Author: Fiona Craig

Gold prices remained steady during early Thursday trading in Asia, supported by a softer U.S. dollar following renewed political friction between former President Donald Trump and Federal Reserve Chair Jerome Powell. The stability in prices also came amid easing geopolitical tensions after a ceasefire between Israel and Iran.

Spot gold was flat at $3,336.65 per ounce, while August gold futures ticked up 0.1% to $3,347.45 by 01:08 ET (05:08 GMT). The metal had dropped earlier in the week as investor demand for safe-haven assets faded following news of the truce brokered by Trump.

Trump Criticizes Fed Leadership Amid Congressional Hearings

The dollar weakened after Trump launched a scathing attack on Powell, calling him “terrible” and suggesting a replacement might be imminent. Powell, testifying before Congress for a second day, reiterated his stance against rushing into interest rate cuts, warning that inflation driven by tariffs may linger longer than expected.

Trump’s remarks have reignited concerns over the Federal Reserve’s independence, weighing on the dollar and, in turn, supporting gold prices. The U.S. Dollar Index declined by 0.3% during Asian trading hours.

Safe-Haven Demand Softens as Ceasefire Holds

Despite the dip in the dollar, gold’s upward momentum remained limited. The continued ceasefire between Israel and Iran reduced geopolitical risk premiums, decreasing the urgency for investors to seek shelter in precious metals.

Platinum Surges on Supply Constraints, Industrial Demand

In the broader metals market, platinum led gains. Futures surged 1.6% to $1,372.60 an ounce, reaching their highest level since September 2014. The rally, which has seen platinum jump nearly 9% this week and 30% in June alone, is driven by robust industrial demand and tight supply conditions. Elevated lease rates and thin inventories have further fueled the rally.

Silver, Copper Benefit from Weaker Dollar and China Stimulus Hopes

Silver futures advanced 0.7% to $36.355 per ounce, benefiting from the weakened greenback and a brighter outlook for industrial demand.

Copper prices also gained ground. London Metal Exchange copper futures rose 0.5% to $9,770.35 per ton, while U.S. copper futures were up 0.3% at $4.94 per pound. The gains followed signals from Beijing that it will intensify efforts to revive domestic consumption, potentially through fresh stimulus measures aimed at bolstering economic activity.

Volex plc (LSE:VLX) delivered robust financial results for the fiscal year ending March 2025, with revenue climbing 19% to $1.09 billion and underlying operating profit rising 18.4%. The company’s performance was driven by solid demand in the Electric Vehicles and Consumer Electricals segments, complemented by strategic investments to expand its global manufacturing capabilities. Volex sustained healthy operating margins and proposed an increased dividend, reflecting confidence in its financial strength and execution. With a diverse market reach and a strong project pipeline, the company is well-positioned for continued growth.

Volex’s outlook is supported by solid revenue gains and disciplined cash flow management. While short-term technical indicators suggest some weakness, valuation remains balanced. Positive earnings trends and recent corporate developments boost investor confidence, though monitoring technical momentum will be key to assessing near-term upside.

About Volex plc

Volex is a leading global manufacturer specializing in power and data connectivity solutions for critical applications. Serving blue-chip customers across five key markets—Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology, and Off-Highway—Volex operates 27 manufacturing sites worldwide and employs 13,000 staff from 25 countries. Headquartered in the UK, the company is focused on innovation and global expansion.

Blue Star Capital plc (LSE:BLU) has boosted its ownership in SatoshiPay to around 50%, acquiring shares from key insiders and becoming the company’s largest shareholder. This move supports Blue Star’s objective to strengthen its digital asset treasury and improve liquidity support for its Vortex platform, reinforcing its foothold in the blockchain and payments sectors.

About Blue Star Capital

Blue Star Capital plc is an investment firm targeting emerging technologies, with a portfolio spanning blockchain, esports, and digital payments. Key holdings include SatoshiPay Ltd, which offers innovative payment solutions; Dynasty Media & Gaming, a B2B white-label gaming provider; Paidia, a gaming platform tailored for women; and Sthaler Limited, a company specializing in identity and payments technology.

Catenai PLC (LSE:CTAI) has successfully completed a fundraising round of up to £1.6 million through a combination of placing and subscription of new ordinary shares. The capital will be used to support its investment in Alludium Limited and to strengthen its core digital media operations.

In addition, Catenai is establishing a dedicated crypto treasury, focusing on Bitcoin and Bittensor, reflecting its commitment to integrating digital assets within its business strategy. This initiative aims to enhance long-term shareholder value and reinforce the company’s position as a forward-thinking technology leader in the digital media and AI sectors.

About Catenae Innovation PLC

Catenai PLC is an AIM-listed company delivering digital media and technology solutions designed to solve commercial challenges and unlock growth opportunities. The company is increasingly leveraging AI technologies and has deployed its platforms across corporate, government, and educational markets.

Steppe Cement (LSE:STCM) reported stable revenue growth for 2024, driven by increased cement consumption due to infrastructure demand, despite facing cost inflation and competitive pressures. The company completed an upgrade of its Line 6, enhancing clinker production, and maintained operational efficiency, although net profit declined due to rising input costs and currency effects. Looking ahead, Steppe Cement plans to focus on cost efficiency and strategic investments to support production growth while managing market competition and rising electricity costs.

