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 …
Continue ReadingThe precious metals complex is proving resilient in the face of intensifying macroeconomic headwinds and ongoing uncertainty over the direction of the conflict in the Middle East. Prices for gold, silver, platinum and palladium fell below key psychological levels this week on the back of hawkish interest rate signals for this year and next, as well as surging treasury yields and a stronger greenback. …
Continue ReadingWhen China broke out one of its “big guns” in last year’s trade war with the US – an array of export controls on rare earth elements – it helped spur a temporary truce in the pitched conflict between the two economic superpowers. After Beijing’s announcement, many around the world expressed shock at the size and scope of China’s response …
Continue ReadingJapan’s aluminium market is facing growing uncertainty as escalating tensions in the Middle East begin disrupting one of the country’s most critical supply routes for the metal. For years, Japan has relied heavily on Gulf producers such as the United Arab Emirates and Saudi Arabia, with the region supplying around 20 per cent of the country’s raw aluminium imports thanks …
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