Newmont, the Colorado-based gold miner, was one of the worst-performing stocks in the S&P 500SPX+0.52% Friday as the price of gold slumped from its June record high.
Newmont stock, meanwhile, has risen 59% this year as of Thursday’s close, and competitors like Barrick Mining and Agnico Eagle Mines have also seen their share prices soar.
Source – Barron’s
“The market is really trying to understand how aggressive these potential tariffs could be and I think the problem is no one really knows the answer,” said Nitesh Shah, commodity strategist at WisdomTree.
Alastair Munro, senior base metals analyst at Marex, said copper found some support from contrarian buying from some Commodity Trade Advisor (CTA) investment funds, which are largely driven by computer programs.
Source – Reuters / Live Mint
The white metal now seems poised to advance further towards last Friday’s swing high, around the $33.35-$33.40 zone before aiming to reclaim the $34.00 round-figure mark.
Source – FXStreet
The threat of U.S. trade measures against China has weighed on industrial raw materials since the November election, with prices pressured earlier this week when Trump said he could impose a 10% levy on Chinese goods.
Source – Seeking Alpha
Source – Money Metals
Saigon Jewelry Company bar went up 1.09% to VND92.3 million (US$3,619.61) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring also reached a new peak at VND91.5 million per tael.
Source – eVnExpress
“Any country with gold reserves should be holding at least 11% of that amount in bitcoin reserves,” Armstrong posted to X in response to criticism of Trump’s plan for a national bitcoin reserve. “And I believe in the next five to 10 years bitcoin’s market cap will likely surpass gold. So these reserves should grow to exceed gold.”
“We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC.
Source – Forbes
The stock climbed 12% on Friday, its steepest one-day gain in nearly two months, outperforming the benchmark Kospi index’s 0.85% rise.
The extraordinary shareholders’ meeting had initially been called by private-equity firm MBK Partners and Korea Zinc’s major shareholder Young Poong, which have teamed up and increased their combined stake to more than 40% since September for control of the smelter, to reshape its board and management led by Chairman Yun B. Choi.
Source – The Wall Street Journal
