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October 18, 2024

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At DecisionPoint, we track intermediate-term and long-term BUY/SELL signals on twenty-six market, sector, and industry group indexes. The long-term BUY signals are based upon the famous Golden Cross, which is when the 50-day moving average crosses up through the 200-day moving average. (We use exponential moving averages — EMAs.) Intermediate-term BUY signals are based upon the 20-day moving average crossing up through the 50-day moving average, which we call a Silver Cross. On the McDonalds (MCD) chart below, you can see examples of each.

A caveat that comes with the signals is that they are information flags, not action commands. A new signal tells us to look at the chart and decide if any action is appropriate. In the case of these two crossovers, they were healthy-looking signals, with price showing clear changes of direction within each timeframe.

Next we have the DecisionPoint Market Scoreboard, which we publish daily in the DecisionPoint ALERT. It is current as of the close on October 17, 2024, and it is as good as it can get. This is good news and bad news. The good news is that the stock market is looking very healthy in terms of raw price action. The bad news is that the signal status is as good as it gets, and the pendulum will be swinging the other way, probably sooner than later.

Along with the signal tracking, we have created the Silver Cross Index (SCI) and Golden Cross Index (GCI) for each of the market/sector indexes above. The Silver Cross Index shows the percentage of index components that are on a Silver Cross BUY signal. The Golden Cross Index shows the percentage of index components that are on a Golden Cross BUY signal.

The chart below is for the S&P 500 Index. Note that both the GCI and SCI show 80 percent of S&P 500 component stocks are on BUY Signals in both time frames. This is not as strong as in 2021, but it is very solid and partially backs up what we see on the DecisionPoint Market Scoreboard.

Conclusion: We check these charts every day, and are always aware of developing weakness and potential for signals to change. In the last few weeks, I found the picture to be unusually stable, and currently with no immediately impending signal changes. This, of course, could change in a heartbeat, but, for the moment, calm prevails. As I said, when things are as good as they can get, we should be alert for conditions to start deteriorating, but so far, so good.


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Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin


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Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.


Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules


When the market is rallying in full swing, it can sometimes be difficult to select which stocks, among the hundreds, might present the best case to buy. For spotting the strongest stocks on a technical basis, the StockCharts Technical Rank (SCTR) can be an essential tool.

There are many ways to use the SCTR Report. One would be to pull the top-performing stocks. Another strategy is to view the Top Up tab in the SCTR Reports panel on Your Dashboard to find the stocks with the biggest SCTR moves. 

Dell Technologies (DELL) may not be leading the top 10 pack, but it’s beating hundreds of stocks that happen to be rallying as of this writing. Note: this can change during the trading day.

FIGURE 1. SCTR TOP UP REPORT. Despite DELL occupying 7th place at the moment of writing, it’s still among the top stocks gaining more technical strength in the US stock market.Image source: StockCharts.com. For educational purposes.

Dell Stock’s Price Action

Dell’s upward run is a continuation of the bullish reversal that started in August, as you can see in this weekly chart.

FIGURE 2. WEEKLY CHART OF DELL. Besides the dip in August, DELL’s uptrend, however volatile, remains unbroken.Chart source: StockCharts.com. For educational purposes.

Dell’s stock price uptrend remains intact despite the volatility and dip from February through August. The stock bounced back at the 61.8% Fibonacci retracement line, which, for many investors, served as a favorably low entry point.

Note the SCTR line above the chart. You should keep an eye on a crossover above the 70 line, which marks a bullish threshold for me (more on this later).

What  Conditions Might Trigger a Buy?

Let’s switch to a daily chart.

FIGURE 3. DAILY CHART OF DELL STOCK. Watch those swing points for potential entry points.

The following are important points to note on the chart:

  • The swing points illustrate an almost textbook uptrend (blue trendline) of higher highs (HH) and higher lows (HL).
  • The green arrows mark areas of support. If an uptrend consists of consecutive HHs and HLs, then support, and potential stop loss levels, would be right below each swing low.
  • The horizontal dotted blue lines mark potential resistance levels (and, for swing traders, multiple opportunities to close out with a profit). Dell’s stock price is currently breaking above the first resistance level marked on the chart.

The Chaikin Money Flow (CMF) below the chart is above the zero line (magenta rectangle), meaning buying pressure is a dominant factor in DELL’s momentum. You would want it to remain there if you were to go long.

So, when might you consider going long?

  • If you’re not already in the position, look at the SCTR line above the chart. Wait for the SCTR line to break above 70—that’s your first signal.
  • Ensure its CMF reading remains strong and does not show signs of weakening.
  • If DELL breaks the HH>HL pattern, then the short-term uptrend is in question and may trigger a stop loss below the swing point you’ve chosen as an ideal exit (where you place your stop loss will vary according to your risk tolerance).

How To Set a SCTR Alert

On Your Dashboard, click the Charts & Tools dropdown menu.

  • Select Advanced Alerts.
  • From Alert Components, select symbol from the TICKER PROPERTIES dropdown menu.
  • Select SCTR in the PRICE, VOLUME, & SCTRS dropdown menu.

The screenshot below displays the alert.

Save your alert and choose how you you’d like to be notified.

To learn more about setting alerts, visit the Technical Alert Workbench support page.

At the Close

When picking stocks in a rally, tools like the SCTR report make life easier. Dell (DELL) might not be sitting at the top spot right now, but it’s climbing fast, showing some serious technical strength. Keep an eye on that SCTR line—once it crosses 70, paired with a strong CMF reading, it could be your signal to go long. Set a SCTR alert on your dashboard to catch this market opportunity.



Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation or without consulting a financial professional.

Cryptocurrencies such as Bitcoin and Ethereum offer an alternative route for building and storing wealth. While directly holding these digital assets is a popular option, investors are also clamoring for financial products such as crypto exchange-traded funds (ETFs).

Canada first launched Bitcoin and Ethereum ETFs in 2021. These Canadian Bitcoin and Ethereum ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

“There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.

Interest has only increased since then. Sean Farrell, head of digital asset strategy at Fundstrat, wrote in mid-2023 that the Bitcoin ETF category at large has the potential to surpass the precious metals ETF market in terms of asset value. ‘Bitcoin ETF eventually could become >$300 billion category,’ he stated in the note.

Ethereum ETFs have also picked up steam and become a major talking point. Ethereum is the most widely used blockchain technology, and Ether, the digital currency of this platform, is the second largest cryptocurrency after Bitcoin.

With that in mind, it’s worth taking a look at the currently available Canadian cryptocurrency ETFs. The list below includes 13 Ether and Bitcoin ETFs available on the Canadian market sorted by assets under management, and all data presented is current as of October 17, 2024.

1. Purpose Bitcoin ETF (TSX:BTCC)

Company Profile

Assets under management: C$2.5 billion

Billed as the world’s first physically settled Bitcoin ETF, the Purpose Bitcoin ETF launched in February 2021 and is backed by Bitcoin in cold storage. This means the fund allows investors to add and sell Bitcoin with no digital wallet required.

Hosted by Canadian investment company Purpose Investments, the Purpose Bitcoin ETF is backed by 26,429.6 Bitcoins and has a management expense ratio of 1 percent.

2. CI Galaxy Bitcoin ETF (TSX:BTCX.B)

Company Profile

Assets under management: C$829.06 million

Launched in March 2021, the CI Galaxy Bitcoin ETF was born out of a partnership between cryptocurrency leaders Galaxy Fund Management and CI Global Asset Management. Galaxy Fund Management is part of Galaxy Digital, a diversified financial services firm with a focus on digital assets and the blockchain technology sector.

