India gold price rises
The price for Gold increased to INR 94,784.55 per tola from INR 94,440.36 per tola a day earlier.
Source – FXStreet
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MAG Silver Corp reports Q4 2024
MAG Silver Corp.’s Q4 2024 results showed lower production due to lower grades, but full-year production exceeded revised guidance, leading to strong financials.
MAG Silver Corp. (NYSE:MAG) is a precious metals mining company with a few assets in North America. It has some early-stage exploration projects in the United States and Canada but gets most of its value from its 44% ownership in the Juanicipio mine in Mexico.
Source – Seeking Alpha
Trump Gold card will be launching in soon
U.S. Commerce Secretary Howard Lutnick said Wednesday that the Trump Gold Card, which makes it possible for any foreigner to buy a visa for $5 million, will be available online within weeks.
“The details of that will come soon after, but people can start to register. And all that will come over a matter of the next weeks — not month, weeks,” Lutnick said.
Source – FOX News
I have only recently seen the amount of news on this topic and was intrigued. Please let me know if this is a topic that you would like to see more of as I will just post more on this and write a piece on it. -V
Florence copper project, Florence Arizona
Construction continues to advance on schedule and first copper production is still targeted before the end of 2025. Overall project completion was at 78% as of March 31, 2025.
“The project is in great shape and Florence Copper will soon become a major new supplier of copper cathode for the US market. The project is uniquely positioned to produce and sell refined copper inside the United States and potentially benefit from premium COMEX copper pricing in the coming years.”
Source – Yahoo Finance
Gold and Silver headed for weekly gain
“The latest run-up in prices—in gold to an 11-week high near last year’s record, and silver towards resistance around USD 31—was triggered by Trump’s threat to impose tariffs on some of its major trading partners, including Canada, Mexico, Europe, and China.”
“Silver continues to recover from the deep end-of-year correction that saw the white metal tumble 17% from a 12-year high at $34.87 to a December low at $28.74. Besides renewed demand from wrong-footed short sellers in the futures market at the start of the year, prices have also been supported by… the fundamental outlook for a fifth consecutive annual supply deficit.”
Source – Seeking Alpha
Australian gold reinvigorated
Australia has not escaped the threat of increased tariffs on its exports to the U.S., but it does have one world-class industry which is reveling in commodity market confusion, gold.
Both Citi and RBC Capital Markets see the gold price continuing to rise while the Resources Department of the Australian Government is forecasting an increase in national output from 286 tons this year to 309 tons next year, cementing Australia’s position as the world’s third biggest gold producer after Russia and China.
Gold’s rise in U.S. dollars is magnified in Australia by the currency effect with an exchange current rate of US63 cents delivering an Australian gold price of A$4903/oz, a record which easily eclipses all earlier gold booms.
Source – Forbes
U.S. Copper tariffs cause relocation of metal
U.S. President Donald Trump’s threatened tariff on copper imports has generated a mass relocation of physical metal, swamping the U.S. market and draining the rest of the world.
The physical response has been so powerful that it has caused the futures arbitrage between the CME contract and the London Metal Exchange (LME) price to collapse.
CME copper inventory has risen by 81% since the start of the year and is now at an eight-year high of 168,563 short tons (152,919 metric tons).
LME copper inventory has slumped to a one-year low of 179,375 tons, with 40% of what remains awaiting physical load-out.
China’s imports of refined copper fell 5% on a year-over-year basis and 20% on a quarter-over-quarter basis in the January-March period as metal was diverted to the U.S.
Source – Reuters