Gold (XAU/USD) rose sharply during the Asian session on Thursday, reaching $3,126.67, as global markets reacted to renewed trade tensions.
Silver (XAG/USD) is trading at $33.28, having touched a session low of $33.07. Despite gold’s upward momentum, silver’s response has been more restrained, weighed down by its industrial use case.
Source – FX EMPIRE
Source – KITCO
A Chilean startup backed by BHP Group has delivered its first copper cathodes from a demonstration plant at a mine site in northern Chile as the industry looks to squeeze out more metal from lower quality ore.
Ceibo and firms such as Jetti Resources LLC and Rio Tinto Group’s Nuton venture are looking to roll out catalysts for liberating copper from low-grade ore that miners previously saw as too expensive and difficult to process.
Source – Mining.com
Copper cathode – is high quality copper that is produced through the process of electrolysis.
Electrolysis – is an electric current that passes through a substance to have a chemical change.
Source – MSN
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
Considering the price of gold throughout 2021, it averaged out to roughly $1,798/ounce, meaning the value of the dollar actually rose around 3 percent right at the time that the economy-sapping tax that is government spending continued under Biden, and allegedly caused “inflation.” To be clear, government spending is the worst tax of all exactly because it substitutes central planning of resources by the government for that of the private sector. Still, it logically doesn’t cause higher prices, or “inflation,” and it didn’t if gold is to be believed.
Source – Forbes
Silvercorp’s El Domo project in Ecuador is set to boost revenues by 50% when it begins operations and diversify operations reducing jurisdictional risk.
Source – Seeking Alpha / Mountain Valley Value Investments
Hope you had a LOVEly Valentines weekend!