The ETF’s objective is to give investors exposure to Bitcoin via an institutional-quality fund platform, as its holdings are wholly Bitcoin and are kept in cold storage. At 0.4 percent, this fund boasts one of the lowest management fees of all the crypto funds on the market.

3. Fidelity Advantage Bitcoin ETF (TSX:FBTC)

Company Profile

Assets under management: C$575.6 million

The newest Bitcoin fund on this list, the Fidelity Advantage Bitcoin ETF, launched in November 2021. It offers the security of Fidelity’s in-house cold storage services for its holdings.

While it previously had a management fee of 0.4 percent, in line with the CI and Galaxy funds, the Fidelity Advantage Bitcoin ETF lowered it in January 2024 to an ultra-low management fee of 0.39 percent.

4. CI Galaxy Ethereum ETF (TSX:ETHX.B)

Company Profile

Assets under management: C$434.46 million

The CI Galaxy Ethereum ETF, another collaboration between CI and Galaxy, offers investors exposure to the spot Ethereum price through Ether holdings in cold storage. The fund launched on April 20, 2021, the same day as two of the other Ether ETFs on this list.

At the time, CI Global Asset Management suggested that “owning Ether is similar to owning a basket of early-stage, high-growth technology stocks.”

The CI Galaxy Ethereum ETF has notably low management fees of just 0.4 percent.

5. Purpose Ether ETF (TSX:ETHH)

Company Profile

Assets under management: C$350.6 million

The Purpose Ether ETF is a direct-custody Ether ETF that launched on April 20, 2021. This fund holds 98,079.44 Ether, which it stores in cold storage.

The Purpose Ether ETF offers investors exposure to the daily price movements of physically settled Ether tokens with a management fee of 1 percent.

6. Evolve Bitcoin ETF (TSX:EBIT)

Company Profile

Assets under management: C$246.24 million

Evolve ETFs partnered with cryptocurrency experts, including Gemini Trust Company, CF Benchmarks, Cidel Bank & Trust and CIBC Mellon Global Services, to launch the Evolve Bitcoin ETF. The fund, which holds its own Bitcoin, has a management fee of 0.75 percent.

Launched a week after the Purpose Bitcoin ETF, its holdings of Bitcoin are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for Bitcoin denominated in US dollars.

7. 3iQ CoinShares Bitcoin ETF (TSX:BTCQ)

Company Profile

Assets under management: US$223.62‪ million

Launched in March 2021, the 3iQ CoinShares Bitcoin ETF tracks the price movement of Bitcoin in US dollar terms, and holds its Bitcoin assets in cold storage. This ETF has a management fee of 1 percent. Figures for this ETF were accurate as of September 30, 2024, according to the fund’s website.

8. Purpose Bitcoin Yield ETF (TSX:BTCY)

Company Profile

Assets under management: C$114.8 million

The Purpose Bitcoin Yield ETF uses a covered call strategy to generate yield for investors, which involves writing call options on Bitcoin. Call options give the buyer an option to purchase an asset at a specific price on or before a specific date.

Its structure allows the fund to earn income from option premiums while providing investors with exposure to Bitcoin’s price movements. Its distributions are paid monthly.

9. Evolve Ether ETF (TSX:ETHH)

Company Profile

Assets under management: C$74.32 million

The Evolve Ether ETF offers investors an easier route to investing directly in Ether. The fund’s holdings of Ether are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for Ether denominated in US dollars. As with the Evolve Bitcoin ETF, the Evolve Ether ETF has a management fee of 0.75 percent.

10. Purpose Ether Yield ETF (TSX:ETHY)

Company Profile

Assets under management: C$63 million

Like the Purpose Bitcoin Yield ETF, the Purpose Ether Yield ETF offers investors an opportunity to invest in Ether while also generating yield. Purpose Investments lends a portion of its Ether holdings to institutional borrowers and earns interest on those loans.

Investors who purchase shares of this ETF receive a portion of the interest earned in monthly distributions.

11. 3iQ CoinShares Staking Ether ETF (TSX:ETHQ)

Company Profile

Assets under management: C$‪54.5 million

Following the success of its Bitcoin ETF, 3iQ Digital Asset Management launched its CoinShares Ether ETF in April 2021. This fund has a similar objective, offering exposure to Ether and its daily US dollar price movements. It also has a management fee of 1 percent.

Figures for this fund were accurate as of September 30, 2024, according to the fund’s website.

12. Evolve Cryptocurrencies ETF (TSX:ETC)

Company Profile

Assets under management: C$45.1 million

The Evolve Cryptocurrencies ETF launched in September 2021 as the first multi-cryptocurrency ETF, providing combined exposure to both Bitcoin and Ether.

This product from Evolve ETFs allows investors to diversify their crypto portfolios and provides indirect exposure to the two coins, weighing them by market capitalization and rebalancing its holdings on a monthly basis. Bitcoin makes up the majority of its portfolio.

While this ETF has no management fee, the underlying funds that hold both Bitcoin and Ether have management fees of 0.75 percent plus applicable taxes.

13. Fidelity Advantage Ether ETF (TSX:FETH)

Company Profile

Assets under management: C$20.7 million

Following the successful launch of its Bitcoin fund, Fidelity brought its Advantage Ether ETF to market in September 2022, making this the newest Ether ETF in Canada. Its holdings are stored in Fidelity’s in-house cold storage.

The Fidelity Advantage Ether ETF has a management fee of 0.4 percent.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Many Canadian copper stocks are performing strongly in 2024, thanks in part to several tailwinds for the sector this year.

Copper prices saw gains during the first half of the year, and supply concerns and rising demand caused the metal to surge to a record COMEX high on May 20, reaching US$5.20 per pound, or US$11,464 per metric ton (MT).

The price has since eased to US$4.37 per pound or US$10,296 per MT as of October 16, but remains elevated compared to 2023 prices.

Demand has remained strong due to energy transition sectors, but lower treatment charges from Chinese refiners during the first half of 2024 caused refiners to cut output. This bottlenecked the overall copper supply, introducing further pressure to the market.

Against that backdrop, how have TSX-listed copper companies performed? Learn about the top five best-performing copper stocks in 2024 by year-to-date gains below. Data for this article was retrieved on October 16, 2024, using TradingView’s stock screener, and only companies with market capitalizations greater than C$50 million are included.

1. Taseko Mines (TSX:TKO)

Company Profile

Year-to-date gain: 80.16 percent
Market cap: C$970.99 million
Share price: C$3.32

Taseko Mines is a copper producer and developer that holds a portfolio of assets in British Columbia, Canada, and Arizona, US. Its primary asset is the Gibraltar copper mine, which is located in Central BC.

Gibraltar is Canada’s second largest open-pit copper mine after Teck Resources’ (TSX:TECK.A,TECK.B,NYSE:TECK) Highland Valley mine. It boasts an 85,000 metric ton per day processing capacity, and in 2023 the mine produced 123 million pounds of copper.

On March 25, Taseko fully acquired Gibraltar after entering into an agreement with Dowa Metals and Mining (TSE:5714) and Furukawa (TSE:5715) to purchase the remaining 12.5 percent interest in the property. The company said the agreement was mutually beneficial as both Dowa and Furukawa are divesting away from copper-mining investments.

On June 1, Taseko suspended operations at Gibraltar for 18 days due to strike action from union workers. After approximately two weeks, the company and union came to terms on a new agreement, which the union ratified on June 19.

In the company’s second quarter 2024 financial and operational performance update released on July 31, Taseko reported that Gibraltar had produced 20.2 million pounds of copper during the quarter, an 8 percent decrease from Q2 2023. The total for the first two quarters came to 49.9 million pounds, 3.2 percent less than the 53.1 million pounds through the first six months of 2023.

