Copper Surpasses $12,000 per Ton... Record High on Tariff and Supply Shortage Concerns

The price of copper has reached an all-time high. A combination of tariffs imposed by the Trump administration and concerns over supply shortages pushed copper past the psychological resistance level of $12,000 per ton (approximately 17.79 million won). According to the Financial Times (FT) on the 23rd (local time), copper prices on the London Metal Exchange (LME) recorded $12,160 per ton. Since October, copper prices have repeatedly set new record highs. The recent surge in copper prices is largely due to the impact of tariffs. The possibility that U.S. President Donald Trump will impose additional import tariffs on copper next year has fueled the price increase. As a result, there has been a rush to secure copper before the tariffs are implemented, which has driven prices even higher. Concerns over supply shortages are also negatively affecting copper prices. The production volume of Codelco, Chile's state-owned mining company and the world's largest copper producer, has dropped to i

Global·Raw Materials

12.24 09:27

"Should I Buy at Least One?"... Gold, Silver, and Platinum Hit Consecutive All-Time Highs

The prices of precious metals such as gold, silver, and platinum have been soaring day by day, reaching all-time highs. On December 23 (local time) at the New York Mercantile Exchange, gold futures for February delivery closed at $4,505.70 per ounce, up 0.8% from the previous trading day. During the session, the spot price of gold at one point hit a record high of $4,497.55 per ounce before ending up 1.1% at $4,492.99 per ounce. Reuters reported that gold prices have surged by about 70% this year, driven by geopolitical tensions, interest rate cuts in the United States, central bank purchases, and robust investment demand. SP Angel analysts stated, "The long-term trend of central banks diversifying their foreign exchange reserves is expected to remain a strong upward driver for gold prices through the late 2020s," adding, "We anticipate gold could reach $5,000 per ounce next year." On this day, silver surpassed the $70 mark for the first time. As of 3:12 p.m. Eastern Time, the spot pri

Global·Raw Materials

12.24 09:26

iM: "Silver Super Rally... Indicates Healthy Liquidity and Economic Conditions"

iM Securities recently stated that silver prices are experiencing a super rally, hitting all-time highs, which indicates that liquidity concerns have eased and the overall economy is performing reasonably well. On December 1, Park Sanghyun, a researcher at iM Securities, explained in the report "Economic and Financial Markets Unpacked Through the Silver Super Rally," that "during November, silver prices rose by 16% compared to the previous month." As of the closing price on November 28, the price of silver reached $56.5 per ounce, once again setting a new all-time high. First, Park highlighted three price indicators in the US financial market that he had previously emphasized as noteworthy: Bitcoin, big tech credit default swaps (CDS), and the US dollar. He pointed out that these indicators have recently started to stabilize. He explained, "Although the short-term money market stress that triggered the simultaneous decline in major asset prices?the so-called 'everything falling'?has no

Global·Raw Materials

12.01 07:36

Sangsangin: "Gold Becoming a Speculative Asset? No Need to Worry... Bullish Outlook Maintained"

On November 27, Sangsangin Securities dismissed market concerns that gold, traditionally considered a safe-haven asset, is losing its status and becoming more speculative and risky, as its price has recently moved in tandem with the stock market, including the S&P 500. The firm also maintained its existing outlook that gold prices will continue to rise through the end of next year. Choi Yechan, a researcher at Sangsangin Securities, stated in a report titled "Is Gold Becoming a Speculative Asset? No Need to Worry" on November 27, "The increased correlation between gold and the stock market is the result of both assets responding simultaneously to the common macro variable of interest rate expectations. This should not be interpreted as a signal that gold's intrinsic value or its role as a safe-haven asset has been undermined." Choi first acknowledged the current market sentiment, noting, "It is true that in November, the daily return correlation coefficient between gold and the S&P 500

Global·Raw Materials

11.27 08:12

After Gold and Silver, Is Copper Next?... Copper Prices Continue to Rise

Following the rally in gold and silver, copper prices have also been on a steady upward trend recently. On October 27 (local time), the spot price of copper on the London Metal Exchange (LME) reached $11,094 per ton during trading, marking a 17-month high. On October 29, Meritz Securities released a report titled "There Are Reasons for Copper's Record High," diagnosing that copper prices are rising due to production disruptions at major mines and expectations of a copper supply shortage next year. Concentrate Supply Shortage Due to Mine Production DisruptionsIn the copper market, a major issue has been the historic plunge in the Treatment Charge/Refining Charge (TC/RC), which is the fee smelters pay to process copper concentrate purchased from mining companies. Traditionally, mining companies receive the price of ore minus the TC/RC when selling to smelters. When ore supply is abundant, TC/RC is high; when supply is tight, TC/RC drops. Recently, the spot TC has plummeted to zero dollar

