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Gold, copper slump

April 7, 2025

Gold, copper and other metals tumbled on Monday, extending declines in a brutal market-wide selloff as US President Donald Trump’s broadening trade war batters the prospects for the global economy.

Bullion, which has repeatedly touched record highs in recent weeks, fell as much as 2.2 per cent to below $US3000 an ounce, while copper dropped as much as 7.7 per cent in London, the most in five years.

Copper prices had been surging as traders warned that threatened tariffs on the metal would squeeze global supplies. Now, collapsing equity markets, further punitive tariffs across a swathe of countries and retaliatory measures from China have prompted much larger fears around global demand. Friday’s sell-off on the London Metal Exchange was the biggest since March 2020.

Although gold typically benefits from periods of upheaval – and remains 14 per cent higher this year – it can be sold during extreme market dislocation as investors seek to cover losses elsewhere.

Gold declined 1.9 per cent to $US2979.73 per troy ounce at 8.15am Singapore time. Copper was 7.2 per cent lower at $US8150 a tonne, while nickel lost 5.5 per cent to $US13,945 a tonne. Iron ore in Singapore fell 3.6 per cent to $US97 a tonne, a three-month low.

Gold via Grok

The current price of gold, as of October 9, 2024, varies slightly based on different reports but centers around $2,620 per ounce. Here's a brief overview based on the latest information:

Price Range: From reports, gold has been mentioned between $2,607 to $2,620 per ounce, indicating a slight dip or stabilization after recent movements in the market.

Market Sentiment: There's been a notable interest in gold, with some investors and analysts suggesting potential for significant further increases due to various economic factors, although not all posts align on this future price prediction.

Factors Influencing Price:

US Dollar Strength: A stronger US dollar can put downward pressure on gold prices as gold is often priced in dollars.

Economic Policies: Speculation around monetary policies, like the possibility of rate cuts or economic stimulus, influences gold's appeal as a hedge against inflation or economic uncertainty.
Market Volatility: Gold often sees buying interest during times of market volatility or when investors seek safe-haven assets.

Investor Speculation: There's a mix of sentiments, with some X posts suggesting gold could reach much higher valuations, potentially up to $5,000 to $6,000 per ounce, reflecting a very bullish long-term outlook based on economic trends and inflation fears.

Given this information, if you're considering investment or are curious about market trends:

For Immediate Purchase: If you're looking to buy gold now, prices around $2,600 to $2,620 per ounce seem reasonable based on current market data.

Investment Strategy: Gold's role as a hedge against inflation and currency fluctuations suggests it might be a good time to consider gold as part of a diversified investment portfolio, especially if economic indicators continue to show uncertainty or inflationary pressures.

Market Watch: Keep an eye on economic releases like CPI and PPI data, as well as any significant policy changes from major economies, which can sway gold's price in the short term.

Remember, while there's a general sentiment around gold's value increasing over time, especially in turbulent economic climates, short-term prices can be volatile due to various global financial events. Always consider your investment strategy in light of your overall financial goals and risk tolerance.

Gold News

Gold Bullion Hits New Record High

Metals And Resources via Media Man Group

February 22, 2025

The price of gold reached a new all-time high this week as uncertainty about the impact of US tariffs on the global economy spurred purchases of the safe-haven asset.

Central banks, particularly in emerging markets such as China and India, have been increasing their gold reserves, reflecting a growing lack of confidence in the US dollar and a move towards diversifying away from it.

Gold hit a record $2,954.69 per ounce on Thursday but pulled back during Friday’s session as investors secured their profits.

Analysts see gold prices continuing to rise, with Goldman Sachs predicting a climb to $3,100 per ounce and UBS suggesting a possible peak of $3,200.

Goldman cited increased central bank demand, while UBS mentioned factors like bullish sentiment and FOMO (Fear Of Missing Out), which can be a very dangerous game with many commodities - but not so much Gold!

"After missing several (brief/ shallow) buying opportunities in 2024, investors are likely wary of repeating the same patterns and may want to take advantage of corrections sooner this time around,” UBS analysts scribed in a note to clients.

News Roundup Under The Watercooler

21 Feb 2025

Aftermath Silver Ltd advised investors it was “honored” to be ranked 32nd in the 2024 TSX Venture 50, a list of the top-performing companies on the TSX Venture Exchange over the past year.

The TSX Venture 50 highlights the strongest performers among more than 1,600 TSXV-listed companies.

21 Feb 2025

TNR Gold Corp told shareholders that Ganfeng Lithium has officially commenced production at the Mariana Lithium salt-lake project in Argentina, marking a significant milestone for the company, which holds a 1.5% net smelter return (NSR) royalty on the project.

Ganfeng, one of the world's leading lithium producers, held a ceremony last week, to celebrate the start of formal production at the first phase of the Mariana project.

21 Feb 2025

Midnight Sun Mining Corp announced that it has been named to the 2024 TSX Venture 50, an annual ranking that highlights the top-performing companies on the TSX Venture Exchange.

The selection is based on one-year share price appreciation, market capitalization growth, and Canadian consolidated trading value.

20 Feb 2025

Solis Minerals Ltd has rapidly discovered four new copper-gold targets at the Chocolate Project in the Peruvian Coastal Copper Belt, identifying two new copper porphyry and two vein-hosted iron-oxide copper-gold (IOCG) targets.

