Gold prices plummeted by 3% following Scott Bessent’s selection as Treasury secretary by President-elect Donald Trump, and reports of a potential ceasefire deal between Israel and Hezbollah, reducing the appeal of the safe-haven metal. Spot prices of gold dropped to $2,616.80 per ounce, with futures trading at $2,628.5. The selloff was attributed to Bessent’s appointment, progress towards an Israel-Hezbollah ceasefire, and a decrease in physical demand from Asian central banks and traders.
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Carney says pipelines 'not necessarily' among major projects to prioritize
Liberal leader Mark Carney stated that pipelines are “not necessarily” the primary projects his government would focus on to address the trade war with the U.S. During a televised interview, he emphasized Canada’s need to become an energy superpower, aiming to reduce reliance on foreign oil, although he mistakenly claimed that 70% of Quebec's oil comes from the U.S. Carney also highlighted the necessity of investing in carbon capture technology to enhance Canada's competitiveness internationally,...
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