Articles for tag: Gold, price, soars, tariff, threats

February 24, 2025

Ron Finklestien

mining

Gold Prices Surge Over $2,900 Amid Escalating Tariff Tensions

Gold Surges Past $2,900 as Tariff Fears Fuel Safe-Haven Demand Gold Hits New Heights Amid Trade Tensions Gold continued its impressive rally on Monday, breaking through the significant $2,900 barrier for the first time. This surge occurred following U.S. President Donald Trump’s recent threats to impose tariffs, which led to increased demand for safe-haven assets. As of 12:15 ET, spot gold reached $2,902.16 per ounce, marking a 1.4% increase during the session. Earlier, it peaked at a record-setting $2,911.18 per ounce. In New York, U.S. gold futures mirrored this rise, also climbing 1.4% to $2,929.60 per ounce. This sharp increase

January 10, 2025

Ron Finklestien

mining

“Analysis: Declining Prices of Lithium, Nickel, and Cobalt Signifies Challenges for EV Battery Metals Market”

Global Electric Vehicle Battery Capacity Reaches New Heights Amid Market Shifts From January to October, the world saw a total of 674.6 GWh of new battery power, according to Toronto’s Adamas Intelligence, a firm specializing in EV supply chain research. Increasing Popularity of Hybrid Vehicles The surge in electric vehicle (EV) adoption coincides with a growing preference for hybrid vehicles, which typically contain smaller batteries. This trend reflects a noticeable shift in consumer choice. This year, plug-in hybrid vehicles (PHEVs) have seen a staggering 71% increase in battery capacity compared to a modest 17% growth for fully electric cars. The

December 14, 2024

Ron Finklestien

mining

Forecasting Copper Prices: Trends and Predictions for 2025

Copper Prices: The Rollercoaster Ride of 2023 and Expectations for 2025 In May, Comex copper reached an unprecedented intraday high of nearly $5.20 per pound, or $11,500 per tonne. This surge resulted in net trading volumes soaring to $100 billion in a single day, twice the daily average for the Dow. However, cooler heads in London recognized that this price spike was primarily a U.S.-based event. Cargoes intended for Rotterdam and Shanghai were swiftly redirected, while LME futures have yet to reach $11,000 per tonne. Copper: The Next Big Thing A French hedge fund manager, known for being consistently confident,

November 6, 2024

Ron Finklestien

mining

Copper Prices Plunge to Lowest Since May Amid Trump’s Victory Strengthening the Dollar

Market Turmoil: Copper Prices Plummet Amid Trade Concerns Copper declined by as much as 4.3% during a widespread selloff on the London Metal Exchange, reflecting sharp losses in the Chinese yuan. The metal also dropped 4.6%, settling at $9,389 a tonne during early morning trading on the Comex in New York. [Click here for an interactive chart of copper prices] In addition to the immediate effects of a weaker currency in the world’s largest commodities market, traders are on alert for a potential drop in demand if Trump acts on his threats to escalate the US-China trade war. “This situation

May 23, 2024

Ron Finklestien

mining

Gold price drops to week low on hawkish Fed, US data

The decline comes days after the spot price hit a record high of $2,449.89 on optimism over the Federal Reserve’s monetary policy. Making bullion less attractive, US business activity accelerated to its highest level in over two years in May, suggesting an uptick in economic growth during the second quarter. Still, the metal has gained 14% so far this year on anticipation of a Fed rate cut coupled with rising geopolitical tensions around the globe. Advancing dollar and a weakening US rate cut outlook have catalyzed a round of profit-taking in gold, but the downside will be limited, said Daniel Ghali, commodity

May 20, 2024

Ron Finklestien

mining

Gold price hits $2,450 on rate cut optimism, geopolitical risks

US gold futures saw a similar rise of 0.5% at $2,429.60 per ounce, having hit $2,454.20 earlier in the day. The metal eased off its high on profit-taking but the outlook remains positive and “new records could be on the way,” explained Fawad Razaqzada, market analyst at City Index, in a Bloomberg note. Traders have been boosting bets in recent sessions that the Fed may reduce borrowing costs as early as September, a scenario that would bolster gold since it doesn’t pay interest. A weaker dollar has provided the precious metal with additional support. Recent economic data releases indicated that

April 21, 2024

Ron Finklestien

mining

Spectacular copper price rally only gaining momentum

The spectacular upward move over the last couple of weeks comes as so-called managed money build long positions – bets on higher prices in future – to the equivalent of more than 2 million tonnes on the London Metal Exchange, a new record. Likewise, long positions on Chicago’s CME copper futures contracts are at levels last seen in January 2018. BMO Capital Markets in a Friday research note on CESCO Copper Week in Santiago summed up the mood at the conference as “Buoyant but not bullish”. There was widespread agreement at the conference that, while most market participants were happy

April 20, 2024

Ron Finklestien

mining

The Golden Surge: Goldman Sachs Predicts $2,700 Gold Price as Uncertainty Reigns

Volatility in Precious Metal Market Gold ended the day with little change, reacting to Fed chair Powell’s cautious stance on rate cuts, causing both Treasury yields and the dollar to surge. The metal, traditionally tied to monetary policy shifts, remains on an upward trajectory despite a challenging landscape. Unprecedented Growth and Surprising Trends With a 16% increase thus far in the year and a rise of over $500 since early October, the current market turmoil has been a catalyst for the precious metal’s exponential growth. The Middle East conflict acted as the tipping point, ushering in a new era of

March 29, 2024

Ron Finklestien

mining

The Rise of Copper: A Bullish Forecast Sparks $10,000 Predictions

Concentrating minds on the copper market A decade low in spot treatment charges and refining costs has jolted the copper market into a frenzy, with evidence of heightened competition between Chinese and Indian refiners for raw materials. The remarkable plunge from 2023’s high treatment and refining charges to current levels has sent shockwaves throughout the industry, signaling a pivotal shift in dynamics that could reshape the global copper landscape. As China and India vie for dominance in the copper sector, the unveiling of Adani’s monumental Kutch Copper smelter adds yet another layer of complexity to the unfolding narrative. The looming

March 21, 2024

Ron Finklestien

mining

The Golden Surge: Gold Price Surpasses $2,200 Mark for the First Time

Gold’s Unprecedented Rally Gold, the age-old harbinger of uncertainty, has once again set tongues wagging in the financial world. The precious metal, which embarked on its latest rally mid-February, has shattered records with a seemingly unstoppable climb. Fuelled by enduring tailwinds such as heightened geopolitical tensions and increased central bank purchases, gold has clinched new highs five times this month alone. Driving Forces Behind the Bullion The gold market has left seasoned experts scratching their heads with its meteoric rise, lacking a clear-cut catalyst. Despite the absence of a definitive trigger, expectations of a more accommodative monetary policy in the