Economy

Gold price
Gold falls below $4,000 – dollar and interest rates fall

The gold price takes a hit and falls below the $4,000 level for the first time since November. Several media outlets are reporting this.

At 3:35 p.m., gold fell by over 3 percent to $3,985 per ounce, before recovering slightly.

The strengthening dollar and increased belief in rising interest rates are putting a damper on the three-year rally, analysts say.

“The main driving force behind gold’s recent decline is that expectations for how interest rates will develop going forward have changed significantly,” writes ING strategist Ewa Manthey, according to Bloomberg.

Deutsche Bank is raising a warning finger about the outflows from so-called exchange-traded funds that follow the price of gold as an underlying asset. One light in the dark, however, is that demand from central banks, not least in China, appears to remain strong, the bank says.

Oil market
Oil below $75 for first time since war broke out

The price of Brent crude fell below $75 a barrel in the early afternoon for the first time since the start of the Iran war, writes Bloomberg.

At most, oil was down 3.1 percent on Wednesday to its lowest level since February 27 this year.

Ships are now passing through the strait with their satellite transmitters activated, which indicates increased confidence among shipping companies. In addition, the International Maritime Organization IMO believes that it has received safety guarantees that will enable hundreds of ships to leave the Persian Gulf.

Donald Trump claimed during the afternoon that Iran will not charge any fees to ships passing through the strait.

Middle East Crisis  Economic Impact
Oil Freight Rushes – Charged 897 Percent of Normal Rate

The crisis in the Strait of Hormuz is pushing up freight rates and India has now booked an oil tanker at a price that is 897 percent of normal, sources tell Bloomberg.

The ninefold increase in the price tag is said to be the most expensive freight so far this year.

The unusually high price reflects the lack of available empty ships in the region, the news agency writes.

The ship from the South Korean shipping company Sinokor is a so-called supertanker with a capacity for around two million barrels of oil.

SAS's Future
SAS Avoids Strike – Norwegian Unions Agree on New Agreement

The Norwegian unions Parat and Fellesforbundet have agreed with SAS on a new collective agreement. This means there will be no strike among SAS cabin crew in Norway. This is reported by NRK.

The parties agreed on a new agreement after mediation that lasted more than 15 hours after the deadline expired.

– I am very pleased that we have landed a balanced agreement for our members in SAS, says Fellesforbundet's negotiation leader Dag Einar Sivertsen.

He describes the agreement as sufficient for the members to receive real wage development in line with the mark in the industry.

Today's stock market
Warns of setbacks in the tech rocket: "Could go to 1000 dollars"

Chip giant Micron is up 270 percent so far in 2026, making the chip giant one of Wall Street's best stocks this year.

But after the interim report tonight, which comes after the stock market closes, the stock could fall. That's what Freedom Capital Markets strategist Jay Woods predicts, according to CNBC.

– It could go down to 1000 dollars, he says.

Woods points out that it is likely a level that many traders will be watching, “because it is closer to the 20-day moving average.”

Analysts expect Micron to report earnings of $20.83 per share and revenue of $35.75 billion, according to Factset. The stock rose 1.5 percent on Wednesday. 

The AI ​​race
AI rocket Hynix plans dual listing in the US

South Korean memory chip maker SK Hynix is ​​planning a US stock market debut, Bloomberg reports.

The company aims for 17.8 million new depositary receipts for the stock to begin trading on Nasdaq in New York on July 10, according to a filing with US authorities.

Hynix hopes the new listing will broaden its investor base and give the company a higher stock market valuation, they write according to Yahoo Finance.

On Monday, SK Hynix temporarily overtook Samsung as South Korea's most valuable listed company after surging about 350 percent since the turn of the year.