Precious metals news

If King Copper is the bellwether for the global economy, then surging inventories suggest trouble ahead.  Not only have global copper exchange inventories surged higher in the past several weeks, they have surpassed the peak from last year.  However, the silver market continues to suffer from tightness in the wholesale market...

Precious metals investors want to know if this Tariff-driven "SilverSqueeze" will continue.  Well, according to several Professional analysts in the commodity markets, they believe the Dislocation in the silver market is worse than gold.  Why?  Central banks can lease their gold temporarily to deal with the tightness in the market, but this can't happen with silver...

If allowed, U.S. companies will be allowed to export such a large amount of LNG, which will triple the price of natural gas for Americans.  This will also drastically increase what Americans pay for Electricity.  Also, did you see the Crazy Crypto Weekend when Argentina President Milei launched its own Crypto Coin and then crashed...

As Barrick hit a new all-time high cost to produce gold in the fourth quarter, the Mali Government threatened the CEO with arrest if he entered their country.  This sounds like something right out of a NetFlix movie.  The Mali Government also suspended Barrick's Loulo-Grounkoto Mine's gold shipments...

While we hear more talk about the supposed Death of Peak Oil, the world is running straight into the Energy Cliff Chainsaw.  What does that mean?  Well, if you see what is happening in the Texas Permian shale oil field, there are serious problems the government would rather keep quiet...

With all the talk of Trump & Musk cutting government spending... are they really?  If we look at some of the Public debt data and U.S. Treasury Issuance, something just doesn't seem right.  Also, what's going on in the Gold Market in 2025, and will we see much higher prices this year...

With the gold price hitting an all-time high today, we continue to see many analysts on social media threatening an LBMA gold default.  Also, a record amount of silver was removed from the LBMA in January, but not all of it went to New York.  And there are important must-see COMEX Charts...

Federal Reserve officials Susan Collins and Raphael Bostic have signaled a cautious approach to further interest rate cuts, emphasizing the need to evaluate economic impacts of both recent monetary policy changes and new White House initiatives. Following three rate cuts totaling 100 basis points since September, the officials want to observe the effects before making additional adjustments. The Fed must also consider Trump's new tariffs, which Collins notes could cause short-term inflation across both final goods and intermediate production materials. While both officials expect rates to eventually decrease from the current 4.25-4.5% range, with Bostic suggesting a target of 3.0-3.5%, the timing remains uncertain. Some economists now project the Fed may hold rates steady throughout the year. Bostic maintains optimism about continued labor market strength and inflation's trajectory toward the Fed's 2% target, but emphasizes the need for patience given the evolving economic landscape.

Oil markets have reversed all gains made in 2025 as escalating trade tensions between the US and China threaten global economic growth and energy consumption. West Texas Intermediate crude fell below $72 per barrel following China's announcement of retaliatory measures, which include a 10% tariff on US oil imports and 15% levies on coal and LNG. While direct US oil exports to China are modest at 250,000 barrels per day, the broader implications of a trade war between the world's largest economies could significantly impact global energy demand. The market volatility comes amid already concerning signals, including declining Chinese manufacturing activity for two consecutive months.

Despite gold prices hitting 40 record highs with increases up to 30%, Chinese luxury gold products maintain strong sales while mainstream jewelry suffers. Laopu Gold exemplifies this trend with a 70% stock surge on its Hong Kong debut and projected 136% revenue growth to $1 billion in 2024, with net profits expected to rise 187% to 1.2 billion yuan.

China's central bank faces mounting pressure to relax its tight control over the yuan as Trump's trade tariffs threaten to impact exports. Analysts from ANZ Banking and Malayan Banking expect the PBOC to allow the yuan's daily fixing to weaken past 7.2 per dollar, a level carefully defended since Trump's election. The offshore yuan has already touched 7.3734, its lowest since October 2022, though it recovered after Trump indicated willingness to negotiate. Goldman Sachs projects the onshore yuan could reach 7.4-7.5, suggesting a potential 3.4% decline. While currency depreciation could help offset tariff impacts, China must balance this against risks of capital outflows and US accusations of manipulation. The situation remains fluid, as demonstrated by the peso and Canadian dollar's rebound after Trump delayed tariffs on Mexico and Canada following border control agreements. Beijing reportedly plans to pledge against competitive devaluation, highlighting the complex dynamics between trade policy, currency...

Global bullion banks are shipping gold from Asian trading hubs to the US to capitalize on unusually high Comex futures premiums driven by tariff concerns. While Asian markets face discounts of up to $15 in India and around $1 in China, US futures are commanding a $40 premium over spot prices. The trend has led to an unprecedented 80% increase in Comex gold inventories since late November, adding 13.8 million troy ounces worth over $38 billion. Banks are even moving gold from customs-free zones in India and sourcing from Dubai refineries to capitalize on this premium, as high prices have dampened Asian retail demand. The cost of transportation is negligible compared to the potential profits from the price differential.

