Over the Weekend!

ByVictoria

The Price Of Gold From 2021-22 Has Long Rejected ‘Bidenflation’

Considering the price of gold throughout 2021, it averaged out to roughly $1,798/ounce, meaning the value of the dollar actually rose around 3 percent right at the time that the economy-sapping tax that is government spending continued under Biden, and allegedly caused “inflation.” To be clear, government spending is the worst tax of all exactly because it substitutes central planning of resources by the government for that of the private sector. Still, it logically doesn’t cause higher prices, or “inflation,” and it didn’t if gold is to be believed.

Source – Forbes

Silvercorp Metals Boosted By El Domo

Silvercorp’s El Domo project in Ecuador is set to boost revenues by 50% when it begins operations and diversify operations reducing jurisdictional risk.

Source – Seeking Alpha / Mountain Valley Value Investments

Hope you had a LOVEly Valentines weekend!

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    Copper tariffs begin on August 1st, Chile “singled out”

    ByVictoria
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    The U.S. is expected to implement a 50% tariff on copper imports at the end of the week, but what happens next is anyone’s guess as talk of an exemption for Chile, the biggest U.S. supplier of the metal, and a potential U.S. and European “metal alliance” heats up.

    “There remains uncertainty over country-based exemptions and a general sense of tariff fatigue,” wrote Natalie Scott-Gray, senior metals demand analyst at StoneX, in a note Tuesday. The European Union, meanwhile, looks to get a break when it comes to U.S. tariffs on steel, aluminum and copper.

    President Donald Trump’s announcement on July 8 of the coming tariff had led to a 13% spike in copper prices that day, to settle at $5.6855 a pound, a record-high finish at that time, based on data going back to 1968, according to Dow Jones Market Data.

    Scott-Gray said that when it comes to a potential country-based tariff exemption, Chile is “singled out,” not just because of Marcel’s comments and ongoing negotiations this week, but because the U.S. is reliant on Chile’s imports and the fact that the U.S. holds a trade surplus with Chile, she said.

    Source – Market Watch

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    Gold on week high, Silver up 1%

    ByVictoria
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    Gold prices rose for a third straight session on Wednesday and hit a one-week high, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty.

    Spot gold was up 0.7% at $3,312.51 an ounce, as of 1153 ET (1553 GMT). U.S. gold futures climbed 0.9% to $3,315.60.

    “We expect gold’s recent price dip will stimulate investment buying, as macroeconomic and geopolitical uncertainty linger,” said ANZ in a note.

    Silver rose 1% to $33.40 an ounce.

    Platinum was up 2.1% at $1,075.59 after hitting its highest since May 2024 earlier. Palladium added 1.8% to $1,031.05, an over six-month peak.

    Source – Reuters

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    Gold down, tariff could extend, Silver fell

    ByVictoria
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    Gold eased on Wednesday as risk appetite improved after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline, though a soft dollar and lower Treasury yields capped losses for greenback-priced bullion.

    Spot gold was down 0.2% at $3,423.44 per ounce, as of 0136 GMT, after hitting its highest point since June 16 earlier in the session. U.S. gold futures also slipped 0.2% to $3,437.70.

    Trump said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country.

    “If further trade deals are signed ahead of August 1, this could further boost general risk appetite and reduce the demand for gold,” CM Trade Chief Market Analyst Tim Waterer said.

    “But if the USD remains pressured this will keep a return to $3,500 a viable near-term prospect for the precious metal.”

    Spot silver fell 0.3% to $39.15 per ounce, platinum dropped 0.3% to $1,437.83 and palladium slipped 0.8% to $1,264.96.

    Source – Reuters

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    Mining firm Freeport-McMoRan jumps 4%

    ByVictoria
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    “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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    2025 Roosevelt silver will have differences

    ByVictoria
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    While the Theodore Roosevelt Presidential silver medal to be issued sometime this summer by the United States Mint will bear the same obverse and reverse designs as used for a silver medal included in the 2013 Theodore Roosevelt Coin & Chronicles Set, the new issue will have distinct differences.

    The obverse design is the same executed by Chief Engraver Charles E. Barber for the Mint’s 1905 Presidential medal from his second term, with the reverse design by Assistant Mint Engraver George T. Morgan.

    Source – Coin World