Japanese investors are buying gold to store in Switzerland because of negative interest rates and fears the yen will depreciate as the government grapples with the heaviest public debt burden in the developed world.
Hedge funds boosted their bets on price gains for bullion to an all-time high just two days before U.K. voters took to the polls and decided to leave the European Union, sending global markets roiling.
A major Japanese electronics maker approached First Majestic Silver Corp. for the first time last month seeking to lock in future stock, a sign of supply concerns that could boost the metal’s price ninefold, according to the best-performing producer of the metal.
Cooler weather is helping to control a blaze in Canada’s oil sands region and allowing Suncor Energy Inc. and Syncrude Canada Ltd. to start getting back to work.