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Glencores copper shipments suspended

ByVictoria

Glencore has suspended production and declared force majeure on copper shipments from its Altonorte smelter in Chile due to an issue affecting the plant’s furnace, Bloomberg reported Wednesday, in a setback that comes just as traders and producers race to ship more metal to the U.S. ahead of tariffs.

Much of the copper produced in Chile is shipped to the U.S., where Comex prices have surged to record highs on worries about shortages due to tariffs; the most active Comex copper contract (HG1:COM) for May delivery hit $5.374/lb, or $11,847/metric ton on Wednesday.

Source – Seeking Alpha

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    Over the Weekend!

    ByVictoria
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    The US is moving towards sound money movement

    “Everything else that could function as money has been saddled with taxes and disincentives,” Jp Cortez explained, emphasizing how the current monetary system traps people in the Federal Reserve’s fiat currency.

    “Ten years ago, only a handful of states were considering sound money policies. Last year, more than 27 states introduced over 65 bills related to sound money.”

    Source – Money Metals

    Sound money – refers to a reliable and stable medium of exchange that maintains its value over time.

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    Gold steady, Platinum at its highest

    ByVictoria
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    Gold prices were little changed on Wednesday as investors waited for the Federal Reserve’s policy decision and comments from Chair Jerome Powell, while platinum surged to a more than four-year peak.

    Spot gold was steady at $3,387.89 an ounce by 1145 a.m. EDT (1545 GMT).

    “The prevailing trend of seeking alternative stores of value beyond the U.S. dollar remains strong, driven by a growing desire for assets that are independent of external control,” said Ryan McIntyre, Managing Partner at Sprott Inc.

    Spot silver fell 1% to $36.87 per ounce

    Platinum added 3.5% to $1,306.68, highest since February 2021.

    Source – Reuters

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    Robert Kiyosaki says silver will reach $70

    ByVictoria
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    Robert Kiyosaki urges investors to ditch “fake money” and start saving silver, gold, and Bitcoin — calling silver the top asset for the next two months and predicting it could hit $200.

    “Silver for the next two months is the best of the three, gold, silver, and Bitcoin,” he said. “Today silver is about $35 an ounce. I believe silver may soon be $70 an ounce this year and $200 in a year or two.”

    “The best news is, almost everyone in the world can afford at least 1 silver coin today….but not tomorrow,”

    Source – The Street

    Robert Kiyosaki – is an American Businessman and author most notably for his “Rich Dad Poor Dad” series of personal finance books.

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    Tariff deadline might extend for China

    ByVictoria
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    Gold futures reversed early losses to reach new all-time highs Tuesday, gaining for a third straight session on weaker U.S. bond yields and persistent trade and monetary policy uncertainty as investors continue to anxiously await President Trump’s August 1 tariff deadline.

    The yield on benchmark U.S. 10-year notes fell near two-week low, making non-yielding bullion more attractive.

    U.S. Treasury Secretary Scott Bessent said he plans to meet his Chinese counterpart next week, suggesting a possible extension of an August 12 tariff deadline, but European Union diplomats hinted that the E.U. is looking at broader counter-measures against the U.S. as prospects for a trade agreement dwindle.

    “Trade uncertainty is prompting some safe haven demand,” Kitco Metals senior analyst Jim Wyckoff wrote. “The U.S. has got several trade deals in the works and there’s rumors that the E.U. and the U.S. might not be able to come to an agreement or certainly are not anywhere close yet.”

    Source – Seeking Alpha

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    Silver falls but don’t worry

    ByVictoria
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    The silver market has plunged during trading on Friday in the early hours, but it looks like the $35.50 region is in fact going to continue to offer support, as it was previous resistance, so you would anticipate a little bit of market memory here.

    Source – FX EMPIRE