Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.
Tesla announced a recall for 1.1 million electric cars
Tesla reported about the malfunction in its automatic window reversing system. The problem related with the window system has been detected in about 1.1 million cars. Such a problem increases the risk of injury to passengers.
According to the statements made by the representatives of the company, some windows were found to be malfunctioning during production testing. Tesla announced that the problem would be fixed remotely through a software update. Car owners would not have to address to a service center.
According to Tesla's filing with federal safety regulators, the electric vehicle manufacturer is not aware of any accidents, injuries, or deaths caused by the malfunction. The owners also have not filed any complaints against the company. The problem was discovered during testing.
Tesla (TESLA) has recalled cars several times so far. As a result, the National Highway Traffic Safety Administration obliged the company to make changes in vehicle design. In this case, the window automatic reversal system issue is considered a manufacturing flaw.
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Energy and Precious Metals Market events for February 2-3, 2023
Last year recorded an increased demand for gold up to the levels of 2011
Exxon Mobile is criticized for $56 billion profit
White House Supports Alaska Oil Project
Aluminum buyers from Japan agreed to pay extra charges in the first quarter
Latest news
Last year recorded an increased demand for gold up to the levels of 2011
1 February
Exxon Mobile is criticized for $56 billion profit
1 February
The White House expressed a negative assessment of the record profit of Exxon Mobile in 2022. The company earned $56 billion, and it’s a maximum for both itself and the whole oil industry of Western countries.
White House Supports Alaska Oil Project
1 February
The US Interior Department’s Bureau of Land Management supports an accelerated plan of oil production. It includes 3 new wells across the Willow site in the Petroleum Reserve-Alaska, instead of having 5 wells predetermined earlier.
Energy and Precious Metals Market events for February 2-3, 2023
2 February
On February 2, the focus is on natural gas reserves in the United States. On February 3, data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold, silver, aluminum and copper are on the agenda.
Aluminum buyers from Japan agreed to pay extra charges in the first quarter
1 February
Japan was buying aluminum at a surcharge. Shipments from January to March were at $85-86 per ton, which is 13-14% less than in the previous quarter. Resources report weak demand and strong reserves of aluminum.