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A sharp rise in the price of palladium has caused the appearance of a “bubble”, Anglo American CEO, Mark Cutifani, said during the Financial Times Commodities Global Summit in London. At the same time, Cutifani does not expect its steady decline in the market in the foreseeable future, although he believes that automakers may in the future abandon palladium and switch to cheaper platinum when creating new car models. When this happens, the cost of platinum will increase significantly. According to the Financial Times, palladium over the past 7 months has risen in price by more than 80% to 1 thousand 522 dollars 49 cents per troy ounce. On Thursday, the cost of palladium fell by 2.4%, amounting to 1 thousand 418 dollars 53 cents per ounce, after falling more than 5% on Wednesday.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
On Monday, California's Governor Gavin Newsom ordered restrictions on bars, dine-in restaurants, gyms, and even ordinary offices across the state to shut down as coronavirus cases continue to climb which dims the economic growth of the United ...
June had seen Japan’s wholesale prices dropping slower than May’s historic decline. This followed as commodity costs advanced and some of the virus-driven deflationary pressure eased on a rebound monitored in Chinese demand. The ...
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