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Business Standard
11-06-2025
- Business
- Business Standard
Silver price outlook: Analyst suggest buying on dips; key levels to watch
Spot silver traded between $36.30 and $36.84 on June 10 and closed with a loss of 0.40 per cent at $36.59 as investors waited for US-China trade talk outcome. The white metal is trading steady at the time of writing this article. US-China trade talks concluded: US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer met a Chinese delegation led by Vice Premier He Lifeng at London's Lancaster House. US negotiators announced early Wednesday that the United States and China agreed to a preliminary deal on how to implement the consensus the two sides reached in Geneva, which involved lower tariff rates on each other. The US delegation absolutely expects that issues around shipments of rare earth minerals and magnets will be resolved with the framework implementation. Lutnick called the agreement "a handshake for a framework' to "start to implement that framework" as long as both Trump, and Chinese President Xi approve. US appeals court allows Trump tariffs to stay for now: The US Court of Appeals for the Federal Circuit has allowed Trump's tariffs to remain in effect while legal appeals continue. UK mandates solar panels for new homes: In a positive development for silver demand, UK government Energy Secretary Miliband confirmed on June 6 that the forthcoming Future Homes Standard will make installing solar panels on new homes 'almost universal' in England, barring rare exceptions where a PV installation would make no difference to energy efficiency. He called this step to be a 'rooftop revolution'. Riots in Los Angeles: The Trump Administration has deployed 700 Marines who will join the roughly 2,000 California National Guard troops stationed in Los Angeles over the weekend, US Northern Command announced Monday. Riots in Los Angeles erupted on June 6 after Immigration and Customs Enforcement (ICE) raids in the city and the situation remains tense. As a political fallout of the riots, California's Governor Gavin Newsom may be arrested. Newsom said on Monday that he might take legal action over the planned use of Marines as he called their deployment 'illegal' and 'a blatant abuse of power". It has been reported that many other cities like Boston, Houston and Philadelphia joined Los Angeles in protests on Monday. Data roundup: UK's monthly job report (April), released on Tuesday, was somewhat weaker than expected as average weekly earnings 3M Y-o-Y came in at 5.3 per cent compared to the estimate of 5.5 per cent, while weekly earnings ex-bonus 3M/Y-o-Y at 5.2 per cent fell short of the forecast of 5.3 per cent. Employment change 3M/3M at 89K was better than the forecast of 40K. Claimant count rate edged higher from 4.4 per cent in April to 4.5 per cent in May. Jobless claims in May rose by 33.10K. US NFIB small business optimism (May) 98.80 topped the estimate of 96. US treasury auction: US 3-year treasury bond sale worth $58 billion went smooth on Tuesday, which led to lower yields. Focus will be on Thursday's 30-year bond auction, which is expected to be more challenging given the weakening demand for long-term bonds globally. ALSO READ | US Dollar Index and yields: At the time of writing, the US Dollar Index, is trading with a gain of 0.11 per cent at 99.15. US 10-year and 30-year yields are a tad lower at 4.46 per cent and 4.92 per cent respectively. Silver ETF: Total known global silver ETF holdings stood at 753.21 MOz as of June 9, which is the highest level since May 2023. Silver ETF holdings are up over 5 per cent YTD as holdings rose for the fourth straight week in the week ending June 6. China's silver imports: China imported 273.732 tons of silver in April, a rise of 12 per cent m-o-m, though a decline of 20 per cent Y-o-Y. Upcoming data: Investors look forward to US CPI and PPI data (May) to be released June 11 and June 12 respectively. Going by the estimates, CPI readings are likely to be hotter than the prior month readings. Outlook: Silver has shattered a 14-year ceiling as it surged above $35 level. Gold/silver ratio has fallen nearly 14 per cent from the cycle peak of around 105 to 91 presently. Huge ETF inflows and UK's solar mandate are positive developments for the metal. As Gold/Silver ratio has a strong support at 90, silver is expected to move in line with gold in very short term. US-China trade talk outcome is somewhat underwhelming as key issues of China's exports of rare-earth magnets remain unresolved, which may impair risk appetite to some extent, leading to a slightly higher gold/silver ratio. Overall, dip buying is advisable. Silver is likely to test the resistance at $37.50 (MCX July contract ₹109,000). A decisive breach of this resistance will open the way for $40 (₹116,500)—the psychological resistance. The white metal is expected to rise to $42 (₹1222,000) in the coming weeks. Support is at $35.90 (₹104,700)/$35 (₹102,000)/$34 (₹99,200).
E&E News
09-06-2025
- Business
- E&E News
Here comes the sun: Vast majority of new UK homes to be fitted with solar panels
LONDON — The vast majority of new U.K. homes will have rooftop solar panels installed by default, the government has announced. The new policy will mean residents of new-build homes will save up to £530 per year compared with the energy price cap, the government estimates. The announcement comes in advance of the Future Homes Standard, to be published in autumn, which will set the regulations and guidelines for newly built homes. Advertisement The government confirmed Friday that solar panels will be included in that plan, leading to installations across the vast majority of new homes.
