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Ghana Faces $11.4 Billion Gold Smuggling Crisis as UAE Imports Expose Trade Gap
A recent report by the nonprofit Swissaid has revealed a massive discrepancy in Ghana’s gold trade data, exposing the country to an estimated $11.4 billion in lost revenue over a five-year period due to unregulated gold smuggling, primarily to the United Arab Emirates (UAE).
Gold Prices Dip Amid Israel-Iran Conflict and Upcoming G7 Summit
Gold prices slipped on Monday as global investors grappled with mounting geopolitical tensions between Israel and Iran, alongside heightened anticipation for this week’s Group of Seven (G7) leaders’ summit and the impending Federal Reserve policy announcement. Despite recent volatility, gold’s role as a safe-haven asset remains prominent as markets balance concerns over conflict and central bank interest rate decisions.
IGL Shares Rise as Delhi Government Signals Easing of EV Policy
Shares of Indraprastha Gas Ltd. $IGL.NS advanced by 3% on June 16, following reports that the Delhi government is likely to ease the timeline for phasing out conventional fuel vehicles under its electric mobility strategy. The potential policy revision, first reported by the Hindustan Times, has improved sentiment around IGL’s medium-term gas distribution outlook, particularly in the public transport and last-mile delivery segments. The reaction in IGL’s stock reflects a reassessment of downside risks previously priced in due to aggressive electrification mandates that threatened compressed natural gas (CNG) demand in key urban corridors.
Positive news, but there are concerns about long-term sustainability
The market has suddenly become lively. How long will this momentum last?
Tariffs ripple through the market, leaving metals like copper and aluminum vulnerable to economic turbulence.