Copper Prices Jan 9,2025
Source – Money Metals
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Proof 2025-W American Eagle silver dollar on sale soon
Sales by the United States Mint of the Proof 2025-W American Eagle silver dollar, priced at $95 each, are scheduled to begin at noon Eastern Time Jan. 9.
Source – Coin World / written by Paul Gilkes
Gold dips, Silver up .1%
Gold prices dipped for a second straight session on Monday as U.S.-China trade tensions eased, and the market awaited data due this week.
Spot gold was down 0.6% at $3,297.10 an ounce as of 09:27 a.m. ET (1327 GMT). U.S. gold futures rose 0.3% to $3,307.80.
“The broader gold forecast and price direction remains constructive, even with some of its haven appeal diminishing,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.
“Until we witness clear patterns of lower highs, lower lows, and firm trade agreements rather than more political bluster from the Trump administration, the prospect of fresh highs for gold cannot be dismissed.”
Spot silver eased 0.1% to $33.04, platinum gained 1.8% to $988.90 and palladium added 0.8% to $956.35.
Source – Reuters
Poland copper mining tax to end in 2026
Poland’s copper mining tax will fall from next year under a new system that will provide deductions related to investment spending, Polish finance minister Andrzej Domanski said on Friday.
The tax on mineral extraction, including copper, was introduced in 2012. Poland’s biggest copper miner KGHM paid 3.87 billion zlotys in tax in 2024, according to its annual report.
“By taking care of investments in Poland, by taking care of the development of KGHM, we also take care of the collective security of the West and the European Union.”
Source – Reuters
Central banks back at it, jewelry fell
Central banks worldwide are on track to buy 1,000 metric tons of gold in 2025, which would be their fourth year of massive purchases as they diversify reserves from dollar-denominated assets into bullion, consultancy Metals Focus said.
The price rally has so far kept purchases by central banks, a crucial category of demand, unaffected with the first-quarter buying in line with the 2022-24 quarterly average, Metals Focus said in its annual report on Thursday.
Jewelry demand for bullion has been hit hard by the price rally. Gold jewelry fabrication fell 9% to 2,011 tons in 2024 and is expected to deliver a 16% slump this year with India and China accounting for much of this decline.
Source – Reuters
India’s Hindustan Zinc sees strong 2025 growth on higher volumes, CEO says
“We have gone through all our shutdowns and proprietary maintenance and all that in the first three quarters. We should be able to produce a stellar fourth quarter based on our numbers,” Misra told Reuters in an interview.
Misra expects zinc prices to rise to $2,850-$2,950 a ton in the coming days from $2,800 currently, and silver to trade between $30 and $31 per ounce.
Source – Reuters
Copper falls, what about demand?
Copper prices have been on a stellar run, boosted by President Donald Trump’s proposed tariffs. But Wall Street sees headwinds for the metal, with two miners catching downgrades.
Freeport stock lost 3.2%, closing at $44.12, while the S&P 500 and Dow Jones Industrial Average dropped 0.4% and 1%, respectively.
Southern Copper shares fell 2.4% to $97.54.
As for demand, Citi analyst Tom Mulqueen noted in a Tuesday report that tariffs and policy changes will be a headwind in the second half of 2025.
“We also see sustained sluggish manufacturing activity and solar frontloading weighing on copper end-use consumption in the months ahead,” wrote Mulqueen.
Source – Barron’s