Gold Price Today
Source – Money Metals
Similar Posts
US Copper’s updated PEA estimates NPV over $1 billion
Moonlight – Superior project in California
The study envisions a mine life of 14 years, producing 903,000 tonnes of copper, plus 12 million oz. of silver and 63,000 oz. of gold. A majority of the production will come from mining the sulfide mineralization at Moonlight-Superior.
US Copper CEO Stephen Dunn said the PEA, which a culmination of several years of planning, drilling, metallurgical testing and engineering studies, confirms “substantial economic opportunity” at current copper prices that can be realized through the development of a series of open pit mines on the property.
PEA – preliminary economic assessment
NPV – Net Present Value
Source – Mining.com
Copper prices edge up in thin trade after past week’s tumble
Three-month copper on the London Metal Exchange (LME) rose 0.1% to $8,949.5 a metric ton in official open-outcry trading.
Adding further pressure, the International Copper Study Group said on Friday that the global refined copper market was in a 287,000 metric ton surplus for the first 10 months of 2024.
With a mean reversion strategy in play, copper is likely to strengthen back above the crucial $9,000 mark, Sucden Financial analysts said.
Source – ZAWYA
Copper up, investors confused
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
Gold prices rise, gold futures up
Gold prices rose on Tuesday, supported by safe-haven demand amid uncertainty over U.S. President Donald Trump’s tariff plans for next week that could potentially boost inflation.
Spot gold was up 0.3% at $3,021.39 an ounce at 11:24 a.m. ET (1524 GMT). U.S. gold futures were up 0.4% at $3,026.20.
“Investors are concerned about the state of the world, especially with U.S. policies being what they are, and so they’re buying gold as an alternative asset because they’re concerned that the U.S. government may throw the world into a global recession,” said Jeffrey Christian, managing partner of CPM Group.
Spot silver gained 1.8% to $33.59 an ounce, platinum added 0.8% to $980.80 and palladium added 1.1% to $961.60.
Source – Reuters
