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Ero Copper Corp. Advances While Market Declines

ByVictoria

In the latest market close, Ero Copper Corp. (ERO) reached $13.17, with a +1.15% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.27%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq increased by 0.03%.

The the stock of company has fallen by 6.67% in the past month, lagging the Basic Materials sector’s gain of 7.68% and the S&P 500’s gain of 4.27%.

The company’s earnings report is set to go public on March 6, 2025.

Source – Zacks.com

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Gold adds to record rally amid trade war

ByVictoria
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Spot gold was up 0.8% at $2,864 per ounce by 09:24 a.m. ET (1424 GMT), after hitting a record high of $2,877 earlier in the session.

“Gold continues to be largely influenced by trade uncertainties… the tariffs with China and the retaliation has the market on edge, so safe-haven flows remain the dominant factor,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

Spot silver rose 0.4% to $32.23 per ounce, platinum gained 1.6% to $979.40 and palladium added 0.4% to $994.75.

Source – Reuters

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Presidential dollars and First Spouse gold coins legislation extension

ByVictoria
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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

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Gold, Silver, Platinum Forecasts

ByVictoria
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Gold

Gold made an attempt to settle below the support at $2870 – $2880 but lost momentum and climbed back above the $2900 level.

Silver

Silver rallied above the $32.00 level as gold/silver ratio pulled back below the psychologically important 90 level.

Platinum

Platinum is trying to settle above the resistance at $1025 – $1030 as demand for precious metals stays strong.

Source – FXEMPIRE

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China’s gold reserves rise over $73 million

ByVictoria
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China’s gold reserves rose to 73.61 million fine troy ounces at the end of February from 73.45 million at the end of January, as the central bank kept buying the precious metal for a fourth straight month.

“The PBOC’s purchases are an important factor underpinning gold, so a continuation of its buying in February could help to build further strength behind the gold price,” said Frank Watson, market analyst at Kinesis Money.

“Unlike investors, central banks are relatively price insensitive to gold and tend to buy as part of a restructuring of their reserve holdings,” Watson said.

Source – Reuters

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Gold rose but weaker than expected: December report

ByVictoria
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Spot gold rose 0.5% to $2,663.79 per ounce, as of 9:55 a.m. ET (1455 GMT) and hit its highest since Dec. 13. U.S. gold futures gained 0.5% to $2,679.70.

Weaker private payrolls “is contributing to gold’s move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected,” said Bart Melek, head of commodity strategies at TD Securities.

“The bigger factor will be U.S. nonfarm payrolls on Friday, the market is expecting a change of 163 (thousand); anything significantly above that will be negative for gold,” Melek said.

Source – Reuters

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President Trump will add copper to trade protection

ByVictoria
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U.S. Commerce Secretary Howard Lutnick said nothing would stop President Donald Trump’s expanded 25% tariffs on steel and aluminum until U.S. domestic production is strengthened, and that Trump will add copper to his trade protections.

“We can’t be in a war and rely on steel and aluminum from some other country. I mean, it’s just not reasonable,” Lutnick said. “So the president wants steel and aluminum in America, and let me be clear, nothing is going to stop that until we’ve got a big, strong domestic steel and aluminum capability. And by the way, he’s going to add copper to that mix too.”

Source – Reuters