Gold has overtaken U.S. Treasuries among central banks’ favored reserve assets — underscoring a dramatic shift in how governments are protecting their national wealth, the Financial Times reports. But the development does not mean the dollar has lost its position at the center of the global financial system. Far from it. US DOLLAR STILL RULES The U.S. dollar still accounts for …
Continue ReadingCopper climbed toward $14,000 a ton and aluminum advanced to its highest in more than four years as the unresolved conflict in the Middle East and optimism over demand powered gains. Base metals have made a strong start to June, fueled by bets on tighter global supply. Aluminum availability is under pressure as the U.S. struggles to resolve its war …
Continue ReadingGovernment support for rare earths projects will remain necessary for years as Western countries work to counter China’s long-standing dominance of the sector, industry leaders said at the AFR Mining Summit in Perth last week. There has been growing debate over state intervention in critical minerals markets, but speakers agreed rare earths remain a special case because of decades of …
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