welcome back to our weekly update I'm Charlotte McLeod with the investing News Network and I'm here to give you a quick look at our top stories for the week [Music] all eyes were on the latest inflation data out of the US this week the Consumer Price Index Rose 0.4 percent month on month in April and 4.9 percent year on year that's the first reading under five percent in two years core inflation which removes food and energy from the equation came in higher up 5.5 year on year Market Watchers are largely taking the


CPI stats as a sign that the U.S federal reserve's efforts same inflation are working the Central Bank hiked interest rates again last week bringing the target federal funds rate to a range of 5 to 5.25 percent the FED will meet again in June and the general consensus is that it won't raise rates at that time gold leaped up to 2045 per ounce in the immediate aftermath of the CPI news but pulled back to the 2027 level soon after as we discussed last week the yellow medal seems to be reacting to the


increased possibility of a Fed paused or even a pivot a long list of other factors continue to affect gold concerns about the banking sector remain and the U.S debt ceiling is attracting attention as well if it's not raised by June 1st the country May default a situation that would have major Global consequences that said it's worth noting that since 1960 Congress has acted 78 separate times to permanently raise temporarily extend or revise the definition of the debt limit stepping away from gold I want to take a


brief look at the lithium Market where a major deal was recently announced top lithium producers liven and outcome have agreed to merge in a deal worth 10.6 billion the all-stock merger of equals is scheduled to close at the end of 2023 and the companies believe that as a new entity they'll be able to deliver more lithium in a faster and more reliable manner livens lithium operations are mainly in Argentina although the company also votes 50 of Nebraska lithium in Canada alcom has a focus on Argentina too plus


Assets in Australia and Canada lithium is an important material in electric vehicle batteries and demand continues to rise as the green energy Trend gains traction while it looks like liven and outcomes transaction is full steam ahead other high-profile lithium mergers and Acquisitions haven't been as fruitful earlier this year lion Town resources rejected a takeover offer from Albemarle while essential Metals declined a bin from a joint venture formed by tianki lithium and Igo that's all for this week if you like


this video make sure you subscribe to our Channel and turn on notifications so you don't miss teacher updates and interviews you can also follow us on social media or click below for our report or any article mentioned in this video we'll see you next time [Music]