welcome back to our weekly update I'm Charlotte McLoud with investing news.com and I'm here to give you a quick look at this week's most interesting medals and Mining Stories the gold price was back on the move this week approaching the 2400 per ounce mark on June 6th after starting the period at around 2320 the yellow medals Advance was driven partially by the European Central bank's first interest rate cut since 2019 the ecb's key rate had been at a record 4% since September of last year
but has now been lowered by 25 basis points earlier in the week the Bank of Canada became the first G7 Nation to lower rates taking its overnight rate to 4.75% the US Federal Reserve has yet to do so and is widely expected to leave rates unchanged until after the summer Barker participants are now waiting for May us jobs data which will be out by the time this video is posted looking briefly at Silver the white metal slip below 30 per ounce this week but quickly recovered while 30 is an important level
for the metal Peter C of silver stock investor recently explained to me that it's not too concerning for it to fluctuate a little in his view 26 is the worst case scenario for silver he doesn't see it getting much weaker than that and ultimately believes it's setting a floor at 30 the New York Stock Exchange was quick to fix a glitch that made shares of bar gold appear to drop nearly 100% on June 3rd according to the exchange the issue was related to limit up limit down bands which are put in place to restrict
extreme share price movements after the problem was resolved the NYC said it was reviewing erroneous trades in about 40 companies Warren Buffett's Berkshire hathway was among the companies affected as was GameStop a well-known mem Stop Copper has been making headlines in 2024 and this week's brought Asset Management gave investors a new way to get exposure to the red metal the company brought physical copper trust started trading on the TSX in both us and Canadian dollars on June 6th the trust's initial public
offering which closed the same day raised gross proceeds of 100 million according to sproutz John chalia the trust is the world's first physical copper investment fund well John is perhaps best known on our channel for his uranium commentary when I spoke to him about 2 months ago he said he sees copper as a metal that's a little further behind on the curent but quickly coming into Focus I'll leave the links to these stories in the video description if you'd like to learn more that's all for this week if you like
this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next time for
Post a Comment