👷‍♀️ Greetings, Contrarian!

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and go out for karaoke. 🎤🎵🎶

📝 Here are the highlights

🧐 Bullion Under Pressure

🤔 Copper Takes Breather

🐦 First Phosphate Delivers

📌 Daily Commodity Prices

🧐 Bullion Under Pressure

Gold prices slipped today, extending losses after a sharp 2% decline in the previous session, as surging oil prices fuelled inflation concerns and reinforced expectations that the U.S. Federal Reserve could keep interest rates higher for longer.

Spot gold fell 0.2% to $4,037.29 per ounce, while U.S. gold futures eased 0.3% to $4,039.80 per ounce.

Despite the recent weakness, bullion remains on track for a 0.5% weekly gain.

🤔 Copper Takes Breather

Copper prices retreated from near-record highs on Thursday as escalating tensions between the US and Iran triggered a broader sell-off in metals markets, overshadowing strong earnings from major copper producers.

Teck Resources, Freeport-McMoRan and Southern Copper all reported robust quarterly results, supported by high copper prices and rising production, while Panama continued discussions over a potential restart of the Cobre Panama mine.

Despite the pullback, copper remains more than 12% higher this year, supported by tight global supplies, strong Chinese demand and expectations of US import tariffs.

Exchange inventories outside the US continue to decline sharply, reinforcing the market's longer-term bullish outlook.

📰 In Other News

🐦 First Phosphate Delivers

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Happy Speculating!

The Editor

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