⛏ BHP Blackout

PLUS: Gold Breakout

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πŸ“ Here are the highlights

🧐 BHP Blackout

😎 Gold Breakout

🐦 Uranium Supply Struggles

πŸ“Œ Daily Commodity Prices

Source: TradingEconomics and Numerco.

🧐 BHP Blackout

BHP's Olympic Dam copper mine in South Australia has halted operations due to power outages caused by severe electrical storms. The storms damaged multiple transmission towers, disrupting the power supply.

The mine, Australia's second-largest copper producer and producer of uranium, is now running minimal operations using backup generators. BHP is collaborating with ElectraNet to restore power and assess the impact. This incident mirrors a similar disruption in 2016 that significantly reduced copper output.

All eyes now turn to other players to see who steps up to fill the void, right?

😎 Gold Breakout

Gold surged past the $2,700 mark for the first time, driven by safe-haven demand amid escalating geopolitical tensions and expectations of further monetary easing. Spot gold reached an all-time high of $2,714 per ounce, gaining over 2% this week.

Rising uncertainty around the U.S. presidential elections and Middle East conflicts, particularly Hezbollah's escalations against Israel, has fueled investor interest in gold. Despite declining inflation and Treasury yields, gold has gained over 31% this year. Analysts predict resistance at $2,750 if the rally continues. 

Is gold becoming a must-have asset in today's volatile market?

πŸ“° In Other News

🐦 Uranium Supply Struggles

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The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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