China Y&X Beijing Technology Co., Ltd. Company News

.gtr-container-k7p2x9 { font-family: Verdana, Helvetica, "Times New Roman", Arial, sans-serif; color: #333; line-height: 1.6; padding: 20px; max-width: 800px; margin: 0 auto; box-sizing: border-box; } .gtr-container-k7p2x9 p { font-size: 14px; margin-bottom: 1em; text-align: left !important; } .gtr-container-k7p2x9 .gtr-highlight { font-size: 18px; font-weight: bold; color: #2583AE; margin-top: 1.5em; } @media (min-width: 768px) { .gtr-container-k7p2x9 { padding: 30px; } } According to Reuters, quoted by Miningweekly, data released by Peru's Ministry of Energy and Mines recently showed that the country's copper output in May was 226,096 tons, up 2.3% year-on-year. This preliminary report by the Ministry of Energy and Mines of Peru shows that in the first five months of this year, Peru's copper production totaled 1.14 million tons, up 3.3% year-on-year. In 2025, Peru's copper output was 2.77 million tons, which was basically the same in the past three years, mainly due to the lack of new projects, social conflicts in major mines and the decline in grade. Peru is the third largest copper producer in the world. source:https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202607/t20260717_10275314.htm

.gtr-container-jkl789 { font-family: Verdana, Helvetica, "Times New Roman", Arial, sans-serif; color: #333; line-height: 1.6; padding: 15px; max-width: 100%; box-sizing: border-box; } .gtr-container-jkl789 p { margin-bottom: 1em; text-align: left !important; font-size: 14px; color: #444; } .gtr-container-jkl789 .gtr-lead-paragraph { font-size: 18px; font-weight: bold; color: #2583AE; margin-bottom: 1.5em; } .gtr-container-jkl789 .gtr-source { font-size: 12px; color: #666; margin-top: 2em; border-top: 1px solid #e0e0e0; padding-top: 1em; } .gtr-container-jkl789 .gtr-source a { color: #2583AE; text-decoration: none; font-weight: bold; } .gtr-container-jkl789 .gtr-source a:hover { text-decoration: underline; color: #1a6a8e; } @media (min-width: 768px) { .gtr-container-jkl789 { padding: 30px; max-width: 800px; margin: 0 auto; } } Malaysia is scrutinizing Lynas Rare Earths’ (ASX: LYC) $96 million supply agreement with the US Department of Defense after a parliamentary committee reviewed whether the deal could affect the country’s support for the Palestinian cause and future rare earths policy. The parliamentary special select committee on international relations and international trade, chaired by MP Wong Chen, met on July 16 to examine the Australian company’s role in the US defence supply chain, according to a statement released Friday. The committee heard from government officials, non-governmental organizations and Lynas executives. It recommended the government develop a clearer foreign investment policy to protect Malaysia’s national interests and sovereignty and issue an official position on the matter within two weeks. “The committee convened this proceeding to examine and assess the impact of the supply agreement, which is viewed as potentially affecting Malaysia’s reputation as a steadfast supporter of Palestine,” the committee said. The review follows growing domestic pressure over Lynas’ four-year Pentagon agreement. More than 20 Malaysian civil society organizations, including Greenpeace Malaysia, urged greater oversight of the country’s rare earths supply chain, arguing the agreement supports the US military, which backs Israel in its war against Hamas in Gaza. Muslim-majority Malaysia has long supported the Palestinian cause and has no diplomatic ties with Israel. The committee said its findings will help shape Malaysia’s rare earths policy as the country seeks investment to expand its domestic industry. Lynas, the world’s largest rare earths producer outside China and operator of the world’s largest rare earths processing facilities in Malaysia, did not immediately respond to requests for comment. source:https://www.mining.com/malaysia-probes-lynas-pentagon-rare-earths-supply-deal/

