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Tariff deadline might extend for China

ByVictoria

Gold futures reversed early losses to reach new all-time highs Tuesday, gaining for a third straight session on weaker U.S. bond yields and persistent trade and monetary policy uncertainty as investors continue to anxiously await President Trump’s August 1 tariff deadline.

The yield on benchmark U.S. 10-year notes fell near two-week low, making non-yielding bullion more attractive.

U.S. Treasury Secretary Scott Bessent said he plans to meet his Chinese counterpart next week, suggesting a possible extension of an August 12 tariff deadline, but European Union diplomats hinted that the E.U. is looking at broader counter-measures against the U.S. as prospects for a trade agreement dwindle.

“Trade uncertainty is prompting some safe haven demand,” Kitco Metals senior analyst Jim Wyckoff wrote. “The U.S. has got several trade deals in the works and there’s rumors that the E.U. and the U.S. might not be able to come to an agreement or certainly are not anywhere close yet.”

Source – Seeking Alpha

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    Reserve Bank of India becomes more strict on gold loans

    ByVictoria
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    India’s central bank plans to ask lenders to follow stricter underwriting processes for gold loans and monitor the end-use of funds as it tries to cool growth in the fast-growing segment, seven people, including industry sources and those aware of the regulator’s thinking, said.

    “The RBI wants to ensure that the entities are following a standard protocol and any growth in the gold loan sector is not out of bounds,” one of the sources aware of the central bank’s thinking, said.

    Source – Reuters

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    Platinum, palladium likely to lag gold and silver again – UBS

    ByVictoria
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    Prospects for platinum group metals in 2025 look similar to previous years, UBS says, adding that it expects platinum to outperform palladium , and both to lag gold and silver once again.

    The investment bank, meanwhile, has a forecast of a 25% return for silver, with prices trading in a $36-38/oz range.

    “Hence, we hold a more nuanced outlook for the overall precious metal sector, with a more attractive risk-reward in gold/silver versus platinum/palladium. Within the platinum group of metals, platinum remains favored over palladium, considering the higher volatility and lower liquidity of the latter,” analysts added.

    Source – Seeking Alpha

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    Gold continues to climb, tariffs increase demand

    ByVictoria
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    Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.

    Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).

    “We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.

    Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.

    Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.

    Source – Reuters

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    Sterling Metals Maiden Exploration Program Delivers Multiple New Drill-Ready Copper Targets Following Successful 3D IP Survey at Copper Road

    ByVictoria
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    This survey covered an expansive 5km by 3km area in the center of the Project, successfully pinpointing multiple high-priority, drill-ready targets. These findings are significant, highlighting both the potential of the near surface target zones as well as the Project’s capacity to host a large-scale copper porphyry mineral system at depth

    Jeremy Niemi, SVP Exploration and Evaluation, commented, “We are very happy with how our maiden exploration season has advanced at the Copper Road Project. We took a very purposeful approach to develop geologically rich evidence for a large-scale copper porphyry mineral system and to identify targets that have the potential to host significant volumes of copper and molybdenum. In just eight months, we have achieved this and set the stage for drilling very exciting targets.”

    The primary objective of the survey was to identify sizeable chargeable anomalies within the priority area of the Project.

    Source – ACCESSWIRE / Yahoo Finance

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    Silver price strengthens dollar

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    Silver price (XAG/USD) hits a fresh weekly high to near $33.20 during North American trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) extends its downside on the United States (US) credit rating erosion in the wake of large debt levels and escalated fiscal imbalances.

    Technically, a soft US Dollar makes the Silver price a value bet for investors. Additionally, concerns over US credit erosion improve the safe-haven demand of non-yielding assets, such as Silver.

    Source – FX Street

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    Copper in a slump

    ByVictoria
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    London Metal Exchange (LME) three-month copper slumped to a 17-month low of $8,105 per metric ton on April 7 after China responded to U.S. tariffs in kind.

    Citi, which now expects copper to hit $8,000 per ton over the next three months, warns that commodity markets are still not pricing the full potential impact on demand.

    Copper as a macro play cannot but reflect the broader market concerns about the negative impact of an escalating trade war between the United States and China on the world economy.

    But at a micro level, the specific threat of U.S. tariffs on the metal is pulling normal trade patterns out of shape and causing both LME and Shanghai exchange inventories to fall.

    Source – Reuters