Fri, March 29, 2024

Commodities

Silver prices up

Silver’s price is ready for a rebound

Analysts argue that the global supply of silver mining production will increase in the medium term. Improvements and operational expansions overshadow the depletion of reserves. However, the forecasts for global recycling will be mixed.  On the demand side, increased battery and hybrid electric vehicles’ production will mean a higher silver load than traditional internal combustion …

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Mexico and the gobal economy

An earthquake closed Mexico’s largest oil refinery

Mexico’s National Petroleum Corporation says the Salina Cruz oil refinery has shut down due to an earthquake and a fire. The fire was quickly extinguished. However, the refinery is temporarily closed to prevent possible dangers. An earthquake of magnitude 7.4 killed at least four people on Wednesday. The location of the epicenter was in the …

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Copper Prices Rise and Rise Strongly

The price of copper reached its highest level since January

The price of copper has touched $2,675 per pound this week, the highest since January 27, when it reached $2,677 per pound. However, it has subsequently deflated. The second quarter of the year has been profitable for copper. The metal saw a sharp decline in March after the coronavirus outbreak in Europe. The price of …

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Crude Oil Prices slump, US stocks grow

Oil was shattered in response to a US statement

Oil prices fluctuated in trading on Tuesday after the White House trade adviser unexpectedly commented on China’s agreement. The US-China trade agreement has ended, is what he said. Although these statements were withdrawn later, the markets were terrified.  Brent crude dropped seven cents, or 0.1 percent, to $43.1 a barrel. WTI crude lost 14 cents, …

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Spot price of gold is on the rise

Unstoppable gold in the face of new Covid-19 infections

Gold moved to its highest level since 2012, fueled by concerns about the second wave of the coronavirus infections in the United States and Germany. In other news, the release of details about a proposed national security law from China caused a growing uncertainty in Hong Kong. Coronavirus cases increased in the United States, a …

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Crude Oil

The IEA ups its forecast for oil – the worst is over

The International Energy Agency (IEA) has revised its forecast upwards for world oil demand in 2020. It estimates an average of 91.2 million barrels per day, representing a drop of 8.6% compared to 2019. This is the most significant drop in history. However, compared to the previous forecast, it’s an improvement of 690,000 barrels a …

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Wibest – Spot Gold: Gold bars.

Switzerland exports a record amount of gold to the US 

Switzerland exported 126.6 tons of gold to the United States, worth around $7 billion, last May. It is the highest monthly shipment ever recorded. This is because the high prices in New York continued to attract demand for the metal. Swiss shipments to China and India, generally the world’s two largest gold buyers, stayed very …

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gold prices today edged 0.1% higher to $1,572.01 per ounce in global markets

Gold Maintains Positions Despite Dollar Recovery

Gold was operating relatively flat on Tuesday after having overcome several bearish attempts. The publication of good data on US retail sales and progress towards a vaccine against COVID-19 has harmed market sentiment. Beijing officials also reported new coronavirus cases.  The United States government reported an increase in retail sales of 17.7% in May, well …

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The copper price hasn't been so low for the last four years

Copper rises, Fed stimulus unleashes buying wave

Copper prices rose on Tuesday after Federal Reserve announcements. More support towards the US economy helped boost copper market sentiment. However, there are doubts about this development since the chances of demand in China are not high.  Three-month copper values on the London Metal Exchange (LME) gained 1.5% at $5,790 a tonne. Values ​​for the …

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Given the uncertainty about the coronavirus, copper prices surge

Copper hits its highest price since January

Copper prices increased for the fifth straight session on Wednesday, to their highest levels since January. Steady demand and a better technical scenario supported the metal. Over three 3 months, copper, on the London Metal Exchange (LME), gained 2.1% at $5,893 a tonne, after earlier climbing to $5,913.50, its highest since January 24. Ole Hansen, …

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Spot price of gold along the silver is on the rise

Gold surges on Fed decision to keep rates at zero until 2022

Gold prices reacted, increasing, due to the Federal Reserve‘s decision not to raise interest rates until 2022. This means the interest rate will remain at its current state, around zero. Low prices are usually favorable for gold because they reduce the returns on other financial assets with which it competes in favor of investors, such …

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gold prices today edged 0.1% higher to $1,572.01 per ounce in global markets

Gold gains as the Federal Reserve starts June’s FOMC meeting

Gold registered some gains on Tuesday since global stock indexes paused recent rallies. On the other hand, a weakened US dollar is supporting gold bulls. August gold futures increased by $15.90 an ounce to $1,720.70.  US stock indexes are getting some pull-backs from recent substantial benefits. The investor and trader sentiment remains positive. According to …

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