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Copper, Aluminum Prices Plunge Again as Tariffs Spark Worry Over Global Growth Slowdown
Shares of Companies Within the Broader Materials Sector Are Trading Lower as Markets React to President Trump's Announcement of Sweeping Tariffs.
Silver and New York gold experienced a major shock as Trump's tariff exemptions concluded 80 billion dollars "Precious Metals migration."
In the past few months, due to concerns among traders about how Precious Metals would be affected by tariffs, New York futures Gold experienced a significant premium over benchmark prices, stimulating large-scale arbitrage trading. As Gold, Silver, Platinum, and Palladium were exempt from tariffs, the arbitrage trading reversed, leading to a rapid and significant narrowing of the price difference between New York futures Gold and spot Gold, while the Silver market experienced a sharp decline in the "physical delivery price difference."
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At the time of new highs in Copper prices, USA mining giants are betting on new technologies in an attempt to extract "gold" from old mining areas.
As copper prices soar, USA mining giants are betting on a technology aimed at extracting low-grade copper from waste piles to meet the growing Global demand.