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China’s gold market in April: investment demand remained strong

Key highlights: The Shanghai Gold Benchmark PM (SHAUPM) in RMB and the LBMA Gold Price AM in USD extended momentum in April, both capturing further rises Gold withdrawals from the Shanghai Gold Exchange (SGE) totalled 131t in April, a 7t rise m/m and a 10t increase y/y: robust investment demand offset gold jewellery weakness The [...] READ MORE

Could Redditors Trigger the Silver Squeeze 2.0?

This week, we explore a groundbreaking development in the financial world: one of the most influential names in central banking has revealed a purchase of shares in a Bitcoin ETF, signaling a big shift in the acceptance of digital assets by traditional financial powerhouses.   Additionally, the meme-stock craze appears to be back. Earlier this [...] READ MORE

Copper Short Squeeze in New York Is Rocking Metals Markets

A massive dislocation between the prices for copper traded in New York and other commodity exchanges has rocked the global market for the metal and prompted a frantic dash for supplies to ship to the US.   The source of the disruption is a short squeeze that has driven up prices on the Comex exchange [...] READ MORE

Gold, silver and platinum’s red-hot rally still has further to go, strategists say

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum in Munich. KEY POINTS Precious metal prices got a major boost Wednesday after softer-than-expected U.S. inflation data heightened the near-term prospect of rate cuts from the Federal Reserve. Gold prices on Wednesday settled at [...] READ MORE

Currency volatility: Will US dollar strength continue?

Key takeaways The prospect of fewer interest rate cuts in the U.S. has taken the dollar to new highs — and should underpin its resilience going forward. If the European Central Bank (ECB) cuts interest rates sooner than the Federal Reserve (Fed), this will widen the rate gap between the U.S. and the Eurozone, putting [...] READ MORE

An elite hedge fund bought 1 million GameStop shares before the meme stock’s 400% surge

Renaissance Technologies bought 1 million GameStop shares last quarter A top hedge fund built a GameStop stake from scratch last quarter ahead of the meme stock's surge. Renaissance Technologies' 1 million shares were briefly worth $65 million at Tuesday's high. RenTech, founded by the late Jim Simons, also boosted its AMC bet and pared Tesla [...] READ MORE

China Sells Record Sum of US Debt Amid Signs of Diversification

China sold a record amount of Treasury and US agency bonds in the first quarter, highlighting the Asian nation’s move to diversify away from American assets as trade tensions persist.   Beijing offloaded a total of $53.3 billion of Treasuries and agency bonds combined in the first quarter, according to calculations based on the latest [...] READ MORE

Why Buying a Car Is More Expensive Than Ever in the US

Pent-up demand left over from the pandemic is keeping sticker prices high even as factory production has returned to full strength. The cost of car ownership in the US surged after Covid shut down assembly lines and made vital semiconductors scarce. Then the Federal Reserve rapidly raised interest rates to combat high inflation, making car [...] READ MORE

‘Brothers Forever’: Putin, Xi Agree That Deepened Ties Project Stability Against West’s ‘Unilateral Hegemony’

Russian President Vladimir Putin is in Beijing visiting his Chinese counterpart Xi Jinping on the occasion of the 75th anniversary of the establishment of diplomatic relations between the two countries.   On the first day of the two-day state visit, which includes top Russian defense and security officials, Putin referenced Russia being "brothers forever" with [...] READ MORE