.gtr-container-x7y2z9 { font-family: Verdana, Helvetica, "Times New Roman", Arial, sans-serif; font-size: 14px; line-height: 1.6; color: #333; padding: 15px; box-sizing: border-box; } .gtr-container-x7y2z9 p { margin-bottom: 1em; text-align: left !important; } .gtr-container-x7y2z9 .gtr-sub-heading { font-size: 18px; font-weight: bold; color: #2583AE; margin-top: 1.5em; margin-bottom: 1em; text-align: left !important; } .gtr-container-x7y2z9 strong { font-weight: bold; color: #2583AE; } .gtr-container-x7y2z9 a { color: #2583AE; text-decoration: none; transition: color 0.3s ease; } .gtr-container-x7y2z9 a:hover { color: #1e6a8e; text-decoration: underline; } .gtr-container-x7y2z9 .gtr-source { font-size: 12px; color: #666; margin-top: 2em; text-align: left !important; } @media (min-width: 768px) { .gtr-container-x7y2z9 { max-width: 800px; margin: 0 auto; padding: 20px; } .gtr-container-x7y2z9 .gtr-sub-heading { margin-top: 2em; } } Copper retreated in after-hours trading on Thursday as an escalation in US-Iran hostilities sparked a broad selloff across metals. Damage to copper prices was more limited than gold and silver as a powerful storm sweeping across Chile kept supply risks squarely in view. Copper for September delivery settled little changed at $6.342 per pound ($13,980 a tonne) on the Comex, holding near three-week highs, before sliding 1.1% to $6.27 a pound in evening trade as of 9 p.m. in New York. The most-active contract is now trading about 6% below the all-time high above $6.60 a pound set in early June. In London, three-month copper ended the midweek session at $13,585 a tonne, with LME cash copper up nearly 8% so far this year. The late-session pressure came after the US struck an oil tanker near Iran’s main export terminal for the first time since the restart of the blockade, driving the dollar and bond yields higher and rekindling expectations that the Federal Reserve may need to hike rates to contain oil-fuelled inflation. Gold fell 2.1% to below $4,000 an ounce and silver dropped almost 4%, while the S&P 500 lost 0.5%. Category 5 Copper’s relative resilience owes much to Chile, where a major winter storm — classified as a potential Category 5 atmospheric river, the highest rating for such events — began sweeping across the country on Thursday, knocking out power and damaging homes in the south before an expected hit on the central copper heartland with as much as 150 millimetres of rain. “We are going to have power outages,” Interior Undersecretary Máximo Pavez said Thursday. “We are doing everything possible so that authority coordination means a swift restoration of service, but with the wind we have, that service will be affected.” The government convened emergency talks with mining industry representatives earlier this week and is coordinating with miners to make infrastructure, equipment and machinery available for the response, according to a Mining Ministry statement. The country’s largest copper export terminals remain largely operational. The storm threat lands on an already stretched supply picture. Antofagasta reported this week that first-half copper output dropped 9.5% to 285,000 tonnes on lower production at two key mines, BHP has flagged declining Chilean output for next year, and the IEA warned just today that constraints on sulphuric acid supply have left the copper market facing a near-term outlook that has “worsened considerably”. Chile’s own government underscored the tension on Wednesday: it cut its 2026 economic growth forecast to 1.8%, citing “elevated uncertainty associated with the conflict in the Middle East” — while raising its 2026 copper price assumption to $5.90 per pound from $5.46, joining a lengthening list of upgraded copper forecasts. Miners caught in the selloff Copper equities took the Iran news harder than the metal. Freeport-McMoRan (NYSE: FCX) fell 4% and Ivanhoe Mines (TSX: IVN) lost 4.9%, while Antofagasta (LSE: ANTO) gave up 4.1% after its production report and Southern Copper (NYSE: SCCO) shed 3.2%. BHP (ASX: BHP) slipped 2.3% on the day of its full-year results. source:https://www.mining.com/monster-storm-bears-down-on-chiles-copper-mines-as-iran-flare-up-rattles-metals/

