|

Copper may have peaked for Cochilco

ByVictoria

Chile’s state copper commission Cochilco on Monday said that prices for the red metal have likely already peaked this year amid an escalating trade war, as U.S. President Donald Trump threatened to further increase tariffs on China.

“Base metals, including copper, are likely to have peaked in 2025 as they will be negatively impacted by the trade dynamics between the U.S. and China,” Cochilco said in a statement.

Cochilco said that if current economic and geopolitical conditions continue, its forecast would weaken.

Source – Reuters

Similar Posts

  • /

    Gold Miners Trapped in Congo Landslide

    ByVictoria
    0 Comments

    A landslide at an informal gold mine in the Democratic Republic of Congo where thousands of people were working has left an unknown number of people trapped underground since Sunday.

    Twelve people have been rescued, Mr. Rubabura said, adding that the number of missing would be released only once the search was over.

    The Lomera site is an artisanal mine, meaning it is not operated by a mining company with professional equipment but by workers who use basic tools to extract ore, often in dangerous conditions.

    On Tuesday, M23 members walked around the site issuing instructions to those who remained, telling them not to film or speak to journalists. There was no sign that a serious search for survivors was underway.

    Source – New York Times

  • /

    200% surge over 6 years in Gold prices

    ByVictoria
    0 Comments

    Over the past six years, gold prices in India have risen by an astounding 200 per cent, skyrocketing from Rs 30,000 to over Rs 1,00,000 per 10 grams between May 2019 to June 2025, analysts said on Monday. Motilal Oswal Financial Services Limited (MOFSL) reinstated its bullish outlook on the precious metal, considering geopolitical situations.

    “We have been fortunate to be part of the gold uptrend since 2019. Following our long-standing bullish stance on the yellow metal, we are now taking a cautious pause in July 2025 — without completely turning away from it,” said Manav Modi.

    Source – Zee News

  • / /

    Texas allow gold and silver as legal tender

    ByVictoria
    0 Comments

    Texans are to be allowed to pay with with gold and silver for everyday transactions after Governor Greg Abbott signed House Bill 1056 into law. The law, which was championed by Republican state representative Mark Dorazio, designates the precious metals as legal tender in the state.

    Texans will be able to use their gold and silver holdings, stored in the state’s bullion depository, for payments through electronic systems such as mobile apps or debit cards.

    The provision comes after legislative debate, and takes effect on May 1, 2027, enabling transactions based on the state comptroller’s valuation of the metals at the time of sale.

    Source – Newsweek

    Legal Tender – officially recognized money

  • /

    The world’s second-largest gold storage has weeks long queues

    ByVictoria
    0 Comments

    All existing slots at the Bank of England to withdraw gold bars are booked up as market players race to ship the metal to the United States to take advantage of a surge in gold prices there, an official has said.

    “The US gold market has been trading at a premium to the London market,” Dave Ramsden, deputy governor for markets and banking at the central bank, told reporters Thursday. The owners of the gold bars in its underground vaults have been “looking to take advantage of that price differential,” he added.

    Meanwhile, gold inventories on the US COMEX exchange — a major market for trading gold, silver and other metals — have almost doubled since the end of October, Commerzbank said in a note Friday.

    “The fact that gold is significantly more expensive on the COMEX than (in) other trading centers is likely related to the feared US import tariffs, which could possibly also affect gold,” wrote Carsten Fritsch, a commodity analyst at the German bank. “The deliveries on the COMEX are therefore likely to be primarily driven by concerns about possible supply disruptions.”

    Source – CNN

    COMEX – Commodity Exchange

  • / /

    Gold fell 3%, Silver .9%

    ByVictoria
    0 Comments

    Safe-haven gold fell 3% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs.

    Spot gold was down 3% at $3,225.28 an ounce, as of 1344 ET (17:44 GMT). Bullion, considered a hedge against economic and geopolitical turmoil, hit a record high of $3,500.05 last month amid increased tariff uncertainty.

    “June gold futures bulls have lost their overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,350. First resistance is seen at $3,250 and then at $3,275,” said Jim Wyckoff, senior analyst at Kitco Metals.

    Spot silver slid 0.9% to $32.4 an ounce, platinum fell 1.9% to $976.06 and palladium dipped 3.4% to $942.69.

    Source – Reuters

  • /

    Gold attracts record 4-week inflows

    ByVictoria
    0 Comments

    Gold saw record investor inflows over the past four weeks, with investors scrambling for safe havens as the Trump administration’s tariff policies threatened to reorder global trade alliances.

    Investors poured another $1 billion into gold in the past week, pushing four-week inflows to a record $9.9 billion, according to BofA Global.

    Source – Market Watch