Flash: China’s manufacturing PMI below expectation for Jan

Platinum and palladium both closed lower this week, with relatively large declines. The US-Iran standoff pushed oil prices higher and reignited rate hike expectations, while US Treasury yields broke above 5.25% and the dollar strengthened, sending platinum and palladium down for two consecutive days. On Wednesday, Williams said there was no rush to act, cooling rate hike expectations and driving a rebound from oversold levels. Going forward, attention will turn to tonight's PCE data, nonfarm payrolls, and progress in US-Iran talks.

[SMM Gold Flash] Burkina Faso inaugurated RAFFINOR-BF in Ouagadougou on 28 September, the government and mines ministry said. The ministry reported that officials observed the refining of initial gold bars during a tour of the plant. It puts the first phase’s theoretical refining capacity at 164 tonnes a year; an additional phase would raise that to 515 tonnes a year. The government says the facility cost about CFA11 billion and was financed mainly through the state precious-metals company SONASP and private partners. The opening marks a step in Burkina Faso’s effort to refine industrial and artisanal gold domestically and retain more processing value. Capacity is a design figure, however: neither the inauguration nor the observed first bars establishes annual throughput, sustained operation or sufficient supply. Feedstock collection, refinery utilisation and the proposed expansion remain the figures to watch.