Strong copper and gold prices are driving a sharp increase in demand for industrial explosives used in mining operations. Australian explosives and blasting service providers said copper mine expansions and new project developments are boosting order volumes across the sector. Analysts noted that AI infrastructure, electrification, and energy-transition spending are fueling a broader mining investment cycle, benefiting the entire copper supply chain. The mining services industry is expected to remain strong over the coming years as global resource demand continues rising.

India, the world’s second-largest bullion market, has seen gold and silver imports grind to a halt for five weeks since April 1, driving domestic prices to a premium of over $20 an ounce above international levels for the first time since early February.

Gold has been pulled in two directions in recent weeks. On one side, rising oil prices and escalating geopolitical tensions have strengthened the metal’s safe-haven appeal.

Starting from the new all-time high of USD 5,602 on January 29, the gold price has now been in a correction phase for over three months, characterized so far by two sharp downward waves, two recovery waves, and most recently by another downward wave since mid-April.

The correction in precious metal prices initially continued as expected over the course of this week.

The performance of the gold price in March surprised many investors, as the precious metal recorded significant price declines despite geopolitical escalations.