Economy

Gold Price
Gold Below $4,500 – Worst Week Since 1983

Gold fell below $4,500 per ounce on Friday night, a sharp drop from last Friday’s close of over $5,000. The decline of around 10 percent means this week’s decline is the biggest since 1983, according to Bloomberg.

The main explanation for the precious metal’s heavy fall is the changed view of the Federal Reserve and increased likelihood of an interest rate hike later in the year.

Oil Market
Diesel has surged 40 percent – ​​still lower than 2022

Fuel prices continue to rise and a liter of diesel cost around SEK 24.50 on Friday, which is 40 percent higher than before the start of the Iran war. At the same time, the price of gasoline has risen just over 25 percent to around SEK 19 per liter, according to TT.

During the 2022 energy crisis, diesel cost more than 28 kronor at most, while gasoline cost around 24 kronor.

Energy attacks
It may take five years to restore the gas plant in Qatar

Wednesday's Iranian missile attack on the Ras Laffan gas plant outside Doha has caused damage that will take up to five years to restore. This is stated by the state-owned Qatar Energy according to Reuters. 17 percent of the plant's export capacity of liquefied natural gas, LNG, has been knocked out.

Handelsbanken's commodity analyst Christian Kopfer believes that the escalation and the threat of damaged infrastructure could take the problems to a new level.

- Then the Strait of Hormuz will no longer be the biggest problem, he tells DN.
 

Tesla's future
Tesla considers buying solar equipment from China

The American electric car manufacturer Tesla is investigating buying equipment worth 2.9 billion dollars for the production of solar panels and cells from Chinese suppliers, two people with insight tell CNBC.

Tesla CEO Elon Musk has a goal of adding 100 gigawatts of solar capacity in the United States, and in January he said that solar energy could meet all of America's electricity needs.