Latest news with #prices
Globe and Mail
an hour ago
- Business
- Globe and Mail
Gold retreats from near four-week peak as U.S. dollar ticks up slightly from six-week low
Gold prices fell on Tuesday, retreating from near a four-week high, as a modest rise in the dollar weighed on the metal, although uncertainty over the U.S.-China trade agreement kept investors cautious and limited the bullion's decline. Spot gold fell 0.3 per cent to US$3,369.98 an ounce, as of 0249 GMT, after hitting its highest level since May 8 earlier in the session. U.S. gold futures were steady at US$3,390. The metal gained about 2.7 per cent in the previous session, marking its strongest daily performance in more than three weeks. 'Dollar recovered slightly and gold came down so it has been inversely correlated at this point of time,' said Brian Lan, managing director at GoldSilver Central, Singapore. However, gold is still closely tracking developments around global trade, and while investors have slightly reduced their positions in gold it is not to the extent seen in previous instances when tensions appeared to ease, said Lan. Why gold is poised to hit $6,000 an ounce within five years The U.S. dollar index recovered slightly from a six-week low. U.S. President Donald Trump and Chinese President Xi Jinping will likely speak this week, White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. U.S. tariffs on imported steel and aluminum are scheduled to double to 50 per cent starting on Wednesday, coinciding with the Trump administration's deadline for countries to submit their best offers in trade negotiations. The European Commission said on Monday it would make a strong case this week for the U.S. to reduce or eliminate tariffs despite Trump's decision to double import duties on steel and aluminum. Meanwhile, Russia told Ukraine at peace talks on Monday that it would only agree to end the war if Kyiv gives up big new chunks of territory and accepts limits on the size of its army, according to a memorandum reported by Russian media. Elsewhere, spot silver fell 2.1 per cent to US$34.07 an ounce, platinum was steady at US$1,062.46 and palladium was up 0.1 per cent at US$990.26.
NHK
a day ago
- Business
- NHK
Japan government stockpiled rice reaches consumers
The Japanese government's stockpiles of rice that are sold directly to retail firms are now on sale at retail outlets. Attention is focused on whether the widespread sale of the stockpiles will help bring down rice prices. Amid the soaring price of rice that has been hitting households, the Japanese government began releasing its stockpiles through direct contracts. A total of 300,000 tons of stockpiled rice harvested in 2021 and 2022 are on sale through no-bid contracts. 5-kilogram bags of rice on sale at around 2,000 yen, or about 14 dollars, were spotted at some stores on Sunday. A number of people are visiting supermarkets and other outlets to buy stockpiled rice. On Sunday, Agriculture Minister Koizumi Shinjiro says he thinks the release of stockpiled rice may help lower all rice prices to some extent. The agriculture ministry is also accepting applications from small and mid-sized retailers to buy government-stockpiled rice from Friday. A total of 80,000 tons harvested in 2021 are up for sale through no-bid contracts. The ministry says it has already received about 1,300 applications. It says it will temporarily stop accepting applications from rice retailers on Monday afternoon, saying applications might account for all the rice set to be released.
Bloomberg
2 days ago
- Business
- Bloomberg
Peru Lima Inflation Index Surprisingly Falls in May
Inflation in Peru's capital fell slightly in the month of May, surprising economists who were forecasting a small increase. Consumer prices fell 0.06% month-on-month, compared to the median forecast of 10 economists who expected inflation to rise 0.13%. On an annual basis, the inflation index rose slightly to 1.69%, lower than the 1.87% forecast.
Japan Times
3 days ago
- Business
- Japan Times
41% of Japanese rice farmers expect price drop in 2026
A survey released Friday suggested that 41.0% of large-scale rice farmers in Japan expect retail prices for rice harvested in 2026 to be lower than for rice harvested in 2025, while 22.9% foresee higher prices. Meanwhile, 72.3% expect prices for 2025 rice to be higher than for 2024 rice. The survey was conducted online by the Japan Agricultural Corporations Association from May 12 to 19 and received responses from 188 association members. At a news conference, the association's chairman, Kazushi Saito, expressed concern that prices for 2026 rice "may collapse, making management difficult (for rice farmers)," citing cheap imported rice and an increase in domestic production. For 2024 rice, 53.7% of respondents said current prices are excessively high. Regarding producer prices, 45.2%, the largest group, cited a price range of ¥20,001 to ¥25,000 per 60 kilograms. Compared to 2023 rice, 38.3%, the largest group, said prices are ¥5,001 to ¥10,000 higher, while 5.0% said prices are ¥15,001 to ¥20,000 higher. Asked about their concerns, many respondents pointed to high construction and machinery prices, labor shortages and a possible price slump due to overproduction. The survey comes as rice prices reach record highs in Japan, prompting the government to tap its stockpiles in a bid to bring cheaper rice to the market. On Saturday, some retailers began selling stockpiled rice to consumers for the first time.
CBC
7 days ago
- Business
- CBC
How a chocolate bar explains inflation
Ever hear your grandpa brag about how cheap candy used to be when he was a kid? That's because prices increase over time. We measure that increase through something called the inflation rate. No clue what inflation means? Allow us to explain using something pretty sweet: chocolate!
