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Gold falls .4%

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Spot gold lost 0.4% to $3,222.49 an ounce, as of 0852 GMT. Bullion hit a record high of $3,245.42 earlier in the day.

“Market sentiment has improved a bit this morning after President Trump excluded electronics and smartphones from US tariffs. This has partly caused a dip in gold prices, likely due to profit-taking,” said Zain Vawda, an analyst at MarketPulse by OANDA.

Spot silver was steady at $32.27 an ounce, while platinum added 1% to $952.10. Palladium gained 2.2% to $935.38.

Source – Reuters

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Indonesia trade ministry supports extending Freeport’s copper export permit

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Freeport’s last export permit expired at the end of 2024, but the company has requested it can continue selling copper concentrate abroad because its local copper smelter was in repair after a fire in October last year.

“The trade ministry supports a plan to relax the export policy after weighing the cost and benefit analysis … while also observing the sustainability of the government’s natural resource downstreaming policy,” deputy minister Dyah Roro Esti said in a statement.

Freeport Indonesia said that it’s currently negotiating with the government over the export permit and believed the government “would accommodate” it.

Source – Mining.com

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Gold close to reaching $3000

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It appears that the Federal Reserve is on hold when it comes to moving interest rates until midyear, said Peter Grant, vice president and senior metals strategist at Zaner Metals. But “most of the other major central banks remain in easing mode, providing an additional tailwind for gold.” Ongoing trade and geopolitical uncertainty suggest upside potential to the psychologically important $3,000 level, he said.

Source – Market Watch

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Author Collin Plume predicts spike in silver

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“Bitcoin disrupted global finance just a decade ago, now, silver is emerging as the next keystone of global transformation—poised to reshape industries, currencies and geopolitics.”

 “With reserves projected to run out in just 20 years, Plume predicts silver’s price could surpass $60 per ounce.”

According to Plume, nonsourced calculations are “showing the U.S. would need over 3.5 billion ounces [109,375 tons] of silver to transition to 100 percent solar power.” The writer and his publisher say this ties into “how China’s dominance in silver production threatens U.S. strategic interests.”

Source – Recycling Today

More Info on Author

Collin Plume author of Silver is the New Oil

Article on Collin Plume CSQ

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Perth Mint’s gold and silver rise

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Sales of gold coins and minted bars rose to 25,103 ounces in February, up 35% from January. On a year-on-year basis, they were down 47%.

Silver product sales increased to 482,451 ounces in February.

“It is heartening to see the increase in sales on January levels given precious metals prices remain at record highs,” said Neil Vance, Perth Mint’s general manager of minted products.

Source – Reuters

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