Frik Els – Page 6 – Junior Mining News

Gold price leaps to $1,750

Gold vaults by $70 an ounce to 7-and-a-half year high as US central bank floods financial system with cheap money.

Copper price jumps 4% as China manufacturing rebounds but analysts warn market is far from returning to normal levels.

So far this year Chinese import prices have averaged more than $90 a tonne.

Gold is now the “currency of last resort”.

Gold is now the “currency of last resort”.

US Fed promised to pump “unlimited” amounts of money into the financial system, boosting the metal’s status as a store of wealth and inflation hedge.

New report shows of all commodities, the 90th percentile of the cost curve has worked as a support level best in copper.

Copper dropped overnight to below $2 a pound – levels last seen in 2009 – only to rally 11.6% in New York trade Thursday.

Copper price plunge accelerates – down 8.8% Wednesday to 3-and-half-year low – as producers announce production and construction halts.

After steep losses “gold is starting to act like how it should act” amid massive monetary and fiscal stimulus in response to the pandemic.