The Good Morning Report – 27th of June

1. Aussie inflation rate pushed back up to 4% which means the RBA could be forced to raise rates at it’s next meeting.

2. VW announced it is investing US$5bn into the Amercian EV company Rivian. Interesting to see VW going against the trend of the major autos who have been scaling back their EV ambitions….Time will tell if this news is enough to turn the sentiment in the now decimated LITHIUM sector.

3. Indian PM Modi is set to visit Vlad in Russia early next month….Modi is smart and doing what’s best for India as he stays chummy with both sides.

4. After building a house of cards at Lend Lease (LLC), Steve McCann is now taking the top job at Star (SGR) with a nice little $2.5mil sign on bonus to boot….One positive for SGR shareholders though – with the stock @ 47c there is not much value left for Stevo to have a go at destroying.

5. There was a landslide at Victoria Gold’s Eagle mine in Canada – fortunately no one died, but the stock (listed in Toronto) crashed 80%.

ASX down 55 points 7783

Our market gave back about half of the previous sessions gains as inflation came in higher than expected. Consumer discretionary stocks closed mostly lower on fears higher interest rates in the future could translate to weaker retail sales. Harvey Norman fell 8.3%, JB Hi Fi dropped 2.63% while SuperCheap (SUL) finished up 3.13% thanks to UBS upgrading the stock to a BUY.

AVOID investing in South Africa….

I’m expecting serious disruptions and potential closures of key mines across the country as guys like this create rage amongst the mob. So ultimately, this madness is super bullish for PLATINUM and PALLADIUM bullion because South Africa is the world’s dominate miner of both metals…..If supply falls of a cliff, prices will have to skyrocket.

BUY ETPMPT & ETPMPD

  • SPI down 88 points
  • Bitcoin down 1.8% to $60,776
  • BHP in US up 0.63%
  • Newmont in US down 1.07%
  • URNM in US up 1%

Movements affecting our resource stocks today (USD)

  • Gold down 0.9% to $2309
  • Paper Silver down 0.3% to $28.78
  • Platinum up 3.12% to $1030
  • Palladium down 1% to $926
  • Copper down 0.33% to $4.36
  • Brent Crude FLAT @ $84.97
  • Iron ore up 3.2% to $106.60

Japan up 1.26%, Hong Kong FLAT, China up 0.76%

Here is the footage that that shows the beginning of the tragic LITHIUM fire in South Korea…..These batteries are nasty for the environment and can be extremely volatile.

The poor workers suffered the ultimate fate as they obviously didn’t know that lithium battery fires can’t be put out.

DOW up 15 points to 39,127

Amazon shares rallied 3.9% to a fresh all time high with it’s market value now above US$2 trillion.

Inflation for brekky and dinner….

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