The gold price has yet to fully recover after falling off a cliff on June 7.
Statistics shared by the Department of Labor show that the CPI rose 3.3 percent year-on-year in May, lower than April’s 3.4 percent increase; the index was flat month-on-month compared to April’s uptick of 0.3 percent. Core CPI, which excludes food and energy, had monthly and yearly readings of 0.2 and 3.4 percent, respectively.
In its statement, the Fed said “modest progress” has been made in reaching its goal of 2 percent inflation, with Chair Jerome Powell echoing that idea during a press conference.
“We see today’s report as progress and as, you know, building confidence. But we don’t see ourselves as having the confidence that would warrant beginning to loosen policy at this time,” he said.
The company plans to continue exploration at Fen, and has already planned a drill program for this year. It also wants to set up a pilot factory close to the deposit.
A copper shipment from Russia has gone missing, leaving a Chinese commodities trader with a loss of about US$20 million. The firm reportedly bought 2,000 metric tons of the red metal from Russian company Regional Metallurgical in late 2023, and although it was due to be delivered last month it never showed up.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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