| |

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

Similar Posts

  • /

    Silver Storm Files Technical Report and debt settlement

    ByVictoria
    0 Comments

    Silver Storm Mining Ltd. (“Silver Storm” or the “Company“) is pleased to announce that it has filed an independent National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“) Technical Report titled “Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico” with an effective date of December 31, 2024 (the “Technical Report“). The Technical Report updates the Mineral Resource estimate at the Company’s 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico.

    The Company also announces that it has entered into a debt settlement letter agreement with a drilling service provider (the “Creditor“) to settle the Company’s outstanding debt for past services performed by the Creditor in the amount of $578,200 (the “Debt“) by issuing 4,818,333 common shares in the capital of the Company (the “Common Shares“) at a deemed price of $0.12 per Common Share (the “Shares-for-Debt Transaction“).

    Source – Yahoo Finance

  • /

    Poland copper mining tax to end in 2026

    ByVictoria
    0 Comments

    Poland’s copper mining tax will fall from next year under a new system that will provide deductions related to investment spending, Polish finance minister Andrzej Domanski said on Friday.

    The tax on mineral extraction, including copper, was introduced in 2012. Poland’s biggest copper miner KGHM paid 3.87 billion zlotys in tax in 2024, according to its annual report.

    “By taking care of investments in Poland, by taking care of the development of KGHM, we also take care of the collective security of the West and the European Union.”

    Source – Reuters

  • /

    Copper futures up 5%

    ByVictoria
    0 Comments

    U.S. copper futures rallied nearly 5% on Wednesday, rising more than other global benchmarks, after President Trump said imports of the metal would be subject to a 25% tariff; the front-month May Comex contract (HG1:COM) currently +4.6% at $4.76/lb.

    Trump’s comments in last night’s speech to Congress sparked a surge in Comex copper prices in Asian hours, as traders reacted to the possibility that copper tariffs could be larger than expected.

    “A 25% tariff was clearly not what the market was expecting before those comments, and now traders are scrambling to price in the correct level, whatever that might end up being,” Saxo Bank’s Ole Hansen said. “Whatever the final tariff is, the disruption to global trade flows is very real.”

    Source – Seeking Alpha

  • /

    100K-150K metric tons of copper to arrive in the US

    ByVictoria
    0 Comments

    The U.S. will soon be flooded with massive amounts of copper shipments in a global rush to front-run President Trump’s probable tariffs, with 100K-150K metric tons of refined copper expected to arrive in U.S. ports in the coming weeks, which potentially would surpass the all-time record of 136,951 tons set in January 2022, Bloomberg reported Wednesday.

    Goldman Sachs analysts said they expect all forms of copper shipped to the U.S. to be hit with tariffs by year-end, keeping Comex prices at a hefty premium over other benchmarks, and noted that tariffs could cause China to refine 10K-20K tons/month less copper within the first three months – in a global market that Goldman already expected to face a 180K-ton deficit this year.

    Source – Seeking Alpha

  • /

    London Metals Exchange, Mixed signals in precious metals

    ByVictoria
    0 Comments

    Zinc, the biggest loser in the LME complex, is currently trading 4.8% lower than at the start of the year.

    Meanwhile, tin prices have increased by 13.5% in the first few weeks of the year, making it the biggest winner.

    Copper refining grew as expected at 4.2%, but mine production surprised at 2.3%, 0.5% higher than the ICSG September forecast.

    The supply of refined copper is under threat due to mine production, which has put downward pressure on processing fees in copper smelters, according to Commerzbank.

    The lead market experienced a minor oversupply due to a substantial increase in mine production.

    This increase, just under 2%, was fueled by significantly higher supply in the US, Australia, Peru, and Mexico.

    Source – Invezz

  • /

    Silver sees 10-year peak

    ByVictoria
    0 Comments

    “Silver’s been a laggard, and some would refer to it as the Cinderella metal, because it always misses the ball. Having said that, silver has finally woken up and broken above some key technical resistance,” independent analyst Ross Norman said. If current momentum continued, silver could challenge the $35 level, he added.

    “Silver has a long history of higher volatility than gold, and that when gold makes a decisive move, silver’s amplitude is usually 2.0-2.5 times that of gold,” StoneX analyst Rhona O’Connell said in a recent note.

    Source – Reuters