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The United States (US) reported that annualized inflation, as measured by the Consumer Price Index (CPI) rose by 3.8% in the twelve months to April, higher than the 3.3% posted in March and above expectations of 3.7%.

MUFG’s Lee Hardman notes that the US Dollar’s (USD) rebound alongside higher Oil prices has lifted USD/JPY back towards 158.00, close to levels seen before suspected Japanese intervention.

BNY’s Bob Savage reports India is considering emergency steps to protect foreign exchange reserves as higher Oil prices widen the current account deficit. Measures under discussion include fuel price hikes, import restrictions on Gold and electronics, and tighter hedging rules.

Commerzbank strategists highlight concerns from India’s jewellery industry about a potential further setback in Indian Gold jewellery demand, which is important for the physical Gold market.

The battered European chemicals industry has just closed a weak but still better-than-expected first quarter as the supply shock from the Middle East hit Asian petrochemical makers amid dried-up naphtha and other feedstock supplies from the Persian Gulf. Asia’s petrochemicals sector is highly depend

Gold (XAU/USD) shows moderate losses on Tuesday, trading a few pips below the $4,700 level at the time of writing after failing to find acceptance above $4,770 earlier on the day.

Gold (XAU/USD) reverses earlier gains on Tuesday as fading hopes for a near-term breakthrough in US-Iran negotiations and a modest rebound in the US Dollar (USD) weigh on the precious metal ahead of the US Consumer Price Index (CPI) data release.

Copper Quest Exploration has commenced drilling at the Rip Copper-Molybdenum Project located in the Stikine region of British Columbia, Canada. The post Copper Quest initiates drilling at Rip Project in British Columbia appeared first on Mining Technology.

TD Securities economists highlight that higher US Treasury yields followed headlines on Middle East tensions and upcoming supply, with attention now turning to April United States (US) Consumer Price Index (CPI).