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Gold up .5%, Silver up .7%

ByVictoria

Gold prices rose on Thursday, supported by a pullback in the dollar and the prospect of U.S. interest rate cuts later in the year, while investors awaited more details on U.S. President Donald Trump’s trade policy.

Spot gold was up 0.5% to $3,328.23 per ounce by 0916 GMT. U.S. gold futures gained 0.5% to $3,336.90.

“The passing of the One Big Beautiful Bill, unsettling trade (policies) and rate-cut expectations should be ‘dollar negative’ kind of events… gold should be favoured in that environment,” said WisdomTree commodities strategist Nitesh Shah

Spot silver rose 0.7% to $36.59 per ounce, platinum gained 0.9% to $1,359.65, and palladium climbed 1.2% to $1,117.93.

Source – Reuters

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    China gold falls 5.96%

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    China’s gold consumption fell 5.96% year-on-year to 290.492 tonnes in the first quarter of 2025 as high gold prices continued to curb demand for gold jewellery, the China Gold Association said on Monday.

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    Mining firm Freeport-McMoRan jumps 4%

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    “American industries depend on copper, and it should be made in America, no exemptions, no exceptions,” Commerce Secretary Howard Lutnick said. “It’s time for copper to come home.”

    But while the tariffs could be positive for the domestic metals sector, implemented copper tariffs could amplify costs across several segments of the economy. Copper has a broad range of uses, and its cost is an input in the price of everything from electronics to construction materials.

    Trump’s tariff probe sparked a surge in copper futures, which rose 1.76% Wednesday morning.

    Source – Markets Insider

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    Copper mine collapse, 1 killed 5 trapped

    ByVictoria
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    A collapse at a copper mine in Chile killed one worker and left five trapped underground, authorities said on Friday, forcing Chile’s state mining company to suspend operations in the affected area of the world’s largest underground copper deposit.

    Nine other mine workers suffered injuries, said Chile’s National Copper Corporation, known as Codelco, describing the incident as the result of “a seismic event.”

    The U.S. Geological Survey reported a magnitude 5 earthquake in an area of central Chile where Codelco’s El Teniente mine is located, at 5:34 p.m. local time on Thursday. Authorities said they’re still investigating whether it was a naturally occurring earthquake or whether mining activity at El Teniente caused the quake.

    “We are making every effort to try to rescue these five miners,” said Andrés Music, general manager of El Teniente. “The next 48 hours are crucial.”

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    Praying for these people to be rescued. -Victoria

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    Trump to make sure Fort Knox gold is there

    ByVictoria
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    “We’re going to go into Fort Knox to make sure the gold is there… do you know about that?” Trump said to a reporter aboard Air Force One, according to a video posted to X by Musk.

    “We hope everything is fine with Fort Knox, but we’re going to go into Fort Knox, the fabled Fort Knox, to make sure the gold is there.”

    “If the gold isn’t there, we’re going to be very upset,” Trump said.

    Then-Treasury Secretary Steven Mnuchin and Sen. Mitch McConnell, R-Ky., visited the vaults in 2017. They reported that, despite various conspiracy theories, the gold was present.

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