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Over the weekend!

ByVictoria

‘Pivotal Moment’—Coinbase CEO Predicts When Bitcoin Price Could Flip Gold’s $18 Trillion

“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

Korea Zinc’s shares rose sharply

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

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    Will gold reserves replace dollar?

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    The Reserve Bank of India (RBI) is not increasing the reserves of gold to replace any international currency, Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha.

    “Gold is also kept in the Reserve Bank and gold is also being bought by the Reserve Bank. But beyond that, as regards an international currency or potential currency, there is not much for me to comment at this stage,” FM Nirmala Sitharman said.

    “I think it is very typical of India, particularly for households of small businesses and, it is normally said, women, but general households also, and women also, to invest in gold because they think it’s far more secure and far more liquid” FM Nirmala Sitharaman said.

    “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Trump posted on Truth Social after assuming power as the President of the US.

    Source – Mint

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    Freeport set to resume copper exports from Indonesia

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    Indonesia has restricted raw material exports to pressure companies to refine minerals locally and add value to its exports. Freeport has local refining capacity, but is seeking to keep exporting concentrate due to a fire last October at its Manyar smelterin East Java.

    Should exports resume, it will relieve, although not reverse, a shortage of copper concentrate that has hit the profits of smelters.

    Source – Reuters

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    10lbs gold nugget up for auction

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    In 1979, a couple using a metal detector in the Kalgoorlie Goldfields of Western Australia located a massive gold nugget. Known today as the “Golden Beauty,” the nugget weighs in at nearly 10 pounds.

    It is currently on the auction block. According to Heritage Auctions, the opening bid was $400,000.

    At the current spot price, the gold is worth around $481,800.

    “Gold always has been enormously popular, in part because of its pure value and beauty, but also because it is exceedingly rare,” Heritage Auctions vice president of nature and science Craig Kissick said.

    Source – Money Metals

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    Citi predicts 25% copper-specific tariff

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    Citi anticipates an eventual implementation of a 25% copper-specific tariff by the fourth quarter of 2025, following U.S. President Donald Trump’s executive order initiating an investigation into U.S. copper imports, the bank said in a note on Wednesday.

    Source – Reuters

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    Silver sees 10-year peak

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    “Silver’s been a laggard, and some would refer to it as the Cinderella metal, because it always misses the ball. Having said that, silver has finally woken up and broken above some key technical resistance,” independent analyst Ross Norman said. If current momentum continued, silver could challenge the $35 level, he added.

    “Silver has a long history of higher volatility than gold, and that when gold makes a decisive move, silver’s amplitude is usually 2.0-2.5 times that of gold,” StoneX analyst Rhona O’Connell said in a recent note.

    Source – Reuters

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    “Incredible demand for physical gold” in New York Markets

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    “There is incredible demand for physical gold in New York markets,” said Peter Spina, president and founder of gold news and information provider GoldSeek.com., referring to it as a “physical gold rush.”

    “Those who are caught short physical metal are looking around and seeing a window closing here,” he said. They’re “desperately seeking physical metal before the price could jump overnight.”

    “Meeting a surge in demand will always stretch capacity, but London vaults have been working overtime to service this London-New York flow,”

    Source – Market Watch