Metals News
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Thieves are increasingly raiding solar power stations across Japan for copper transmission wiring as prices for the metal have surged globally. Local governments are planning ordinances to regulate trade in the metal, but they are seeking nationwide legal measures to discourage the thefts. One solar power farm in Ichikawa, Chiba Prefecture, was hit by ...
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Workers in Central Asia made a “mammoth” discovery earlier this month. Laborers came across the bones of an ancient mammoth while quarrying on June 2. In a press release, Kyrgyzstan’s Ministry of Culture explained that the remains were found in “the sandy areas of the ancient floodplain of the Jyrgalang River.” Kyrgyzstan is a landlocked country surrounded ...
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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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On 6 June, the European Central Bank (ECB) implemented its first rate cut in five years, reducing the interest rate by 25 basis points to 3.75%, despite higher-than-expected inflation figures from May. This move followed a similar rate cut by the Bank of Canada which reduced its interest rate by 25 basis points just a day earlier. These cuts reflect Western ...
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Copper Search (ASX: CUS) has commenced the hunt for new district-scale copper opportunities, with the winter 2024 drilling program underway at its Peake project in South Australia. Backed by a recent capital raising, Copper Search has started a two-hole diamond core program at the Peake project, located in the prolific Gawler Craton. The program is expected ...
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That’s the title of a Timiraos/WSJ article three days ago: Typically in the recovery from a downturn, households are more cautious about spending and are likely to save. When ...
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US stocks shrugged off early weakness driven by the right-regime-shift in European elections, treading water on Monday, at least on the surface, following Friday's strong Payrolls ...
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The Federal Open Market Committee blackout period has mercifully spared the public from the cacophony of Fed-speak for nearly two blissful weeks. US Federal Reserve communications ...
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China's Major State-Owned Banks Seen Selling Dollars For Yuan In Onshore FX Market To Stabilize Chinese Currency, Sources Say.
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post: PBoC Fixes USDCNY Reference Rate At 7.1135 (prev fix 7.1106 prev close 7.2480)PBOC sets USD/ CNY reference rate for today at 7.1135 (vs. estimate at 7.2724) The setting at 7.1135 is the weakest (for the CNY) since January 19 this year. PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%. • 4bn mature today. • A net drain of 2bn yuan in Open Market Operations (OMOs).
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Gold prices are trading very tentatively on the back of Friday’s sell-off. Gold futures fell more than 4% in response to the upside surprise in Friday’s US jobs data which saw traders pairing back their September easing expectations. Market pricing for a September cut had been sitting around the 60% mark ahead of the data and has now fallen back to around ...
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Silver prices returned to the upside on Monday, gaining 1.6 percent to trade at $29.85 per ounce at the time of writing. The commodity is making an attempt to return to the psychological support level of $30 per ounce, which it broke on Friday following the release of US Nonfarm Payrolls data. XAGUSD drew a long bearish candlestick, losing 6.14 percent ...
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The Perth Mint sold 23,238 troy ounces (oz) of gold and 796,934 oz of silver in minted product form during May 2024. Opening the month around USD 2,300, the gold price in US dollar terms generally tracked flat before jumping higher by 1.5% off the back of weaker US jobs data which reinforced the potential for a Fed rate cut. On May 20 bullion hit a record ...