Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Money managers’ bullish wagers on gold jumped to the highest in more than four years as the precious metal registered successive highs after Federal Reserve’s first interest-rate cut since 2020.
Hedge funds and other large speculators boosted net-long positions by 0.9% to 254,841 as of Sept. 24, the highest since March 2020, weekly US government data showed on Friday.
The precious metal reached an all-time high of $2,685.58 an ounce this week, capping a series of record highs amid optimism of further rate reductions by the US central bank.
(By Yvonne Yue Li)
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