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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 4.85 points last week to close at 581.7. This past Tuesday (April 30) and Wednesday (May 1) brought the latest meeting of the US Federal Reserve’s Federal Open Market Committee (FOMC). With recent data suggesting inflation has stalled and demand in the labor market has outstripped supply, the FOMC held interest rates at 5.25 to 5.5 percent, a level established in July 2023. In a statement, Fed Chair Jerome Powell said that, while increases were unlikely, the central bank still needed greater confidence that inflation was sustainably on its...
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The first quarter of 2024 began with copper prices remaining steadfast, staying within the US$8,000 to US$8,500 per metric ton (MT) range. However, the end of the quarter saw the red metal gain momentum on the LME and surge to a quarterly high of US$8,973 on March 18 before moving to set a two-year high on the London Metal Exchange of US$9,869 on April 30. The dramatic gains came on the back of tightening concentrate supply to Chinese smelters, who cut supply as competition between upgraders caused treatment charges to fall to their lowest point since 2010. While supply for refined copper was ...
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Coming off a volatile 2023, copper started the new year trading in the US$8,000 to US$8,500 range in January and February. However, the red metal saw significant gains starting at the end of February and through March as news of production cuts from Chinese smelters began to make headlines. The cuts came as supply for concentrates became tight, sending treatment charges to their lowest point since 2010. The results of the cuts pushed the price of copper on the London Metal Exchange to a quarterly high of US$8,973 per metric ton (MT) on March 20. The price has continued to see gains and reached...
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The gold price started 2024 coming off December's record highs. A combination of central bank buying and geopolitical uncertainty helped gold remain above US$2,100 per ounce for the first eight weeks of the year. However, a rally in early March gave gold renewed momentum. Support came on the back of contracting US manufacturing numbers, which caused investors to speculate that the US Federal Reserve would start rate cuts in June. This belief gained further strength when the central bank met on March 19 and 20, and indicated that it was done with rate hikes and was expecting to make three cuts ...
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Silver demand is forecast to reach its second highest level ever in 2024 at 1.2 billion ounces, driven by industrial market segments such as photovoltaics and electric vehicles. This high demand is coming alongside flat production growth, and is creating a situation that would seemingly be ripe for a price breakout. However, the first months of the year saw the metal trade in the US$22 to US$24 per ounce range. The beginning of March brought a shift in the market, and silver started to make gains. Following its sister metal gold higher, silver hit a quarterly high of US$25.71 on March 20 befor...
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Biotech is a dynamic industry that is driving scientific advancements and innovation in healthcare. According to Grandview Research, the global biotech market was worth US$1.55 trillion in 2023, and the firm expects it to grow at a CAGR of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion. In Canada, the biotech sector is home to companies pursuing cutting-edge therapies and medical technologies, and the Investing News Network has identified the top three biotech stocks based on their year-on-year gains. Data was collected on April 16, 2024, using TradingView's stock scr...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 31.43 points last week to close at 586.55. The US Bureau of Economic Analysis (BEA) released its advance estimate for first quarter GDP growth this past Thursday (April 25). Though still incomplete, the data shows a slowing growth rate for real GDP — it increased 1.6 percent on a year-on-year basis, considerably lower than the fourth quarter of 2023, which saw growth of 3.4 percent. While analysts had expected slowing growth, the numbers were below analysts' forecasts. The GDP report came alongside a release from the BEA this past Friday (...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 20.69 points last week to close at 567.02. Statistics Canada released March consumer price index figures this past Tuesday (April 16), showing inflation was up 2.9 percent on a year-on-year basis, higher than the 2.8 percent year-on-year growth reported in February. Gasoline prices, which were up 4.5 percent compared to the same period last year, were a significant factor in the gain. Additional pressure came from rising shelter costs due to mortgage and rental increases. Core inflation less gas prices saw a slight decline from February’s ...
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Uranium has broken out, with the spot price rising to a 16-year high of US$106 per pound in early 2024. Despite a pullback, uranium prices in April still remain 30 percent higher than last year's average. Although the market's turnaround has taken time, experts are predicting a bright future as countries around the world pursue clean energy goals. Against that backdrop, some ASX-listed uranium companies have been making moves in 2024. Below the Investing News Network has listed the top uranium stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on Apri...
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The lithium market exhibited greater stability in Q1 after fluctuating in 2023. Lithium carbonate prices, which began the quarter at US$13,377.44 per metric ton, concluded around US$14,874.31, up 11 percent. Market oversupply prompted some lithium producers to trim their 2024 output targets in hopes that excess material will be absorbed. Spending for project expansions and new developments was also put on the back burner. “We believe we are approaching the bottom of the market, considering the industry is moving fairly deep into the cost curve. This is likely to support lithium prices as produ...
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