Metals News
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A giant state-owned Chinese commodities trader is nursing losses after a shipment of copper from Russia worth nearly $20 million went missing, reigniting fears over fraud in the often secretive market for buying and selling raw materials. Wuchan Zhongda Group Co., which had sales of 580 billion yuan ($80 billion) in 2023, bought 2,000 tons of refined copper ...
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Commodity trading house Gerald Group said it paid almost $49 million for tin that turned out not to be tin. Gerald Group made a provision of $37.3 million in its 2023 financial accounts after the deal to buy Brazilian tin went awry, according to a note in its 2022 accounts filed at the UK’s Companies House. The firm has started investigations and engaged ...
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A lot has happened to the economy since COVID struck, and reading the economic tea leaves has become more difficult. Many of the gains for many Australians in 2020 and 2021 were artificial and didn’t last. The COVID Supplement temporarily doubled JobSeeker, for example. JobKeeper paid workers what their employers could not. As these measures have been ...
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The report issued today by the IAEA makes clear that Iran aims to continue expanding its nuclear program in ways that have no credible peaceful purpose. These planned actions further undermine Iran’s claims to the contrary. If Iran implements these plans, we will respond accordingly. Iran must cooperate with the IAEA without further delay to fully implement ...
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video Gold triggered a bearish drop below yesterday’s 2,311 low today, thereby triggering an initial signal for a small bearish flag from the past few days. Resistance for the day was seen at 2,327, which was below yesterday’s high of 2,342. Sellers have been dominating price action since. At the time of this writing gold looks like it will likely end ...
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The gold market has seen elevated volatility in recent weeks amid dynamic shifts in interest rate expectations; however, one market strategist said that the precious metal remains well supported even as the Federal Reserve hesitates to cut interest rates anytime soon. In an interview with Kitco News, George Milling-Stanley, Chief Gold Strategist at State ...
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The Federal Reserve’s favored inflation gauge is set for the smallest advance since November following two better-than-expected reports on prices out this week. Bureau of Labor ...
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The Bank of Japan is likely to keep interest rates ultra-low on Friday but consider whether to start reducing its huge balance sheet in a slow but steady retreat from its massive ...
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It has been a topsy-turvy 24 hours for financial markets. Treasury yields plunged in the wake of the soft CPI report, but retraced a little as markets digested the more ...
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The Producer Price Index for final demand declined 0.2 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices increased 0.5 ...
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post: YELLEN: STRONG US GROWTH IS LIFTING GLOBAL GROWTH YELLEN: THE LABOR MKT REMAINS STRONG YELLEN: US LABOR MKT PRESSURES HAVE EASED, WAGES RISING MORE SLOWLY
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video Gold triggered a bearish drop below yesterday’s 2,311 low today, thereby triggering an initial signal for a small bearish flag from the past few days. Resistance for the day was seen at 2,327, which was below yesterday’s high of 2,342. Sellers have been dominating price action since. At the time of this writing gold looks like it will likely end ...
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Gold: chart Gold is under pressure as traders focus on Fed’s federal funds rate projections. The central bank expects a single rate cut in 2024, which is bearish for gold markets. A successful test of the support at $2295 – $2305 will push gold towards the next support level at $2190 – $2200. Silver: chart Silver tests support at $28.75 – $29.00 as ...
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In response to increasing investor demand for more cost-effective trading solutions, FP Markets, a global multi-asset Forex and CFD broker, has further reduced its spreads across various trading instruments. Christodoulos Psomas, Head of Risk at FP Markets, expressed his enthusiasm for the move and commented: ‘Through the continuous optimisation of our ...