The firm used geochemical assays of rock samples to identify each target zone, with analysis done by ALS Global laboratories in Lima, Peru.

20 Feb 2025

West Wits Mining Ltd has inked a credit approval term sheet for a senior debt syndicated loan facility of up to ZAR 902.5 million (about US$50 million) subject to final loan documentation and conditions precedent.

The credit facility will be used to develop the Qala Shallows Gold Project in South Africa as the first phase of development for its greater Witwatersrand Basin Project.

20 Feb 2025

Alkane Resources Ltd has delivered a golden set of results for the half-year ending December 31, 2024, highlighted by company profit after tax of $13,157,000, an increase of $731 million or 6% on the same period 12 months earlier.

This was largely driven by higher sale prices of $3,498 per ounce, a 20% increase on the previous period, and improved production at the Tomingley Gold Operations (TGO) in New South Wales, Australia, of 33,270 ounces, a 15% lift.

19 Feb 2025

UBS has identified Endeavour Mining PLC as being at a “free cash flow inflection” point, maintaining its ‘buy’ rating and setting a price target of £20 per share.

The bank argues that improving cash flow and debt reduction could help narrow the valuation gap between Endeavour and its peers in the gold sector.

19 Feb 2025

Caledonia Mining Corporation PLC said chief financial officer Chester Goodburn is to step down on March 24 after overseeing the company’s full-year results. He will be replaced immediately by Ross Jerrard, subject to routine checks.

Goodburn, who has been CFO since July 2022, will stay on briefly as a consultant to ensure a smooth handover.

19 Feb 2025

Additional metallurgical test-work by Titan Minerals Ltd has confirmed previous ore processing outcomes with recoveries of 85-88% for gold and 70-75% for silver from the Dynasty Gold Project in southern Ecuador.

Recoveries of gold from oxide ore material which extends from surface at the Cerro Verde prospect confirm and validate historical recoveries from previous open pit mining which was trucked and processed at the Svetlana 1 Plant in 2018 and 2019.

19 Feb 2025

When Aftermath Silver Ltd first acquired the Berenguela project in 2020, a silver-copper deposit located in south-eastern Peru, its focus was primarily on its silver resources. A polymetallic carbonate-replacement deposit spanning nearly 6,600 hectares and small-scale production in the early twentieth century, the project fit well within Vancouver-based Aftermath’s goal to assemble one of the largest portfolios of silver development assets.

And then came the manganese. While the company originally acquired its project with a focus on silver, CEO Ralph Rushton said a growing focus on manganese, coupled with advancements in metallurgical processing technology, has significantly increased the project’s potential.

19 Feb 2025

Midnight Sun Mining Corp announced the termination of its earn-in agreement with KoBold Metals Company for the Dumbwa Target in Zambia, retaining full ownership of the asset.

The company now plans to launch a 2025 exploration program at Dumbwa, a key target on its Solwezi Project.

19 Feb 2025

The price of gold should climb to $3,100 or even $3,200 an ounce, strategists at Goldman Sachs and UBS have predicted, from $2,900 on Tuesday morning.

Goldman Sachs raised 2025 forecast to $3,100, citing higher central bank demand, while UBS mooted the possibility of seeing a high of over $3,200 this year, "before prices gradually ease and stabilise at elevated levels over the next few years".

18 Feb 2025

Cobalt Blue Holdings Ltd has proposed a name change in line with its diversification strategy, proposing to rename Core Blue Minerals Ltd on the back of an earn-in agreement with AuKing Mining Ltd for the Halls Creek Project.

Halls Creek in Western Australia's north is a large-scale copper, lead, zinc, silver and gold project with significant cobalt potential.

17 Feb 2025

Pantoro Ltd has had a strong start to an extensive growth-focused drilling program at the Norseman Gold Project in Western Australia, striking very high-grade gold up to 1 metre at 1,420 g/t gold in drilling at the Mararoa reef, within the Southern Mainfield reef system.

Drilling to date has focused on four key quartz reefs, which include Mararoa as well as the Butterfly Northwest structures, Royal Standard Reef and Pascoe’s Cross Link structure, close to the existing underground Viking Decline.

Gold, Rare Metals, Crypto, Mining: Australia and Global

February 23/24, 2025

All That Glitters: Gold: The Real Thing! Real Record Nears!

Crypto Is Often But Not Always Digital Gold: Media Man Group

February 23, 2025

Gold holds near record high

Gold traded a whisper away from last week’s all-time high as unexpectedly weak economic data and rising expectations for inflation helped boost haven demand. Bullion was around $US2937 an ounce, after notching its eighth weekly gain – the longest run since 2020. Gains have been supported by a sharp increase in demand for bullion-backed exchange-traded funds, with holdings last week jumping the most since 2022.