A crusher relocation project and general maintenance at one of the mine’s concentrators, alongside the strike, were the cause for the decreased production in H1. According to the company, it expects production in the second half of the year to be stronger now that operations are back online.

The announcement also provided an update on development progress of Taseko’s Florence project; all key permits are now in place for commercial production and construction has commenced. The company expects the first production from the site in Q4 2025, with an annual copper production of 85 million pounds.

Shares of Taseko reached a year-to-date high of C$4.12 on May 21.

2. Hudbay Minerals (TSX:HBM)

Press ReleasesCompany Profile

Year-to-date gain: 74.66 percent
Market cap: C$4.86 billion
Share price: C$12.68

Hudbay Minerals is a copper production and development company with producing mines in Peru and Canada. It also has projects in Peru and in the US.

According to Hudbay’s Q2 results, the Constancia copper mine and neighboring Pampacancha satellite pit in Peru produced a combined 19,217 metric tons of copper in the three months ending on June 30.

In Canada, Hudbay’s 75 percent owned Copper Mountain mine in BC produced 6,719 MT of copper, and its wholly owned Snow Lake operations in Manitoba produced 2,429 MT of copper despite forest fires causing interruptions at the Lalor mine. Both mines also produce gold and silver, and Snow Lake produces zinc as well.

In addition to its mining assets, the company is advancing its Copper World project in Arizona, US. In its report for the first quarter, the company indicates that it is continuing to work on getting final state permits for the site and expects to receive them sometime in 2024. When complete, Copper World is expected to have a 20 year life.

According to a March 28 annual reserve and resource update, Copper World holds proven and probable average grades of 0.54 percent copper from 385 million metric tons.

In an August 29 release, Hudbay announced it had received an aquifer protection permit from the Arizona Department of Environmental Quality. The company said the permit marks a key milestone and brings the project one step closer to being fully permitted.

The company is also working on its Mason project in Nevada, US. Hudbay is developing Mason as a long-term future asset, and expects it to have a 27 year mine life. A resource estimate shows measured and indicated resources of 2.22 billion MT at an average grade of 0.29 percent copper, and inferred resources of 237 million MT grading 0.24 percent copper.

On May 24, the company announced the completion of an upsized bought-deal offering, generating aggregate gross proceeds of US$402.5 million. The company said it intends to use the funds for near-term growth initiatives and to accelerate development at Copper Mountain.

Shares of Hudbay reached a year-to-date high of C$14.15 on May 21.

3. Alta Copper (TSX:ATCU)

Company Profile

Year-to-date gain: 72.22 percent
Market cap: C$53.89 million
Share price: C$0.62

Alta Copper is a copper exploration company that is working to advance its flagship Cañariaco project in Northern Peru. The project includes the Cañariaco Norte and Cañariaco Sur deposits and the Quebrada Verde prospect.

On May 15, the company released figures from an optimized preliminary economic assessment. In the report, the company indicates a base case pre-tax net present value of US$4.1 billion with an internal rate of return of 32.4 percent based on copper prices of US$4 per pound, along with all-in sustaining costs of US$1.96 per pound.

On the production side, Alta reported that the projected mine life is 27 years, with average annual metal production in the first 10 years of 347 million pounds of copper, 70,000 ounces of gold and 1.5 million ounces of silver.

The most recent announcement from the project came on October 10 when Alta announced its drill permit application was approved by the Ministry of Energy and Mines of Peru. The permit will allow the company to drill 42,400 meters in phases of 10,000 meters to be commenced prior to Q2 2025.

The company said the drill programs will be used to cross and fill recently identified zones of mineralization extending to depth in the Canariaco Norte deposit, which were not included in the current mineral resource estimate.

It also said it had received Certificates of Non-Existence of Archaeological Remains on Surface from the Ministry of Culture of Peru.

Shares of Alta reached their year-to-date high of C$0.79 on May 21.

4. Capstone Copper (TSX:CS)

Company Profile

Year-to-date gain: 66.9 percent
Market cap: C$7.9 billion
Share price: C$10.62

Capstone Copper is a mining company with a portfolio of assets in the US, Mexico and Chile.

Capstone’s wholly owned Pinto Valley copper mine in Arizona, US, is fully permitted until 2039 and is expected to produce 58,000 to 64,000 MT of copper in 2024. Capstone acquired Pinto Valley from BHP (ASX:BHP,NYSE:BHP,LSE:BHP) in 2013, and the mine has produced more than 4 billion pounds of copper since it began operating in 1972.

Capstone is the sole owner of the Cozamin copper-silver mine in Zecatacas, Mexico, which has a 1,000 MT per day throughput and is projected to generate 22,000 to 24,000 MT of copper in 2024. It also holds the Mantos Blancos copper mine in Antofagasta, Chile, which underwent an expansion in 2021 to extend its mine life significantly.

In addition, the company owns a 70 percent stake in the Mantoverde mine in the Atacama region of Chile, with the remaining 30 percent owned by Mitsubishi Materials (OTC Pink:MIMTF,TSE:5711).

Having first produced saleable copper concentrate from Mantoverde on June 25, the company achieved commercial production on September 21, with 30 consecutive days of 32,000 metric tons per day throughput.

In addition to activities at the Mantoverde mine, Capstone released an updated feasibility study for its Santo Domingo project, which is located 35 kilometers northeast of Mantoverde. The study indicated an after-tax net present value of US$1.7 billion, with an internal rate of return of 24.1 percent and a payback period of 3 years.

The figures were based on an annual copper production of 106,000 metric tons for the first seven years.

Shares of Capstone reached a year-to-date high of C$11.20 on May 17.

5. First Quantum Minerals (TSX:FM)

Press ReleasesCompany Profile

Year-to-date gain: 65.06 percent
Market cap: C$14.57 billion
Share price: C$17.86

First Quantum Minerals is a copper mining and development company with a global portfolio of assets.

Its primary asset is the Cobre Panama mine, located west of Panama City, Panama. The mine boasts 3 billion metric tons of proven and probable reserves and represents 1 percent of the world’s copper supply. The mine was ordered to close down in November 2023 after the Panamanian Supreme Court invalidated an extension to the mine’s license.

In a December 2023 release, the company said it was working on developing a closure plan for the mine; however, it also noted that it was pursuing all appropriate legal avenues to protect its investment and rights.

In its Q1 results, released on April 24, First Quantum said it was continuing to work on a preservation and safe management plan for Cobre Panama, and was also working to deliver the 121,000 metric tons of concentrate that remains on site.

Due to the ongoing situation in Panama, the company noted that it had undergone a refinancing program to improve its balance sheet and liquidity. This program included working out a prepayment agreement with Jiangxi Copper (SHA:600362,HKEX:0358) for US$500 million, the completion of a US$1.6 billion senior secured second lien at 9.38 percent due in 2029 and the issuance of 139.93 million common shares to raise US$1.15 billion.

In the company’s second quarter results, First Quantum reported the production of 102,709 metric tons of copper, down from 84,466 MT produced in Q2 2023. The production drop was largely attributed to the closure of Cobre Panama, which contributed 90,086 metric tons during the quarter last year.

The company is also operating several mines in Zambia, including its Kansanshi copper-gold mine, Sentinel copper mine and Enterprise nickel mine. First Quantum noted that production may be impacted in 2024 due to severe drought conditions in Zambia caused by El Nino, which has reduced water levels in the Kafue and Zambezi rivers. The government declared a national emergency in March, and power generation in the country has been impacted.

First Quantum has been working to mitigate these challenges and has entered into offtake agreements with third-party traders for power sourced from the Southern African Power Pool. Due to increased power curtailments since the Q1 release, the company has had to increase the amount of power sourced from regional sources to 193 megawatts from the original 80 megawatts.

