Platinum Prices Jan 9,2025
Source – Money Metals
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Over the weekend!
‘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
US oil to China might not continue
Oil flows from the United States to China in the early months of this year have reportedly added up to roughly 1% of the country’s imports, amid growing tariffs and trade risks.
“With China imposing 84% tariffs on goods from the US, the cost of US crude would be almost double — $51 a barrel more expensive, based on $61 WTI,” Ivan Mathews, head of APAC analysis for Vortexa told Bloomberg. “This makes running US crude uneconomical for Chinese refiners.”
US crude imports to China will “likely dwindle to zero in the coming months if the current tariff levels stay,” he added.
Source – Seeking Alpha
Gold breaks $2900 per ounce
Gold has surged to a new all-time high, breaking through $2,911.72 per ounce on a thick mix of domestic and foreign uncertainty, inflation concerns, and a shifting macroeconomic landscape. While bullion has historically served as a safe-haven asset, the latest rally is not merely a reaction to market turbulence, but instead to a confluence of economic and financial factors that reinforce its role in global portfolios.
Source – Seeking Alpha / American Institute for Economic Research / Written by Peter C. Earle
China urges US to stop potential tariffs on copper
China urged the United States on Thursday to halt an investigation into potential new tariffs on copper imports to rebuild U.S. production of the critical metal, vowing to retaliate if Chinese entities got caught up in the levies.
“We urge the U.S. side to withdraw its investigation as soon as possible,” He said.
“If the U.S. insists on imposing tariffs and other restrictive measures, China will resolutely take the required steps to safeguard its legitimate rights and interests,” He said, without giving any further details.
Source – Reuters
