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Copper trade up to $US10,046.50 a ton

ByVictoria

Copper traded on the London Metal Exchange has jumped 14 per cent this year and reached $US10,046.50 a tonne on Thursday, the highest since October.

“Traders are redirecting the metal from Asia to take advantage of the price premium and skirt any potential tariffs on the metal,” said ANZ senior commodity strategist Daniel Hynes.

“The US copper rush could leave the rest of the world tight on copper if demand picks up more quickly than expected,” said ING commodity strategist Ewa Manthey.

Source – Financial Review

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    Benchmark LME copper futures are more than 9% higher so far this year, and Comex copper is 16% higher YTD, with the Comex now trading at a 10%-12% premium over LME, and Morgan Stanley analysts see more room for growth.

    “We stay constructive on copper, our preferred base metal,” Morgan Stanley wrote. “Fundamentals and price signals are positive, and inventories are tightening as metal gets pulled to the U.S. Tariffs may bring demand concerns in the future, but for now physical markets continue to tighten.”

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    Gold prices rise in India

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    Gold up amidst Israel – Iran conflict

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    Spot gold was up 0.2% at $3,374.54 an ounce, as of 0505 GMT. U.S. gold futures eased 0.5% to $3,391.90.

    “Gold has made a modest bounce as we await the next steps in the Israel-Iran conflict. If the U.S. does decide to get directly involved in the conflict this could raise the geopolitical stakes,” KCM Trade Chief Market Analyst Tim Waterer said.

    “The Fed was not as dovish as some had hoped, and I’d argue Powell was a tad more hawkish than many would like. The U.S. dollar is likely at oversold levels, and that is likely to cap gains on gold over the next few weeks,” said Matt Simpson, a senior analyst at City Index.

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  • Bullion & Coin Exchange (Mesa, AZ)

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    Founding Member Spotlight: Bullion & Coin Exchange

    We’re proud to welcome Bullion & Coin Exchange as a Founding Member of the Victorias Coin-National Gold & Silver Dealer Directory.
    Serving Arizona for decades, Bullion & Coin Exchange has built a reputation for honest pricing, exceptional customer service, and deep industry knowledge. Their team is committed to helping customers buy and sell gold, silver, and rare coins with confidence.
    One of their strongest distinctions is their Recommendation from the U.S. Mint, a rare and respected endorsement that reflects their integrity, professionalism, and long‑standing commitment to the precious metals community.
    What They Offer

    • Gold & silver bullion
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    • Guidance for both new and experienced buyers
      📍 Arizona
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      🏛️ Recommended by the U.S. Mint
      🪙 Trusted Local Bullion Dealer
      Bullion & Coin Exchange continues to be a reliable resource for collectors and investors throughout Arizona, and we’re honored to feature them as a Founding Member.

    Check out this business if you’re in the Mesa area of Arizona. Here is their listing on the Arizona page to get more info.

    -V.

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    Gold set for eighth weekly gain

    ByVictoria
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    Spot gold shed 0.4% to $2,927.95 an ounce by 1204 GMT. Bullion has gained around 1.6% this week after rising to a record $2,954.69 on Thursday.

    “The non-stop rally since December remains unchallenged unless prices drop to around $2,850,” said Ole Hansen, head of commodity strategy at Saxo Bank.

    “Gold has been displaying resilience with short-lived retracements, as lingering U.S. trade uncertainties reinforce its appeal as a hedge,” IG market strategist Yeap Jun Rong said.

    Spot silver was flat at $32.92 an ounce, and palladium dipped 0.3% to $974.75. Both metals were headed for weekly gains.

    Platinum shed 0.2% to $976.80 and eyed a weekly decline.

    Source – Reuters