The increase has pushed the expected copper cash costs up to US$0.06 per pound from US$0.03 per pound. First Quantum says it will be able to sufficiently substitute curtailed power with imports for the duration of the emergency. The energy deficit is expected to ease with Zambia’s next rainy season, with hydro generation recovering by early 2025.

Shares of First Quantum reached a year-to-date high of C$20.00 on May 21.

FAQs for investing in copper

Is copper a good investment in 2024?

Many experts have a positive long-term outlook for the red metal based on supply concerns and its growing role in the energy transition. Copper’s price has climbed to new all time highs in 2024, bringing many stocks with it.

Investors who are interested in copper should make sure to perform their due diligence, as the volatility and unpredictability of markets and economies at the moment means that nothing is guaranteed.

What is copper used for?

Copper is used in many industries, from construction to electronics to medical equipment. In fact, in 2020, 32 percent of copper globally was used in equipment manufacturing and 28 percent in building construction.

Two other growing sectors for copper are the burgeoning electric vehicle and green energy industries. Electric vehicles require a significant amount of the red metal per vehicle.

How to invest in copper?

Investors can get exposure to copper in a variety of ways. Holding physical copper is possible, but plenty of storage would be required to hold any significant value of the metal.

For investors looking to invest in the metal without physically holding it, there are a few options. Copper stocks such as those on the TSX, TSXV and ASX are worth looking at. Additionally, there are copper exchange-traded funds and the copper options and futures markets on the London Metal Exchange.

How to invest in a copper ETF?

Copper exchange-traded funds (ETFs) can be a good way to diversify an investment portfolio, and they can be a more stable option compared to individual copper miners or explorers. There are multiple options available on the market, and they can usually be purchased in the same way one could purchase stocks through a broker or trading platform.

In May 2022, Horizons launched Canada’s first copper equities ETF, the Horizons Copper Producers Index ETF (TSX:COPP), which is focused solely on pure-play and diversified copper-mining companies.

There are two ETFs available on the US ARCA exchange as well. The Global X Copper Miners ETF (ARCA:COPX) tracks the Solactive Global Copper Miners Index, which includes copper miners, as well as copper explorers and developers. The other option is the United States Copper Index Fund (ARCA:CPER), which gives investors exposure to copper futures contracts by tracking the SummerHaven Copper Index Total Return (INDEXNYSEGIS:SCITR).

How is copper priced?

The copper price is tracked in two ways: COMEX copper and London Metal Exchange (LME) copper. The COMEX and LME are both options and futures metal exchanges, with the former being headquartered in New York and the latter in London. COMEX copper is priced by the pound, while LME copper is priced per metric ton.

How is copper processed?

Once copper is mined, the ore goes through multiple steps to reach a market-ready state. First, the ore is ground to roughly separate the rock from the copper, as copper typically only makes up 1 percent of the mined rock.

The resultant copper is then slurried with water and chemical reagents, after which air is used to float the copper to the top of the mixture. After the copper is removed from this, it is typically at 24 to 40 percent purity.

Where is copper mined?

Copper is mined throughout the world, with significant production found on every continent besides Antarctica. Chile was the top producer in 2022, putting out 5 million metric tons of the metal. Rounding out the top five are Peru with 2.6 million MT, the Democratic Republic of Congo with 2.5 million MT, China with 1.7 million MT and the United States with 1.1 million MT.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The BRICS nations, originally composed of Brazil, Russia, India, China and South Africa, are looking to establish a new reserve currency backed by a basket of their respective currencies.

All eyes are on the upcoming 2024 BRICS Summit taking place October 22 to 24 in Kazan, Russia. The BRICS nations are expected to continue their discussions of creating a potentially gold-backed currency as an alternative to the US dollar.

The potential BRICS currency would allow these nations to assert their economic independence while competing with the existing international financial system. The current system is dominated by the US dollar, which accounts for about 90 percent of all currency trading. Until recently, nearly 100 percent of oil trading was conducted in US dollars; however, in 2023 one-fifth of oil trades were reportedly made using non-US dollar currencies.

Central to this ongoing situation is the US trade war with China, as well as US sanctions on China and Russia. Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand, or what’s known as de-dollarization. In turn, this would have implications for the United States and global economies.

During the first US Presidential Debate between former President Donald Trump and current Vice President Kamala Harris on September 10, Trump doubled down on his recent pledge to impose strict tariffs on nations seeking to move away from the US dollar as the global currency. He is taking a particularly strong stance against China, threatening to slap 60 percent to 100 percent tariffs on Chinese imports if elected.

It’s still too early to predict when a BRICS currency will be released, but it’s a good time to look at the potential for a BRICS currency and its possible implications for investors.

In this article:

Why do the BRICS nations want to create a new currency?

The BRICS nations have a slew of reasons for wanting to set up a new currency. Recent global financial challenges and aggressive US foreign policies have prompted the BRICS countries to explore the possibility. They want to better serve their own economic interests while reducing global dependence on the US dollar and the euro.

When will a BRICS currency be released? There’s no definitive launch date as of yet, but the countries’ leaders have discussed the possibility at length. During the 14th BRICS Summit, held in mid-2022, Russian President Vladimir Putin said the BRICS countries plan to issue a ‘new global reserve currency,’ and are ready to work openly with all fair trade partners.

In April 2023, Brazilian President Luiz Inacio Lula da Silva showed support for a BRICS currency, commenting, “Why can’t an institution like the BRICS bank have a currency to finance trade relations between Brazil and China, between Brazil and all the other BRICS countries? Who decided that the dollar was the (trade) currency after the end of gold parity?”

In the lead up to the 2023 BRICS Summit last August, there was speculation that an announcement of such a currency could be on the table. This proved to be wishful thinking, however.

‘The development of anything alternative is more a medium to long term ambition. There is no suggestion right now to creates a BRICS currency,’ Leslie Maasdorp, CFO of the New Development Bank, told Bloomberg at the time. The bank represents the BRICS bloc.

South Africa’s BRICS ambassador, Anil Sooklal, has said as many as 40 countries have expressed interest in joining BRICS. At the 2023 BRICS Summit , six countries were invited to become BRICS members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates. All but Argentina officially joined the alliance in January 2024.

In recent years, the US has placed numerous sanctions on Russia and Iran. The two countries are working together to bring about a BRICS currency that would negate the economic impacts of such restrictions, according to Iranian Ambassador to Russia Kazem Jalal, speaking at a press conference during the Russia–Islamic World: KazanForum in May 2024.

Some experts believe that a BRICS currency is a flawed idea, as it would unite countries with very different economies. There are also concerns that non-Chinese members might increase their dependence on China’s yuan instead. That said, when Russia demanded in October 2023 that India pay for oil in yuan, India refused to use anything other than the US dollar or rupees. Russia is struggling to use its excess supply of rupees.

What would the advantages of a BRICS currency be?

A new currency could have several benefits for the BRICS countries, including more efficient cross-border transactions and increased financial inclusion. By leveraging blockchain technology, digital currencies and smart contracts, the currency could revolutionize the global financial system. Thanks to seamless cross-border payments, it could also promote trade and economic integration among the BRICS nations and beyond.

A new BRICS currency would also:

Strengthen economic integration within the BRICS countriesReduce the influence of the US on the global stageWeaken the standing of the US dollar as a global reserve currencyEncourage other countries to form alliances to develop regional currenciesMitigate risks associated with global volatility due to unilateral measures and the diminution of dollar dependence

How would a new BRICS currency affect the US dollar?

