welcome back to our weekly update I'm Charlotte McLoud with investingnews decom and we're going to run through a few of this week's biggest stories in the mining industry if you like this video don't forget to hit the like button subscribe to our Channel or leave us a comment below let's get into it the gold price was on the rise during the first full week of the New Year moving up from the 2630 per ounce level to pass 2670 on January 9th the yellow metal is seeing support from a variety


of factors including turmoil related to incoming US president Donald Trump CNN reported on January 8th that Trump is considering declaring a National Economic emergency in order to legally justify a wide- ranging set of tariffs on both Ally and adversary countries Trump's team hasn't confirmed this plan but if he went in that direction he'd be able to build a new tariff program via the international economic emergency Powers Act which allows the president to manage Imports during a National


Emergency the lack of clarity on Trump's tariffs boosted New York prices for both silver and copper Futures 2o that's creating opportunities for nimble traders who are able to take advantage of the disparity with London prices but could result in squeezed scenarios going back to Gold the yellow metal also reacted this week to a weaker than expected private employment report out of the US it shows that the economy added 122,000 jobs in the private sector in December lower than the estimated


rise of 140,000 the news that the People's Bank of China bought gold in December benefited the metals price as well although the central bank took a six-month pause on purchases in 2024 it started adding gold to its reserves once again in November as the week wraps up us non-farm payroll data is in focus and will be released by the time this video is posted we'll take a look at that in our next [Music] update it wasn't just tariff talk that placed Trump in the headlines the president-elect is once again speaking


about taking control of Greenland an idea that he first raised in 2019 Trump's latest remarks came as his son Donald Trump Jr visited the island which is an autonomous territory of Denmark while Greenland and Denmark have repeatedly emphasized that Greenland is not up for grabs Trump's comments have already benefited at least one Mining Company working in the country shares of ASX listed energy transition medals jumped this week seemingly boosted by hopes that Trump could smooth the way


for the company's Rare Earth Project Canada was in the news as prime minister Justin Trudeau announced his resignation on January 6th parliamentary activities have been put on hold until March 24th as the Liberal Party seeks a new leader a federal election is expected to follow quickly after that happens with the conservative party likely taking power while much uncertainty remains Eric nuttle of 9-point Partners a popular guest on this channel told BNN Bloomberg that Trudeau's resignation is fantastic


news for energy investors adding that the Prime Minister couldn't have been more antagonistic to the sector in his view of conservative L government will be favorable for the industry and stocks thank you for watching if you like like this video make sure you hit the like button and subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below [Music]