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SPDR Gold Shares was rallying a sharp 1.6%

ByVictoria

“Gold bars are bought as a hedge” against tariff-related downside risks to stocks as well as U.S. and global economic growth, commodity analysts at Citigroup said in a research note on Friday after the U.S. stock market’s close. “In precious metals, we see gold moving higher very near term” to $3,000 per ounce, they wrote.

“Gold has soared to another record high today amid a further ratcheting up in trade tensions,”  said Joe Maher, assistant economist at Capital Economics, in a note Monday. “Concerns that gold may get caught in the trade-war crossfire may also have led U.S. investors to buy up gold in order to get ahead of any future tariffs that might affect U.S. gold imports.”

Source – Market Watch

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    Mining firm Freeport-McMoRan jumps 4%

    ByVictoria
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    “American industries depend on copper, and it should be made in America, no exemptions, no exceptions,” Commerce Secretary Howard Lutnick said. “It’s time for copper to come home.”

    But while the tariffs could be positive for the domestic metals sector, implemented copper tariffs could amplify costs across several segments of the economy. Copper has a broad range of uses, and its cost is an input in the price of everything from electronics to construction materials.

    Trump’s tariff probe sparked a surge in copper futures, which rose 1.76% Wednesday morning.

    Source – Markets Insider

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    Silver Price Forecast

    ByVictoria
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    Silver price (XAG/USD) continues its upward momentum for the third consecutive session, hovering around $33.30 per troy ounce during Asian trading hours on Thursday. 

    Demand for dollar-denominated Silver could rise as the US Dollar (USD) remains under pressure due to cooling inflation. A weaker Greenback makes commodities more affordable for foreign buyers

    Source – FXSTREET

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    Switerlands gold exports reach highest since 2022

    ByVictoria
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    Over the last two months, 12.9 million troy ounces (401 metric tons) of gold were delivered to COMEX-approved warehouses, raising stocks there by 73.5% to 30.4 million ounces, the highest since July 2022.

    According to the Swiss data, gold deliveries from the country to the U.S. rose to 64.2 tons in December from 3.3 tons in the last month of 2023. In March 2022, when global markets were grappling with immediate consequences of Russia’s invasion of Ukraine, Switzerland exported 81.5 tons of gold to the U.S.

    Source – US News / Reuters

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    China urges US to stop potential tariffs on copper

    ByVictoria
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    China urged the United States on Thursday to halt an investigation into potential new tariffs on copper imports to rebuild U.S. production of the critical metal, vowing to retaliate if Chinese entities got caught up in the levies.

    “We urge the U.S. side to withdraw its investigation as soon as possible,” He said.

    “If the U.S. insists on imposing tariffs and other restrictive measures, China will resolutely take the required steps to safeguard its legitimate rights and interests,” He said, without giving any further details.

    Source – Reuters

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    Gold rally similar to 45 years ago

    ByVictoria
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    With tensions running high between historic allies over U.S. tariffs, global trade, and wars in Ukraine and the Middle East, big powers look unlikely to pull together swiftly this time to resolve the issues driving interest in bullion as a haven from risk, analysts say.

    The metal’s surge above $3,000 an ounce, driven most recently by U.S. President Donald Trump’s new round of tariffs on trading partners, has been the first time in a long time that geopolitics and economic uncertainty have served as the top factors moving the gold market, HSBC analyst James Steel said.

    While the market has this year conquered a series of milestones, one more remains. StoneX analyst Rhona O’Connell noted that gold peaked at $850 in January of 1980, which in dollar terms would equate to $3,486 today.

    Source – Reuters