.gtr-container-k2m9p1 { font-family: Verdana, Helvetica, "Times New Roman", Arial, sans-serif; color: #333; line-height: 1.6; padding: 15px; box-sizing: border-box; max-width: 100%; overflow-x: hidden; } .gtr-container-k2m9p1 * { box-sizing: border-box; } .gtr-container-k2m9p1 p { font-size: 14px; margin-bottom: 1em; text-align: left !important; word-break: normal; overflow-wrap: normal; } .gtr-container-k2m9p1 strong { color: #2583AE; font-weight: bold; } .gtr-container-k2m9p1 .gtr-title { font-size: 18px; font-weight: bold; color: #2583AE; margin-bottom: 1.5em; text-align: left; padding-bottom: 10px; border-bottom: 1px solid rgba(37, 131, 174, 0.2); } .gtr-container-k2m9p1 .gtr-subtitle { font-size: 16px; font-weight: bold; color: #444; margin-top: 1.5em; margin-bottom: 1em; text-align: left; } .gtr-container-k2m9p1 .gtr-section { margin-bottom: 2em; padding: 15px; border-radius: 8px; background-color: rgba(37, 131, 174, 0.03); border: 1px solid rgba(37, 131, 174, 0.1); } .gtr-container-k2m9p1 .gtr-list { list-style: none !important; padding-left: 25px; margin-top: 0.5em; margin-bottom: 1em; } .gtr-container-k2m9p1 .gtr-list li { position: relative; margin-bottom: 0.6em; font-size: 14px; padding-left: 15px; text-align: left; } .gtr-container-k2m9p1 .gtr-list li::before { content: "•" !important; position: absolute !important; left: 0 !important; color: #2583AE; font-size: 1.2em; line-height: 1; top: 0; } @media (min-width: 768px) { .gtr-container-k2m9p1 { padding: 25px; max-width: 960px; margin: 0 auto; } .gtr-container-k2m9p1 .gtr-title { font-size: 20px; margin-bottom: 2em; } .gtr-container-k2m9p1 .gtr-subtitle { font-size: 18px; margin-top: 2em; margin-bottom: 1.2em; } .gtr-container-k2m9p1 p { font-size: 14px; } .gtr-container-k2m9p1 .gtr-section { padding: 20px; } } Chile's Copper Industry: H1 2026 Performance and Challenges According to the BNAmericas website, the copper price was at a high level in the first half of 2026, and the export of Chilean mineral products reached a new high. However, several copper producers faced different management and production problems. According to data from relevant departments, in the first half of 2026, Chile's export of mineral products reached US$ 36.8 billion, a year-on-year increase of 20.4%. In the same period, the international copper price was US$ 5.94/lb, and Chile's copper exports were US$ 30.2 billion, up 11.5% year-on-year, accounting for 50.1% of exports. Declining Performance and Key Challenges However, since the beginning of this year, the monthly economic activity index (Imacec) of Chile has been declining, mainly due to the poor performance of the mining industry. Due to the decline in copper production in several mines, the mining industry index has dropped by 11.6% year-on-year. The main reasons for the decline of mining industry are: Lack of water Decline in grade Unexpected shutdown and maintenance of mines Conversion from oxidized mines to sulfide mines Labor disputes Strikes are intensive, as rising copper prices stimulate miners to demand more income. Affected Mines From the cumulative output in the first five months of 2026, the output of the following mines decreased: Escondida Collahuasi Los Pelambres El Abra Candelaria Bayas, Lomas Bayas Mines facing water shortage for a long time include: Los Bronces Zaldívar Other mines are experiencing the transition from near-surface high-grade oxidized ore to mixed ore and sulfide ore, which requires more complicated treatment process and higher cost, such as Sentini. Labor disputes have also affected the copper industry, including the Mantoverde mine strike, which has affected production. Economic Impact and Diversification The Imacec index for the first five months of 2026 released by Chile's central bank in July once again shows that the country's economy is heavily dependent on copper mining. Copper mining accounts for more than 10% of Chile's national GDP, so the decline of mining industry by 11.6% affects all aspects of the economy. One way to solve the diversification of mining industry is lithium, and its proportion in exports has increased. It is very important to seize the opportunity of rising lithium price, which is conducive to consolidating a pillar industry in Chile. source:https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202607/t20260716_10274443.htm

