“We have gone through all our shutdowns and proprietary maintenance and all that in the first three quarters. We should be able to produce a stellar fourth quarter based on our numbers,” Misra told Reuters in an interview.
Misra expects zinc prices to rise to $2,850-$2,950 a ton in the coming days from $2,800 currently, and silver to trade between $30 and $31 per ounce.
Source – Reuters
“Investors around the world have started the year looking for protection against sticky and potentially rising inflation, fiscal debt worries and the unpredictability of Trump,” said Ole Hansen, head of commodities strategy at Saxo Bank.
“The market is sleepwalking into a squeeze right now,” Daniel Ghali, senior commodity strategist at TD Securities, said in an interview. “People are completely disregarding this risk.”
Source – Bloomberg / Yahoo Finance
Central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, billionaire investor John Paulson said in an interview during which he reinforced his commitment to U.S. mining projects
Already the largest shareholder in Idaho gold and antimony developer Perpetua Resources, Paulson last week bought a 40% stake in NovaGold’s Donlin gold project in Alaska from Barrick.
“It’s a well-informed prediction. I think that’s a reasonable number,” he said.
“As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,” he added
Source – Reuters
The most active futures on gold are currently trading at $2745.10, up $27.30 or 1% from a day earlier. That level is just about 2% shy of its all-time settlement high of $2800.80 marked on Oct. 30. If the contract closes at current levels, it would be the highest close since last month, according to the Dow Jones Market Data.
“Gold remains the consummate hedge for investors worried about inflation or growth,” wrote Jared Woodard and the team from BofA securities on Tuesday. Gold was labeled as BofA’s “highest conviction investment ideas for 2025.”
Source – BARRON’S
BofA securities – Bank of America Inc., previously Bank of America Merrill Lynch (BAML) is an American multinational investment banking division under the auspices of Bank of America.
U.S. Commerce Secretary Howard Lutnick said nothing would stop President Donald Trump’s expanded 25% tariffs on steel and aluminum until U.S. domestic production is strengthened, and that Trump will add copper to his trade protections.
“We can’t be in a war and rely on steel and aluminum from some other country. I mean, it’s just not reasonable,” Lutnick said. “So the president wants steel and aluminum in America, and let me be clear, nothing is going to stop that until we’ve got a big, strong domestic steel and aluminum capability. And by the way, he’s going to add copper to that mix too.”
Source – Reuters
Citi expects the price of gold to consolidate around $3,100 to $3,500 per ounce in the third quarter, as prices moderate due to geopolitical de-escalation in the Middle East and an improved global growth outlook, the bank said in a note on Monday.
“We expect continued price consolidation … and highlight our view that we may have already seen the highs at $3,500/oz in late April as the gold market deficit is peaking soon if not already,” Citi said in the note.
Source – Reuters
The silver market has seen a lot of noise at the $33 level, as it is a major resistance level from what I can see. At this point, you need to understand that the silver market is not just a precious metal, but an industrial one.
Source – FX Empire