Ero Copper Corp. stock
Source – MSN
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Gold bounces back after month long low
Markets initially dropped after Fed Chair Jerome Powell hinted at fewer rate cuts next year, but quickly recovered as investors recognized this aligned with recent expectations, said StoneX analyst Rhona O’Connell.
“Gold sold off, showcasing once more that it is not an inflation hedge per se, but regained some lost ground on a threatened U.S. government shutdown,” said Carsten Menke, analyst at Julius Baer.
Source – Reuters https://www.reuters.com/markets/commodities/gold-recovers-one-month-low-short-covering-2024-12-19/
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“Gold is reacting to a sharp rise in the U.S. dollar after a hawkish Fed cut,” said Michael Armbruster, co-founder and managing partner at Altavest. Source – Market Watch https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-rise-ahead-of-final-rate-decision-and-economic-forecast-of-the-year/card/gold-futures-decline-after-fed-announcement-WFThfHDv2mQxezfnO3an
“Despite the pullback we’ve seen in gold prices following yesterday’s Fed statement, we believe gold’s positive momentum will continue in the short to medium term,” Manthey said by email. Source – CNBC https://www.msn.com/en-us/money/other/the-fed-s-hawkish-signal-sparked-gold-jitters-but-analysts-see-support-for-the-precious-metal-in-2025/ar-AA1wajju?ocid=socialshare
Precious Metals with highs and pressure
Gold
Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.
Silver
Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.
Platinum
Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.
Source – FXEMPIRE
Gold prices rise higher, tariff concerns
Gold prices ticked higher on Tuesday as focus turned to U.S. jobs and inflation data, that could influence the Federal Reserve’s policy decision in the face of rising economic growth concerns.
Spot gold (XAUUSD:CUR) +0.93% to $2,911.21 an ounce after hitting its lowest since March 3 in the previous session.
Meanwhile, worries over Trump’s tariff policies have also pushed safe-haven gold to a record high of $2,956.15 on February 24, as the metal is seen as a hedge against political risks and inflation.
Source – Seeking Alpha
Copper stocks could benefit from EV and Renewable energy
Analysts estimate that copper demand from energy transition sectors will grow at a CAGR of 10.7%, with the EV sector alone driving a 14.3% increase, solar power 5.6%, and wind applications 9.3%. Overall, the demand for copper is projected to grow at a CAGR of 2.6% through 2034.
Source – Stock News
Gold and Silver fell 1%
Gold fell over 1% on Tuesday after hitting a near four-week high, pressured by a firmer dollar as investors grew cautious ahead of a potential call between U.S. President Donald Trump and Chinese leader Xi Jinping.
Spot gold fell 1.1% to $3,340.79 an ounce as of 10:21 a.m. ET (1421 GMT), after hitting its highest since May 8, earlier in the session.
“We are moving into this period that is well known to be the summer doldrums, so there’s an expectation that the gold market could fall into a bit of a lull or a sideways consolidation,” said David Meger, director of metals trading at High Ridge Futures.
“I believe the Fed is ready to begin to cut rates again, but more than likely not until September…that is another factor likely to weigh on the dollar and support gold,” Meger added.
Spot silver fell 1.2% to $34.37 an ounce
Platinum lost 0.4% to $1,059.32, while palladium was up 1.4% at $1,003.10.
Source – Reuters
Silver Is Rebounding Following Its Year-End Selloff
Silver is making a strong comeback at the start of 2025, following a challenging year-end performance in 2024.
There is good reason to suspect that bullion banks have deliberately driven gold and silver prices lower at the close of 2024 to “paint the charts” and influence the yearly closing prices. Reports Jesse Colombo
Source – Money Metals