Silver prices surged to $33 per ounce on Friday, hitting their highest since late October at $33.41, fueled by factors driving gold to record highs.
London Bullion Market Association data revealed an 8.6% drop in silver inventories to 23,528 tons in January, the largest monthly decline since 2016.
Despite bullish trends, analysts caution against silver’s volatility, noting its price movements often exceed gold’s by 2-2.5 times.
Source – Econo Times
Benchmark copper on the London Metal Exchange (LME) was up 0.4% at $9,418 a metric ton by 1000 GMT, having hit a peak of $9,481.50 in the previous session for its highest since April 3.
“It’s almost impossible to see what is happening from one day to the next. No doubt the tariff optimism that triggered the risk-on rally early in the week has faded again,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
U.S. Comex copper futures gained 0.5% to $4.87 a lb, bringing the premium over LME copper to $1,314 a ton.
Source – Business Recorder
Shares of Barrick Gold Corp.
ABX-3.10% rose 2.32% to C$26.47 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index
Source – Market Watch
This year’s returns on silver, at 26.8%, have inched slightly above gold, according to the prices of two popular exchange-traded funds, the iShares Silver Trust and SPDR Gold Shares as of Monday’s trading.
It is the first time the iShares silver ETF has outperformed gold’s year-to-date gains in 48 trading days. As recently as May, the gold fund’s 2025 returns were nearly double that of silver. Much of the catch-up has taken place in June as the silver ETF gained 11% while the gold fund gained 1%.
Source – Barron’s
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE)
, opens new tab held steady at 24,793.53 points, mirroring the sentiment on Wall Street.
However, high silver and gold prices helped limit losses for Canadian stocks.
“A lot of gains were experienced yesterday and today you are probably going to see muted markets,” Allan Small, senior investment adviser at Allan Small Financial Group with iA Private Wealth, said on Thursday.
The Bank of Canada is expected to cut interest rates by 25 basis points to 3.00% when it meets later this month, according to a Reuters poll of economists.
Source – Reuters
The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028
“Our stated goal is to become a green, high-tech, leading global company,”
“By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining
“We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.
Source – Kitco NEWS
ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.
Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.
The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.
The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.
BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.
Source – The Wall Street Journal