RomanR / Shutterstock

For decades, the US dollar has enjoyed unparalleled dominance as the world’s leading reserve currency. According to the US Federal Reserve, between 1999 and 2019, the dollar was used in 96 percent of international trade invoicing in the Americas, 74 percent in the Asia-Pacific region and 79 percent in the rest of the world.

According to the Atlantic Council, the US dollar is used in approximately 88 percent of currency exchanges, and 59 percent of all foreign currency reserves held by central banks. Due to its status as the most widely used currency for conversion and its use as a benchmark in the forex market, almost all central banks worldwide hold dollars. Additionally, the dollar is used for the vast majority of oil trades.

Although the dollar’s reserve currency share has decreased as the euro and yen have gained popularity, the dollar is still the most widely used reserve currency, followed by the euro, the yen, the pound and the yuan.

The potential impact of a new BRICS currency on the US dollar remains uncertain, with experts debating its potential to challenge the dollar’s dominance. However, if a new BRICS currency was to stabilize against the dollar, it could weaken the power of US sanctions, leading to a further decline in the dollar’s value. It could also cause an economic crisis affecting American households. Aside from that, this new currency could accelerate the trend toward de-dollarization.

Nations worldwide are seeking alternatives to the US dollar, with examples being China and Russia trading in their own currencies, and countries like India, Kenya and Malaysia advocating for de-dollarization or signing agreements with other nations to trade in local currencies or alternative benchmarks.

While it is unclear whether a new BRICS currency would inspire the creation of other US dollar alternatives, the possibility of challenging the dollar’s dominance as a reserve currency remains. And as countries continue to diversify their reserve holdings, the US dollar could face increasing competition from emerging currencies, potentially altering the balance of power in global markets.

However, a recent study by the Atlantic Council’s GeoEconomics Center released in June 2024 shows that the US dollar is far from being dethroned as the world’s primary reserve currency. ‘The group’s ‘Dollar Dominance Monitor’ said the dollar continued to dominate foreign reserve holdings, trade invoicing, and currency transactions globally and its role as the primary global reserve currency was secure in the near and medium term,’ reported Reuters.

Ultimately, the impact of a new BRICS currency on the US dollar will depend on its adoption, its perceived stability and the extent to which it can offer a viable alternative to the dollar’s longstanding hegemony.

Will BRICS have a digital currency?

BRICS nations do not as of yet have their own specific digital currency, but a BRICS blockchain-based payment system is in the works, according to Kremlin aide Yury Ushakov in March 2024. Known as the BRICS Bridge multisided payment platform, it would connect member states’ financial systems using payment gateways for settlements in central bank digital currencies.

The planned system would serve as an alternative to the current international cross-border payment platform, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, which is dominated by US dollars.

“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people and businesses, as well as cost-effective and free of politics,” Ushakov said in an interview with Russian news agency TASS.

How would a BRICS currency impact the economy?

A potential shift toward a new BRICS currency could have significant implications for the North American economy and investors operating within it. Some of the most affected sectors and industries include:

Oil and gasBanking and financeCommoditiesInternational tradeTechnologyTourism and travelThe foreign exchange market

A new BRICS currency would also introduce new trading pairs, alter currency correlations and affect market volatility, requiring investors to adapt their strategies accordingly.

How can investors prepare for a new BRICS currency?

Adjusting a portfolio in response to emerging BRICS currency trends may be a challenge for investors. However, several strategies can be adopted to capitalize on these trends.

Invest in commodities like gold and silver as a hedge against currency risk.Gain exposure to BRICS equity markets through stocks and ETFs that track BRICS market indexes.Consider alternative investments such as real estate or private equity in the BRICS countries.

Prudent investors will also weigh these strategies against their exposure to market, political and currency fluctuations.

In terms of investment vehicles, investors could consider ETFs such as the iShares MSCI BIC ETF (ARCA:BKF) or the Pacer Emerging Markets Cash COW 100 ETF (NASDAQ:ECOW). They could also invest in mutual funds such as the T. Rowe Price Emerging Markets Equity Fund, or in individual companies within the BRICS countries.

Simply put, preparing for a new BRICS currency or potential de-dollarization requires careful research and due diligence by investors. Diversifying currency exposure, and investing in commodities, equity markets or alternative investments are possible options to consider while being mindful of the associated risks.

Investor takeaway

While it is not certain whether the creation of a BRICS reserve currency will come to pass, its emergence would pose significant implications for the global economy and potentially challenge the US dollar’s dominance as the primary reserve currency. This development would present unique investment opportunities, while introducing risks to existing investments as the shifting landscape alters monetary policy and exacerbates geopolitical tensions.

For those reasons, investors should closely monitor the progress of a possible BRICS currency. And, if the bloc does eventually create one, it will be important watch the currency’s impact on BRICS member economies and the broader global market. Staying vigilant will help investors to capitalize on growth prospects and hedge against potential risks.

FAQs for a new BRICS currency

Is a BRICS currency possible?

Some financial analysts point to the creation of the euro in 1999 as proof that a BRICS currency may be possible. However, this would require years of preparation, the establishment of a new central bank and an agreement between the five nations to phase out their own sovereign currencies; it would most likely also need the support of the International Monetary Fund to be successful internationally.

The impact of its war on Ukraine will continue to weaken Russia’s economy and the value of the ruble, and China is intent on raising the power of the yuan internationally. There is also a wide chasm of economic disparity between China and other BRICS nations. These are no small obstacles to overcome.

Would a new BRICS currency be backed by gold?

While Russian President Vladimir Putin has suggested hard assets such as gold or oil, a new BRICS currency would likely be backed by a basket of the bloc’s currencies.

That said, speaking at this year’s New Orleans Investment Conference, well-known author Jim Rickards gave a detailed talk on how a gold-backed BRICS currency could work. He suggested that if a BRICS currency unit is worth 1 ounce of gold and the gold price goes to US$3,000 per ounce, the BRICS currency unit would be worth US$3,000, while the dollar would lose value compared to the BRICS currency as measured by the weight of gold.

Importantly though, he doesn’t see this as a new gold standard, or the end of the US dollar or the euro.

“(With) a real gold standard, you can take the currency and go to any one of the central banks and get some gold,” Rickards said at the event. “With BRICS they don’t have to own any gold, they don’t have to buy any gold, they don’t have to prop up the price. They can just rise on the dollar gold market.

How much gold do the BRICS nations have?

As of Q2 2024, the combined central bank gold holdings of the original BRICS nations plus Egypt (the only nation of the five new additions to have central bank gold reserves) accounted for more than 20 percent of all the gold held in the world’s central banks. Russia, India and China rank in the top 10 for central bank gold holdings.

Russia controls 2,335.85 metric tons (MT) of the yellow metal, making it the fifth largest for central bank gold reserves. China follows in the sixth spot with 2,264.32 MT of gold and India places eighth with 840.76 MT. Brazil and South Africa’s central bank gold holdings are much smaller, coming in at 129.65 MT and 125.44 MT, respectively. New BRICS member Egypt’s gold holdings are equally pauce, at 126.57 MT.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Netherlands-based semiconductor equipment giant ASML Holding (NASDAQ:ASML) experienced its largest single-day share price drop since 1998 after sharing a weaker-than-expected 2025 forecast.

The company plummeted about 16 percent on Tuesday (October 15) after releasing its Q3 report and guidance for next year. Its results were published a day earlier than expected due to a technical error.

CEO Christophe Fouquet said in a press release that ASML expects total net sales of 30 to 35 billion euros next year, which is in the lower half of the range mentioned at the company’s 2022 investor day.

‘While there continue to be strong developments and upside potential in artificial intelligence (AI), other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected,’ he said.