Global·Raw Materials

10.29 07:56

"Gold Prices to Rise Again... Oil Prices to Accelerate Upward by End of Next Year"

The price of gold, which had reached an all-time high by surpassing $4,300 per ounce, has now sharply dropped back to $4,000 per ounce. The decline has widened as the pre-demand that emerged ahead of India's Diwali festival (mid-October to mid-November) has disappeared, amid growing fatigue from the recent short-term rally. On October 24, Daishin Securities released a report titled "The Soaring Gold Price Is a Preview of Rising Oil Prices," stating that now is a good opportunity to buy gold at a low price, and predicting that oil prices, which lag gold by 20 months, will accelerate their rise toward the end of next year. Oil Prices Follow Gold: The RationaleDaishin Securities forecasted that, in the long term, gold prices are bound to rise. As Ray Dalio, author of "The Changing World Order," has pointed out, U.S. ultra-long-term bonds are facing a crisis of confidence to the extent that even bidding would be difficult without the Federal Reserve. This is evidenced by the continuous inf

Global·Raw Materials

10.24 08:07

Gold and Silver Prices Plunge, Raising Liquidity Concerns... Long-Term Outlook Remains Positive

As both gold and silver prices, which had been experiencing a strong rally, plummeted simultaneously, concerns have been raised that this could signal a weakening of the liquidity rally. However, experts still assess the long-term outlook for gold and silver as positive. Park Sanghyun, a researcher at iM Securities, stated in his report “Simultaneous Plunge in Gold and Silver Prices and Liquidity” on October 22, “Although it is not yet time to seriously worry about a contraction in the liquidity rally, it is necessary to remain cautious as profit-taking is occurring, particularly in assets that have surged sharply.” First, Park cited several factors behind the sharp correction in gold prices, which had reached all-time highs: short-term profit-taking, the prolonged U.S. federal government shutdown, Indian festivals, and the strengthening of the U.S. dollar. On October 21, the price of gold fell by 5.5% compared to the previous day, marking the largest single-day drop since August 2020

Global·Raw Materials

10.22 08:28

"In Periods of Liquidity Expansion, Increase Allocation to Silver Over Gold"

The price of gold has surpassed $4,200 per ounce, setting new all-time highs day after day. With a U.S. Federal Reserve interest rate cut now widely seen as inevitable by the first half of next year, central banks around the world?many of which have high proportions of bond holdings?are increasing their gold reserves, an asset that yields no interest, to hedge against a decline in real interest rates. Some analysts even predict that, from a long-term perspective, gold could structurally rise to $5,000 per ounce. On October 17, Daishin Securities emphasized in its report, "Gold at Record Highs, But Focus Should Still Be on Silver," that during periods of significant liquidity expansion, investors should consider increasing their allocation to silver rather than gold. The report argues that, since gold now carries a hefty premium, it is more advantageous to buy the relatively cheaper silver. Statistically, gold prices tend to rise when expectations for policy rate cuts increase, while si

Global·Raw Materials

10.17 07:49

You Call Them Safe-Haven Assets? Why Are Gold and Silver Prices Falling [Why&Next]

Copper Surpasses $12,000 per Ton... Record High on Tariff and Supply Shortage Concerns

"Should I Buy at Least One?"... Gold, Silver, and Platinum Hit Consecutive All-Time Highs

iM: "Silver Super Rally... Indicates Healthy Liquidity and Economic Conditions"

Sangsangin: "Gold Becoming a Speculative Asset? No Need to Worry... Bullish Outlook Maintained"

After Gold and Silver, Is Copper Next?... Copper Prices Continue to Rise

"Gold Prices to Rise Again... Oil Prices to Accelerate Upward by End of Next Year"

Gold and Silver Prices Plunge, Raising Liquidity Concerns... Long-Term Outlook Remains Positive

"In Periods of Liquidity Expansion, Increase Allocation to Silver Over Gold"

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