Gold and silver have both stormed higher this August, driven by a softening dollar, mounting US government debt and fading expectations of a further Federal Reserve rate hike, as investors return to safe havens. Precious metals have become one of the standout trades of the month, clawing back losses suffered earlier in the year, silver even more sharply than gold. …
Continue ReadingState-backed funding is driving American efforts to build domestic supply, but industry trends and price gaps are still seen as hurdles to reducing reliance on China. Patriot Critical Minerals of the US plans to dig into a long-abandoned mining site in the sparsely populated state of Nevada to extract tungsten, an important raw material with industrial uses ranging from aerospace …
Continue ReadingTrafigura Group and several other traders delivered more than 20,000 tons of copper into LME warehouses on Tuesday, the biggest one-day build in on-warrant stock since April, and the squeeze that had gripped the London market for the past week came apart. The cash-to-three-month spread settled at a $248-a-ton backwardation, down from as much as $545 on Monday, which was …
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