News

Trump and Musk Set for Fort Knox Gold Inspection

During a speech at the Conservative Political Action Conference, President Donald Trump announced that he and Elon Musk would personally visit Fort Knox to verify if the U.S. gold reserves are still present. This inspection follows Elon Musk's public interest in ensuring the gold's existence, amidst discussions about its security and value. Historically, such audits have been rare, with the last notable inspection occurring in 1974. (Grok)

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Crypto Trader Ends Life on Livestream Post Memecoin Loss

A cryptocurrency trader known as 'MistaFuccYou' or 'Im really poor' on social platforms livestreamed his suicide after losing his last $500 in a memecoin rug pull. The event has sparked a wave of reactions across social media, with many expressing sadness, others critiquing the crypto trading culture, and some mentioning the creation of a memecoin based on his final words. The incident occurred on February 22, 2025, highlighting the volatile and risky nature of cryptocurrency trading, especially with speculative investments like memecoins. (Grok)

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Bybit Hack: Largest Crypto Heist Traced to Lazarus Group

February 22, 2025

Cryptocurrency exchange Bybit confirmed a major security breach on February 21, 2025, where hackers stole over $1.4 billion, primarily in Ethereum, marking the largest hack in crypto history. The breach has led to unprecedented withdrawal activity from the platform, with over 350,000 withdrawal requests processed in a short span. Cybersecurity experts and blockchain analysts have attributed the hack to North Korea's Lazarus Group, with the investigation led by crypto investigator ZachXBT. (Grok)

News

US, Ukraine ramp talks on minerals deal

Ukrainian officials and US special envoy Keith Kellogg are said to be seeking to finalise a deal on critical minerals, with their discussions coming after Ukrainian President Volodymyr Zelensky rejected an initial deal that would have seen the US secure half the income from it. Zelensky said his meeting with Kellogg had "restored hope", while White House national security adviser Mike Waltz said on Friday US time that he expected that Zelensky would sign a minerals agreement "in the very short term"; a deal on US access to Ukrainian minerals in exchange for security guarantees would be a major part of the Trump administration's bid to end the three-year war between Russia and Ukraine. (Roy Morgan Summary)

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Gold Road Resources makes record profit for 2024 calendar year

February 24, 2025

Gold Road Resources informed the ASX on Friday that it had made a net profit after tax of $142.7 million for the 2024 calendar year, up from $115.7 million in 2023. The owner of the Gruyere gold mine in the remote northern Goldfields region of Western Australia, Gold Road Resources earned its record profit result on record revenue from gold sales of $528 million, up from $472.1 million in 2023, while its EBITDA of $294.4 million was also a record for it. Gold Road Resources declared a fully franked final dividend of $0.015 cents per share for the six months to 31 December, which followed the fully franked $0.005 cents per share interim dividend it paid for the six months to 30 June.

News

Production declines at three of Gold Fields' four WA mines in 2024 calendar year

South African mining firm Gold Fields released its 2024 results last week, with Gold Fields reporting that its four gold mines in Western Australia produced 1,135,400 ounces of gold last year. This represented a seven per cent decline on the 1,222,600oz they produced in 2023, while of GoldFields' four WA mines - St Ives, Granny Smith, Agnew and Gruyere - only Granny Smith produced more gold than it did in 2023. Globally, GoldFields' mines produced 2.071 million ounces in 2024, down 10 per cent on 2.304Moz in 2023, while its global production guidance for 2025 is 2.250Moz-2.45Moz; Gold Fields operates Gruyere as a 50:50 joint venture with Perth-based Gold Road Resources.

News

Cashed-up Yancoal makes $1.2b profit, eyes M&A

Yancoal Australia has posted revenue of $6.86m for the 2024 calendar year, which is 10 per cent lower than previously. Yancoal's net profit fell 38 per cent to $1.2m, while underlying earnings were down 26 per cent at $2.58bn. Thermal coal accounted for 90 per cent of the company's sales in 2024; executive general manager David Bennett says that although Yancoal would be open to buying thermal coal assets, metallurgical coal is a more attractive option that it will pursue if it can find the right asset at the right price. (RMS)

News

Jervois lawyers up amid calls for EGM

Cobalt miner Jervois Global was at one point valued at $1.6 billion, but unhappy shareholders have accused its board and management of running it into the ground. They are unhappy that Jervois Global is seeking to enter into a voluntary administration deal in the US that will leave with them with nothing, and shareholders representing almost seven per cent of its register have called for an emergency general meeting. Jervois Global has hired law firm King & Wood Mallesons to help stave off requests for an EGM, with the firm telling shareholders that their notices requesting one are invalid. (RMS)

News

US giant MidOcean linked to stake in Barossa gas

Japan-based JERA has downplayed speculation that it is holding talks regarding the sale of its 12.5 per cent stake in Santos's Barossa LNG project in the Timor Sea. Sources have indicated that US-based MidOcean Energy is looking to buy JERA's stake, but Saul Kavonic from MST Marquee says it would be unusual for a Japanese LNG company to exit a project that it only recently entered. The Japanese government has previously expressed concern about the impact of the federal government's changes to the 'safeguard mechanism' on the Barossa project.

