Worldwide currencies up and down

ByVictoria

The safe-haven Japanese yen strengthened on Monday while gold pushed to a fresh peak as traders worried that U.S. President Donald Trump’s tariffs would ignite inflation and crimp economic growth.

The yen was up as much as 0.74% at 148.735 per U.S. dollar at one point on Monday, and was last 0.46% stronger at 149.145. 

The Swiss franc, another traditional safe haven, started the day by rising 0.3% to 0.8775 per dollar.

The Canadian dollar was flat at C$1.4321 per greenback.

Mexico’s peso slipped 0.45% to 20.4364 per dollar.

Cryptocurrency bitcoin lost 1% to $81,703.

Source – Reuters

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    Base metal prices plunged early Friday, with three-month benchmark copper on the London Metal Exchange recently -3.7% at $8,985.50/metric ton and three-month aluminum  -1.4% at $2,422.50/ton, as President Trump’s worse than expected tariffs trigger global growth slowdown fears, sparking a selloff in industrial metals and mining equities.

    Copper and aluminum have dropped 8.7% and 7.7%, respectively, so far this week, as the tariffs drag down demand forecasts

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    Pataz has become Peru’s largest gold-producing region, in no small part due to artisan or informal mines, which operate under temporary REINFO permits.

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    Panama has approved First Quantum Minerals’ maintenance plan for its closed copper mine in the country, but not a re-start of the site, a top trade official said on Friday

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    Gold-Silver Ratio exceeds 90:1

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    Gold has reached new all-time highs, and the gold-to-silver ratio now exceeds 90:1. Such a high ratio has often signaled an impending breakout for silver prices. It indicates that silver could be undervalued, and we may be on the verge of a major price surge. Sometimes, if you miss a price run-up for gold, you can make up for it by buying silver instead as it catches up to its yellow cousin.

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    Spot gold was 1.3% down at $2,840.25 an ounce by 10:42 a.m. ET (1542 GMT). Bullion has so far lost 3.2% for the week, its steepest weekly fall since November.

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