Perth Mint Gold stock
Source – Reuters
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Copper in a slump
London Metal Exchange (LME) three-month copper slumped to a 17-month low of $8,105 per metric ton on April 7 after China responded to U.S. tariffs in kind.
Citi, which now expects copper to hit $8,000 per ton over the next three months, warns that commodity markets are still not pricing the full potential impact on demand.
Copper as a macro play cannot but reflect the broader market concerns about the negative impact of an escalating trade war between the United States and China on the world economy.
But at a micro level, the specific threat of U.S. tariffs on the metal is pulling normal trade patterns out of shape and causing both LME and Shanghai exchange inventories to fall.
Source – Reuters
Silver price remains below $30.00 due to improved market sentiment
Silver price (XAG/USD) retraces its recent gains from the previous session, trading around $29.80 per barrel during the Asian hours on Wednesday.
People’s Bank of China (PBOC) Governor Pan Gongsheng stated on Monday that “interest rate and reserve requirement ratio (RRR) tools will be utilized to maintain ample liquidity.” Gongsheng reaffirmed China’s plans to increase the fiscal deficit and emphasized that China will continue to be a driving force for the global economy.
Source – FX Street
10lbs gold nugget up for auction
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
Platinum Price
Source – KITCO
Trade policies pushing gold up
Gold prices rallied above $3,100 per ounce for the first time on Monday, on course for its biggest quarterly gain in over 38 years, as global tariffs and geopolitical tensions push investors toward safe-haven bets.
“Trump’s unpredictable trade policy has been the key driver for gold so far in 2025, with prices up by more than 16% year-to-date, extending its momentum from 2024,” ING analysts said.
“We see uncertainty over trade and tariffs, along with central bank buying and inflows into ETF holdings continuing to buoy gold prices.”
Source – Seeking Alpha
Gold up 2%, Silver up 4.1%
Gold rose more than 2% on Monday to its highest in over three weeks, as a weakening dollar and a combination of geopolitical risks and economic uncertainty fuelled investor demand for safe-haven assets.
Spot gold was up 2.7% at $3,377.29 an ounce, as of 10:19 a.m ET (1419 GMT), after hitting its highest level since May 8 earlier in the session.
“The latest tariff threats on Friday, including plans to double steel and aluminium tariffs to 50% along with Ukraine’s weekend attacks deep into Russia, have heightened geopolitical risks and are fuelling risk-off sentiment,” said Peter Grant, vice president and senior metals strategist at Zanier Metals.
“For the gold forecast, this backdrop of risk aversion and fiscal uncertainty couldn’t be more favourable.”
Spot silver rose 4.1% to $34.31 an ounce, platinum was up 0.3% at $1,059.55 and palladium rose 1.2% to $982.40.
Source – Reuters