Metals News
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An armed robber disguised as a pensioner made off with £2.5million worth of jewellery after he pulled a gun on the cashier at a luxury watch store in Monaco. The crook appeared to be wearing a latex mask, and donned a suit and flat cap to make him look like an old man and conceal his identity - fooling unsuspecting passersby as he held up the shop. The ...
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One of the largest surviving gold nuggets found in the western hemisphere is a breathtaking nugget named The Boot of Cortez. It is an amazing piece of gold, weighing in at a massive 389.4 troy ounces. In 1989, an amateur treasure hunter in Mexico purchased an entry-level metal detector at a local Radio Shack and ventured out into the forbidding Sonoran ...
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Fibonacci retracements are one of the most popular tools employed by financial market traders to predict possible price movements in the future. The tool was developed from Fibonacci numbers sequence, which follows a certain sequence from zero and build up in a certain way each number is the sum of the two numbers before it. The Fibonacci sequence is as ...
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Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement. Governing Council decided monetary policy no longer needs to be as restrictive and lowered the policy interest rate by 25 basis points to 4.75%. We’ve come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the 2% target has increased over recent months. The considerable progress we’ve made to restore price stability is welcome news for Canadians. Since our Monetary Policy Report in April, underlying inflation has continued to ease and economic growth has resumed. With the economy in excess supply, there is room for growth even as inflation continues to recede. Let me provide a little more detail about these dynamics. After stalling in the second half of last year, economic growth picked up in the first quarter of this year. At 1.7%, growth was lower than projected in the April report. But consumption growth was solid at about 3%, and business investment and housing activity also increased. In the labour market, businesses are continuing to hire workers. Employment has been growing, but at a slower pace than the working-age population. This has allow post: BoC’s Macklem: Timing Of Further Cuts Depends On Data, Will Be Taking Decisions One Meeting At A Time post: *MACKLEM: PATH OF INTEREST RATES LIKELY TO BE GRADUAL post: *MACKLEM: DON'T NEED TO MOVE IN LOCKSTEP WITH FEDERAL RESERVE post: BoC’s Macklem: There Are Limits To How Far BoC Can Diverge From Fed; Currently Not Close To Limits
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In May, the gold price climbed towards $2450, above the peaks of April, but failed to consolidate near all-time highs. During the last two weeks, the price has changed in the range of $2330-2360, with a slight downward trend, which can be seen on the daily candlestick charts. Right now, Gold has dropped to support in the form of the 50-day moving average, ...
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One of the largest surviving gold nuggets found in the western hemisphere is a breathtaking nugget named The Boot of Cortez. It is an amazing piece of gold, weighing in at a massive 389.4 troy ounces. In 1989, an amateur treasure hunter in Mexico purchased an entry-level metal detector at a local Radio Shack and ventured out into the forbidding Sonoran ...
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There is universal anticipation that the Bank of Canada (BoC) will reduce its policy rate by 25 bps at its upcoming gathering on Wednesday, June 5. It will be the first rate cut ...
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Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers answer reporters’ questions following the policy rate decision.
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The US services sector expanded in May by the most in nine months, powered by the largest monthly gain in a measure of business activity since 2021. The Institute for Supply ...
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Private sector employment increased by 152,000 jobs in May and annual pay was up 5.0 percent year-over-year, according to the May ADP® National Employment ReportTM produced by the ...
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Economic activity in the services sector grew in May after contracting in April for the first time since December 2022, say the nation's purchasing and supply executives in the ...
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The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. The global economy grew by about 3% in the first quarter of 2024, broadly in line with the Bank’s April Monetary Policy Report (MPR) projection. In the United States, the economy expanded more slowly than was expected, as weakness in exports and inventories weighed on activity. Growth in private domestic demand remained strong but eased. In the euro area, activity picked up in the first quarter of 2024. China’s economy was also stronger in the first quarter, buoyed by exports and industrial production, although domestic demand remained weak. Inflation in most advanced economies continues to ease, although progress towards price stability is bumpy and is proceeding at different speeds across regions. Oil prices have averaged close to the MPR assumptions, and financial conditions are little changed since April. In Canada, economic growth resumed in the first quarter of 2024 after stalling in the second half of last year. At 1.7%, first-quarter GDP growt post: Bank of Canada: "With continued evidence that underlying inflation is easing, ... monetary policy no longer needs to be as restrictive." "Recent data has increased our confidence that inflation will continue to move towards the 2% target." post: BOC'S GOV. MACKLEM: IT IS REASONABLE TO EXPECT MORE RATE CUTS IF INFLATION CONTINUES TO EASE. post: BOC'S GOV. MACKLEM: WE ARE TAKING OUR RATE DECISIONS ONE MEETING AT A TIME.Bank of Canada Rate Cut: How It Alters The Housing Market It happened. The Bank of Canada finally lowered its overnight rate. It was a characteristically cautious reduction — 5% to 4.75% — but as the Bank’s first rate cut in over four years, it brings with it a certain sense of cloud-parting. “With continued evidence that underlying inflation is easing, Governing Council agreed that monetary policy no longer needs to be as restrictive and reduced the policy interest rate by 25 basis points,” the Bank of Canada stated in a press release. A lower overnight rate means most lenders will be rolling out slightly lower prime rates in the next 24 hours. Expect softer variable rates on personal loans, certain credit cards and the two-trillion-dollar elephant in the room, mortgages. What will a modest reduction in variable rates mean for the housing market? We won’t really know until there’s a few months’ worth of data to chew on, but here are the likeliest scenarios.
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Silver not only plunged below $30 and its 2021 high – it also closed there. In other words, the market confirmed what I wrote in yesterday’s analysis. Silver likely topped in a similar manner as it did in 2011, however, if the stock market slides this time, the fall in silver prices could be much bigger, and the same goes for mining stocks. Let’s stay with ...
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In May, the gold price climbed towards $2450, above the peaks of April, but failed to consolidate near all-time highs. During the last two weeks, the price has changed in the range of $2330-2360, with a slight downward trend, which can be seen on the daily candlestick charts. Right now, Gold has dropped to support in the form of the 50-day moving average, ...
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CME Group, the world's leading derivatives marketplace, today reported its May 2024 market statistics set a new average daily volume (ADV) record of 26 million contracts for the month, up 4% from May 2023. The company's interest rate and metals products also reached May ADV records, as its deeply liquid U.S. Treasury complex hit a new single-day record of ...