ASML, which is known for supplying lithography machines to semiconductor manufacturers such as Taiwan Semiconductor Manufacturing Company (NYSE:TSM), Intel (NASDAQ:INTC) and Samsung (KRX:005930), said its customers currently have a cautious mindset due to the market dynamics outlined by Fouquet.

Total net sales for Q3 came in at 7.5 billion euros, slightly beating expectations; however, net bookings for the quarter were reported at just 2.6 billion euros, significantly below market forecasts of 4 to 6 billion euros.

ASML’s share price decline weighed on other tech stocks that have benefited from the surge in demand for advanced chips, but are now facing potential headwinds if chipmakers scale back investments.

Several semiconductor manufacturers have delayed capital expenditure plans due to lower-than-expected demand in consumer electronics and smartphones. Intel previously announced major workforce cuts geared at helping it save US$10 billion in 2025, affecting orders for ASML’s lithography tools. Similarly, memory chipmakers have shifted their focus from expanding capacity to improving technological efficiency, contributing to fewer orders for new systems.

ASML has also faced limitations in selling its most advanced lithography tools to China due to US-led export controls.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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A turbulent Q3 in the crypto market was marked by price volatility and shifts in investor sentiment.

Popular cryptocurrency Bitcoin, often seen as a bellwether for the industry, experienced sharp price corrections at the start of each month, with July and August witnessing declines exceeding 12 percent.

Meanwhile, Ethereum’s performance in Q3 showed signs of declining user engagement and network activity, marked by a drop in daily active addresses compared to previous periods. Competing blockchains, particularly Solana, experienced growth in user activity during the same period, potentially signaling a shift in user preferences away from Ethereum.

Read on for an overview of market-moving events that shaped the crypto landscape in Q3.

July: Crypto sector faces mixed signals

July presented a dynamic period for the crypto market, marked by shifting trends and price movements. Crypto emerged as a major political catalyst after current president Joe Biden withdrew as the Democratic nominee, and Bitcoin’s price trended upward. However, as price swings through the month demonstrated, it remained sensitive to external factors, underscoring the continued influence of news and events on Bitcoin’s supply and demand dynamics.

Bitcoin price, July 2024.

Chart via CoinGecko.

In contrast, Ether saw a steep 8 percent drop in its valuation immediately following the launch of the highly anticipated Ethereum exchange-traded funds (ETFs) on July 23. The ETFs themselves, however, fared well, demonstrating an impressive daily growth rate through the end of the month.

Ether price, July 2024.

Chart via CoinGecko.

Meanwhile, Solana emerged as a strong performer, driven by the growing popularity of liquid staking protocols. Solana outperformed Bitcoin and Ether as crypto surged between July 11 and July 21.

Focus immediately shifted to a potential Solana ETF, although analysts consider this unlikely in the near term. Solana’s decentralized exchanges ultimately processed more on-chain volume than Ethereum in July.

Despite some volatility, the CoinDesk 20 Index finished the month ahead by 1.98 percent.

August: Crypto markets falter, recovery lags stocks

August began with turmoil as macroeconomic headwinds triggered a wave of selloffs that affected the entire economy after the Bank of Japan unexpectedly raised interest rates on July 31.

In the US, employment data ignited fears of a recession and sparked a widespread stock rout. By August 5, the crypto industry had lost US$510 billion, and Bitcoin was below US$50,000, its lowest valuation since February.

While the broader stock market quickly rebounded, Bitcoin and Ether’s prices remained subdued, with a “death cross” pattern forming in Bitcoin’s price action, a historical signal of further potential decline.

Crypto sector market cap, August 2024.

Chart via CoinGecko.

The downturn was exacerbated by a surge in short-selling activity. Institutional investors initially provided some buying support after the rout, scooping up digital assets at lower prices, but this proved to be a short-lived reprieve.

As the month progressed, momentum shifted decisively toward sellers, with many likely capitalizing on the opportunity to short Bitcoin and other cryptocurrencies, further amplifying downward pressure.

Enthusiasm for Ethereum ETFs also waned in August, with net outflows increasing as investor sentiment turned bearish. Amidst this downturn, SOL continued to demonstrate resilience, demonstrating its potential to establish itself as a strong contender in an evolving crypto landscape.

September: Bitcoin and Ether break through resistance

September, a historically bearish month for the crypto industry, showcased its resilience.

The US Federal Reserve’s long-awaited interest rate on September 18 cut propelled Bitcoin and Ether prices through resistance levels. Meanwhile, market watchers also observed a surge in stablecoin valuations, particularly for XRP, following the launch of Grayscale’s XRP Token Trust on September 12.

Rekt Capital suggested that the end of September could mark the culmination of Bitcoin’s post-halving “reaccumulation range,” suggesting a potential transition toward a bull cycle heading into Q4. However, the firm also said it wouldn’t be surprising to see Bitcoin consolidate further in September before breaking higher in October.

Ultimately Bitcoin ended the month up 7.39 percent, just above US$64,540.

Also at the end of Q3, BlackRock’s spot Ethereum ETF surpassed US$1 billion in value for the first time.

Watch these crypto market factors in Q4

In a report on Q4 crypto market dynamics, Canadian fintech company WonderFi notes that while Bitcoin is still highly volatile, prices are showing longer periods of stabilization, suggesting it could be maturing as an asset class.

The firm points to global liquidity and politics as factors likely to influence the crypto market in Q4.

Matt Hougan of Bitwise Asset Management and Ric Edelman, founder of the Digital Assets Council of Financial Professionals explained during the Q4 outlook webinar that Solana and Ethereum will likely be successful in Q4, matching sentiments expressed by Michaël van de Poppe for CoinTelegraph on September 3.

The upcoming election will undoubtedly be one of, if not the, most influential events to the crypto market in Q4. While a sitting president does not have direct control over the specific regulatory decision for crypto, the policies and priorities of the next administration will undoubtedly impact the future of the industry.

In a September 9 report, Bernstein Private Wealth Management predicts that Bitcoin could rise as high as US$90,000 if presidential candidate Donald Trump wins the US election in November, while a victory for current Vice President Kamala Harris could cause its value to plummet to US$30,000. Democrats have historically taken a more rigid stance in terms of regulation and consumer protection, although that tone appears to be changing.

The crypto industry has remained keenly tuned to potential shifts in leadership at key agencies such as the US Securities and Exchange Commission (SEC), which has had a contentious relationship with the crypto industry under Chairman Gary Gensler’s leadership. During a hearing by the US House of Financial Services Committee on September 25, senators in favor of a friendly crypto environment in the US criticized Gensler’s “reckless” handling of the industry.

Many voices in the crypto community have called for regulation to be designated to the Commodity Futures Trading Commission instead, and the agency has argued that at least 70 percent of cryptocurrencies, including Bitcoin and Ethereum, should be considered commodities and not securities.

At the peak of Trump’s favorability following President Joe Biden’s exit from the race, 10x Research analyst Markus Thielen predicted that Gensler would likely leave the SEC in early 2025. With Harris as the new Democratic nominee, there has been no indication that she plans to replace Gensler if she wins, but the confirmation of SEC Enforcement Director Gurbir S. Grewal’s departure from the SEC on October 11 has prompted speculation that he could be next.

FIT21, a bill designed to provide regulatory clarity and strong consumer protections for the digital asset industry, made history in May when it was the first crypto legislation to pass in the US House of Representatives. It has since been deferred to the Senate Committee on Banking, Housing, and Urban Affairs.

At Crypto4Harris, a virtual town hall event organized by advocates and held on August 15, Senate Majority Leader Chuck Schumer said he was hopeful that crypto legislation could be passed this year; however, thus far the Senate has not scheduled a vote, making it challenging to forecast the likelihood of the bill’s passage.