News

Whyalla fallout hits $1.5b mining contractor

$1.5 billion ASX-listed NRW has sought for a halt in the trading of its shares to be extended until 28 February so that it can 'recast' its half-year accounts in the wake of the South Australian government's decision to force OneSteel Manufacturing into administration. NRW's mining contracting business Golding is the largest single creditor to OneSteel Manufacturing, which is the owner of the Whyalla steelworks and associated iron ore mines around 60 kilometres away, with Golding said to be owed as much as $120 million. Meanwhile, treasurer Jim Chalmers has played down the likelihood that the federal government might take a stake in the Whyalla steelworks, but he flagged the prospect of mandating quotas to ensure its steel is used in government projects. (Roy Morgan Summary)

News

Plateau State Halts Mining Operations Over Security

February 22, 2025

Governor Caleb Mutfwang of Plateau State, Nigeria, has issued an executive order suspending all mining activities in the region due to rising security concerns. The decision comes after reports of increased illegal mining and related insecurity. The suspension will remain until further notice, while a technical committee has been established to regulate artisanal mining practices. (Grok)

Gold News via Grok

October 9, 2024

Here's an overview of the current gold market situation based on recent updates:

Market Dynamics: Gold prices have been experiencing fluctuations influenced by several economic and geopolitical factors. Recently, gold saw a decline due to a strong U.S. jobs report, which might have influenced investors to book profits. However, gold has also been supported by expectations of lower yields and ongoing geopolitical risks, which traditionally bolster gold as a safe-haven asset.

Geopolitical Influence: Tensions in the Middle East have had a notable impact, with movements in gold prices correlating with developments in conflicts involving Hezbollah and Israel. News of potential ceasefires or escalations directly affects market sentiment towards gold.

Economic Indicators: The anticipation around Federal Reserve interest rate decisions, coupled with economic data like the Nonfarm Payrolls (NFP) report, which showed strong job growth, affects gold's appeal. Lower interest rates generally favor gold as the opportunity cost for holding gold decreases.

Investor Behavior: There's a mixed sentiment in the market. On one hand, gold ETFs have seen inflows, indicating continued or increased interest in gold as an investment. On the other hand, some investors have been selling off due to profit-taking or changing economic expectations influenced by events like significant economic reports or geopolitical news.

Market Sentiment: Posts on X (formerly Twitter) reflect a variety of reactions from investors, with some highlighting gold's resilience in a lower yield environment, while others focus on immediate reactions to economic reports or geopolitical news. The sentiment seems cautious but with an underlying acknowledgment of gold's safe-haven status.

Price Movements: Although specific current prices aren't quoted, the narrative suggests gold has been trading sideways with slight declines recently, influenced heavily by the aforementioned factors but maintaining a relatively high baseline due to persistent global uncertainties.

Future Outlook: Analysts have varied opinions, with some predicting a potential correction but with strong supports expected to prevent deep drops due to gold's role in portfolios as a hedge against inflation, currency fluctuations, and geopolitical risks.

This summary reflects a market where gold's value is continually reassessed against a backdrop of economic data, policy decisions, and global events, with investors watching closely for signals on how to position themselves in this precious metal. (Grok)

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August 16, 2024

Gold: Third Time Lucky?

Gold has been rising steadily since the end of last week and is attempting to consolidate above $2470 per troy ounce on the spot market for the third time in the last 30 days. Gold has moved in tandem with equities this month, but it is worth noting that it fell less aggressively during the panic and outpaced the rally.

So, gold is riding on a global recovery in demand for risk assets, but it has the fundamental support in its arsenal that has pushed the price to repeated all-time highs since March.

A trend line can be drawn across the local lows of May from which gold rallied in the early days of August. Combined with local resistance at $2475, this forms a bullish triangle with a high probability of a breakout.

The next upside target is $2500. This is the psychologically important round level and the resistance line of the uptrend drawn by the April, May and July highs.

As far as more distant growth targets are concerned, the $2800-2900 area is worth mentioning. The upper boundary of this range is the 261.8% Fibonacci level of growth from the September-October 2022 lows to the April 2023 highs.

The lower boundary of the range is formed by the 161.8% level of the growth impulse from the October lows to the April-May highs. This rally began with the first signs of a shift in the Fed's monetary policy, supported by tensions in the Middle East and the desire of some central banks to diversify their reserves away from the dollar.

Commodities News: Gold via Media Man and FxPro

July 7, 2024

Weakness in gold's growth

Gold has lost 0.9% since the start of Monday, almost back to the point where it was trading before the release of jobs data on Friday. Perhaps the very first market reaction to the data release highlighted the mindset of key market participants: they are ready to sell.

Gold has been on an upward trend since the last few days of June, leading the price up 4% to $2390 at its peak on Friday. This can largely be attributed to the dollar's 1% decline, as gold often moves with a higher amplitude.

Weak employment figures also pushed up the gold price on Friday, leading to a weaker dollar and bringing the start of rate cuts closer. However, we note the momentum of the 0.8% decline in gold in the first moments after publication.

The subsequent market reaction was a "worse is better" style: the weakness in the labour market increased expectations of a rate cut soon, which boosted risk appetite. But this is a very unsustainable play, as not all the negativity in the macro economy is disinflationary. Just the opposite, we saw confirmation of wage growth (4.1% y/y) above inflation (3.3% y/y). At the same time, the previous months' hiring figures were revised downward, and the unemployment rate reached a 31-month high.

Thus, the economic situation is deteriorating faster than inflation is slowing. A key rate cut, in this case, would be an attempt to support economic growth rather than remove excessive tightness in monetary policy. That is, the chances of a cut for "bad" reasons rather than good ones are growing, which is negative for risk appetite in the medium term.

On the charts, gold has so far hit resistance at $2390, which also caused a local reversal in April. Further improvement in risk appetite in global financial markets cannot be ruled out and may be helped by the reporting season. Gold's ability to gain strength above $2390 could serve as an important price signal, heralding a fresh assault on historical highs near $2450.

