“I’m basing this whole forecast on the fact that the Fed is going to be wrong,” Hemke stated, emphasizing his belief that the current economic strength is overstated.
Craig Hemke is a precious metals analyst.
Source – The Jerusalem Post
The Thursday session sees a bit of consolidation in the silver market, as we are not trying to digest further gains from the Wednesday session. At this point, the market looks as if it want to go to the $35 level eventually.
Silver is a metal that I would be a buyer on dips because it is a precious metal. It’s a way to protect wealth, but it’s also an industrial one.
Source – FX Empire
Saigon Jewelry Company bar went up 1.09% to VND92.3 million (US$3,619.61) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring also reached a new peak at VND91.5 million per tael.
Source – eVnExpress
JP Morgan expects the global deficit in refined copper to grow to 160,000 metric tons in 2026 and continues to forecast copper prices averaging around $11,000 per metric ton next year, the bank said in a note dated Friday.
“Likely excess inventory builds in the U.S. in the coming months ahead of a tariff on copper sets up the potential to leave the rest of the world shorter of copper … setting the stage for our forecast bullish push higher over 2H25 towards $10,400/mt,” JP Morgan noted.
Source – Reuters
“These projections are supported by a rise in copper demand from the energy transition, electricity grids and a limited supply,” Claudia Rodriguez, Cochilco’s interim VP, said in a statement, adding that geopolitical tensions also played a role.
“Uncertainty about China’s economic recovery, tariffs implemented by the United States and the hardening of monetary policy could limit the demand for copper, affecting its price,” Rodriguez said.
It also expects Chile’s copper production to rise by 4.6% this year to 5.76 million tons and grow another 3.6% to 5.97 million tons in 2026.
Source – Mining.com
Source – MSN
Barrick is a sector leading gold and copper production. One of the biggest in the world and comes in at 2nd in gold mining.
“The miner this week threatened to suspend operations in Mali over deteriorating mine conditions. Jefferies analysts wrote in a note this week that closure of the mine would reduce Barrick’s earnings before interest, taxes, and amortization by 11% next year.”
“Mali, under interim President Assimi Goita, has increased pressure on western miners in a bid to raise its revenue share from gold mines. In the last two months, the junta has detained senior executives of western miners, including employees of these companies for alleged non-payment of mining taxes.” Source – https://www.msn.com/en-ca/money/economy/barrick-gold-seeks-arbitration-over-mali-gold-mine-dispute/ar-AA1w6s2W?ocid=socialshare