In addition to FIT21, Congressman John Rose (R-TN) introduced the BRIDGE Digital Assets Act to Congress on September 12. This bill seeks to establish a joint advisory committee consisting of members of the SEC and Commodity Futures Trading Commission. It was referred to the Committee on Financial Services and the Committee on Agriculture.

The House’s next session is scheduled for November 12 to 21.

Investor takeaway

As the industry continues to mature, the final quarter of 2024 promises to be a defining period for the crypto market. With continued institutional adoption, evolving regulations and the rising interest in altcoins, this period could witness significant growth and innovation within the industry.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Pakistani police fired tear gas and charged at student protesters who ransacked a college building Thursday, as anger spread over an alleged on-campus rape, prompting the government to shut schools, colleges and universities for two days.

Tensions have been high on college campuses since reports of the alleged rape in the eastern city of Lahore spread on social media, and protests have broken out in four cities.

Sexual violence against women is common in Pakistan, but it is underreported because of the stigma attached in the conservative country. Protests about the issue have been rare.

Thursday’s violence started when hundreds of students demonstrated outside a campus in the city of Rawalpindi in Punjab province. They burned furniture and blocked a key road, disrupting traffic, before ransacking a college building. Police responded by swinging batons and firing tear gas to disperse them, police official Mohammad Afzal said.

Police said they arrested 250 people, mostly students, on charges of disrupting the peace. News of the arrests panicked parents, who struggled to get their children released.

In Gujrat, also in Punjab province, a security guard died in clashes between student protesters and police on Wednesday. Police arrested a person in connection with the death.

They also arrested a man who is accused of spreading misinformation on social media about the alleged rape and inciting students to violence.

Earlier this week, more than two dozen college students were injured in clashes with police in Lahore after they rallied to demand justice for the alleged victim, who they said was raped on campus at the Punjab Group of Colleges.

On Thursday, the government banned rallies and shut educational institutions in Punjab for two days, apparently to prevent more protests, officials said.

The Federal Investigation Agency said it has registered cases against 36 people accused of spreading misinformation about the case on social media.

Authorities, including the province’s chief minister, said there was no assault, as did the woman’s parents. But Punjab police on Thursday urged people to share any information about the alleged rape.

Mauz Ullah, a student at the college where the woman was allegedly raped, said they were protesting to seek justice for her.

He said he did not believe the college or police “as they kept changing their position” on the alleged assault. He said the college initially denied any such incident took place. “If no such incident had taken place, then why did they arrest a guard?” he asked.

The protests appear to have begun spontaneously. Student unions have been banned in Pakistan since 1984.

On Thursday, Usman Ghani, the head of the youth wing of the Jamaat-e-Islami opposition party, demanded an end to the ban on student unions, saying they might have helped resolve the matter without violence.

He said cases of sexual abuse at educational institutions are common.

“But the main thing is how you respond to make sure that the attackers don’t get away without getting arrested,” he said.

Hasna Cheema, from the rights group Aurat Foundation, said neither Pakistani police nor the media were trained to handle such sensitive matters.

“They turn things from bad to worse instead of solving them,” Cheema said.

The Sustainable Social Development Organization said last month that there were 7,010 rape cases reported in Pakistan in 2023, almost 95% of them in Punjab.

“However, due to social stigmas in Pakistan that discourage women from getting help, there is a high chance that due to underreporting the actual number of cases may be even higher,” it said.

This week’s protests come less than a month after a woman said she was gang-raped while on duty during a polio vaccination drive in southern Sindh province.

Police arrested three men. Her husband threw her out of the house after the reported assault, saying she had tarnished the family name.

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The last time Charles and Camilla visited Australia in 2018, local marriage celebrant Lesley Kerl wore a bright red dress and managed to get close enough to the royal couple to strike up a conversation.

Naturally, it was about tea – a subject close to the heart of many British people – as Kerl passed Charles, then prince now King, a gift of a teapot from people further back in the crowd of flag-waving supporters.

“I got the bug after I saw him that time,” said Kerl, who counts herself as a supporter of the British royals, but not necessarily a diehard monarchist.

Kerl will be in Sydney on Tuesday to try to meet the 75-year-old British sovereign again during his first tour to a Commonwealth realm since acceding the throne.

After Australia, King Charles will head to Samoa to join world leaders at the biennial Commonwealth Heads of Government Meeting (CHOGM), his first as head of the organization.

This is the King’s first long-haul multi-country trip since his cancer diagnosis earlier this year, and his schedule has been lightened over the 11-day trip to provide rest times during a pause in his treatment.

Like any royal tour, there’ll be organized pageantry, but also predictable talk around dinner tables, on television and online about when Australia might cut ties with the House of Windsor.

The consensus seems to be that it won’t happen anytime soon – not least because of Australia’s poor record on passing referendums that are required for any change to the country’s constitution.

For the government, the defeat of the most recent referendum last October – not on a republic but to enshrine an Indigenous advisory group in the constitution – was a painful lesson in the expense of holding such a vote and the damage it can do in a country with sharply divergent views.

Hello and farewell?

The sails of Sydney’s famed Opera House will be lit up on Friday for the royal couple’s arrival, but some of the pre-trip conversation has been less than welcoming.

Republicans have rebranded the visit as the “the farewell Oz tour,” selling merchandise including T-shirts featuring the faces of the leading royals as if they were members of a rock band on the verge of breaking up.

“We’d love to wave goodbye to royal reign,” Nathan Hansford, co-chair of the Australian Republic Movement, told Reuters.

For Bev McArthur, a member of state parliament, such sentiments are “disrespectful.”

“This man is having cancer treatment. He seems to have put that on hold to come out to Australia, as part of the Commonwealth,” McArthur said.

She’s equally disappointed with the response of state premiers who reportedly declined invitations to meet the King and Queen at a royal reception due to diary clashes.

“I think they’re just unable to take the republican hats off their heads,” said McArthur, a member of the Victorian parliament. “The least we can do is have our leaders pay the respect that he deserves.”

Other pressing concerns

The monarch’s arrival comes around one year to the day after the failed Voice referendum, which dealt a crushing blow to many of Australia’s minority Indigenous population.

It would have enshrined an Indigenous advisory body in the constitution to give Aboriginal and Torres Strait Islander people a greater say in policies relating to them.

Instead, it was voted down – and to many, the King’s arrival is another painful reminder of the dispossession, slaughter and attempted erasure of their people.

For others, the trip is an irrelevant distraction from a cost-of-living crisis as mortgage-holders struggle to find extra cash to finance loans inflated by high interest rates.

In a week where Prime Minister Anthony Albanese was reported to have bought a 4.3 million Australian dollar ($2.9 million) clifftop beach house, talk has also turned to the lack of housing affordability.

For the average Australian, lauding a visiting monarch from a palace in a foreign land is not high on their list of priorities.

A notable trip

While he has traveled overseas since his diagnosis, such as popping over the English Channel to mark the 80th anniversary of the 1944 D-Day landings in Normandy in June, this trip will be a significant moment for Charles.

“It is notable that he is visiting Australia in the year after his coronation, as this echoes the 1954 tour by his late mother, Queen Elizabeth II following her coronation in 1953,” said George Gross, royal historian and visiting research fellow at King’s College London.

The lack of travel to Commonwealth realms following his accession had raised eyebrows. The announcements of the first overseas tours to Germany and France were met with surprise. Those trips were followed by a visit to Kenya, which is a Commonwealth member but not a realm.

