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Futures News, August 11th: Oil prices continued to rise, and positive news and cost guidance for fuel oil fuels fueled the upward trend in refineries. However, downstream traders remained cautious in their purchasing, hesitant to place orders at high prices, with market transactions primarily driven by immediate needs, thus limiting further price increases. It is expected that fuel oil trading today will see some areas remain stable, with some experiencing slight increases.According to Futures News on August 11, as of 8:30 AM Beijing time, spot platinum rose 0.53% and spot palladium rose 0.72%.Singapores Ministry of Trade and Industry has revised its 2026 non-oil domestic export growth forecast upward from 3.0%-5.0% to 14.0%-16.0%.On August 11th, Futures News reported that precious metal prices fluctuated and strengthened on Monday, with international gold prices approaching their highest level since mid-June. Domestic Shanghai gold and silver futures prices both rose by more than 2%, indicating a significant recovery in market bullish sentiment. 1. "Recently, multiple positive factors have converged to drive the rise in gold and silver prices," said Bai Suna, chief precious metals analyst at Guomao Futures. She explained that the simultaneous weakening of geopolitical and macroeconomic negative factors has laid a solid foundation for the rebound in gold and silver prices. On the one hand, the Strait of Hormuz signaled a peace talks, and the decline in oil prices eased upward pressure on US inflation, reducing the impact of geopolitical conflicts on the market. On the other hand, US non-farm payrolls and ADP employment data for July were all weak, with non-farm payrolls significantly lower than expected, cooling expectations for a Fed rate hike and pushing down the dollar and US Treasury yields, easing valuation pressures on precious metals. 2. Looking ahead, analysts generally believe that the short-term fluctuation and medium-to-long-term upward trend in gold and silver prices remains unchanged. Bai Suna stated that the logic of a medium-to-long-term upward trend in gold and silver prices remains unchanged. With factors such as the gradual decline in US inflation, the continued weakening of negative macroeconomic factors, limited upside potential for US Treasury real interest rates, and the ongoing global de-dollarization process, the gold bull market is expected to continue. Overall, gold and silver prices are currently at a cyclical bottom, and market volatility is high. Investors are advised to closely monitor three core variables: geopolitical tensions, inflation data, and Federal Reserve policy, avoid blindly chasing the market higher, and manage their positions prudently.August 11th - According to sources familiar with the matter, Intel (INTC.O) is seeking to expand its stock offering to approximately $20 billion, a third higher than the $15 billion target set when it announced the deal Monday morning. The sources indicated that Intel expects to offer shares at approximately $95 per share or higher. One source stated that if the so-called over-allotment option is exercised, the offering could further expand to over $20 billion, and demand for the offering has already exceeded $100 billion. The sources indicated that discussions are ongoing, and details, including the offering size and pricing, are still subject to change.

High Mortgage Rates Force First-time Buyers to Rent, According to Rightmove

Aria Thomas

Nov 25, 2022 14:27

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The property website Rightmove (OTC:RTMVY) said on Friday that the demand for rental homes in the United Kingdom surged in October as prospective first-time buyers postponed their purchases owing to rising mortgage rates.


However, the total number of renters and purchasers on the market declined by 1% compared to the same period previous year.


In recent months, mortgage rates in the United Kingdom have risen beyond 6%, increasing after the "mini-budget" of former prime minister Liz Truss on September 23 rattled financial markets.


Since then, rates have fallen due to Jeremy Hunt's Autumn Statement, which guaranteed stamp duty reductions through March 31, 2025.


According to Britain's largest property marketplace, first-time buyers have been significantly impacted by the hike, prompting them to consider renting in the near future while they await the inevitable stability of mortgage rates.


Tim Bannister, a property expert at Rightmove, commented, "It is very understandable why some buyers, especially first-time buyers, are waiting for better financial stability."


Now that there are indicators that mortgage rates are stabilizing, it is probable that they will settle at a higher level than buyers in the past have experienced.


42% of prospective first-time buyers who intend to enter the property market over the next several years have already amassed their entire down payment while awaiting a reduction in interest rates. 43% more were engaged in savings.


Tenants are already facing a large increase in expenses owing to the rising costs of electricity, fuel, food, and council tax, which are reflected in the statistics.


As a result of the highest rate of inflation in 41 years, real wages are decreasing, placing incomes under the most severe pressure in decades.

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