Cocoa has enraptured the world. It has done so since the first Europeans arrived in America. Today, the commodity is in use not only in the production of sweets but also in some beauty products. Its consumption, which reaches 4.7 million tons a year worldwide, has continued to grow. Cocoa production reaches 4.8 million tons …
African cocoa laborers earn less than a dollar a day Read More »
Silver mining production increased by 2% in 2015. This year, the silver mining supply was led by Mexico and Peru. Here are the Top 10 silver mining countries: Mexico Peru has the most significant silver mining reserves in the world. However, Mexico has been a leader in metal production. The country’s silver mining output increased by …
Top 10 silver mining countries and sources of demand Read More »
The Covid-19 pandemic has altered the forecasts made by various analysts, banks, and precious metal companies during the last months of 2019. MKS is a Swiss precious metals refinery PAMP parent company. It has just published a report with the revision of the forecasts made in January 2020. Frederic Panizzutti, its author and a managing …
MKS raises its forecasts for gold and silver prices Read More »
Silver is experiencing a rather complicated first half of 2020. It is a precious metal, functioning as a haven. However, its status as an industrial raw material has caused its price to suffer due to the coronavirus slowdowns. Still, the economic recovery will positively impact its price from next year onward. According to a Bank …
India has absorbed 18% more rain in June than the average in other years. The monsoon covered the entire country almost two weeks earlier than usual, according to sources from the Indian Meteorological Department. Monsoons generate around 70% of India’s annual rainfall. They are the country’s lifeblood, stimulating agricultural production and driving rural spending on …
Oil prices rose around $1 a barrel on Monday after encouraging data in Asia and Europe. However, investors remain cautious about sharp increases because of new coronavirus infections globally. The Benchmark Brent rose 69 cents, or 1.68%, to $41.71 a barrel, while West Texas Intermediate in the United States (WTI) gained $1.21, or 3.14%, at …
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 …
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 …
An earthquake closed Mexico’s largest oil refinery Read More »
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 …
The price of copper reached its highest level since January Read More »
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, …
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 …
Unstoppable gold in the face of new Covid-19 infections Read More »
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 …
The IEA ups its forecast for oil – the worst is over Read More »
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 …
Switzerland exports a record amount of gold to the US Read More »
Silver will drop in price in the short term, according to Georgette Boele, a well known Dutch analyst of the precious metal market at FXStreet. Specifically, the precious metal’s prices will drop in a short time. However, in the very long run, it is possible for the rise in the price of the metal to …
The price of silver will exceed that of gold in the long run Read More »
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 …
Gold Maintains Positions Despite Dollar Recovery Read More »
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