CONTACT US TRADING

LOGO LOGO

LOGO

Financial news
Home
Knowledge Hub
Trump to cut off funding for South Africa over expropriation act
2025-02-03 15:22:45

Among industrial metals, benchmark copper futures on the London Metal Exchange fell 1.1% to $8,944.25 a ton, while March copper futures fell 1.9% to $4.1960 a pound.


Copper was also pressured by softer-than-expected private purchasing managers index data from top importer China, as business activity remained soft in the first month of 2025. 


JPMorgan reiterates bull case for gold 

JPMorgan analysts said in a Monday note that they maintained their bullish view on gold in the medium-term, stating that risk aversion in broader markets could still drive investors into the yellow metal. 


The investment bank still expects gold to rise to $3,000 an ounce by late-2025, stating that lower U.S. interest rates and a stabler, albeit slower economy, will drive flows into the yellow metal. 


JPM is set to deliver about $4 billion worth of gold against futures contracts in February. The investment bank is by far the largest dealer of gold in the world.


During his first administration, Trump said the U.S. would investigate unproven large-scale killings of white farmers in South Africa and violent takeovers of land. Pretoria at the time said Trump was misinformed. It is unclear whether the Trump administration carried out an investigation.

Trump's close ally Elon Musk was born in South Africa. In 2023, Musk replied on X to a video of a far-left South African political party singing an old anti-apartheid song, "Kill the Boer (farmer)", by stating: "They are openly pushing for genocide of white people in South Africa."

"@CyrilRamaphosa, why do you say nothing?" Musk asked.

Musk met Ramaphosa in the U.S. in September last year where they discussed investment in South Africa.
< PREV POST
Debt ceiling talks, Target reports, U.S. housing data - what's moving markets
NEXT POST >
Brazil's real sets longest streak of gains in 20 years

CREATE ACCOUNT

×
1
Personal Identification
2
Address Verification
3
Employment & Financial Profile
4
Trading Experience & Risk Awareness
5
Professional Account Eligibility
6
Source of Funds & Compliance
7
Corporate Entity Information
8
Review & Submit

Personal Identification

Please enter a valid email address.
Please enter a valid phone number.
Your password must be 6-20 characters long, contain letters, numbers and special characters, and must not contain spaces or emoji.
Password not match.
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required

Address Verification

This field is required
This field is required
This field is required

Employment & Financial Profile

This field is required
This field is required
This field is required
This field is required
(excluding property) (USD)
This field is required

Trading Experience & Risk Awareness

This field is required
This field is required
This field is required
This field is required

Professional Account Eligibility (Optional)

Source of Funds & Compliance

This field is required

Corporate Entity Information

Complete this section only if you're opening a corporate account

Review & Submit

Please review all information carefully before submitting. You can go back to any step to make changes.
This field is required
This field is required
This field is required

Registration Successful

Your account has been created successfully!