⛏ South Korea's Power Surge

PLUS: Gold Hits Record

👷‍♀️ Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and eat burgers. 🍔

📌 Commodity Prices

Source: Trading Economics, Numerco.

📝 Here are the highlights

😉 South Korea's Power Surge

💪 Gold Hits Record

🐦 Gold Futures Up to $2270 During Asian Trading. Welcome to Nirvana!

😉 South Korea's Power Surge

South Korea is extending the operating periods of its nuclear power plants, Wolseong Nuclear Power Plant Units 2, 3, and 4, due to rising electricity demands.

Despite previous plans to phase out nuclear power, there's now a push to extend their lifespans. Delays occurred in the extension process, but efforts are underway to expedite procedures.

The continued operation of nuclear plants is seen as vital for the industry's ecosystem and employment opportunities. Delayed procedures could result in expensive LNG power generation, increasing national energy costs.

Hence, there are calls to accelerate the review process for extending nuclear plant operations to mitigate these challenges.

While the plans seem promising, we're eager to witness their implementation and tangible benefits. We're on standby, ready to witness what happens next.

💪 Gold Hits Record

Gold reached a new record high amid expectations of a Federal Reserve interest rate cut in June. Spot gold hit $2,265.53 per ounce before settling at $2,247.16 per ounce.

US gold futures also rose to $2,265.70 per ounce. The Fed's preferred inflation gauge, along with tensions in the Middle East and China's increased bullion reserves, contributed to gold's rise. Despite positive outlooks from leading banks, such as JPMorgan Chase and Goldman Sachs Group, gold ETF holdings have decreased, indicating investor caution.

Ah, nothing like record-high gold prices fueled by potential economic turmoil and geopolitical unrest to inspire confidence in the stability of global markets, especially when investors are eagerly pulling out of gold ETFs like it's going out of style.

📰 In Other News

🐦 Gold Futures Up to $2270 During Asian Trading. Welcome to Nirvana!

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The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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