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Gold up, investors nervous

ByVictoria

“Gold has again moved to yet another record, with its safe-haven reputation shining bright,” said analysts at RBC Capital Markets. “With the uncertainty related to Fed independence, gold continues to benefit as a safe-haven, and one not tied to the U.S. dollar.”

Gold has been soaring since early April when investors, alarmed by Mr. Trump’s tariffs, starting selling Treasury bonds. On Tuesday, the spot price of a troy ounce of gold briefly reached above $3,500 before slipping lower.

Source – New York Times

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    Gold falls, trade war fears continue

    ByVictoria
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    Spot gold fell 0.6% to $2,934.99 an ounce as of 09:55 a.m. (1455 GMT), after reaching $2,956.15 on Monday.

    U.S. gold futures declined 0.5% to $2,948.60.

    Trump said on Monday that tariffs on Canadian and Mexican imports were “on time and on schedule”

    “I still think that there’s enough uncertainty out there associated with tariffs (and) trade more generally… dips are going to continue to be viewed as buying opportunities,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver shed 1.2% to $31.96 an ounce, platinum dropped 0.8% to $959.35 and palladium lost 0.8% to $932.50.

    Source – Reuters

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    Arizona Sonoran Copper makes big announcement valued at C$19.9m ($13.83m) with Hudbay Minerals

    ByVictoria
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    Under this agreement, Hudbay will subscribe for 11,852,064 common shares of Arizona Sonoran at C$1.68 per share.

    Arizona Sonoran president and CEO George Ogilvie said: “We are pleased and appreciative to welcome this further endorsement of our project and the go-forward plan by the team at Hudbay. It is the company’s objective to develop Cactus to be a significant producer of copper cathodes for direct use by industry in the state of Arizona and the larger US supply chain.

    “We welcome Hudbay, a mid-tier base metal producer with decades of base metal successes in the Americas and a strong existing footprint in Arizona, as a larger and increasingly engaged shareholder, able to lend its experience and expertise as we advance and develop Cactus.”

    Source – Global Data

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    Copper settled above $5

    ByVictoria
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    Copper’s rise is being driven “solely by supply concerns surrounding the potential for universal tariffs to be placed on all imports of copper into the U.S.,” said Natalie Scott-Gray, a senior metals demand analyst at StoneX. The U.S. is “heavily reliant on foreign copper, with imports accounting for [around] 45% of demand.”

    Copper prices have climbed more than 23% in 2025 through Monday, according to Dow Jones Market Data.

    Source – Market Watch

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    Copper tariffs begin on August 1st, Chile “singled out”

    ByVictoria
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    The U.S. is expected to implement a 50% tariff on copper imports at the end of the week, but what happens next is anyone’s guess as talk of an exemption for Chile, the biggest U.S. supplier of the metal, and a potential U.S. and European “metal alliance” heats up.

    “There remains uncertainty over country-based exemptions and a general sense of tariff fatigue,” wrote Natalie Scott-Gray, senior metals demand analyst at StoneX, in a note Tuesday. The European Union, meanwhile, looks to get a break when it comes to U.S. tariffs on steel, aluminum and copper.

    President Donald Trump’s announcement on July 8 of the coming tariff had led to a 13% spike in copper prices that day, to settle at $5.6855 a pound, a record-high finish at that time, based on data going back to 1968, according to Dow Jones Market Data.

    Scott-Gray said that when it comes to a potential country-based tariff exemption, Chile is “singled out,” not just because of Marcel’s comments and ongoing negotiations this week, but because the U.S. is reliant on Chile’s imports and the fact that the U.S. holds a trade surplus with Chile, she said.

    Source – Market Watch

  • Gold toilet thief and accomplice convicted!

    ByVictoria
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    “This was an audacious raid which had been carefully planned and executed,” prosecutor Shan Saunders said. “But those responsible were not careful enough, leaving a trail of evidence in the form of forensics, CCTV footage and phone data.”

    The purloined potty was stolen just days after its installation. It has never been recovered but is believed to have been cut up and sold.

    Jones, 39, was convicted of burglary in Oxford Crown Court.

    The theft was planned by James Sheen, 40, who previously pleaded guilty to burglary, conspiracy and transferring criminal property.

    Doe, 36, also known as Frederick Sines, was convicted of conspiracy to transfer criminal property.

    A fourth man charged in the conspiracy, Bora Guccuk, 41, was acquitted by jurors.

    Source – CBS News

    WOW! Looks like justice was served. I will continue to follow up on jail time. Stealing a gold toilet from Winston Churchills house is bold to say the least. I wonder if the art will be made again after this. We’ll see! – V.

  • Weak dollar and Treasury yields

    ByVictoria
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    “U.S. dollar and Treasury yields are lower, which is helping gold catch a bit of support… The overall uptrend remains intact and the path of least resistance favours the upside,” said Ilya Spivak, head of global macro at Tastylive.

    “Prices have been stable in a range between about 2,830 and 2,960 for the past four weeks… We would need to see a convincing break above or below these boundaries to conclude that some sort of lasting directional move is resuming.”

    Spot silver added 0.3% to $32.19 an ounce, platinum was steady at $957.89 and palladium lost 0.3% to $940.47.

    Source – Reuters