.gtr-container-7f8e9a { font-family: Verdana, Helvetica, "Times New Roman", Arial, sans-serif; color: #333; line-height: 1.6; padding: 20px; max-width: 100%; box-sizing: border-box; border-radius: 8px; box-shadow: 0 4px 12px rgba(0, 0, 0, 0.08); } .gtr-container-7f8e9a p { font-size: 14px; margin-bottom: 1em; text-align: left !important; word-break: normal; overflow-wrap: normal; } .gtr-container-7f8e9a .section-heading { font-size: 18px; font-weight: bold; color: #2583AE; margin-top: 2em; margin-bottom: 1em; padding-bottom: 5px; border-bottom: 1px solid rgba(37, 131, 174, 0.3); } .gtr-container-7f8e9a .highlight { font-weight: bold; color: #2583AE; } @media (min-width: 768px) { .gtr-container-7f8e9a { padding: 30px 40px; max-width: 960px; margin: 20px auto; } } According to BNAmericas, the United States is seeking to become a key partner in Chile's mining sector; not only are international mining giants like Freeport-McMoRan, Albemarle, and Newmont investing $24.2 billion to expand production, but smaller enterprises are also making greenfield investments, and startups are choosing the country to validate their technologies. Major global powers are currently accelerating efforts to secure stable supplies of critical minerals from reliable partners. Chile, with its immense geological potential and welcoming stance toward foreign investment, represents an attractive destination. While China remains Chile's primary trading partner, and Canada, Japan, and Australia continue to be major sources of foreign investment in the Chilean mining industry, recent cooperation between Chile and the U.S.—including a joint statement establishing a consultation mechanism for critical minerals and rare earths—could alter this landscape. Both governments aim to consolidate a strategic alliance, and Chile's intention to serve as a key supplier is becoming increasingly evident. Export Statistics (2020-2025) Between 2020 and 2025, the annual value of Chilean mineral exports to the U.S. reached $9.412 billion, reflecting an average annual growth rate of 24.4%. During the same period, copper exports averaged $8.684 billion annually, growing by 26.5%. In 2025, Chilean electrolytic copper accounted for 54% of total U.S. imports, while its shares of rhenium, iodine, and lithium hydroxide imports stood at 95%, 88%, and 82%, respectively. Major Investments Chile also exports lithium carbonate, gold, and silver bullion to the U.S., and the trade relationship between the two nations is set to deepen further. Diversified mining company Freeport-McMoRan, through its local subsidiary Minera El Abra, is investing $7.5 billion to extend the operational life of the El Abra copper mine by 40 years and boost production. Albemarle plans to invest $3.1 billion in a project at the Salar de Atacama utilizing Direct Lithium Extraction (DLE) technology, a move that would nearly triple its production capacity from current levels. Through partnerships with other companies, Newmont is advancing the NuevaUnión and Norte Abierto greenfield projects. The new alliance project involves a $7.2 billion investment to build a mine capable of producing 190,000 tonnes of copper and 315,000 ounces of gold annually during its first decade of operation. The Norte Abierto project entails a $6 billion investment to develop a combined mining operation comprising the Cerro Casale and Caspiche deposits. Smaller Enterprises & Startups Atana Elements, a company focused on lithium and critical mineral exploration, raised $27.5 million in June to expand its Latin American operations—with a particular focus on Chile—as it prepares to seek partners for project implementation. Chilean Cobalt Corp (CCC) is developing the La Cobaltera project, which requires an investment of $400 million. The project aims to produce 3,000 to 5,000 tonnes of cobalt concentrate and 20,000 to 25,000 tonnes of copper concentrate annually over a 15-year mine life. The final destination for these products is the United States for processing. CCC secured a $317 million loan from the Export-Import Bank of the United States to support the development of La Cobaltera and other projects in Chile, including the NeoRe ionic rare earth project. Pureli, a developer of Direct Lithium Extraction (DLE) technology, recently joined a project led by Fundación Chile and Corfo (the Chilean economic development agency) to scale up and validate its solution in Chile. Chile holds 25% of the world's lithium reserves, and according to the startup, the country's abundant reserves offer a "strategic opportunity" for its process. source:https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202607/t20260714_10272673.htm