Yahoo
09-06-2025
- Business
- Yahoo
Half of SME housebuilders ‘to be bust by next election', report to warn
Half of Britain's 2,500 remaining smaller housebuilders could crash into insolvency by the end of this parliament as a consequence of the cost of industry regulations, a report will warn this week. Sky News has seen a document to be published on Tuesday - ahead of the government's spending review - which will refer to "a perfect storm of costs" that threatens to wipe out the profits of SME housebuilders. The bleak forecast is the principal conclusion of a report produced jointly by the public affairs firm WPI Strategy and ChamberlainWalker, an economics consultancy specialising in housing and planning. It casts a fresh shadow over the government's target of building 1.5m homes during the course of this parliament - one of its most important manifesto commitments ahead of last year's landslide victory. Money latest: On Monday, ministers said the use of a new artificial intelligence tool would facilitate the acceleration of planning permissions by reducing the reliance on paper documents. "For too long, our outdated planning system has held back our country- slowing down the development of vital infrastructure and making it harder to get the homes we need built," Sir Keir Starmer said. "This government is working hand in hand with business to change that. With [new AI tool] Extract, we're harnessing the power of AI to help planning officers cut red tape, speed up decisions, and unlock the new homes for hard-working people as part of our Plan for Change. "It's a bold step forward in our mission to build 1.5 million more homes and deliver a planning system that's fit for the 21st century." The WPI/ChamberlainWalker report will warn, however, that at the current rate of failure among SME builders, as many as 75,000 fewer homes would be built by smaller housebuilders before the next general election is due to be held in 2029. It will say that recently introduced regulations such as the Building Safety Levy have added close to £5bn of annual costs to housebuilders. The Future Homes Standard, Biodiversity Net Gain, accessibility rules and electric vehicle charging requirements are among the other incremental costs facing the sector. Labour and materials costs are also rising, while house prices have flatlined, adding to the pressure on the industry, with smaller players disproportionately affected, the report will add. Sean Worth, a director at WPI Strategy, said: "A diverse range of housebuilders is important to ensuring the country is able to meet its headline housing target. "It is also critical to maintaining a competitive market." "The government has rightly acknowledged the importance of supporting small and medium sized builders. "However, a perfect storm of costs inherited from the past few years as well as additional regulatory burdens means that without urgent assistance we could see half all of SME builders starting insolvency proceedings by the end of the parliament."
The Sun
06-06-2025
- Business
- The Sun
Solar panels will be installed on almost every new-build home in England under new green rules
SOLAR panels will be slapped on almost every new build home in England under sweeping green rules due this year. Energy Secretary Ed Miliband called it 'just common sense' and claimed it would save families £500 a year. New regulations will force developers to fit panels unless buildings are in deep shade or another rare exemption applies. The Home Builders Federation said it backed fitting more panels but cautioned against introducing "burdensome" paperwork which it said could harm government efforts to build 1.5 million new homes by 2029. The crackdown will be part of the Future Homes Standard, due to be published this autumn with a transition period for builders to adjust. It goes further than a Tory plan, which let firms off the hook entirely if they couldn't meet the 40 per cent rooftop coverage target. The announcement comes days after Labour scrapped planning rules to make installing heat pumps easier as part of its push to hit net zero by 2050. Tory leader Kemi Badenoch has slammed the target as 'impossible' without 'a serious drop in our living standards or by bankrupting us', while Reform UK want it ditched altogether, warning it's pushing up energy bills for working families. Scots charity uses power of the sun to save lives 1
South China Morning Post
06-06-2025
- Business
- South China Morning Post
UK plans solar panel ‘revolution' for new homes
New homes built in Britain will have rooftop solar panels 'by default', reducing energy bills and helping to meet carbon-reduction targets, the Labour government announced on Friday. Prime Minister Keir Starmer's party wants 1.5 million new homes built by 2029 amid a housing shortage, a figure many experts believe is optimistic. Energy Secretary Ed Miliband said proposals announced on Friday mark 'a monumental step in unleashing this rooftop revolution'. The government said: 'New homes will also have low-carbon heating, such as heat pumps and high levels of energy efficiency, cutting people's energy bills and boosting the nation's energy security with clean, home-grown power.' It added in a statement that 'a typical existing UK home could save around £530 (US$717) a year from installing rooftop solar'. 02:08 Dozens dead as monsoon rains and landslides wreak havoc in northeast India Dozens dead as monsoon rains and landslides wreak havoc in northeast India 'The proposed Future Homes Standard would see building regulations amended to explicitly promote solar for the first time, subject to practical limits with flexibility in place for new homes surrounded by trees or with lots of shade overhead,' the government said.
