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Goldman Sachs forecasts up to 12 month copper prices

ByVictoria

Goldman Sachs on Wednesday maintained its London Metal Exchange copper price forecasts for the next year, and said it expected the implementation of U.S. tariffs on copper imports to prevent a U.S. stock glut in the third quarter.

Goldman forecasts three-, six-, and twelve-month LME copper prices at $9,600, $10,000 and $10,700 per metric ton respectively. The bank flagged a near-term downside risk to prices from a trade policy update due to take effect on April 2.

Source – Reuters

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    Citi raises gold price target

    ByVictoria
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    “In our bull case, we see gold prices reaching $3,500 per ounce by year-end, underpinned by much higher hedging/investment demand on fears of US hard landing/stagflation,” analysts at Citi said in a note.

    Source – Reuters

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    Analysts poll on gold and silver

    ByVictoria
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    Analysts in a quarterly Reuters poll have forecast an average annual gold price above $3,000 for the first time, with global trade friction and a swing away from the U.S. dollar powering demand.

    The poll of 29 analysts and traders returned a median forecast of $3,065 per troy ounce of gold for this year, up from $2,756 predicted in a poll three months ago. The estimated price for 2026 rose to $3,000 from $2,700.

    The poll forecast an average 2025 silver price of $33.10 per ounce, unchanged from the previous survey. It has averaged $32 so far this year.

    Analysts lifted their 2026 silver price forecast to $34.58 from $33.45, expecting a structural market deficit and the global clean energy transition to provide support.

    Source – Reuters

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    Chile copper mine produces first cathode

    ByVictoria
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    A Chilean startup backed by BHP Group has delivered its first copper cathodes from a demonstration plant at a mine site in northern Chile as the industry looks to squeeze out more metal from lower quality ore.

    Ceibo and firms such as Jetti Resources LLC and Rio Tinto Group’s Nuton venture are looking to roll out catalysts for liberating copper from low-grade ore that miners previously saw as too expensive and difficult to process.

    Source – Mining.com

    Copper cathode – is high quality copper that is produced through the process of electrolysis.

    Electrolysis – is an electric current that passes through a substance to have a chemical change.

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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.”

    Source – The Associated Press

    Praying for these people to be rescued. -Victoria

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    Silver Continues to See Buyers on Dips

    ByVictoria
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    Silver has initially fallen significantly in the early hours of Tuesday, as the market reacted to the ceasefire, taking out some of the “risk trade.” However, we are holding the range again. Ultimately, there are a lot of “moving pieces” to pay attention to. 

    Source – FX EMPIRE

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    Gold breaks $3000, what happened

    ByVictoria
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    “Gold is an asset that is able to preserve value under the biggest variety of macroeconomic dislocations that we have seen,” said Thomas Kertsos, co-portfolio manager at First Eagle Investment Management LLC. “We’ve seen that over centuries gold has been able to — despite the volatility — always mean-revert and always maintain its purchasing power, all while providing significant liquidity.”

    “You’ve got huge uncertainty coming out of US policy that’s also just casting its shade over the global economy this year,” said Ian Samson, a multi-asset portfolio manager at Fidelity in Singapore.

    The foundations for the gold rally were partly set by global central banks’ wariness of relying heavily on the US dollar, also a reflection of geopolitical uncertainty.

    Source – Bloomberg

    Rally – is a period of sustained increases in the prices of related indexes. In this case we are talking about gold.