Charles is head of the Commonwealth organization – an association of 56 independent countries. Of those 14 nations, he is also head of state – in addition to the United Kingdom – though the role is largely ceremonial. Many had expected a stop in New Zealand might have been on the cards while he was in the region. However, while it had been considered, it was ultimately decided against following medical advice.

Aides have been working to ensure this long-haul tour is not too taxing on Charles. Each engagement will have been carefully handpicked to reflect the royal couple’s interests, and where necessary, have been modified to minimize any risks to his convalescence.

They’ll spend time in the Australian capital Canberra, where they will be welcomed by Albanese – who supports a republic – and other government leaders.

They’ll also pay their respects to the country’s fallen at the Australian War Memorial and the Aboriginal and Torres Strait Islander memorial.

Charles will also meet with award-winning professors Georgina Long and Richard Scolyer – the current Australians of the Year. They’re working on a treatment for melanoma, one of Australia’s most common cancers, and Scolyer himself has been treated for brain cancer.

The King’s program also includes several environmental engagements, and the couple will attend a timeless Aussie ritual – a community barbecue. Australians will also get a chance to see the royal couple outside the Opera House.

Kerl plans to be there, once again wearing bright clothing to try to catch the King’s attention.

In some ways, she’s carrying on a family tradition. Back in the 1930s, her father traveled with his mother from Australia to the United Kingdom to see the coronation of King George VI.

“That’s the type of royal blood I came from. They went from Australia via a ship in those days,” she said.

Kerl’s one-hour train ride from the New South Wales coast will be a lot shorter – but she thinks it’s important to show solidarity with a figure she’s long admired from afar.

“I’ve grown up like with him and (Princess) Anne, and here he is finally and having his turn as King. So, I like to support him,” she said.

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More than a year after Hamas’ devastating October 7 attacks on Israel, the country’s military said Thursday it had killed the man it considers to have been the chief architect of that cross-border massacre – raising questions about the future of the war and of the militant group itself, which has faced blow after blow in recent months.

The death of Hamas leader Yahya Sinwar could pose a rare opportunity to strike a ceasefire, US officials say – with Israel having killed several other top Hamas commanders including Ismail Haniyeh, the group’s former political leader, as well as leaders of militant group Hezbollah in Lebanon.

Hamas and Hezbollah are both part of an axis of militant groups backed by Iran.

In a recorded video message Thursday, Israeli Prime Minister Benjamin Netanyahu said Sinwar’s death marked “the beginning of the day after Hamas,” but “the task before us is not yet complete.”

Hamas is yet to comment on the reports of its leader’s death.

Here’s what you need to know.

How did it happen?

Since the October 7 attacks, Israel has poured their resources into a fierce manhunt for Sinwar, declaring him as the most-wanted man in Gaza and a “dead man walking.” At one point, an Israeli military spokesperson said their hunt “will not stop until he is captured, dead or alive.”

And, US officials believe, the Israeli military got close a few times, at one point even obtaining a video that purportedly showed Sinwar with several family members inside a Gaza tunnel – but he continued slipping away. The Israeli military previously surrounded Sinwar’s house and carried out an intensive assault on his hometown of Khan Younis, but could not find him.

That year-long search finally came to an unexpected end on Wednesday in Rafah, southern Gaza. Israeli forces had been in the area during a routine military operation when they came under fire near a building, according to two Israeli sources familiar with the matter.

The troops returned fire with a tank, then flew a drone into the heavily damaged building, according to the Israeli military. The video, shared by the military, shows what seem to be Sinwar’s final moments: he sits alone in a chair, surrounded by dust and rubble, appearing to look directly at the camera. He holds a piece of wood in his hand, and throws it at the drone before the video ends.

It was only then, and when troops inspected the rubble, that they realized Sinwar was among the bodies, according to the Israeli military.

Dental records and other biometrics helped Israel identify the Hamas leader, according to a US official and former official familiar with the matter.

Sinwar had been trying to escape to the north when he was killed, said another Israeli military spokesperson on Thursday. He was found with a gun and more than $10,000 in Israeli shekels, the spokesperson said.

Who was Sinwar?

Sinwar had long been a key player in Hamas, joining the militant group in the late 1980s and quickly rising through the ranks.

He was born in a refugee camp in Gaza, after his family was displaced from the Palestinian village of Al-Majdal – now part of the Israeli city Ashkelon – during the Arab-Israeli war.

As a student, Sinwar became an anti-occupation activist, but he was imprisoned in Israel on several life sentences after being accused of orchestrating murder. He served 23 years before being released as part of a prisoner swap in 2011.

Sinwar returned to Gaza and quickly established his name in Hamas. He founded the group’s feared international intelligence security branch, the Majd, and was known for employing brutal violence against anyone suspected of collaborating with Israel.

He was also viewed as a pragmatic political leader by some: in 2017, Hamas elected Sinwar as the political chief of the Politburo, its main decision-making body in Gaza.

Sinwar was designated a global terrorist by the US Department of State and the European Union in 2015, and was sanctioned by the United Kingdom and France in recent years.

But he rose to greater prominence after the October 7 attacks as one of Israel’s key targets. Israeli officials have called him the “face of evil” and “the butcher from Khan Younis.”

He became one of Hamas’ most senior leaders in August after Ismail Haniyeh was assassinated in Iran. Sinwar had not been seen since the October 7 attacks, likely surviving Israel’s siege of Gaza by bunkering in a vast network of underground tunnels.

What was his role on October 7?

Israel has publicly accused Sinwar of being the “mastermind” behind Hamas’ October 7 attack – though experts say he was likely one of several.

The attack was the deadliest assault on Israel in its history. Hamas and other Palestinian armed groups killed more than 1,200 people, mostly civilians, and took about 250 people into Gaza as hostages.

Sinwar was considered a vital decision-maker and likely the outside world’s main point of contact in Gaza during the intense negotiations over the hostages’ return.

The talks involved senior figures from Israel, Hamas, the United States, Qatar and Egypt.

What comes next?

While it’s too soon to say what may happen next or how Hamas may respond, Sinwar’s killing marks the latest blow to the group – which has seen several top leaders picked off one by one during Israel’s campaign to dismantle Hamas entirely.

Only a day after Haniyeh’s assassination, Israel confirmed it had killed Hamas’ military chief Mohammed Deif during a previous strike – another one of the reported masterminds behind October 7.

With a ceasefire and hostage release deal to pause the war stubbornly stuck for months, senior US officials had clung to the hope that Sinwar might one day be taken out – opening a pathway to a resolution. With him now gone, officials speculate this could be one of the best chances of bringing the Israel-Hamas war to an end, but are reticent to make any predictions about what that will ultimately mean for the volatile region.

US President Joe Biden spoke with Netanyahu on a call Thursday, where “both leaders agreed that there is an opportunity to advance the release of the hostages and that they would work together to achieve this objective,” the prime minister’s office said in a readout.

But much remains unknown – including the fate of Sinwar’s brother.

If Mohammed survived this week, he will likely continue his brother’s hardline negotiating tactics as Israel seeks to extract its remaining hostages from the Palestinian enclave. But until a clear picture emerges, it will be hard to know the militant group’s next move.

And another front of the conflict is ramping up across the Israel-Lebanon border, with Hezbollah announcing a “new and escalating phase” in its war with Israel on Thursday.

Hezbollah, too, has suffered significant losses in recent months – from the deadly pager and walkie-talkie attacks that killed dozens and injured thousands, many of them civilians, to the assassinations of several high-ranking commanders including their chief Hassan Nasrallah last month.

“Sinwar has died, but so many of our people have been killed, and there is no excuse now for Netanyahu to continue the war,” said 22-year-old Mumen Khalili.

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