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- Written by ClemSnide
- Category: Commodities
Goldman Sachs raised their price forecast for gold on Friday in a note to customers on Coronavirus fear. $GS had previously cited Modern Monetary Theory to higher ETF inflows, Geopolitical risk, stronger emerging markets, weaker U.S. dollar and negative real interest rates in Europe .
- Details
- Written by ClemSnide
- Category: Commodities
Goldman Sachs raised their price forecast for gold on Monday night in a note to customers. $GS added Modern Monetary Theory to higher ETF inflows, Geopolitical risk, stronger emerging markets, weaker U.S. dollar and negative real interest rates in Europe as reasons.
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- Written by TradersCom
- Category: Commodities
The New Zealand ANZ commodity price index rose 4.3% in November, up sharply from a 1.2% gain in October. The rise was the larget gain since September 2016. Beef prices soared 19% m/m pressured by overseas supply constraints.
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- Written by Helmholtz Watson
- Category: Commodities
Iran is anticipating massive demand for its copper from Turkey in the coming years and is investing $1bn to expand copper production. Iran is opening one of the largest aluminum smelters in the Middle East with over $1bn in investment.
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- Written by TradersCom
- Category: Commodities
Less than 20 years after launching the Shanghai Gold Exchange has become the world’s largest physical gold exchange. This trend is set to continue with two new futures contracts connecting CME Group gold futures to Shanghai Gold Exchange having launched in October.
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- Written by ClemSnide
- Category: Commodities
Swine flu has reeked havoc on pork supplies around the world and has hit China very hard and has now spread to ten European countries. Chinese food prices in July jumped 9.1% consumer staples pork prices up 27% fresh and fruit prices up 39.1% from a year ago.
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- Written by ThePitBoss
- Category: Commodities
Nornickel, the world’s largest palladium producer, reported a huge jump in first half profit with higher palladium prices offsetting a decline in nickel, copper and platinum prices. expects a global palladium deficit of 600,000 troy ounces for 2019.
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- Written by Super Harley
- Category: Commodities
California is considered the world's largest marijuana market and it's legal cannabis market is currently on track to grow 23% in 2019 to $3.1 billion and to reach $7.2 billion in 2024, a 19% compound annual growth rate (CAGR) over the next five years.
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- Written by ThePitBoss
- Category: Commodities
China’s July food prices jumped 9.1% consumer staples pork prices up 27% fresh and fruit prices up 39.1% from a year ago. Overall, China’s consumer inflation rose 2.8% from a year ago and producer prices fell 0.3% from a year ago. Economists say there is no problem.
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- Written by ClemSnide
- Category: Commodities
Glencore PLC is closing its Mutanda mine in Congo, one of its largest copper and cobalt mines. Cobalt hit a peak of near $40 a pound in late 2017 and is now trading at around $12.50 a pound as trade war between U.S. and China hit commodity prices.
