1031 days ago
Investors are awaiting for key U.S. inflation report later this week, looking for clues on when the Fed will start tapering its asset purchases. In the meantime, gold is holding on its around-$1900 price. Even if no alarming announcement arise, the demand for safe-haven such as gold is likely to increase, as global tax and inflation worry are increasingly dominant.
1035 days ago
Food prices saw a sharp decline when the pandemic first hit, but they have been soaring ever since. Food around the world is now on average 27% pricier than the 2014-2016 average on which the base of 100 was measured.
1035 days ago
A potential pull back in central bank stimulus amid signs of the recovery resulted in gold losing some steam. USD and Treasury yields rising has pushed the timeline forward, a timeline that will see a tapering in bond purchases. Today, the ADP National Employment Report suggested 978,000 new jobs were added in May.
1036 days ago
Coal sees a spike in demand just as several major miners are hit with production issues, sparking a surge in prices from China to Europe and the US. China who burns half the coal in world refuses to accept coal from Australia amid a geopolitical spat. Aussie coal futures are still up as demand from Japan continues rise. Even with rising Chinese demand, IHS sees global consumption of seaborne thermal coal at least 55 million tons lower this year than in 2019 as major users like India battle the virus. While the market will be tight in the near term, there’s still ample capacity for later in 2021.
1036 days ago
WTI crude oil is pushing through 2-year resistance at $67, touching a 69 handle today in a sign that the price pullback might be over and another rally is on the cards. A drop back under the 67 level in the next few days would mean a false breakout and have bearish implications for the price.
