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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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    A surge in rates to borrow the precious metal has become the latest sign of alarm, with anxiety building over the impact of further tariffs from US President Donald Trump. That’s sparked a dash to ship silver into the US in a bid to capture premium prices in New York, possibly causing a squeeze in London.

    “Should the long-fabled ‘silver squeeze’ materialize, this slower tradeflow will be a key contributor to prolonging” any potential disruption BMO Capital Markets analyst George Heppel said in a note. That’s because it would take time for silver stockpiles to flow from the US back to London, he said.

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    ZiJin Mining boosting gold and copper

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    The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028

    “Our stated goal is to become a green, high-tech, leading global company,”

    “By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining

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    JP Morgan expects copper prices at $11,000 in 2026

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    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.

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    Gold prices recovered during early trade

    ByVictoria
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    “The precious metal pushed back above $2,600/oz, suggesting the market saw the selloff as overdone,” ANZ Research analysts said in a note to clients. “Nevertheless, the market will take some time to adjust to the pivot the Fed appears to have taken on rates.”

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    Kentuckians could sue Gov. Andy Beshear over a gold and silver sales tax

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