OCBC: Dollar Weakness Revives Gold's Safe-Haven Appeal
On March 25, OCBC strategist Christopher Wong stated that gold's safe-haven demand is re-emerging due to expectations of easing Middle East tensions and a weakening US dollar. This further proves that gold has not lost its appeal as a safe-haven asset. It was once crowded out by the dollar, but this pressure is now easing. In the short term, gold prices may continue to be influenced by expectations of the Federal Reserve's policy path, dollar movements, and changes in geopolitical situations. However, this rebound indicates that price declines may still find support unless real yields rise significantly. (JIN10)
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Rio Tinto ADR plunges over 4%: Rockfall incident at Mongolia's Oyu Tolgoi copper mine halts underground operations
The accident resulted in injuries to 15 workers, with no fatalities reported so far. According to US media, the mine has temporarily suspended its underground operations. Oyu Tolgoi is one of the world's largest copper mines and a key source of future copper production growth for Rio Tinto. The impact of the accident on the mine's recovery schedule and copper output is still under assessment. On Thursday, Rio Tinto ADRs saw their losses widen to as much as 4.3%, reaching a new low since March; New York copper prices fell by 1%, briefly bouncing after the news before resuming their decline.
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