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Copper price up.4%

ByVictoria
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Benchmark copper on the London Metal Exchange (LME) was up 0.4% at $9,418 a metric ton by 1000 GMT, having hit a peak of $9,481.50 in the previous session for its highest since April 3.

“It’s almost impossible to see what is happening from one day to the next. No doubt the tariff optimism that triggered the risk-on rally early in the week has faded again,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.

U.S. Comex copper futures gained 0.5% to $4.87 a lb, bringing the premium over LME copper to $1,314 a ton.

Source – Business Recorder

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Copper futures up 5%

ByVictoria
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U.S. copper futures rallied nearly 5% on Wednesday, rising more than other global benchmarks, after President Trump said imports of the metal would be subject to a 25% tariff; the front-month May Comex contract (HG1:COM) currently +4.6% at $4.76/lb.

Trump’s comments in last night’s speech to Congress sparked a surge in Comex copper prices in Asian hours, as traders reacted to the possibility that copper tariffs could be larger than expected.

“A 25% tariff was clearly not what the market was expecting before those comments, and now traders are scrambling to price in the correct level, whatever that might end up being,” Saxo Bank’s Ole Hansen said. “Whatever the final tariff is, the disruption to global trade flows is very real.”

Source – Seeking Alpha

Gold-scammer jailed for 6.5 years

ByVictoria
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A California man was sentenced to 6½ years in prison Tuesday for his role in ongoing “government impostor” gold-bar scams that are costing Americans millions every year.

“This is a national epidemic,” prosecutor Hannah Gleason said in a courtroom in Montgomery County, Maryland, which has been hit hard by the complex frauds. “These are highly organized criminal organizations.”

The case at hand cost a 64-year-old woman, living in Montgomery’s Leisure World community, $789,000. She had counted on the savings to fund the medical needs of herself and other family members and now fears she may lose her home, Gleason said.

“She worries about her financial security and financial health,” Gleason said. “This has caused great emotional distress and impact to her, and has led her to believe she can’t trust people.”

Source – The Washington Post

Please be careful out there everyone. People are getting scammed everyday and our older community are the targets…usually. It’s really unfortunate for this lady who knows how many others have had this happen to them too. Be safe! – V.

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Silver breaks above $33.45

ByVictoria
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After briefly dipping to $32.66 last week, silver has regained the $33.45 pivot, which now serves as near-term support. The level is seen as a trigger for momentum trades, and a sustained move above it could drive a retest of the recent high at $34.24. A breakout above that zone would open the path toward resistance between $34.87 and $35.40. Conversely, a failure to hold $33.45 could expose the downside to the $32.53–$31.81 retracement range.

Source – FX Empire

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Fort Knox US gold reserves prepares of audit

ByVictoria
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Fort. Knox’s massive reserve has reportedly been valued at $425 billion according to the New York Post, with the rest of the United States’ highly sought-after metal being stored in the Federal Reserve Bank of New York. 

Rand Paul said he has tried to get his eyes on the Ft. Knox gold for 10 years “to make sure it’s all there.”

Source – Fox News

DOGE – Department of Government Efficiency

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Silver stays around $32

ByVictoria
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Silver prices hovered around the crucial $32.19 level on Monday, testing a significant Fibonacci retracement that may define short-term direction.

With the $32.19 level under test and $32.51 looming overhead, silver is well-positioned for an upside break if macro sentiment stays supportive and gold stabilizes above $3,100.

Source – FX EMPIRE

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