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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Gold prices are facing new headwinds from a stronger U.S. dollar and weaker Chinese demand, but the yellow metal will resume its rally once the Fed begins cutting rates, according to Ewa Manthey, Commodities Strategist at ING. Manthey noted that gold prices have already fallen by 5% from the new all-time high above $2,450 set in May following the release of ...
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The European Union is expected to reveal its tariff rate plan for Chinese electric vehicles this week, as the bloc cracks down on low-priced, subsidized imports. The EU has a standard 10% duty on imported EVs, but is set to provisionally raise those fees for Chinese EVs starting July 4. Citi analysts on Monday said the tariff rate could be “hiked to ~25-30% ...
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Wednesday is shaping up to be one of the most important days of the year for economic news, as investors will hear about the path of inflation and the manner in which the Federal ...
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French President Emmanuel Macron is taking the bull by the horns. On Sunday evening, after being roundly defeated in the European elections, Macron announced a new election for ...
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Singapore is set to become a leading gold hub as trading shifts east, according to the World Gold Council. One key reason is that gold consumption in major emerging economies is ...
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Total nonfarm payroll employment increased by 272,000 in May, and the unemployment rate changed little at 4.0 percent, the U.S. Bureau of Labor Statistics reported today. ...
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French President Emanuel Macron said Sunday he was dissolving the National Assembly and calling a snap legislative election after his party suffered a heavy defeat in elections ...
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Gold miners were just the most overbought since 2020, and it seems that they topped just like back then. At least, that’s what the Gold Miners Bullish Percent Index is suggesting. It’s a breadth indicator based on the number of stocks with Point & Figure buy signals (a Point & Figure chart emphasizes strong moves while ignoring small ones). The closer the ...
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Gold XAUUSD was rejected at the minor resistance at around 2,384. That level is the 0.382 retracement of the early May uptrend (red lines). Gold sold off down below key support at around 2,314, establishing a downtrend (lower lows and lower highs). However, the RSI is still showing positive sentiment and is required to close below the 40 threshold to switch ...
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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 ...