|Day's range||1,953.80 - 1,978.00|
(Bloomberg) -- Gasoline consumption in the US continues to increase as the summer driving season gets underway. Elsewhere, stockpiles of thermal coal at Chinese ports are on the rise, while surging copper inventories signal a softening market. Here are five charts to consider in global commodities this week.Most Read from BloombergMorgan Stanley Expects a Shock 16% US Profit Drop to Kill RallyOil Rises on Saudi Arabia’s Go-It-Alone July Production CutsOPEC+ Latest: Saudis Unveil Extra 1 Million
Franco-Nevada Corporation, Gold Fields Limited, AngloGold Ashanti and Alamos Gold are part of the Zacks Industry Outlook article.
The event will double the bitcoin production cost to around $40,000, creating a positive psychological effect, the report said.
U.S. stocks are seen opening in a mixed fashion Monday, stabilizing after a broad-based rally as investors digest more economic data with next week’s Federal Reserve policy-setting meeting in mind. At 06:50 ET (10:50 GMT), the Dow futures contract was up 30 points, or 0.1%, S&P 500 futures traded 2 points, or 0.1% higher, while Nasdaq 100 futures dropped 23 points, or 0.2%. The main Wall Street indices closed firmly higher on Friday, following strong jobs data and after Congress passed a bill to lift the federal debt ceiling, signed into law by President Joe Biden over the weekend, thus averting a default which would have had economically disastrous repercussions.
One exploration group abandons country because of ‘political instability’ as warnings rise of legal challenges
European stock markets edged higher in cautious trade Monday as investors focused on future central bank policies and a deluge of economic data. U.S. President Joe Biden signed on Saturday a bill suspending the debt limit until the start of 2025, removing the possibility of the U.S. defaulting on its debt obligations, a key source of anxiety for financial markets over the past month. With this in mind, attention turns fully back to what the European Central Bank, and the U.S. Federal Reserve, will decide upon in terms of interest rate hikes in the months ahead as growth slows.
ALSO: The bitcoin options put/call ratio across exchanges has sunk to 0.47, suggesting that fewer investors are seeking downside protection against price declines than they had prior to the passage of a bill to raise the U.S. debt ceiling.
Investing.com -- Gold prices fell slightly on Monday amid uncertainty over whether the Federal Reserve will hold interest rates steady later this month, while concerns over weakening economic growth pulled copper prices down.
By the time you read this, OPEC would have probably decided, even announced, new production levels meant to seize pricing of oil back from the hands of short-sellers who’ve driven the group nuts this year in trying to keep a barrel at $80 or more. Oil revenue is the lifeblood of the economies in OPEC, or the Organization of the Petroleum Exporting Countries, a 13-member Saudi-led group whose main objective is to be the price-setter of the commodity. Ten other oil-producing states, including Russia, that aren’t OPEC members also keep their output closely in line with the group’s for the sake of price.
(Bloomberg) -- From Australian mining behemoths to Florida theme parks, investors are betting on whether companies will benefit or take a hit as extreme weather becomes the norm around the world due to climate change. Most Read from BloombergOPEC+ Latest: Saudis Unveil Extra 1 Million Barrel CutOil Rises After Saudis Pledge Million-Barrel Cut at OPEC+ MeetUS-China Handshake Fails to Stem Asia’s Fear of Another UkraineQatar Airways Plans for Future Without First Class on Long-HaulAmazon Is in Tal
Kinross Gold (KGC) closed at $4.85 in the latest trading session, marking a -0.82% move from the prior day.
Ether and other major cryptos spent much of the day in positive territory.
It might be of some concern to shareholders to see the Aya Gold & Silver Inc. ( TSE:AYA ) share price down 10% in the...
With gold prices gaining so far this year and demand expected to be strong, the near-term outlook of the Zacks Mining - Gold industry looks promising. One can watch stocks like FNV, GFI, AU and AGI, backed by their growth prospects.
Investing.com -- The U.S. debt ceiling deal is done but gold isn’t quite dead yet, as some had been speculating.
The Swiss firm aims to allow financial institutions and corporates to issue tokenized assets on the Ethereum layer 2 network.
The latest price moves in bitcoin (BTC) and crypto markets in context for June 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
U.S. stocks are seen opening higher Friday as investors cheer the passage of the debt ceiling bill through Congress ahead of the release of the keenly-anticipated monthly jobs report. At 07:00 ET (11:00 GMT), the Dow Futures contract was up 165 points, or 0.5%, S&P 500 Futures traded 20 points, or 0.5%, higher and Nasdaq 100 Futures climbed 55 points, or 0.4%. The U.S. Senate approved on Thursday a deal to raise the country's borrowing limit, following on from the lead of the House of Representatives the previous day after weeks of partisan strife.
ALSO: BTC-20 tokens are pushing toward a $500 million market cap, and data from Glassnode shows that they have been a boon for miners.
USDT has reached a $83.2 billion market capitalization, recovering all its losses since the implosion of blockchain project Terra more than a year ago.
BTC and ether both lost ground in May, the first monthly decline of 2023. LTC and RNDR were among the month’s big gainers.
Investing.com -- Gold and copper prices edged lower in Asian trade on Friday as markets hunkered down ahead of key nonfarm payrolls data for more cues on the U.S. economy, although both metals marked a strong recovery from recent lows this week.
The elections in Turkey and subsequent ministry approval to resume gold bar dore production led to a great week for Centerra investors.
The dollar has remained mostly steady pre-NFP as the majority consensus shifted back to a hold on 14 June.
Investing.com -- Gold futures popped above $2,000 an ounce on Thursday, the first time in two weeks, and settled not far from there as the yellow metal looked poised for its best weekly return since March as the dollar tumbled on weaker U.S. employment and manufacturing data that suggested a rate hike pause in the next two weeks.