Cocktails and Commodities
Cocktails and Commodities
Shae Russell
Why is cobalt suddenly rising, Brent crude jumps, copper stockpiles empty and gold is range bound ahead of July Fed
15 minutes Posted Jul 11, 2023 at 12:23 pm.
The ASX welcomes two new explorers
– Gold range bound ahead of expected Fed July hike
– Australian bank warns of a silver deficit
– Russia may not renew Black Sea Grain corridor
– Brent rallies on OPEC+ cuts but vulnerable to US economic data this week
– Cobalt spreads pushing cobalt price higher
– US embraces economic nationalism
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15:33
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Show notes
Resource news in under 15 minutes: Gold remains subdued, the silver price goes nowhere though ANZ bank warns of a shortage, Brent is moves higher but can it hold? Copper traders are puzzled as stockpiles are drained but it’s not matched up with demand, cobalt rallies but why, keep your eyes on the wheat price for the next week, two companies debut on the ASX and what the markets think the Fed will do in July.
Time stamps
4.25 – Large copper stockpile drawdowns puzzle traders