welcome back to our weekly update I'm Charlotte McLoud with investing news.com and we're going to run through a few of this week's biggest stories in the mining industry if you enjoy this video don't forget to hit the like button subscribe to our Channel and leave us a comment below let's get into it gold continued its record setting rise this week moving cleanly past to 2900 per ounce mark on February 10th and continuing on op at the time of this recording on February 13th the elemental


highest price for the period was about 2933 trade War concerns remained front and center with US president Donald Trump introducing plans to impose 25% tariffs on All Steel and aluminum Imports the levies will take effect on March 12th and are geared at bolstering us production and jobs Trump escalated tariff talk even further by announcing reciprocal tariffs on Goods coming into the US they could start being put in place within weeks and will reportedly be based on which tariffs individual countries have imposed on the us


although one of Trump's campaign promises was to curb inflation he said tariffs could initially send prices higher for American buyers time will tell but new consumer and producer price index data shared this week confirms that inflation continues to be sticky Bureau of Labor Statistics data shows CPI was up 3% year-on-year in January above analyst expectations and higher than the 2.9% rise seen in December on a monthly basis CPI was up 0.5% its biggest increase since August 2023 3 core CPI which excludes the volatile


food and energy categories was up 3.3% year on-year and 0.4% from the previous month January PPI numbers also came in hotter than expected rising 0.4% from December and 3.5% compared to January 2024 BPI tracks inflation before it reaches consumers and can be a preview of where CPI is heading during his semiannual testimony to Congress which took place over the course of 2 days US Federal Reserve chair General Powell commented on this week's CPI data saying that the Central Bank isn't in a hurry


to reduce interest rates further gold tends to Fair better when rates are lower but lately has been bucking the trend its historic price run began even before the FED started cutting Ukraine May strike a rare earth Supply deal with the us as the country looks to secure continued support from America in its war against Russia Trump said last week that he expects Equalization from Ukraine for the help it's received explaining that he wants to see it in the form of 500 billion worth of rare Earths his comments have


raised numerous questions including whether Trump is referring specifically to rare Earths or to critical minerals in general experts have also weighed in on whether Ukraine has the ability to supply such a large amount of material to the US the Associated Press notes that existing geological studies are largely inadequate and states that 40% of Ukraine's metallic mineral resources are inaccessible due to Russian occupation it remains to be seen how the situation will play play out but it's


worth noting that Ukraine's president appears encouraged by discussions with Trump we've got a great set of guests coming next week and I'd love to hear what questions and topics you'd like to see covered I'll be speaking with Kevin Wadsworth and Patrick Kareem of Northstar bad charts Craig hmy of TF medals report.com and ion blasik of BMG group leave a comment below to let me know your thoughts thank you for watching if you like this video make sure you hit the like button and


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