More about Steppe Cement

Steppe Cement Limited operates in the cement industry, focusing on the production and distribution of cement and clinker primarily in Kazakhstan. The company maintains a significant market presence with a 14.5% market share, leveraging strategic pricing and operational efficiency to navigate a competitive domestic market.

Shell plc (LSE:SHEL) has officially dismissed recent rumors suggesting it is planning a takeover bid for BP plc. The company stated that no discussions or negotiations with BP have taken place regarding any acquisition. Shell reaffirmed its commitment to value creation through lower-emission energy solutions and sustainable growth.

While Shell emphasized that it maintains the right to revisit its stance under conditions specified by the UK City Code on Takeovers and Mergers, it currently remains focused on its strategic priorities, including strong earnings growth and ongoing share buyback programs.

Shell’s robust financial performance and clear strategic direction contribute to a positive market outlook. Although technical analysis signals bullish momentum, sector-specific challenges and broader economic uncertainties temper the overall investment sentiment.

About Shell (UK)

Shell plc is a leading global energy company engaged in oil and gas production, with a strong focus on transitioning to lower-emission energy solutions. The company aims to enhance shareholder value through operational excellence, financial discipline, and simplifying its business model.

Bluebird Mining Ventures Ltd. (LSE:BMV) has begun preparing a prospectus to raise at least £10 million, aiming to capitalize on its pioneering ‘gold plus digital gold’ approach. This strategy seeks to blend the enduring value of gold with the dynamic growth prospects of Bitcoin, positioning Bluebird as a leader in this emerging investment niche.

In addition to the fundraising, the company is considering a listing on the US Nasdaq OTCQB market to access a broader investor base. Strengthening its leadership team, Bluebird is also adding new non-executive directors to support its ambitious growth plans and strategic initiatives.

About Bluebird Mining Ventures

Bluebird Mining Ventures Ltd. operates across the pan-Asian region, focusing on gold project development. The company’s innovative approach integrates traditional gold assets with digital currencies like Bitcoin, offering investors a diversified strategy that balances stability with exposure to cryptocurrency growth.

Moonpig Group plc (LSE:MOON) has announced a strong financial performance for the year ending April 2025, with revenues climbing to £350.1 million and adjusted earnings per share rising by 18.1%. The company saw particularly robust growth in its Moonpig brand, driven by expansion in key international markets including the US, Australia, and Ireland.

While the Experiences division faced headwinds amid challenging market conditions, Moonpig remains focused on innovation, introducing AI-powered personalization features and planning further strategic investments supported by strong free cash flow. Looking ahead to fiscal year 2026, the company targets mid-single-digit EBITDA growth alongside sustained shareholder returns.

Moonpig’s outlook is underpinned by healthy cash flow generation and ongoing share buyback programs aimed at reducing high debt levels and improving its capital structure. Although valuation metrics are currently weak and financial risks remain, the company’s positive market momentum and prudent financial management contribute to a cautiously optimistic investment case. Continued emphasis on operational efficiency and capital structure optimization will be critical for future success.

About Moonpig Group Plc

Moonpig Group plc operates as a leading online retailer specializing in personalized greeting cards and gifts. Its portfolio includes well-known brands such as Moonpig, Red Letter Days, and Buyagift in the UK, as well as Greetz in the Netherlands. Leveraging proprietary technology and data analytics, Moonpig offers a wide variety of customizable products with next-day delivery options, enhancing customer engagement and scalability.

Made Tech Group PLC (LSE:MTEC) has reported strong financial results for the year ending 31 May 2025, with revenues expected to reach approximately £46.4 million—representing a 20% increase compared to the previous year. The company also forecasts adjusted EBITDA of around £3.4 million, a notable 42% improvement driven by enhanced operational efficiencies.

Significant new contract wins, including a key agreement with the Ministry of Justice’s Legal Aid Agency, have contributed to a sizeable increase in the company’s contracted backlog. With the UK government’s ongoing emphasis on digital transformation initiatives, Made Tech is strategically positioned to capitalize on expanding demand and aims to outperform market expectations in the coming year.

While Made Tech faces some financial pressures marked by revenue and profitability challenges, it maintains a strong balance sheet to support its growth ambitions. Technical indicators currently suggest weak momentum, and valuation metrics remain unattractive due to a negative price-to-earnings ratio. Nevertheless, recent strategic contracts and corporate developments provide a positive outlook for recovery and long-term value creation.

About Made Tech Group PLC

Made Tech specializes in delivering digital, data, and technology services to central government, healthcare, local authorities, and regulated sectors. The company’s mission centers on modernizing legacy systems, accelerating digital service delivery, improving decision-making through data and automation, and enhancing te

Ariana Resources (LSE:AAU) has released an updated economic assessment and Strategic Options Study for its Dokwe Gold Project in Zimbabwe, highlighting a marked improvement in key financial indicators. The refreshed model estimates a Net Present Value (NPV) of $354 million and an impressive Internal Rate of Return (IRR) of 75%, based on a gold price of $2,750 per ounce—significantly higher than previous projections at acquisition.

The project is planned to produce up to 100,000 ounces of gold annually over a projected 10-year mine life, with a rapid payback period of just 1.8 years from production commencement. These positive developments reinforce the strategic importance and strong potential of Dokwe, bolstering Ariana Resources’ position in the competitive gold mining sector.

About Ariana Resources

Ariana Resources PLC is an AIM-listed exploration and development company with a portfolio focused on gold projects across Africa and Europe. The company is committed to advancing its resource base and creating shareholder value through disciplined project development.