.gtr-container-exp789 { font-family: Verdana, Helvetica, "Times New Roman", Arial, sans-serif; color: #333; line-height: 1.6; padding: 16px; max-width: 100%; box-sizing: border-box; border: none; } .gtr-container-exp789 { --primary-color: #2583AE; --primary-dark: #1e6a8e; --text-color: #333; --light-bg: #f8f8f8; --border-color: #e0e0e0; --accent-light: #e0f0f7; } .gtr-container-exp789 p { font-size: 14px; margin-bottom: 1em; text-align: left !important; word-break: normal; overflow-wrap: normal; } .gtr-container-exp789 .gtr-title { font-size: 18px; font-weight: bold; color: var(--primary-color); margin-bottom: 1.5em; text-align: left; } .gtr-container-exp789 .gtr-subtitle { font-size: 16px; font-weight: bold; color: var(--primary-dark); margin-top: 1.5em; margin-bottom: 0.8em; text-align: left; } .gtr-container-exp789 .gtr-highlight { font-weight: bold; color: var(--primary-color); } .gtr-container-exp789 .gtr-quote-block { background-color: var(--accent-light); border-left: 4px solid var(--primary-color); padding: 12px 16px; margin: 1.5em 0; font-style: italic; color: var(--text-color); border-radius: 4px; } .gtr-container-exp789 .gtr-quote-block p { margin-bottom: 0; font-size: 14px; } @media (min-width: 768px) { .gtr-container-exp789 { padding: 24px; max-width: 800px; margin: 0 auto; } .gtr-container-exp789 .gtr-title { font-size: 20px; } } Chile's Export Surge: Lithium and Copper Drive Economic Growth According to Mining.com, Chile's lithium export value nearly tripled year-on-year in the first half of the year, driven by rising prices and strong global demand. Data released by the Central Bank of Chile on Wednesday shows that lithium exports reached $3.2 billion during the first six months—nearly three times the figure from the same period last year and 34.4% higher than the total export value for the full year of 2025. Lithium carbonate saw the largest growth, followed by lithium sulfate and lithium hydroxide. Total export value rose by 20.4% to $36.9 billion. "Demand remains robust, as lithium is a critical material for electric vehicles, energy storage, appliances, AI-related technologies, and data centers," the Chilean government stated. These figures reinforce Chile's position as the world's second-largest lithium supplier, particularly as the electrification of transport, grid investment, and digital infrastructure drive growth in demand for battery materials. Chile currently has only two lithium producers—SQM and Albemarle—but the country is seeking to expand production through state partnerships and private sector development projects. Copper Exports Also Show Strong Growth Copper, Chile's largest export, also showed strong growth. Exports totaled $30.2 billion in the first half of the year, an 11.5% year-on-year increase driven primarily by higher prices and increased export volumes. Copper accounted for 50.1% of Chile's total exports, highlighting the country's rising prominence in supplying critical metals needed for the global energy transition. source:https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202607/t20260710_10270703.htm

