Spot gold gained 0.8% to $3,340.53 an ounce as of 0300 GMT, after hitting its highest level since May 9.
U.S. gold futures rose 0.9% to $3,341.90.
“Gold’s bullish reversal is supported by a weaker U.S. dollar and lingering stagflation risks in the U.S. economy,” said Kelvin Wong, senior market analyst, Asia Pacific at OANDA.
Spot silver rose 0.5% to $33.54 an ounce, platinum gained 0.1% to $1,077.33 and palladium lost 0.6% to $1,031.46.
Source – Reuters
“We have to bring production back to our country,” he said.
“In the US, manufacturers will have little choice but to pass on higher costs from imports to consumers until the downstream industry (refining/smelting) has undergone suitable investment,” said Natalie Scott-Gray, senior metals analyst at StoneX.
“If Trump imposes tariffs, it will have an adverse impact particularly on aluminum because Europe is already on path to impose a carbon tax and the UK might do it too,” said B.K. Bhatia, additional secretary general at the Federation of Indian Mineral Industries.
Source – Mining.com
Looking for another sign of how nervous investors are about tariffs? Copper prices plummeted 7% Friday to about $4.50 a pound in New York. Copper has plunged nearly 15% since hitting a 2025 peak price of about $5.25 in late March. But copper is still up about 13% this year. That may not last much longer.
Source – Barrons
Copper prices drifted higher on Wednesday as investors waited for details of U.S. reciprocal tariffs, but tin extended a rally to its highest in nearly three years on supply fears.
Benchmark three-month copper on the London Metal Exchange (LME) was up 0.2% at $9,711 a metric ton by 0953 GMT after slipping to its weakest in three weeks at $9,668.50.
“Investors are confused, they’re uncertain about the outlook. It’s mostly tariff-related, although there’s also global conflict, currency debasement and confusion around central bank policy,” said Tom Price, head of commodities strategy at Panmure Liberum.
“Aluminium gives you an insight into what copper might do. It has gone through the first phase of factoring in the cost of tariffs and now it’s going into the second phase, where demand is deteriorating,” Price said.
Source – Business Recorder
Follow up on Kentucky considers bill to entice gold and silver investors
House Bill 2, introduced last week by Rep. T.J. Roberts, R-Burlington, and backed by several other GOP representatives, would void a controversial line-item budget veto by Beshear last year that prevented state lawmakers from exempting “bullion currency” — or gold and silver coins — from taxation.
The proposed bill would also give people who have paid sales taxes on gold and silver since August — when the exemption was set to take effect — the power to use the courts to seek a refund along with $1,000 for “each day that the violation occurred,” paid by the governor’s office.
Source – Louisville Courier-Journal
First, I had no idea that Arizona has a couple of nicknames one of them being “Copper State”. Pretty interesting fact.
I wanted to share this article because there are mining companies here in the United States that are not talked about enough or just don’t get attention. Being interested in precious metals myself, I’d like to know what’s going on with this particular interest and certain information whether it pertains to me or not, but I felt this was interesting because the locals of this area in Arizona are having to deal with certain changes.
I would like to include more of these types of articles in the future if anyone is interested but all things precious metals deserve to be know, I feel.
One of North America’s largest known undeveloped copper deposits, with visions of multiple open pits and a tailings dump stretching down from the mountains toward the narrow Sycamore Canyon’s far rim.
“You come here for some peace and quiet,” Corona de Tucson resident Kevin Kennedy said, “and a mine is anything but.” reported Brandon Loomis
The neighbors and regional environmental groups all make the case that the Sky Islands in general and the Santa Ritas in particular are no place for a massive new mine with multiple open pits. The mountains are home to rare birds and occasionally rarer mammals, like the jaguar, and are considered one of the nation’s most biologically diverse mixing zones of tropical, desert and Rocky Mountain species.
“There are places that are so precious that they shouldn’t be mined,” said Rob Peters, who directs the local advocacy group Save the Scenic Santa Ritas.
Source – Arizona Republic
I will soon do an article on copper and it’s investing benefits, pros and cons in the near future but please let me know if this is something you would like to see or if you like the news style.
It’s been quite fun posting updates on the precious metals world, and I’d like to know your point of view, likes or dislikes. I would like to hear from you!
The price of gold in Pakistan has seen a sharp increase, with rates climbing by Rs 4,300 per tola, according to the All Pakistan Gems and Jewellers Association.
Following the rise, the new price of gold per tola now stands at Rs 358,400. Similarly, the price of 10 grams of gold has gone up by Rs 3,687, reaching Rs 307,270.
Source – Daily Times
RS – means Relative Strength in finance.
The other meaning for Rs is for rupees. Rupees are used in India and Pakistan. Other (smaller) countries like Sri Lanka, Mauritius, Nepal, and Seychelles also use rupees as their currency.