However, we see more chance of further pressure on the gold price. We see the 50-day moving average at $2340 as the first signalling point. If this line is stormed without bullish resistance, the price could quickly retreat to the $2300 area, which is crucial for determining the dynamics for the coming months. A fall below it would be seen as a break of the bullish trend since October when the Fed first signalled its willingness to cut rates.

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A strong current account surplus may not help euro

The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.

The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.

The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.

Gold

Gold rises but within a downward channel

Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.

At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.

The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.

On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.

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Gold is a chemical element with the symbol Au (from Latin: aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloroaurate anion. Gold is insoluble in nitric acid alone, which dissolves silver and base metals, a property long used to refine gold and confirm the presence of gold in metallic substances, giving rise to the term 'acid test'. Gold dissolves in alkaline solutions of cyanide, which are used in mining and electroplating. Gold also dissolves in mercury, forming amalgam alloys, and as the gold acts simply as a solute, this is not a chemical reaction.

A relatively rare element,[6][7] gold is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy. Gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abandoned for a fiat currency system after the Nixon shock measures of 1971.

In 2020, the world's largest gold producer was China, followed by Russia and Australia.[8] A total of around 201,296 tonnes of gold exists above ground, as of 2020.[9] This is equal to a cube with each side measuring roughly 21.7 meters (71 ft). The world consumption of new gold produced is about 50% in jewelry, 40% in investments and 10% in industry.[10] Gold's high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion-resistant electrical connectors in all types of computerized devices (its chief industrial use). Gold is also used in infrared shielding, production of colored glass, gold leafing, and tooth restoration. Certain gold salts are still used as anti-inflammatories in medicine. (Wikipedia)

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In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.

The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price.

Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory.

Hard and soft commodities

Soft commodities are goods that are grown, such as wheat, or rice.

Hard commodities are mined. Examples include gold ,silver, helium, and oil.

Energy commodities include electricity, gas, coal and oil. Electricity has the particular characteristic that it is usually uneconomical to store, and must therefore be consumed as soon as it is produced.

(Wikipedia)

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A strong current account surplus may not help euro

Gold

Gold rises but within a downward channel

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Cryptocurrency

Crypto market growth halted amid capital inflows

Market picture

The crypto market has corrected 0.46% in the last 24 hours, fluctuating within a narrow range without a clear direction. Bitcoin is down 1% but up 3.7% over seven days, Ethereum is flat for the day but up 10.6% over the week. The top coins are mixed with BNB +2% and Solana -2.5%.

Bitcoin is currently drawing its fourth daily candle with opening and closing levels close to each other. Such sideways consolidations are characteristic of strong bull markets, as opposed to corrective pullbacks on smoother rallies.

Ethereum hit local highs on rumours of a positive regulatory decision before the end of March. Bloomberg analyst James Seyffarth bet 4 ETH that the SEC will not approve a spot Ethereum ETF next month.

According to data from CoinShares, investment in crypto funds rose by a record $2.452 billion last week, following inflows of $1.116 billion the previous week.
Bitcoin investments increased by $2.424 billion, Ethereum by $21 million, Cardano lost $6 million, and Solana lost $1.6 million.

Since the beginning of the year, crypto funds have seen inflows of an impressive $5.2 billion, with total AUM rising to $67 billion, the highest since December 2021.

News background

Bitcoin will see institutional support in the next three to six months, according to Coinbase. Bitcoin ETFs could eventually become a major competitor to gold funds.
According to IntoTheBlock, there is an 85% chance that Bitcoin will reach a new all-time high within the next six months. Five factors could contribute to this: the halving of the price, ETFs, monetary easing, the US election, and companies accumulating BTC as part of their treasuries.

Former CIA contractor Edward Snowden, who has been living in Russia since 2013, called bitcoin the most significant achievement of the financial system in the entire existence of money and means of exchange.

Amberdata admitted that Ethereum will outpace Bitcoin in terms of growth due to more constructive deflationary policies. The supply of ETH has been decreasing since September 2022, thanks to the update of The Merge, as well as the implementation of a mechanism to burn part of the commissions. During this time, around 0.36 million ETH, or 0.3% of the total supply of 120 million coins, have been removed from circulation.

Via Roy Morgan Research and Media Man social media

Copper, gold, and Bitcoin rise; Iron ore and oil fall; ASX to fall in response to selling on Wall Street; US vetoes Arab-backed UN resolution demanding ceasefire in Gaza; Assange's lawyers warn that he risks 'flagrant denial of justice' if he is tried in US

Latest updates on Key Economic Indicators

21 February 2024

Roy Morgan Summary

Australian Dollar: $0.6550 USD (up 0.0011 USD)
Iron Ore Mar Spot Price (SGX): $120.85 USD (down $6.40 USD)

Oil Price (WTI): $78.27 USD (down $1.02 USD)

Gold Price: $2,024.37 USD (up $6.43 USD)

Copper Price (CME): $3.8595 (up $0.0465 USD)

Bitcoin: $52,059.35 (up 0.35% in last 24 hours)

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family".

Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.: 38,582.12 at 3.22pm NY time (down 45.87 points on Friday's close)

Roy Morgan wins three-year contract to deliver domestic tourism statistics for Austrade

21 February 2024

Roy Morgan Summary

From 2025, Roy Morgan will provide Austrade with the world's best practice survey methodology, big data integration and modelling techniques to deliver accurate domestic tourism statistics. Roy Morgan has reimagined the future of domestic tourism statistics to move Austrade and its stakeholders to the forefront of tourism intelligence with a new platform that will drive the future of Australia's tourism industry, which is estimated to be worth in excess of $160 billion. Portia Morgan, the Head of Client Services at Roy Morgan, says that using face-to-face interviewing, which is the gold-standard for surveying the population, enhanced with big data and cutting-edge data science techniques, Roy Morgan will be delivering a future-proofed system that will be cost effective, reliable, and accurate. She adds that Roy Morgan has been delivering survey-based tourism insights via its Holiday Tracking Survey for 20+ years and the company is thrilled to be working with Austrade and the broader industry to provide a deeper of understanding of how many people are travelling, where they go, what they do and how they spend their valuable tourism dollars.

Anti-mining PM pushes BHP's cash offshore

Roy Morgan Summary

It is somewhat hypocritical of the federal government to flag possible support for Australia's nickel industry, given that Labor's anti-mining legislation may jeopardise the expansion of BHP's copper operations in South Australia. BHP is still likely to proceed with an expansion, but the previously touted investment of between $10bn and $15bn is now only a 50 per cent chance. The new labour laws in the government's industrial relations reforms mean that BHP is now more likely to redirect much of this capital investment to its criticals minerals projects in other countries; rival miner Rio Tinto is already doing this.

More than 2.7 million New Zealanders now read newspapers and magazine audiences surge to over 1.7 million

21 February 2024

Roy Morgan has released its readership results for New Zealand's newspapers and magazines for the 12 months to December 2023. The data shows that 2.73 million New Zealanders aged 14+ (64.4%) now read or access newspapers in an average 7-day period via print or online (website or app) platforms. In addition, 1.71 million New Zealanders aged 14+ (40.3%) read magazines, whether in print or online either via the web or an app. The New Zealand Herald is still the nation's most widely-read publication, with a total cross-platform audience of 1,720,000 in the 12 months to June 2023 - almost five times as many as the second placed Dominion Post with a readership of 341,000. Meanwhile, New Zealand's most widely read magazine is still the driving magazine AA Directions, which had an average issue readership of 379,000 during the year to December (an increase of 63,000 on a year ago).

These are the latest findings from the Roy Morgan New Zealand Single Source survey of 6,254 New Zealanders aged 14+ over the 12 months to December 2023.

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

(Credit: Roy Morgan Research)

Roy Morgan Summary

One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

Media Man

Warrner Bros

Profile

In 2010, the Warner Bros. Pictures Group broke the all-time industry worldwide box office record with receipts of $4.814 billion, which surpassed the prior record of $4.010 billion (set by the Studio in 2009). Warner Bros. also established a new industry benchmark for the international box office with a total of $2.93 billion (marking a record third time of crossing the $2 billion threshold) and retained its leading domestic box office ranking with receipts of $1.884 billion. 2010 also marked the 10th consecutive year Warner Bros. Pictures passed the billion dollar mark at both the domestic and international box offices. Warner Home Video was, once again, the industry’s leader, with an overall 20.6 percent marketshare in total DVD and Blu-ray sales. The companies comprising the Warner Bros. Television Group and Warner Bros. Home Entertainment Group remain category leaders, working across all platforms and outlets, and are trendsetters in the digital realm with video-on-demand (transaction and ad-supported), branded channels, original content, anti-piracy technology and broadband and wireless destinations.

The Warner Bros. Pictures Group brings together the Studio’s motion picture production, marketing and distribution operations into a single entity. The Group, which includes Warner Bros. Pictures and Warner Bros. Pictures International, was formed to streamline the Studio’s film production process and bring those businesses’ organizational structures in line with Warner Bros.’ television and home entertainment operations.

Warner Bros. Pictures produces and distributes a wide-ranging slate of some 18-22 films each year, employing a business paradigm that mitigates risk while maximizing productivity and capital. Warner Bros. Pictures either fully finances or co-finances the films it produces and maintains worldwide distribution rights. It also monetizes its distribution and marketing operations by distributing films that are totally financed and produced by third-parties. The Studio’s 2011 slate includes “Sucker Punch,” “The Hangover Part II,” “Green Lantern,” “Harry Potter and the Deathly Hallows – Part 2,” “Happy Feet 2” and “Sherlock Holmes: A Game of Shadows.”

Warner Bros. Pictures International is a global leader in the marketing and distribution of feature films, operating offices in more than 30 countries and releasing films in over 120 international territories, either directly to theaters or in conjunction with partner companies and co-ventures.

New Line Cinema, part of Warner Bros. Entertainment since 2008, coordinates its development, production, marketing, distribution and business affairs activities with Warner Bros. Pictures to maximize film performance and operating efficiencies. Highlights of New Line’s 2011 release slate, distributed by Warner Bros., include “Horrible Bosses,” “Final Destination 5,” “A Very Harold & Kumar 3D Christmas” and “New Year’s Eve.”