Rare earths producer Energy Fuels will buy Germany’s Vacuumschmelze in a $1.9 billion cash-and-stock deal to become one of the world’s largest non-Chinese producers of magnets used in the aerospace, defence and renewable energy sectors. US-based Energy Fuels is joining the race to capitalize on efforts by Washington and allies to wean themselves off market leader China, which has curtailed exports of critical minerals as trade tensions with the West have intensified. G7 leaders said last week that they aim to reduce dependence on any one supplier for ​rare earths and permanent magnets to less than 60% by 2030, with an ultimate goal of 50%. Energy Fuels, a producer of uranium for the nuclear power industry, said it will pay private equity firm Ara Partners $718 million in cash plus 65.853 million newly issued Energy Fuels common shares for Vacuumschmelze, also known as VAC. Shares in Energy Fuels fell as much as 6.2% in premarket trading and were last down 2.3%. Century-old magnet producer VAC is more than 100 years old and supplies magnets to more than 1,000 customers, including General Motors, from facilities in Germany, the US, Malaysia and other countries. While the likes of MP Materials and USA Rare Earth have built their own magnets businesses, Energy Fuels preferred to buy an existing producer, CEO Ross Bhappu told Reuters. “This is not an easy business to get into. It’s not an easy one to understand,” said Bhappu, who took the helm in April. “It also takes a long time to get customer acceptance of those magnet products. VAC has that customer acceptance.” Ara Partners will become one of the largest Energy Fuels shareholders with a roughly 20% stake and a seat on the board when the deal closes early next year. Bhappu said that Energy Fuels intends to integrate VAC and its 3,600 workers, including CEO Erik Eschen, but keep the Vacuumschmelze brand name. Existing VAC plants, including one in China, will stay open, with expansions planned for a facility that opened late last year in South Carolina, Bhappu added. (By Pooja Menon and Ernest Scheyder; Editing by Tasim Zahid and David Goodman) source:https://www.mining.com/web/energy-fuels-to-buy-germanys-vac-as-rare-earths-magnet-race-heats-up/

Caterpillar (NYSE: CAT) has acquired mining technology company Skycatch to strengthen its digital mining platform with AI-powered spatial data and near-real-time digital twin capabilities. Terms of the transaction were not disclosed. The acquisition follows Caterpillar’s recent purchase of RPMGlobal and expands the company’s portfolio of mining technology aimed at helping customers optimize material movement, improve operational performance and support both staffed and autonomous fleets. Skycatch’s platform captures high-resolution spatial data and processes it with artificial intelligence to give mine operators a more accurate, up-to-date view of site conditions, allowing faster and more precise operational decisions. “Acquiring Skycatch aligns with our strategy to solve our customers’ toughest challenges,” Denise Johnson, group president of Caterpillar Resource Industries, said. “By integrating near-real-time, high-resolution spatial data into both RPM and MineStar solutions, we can help customers improve mine site performance by enhancing safety, productivity and predictability across their operations using both staffed and autonomous fleets.” Integrating Skycatch’s technology with RPM and MineStar is expected to give customers more accurate operational data, improving planning, execution and confidence in day-to-day mine management. Richard Mathews, CEO of RPMGlobal, said Skycatch’s technology allows miners to process large volumes of spatial data much faster, enabling operations to adjust plans in near real time and improve alignment between mine planning and execution. “We’re incredibly proud of what Skycatch has built over the past decade and excited for this next chapter with Caterpillar,” Skycatch founder and CEO Christian Sanz said. “This next step strengthens our ability to support our customers while increasing the value we can deliver.” source:https://www.mining.com/caterpillar-buys-skycatch-to-boost-ai-mine-technology/

