Money

Power prices soar despite wholesale energy prices dropping

Published

2 years ago

July 27, 2023

ticker NEWS

Wholesale electricity prices in Australia have experienced a substantial drop of 59 per cent over the past year, according to the Australian Energy Market Operator (AEMO).

This decline comes despite households in eastern Australia facing an increase of up to 30 per cent in retail power prices.

The AEMO’s quarterly report attributes the fall in wholesale prices to several factors, including increased coal-fired electricity generation due to lower outages, the growing presence of renewable energy sources (like wind and solar), and improved market conditions.

On the retail front, customers have seen their power bills rise by 20 to 30 per cent in certain states since July 1.

Energy analysts explain that this rise is a delayed response to the wholesale price increases seen the previous year. While the wholesale price has dropped year-on-year, there was a 31 per cent increase between the first and second quarters of this year, partly influenced by weather conditions and transmission issues.

Despite the drop in wholesale prices, it may not immediately translate to lower retail bills, as the retail market operates a year ahead of the wholesale market.

Nevertheless, experts anticipate that the shift towards renewable energy sources will ultimately lead to greater stability and potentially lower prices for consumers in the long run.

Money

Bitcoin declines to $104,782 amid trade tensions

Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets

Published

12 hours ago

October 12, 2025

Ahron Young

Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets

In Short:
– Bitcoin dropped to $104,782 due to heightened US-China trade tensions.
– The S&P 500 Index fell over 2% amid escalating market uncertainty.

Bitcoin fell to $104,782 amid escalating US-China trade tensions.On October 10, U.S. President Donald Trump announced a significant increase in tariffs on Chinese goods, raising them to 100%.

The decision follows China’s recent restrictions on rare earth mineral exports, which are crucial for various technologies and manufacturing sectors.

The trade dispute affected global markets, resulting in a more than 2% decline in the benchmark S&P 500 Index.

Bitcoin experienced an 8.4% drop at $104,782 by 17:20 ET, while Ethereum, the second-largest cryptocurrency, fell by 5.8% to $3,637 at 17:21 ET.

Money

Gold plunges as investors react to Middle East ceasefire

Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.

Published

3 days ago

October 10, 2025

ticker NEWS

Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.

Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.

The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.

Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.

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Money

Gold and silver prices drop after Gaza ceasefire

Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

Published

3 days ago

October 10, 2025

Ahron Young

Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

In Short:
– Gold prices fell over 2% to below $4,000 per ounce due to a stronger dollar and profit-taking.
– Silver eased to $48.93 per ounce, influenced by market activity and ongoing high demand despite supply issues.

Gold prices fell over 2% on Thursday, dropping below $4,000 per ounce. The decline followed a strong rise earlier in the year and was influenced by a stronger dollar and profit-taking after a ceasefire deal between Israel and Hamas.Spot gold decreased to $3,959.48 per ounce, while U.S. gold futures for December delivery settled at $3,972.6.

Silver also experienced a slight decline, easing from its record high to $48.93 per ounce. The dollar index increased, making gold more expensive for overseas buyers.

Traders noted increased activity in the market as profit-taking coincided with reduced tensions in a historically volatile region.

An independent metals trader stated that while gold and silver may need to consolidate further, the underlying demand drivers remain intact.

Market Overview

Gold surpassed $4,000 per ounce on Wednesday, reaching $4,059.05, boosted by geopolitical tensions and strong demand from central banks. The asset has gained about 52% this year, reflecting a significant increase due to various economic factors. The U.S. central bank’s decision to cut rates in September also contributed to the rally, with expectations for future cuts in the coming months.

Silver’s price increase of 69% this year is tied closely to similar economic trends impacting gold. Notably, liquidity issues in the silver market are being exacerbated by strong demand and tight supply conditions. Other precious metals, such as platinum and palladium, also saw declines during this period.