Gold and Silver Industry & Investing News

China’s exports of rare earth magnets plummeted by more than 50% in May compared to April, reaching their lowest point in over five years. The sharp decline stems from new export restrictions China imposed in April on rare earth products and magnets. As the world’s dominant supplier controlling over 90% of global production, China’s export curbs have disrupted supply chains for industries including automotive, aerospace, semiconductors, and military equipment. While Beijing has promised to expedite approval processes following U.S.-China trade talks, customs officials remain cautious about processing shipments, creating uncertainty for global buyers.

Canada may increase its counter-tariffs on US steel and aluminum if a broader trade deal isn’t reached with President Trump by July 21. Prime Minister Mark Carney announced new measures to support Canadian steel and aluminum companies, including changes to federal procurement rules that will favor Canadian producers. The US recently increased import duties on these metals from 25% to 50%, which could significantly impact Canada, the largest supplier of steel and aluminum to the US. Canada has already imposed 25% retaliatory tariffs on $15.6 billion worth of US steel and aluminum products.

Toronto-based Greenland Resources Inc. has received a 30-year permit to mine molybdenum and magnesium at the Malmbjerg project in east Greenland. This is significant because molybdenum is essential for steel and defense manufacturing, with only China (87%) and the US (13%) currently producing it. The Canadian company says the project could supply all of Europe’s defense molybdenum needs for decades. The permit comes as Greenland faces increased geopolitical attention from both the US and EU, who want to reduce dependence on Chinese raw materials. Greenland’s government sees the project as a step toward economic self-sufficiency and job creation, following recent...

Japan’s chief trade negotiator Ryosei Akazawa expressed uncertainty about ongoing trade talks with the United States, describing negotiations as being “in a fog.” Japan hopes to convince President Trump to eliminate a 25% tariff on Japanese cars and other import tariffs currently paused until July 9. The lack of progress raises concerns that talks may extend past Japan’s July 20 upper house elections, making agricultural concessions politically difficult for Prime Minister Ishiba. The tariffs are already impacting Japan’s economy, with exports declining in May for the first time in eight months.

Gold prices dropped 2.5% this week, heading for their worst weekly performance in over a month. The decline came after the Federal Reserve signaled fewer interest rate cuts ahead and as tensions between Israel and Iran appeared to ease temporarily. President Trump said he’ll decide within two weeks whether the U.S. will intervene in the conflict. The stronger dollar and profit-taking by traders also contributed to gold’s pullback from recent highs.

The Federal Reserve announced Wednesday that it will maintain its current benchmark interest rate, marking the fourth straight meeting without a rate change. This decision keeps borrowing costs high for American consumers and businesses. The Fed is holding off on any rate adjustments while it gathers more data on how President Trump’s aggressive tariff agenda and ongoing Middle East tensions might impact the economy. Despite the U.S. economy demonstrating resilience under current conditions, there are signs that both businesses and consumers are pulling back on spending as they await more clarity on economic policy. The decision drew criticism from President...

Markets are experiencing volatility as Middle East tensions rise between Israel and Iran, prompting investors to move away from risky assets. Silver has reached its highest price since February 2012, driven by strong demand from green energy and tech sectors. Meanwhile, Reddit shares continue climbing after launching new AI advertising tools, and Regencell Bioscience stock has skyrocketed following a 38-for-1 stock split, despite the company having no revenue.

May’s inflation data showed surprisingly low price increases, with CPI rising just 0.1% monthly and staying under 2.5% annually. Key categories like cars and clothing actually saw price drops despite new tariffs. This “missing inflation” may be due to businesses stockpiling imports before tariffs hit and weak consumer demand. However, this calm is likely temporary. Business costs are rising rapidly, and these will eventually be passed to consumers. Despite market hopes for Fed rate cuts, the central bank will probably keep rates steady through 2025, having learned from past mistakes about “transitory” inflation.