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President Trump said he will impose tariffs on aluminum and copper

ByVictoria

“We have to bring production back to our country,” he said.

“In the US, manufacturers will have little choice but to pass on higher costs from imports to consumers until the downstream industry (refining/smelting) has undergone suitable investment,” said Natalie Scott-Gray, senior metals analyst at StoneX.

“If Trump imposes tariffs, it will have an adverse impact particularly on aluminum because Europe is already on path to impose a carbon tax and the UK might do it too,” said B.K. Bhatia, additional secretary general at the Federation of Indian Mineral Industries.

Source – Mining.com

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    Gold and Silver up by 1%

    ByVictoria
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    Gold prices rose more than 1% on Tuesday as a weaker dollar and uncertainty over U.S. tariffs, along with concerns about the country’s fiscal outlook, drove investors towards safe-haven assets.

    Spot gold climbed 1.4% to $3,349.32 an ounce by 1203 GMT while U.S. gold futures jumped 1.6% to $3,361.70.

    Spot silver firmed 0.9% to $36.41 an ounce, platinum was down 0.1% at $1,351.80 and palladium gained 2.5% to $1,124.79.

    Source – Reuters

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    Freeport-McMoRan shares up 1.6%

    ByVictoria
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    Miner Freeport-McMoRan (FCX.N), beat Wall Street estimates for second-quarter profit on Wednesday, as higher copper and gold prices helped offset lower production.

    The company’s shares rose 1.6% to $40.54 in pre-market trade.

    Freeport could be a big beneficiary, seeing as much as $1.6-billion boost to annual profit, given its position as the largest U.S. producer with more expansion options than rivals.

    Freeport, which supplies about 70% of U.S. refined copper, said it expects to sell 1.3 billion pounds from its domestic mines in 2025.

    Source – Reuters

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    Copper edges higher, tariff worries investors

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    “The market is really trying to understand how aggressive these potential tariffs could be and I think the problem is no one really knows the answer,” said Nitesh Shah, commodity strategist at WisdomTree.

    Alastair Munro, senior base metals analyst at Marex, said copper found some support from contrarian buying from some Commodity Trade Advisor (CTA) investment funds, which are largely driven by computer programs.

    Source – Reuters / Live Mint

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    Sir Paul McCartney gold and silver coins put up for auction

    ByVictoria
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    One gold and four silver pieces are being made available for collectors, the Royal Mint said, and they will be presented through auction via Stack’s Bowers Galleries.

    “Each coin available at auction is a testament to the exceptional skills of our craftspeople at the Royal Mint.

    “Taking hundreds of hours to produce, the masterworks crafted from gold and silver feature highlights from Paul’s career and his journey to becoming one of Britain’s most successful artists in history.

    “The impressive five-kilogram gold coin has also been hand signed by Paul during his Got Back tour at the end of last year – a symbol of his personal seal of approval of this iconic one-of-one piece.”

    People can bid for the coins online up until March 19, when the auction ends, with bidding starting at one US dollar.

    Source – The Irish News