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Gold continues to climb, tariffs increase demand

ByVictoria

Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.

Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).

“We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.

Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.

Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.

Source – Reuters

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    The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028

    “Our stated goal is to become a green, high-tech, leading global company,”

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    NGD’s gold production reached 298,303 ounces in 2024, whereas its guidance was 300,000-310,000 ounces.

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    HAPPY NATIONAL COIN WEEK!

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    Hey Numismatics!

    I’m sure that you’re looking for coins in honor of National Coin Week and you’re getting rare coins on eBay, Whatnot, Instagram or whatever you online buying you can find. Well, here you can find reputable coin and bullion dealers to buy in person and skip the shipping costs to get your coins.

    If you’re looking for rare coins and are in the Chicago area, check out Harlan J. Berk. They have more than 50 years of expertise in the precious metals space. They have a dedicated space to do more research on pieces and even help you enhance your portfolio.

    Coins are a specialty at Arizona Coins & Collectibles in Tucson, AZ ranging from ancient to modern. You will see coins on the walls and over 45 years of experience. If you’re not in the area, they have an online eBay store you can visit.

    At Bullion & Coin Exchange in Mesa, AZ they are recommended by the U.S Mint. If you’re looking for coins they’ve got you covered and have 39 years of experience to show for it.

    If you’re close to Pittsfield, MA then Pittsfield Precious Metals is the place to be for gold, silver, and you guessed it COINS! They offer a variety of collectibles and professional coin grading services.

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    Happy Coin Hunting friends! Good luck!

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    Copper safe from tariffs

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    The red metal, along with pharmaceuticals, semiconductors and lumber, earns an exemption from “reciprocal” tariffs on most goods entering the U.S.

    Referred to in a White House fact sheet as “responsive tariffs,” President Trump spells out the rationale for and specific examples of other nations’ tariffs in that April 2 fact sheet, fully titled “Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security.”

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    “Copper, pharmaceuticals, semiconductors and lumber articles”

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