The Warner Bros. Television Group oversees and grows the entire portfolio of Warner Bros.’ television businesses, including worldwide production, traditional and digital distribution, and broadcasting. In the traditional television arena, WBTVG produces primetime and cable (Warner Bros. Television and Warner Horizon Television), first-run syndication (Telepictures Productions) and animated (Warner Bros. Animation) programming, which is distributed worldwide by two category-leading distribution arms/operations (Warner Bros. Domestic Television Distribution and Warner Bros. International Television Distribution).

Among the primetime series produced by divisions of the Warner Bros. Television Group are “Two and a Half Men,” “The Big Bang Theory,” “The Mentalist,” “Mike & Molly,” “Fringe,” “Gossip Girl,” “The Vampire Diaries,” “Nikita,” “The Middle,” “Southland,” “The Closer,” “Rizzoli & Isles,” “Supernatural,” “The Bachelor,” “Pretty Little Liars,” “Randy Jackson Presents America’s Best Dance Crew” and many more. Also produced by the company are first-run syndicated programs such as “The Ellen DeGeneres Show,” “TMZ” and “Extra,” among others, as well as animated shows “Scooby-Doo! Mystery Incorporated” and “Young Justice.”

WBTVG is an innovative leader in developing new business models for the evolving television landscape, including ad-supported video-on-demand, broadband and wireless, and has digital distribution agreements in place with all of the broadcast networks. Internationally, the Studio is one of the world’s largest distributors of feature films, television programs and animation to the worldwide television marketplace, licensing some 50,000 hours of television programming, including more than 6,000 feature films and 50 current series, dubbed or subtitled in more than 40 languages, to telecasters and cablecasters in more than 175 countries.

WBTVG provides original shortform programming for the broadband and wireless marketplace through its Studio 2.0 digital venture, and its digital media sales unit is devoted specifically to multiplatform domestic advertiser sales for both broadband and wireless. WBTVG continues its strategic expansion into digital production and distribution with the launch of several advertiser-supported entertainment destinations, including TheWB.com, a premium, video-on-demand interactive and personalized network and KidsWB.com, a premium destination built around youth-oriented immersive entertainment.

The final component of WBTVG is broadcasting: The CW Television Network, launched (in partnership with CBS) in September 2006 with quality, diverse programming, is targeted to the 18–34 audience.

Warner Bros. Animation’s combined classic and contemporary library currently boasts 14,000 animated episodes and shorts which air on domestic broadcast networks, as well as cable networks and in direct-to-video releases around the world. The classic library includes such brands as Looney Tunes, Merrie Melodies, Hanna-Barbera and Ruby-Spears as well as such beloved characters as Bugs Bunny, Daffy Duck, Sylvester, Tweety, Taz, Tom and Jerry, Popeye, Batman, Superman, the Flintstones, the Jetsons and Scooby-Doo.

Warner Bros. Home Entertainment Group brings together Warner Bros. Entertainment’s home video (Warner Home Video), digital distribution (Warner Bros. Digital Distribution), interactive entertainment/videogames (Warner Bros. Interactive Entertainment), direct-to-consumer production (Warner Premiere), technical operations (Warner Bros. Technical Operations) and anti-piracy (Warner Bros. Anti-Piracy Operations) businesses in order to maximize current and next-generation distribution scenarios. WBHEG is responsible for the global distribution of content through DVD, electronic sell-through and transactional VOD, and delivery of theatrical content to wireless and online channels. It is also a significant worldwide publisher for both internal and third party videogame titles.

In 2010, Warner Home Video dominated the U.S. market as the number one company in total sell-through video (DVD and Blu-ray combined) with 20.6% marketshare, theatrical catalog, TV on DVD, non-theatrical family and animation, Blu-ray and VOD. WHV has been the number one studio in overall DVD sales 14 consecutive years, and is also the leading studio in the international home video space.

With more than 3,700 active licensees worldwide, Warner Bros. Consumer Products licenses the rights to names, likenesses and logos for all of the intellectual properties in Warner Bros. Entertainment’s vast film and television library. With a global network of offices and agents in key regions throughout the world, including North America, Latin America, Asia and Europe, WBCP maintains an ongoing commitment to expand and build the power of its core brands’ recognition in the international marketplace through strong and creative merchandising, promotional marketing and retail programs.

DC Entertainment’s DC Comics has been in continuous publication for more than 60 years, and is the leading comic book publisher in the industry and the creator of some of the world’s most recognized icons. DC’s characters continue to headline blockbuster feature films, live-action and animated television series, direct-to-video releases, collectors’ books, online entertainment, digital publishing, countless licensing and marketing arrangements and, most recently, graphic novels. DC continues to attract new readers and fans all over the world with its signature characters Superman, Batman, Wonder Woman and Justice League leading the way.

Warner Bros. International Cinemas provides a true state-of-the-art movie experience to audiences in Japan with more than 60 multiplex cinemas and more than 600 screens internationally. One of the pioneers in multiplex development for the international marketplace, WBIC is continually exploring new markets for expansion. (Credit: Warner Bros. Entertainment)

Press Release

09 August 2010

MICROGAMING SET TO LAUNCH THE LORD OF THE RINGS™: THE FELLOWSHIP OF THE RING ONLINE VIDEO SLOT GAME

First Title to Utilize Proprietary Cinematic Spins™ Technology Allowing Players to Experience the Film with Every Spin

ISLE OF MAN – Microgaming today announced the imminent launch of a new flagship game, The Lord of the Rings: The Fellowship of the Ring Online Video Slot Game. This slot game is the first to utilise Microgaming’s new Cinematic Spins™ technology, allowing gamers to see clips from the films with every spin.

