Gold saw record investor inflows over the past four weeks, with investors scrambling for safe havens as the Trump administration’s tariff policies threatened to reorder global trade alliances.
Investors poured another $1 billion into gold in the past week, pushing four-week inflows to a record $9.9 billion, according to BofA Global.
Source – Market Watch
Prospects for platinum group metals in 2025 look similar to previous years, UBS says, adding that it expects platinum to outperform palladium , and both to lag gold and silver once again.
The investment bank, meanwhile, has a forecast of a 25% return for silver, with prices trading in a $36-38/oz range.
“Hence, we hold a more nuanced outlook for the overall precious metal sector, with a more attractive risk-reward in gold/silver versus platinum/palladium. Within the platinum group of metals, platinum remains favored over palladium, considering the higher volatility and lower liquidity of the latter,” analysts added.
Source – Seeking Alpha
Miner Freeport-McMoRan (FCX.N), beat Wall Street estimates for second-quarter profit on Wednesday, as higher copper and gold prices helped offset lower production.
The company’s shares rose 1.6% to $40.54 in pre-market trade.
Freeport could be a big beneficiary, seeing as much as $1.6-billion boost to annual profit, given its position as the largest U.S. producer with more expansion options than rivals.
Freeport, which supplies about 70% of U.S. refined copper, said it expects to sell 1.3 billion pounds from its domestic mines in 2025.
Source – Reuters
The United States Mint plans to open sales at noon Eastern Time April 22 for its 10-coin 2025 Silver Proof Set, priced at $150 per set.
The coins, all struck at the San Francisco Mint, are secured within two plastic lenses.
Source – Coin World
China’s gold reserves rose to 73.61 million fine troy ounces at the end of February from 73.45 million at the end of January, as the central bank kept buying the precious metal for a fourth straight month.
“The PBOC’s purchases are an important factor underpinning gold, so a continuation of its buying in February could help to build further strength behind the gold price,” said Frank Watson, market analyst at Kinesis Money.
“Unlike investors, central banks are relatively price insensitive to gold and tend to buy as part of a restructuring of their reserve holdings,” Watson said.
Source – Reuters
This is an update on the 5 year project possibly longer.
Shares of Vizsla Silver shot up by 12.0% during the morning session, trading at a near 52-week high of $2.76 apiece.
“This update reflects the excellent mineralized continuity that exists at Copala. Reducing the space between drill holes at Copala to 25 metres has resulted in a significantly higher-grade profile in the upper levels of the resource and PEA mine plan,” Vizsla CEO Michael Konnert said in a statement.
Source – Mining.com
News on this topic from October 2020.
Vizsla President and CEO, Michael Konnert, commented: “Recent drilling continues to grow the Napoleon discovery area where the best new intercepts are from the deepest holes completed. Mineralization has been extended to the south over 50m and is completely open at depth. The broad intercepts in NP-20-25 and NP-20-27 as well as the internal high-grade veins increase the possibility of both open pit and underground mining scenarios. The Company’s aggressive exploration program is targeting three vein corridors in the district and it is exciting to see the benefit of systematic drilling around our multiple discoveries, particularly the addition of significantly more mineralization at Napoleon.”
Source – Junior Mining Network
The U.S. is expected to implement a 50% tariff on copper imports at the end of the week, but what happens next is anyone’s guess as talk of an exemption for Chile, the biggest U.S. supplier of the metal, and a potential U.S. and European “metal alliance” heats up.
“There remains uncertainty over country-based exemptions and a general sense of tariff fatigue,” wrote Natalie Scott-Gray, senior metals demand analyst at StoneX, in a note Tuesday. The European Union, meanwhile, looks to get a break when it comes to U.S. tariffs on steel, aluminum and copper.
President Donald Trump’s announcement on July 8 of the coming tariff had led to a 13% spike in copper prices that day, to settle at $5.6855 a pound, a record-high finish at that time, based on data going back to 1968, according to Dow Jones Market Data.
Scott-Gray said that when it comes to a potential country-based tariff exemption, Chile is “singled out,” not just because of Marcel’s comments and ongoing negotiations this week, but because the U.S. is reliant on Chile’s imports and the fact that the U.S. holds a trade surplus with Chile, she said.
Source – Market Watch
