The Australian sharemarket stepped up on Monday as miners and consumer companies climbed after a rally on Wall Street.
Gold has become another asset linked to economic growth,and that’s why its price is no longer seen as a useful harbinger of social and economic collapse.
The Australian sharemarket was buoyed by energy companies,banks and miners after China cut two key benchmark lending rates for the first time in 10 months.
The physical gold price has gained 23 per cent from its lows in September last year,and further rises are expected as the risk of recession increases.
But the explosives maker believes the incentives are not big enough to counter America’s $US369 billion effort to supercharge its clean energy economy.
Chief executive Jakob Stausholm has made some frank comments at a business breakfast in Perth on the pace and feasibility of emissions and renewables targets.
The world already faces a daunting challenge to produce the metals and minerals critical to reaching climate goals. Which makes reports out of China quite concerning.
Wall Street has soared,giving the Australian sharemarket a positive lead as domestic materials and information technology companies climbed.
One of the world’s biggest and most sophisticated trading houses thought it was funding a deal for 25,000 tonnes of valuable nickel. There was just one problem.
In the face of scandals,price crashes,rising interest rates and increasing regulatory interventions,crypto prices are soaring in 2023.
No one other than the big North American gold miners could make sense of the economics of a bid with a takeover premium,albeit a relatively modest one,for Newcrest.