This is a quiet stretch for US data, wedged between a softer payrolls report and the June inflation release on July 14. Takeaways Gold does not need rate cuts to work here. It only needs the market to keep trimming the odds of further Fed hikes. July 14 CPI is the near-term catalyst. Lower gasoline prices could soften the headline and extend the …
Continue ReadingSix months after Operation Epic Fury upended the metals complex, the Strait of Hormuz still can’t decide if it’s open. Days after the two countries signed a memorandum of understanding on June 17, Iran’s military declared the strait closed again, only for Iran’s own foreign ministry to tell state media shipping was “operating normally.” Under that same agreement, Washington has until July 19 to fully …
Continue ReadingMiners, battery makers and traders outside China can now trade lithium carbonate futures and options on the Guangzhou Futures Exchange. Beijing has unveiled new measures to keep its tight grip on lithium prices, in a move that may give it an edge over the US in the key material vital for electric vehicle and energy storage. Following mining endeavours worldwide …
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