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Switzerland gold imports at highest

ByVictoria
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Gold imports to Switzerland from the United States jumped to the highest monthly level since at least 2012 in April after the exclusion of precious metals from U.S. import tariffs, Swiss customs data showed on Tuesday.

The Swiss data showed that gold imports from the U.S. rose to 63.0 metric tons in April from 25.5 tons in March. It was the highest in monthly data going back to early 2012.

Switzerland’s total gold exports fell by 31% month on month in April with gold deliveries to the U.S. dropping to 12.7 tons from 103.3 tons in March.

Source – Reuters

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Copper at record high $11,633 a ton

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Unusually large shipments of copper to the United States are unlikely to abate as long as the threat of tariffs hangs over the market and price premiums for the metal on U.S.-based COMEX make deals profitable for traders and producers, analysts said.

COMEX copper hit a record high at $11,633 a metric ton on March 26, creating a premium of more than $1,570 a ton against the benchmark contract on the London Metal Exchange.

“We expect 250,000-300,000 tons of extra copper will be shipped to the U.S. over March-May because of the spread and amid the uncertainties regarding the tariff,” said Sharon Ding, head of China basic materials at UBS Investment Research.

“It’s possible we’ll see more atypical cargos in the second half of May,” Kpler analyst Ben Ayre said. “While the COMEX price continues to run at a premium to the LME there’s a strong incentive to land refined copper in the United States.”

Source – Reuters

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Fed’s Hawkish Stance Pressures Gold Prices

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Gold prices dipped on Monday as thin holiday trading kept momentum in check. After last week’s sharp decline, gold is attempting to recover but faces resistance between $2607.25 and $2607.35. A breakout above $2629.13 is possible, but traders will need stronger volumes to drive further gains—something unlikely until after the New Year.

Treasury yields edged slightly higher to start the week, with the 10-year yield rising to 4.536% and the 2-year yield ticking up to 4.325%. Yields jumped last week following the Fed’s policy update but eased on Friday after softer-than-expected inflation data. The dollar held steady as markets processed the Fed’s outlook for 2025.

Source – James Hyerczyk / FXEMPIRE

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Vizsla Silver Gets a Buy from CIBC, shares open

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In a report released today, Cosmos Chiu from CIBC maintained a Buy rating on Vizsla Silver (VZLA – Research Report), with a price target of C$5.00. The company’s shares opened today at $2.28.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vizsla Silver with a $3.26 average price target.

Source – Markets Insider

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Gold rises with new record

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“We could envision a situation where inflation migrates higher, while the economy slows down as the auto sector grinds to a sudden halt, for example,” said Bart Melek, global head of commodity strategy at TD Securities.  “Higher inflation and low rates, and the associated angst with the president’s imposition of tariffs, so uncertainty and risk are helping gold.” 

“These tariffs create a strong tailwind for gold,” Bank of Montreal analysts wrote in a note. “Not only because of their inherent inflationary effects but also as the USA’s increasingly hawkish foreign policy may accelerate de-dollarisation plans.”

Source – Bloomberg

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Kaiser Reef to acquire Henty gold mine

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Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m.

Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company.

Following the acquisition, Kaiser’s enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants.

“Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.”

Source – Yahoo! Finance

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Asia Gold: Elevated prices deter buyers in key hubs

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In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.

“Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.

Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.

Source – Reuters

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