Outlook for gold and copper prices

The fact that copper is a very important metal for the energy transition and therefore for the future should actually also speak in favor of higher copper prices. At present, this is likely to be offset by a copper surplus. According to the International Copper Study Group, there was a surplus of 168,000 tons of copper from January to November 2024. Fluctuations in the copper price are currently also being fueled by the counter-tariff scenario. The threat of a trade war would have a negative impact on the price of the reddish metal. This is because demand for many goods would fall.

If goods are subject to tariffs, inflation will rise for the US population. Tariffs and special duties were already on the agenda during US President Trump’s first term in office. Copper was not affected at the time. If the US tariff policy towards China turns out to be less harmful than expected, this would be good for the copper price. And the fact that copper is needed for the climate transition, for power grids, wind and solar energy and for electromobility, should in turn have a positive impact on the copper price. Mining companies that own gold and copper in the ground include U.S. GoldMining and Aurania Resources.

U.S. GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ – has the promising Whistler project in Alaska. The latest drilling results were again encouraging.

Aurania Resources – https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ – focuses on precious metals and copper in South America. The main project is The Lost Cities-Cutucu project in the Andes.

Current corporate information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -) and U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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