“Codelco remains a good option to grab some extra spread over sovereign bonds.”
Copper futures are up about 15% this year in New York, although part of that is due to an up-tick in buying ahead of possible tariffs.
“Good governance and high copper prices should be good for bonds. Codelco is interesting.”
Source – Bloomberg
Anglo American said it does intend to sell the remainder of its retained shares over time, and said that it will not hold any representation on the Anglo American Platinum board after the split.
Source – Morning Star
Gold fell more than 1% on Tuesday as signals of easing U.S.-China trade tensions reduced some safe-haven demand, while investors braced for key economic data this week to gauge the Federal Reserve’s policy outlook.
Spot gold was down 1.2% at $3,300.57 an ounce as of 9:50 a.m. ET (1350 GMT). U.S. gold futures fell 1.1% to $3,310.20.
“There is some optimism that there will be some de-escalation of the trade war between the U.S. and China,” said David Meger, director of metals trading at High Ridge Futures.
“We’ve seen the equity markets rebound over the course of the last several sessions. So there’s been a bit of a lesser need for safe havens like gold.”
Spot silver rose 0.1% to $33.2 an ounce, platinum eased 0.3% to $983.26 and palladium lost 0.8% to $941.51
Source – Reuters
Major stock indexes rallied, the dollar gained against the euro and other currencies while safe-haven gold dropped on Wednesday as investors grew optimistic about a possible de-escalation in the trade war between the U.S. and China.
“There seems to be some light at the end of the tunnel here in terms of the trade war,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
The euro was last down 0.36% against the dollar at $1.1379. Against the Japanese yen, the dollar strengthened 0.49% to 142.28.
U.S. Treasury yields declined after the U.S. administration’s signal of a potential respite in the U.S.-China trade war and Trump’s softening stance on Powell.
Source – Reuters
Musk has cast doubt on whether the gold remains at Fort Knox, writing on X: “This gold is the property of the American people. I sure hope it’s still there!”
“Who is confirming that gold wasn’t stolen from Fort Knox?” Musk also posted.
Source – ABC News
Copper prices drifted higher on Wednesday as investors waited for details of U.S. reciprocal tariffs, but tin extended a rally to its highest in nearly three years on supply fears.
Benchmark three-month copper on the London Metal Exchange (LME) was up 0.2% at $9,711 a metric ton by 0953 GMT after slipping to its weakest in three weeks at $9,668.50.
“Investors are confused, they’re uncertain about the outlook. It’s mostly tariff-related, although there’s also global conflict, currency debasement and confusion around central bank policy,” said Tom Price, head of commodities strategy at Panmure Liberum.
“Aluminium gives you an insight into what copper might do. It has gone through the first phase of factoring in the cost of tariffs and now it’s going into the second phase, where demand is deteriorating,” Price said.
Source – Business Recorder
In less than five hours June 13, collectors and the public at large placed sufficient orders to exhaust the maximum authorized mintage of 100,000 Proof 2025-W American Eagle, 250th Anniversary United States Army privy-marked 1-ounce silver dollars, launched for sale at $105 per coin.
The remaining 90,000 available for the June 13 sales launch were sold within five hours.
“Almost immediately, we became aware of concerns regarding the wait times customers in the waiting room were receiving, with some customers initially receiving estimates of 8 hours to ‘more than a day.’ We also encountered issues with payment processing, which were exacerbated by bots and people trying to avoid the household order limits.
For the waiting room, the Mint is looking for ways we can improve this customer experience. The waiting room looks at current traffic trends when calculating wait times.
Source – Coin World
