US tariffs on copper imports may be coming within weeks, months earlier than Donald Trump’s original deadline for a decision, according to people familiar. He’s previously threatened a duty of 25% on one of the world’s most important metals—and it’s hurting American factories already. The price of copper traded in New York jumped to a record high. Keep on top of the latest with our tariff tracker.
Source – Bloomberg
SPDR Gold Shares
It’s been having a good run: from the early June 2024 low of $212 to the present $264 amounts to a 19.7% return from then to now.
ASA Gold and Precious Metals
The South African-founded miner is now domiciled in Bermuda and has a market cap of $477 million. The price-earnings ratio is 7.61 and the stock trades at 1.12 times its book value. ASA in November 2024 paid a .16% dividend.
Franco Nevada
Headquartered in Toronto, the company has a market cap of $27 billion. This year’s earnings are down by 13.15%. Franco Nevada has no debt, long-term or otherwise.
Kinross Gold
This Canadian miner has a market cap of $14.51 billion. Earnings this year are up by 71%. The price-earnings ratio is 19.74. The debt-to-equity ratio is .26. Kinross Gold pays a dividend of 1.02%.
Discovery Silver
This is an OTC stock (also trades on The Toronto Stock Exchange) with an average daily volume of 237,000 shares. Market cap is $433 million. According to the company website, Discovery has “high quality gold producing assets in Canada” and “the world’s largest undeveloped silver deposit in Mexico.”
Source – Forbes
A limited-edition, privy-marked Proof 2025-W American Eagle silver dollar prepared for release June 13 from the United States Mint celebrates the 250th anniversary of establishment of the Continental Army during the American Revolutionary War, on June 14, 1775.
As of May 24, the Mint had not yet established pricing for the privy-marked American Eagle. The product is limited to an issue of 100,000 coins. Each household order is restricted to three coins during the first 24 hours of sales, after which the limit will be lifted.
The commemorative privy-mark — containing elements of the U.S. Army’s official seal — is positioned in the field behind Liberty, to the left of the Y in the inscription LIBERTY.
Source – Coin World
A flurry of legislative activity in both chambers of Congress in February includes more than a half dozen bills, one of which seeks an extension of production of Presidential dollars and First Spouse gold coins.
S. 633, introduced Feb. 19 by Sen. Catherine Cortez Masto, D-Nevada, seeks to extend the Presidential dollar and First Spouse gold coin series to include deceased presidents and their spouses not yet honored.
Jimmy Carter Presidential dollars would be authorized to be struck with a circulation finish in bags and rolls offered for sale from the Denver and Philadelphia Mints, and Uncirculated finish versions from both production facilities and Proof coins from the San Francisco Mint.
For the First Spouse gold coins, Proof and Uncirculated versions would be produced as numismatic products at the West Point Mint bearing the facility’s W Mint mark.
Source – Coin World
Spot gold was up 0.6% to $3,325.20 an ounce at 1134 GMT. The metal has gained 2.5% so far this week. U.S. gold futures were up 0.8% to $3,334.30.
The dollar index slipped 0.3%, making gold more attractive for holders of other currencies.
“The exaggerated moves (in gold) suggest there is strong buying on the one hand on economic uncertainty, while strong selling is in evidence as some see the higher prices as an opportunity to take profit,” said Ross Norman, an independent analyst.
Elsewhere, spot silver eased 0.2% to $32.44 an ounce, platinum rose 0.6% to $981.94 and palladium climbed 0.4% to $980.15.
Source – Reuters
SA analyst World Gold Council stated: “While gold may face some consolidation due to the speed of its latest move, the combination of geopolitical and geoeconomic uncertainty, rising inflation, lower rates, and a weaker US dollar continue to provide powerful tailwinds to investment demand,”
“I recommend buying assets that track the price of gold… Inflation had been on an upward trend, but the lower-than-expected reading in February added more uncertainty to investors. Additionally, recession fears could lead the Fed to cut interest rates. All these uncertainties drive up gold prices,”
Source – Seeking Alpha
China will import even more off-exchange refined copper this year, according to analysts and traders, as output from the Congo booms and users look to alleviate shortages and head off a potential disruption to supplies of U.S. scrap.
“The supply of refined copper, including scrap, concentrate, anode and blister, is still tight. We therefore expect higher imports of plentiful refined copper, including EQ copper to partly compensate for this tightness in other raw materials,” Jonathan Barnes, principal analyst at metals research company Project Blue said.
Source – Reuters
