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Poland copper mining tax to end in 2026

ByVictoria

Poland’s copper mining tax will fall from next year under a new system that will provide deductions related to investment spending, Polish finance minister Andrzej Domanski said on Friday.

The tax on mineral extraction, including copper, was introduced in 2012. Poland’s biggest copper miner KGHM paid 3.87 billion zlotys in tax in 2024, according to its annual report.

“By taking care of investments in Poland, by taking care of the development of KGHM, we also take care of the collective security of the West and the European Union.”

Source – Reuters

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    Spot gold was at $3,026.85 an ounce at 1131 GMT. U.S. gold futures edged 0.4% higher to $3,032.40.

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    Spot silver firmed 0.4% to $33.16 an ounce, platinum steadied at $975.55, and palladium was flat at $957.95

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    Gold prices with latest tariff concerns

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    Gold prices experienced a modest uptick on Monday, rising 0.1 percent to $3,040.57 per ounce. Spot gold rose 0.1 percent to $3,040.57 an ounce as of 7:39 a.m. ET, rebounding after dipping to a session low of $2,971.09 earlier, when some investors sold off bullion to offset losses elsewhere, Reutersreported.

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    Gold, Silver, Platinum Forecasts

    ByVictoria
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    Gold

    Gold made an attempt to settle below the support at $2870 – $2880 but lost momentum and climbed back above the $2900 level.

    Silver

    Silver rallied above the $32.00 level as gold/silver ratio pulled back below the psychologically important 90 level.

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    Platinum is trying to settle above the resistance at $1025 – $1030 as demand for precious metals stays strong.

    Source – FXEMPIRE

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    Copper price forecast

    ByVictoria
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    The EV industry in China and the world is already booming; pumping copper’s status as “the new oil”. As such, the red metal is set to rise above the current uncertainties to record significant gains in the medium to long term.

    Copper has also jumped above the 50-day moving average, while the Relative Strength Index (RSI) has continued rising. Therefore, it will likely rebound and retest the key support at $5 in the coming weeks.

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    More Info!

    RSI (Relative Strength Index) – is a technical indicator intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.