Metals News
- From kitco.com|2 hr 55 min ago
- From bnnbloomberg.ca|19 hr ago
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 ...
- From bnnbloomberg.ca|32 hr ago
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 ...
- From theconversation.com|Jun 7, 2024
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 ...
- From kitco.com|2 hr 55 min ago
Cryptocurrency and precious metals proponents are well-known for boasting about the ability of Bitcoin (BTC) and gold to serve as a hedge against government-induced inflation. According to one analyst, the performance of these assets is directly related to a sustained increase in money supply, but a ramp-up in the money supply is required to really prove ...
- From fxempire.com|5 hr ago
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 ...
- From bls.gov|11 hr ago|16 comments
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 percent in April and edged down 0.1 percent in March. (See table A.) On an unadjusted basis, the index for final demand advanced 2.2 percent for the 12 months ended in May. The May ...
- From think.ing.com|9 hr ago|2 comments
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 ...
- From econoday.com|8 hr ago
The BoE’s May MPC meeting saw Deputy Governor Dave Ramsden join long-term dove Swati Dhingra in calling for an immediate 25 basis point cut in interest rates. The other seven ...
- From bnnbloomberg.ca|11 hr ago
Euro-zone industrial production unexpectedly fell at the start of the second quarter, casting a shadow over the economy’s pickup this year from its poor performance in 2023. ...
- From bls.gov|11 hr ago|16 comments
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 ...
- From dol.gov|11 hr ago|7 comments
In the week ending June 8, the advance figure for seasonally adjusted initial claims was 242,000, an increase of 13,000 from the previous week's unrevised level of 229,000. The ...
- From @DeItaone|12 hr ago|7 comments
post: YELLEN: WE ARE CREATING JOBS AT A VERY RAPID PACE post:
U.S. TREASURY'S YELLEN: **LABOR MARKET NOW RESEMBLING PRE-PANDEMIC **WAGES ARE NOT A THREAT TO CONTRIBUTE TO INFLATION **A SIGNIFICANT SHARE OF REMAINING INFLATION REPRESENTS HOUSING COSTS RETURNING TO NORMAL SLOWLY post:
U.S. TREASURY'S YELLEN: SUBSTANTIAL LOCK-IN EFFECT IS LIMITING SUPPLY OF HOMES ON THE MARKET post: US TREASURY SECRETARY YELLEN: IF THE DEBT IS STABILISED RELATIVE TO THE SIZE OF THE ECONOMY, THEN WE'RE IN A REASONABLE PLACE.
- From fxempire.com|5 hr ago
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 ...
- From forex24.pro|22 hr ago|1 comment
The quotes of XAG/USD continue to move as part of the development of the correction and the formation of the “Wedge” reversal pattern. At the time of publication of the forecast, prices for Silver are 29.35. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a ...
- From fpmarkets.com|Jun 11, 2024
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 ...