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Mining firm Freeport-McMoRan jumps 4%

ByVictoria

“American industries depend on copper, and it should be made in America, no exemptions, no exceptions,” Commerce Secretary Howard Lutnick said. “It’s time for copper to come home.”

But while the tariffs could be positive for the domestic metals sector, implemented copper tariffs could amplify costs across several segments of the economy. Copper has a broad range of uses, and its cost is an input in the price of everything from electronics to construction materials.

Trump’s tariff probe sparked a surge in copper futures, which rose 1.76% Wednesday morning.

Source – Markets Insider

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    Gold falls, trade war fears continue

    ByVictoria
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    Spot gold fell 0.6% to $2,934.99 an ounce as of 09:55 a.m. (1455 GMT), after reaching $2,956.15 on Monday.

    U.S. gold futures declined 0.5% to $2,948.60.

    Trump said on Monday that tariffs on Canadian and Mexican imports were “on time and on schedule”

    “I still think that there’s enough uncertainty out there associated with tariffs (and) trade more generally… dips are going to continue to be viewed as buying opportunities,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver shed 1.2% to $31.96 an ounce, platinum dropped 0.8% to $959.35 and palladium lost 0.8% to $932.50.

    Source – Reuters

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    Gold and Silver to be legal tender in Florida

    ByVictoria
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    Gov. Ron DeSantis signed a bill on Tuesday that would recognize gold and silver as legal tender in the state, paving a path for Floridians to use the commodities in payment transactions.

    The bill, HB 999, starts the process of allowing government or private entities, such as businesses, to voluntarily accept gold and silver as a form of debt payment. The bill also outlines sales tax exemptions on the purchase of the precious metals if they meet the purity requirements or if the sale of the gold or silver exceeds $500.

    HB 999 is set to go into effect on July 1, 2026, if the Florida Legislature ratifies the rules to implement the bill before then.

    “Florida stands firmly for freedom, economic self-determination, and resistance to government overreach,” the governor said. “But for too long, outdated regulations and unnecessary sales taxes have made it impractical for Floridians to enter the gold and silver market.”

    Source – Business Insider

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    25th anniversary Sacagawea dollar

    ByVictoria
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    Proposed designs for a half-ounce .9999 fine gold Sacagawea dollar to be issued in 2025 by the United States Mint, to recognize the 25th anniversary of the 2000 release into circulation of the manganese-brass clad Sacagawea dollar, were reviewed and recommended Feb. 18 by the Citizens Coinage Advisory Committee.

    The U.S. Mint is preparing to strike the coins with a W Mint mark at the West Point Mint.

    Source – Coin World

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    Silver Prices Strengthen [SMM REVIEW]

    ByVictoria
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    According to SMM, the cash spot prices for national standard silver ingots in Shanghai today were quoted at a discount of 4 yuan/kg to 1 yuan/kg, while the premiums and discounts for large-scale silver ingots were quoted at a range of a discount of 2 yuan/kg to parity.

    Source – SMM

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    Glencore’s Steelmaking Company production fell

    ByVictoria
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    Glencore’s steelmaking coal production in the first half soared following the integration of Elk Valley Resources, but copper and gold output fell.

    Elk’s contribution pushed first-half production expressed in copper equivalents up 5%. This is despite copper production falling 26% to 343,900 tons and gold output dropping 18% to 301,000 ounces.

    The FTSE 100-listed company said it was confident that it can deliver its full-year production guidance but tightened the ranges of some of its commodities to reflect its performance to date.

    Source – The Wall Street Journal

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    Silver Continues to See Same Ceiling

    ByVictoria
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    The silver market continues to threaten the same barrier, which starts at the $32.35 level, and then reaches the $32.50 level before it is all said and done. Because of that, the market, I believe, is just simply grinding away or even pecking away, if you will, at the barrier that has been one of the biggest factors here in the silver market.

    Source – FXEMPIRE / Opinion