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The onshore yuan closed at 7.0690 against the US dollar at 16:30 on December 4, down 29 points from the previous trading day.Germanys construction PMI for November was 45.2, compared to 42.8 in the previous month.On December 4th, the World Gold Council stated that gold experienced a remarkable 2025, hitting over 50 all-time highs and yielding returns exceeding 60%. This performance was supported by a combination of heightened geopolitical and economic uncertainty, a weaker dollar, and positive price momentum. Investors and central banks increased their gold allocations, seeking diversification and stability. Looking ahead to 2026, geopolitical and economic uncertainties will influence golds outlook. Gold prices broadly reflect consensus expectations for the macroeconomy, and if the current situation persists, prices are likely to remain range-bound. However, based on this years performance, 2026 could continue to be surprising. If economic growth slows and interest rates fall further, gold could see modest gains. Gold could perform strongly during a more severe economic downturn characterized by increased global risks. Conversely, if the Trump administrations policies succeed, accelerating economic growth and reducing geopolitical risks could lead to higher interest rates and a stronger dollar, thus pushing down gold prices. Other factors, such as central bank demand and gold recycling trends, could also influence the market. Most importantly, golds role as a source of portfolio diversification and stability remains crucial in a volatile market.ECB Executive Board member Cipollone: We expect the savings rate to decline, and if this does not happen, action will be needed.ECB Executive Board member Cipollone: (When asked if it was too early to announce the end of interest rate cuts) If our assumptions fail to materialize, we will need to take action because there are still many risks ahead.

Mexico's Pemex Says the Fire at the Salina Cruz Refinery has been Extinguished

Aria Thomas

Apr 18, 2022 09:45

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The blaze began on Friday and quickly devoured a gasoline storage tank, sending a thick cloud of black smoke pouring from inside the refinery.


Pemex said that firemen had completed the tank's "suffocation and cooling operations."


In August, another fire broke out at the Salina Cruz facility.


According to Eikon Refinitiv data, Salina Cruz has the ability to process 330,000 barrels of crude oil per day.


In November, another fire broke out at a Pemex refinery complex in northern Mexico, but it was quickly extinguished without resulting in any casualties or production disruptions.

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