Gold Prices Jan 9,2025
Source – Money Metals
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Gold sees longest rally since 2020
“During the last three days, gold is up over 8% and on pace for its largest three-day move since March 2020,” Bespoke Investment Group said in a note Friday morning. “Before that, you would have to go back to the financial crisis to find the last time it rallied as much in three days.”
“Gold may be catching a bid, but the dollar has floundered,” said Bespoke. “If you were looking for bonds to provide some ballast in your portfolio this week, you didn’t get it with Treasuries.”
Source – Market Watch
Customer wait times on mint coins addressed
In less than five hours June 13, collectors and the public at large placed sufficient orders to exhaust the maximum authorized mintage of 100,000 Proof 2025-W American Eagle, 250th Anniversary United States Army privy-marked 1-ounce silver dollars, launched for sale at $105 per coin.
The remaining 90,000 available for the June 13 sales launch were sold within five hours.
“Almost immediately, we became aware of concerns regarding the wait times customers in the waiting room were receiving, with some customers initially receiving estimates of 8 hours to ‘more than a day.’ We also encountered issues with payment processing, which were exacerbated by bots and people trying to avoid the household order limits.
For the waiting room, the Mint is looking for ways we can improve this customer experience. The waiting room looks at current traffic trends when calculating wait times.
Source – Coin World
President Trump inaugural medals being made
Medalcraft Mint in Green Bay, Wisconsin, is now marketing 2.75-inch (69.85-millimeter) Proof bronze versions and Proof silver versions of the official Donald J. Trump presidential inaugural medal, along with a six-piece process set that illustrates the progression of the striking process for the bronze medals.
According to Medalcraft sales representative Branden Beyer, the bronze medals are being offered at $75 each, the silver medal at more than $900 depending on the fluctuating daily spot price of silver, and the six-piece process set at $650.
Source – Coin World
Copper at record high $11,633 a ton
Unusually large shipments of copper to the United States are unlikely to abate as long as the threat of tariffs hangs over the market and price premiums for the metal on U.S.-based COMEX make deals profitable for traders and producers, analysts said.
COMEX copper hit a record high at $11,633 a metric ton on March 26, creating a premium of more than $1,570 a ton against the benchmark contract on the London Metal Exchange.
“We expect 250,000-300,000 tons of extra copper will be shipped to the U.S. over March-May because of the spread and amid the uncertainties regarding the tariff,” said Sharon Ding, head of China basic materials at UBS Investment Research.
“It’s possible we’ll see more atypical cargos in the second half of May,” Kpler analyst Ben Ayre said. “While the COMEX price continues to run at a premium to the LME there’s a strong incentive to land refined copper in the United States.”
Source – Reuters
Investors rushing to safe-haven, gold
Spot gold hit a record $3,004.86 per ounce on Friday, marking its thirteenth all-time high in 2025. Prices have already climbed 14% this year, after surging 27% in 2024.
“With continued central bank buying, there are multiple factors driving demand. In a backdrop of geopolitical uncertainty and ongoing tariff changes, appetite for gold remains strong,” said Standard Chartered analyst Suki Cooper.
“The inflation data is helping to give the market confidence that the easing cycle will continue, given concerns around inflation and growth,” said Standard Chartered analyst Suki Cooper.
Source – Reuters
