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Gold sees longest rally since 2020

ByVictoria

“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

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    $3,000/oz milestone in sight for Gold

    ByVictoria
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    U.S. President Donald Trump’s latest tariff threats have ignited another gold rush, propelling the safe-haven metal to new heights and bringing the glittering $3,000 milestone into view.

    Spot gold climbed to a record $2,911.30 a troy ounce on Monday – its seventh record peak to date in 2025. Prices are already up nearly 11% so far this year after a staggering 27% gain in 2024.

    “Gold is very clearly targeting the $3,000 level and the market is incredibly strong, almost relentless. Now its only a question of when it will scale the level and not if it will,” independent analyst Ross Norman said.

    Source – Reuters

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    Scaling to level – In finance, is the ability of an organization to perform well under and increasing or expanding workload.

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    Copper futures fell by 22%

    ByVictoria
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    US President Donald Trump went ahead with 50% tariffs on copper imports but exempted refined metals, which are the mainstay of international trading. The move triggered a record plunge for US prices after a period of fat profits for traders who hurried metal to America before the levies kicked in. A large premium for New York futures over London evaporated.

    “The blow-out in the CME-LME spread has been touted as one of the most profitable commodity trades in modern history,” Daniel Ghali of TD Securities Inc. wrote in a note. “In a single session, the White House’s proclamation on copper tariffs annihilated the spread and catalyzed CME copper’s largest intraday fall on record.”

    Copper futures on Comex in New York fell by 22% as traders recalibrated the value of metal in the US versus the rest of the world.

    Source – Bloomberg

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    Auto shares dip, currencies fluctuate

    ByVictoria
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    “We believe that he’s using (auto tariffs) as a trade negotiation. The markets are jittery because nobody really knows what’s going to happen and what will come out in future,” Nicolas Lin, chairman and interim CEO of Aether Holdings.

    European stocks fell, with weakness in shares of Europe’s top carmakers such as Volkswagen down nearly 2%, while BMW lost almost 3% and Mercedes-Benz slid more than 4%.

    The dollar index, which measures the greenback against a basket of currencies, fell 0.2% to 104.43, with the euro up 0.24% at $1.0777.

    The Mexican peso weakened 0.82% versus the dollar at 20.288 while the Canadian dollar weakened 0.39% versus the greenback to C$1.43 per dollar as both countries are expected to be heavily impacted by the tariffs.

    Source – Reuters

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    Copper in London declined after impact of US tariffs

    ByVictoria
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    Copper can sustain current levels around $9 400 a ton until early April, after which the implementation of US tariffs could see prices drop to $8 500 within three months, Citigroup analysts including Tom Mulqueen said in a research note.

    Copper fell 0.4% to $9,438.50 a ton on the LME as of 10:14 a.m. in Shanghai, while other base metals were mixed.

    Source – Mining Weekly

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    Congressional gold medal reintroduced to honor James Earl Jones

    ByVictoria
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    “James Earl Jones was a national treasure — an artist whose voice and presence have left his mark on American culture. He broke barriers, inspired generations, and served our country with honor. As a proud constituent of New York’s 17th District, it is only fitting that he posthumously receives one of our nation’s highest honors,” said Congressman Mike Lawler (R-New York).

    Source – Coin World