Gold’s 9% rebound in August to around $4 400 an ounce suggests bullion is starting to regain favour with institutional investors and central banks, leaving the market better placed to extend gains.
China’s sulphuric acid exports plunged more than 99% in June following a move to halt overseas shipments, leaving Chile and Indonesia, its two biggest buyers last year, without any cargoes, customs data.
Iran expects to restore around 100-million cubic metres a day of natural gas production capacity within the coming months, a senior government official said on Monday according to the oil ministry’s Shana.
China’s lithium futures prices sank to a five-month low on Tuesday on expectations of oversupply of the electric vehicle battery metal in 2027, even as near-term demand remained strong, according to analysts.
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The US Department of Defense is buying lithium for its strategic stockpiles as the nation ramps up efforts to reduce supply risks for critical minerals.
The Defense Logistics Agency (DLA) is seeking offers.
In its latest gold appraisal, industry body the World Gold Council says the performance of the gold price in the first half of this year has underscored a sensitivity to shifting macroeconomic.
The European Commission unveiled quotas under the new system to limit duty-free steel imports into the European Union, in a move designed to protect the bloc’s steel sector and increase its capacity.
Oil prices rose on Monday following days of tit-for-tat strikes by the US and Iran that underscored the fragility of their interim peace deal and again slowed energy shipping through the Strait.
Dubai’s commodities exchange will launch a same-day settlement gold contract on Monday, its CEO revealed, aiming to tap safe-haven demand and faster trading infrastructure to boost liquidity in the emirate’s bullion market.
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Gold prices fell to a two-month low on Thursday as fresh US attacks on Iran boosted the dollar and pushed oil prices higher, stoking concerns about rising inflation and clouding the interest.
