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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 reaches Rs 83,000 per 10 grams for the first time

    ByVictoria
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    “Gold extended gains on Friday, with spot gold in the domestic market hitting fresh all-time highs,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

    “Prices in MCX are near record high as Trump trade policies and tariff plans created an uncertain environment in the market, which may boost safe-haven demand,” Deveya Gaglani, Research Analyst-Commodities, Axis Securities, said.

    Comex silver futures also increased 1.53 per cent to USD 31.32 per ounce in the Asian market hours.

    Source – Press Trust of India

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    Gold is turning jewelers to platinum

    ByVictoria
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    Prices of platinum, a white precious metal, have rallied over 30% this year to date, with spot prices currently around $1,200 per ounce. Spot gold prices are around 27% higher over the same period.

    “Rising gold prices are incentivising jewellers to diversify, in what represents a change to historical patterns.”

    The BofA analysts wrote that even a 1% switch in gold to platinum jewelry could help double the white metal’s supply deficit to 1.6 million ounces.

    Source – Markets Insider

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    Copper in London declined after impact of US tariffs

    ByVictoria
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    Copper can sustain current levels around $9 400 a ton until early April, after which the implementation of US tariffs could see prices drop to $8 500 within three months, Citigroup analysts including Tom Mulqueen said in a research note.

    Copper fell 0.4% to $9,438.50 a ton on the LME as of 10:14 a.m. in Shanghai, while other base metals were mixed.

    Source – Mining Weekly

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    Barrick Gold temporarily suspended from mining in Mali

    ByVictoria
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    News is from 1/14/2025
    This is a follow up on Barrick Gold and it’s current mining situation.

    Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the company remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Additionally, the interim attachment order on the gold has now been executed by the Malian government by moving the existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold.

    As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work towards a resolution.

    Barrick remains committed to constructive engagement with the Malian government and all stakeholders to find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and its vital contribution to Mali’s economy and communities.

    Source – Barrick

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    Silver trading at $34.31 an ounce

    ByVictoria
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    Silver prices marched past the $34-an-ounce mark on Monday as market sentiment soured over the weekend in the wake of renewed US-China trade tensions.

    Spot silver traded as high as $34.31 per ounce during the session, for a gain of more than 4%. Comex silver futures also rose 4.5% to $34.51 an ounce.

    Source – Mining.com

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    Silver prices showing momentum as US tariff Mexico and Canada

    ByVictoria
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    Putting tariffs on the world’s largest silver producer, Mexico, and a bullish seasonal window has woken the silver bulls.

    Silver is showing strong signs of bullish momentum, supported by seasonal demand, a favorable technical picture, and a fundamental catalyst in the form of tariffs on Mexico and Canada.

    Source – Barchart / Written by Don Dawson