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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 dips, Silver up .1%

    ByVictoria
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    Gold prices dipped for a second straight session on Monday as U.S.-China trade tensions eased, and the market awaited data due this week.

    Spot gold was down 0.6% at $3,297.10 an ounce as of 09:27 a.m. ET (1327 GMT). U.S. gold futures rose 0.3% to $3,307.80.

    “The broader gold forecast and price direction remains constructive, even with some of its haven appeal diminishing,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.

    “Until we witness clear patterns of lower highs, lower lows, and firm trade agreements rather than more political bluster from the Trump administration, the prospect of fresh highs for gold cannot be dismissed.”

    Spot silver eased 0.1% to $33.04, platinum gained 1.8% to $988.90 and palladium added 0.8% to $956.35.

    Source – Reuters

  • Copper prices edge up in thin trade after past week’s tumble

    ByVictoria
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    Three-month copper on the London Metal Exchange (LME) rose 0.1% to $8,949.5 a metric ton in official open-outcry trading.

    Adding further pressure, the International Copper Study Group said on Friday that the global refined copper market was in a 287,000 metric ton surplus for the first 10 months of 2024.

    With a mean reversion strategy in play, copper is likely to strengthen back above the crucial $9,000 mark, Sucden Financial analysts said.

    Source – ZAWYA

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    Tariff threat opens up transatlantic rift in copper pricing

    ByVictoria
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    U.S. President Donald Trump hasn’t yet imposed import tariffs on copper but the market is already pricing in the likelihood that the red metal will be next on the list after aluminium and steel.

    The arbitrage between the CME and the London Metal Exchange (LME) contracts has blown wider in recent days, with the CME premium exceeding $1,000 per metric ton earlier this week.

    Source – Reuters / Written by Andy Home / Opinion

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    KY gold and silver tax bill gets governor sued

    ByVictoria
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    In a complaint filed in Boone Circuit Court on March 27, the same day the legislation was delivered to the secretary of state’s office, an online bullion exchange and three Northern Kentucky residents said they and others are owed refunds on taxes improperly collected for their precious metals in the past eight months, naming Gov. Andy Beshear and several state offices as defendants.

    The state representative, a frequent foil to Beshear who told colleagues in the House he sponsored the bill to ensure Kentuckians do not “pay taxes that were never lawful in the first place.”

    HB 2 ensures the sale, use, storage or other consumption of “bullion currency” — gold, silver, platinum and other precious metals — cannot be taxed, overriding a line-item veto by Beshear that was included in a separate bill passed in 2024.

    HB 2, which was filed in January and approved on party-line votes in the House and Senate, allows anyone who paid taxes on gold and silver after that Aug. 1 deadline to seek a refund in court.

    Source – Courier Journal

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    March 31 is “Buy Silver” Day for investors

    ByVictoria
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    March 31 has become a flashpoint for silver buyers hoping to shake up the market—and possibly squeeze out the short sellers.

    If only the physical market demand for silver could overcome the paper market short sellers, the spot price of silver would almost certainly take off much higher.  Toward that end, there is a developing strategy for investors around the world to purchase physical silver on March 31.  This day is the focus because it is the final trading day of the calendar quarter, when financial firms need to report their financial results. 

    Source – Numismatic News

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    Presidential dollars and First Spouse gold coins legislation extension

    ByVictoria
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    A flurry of legislative activity in both chambers of Congress in February includes more than a half dozen bills, one of which seeks an extension of production of Presidential dollars and First Spouse gold coins.

    S. 633, introduced Feb. 19 by Sen. Catherine Cortez Masto, D-Nevada, seeks to extend the Presidential dollar and First Spouse gold coin series to include deceased presidents and their spouses not yet honored.

    Jimmy Carter Presidential dollars would be authorized to be struck with a circulation finish in bags and rolls offered for sale from the Denver and Philadelphia Mints, and Uncirculated finish versions from both production facilities and Proof coins from the San Francisco Mint.

    For the First Spouse gold coins, Proof and Uncirculated versions would be produced as numismatic products at the West Point Mint bearing the facility’s W Mint mark.

    Source – Coin World