Trump's new tariffs on China, with potential duties on Mexico and Canada, could cost typical households $1,200 annually, with lower-income Americans facing disproportionate impact. According to Peterson Institute analysis, while typical households face $1,200 in annual costs, the bottom 20% of earners would lose 2.7% of their income, more than four times the 0.6% impact on the top 1%. This disparity stems from lower-income families spending more of their income on essential goods directly affected by tariffs. The timing is particularly challenging as consumer financial health shows signs of stress, with credit card minimum payments reaching record highs at 11% of active accounts. The broader economic implications include potential inflation increases that could delay Federal Reserve rate cuts, keeping borrowing costs elevated. Additionally, retaliatory measures from China could affect manufacturing and agricultural jobs, particularly in states that supported Trump's 2024 election victory. The situation is...

China has responded to Trump's 10% blanket tariff with targeted measures affecting $20 billion in US imports, including 15% levies on coal and LNG and 10% on crude oil and select vehicles. Beijing also launched an antitrust probe into Google and imposed export controls on critical metals. The measured response suggests China's willingness to negotiate, while Trump paused similar tariffs on Mexico and Canada for 30 days of talks.

Steel prices are climbing even before the implementation of Trump's proposed 25% tariffs on Mexican and Canadian imports, with major producers like US Steel and Nucor already announcing price increases. While the tariffs' implementation is paused for negotiations, their potential impact is significant since Canada and Mexico supply 35% of US steel imports. Manufacturers are feeling the pressure, exemplified by Riverdale Mills' situation where steel represents two-thirds of production costs. The company currently sources 80% of its wire rod from Canada due to lower shipping costs compared to domestic alternatives. The tariffs would strengthen US steelmakers' pricing power but could disadvantage American manufacturers competing globally. For consumers, these changes could mean higher prices across various sectors, from appliances to aluminum-packaged beverages. US steel executives support the tariffs and advocate for eliminating exemptions, while Canada and Mexico have promised retaliatory measures, risking...

Gold held steady at $2,815 per ounce after reaching a record $2,830.49, as markets digest Trump's tariff policies and await key U.S. economic data. The immediate focus is on President Trump's tariff policies and their potential inflationary impact, with three Fed officials warning of price risks and suggesting a more measured approach to interest rate cuts. While Mexico and Canada received temporary reprieves, China's swift retaliatory tariffs have escalated tensions between the world's largest economies. The situation has created unusual market dynamics, with global bullion banks airlifting gold from Dubai and Hong Kong to the U.S. to exploit high futures premiums. Markets are also closely monitoring upcoming U.S. economic indicators, including job openings data and the payrolls report, which could influence Fed policy decisions. The combination of trade uncertainty, inflation concerns, and potential monetary policy shifts continues to support gold's traditional role as a hedge against both economic and ...

Gold remains near its record high of $2,830 per ounce as new US tariffs on Chinese goods and Beijing's retaliatory measures heighten economic uncertainty. China's counter-actions include imposing levies on US products and launching an antitrust investigation into Google. The trade conflict has disrupted precious metals markets, with US gold and silver prices surging above international benchmarks as traders rush to move metals before potential tariff implementation.

When I returned to the office this morning, I found nearly a dozen emails and Twitter messages about Art Berman's newest article... Peak Oil Requiem For A Failed Paradigm.  It seems as if Art's article has sent shockwaves through the peak oil community.  I had to reply... LOL...

JPMorgan Chase, the world's largest bullion dealer, is spearheading an unprecedented movement of gold to US markets, planning to deliver over $4 billion in bullion against February Comex futures contracts. This massive delivery, part of a total 3 million troy ounces from major banks, represents the second-largest delivery in exchange history since 1994. The unusual movement reflects growing concerns about potential import tariffs under President Trump, which has created a significant premium for US gold prices over London spot rates. The situation has triggered remarkable market dynamics, with physical gold inventories in Comex depositories swelling by 14 million ounces ($39 billion) since the US election. The price disparity has become so significant that traders are even airfreighting silver into the US, an unprecedented move given silver's typically prohibitive transport costs relative to value. While JPMorgan accounts for roughly half the planned deliveries at 1.485 million ounces, other major institu...

Oil markets responded strongly to Trump's new tariffs, with prices rising on concerns about potential supply disruptions in North America's integrated energy market. Brent crude gained 1.7% to $76.95 while U.S. WTI crude jumped 2.6% to $74.42, reaching its highest level since January. The impact is particularly significant given that Canada and Mexico together supply about a quarter of U.S. refineries' crude oil needs. While Canadian energy imports face a lower 10% tariff compared to the broader 25% levies, analysts warn of significant market disruption. Barclays notes the relatively softer stance on Canadian energy likely reflects concerns about domestic market stability, but Rystad Energy warns of inevitable gasoline price increases as refineries face higher costs for heavy crude grades. The situation could benefit OPEC+ if prolonged tariffs lead to production cuts in North America, potentially helping the producer group unwind its output restrictions. Meanwhile, U.S. gasoline futures surged 2.5% to $2....