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Iron
ore, gold, copper and Bitcoin rise
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Roy
Morgan Summary
April
19, 2024
Australian
Dollar: $0.6420 USD (down 0.0020 USD)
Iron
Ore May Spot Price (SGX): $116.55 USD (up $0.70 USD)
Oil
Price (WTI): $82.53 USD (down $0.33 USD)
Gold
Price: $2,378.14 USD (up $17.05 USD)
Copper
Price (CME): $4.4310 USD (up $0.0900 USD)
Bitcoin:
$63,661.45 (up 3.83% in last 24 hours)
Dow
Jones: 37,775.38 (up 22.07 points on yesterday's close)
News
Broken
Hill's union-run newspaper the Barrier Truth announces
closure after nearly 130 years
Roy
Morgan Summary
Barrier
Industrial Council president and Barrier Truth board
chair Roslyn Ferry has confirmed that the union-run
newspaper is to cease publication after nearly 130
years, saying it breaks her heart to close down its
operations. Formerly known as the Barrier Daily Truth,
the closure of the paper comes after Broken Hill,
a mining town located on the edge of the desert in
NSW, lost its commercial news bulletin a year ago.
Regional and rural independent newspapers are closing
in increasing numbers, and media experts say Meta's
recent decision to remove the News tab on Facebook
is unlikely to help the situation.
In
economics, a commodity is an economic good or service that has full or substantial
fungibility: that is, the market treats instances of the good as equivalent or
nearly so with no regard to who produced them. The
price of a commodity good is typically determined as a function of its market
as a whole: well-established physical commodities have actively traded spot and
derivative markets. The wide availability of commodities typically leads to smaller
profit margins and diminishes the importance of factors (such as brand name) other
than price. Most
commodities are raw materials, basic resources, agricultural, or mining products,
such as iron ore, sugar, or grains like rice and wheat. Commodities can also be
mass-produced unspecialized products such as chemicals and computer memory. Hard
and soft commodities Soft
commodities are goods that are grown, such as wheat, or rice. Hard
commodities are mined. Examples include gold ,silver, helium, and oil. Energy
commodities include electricity, gas, coal and oil. Electricity has the particular
characteristic that it is usually uneconomical to store, and must therefore be
consumed as soon as it is produced. (Wikipedia) Cash
Crop A
cash crop or profit crop is an agricultural crop which is grown to sell for profit.
It is typically purchased by parties separate from a farm. The term is used to
differentiate marketed crops from subsistence crops, which are those fed to the
producer's own livestock or grown as food for the producer's family. In earlier
times cash crops were usually only a small (but vital) part of a farm's total
yield, while today, especially in developed countries, almost all crops are mainly
grown for revenue. In the least developed countries, cash crops are usually crops
which attract demand in more developed nations, and hence have some export value. Prices
for major cash crops are set in commodity markets with global scope, with some
local variation (termed as "basis") based on freight costs and local
supply and demand balance. A consequence of this is that a nation, region, or
individual producer relying on such a crop may suffer low prices should a bumper
crop elsewhere lead to excess supply on the global markets. This system has been
criticized by traditional farmers. Coffee is an example of a product that has
been susceptible to significant commodity futures price variations. (Wikpedia) Forex
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