.gtr-container-a1b2c3d4 { font-family: Verdana, Helvetica, "Times New Roman", Arial, sans-serif; color: #333; line-height: 1.6; padding: 15px; max-width: 100%; box-sizing: border-box; margin: 0 auto; } .gtr-container-a1b2c3d4 p { font-size: 14px; margin-top: 0; margin-bottom: 1rem; text-align: left !important; word-break: normal; overflow-wrap: normal; } .gtr-container-a1b2c3d4 .gtr-heading { font-size: 18px; font-weight: bold; margin-top: 1.5rem; margin-bottom: 1rem; color: #2583AE; text-align: left; } @media (min-width: 768px) { .gtr-container-a1b2c3d4 { padding: 25px; max-width: 800px; } } Cameco (TSX: CCO; NYSE: CCJ) says it has temporarily suspended operations at its Cigar Lake mine in northern Saskatchewan, citing disruptions at the McClean Lake mill operated by France’s Orano. The McClean Lake mill, where the Cigar Lake ore is normally processed, has encountered operational challenges with its sulfuric acid plant that caused it to shut down in order to repair the issue, the uranium miner said in a press release on Wednesday. Orano is currently working to bring the plant back online and is assessing options to obtain acid supply from an alternative source while it waits for replacement parts to complete the repair, Cameco added. “With limited ore storage capacity at Cigar Lake, we have temporarily suspended mining activities until sufficient acid is available to allow processing to resume at McClean Lake,” Cameco’s statement reads. Shares of Cameco were little moved during the early hours of trading despite the operational setback. Trading at about $102 a share in New York, the company has a market capitalization of $44.6 billion. Two-week stoppage The company expects the McClean Lake mill to resume in ​about two weeks and does not anticipate an ‌impact ⁠on its 2026 production outlook for Cigar Lake, though it did not rule out a longer-than-expected disruption. Depending on the duration of any additional delays, our 2026 production outlook could be impacted, it said. McClean Lake represents one of the world’s largest uranium processing facilities, with an annual production capacity of 24 million lb. in concentrates. It is operated by Orano as its majority owner (77.5%) in partnership with Denison Mines (22.5%). The site is located 750 km north of Saskatoon. Cigar Lake, situated 70 km southwest of the mill, is the world’s highest-grade uranium mine. Since commissioning in 2014, the operation has produced a total of 174.5 million lb. of yellowcake. source:https://www.mining.com/cameco-shuts-cigar-lake-mine-on-orano-mill-disruption/

Gold is on track for its worst quarter in 13 years as war-induced inflation concerns in recent weeks sent the metal on a downward spiral that took out its entire gains in 2026. Spot prices are trading at just above $4,000 an ounce, having plunged 15% over the past three months and 7.5% on the year. Earlier, it had dipped below that level — viewed as a key support — for the first time since early November. The yellow metal is now heading towards its first quarterly decline since 2024, and its worst three-month performance since the June quarter of 2013. Rollercoaster year Bullion has gone through a rollercoaster ride this year, soaring to a record of nearly $5,600/oz. in January followed by a massive selloff — its worst since the 1980s. An attempt at recovery was cut short by a months-long decline, as the US-Iran conflict escalated into a regional war that sent energy prices higher, raising expectations of interest rate hikes globally and placing sustained pressure on gold. “There’s pressure on gold because people are not seeing much light at the end of the tunnel,” said Marex analyst Edward Meir, referencing the Middle East conflict that had caused a 25% drop in gold prices since late February. With the inflationary worries lingering, investors are closely watching the Federal Reserve’s next moves — whether high price levels warrant a rate hike, which many are penciling in for December and may even begin as early as September. “Markets expect the Federal Reserve to keep interest rates elevated for a prolonged period and may even consider further rate hikes,” Meir said, noting that these expectations were weighing on gold prices. There are “lingering concerns that the Federal Reserve may keep a hawkish stance despite the sharp decline in energy prices,” Ole Hansen, head of commodity strategy at Saxo Bank, told Bloomberg, while adding that some traders may have gained confidence from gold’s rebound from last week’s low. “However, prices first need to break above $4,100 before it is reasonable to consider that a short-term low may have been established,” he added. source:https://www.mining.com/gold-price-set-for-worst-quarter-in-13-years/