Breaking News Today – Monday 1 September 2025

Business & Tech News 

Platinum Shortfall Drives Prices to a One-Month-High

Platinum futures climbed above $1,373 per ounce in early trade this morning, reaching a one-month high with several factors driving the prices higher. Supply concerns gave support to the price, with global platinum production remaining in deficit for three straight years as demand continues to outpace output. The World Platinum Council projects another shortfall of roughly 848,000 ounces in 2025. On the demand side, the metal remains underpinned by its strategic role in hydrogen fuel cell technology and the global transition toward green energy adoption.

Added to this was a higher expectation for a US Federal Reserve rate cut. San Francisco Fed President Mary Daly signaled Friday that the central bank is prepared to lower borrowing costs given labor market risks, while noting that tariff-driven inflation may prove temporary. Markets are now pricing in about an 88% probability of a 25 basis point cut by the US Federal reserve in September.

Silver and Gold Futures Price Rally

This morning Silver surged 2% to above $40 per ounce on Monday, reaching its highest level since September 2011, driven by firm expectations of a US Federal Reserve rate cut later this month. The precious metal has seen a bull run this year with a 41.75% growth in value in the past year and up by over 8% in the last month. Meanwhile gold has seen increased safe-haven demand grow, prices climbed above $3,470 per ounce this morning, nearing the yellow metal’s high amid uncertainty over US trade tariffs and increased bets for a US interest-rate cut.

A federal appeals court ruled that Trump’s global tariffs were illegally imposed under an emergency law, upholding a May ruling by the Court of International Trade. But these tariffs will be allowed to persist until October 14, giving the Trump administration time to appeal to the Supreme Court. Separately, a hearing on Trump’s move to fire Fed Governor Lisa Cook ended without a decision, and a ruling is not expected to arrive before at least tomorrow.

Asian Markets Hit September With a Positive Stride:

Hong Kong stocks jumped 526 points or 2.1% to hit 25,600 in morning trade today, the first session of the new month, extending gains from the prior session as investors cheered upbeat Chinese factory data. The RatingDog China General Manufacturing PMI climbed to 50.5 in August, above July’s reading and consensus of 49.5, marking the highest level since March, with output back in growth and new orders rising the most in five months. Consumer and tech shares each surged over 2%, while property and financials also logged strong advances.

On the mainland, equities rose for a third day, staying near decade highs. A mixed U.S. futures tempered further strength after the S&P 500 Friday posted a fourth straight monthly rise on Fed rate cut signals. Alibaba Group climbed 12.9% after saying AI was key to expanding its cloud computing business. The Shanghai Composite gained 0.3% to above 3,870 while the Shenzhen Component added 0.2% to 12,720 on Monday, advancing for the third straight session as investors welcomed stronger-than-expected manufacturing data. A private survey showed factory activity returned to growth in August, defying expectations of further weakness, as both new orders and export business improved. 

Business, Tech & Market News Shorts: 

• Around 40% of Nvidia’s second quarter revenue came from just two customers, according to a filing with the Securities and Exchange Commission. the global chipmaking giant reported record revenue of $46.7 billion during the quarter that ended on July 27 — a 56% year-over-year increase.
• Scale AI’s former Senior Vice President of GenAI Product and Operations, Ruben Mayer — has departed Meta after just two months after Meta bought the data labelling group for $14.3 billion and moving senior developers over to Metas labs, with speculation that the partnership is not happy.
• Kenya’s inflation rose to 4.5% year-on-year in August from 4.1% the previous month, largely driven by higher prices of food and transport. Monthly inflation growth was at 0.3% in August, compared with 0.1% a month earlier, the Kenya National Bureau of Statistics said in a statement.
• Mauritius Prime Minister Navinchandra Ramgoolam, has fired the central bank’s second deputy governor, according to a local newspaper report on Friday, citing government sources. and follows local media reports of a rift between top officials at the Bank of Mauritius that alarmed Ramgoolam
• Egyptian police have been arresting teenaged TikTokkers with millions of followers, detaining dozens on accusations ranging from violating family values to laundering money. Police have announced dozens of arrests and prosecutors say they are investigating at least 10 cases of alleged unlawful financial gains. They have imposed travel bans and asset freezes and confiscated devices.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is currently trading softer against the Euro at 1.17105 and against the Pound at 1.35213. The Yen is currently trading at 146.99 to the dollar. The rand (ZAR) is currently at R17.64 to the US dollar.

Commodities:

• Gold futures prices are trending upwards this morning, over the key $3450 level and are currently trading around $3476.58 per ounce.  
• Copper prices are trading higher today, with prices currently at $4.5247
• Silver futures prices have surged over 1.8% this morning, above the $40 mark to a 14-year high, and currently at $40.424
• Platinum futures are trading around 1% higher this morning, and are currently trading at $1377.30 While Palladium prices are trading over 1.8%higher this morning and currently at $1126.50
• Brent crude oil prices are currently trading lower, and currently at $67.26, with WTI trading at $63.82 
• Cocoa futures are trending over -1.3% lower this morning, and are currently at $7635.00 per ton. 
• Coffee futures are marginally higher today, and currently at $398.07

Crypto Currencies:

• Bitcoin prices are currently trending lower today and currently at $107846 
• Ether prices are currently trending softer today and at $4392.15
• $Trumpcoin is currently up by over 2% today and currently trading around $8.56

(All prices quoted at approximately 07H35 Central African Time) 

Other Breaking News in Africa Today

Police and Prisoners Perish in Head-on Collision

A head-on collision in Namibia involving vehicles belonging to the security services has killed 16 people.The accident took place 270km south of the capital, Windhoek, outside the town of Mariental on Saturday. “No words can truly capture the depth of this loss,” President Netumbo Nandi-Ndaitwah wrote on social media, praising “the souls of our fallen officers”. Namibia has one of the highest road traffic fatality rates in the world. Two civilians and 14 officers were among those confirmed to have been killed in the crash. 

Namibia’s Ministry of Home Affairs initially put the death toll at 14, but in an update on Sunday said that this had now risen as a police officer and prison officer had died of their injuries after being taken to hospital. She explained that 19 people in total were travelling in the two vehicles.The police van had been carrying six passengers – five officers and a civilian – and the Namibian Correctional Service had 13 people on board when the deadly collision occured.