Copper price crash deepens as recession fears loom over metals trading

Scott Keogh, chief executive of Volkswagen Group of America, said the move to EVs is the single biggest "industrial transformation in America."

While Powell sounded relatively dovish, actions speak louder than words.

Bullion continued its rise after the Fed approved its largest interest rate increase since 1994.

Outlook for demand deteriorated after the US Federal Reserve’s large rate hike fueled worries about recession and data from China indicated weak growth.

Blame it on rapidly worsening investor sentiment, with US stocks entering a bear market because of soaring inflation and higher interest rates that threaten to trigger a recession.

As global markets wilt on fears of stagflation, gold has stayed relatively resilient given its haven status.

The turmoil that rocked financial markets this week has done little to shake the optimism around global mining at PDAC.

The bank kept its upside outlook for the gold price but delayed the path by revising its three and six-month targets.

The US government has been working with Canada to boost regional supply chains to counter China's dominance in the sector.