In a rare turn of events, gold, silver and copper are all simultaneously gunning for record highs. Gold came very close to achieving a new all-time high close yesterday, but ultimately had to settle for $3,431 per ounce. Silver meanwhile achieved yet another yearly high by reaching $39.25 last night. Last but not least, copper prices rose over 2% on Tuesday to come within touching distance of $5.70 per pound. Copper imports into the US are facing the looming threat of a 50% tariff, which has pushed prices up dramatically since being announced by president Trump earlier in the month. A number of vessels carrying copper are currently in a race to reach US ports before the new duties come into effect on the first of August. The rush to unload the precious cargo has forced shipping companies to employ some creative measures, such as shipping to Hawaii as opposed to the intended destination in the contiguous states, as well as paying a premium to skip queues upon arrival in port.
Tariffs in general are once again a driving force behind market sentiment. The announcement of a trade deal between the US and Japan pushed both nations’ stock markets higher yesterday. The Nikkei 225 gained 3.2% over the course of the day, tipping the index over 41,000 points. In the US meanwhile, the S&P 500 edged another all-time high close last night, already its second of the week. Earnings reports from Alphabet (GOOG) and Tesla (TSLA) could stir things up later today , as expectations from investors are absolutely sky-high. Anything less than great news could potentially put pressure on tech stocks. General Motors (GM) tanked 8% yesterday after disappointing profit figures while Lockheed Martin (LM) crashed over 10% on similarly dismal quarterly results.
Эрсдлийн дохио : Худалдааны дериватив ба хөшүүрэг бүтээгдэхүүн нь өндөр түвшний эрсдэлтэй байдаг.
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