Freeport – McMoRan Inc. stock
Source – MSN
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Gold prices higher, Silver prices lagging
Asian and European shares were mixed to weaker in trading overnight. U.S. stock indexes are set to open higher on corrective bounces following Friday’s big sell offs.
German stocks rose as investors cheered a win by German conservative leader Friedrich Merz in Sunday’s elections.
The Euro zone January consumer price index came in at up 2.5%, year-on-year, which was right in line with market expectations.
Source – KITCO News
Gold gained .4%, market “choppy”
Spot gold gained 0.4% to $3,312.05 an ounce by 08:56 a.m. EDT (1255 GMT), after hitting a session low of $3,285.19 on Tuesday.
U.S. gold futures rose 0.3% to $3,310.60.
“The gold market has been kind of choppy recently, just reacting to fresh daily fundamental news events with no real trending price action. In the near term, market top is in place,” Jim Wyckoff, senior analyst at Kitco Metals, said.
Goldman Sachs recommended on Wednesday a higher-than-usual allocation to gold in long-term portfolios, citing elevated risks to U.S. institutional credibility, pressure on the Fed, and sustained central bank demand.
Spot silver fell 0.3% to $33.20 an ounce, platinum firmed 0.8% to $1,088.65 and palladium eased 0.6% at $972.36.
Source – Reuters
Silver prices rise, how high will it go?
“Silver is showing signs of relatively higher momentum with the price trying to breach the crucial US$ 33 level,” Emkay said
Given silver’s diverse industrial applications, its price is projected to rise from its current level, reaching $36.60, $38.70, and $39.30 on COMEX, it said.
“Investing in silver funds with a 12 to 18 months’ time horizon is likely to be a worthy proposition.”
The gold-silver ratio is currently around 90, which suggests that silver is currently undervalued.
Source – invezz
Missouri passes bill on gold and silver
The Missouri legislature has passed a bill that would allow the state government to accept gold and silver as payment for taxes and other transactions
The legislation, led by Republicans, would require state government entities to accept electronic versions of gold and silver, called “electronic specie currency,” as payment for taxes and public debts. The bill doesn’t require businesses to accept gold and silver as payment for private uses, but it would allow them to do so.
“The goal is about restoring economic and political freedom back to everyday Missourians,” state Rep. Bill Hardwick (R) said.
Source – Just The News
Barrick Gold plans to change name
Barrick Gold (NYSE:GOLD) said Monday it plans to change its name to Barrick Mining, subject to shareholder approval at its upcoming annual meeting on May 6.
The company expects to change its NYSE ticker symbol from GOLD to B, effective at the start of trading on May 9; Barrick (NYSE:GOLD) common shares will continue to trade under the ABX symbol on the Toronto Stock Exchange.
Source – Seeking Alpha
Copper Prices Surge as Market Braces for Potential U.S. Tariffs
While no official tariff has been imposed, the price gap between the CME and London Metal Exchange (LME) contracts has widened sharply, with CME copper trading at a premium exceeding $1,000 per metric ton. This suggests the market is pricing in at least a 10% tariff, though a 25% duty, similar to those on aluminum and steel, remains a possibility.
Source – Econo Times