The Lord of the Rings: The Fellowship of the Ring is a new online slot game that is part of a multi-year licensing agreement Microgaming signed with Warner Bros. Digital Distribution in 2009. The company is developing a series of cutting-edge, graphic rich video slots based on this popular movie trilogy and will use animation material, themes, and characters, from the trilogy of The Lord of the Rings™ motion pictures that include The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers and The Lord of the Rings: The Return of the King. These online slot games will be available to adults only in countries where online gaming is permitted.

The Lord of the Rings: The Fellowship of the Ring is the first online video slot to use Microgaming’s Cinematic Spins™ state-of-the-art gaming technology. This allows movie clips to act as moving backgrounds behind the reels during spins providing players an unprecedented level of excitement and immersion.

Win sequences and expanding wilds also use cinematic clips, instead of traditional animated graphics. The slots feature famous scenes from the film including Ringwraiths during the attack at Weathertop, Balrog in the Mines of Moria, and Uruk-hai in the woods of Middle-earth. Players will also enjoy seeing characters from the films that include Frodo, Aragorn, Saruman and the deadly Black Riders.

Roger Raatgever, CEO Microgaming comments: “Microgaming has always been ahead of the curve with innovative offerings, but this game really does push the boundaries of what an online slot can do. The Lord of the Rings: The Fellowship of the Ring looks and feels like an extension of the big screen film experience and we’re confident that our operators will see a great deal of demand from their players, when the game is released. This is an important deal for Microgaming and highlights our commitment to partner with the right brands, at the right time. The Lord of the Rings is one of the most successful and well loved brands on the planet and we are excited about combining this widespread appeal with Microgaming’s groundbreaking software.”

The Lord of the Rings Trilogy generated $3 billion in worldwide box office receipts and was nominated for a total of 30 Academy Awards®; of which they won 17, including Best Picture.

- Ends -
Notes to editors:
*Cinematic Spins is a trademark held by Microgaming

© 2010 New Line Productions, Inc. All rights reserved. The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers, The Lord of the Rings: The Return of the King and the names of the characters, items, events and places therein are trademarks of The Saul Zaentz Company d/b/a Middle-earth Enterprises under license to New Line Productions, Inc.

For further information please contact:
Duncan Skehens / Laura Moss/ Lyndsay Haywood
Lansons Communications
020 7490 8828
DuncanS@lansons.com / LauraM@lansons.com / LyndsayH@lansons.com
Warner Bros. Digital Distribution

Peter Binazeski
818-977-5701
peter.binazeski@warnerbros.com
About Microgaming (www.microgaming.com)
Since the company developed the first true online Casino software over a decade ago, it has led the industry in providing innovative, reliable gaming solutions. Thanks to an unrivalled R&D programme, that averages 60 games per year and a unique ‘partnership’ approach to working with operators; Microgaming software powers over 160 market-leading online gaming sites.
The company’s front and back-end software supports multi-player, multi-language games - over 500 of them, all uniquely branded and provides platforms for land-based and wireless gaming. Microgaming powers the world’s largest Progressive Jackpot Network and has paid out over €265million. In May 2009 it created the biggest ever online jackpot winner with a single payment win of €6.37m.

As a founding member of eCOGRA, Microgaming is at the forefront of an initiative focused on setting the highest standards in the gaming industry, and leads in the areas of fair gaming, responsible operator conduct and player protection. Microgaming has been awarded eCOGRA’s Certified Software Seal following a rigorous onsite assessment to ensure that the development, implementation and maintenance of the software is representative of industry best practice standards Microgaming licensees are therefore eligible to apply for the eCOGRA Safe & Fair Seal.

About Warner Bros. Digital Distribution
Warner Bros. Digital Distribution (WBDD) manages Warner Bros. Home Entertainment Group's (WBHEG) electronic distribution over existing, new and emerging digital platforms, including pay-per-view, electronic sell-through, video-on-demand, wireless and more. WBDD also oversees the WBHEG's worldwide digital strategy, partnerships in digital services and emerging new clients and business activities in the digital space.

News

2009

With Time Warner sitting on $7 billion in cash, the Marvel deal has ignited rumours of a second wave of consolidation in the media industry. Dream Works Animation, home of Shrek, is seen as a potential takeover candidate, as is MGM with its huge library of classic films. The games firms Electronic Arts and Take Two Interactive, with its Grand Theft Auto franchise, are also being touted as potential buys.

Profile

Warner Bros. Entertainment, Inc. (also known as Warner Bros. Pictures, or simply Warner Bros.) is one of the world's largest producers of film and television entertainment.

It is a subsidiary of Time Warner, with its headquarters in Burbank, California and New York City. Warner Bros. has several subsidiary companies, including Warner Bros. Studios, Warner Bros. Pictures, Warner Bros. Interactive Entertainment, Warner Bros. Television, Warner Bros. Animation, Warner Home Video, TheWB.com and DC Comics. Warner owns half of The CW Television Network.

Founded in 1918 by Jewish immigrants from Poland, Warner Bros. is the third-oldest American movie studio in continuous operation, after Paramount Pictures, founded in 1912 as Famous Players, and Universal Studios, also founded in 1912.