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LME copper spreads surge to premium on short covering

ByVictoria

The spread between the cash LME copper contract and benchmark three-month futures spiked to a premium for the first time in 19 months on Friday.

It rocketed to $249 a metric ton, the highest since November 2021, compared to a discount, or contango, of $119 two days ago.

Copper prices on COMEX have surged as investors seek to price in potential tariffs, with the premium of COMEX over LME at $1,050 a ton on Friday, down from a record peak of $1,153 a day earlier.

Source – Mining.com

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    Founding Member Spotlight: Harlan J. Berk, Ltd.
    I’m excited to feature Harlan J. Berk, Ltd. of Chicago as a Founding Member of the Victorias Coin National Gold & Silver Dealer Directory.
    With more than 50 years of expertise, HJB offers a full range of numismatic services, including:

    • Library & Research Center
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      🪙 Specialists in ancient and rare coins
      Visit their Chicago location or explore their auctions online.

    If you’d like to visit their listing please visit the Illinois page and give them a call today or if you’re in the area head on over and meet the team.

    -V.

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    Sandstorm Gold (NYSE:SAND) +9.5% pre-market Monday after saying Royal Gold (NASDAQ:RGLD) agreed to acquire the company in an all-stock transaction with an implied value of ~$3.5B.

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    The dollar fell to a one-week low against a basket of major currencies as oil prices declined and demand for safe havens waned. Investors can “breathe a sigh of relief that chances of a major escalation have been reduced,” Jefferies economist Mohit Kumar said. The DXY dollar index fell 0.4% to a low of 97.969.

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    Futures – are contracts to buy or sell a specific asset at a future date.

  • Hello Georgia!

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    The beautiful state of Georgia has been completed with precious metals dealers from gold & silver to coin dealers. Lots of businesses ready to buy and sell bullion especially in the Atlanta area of the state.

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