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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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    Futures rise after turbulent week, gold stocks surge

    ByVictoria
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    Paul Williams, managing director of Solomon Global, said about the rise in gold prices that it was a “direct response to escalating trade tensions and the growing economic uncertainty that this brings.”

    Source – Reuters

    Futures – are contracts to buy or sell a specific underlying asset at a future date. In this case we are talking about gold.

  • Gold toilet thief and accomplice convicted!

    ByVictoria
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    “This was an audacious raid which had been carefully planned and executed,” prosecutor Shan Saunders said. “But those responsible were not careful enough, leaving a trail of evidence in the form of forensics, CCTV footage and phone data.”

    The purloined potty was stolen just days after its installation. It has never been recovered but is believed to have been cut up and sold.

    Jones, 39, was convicted of burglary in Oxford Crown Court.

    The theft was planned by James Sheen, 40, who previously pleaded guilty to burglary, conspiracy and transferring criminal property.

    Doe, 36, also known as Frederick Sines, was convicted of conspiracy to transfer criminal property.

    A fourth man charged in the conspiracy, Bora Guccuk, 41, was acquitted by jurors.

    Source – CBS News

    WOW! Looks like justice was served. I will continue to follow up on jail time. Stealing a gold toilet from Winston Churchills house is bold to say the least. I wonder if the art will be made again after this. We’ll see! – V.

  • Three men on trial over stolen GOLD toilet

    ByVictoria
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    The one-of-a-kind 18-carat gold toilet was swiped in under five minutes from Blenheim Palace, the sprawling English country mansion where British wartime leader Winston Churchill was born, in the predawn hours of September 14, 2019, a prosecutor told jurors Monday.

    The toilet has never been recovered but is believed to have been cut up and sold.

    All the defendants have pleaded not guilty.

    Source – CNN

    I thought this was interesting and thought I’d share. I’m not entirely surprised that something was stolen I am surprised that the burglars got away with the darn thing! I feel like this is actually kinda funny but hopefully justice will be served. – V.

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    Ghana gold output to increase

    ByVictoria
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    Ghana’s gold production could increase by around 6.25% to approximately 5.1 million ounces in 2025, up from last year’s record output of 4.8 million ounces, the Chamber of Mines in Africa’s top gold-producing nation said on Friday.

    “We project gold output to range between 4.4 and 5.1 million ounces, buoyed by increased contributions from Newmont’s Ahafo South Mine and Shandong’s Namdini Mine,” Chamber of Mines President Michael Akafia said at an annual gathering in the capital Accra.

    “We’re looking at about 30% to 40% more production than the previous year,” the general secretary of the group, Godwin Armah, told Reuters.

    Source – Reuters

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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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    Copper is trading higher than earlier this year

    ByVictoria
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    Despite the losses of the last few days, the Copper price on the Comex is up a good 25 percent since the beginning of the year, almost on a par with tin. But on the LME, too, Copper is trading around 10 percent higher than at the beginning of the year, Commerzbank’s commodity analyst Barbara Lambrecht notes.

    Source – FX Street