Economics

Over the past year, the price of gold has experienced something unusual. It has reached record highs, seemingly disconnected from traditional influencers like interest rates, inflation, and the dollar.

Gold prices reached all-time highs on Monday.

Mineral Resources Limited (ASX:MIN) is addressing governance issues following recent media reports concerning Managing Director Chris Ellison.

As of mid-October 2024, US crude oil stockpiles have risen, with a recent increase of 10.2 million barrels reported during the week ending October 11.

Elon Musk’s Starlink has scored a significant victory in India’s satellite spectrum allocation battle, raising the prospect of a price war with Mukesh Ambani’s Reliance Jio.

European markets closed higher on Thursday, after the European Central Bank (ECB) cut interest rates for the third time this year.

The US economy added 254,000 jobs in September 2024, significantly exceeding the 140,000 forecast by economists.

Retail sales in the United States rose by 0.4% in September 2024, surpassing market expectations of 0.3%.

Shares of Nvidia reached a new all-time high on Monday, surpassing their previous peak from July.

General Motors has significantly increased its investment in a key lithium project, raising its total commitment to nearly $1 billion as it aims to secure a long-term supply of the critical metal essential for electric vehicle battery production.

Titomic Limited (ASX:TTT) has announced the completion of an equity placement, raising $30m to fund its expansion into the United States.

Oil prices plunged over 4% to a near two-week low on Tuesday, driven by a weaker demand outlook and a report indicating that Israel would refrain from attacking Iranian nuclear and oil facilities, which alleviated concerns about potential supply disruptions.

Fuel refiner and retailer Ampol (ASX:ALD) is facing a rough end to 2024. Problems that emerged in the three months to September are continuing into the final quarter of the financial year.

China’s commodity imports were surprisingly strong in September, despite the overall weakness in inbound shipments and the sharp softening in export growth.

More evidence suggests that the Chinese economy is weak, and the patchy stimulus measures announced in the past two weeks may be too little, too late.

Deflation deepened across the Chinese economy in September, highlighting a problem that the government has so far refused to tackle with its tentative stimulus measures.

The ASX is set for a solid opening on Monday morning following a 46-point gain in share price index futures trading on Friday night. However, this gain may be tempered by the unknown reaction to yet another lackluster stimulus announcement from the Chinese government on Saturday.

Another stunning “triumph” from Elon Musk as his highly hyped robotaxi product launch failed to impress investors—many of whom had believed he would achieve a marketing coup at Thursday night’s event.

For the second time in a week, China has left investors questioning what the term "stimulus" really means.

Eighteen months after the regional banking crisis—which many analysts claimed foreshadowed larger issues for the country's banks and the economy—America’s banks appear to be in robust health, based on the first round of September quarter earnings reports from major players like JPMorgan Chase and Wells Fargo.

As usual, Wall Street got itself into a bit of a tizzy when the September Consumer Price Index came in slightly higher than forecast and the latest initial unemployment claims rose to a 14-month high.

Another stimulus attempt from the Chinese government could be in the offing.

Chinese stocks caught up with Hong Kong on Wednesday, falling sharply as the Chinese government’s attempts to convince the world that it was interested in stimulating a moribund economy failed for a second consecutive day.