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With gold punching above $3,300/oz, Brightstar’s Selkirk is reaping the rewards of all-time high prices
It’s doré for the explorer as gold digger Brightstar Resources (ASX:BTR) proves that small-scale mining of deposits around its overall +1Moz Menzies and Laverton projects is great business, especially with gold prices hitting all-time highs >$3,300oz. BTR’s strategy has been to monetise small-scale deposits that otherwise wouldn’t be developed to fund its surrounding, large-scale project ambitions. To date, 5,546oz out of the 8,049.6oz produced from Selkirk has been sold to the Perth Mint after refining at an average realised sale price of an eye-whopping $3,306/oz. Quick-fire calculations measure that ... (full story)
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March data pointed to another solid upturn in output levels across the UK private sector, with the rate of expansion only fractionally slower than February’s nine-month high. This ...
post: SNB'S JORDAN: WILL ADJUST MONETARY POLICY AGAIN IF NECESSARY.Introductory remarks, news conference Ladies and gentlemen As Chairman of the Governing Board, it is my pleasure to welcome you to the news conference of the Swiss National Bank. I would also like to welcome all those who are joining us today online. I extend a special welcome to Antoine Martin. This is his first press conference as a Member of the Governing Board. After our introductory remarks, we will take questions from journalists as usual. Questions can also be asked by telephone. Monetary policy decision I will begin with our monetary policy decision. We have decided to lower the SNB policy rate by 0.25 percentage points to 1.5%. The change applies from tomorrow, 22 March 2024. Banks’ sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold, and at 1.0% above this threshold. We also remain willing to be active in the foreign exchange market as necessary. The easing of our monetary policy has been made possible because the fight against inflation over the past two and a half years has been effective. For some months now, inflation has been back below 2% and thus in the range we equate with price stability. According to our new forecast, inflation is also likely to remain in this range over the next few years. With our decision, we are taking into account the reduced inflationary pressure as well as the appreciation of the Swiss franc in real terms over the past year. The policy rate cut also supports economic activity. Today’s easing thus ensures that monetary conditions remain appropriate. We will continue to monitor the development of inflation closely. We will adjust our monetary policy again if necessary to ensure inflation remains within the range consistent with price stability ov
Business activity in the euro area came close to stabilising in March, as provisional PMI® survey data registered only a marginal decline in output of goods and services. A modest ...
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The easing of signals for future US interest rate hikes and the subsequent decline in the US dollar were a strong catalyst for gold prices to move towards new record levels. It ...
The rally in gold continues with prices hitting an all-time high on Thursday — and there’s room for it to rise more as central banks continue to purchase bullion in record ...
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 20 March 2024, the MPC voted by a majority of 8–1 to maintain Bank Rate at 5.25%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 5%. Since the MPC’s previous meeting, market-implied paths for advanced economy policy rates have shifted up. In the United States and the euro area, inflationary pressures have continued to abate, though by slightly less than expected. Material risks remain, notably from developments in the Middle East including disruption to shipping through the Red Sea. Having declined through the second half of last year, UK GDP and market sector output are expected to start growing again during the first half of this year. Business surveys remain consistent with an improving outlook for activity. The fiscal measures in Spring Budget 2024 are likely to post: BoE’s Haskel And Mann Drop Votes For Higher Interest Rates -First Time Since September 2021 That No Member Voted For HikeBank of England keeps interest rate at 5.25% but cut moves closer The Bank of England interest rate has been kept at 5.25% for a fifth consecutive time, but says the prospects for a cut are "moving in the right direction". The nine-member rate-setting committee continued to collectively judge it was too early to contemplate a downwards move, despite further progress in taming inflation revealed earlier this week. However, two members who had previously voted for a rate hike dropped that view. It meant that eight of the nine supported no change while one member backed, for the second meeting in a row, a reduction to 5%. The minutes of the meeting made it clear the Bank was still worried about the outlook for inflation. While the pace of price growth in the economy is well down on the 11% witnessed at the height of the energy-driven cost of living crisis, a headline reading of 3.4% remains well above the Bank's target of 2%.
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- Posted: Mar 21, 2024 5:54am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 223