Breaking News Today- Monday 28 July 2025

Business & Tech News 

Platinum Prices take a Breather

Platinum futures have seen a 0,7% growth in early trade today, after slipping just below $1400 on Friday. This small correction followed a bull run in the last six-months with platinum futures hitting a record high of $1480 on July 21. however, in the previous two trading sessions priced have dropped to low $1400 levels, losing momentum as profit-taking and a stronger US dollar weighed on precious metals broadly. The recent dip followed South African data showing a 10.4% monthly rebound in PGM mining output in May, signalling a recovery in supply after months of underperformance. At the same time, China’s platinum imports—very strong from March to mid-June—have moderated, suggesting softer short-term demand. At current prices the metal is still up almost 50% from a year ago and up 4,8% this month so far.

Chocolate Profits Melt with High Cocoa Prices:

Cocoa futures rose to $8,450 per tonne, driven by ongoing supply issues despite recent improvements. Over the past two years, prices have more than doubled due to poor weather and disease issues in the two key production regions of Ivory Coast and Ghana, which supply over 60% of global cocoa. While prices have cooled from December’s record highs as production saw improvement and demand slowed, they remain historically high. Ivory Coast’s cocoa exports reached 1.508 million tons by June 30, up 1.3% from last season, but exports between January and June dropped 10% year-on-year. High cocoa costs have continued to impact the global chocolate industry. Hershey recently announced a double-digit price hike on its products, citing rising ingredient costs. Meanwhile, Swiss chocolatier Lindt reported lower-than-expected first-half earnings, after a steep 15.8% price increase in their product range hurt sales.

Crypto Currencies Continue Bull Run:

Bitcoin prices recovered this morning from a dip last Friday with prices falling as low as $114821 after some profit taking and then rebounded to a peak of over $11900 this morning. Current price is in the $119200 range with other crypto majors such as ether, Solana showing growth. Bitcoin prices have increased by over 27% year-to-date and by over 78% in the past year. Binance prices have spiked by over 8% in the past week and hitting an all-time new high of $852 last Friday

Business, Tech & Market News Shorts: 

• U.S. insurance giant Allianz Life has reported that hackers have breached their IT system and stole the personal information of the “majority” of its customers, financial professionals, and employees during a mid-July data breach.
• First half year profits for China’s industrial firms declined 1.8% from a year earlier to CNY 3.44 trillion in the first half of 2025, widening from a 1.1% fall in January–May. The data highlights persistent deflation pressures and growing trade uncertainty amid broad U.S. tariffs. State-owned enterprises experienced steeper losses (-7.6% vs. -7.4% in January-May)
• Copper futures hovered around $5.76 per pound on Monday, holding near record highs as markets braced for the implementation of a 50% US tariff on copper imports set to take effect on August 1. Investors remained cautious amid a lack of detail from the Trump administration regarding which copper products will be subject to the new levy. 
• The US and China are due to meet in Sweden today for a fresh round of trade tariff talks with as expectations that the world’s two biggest economies could agree an additional 90-day extension to their trade war truce. The US has also announced a 15% trade tariff deal with the EU after negotiations between US President Donald Trump and European Commission President Ursula von der Leyen in Scotland over the weekend.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is slightly stronger this morning, and trading against the Euro at 1.17441 and against the Pound at 1.34967 The Yen is currently at 147.10 to the dollar. The rand is currently at R17.64 to the US dollar. 

Commodities:

• Gold futures prices are currently trading softer and currently at $3356.84 per ounce.  
• Copper prices are trading lower today, and currently at $5.7852 
• Silver futures prices are also trading lower today, and currently at $39.005
• Platinum futures are around -1% lower this morning, and are currently trading at $1419 While Palladium prices are trading -1% lower this morning and currently at $1277
• Brent crude oil prices are currently at $69.63, with WTI trading at $66.44. 
• Cocoa futures have fallen by over -2.5% this morning, and currently at $8232 per ton. 
• Coffee futures are currently trading at $2305

Crypto Currencies:

• Bitcoin prices are trending over -2% lower today, and currently at $115551
• Ether prices are trending -2,6% lower this morning and currently at $3625.90
• $Trumpcoin is currently trading around $9.75

(All prices quoted at approximately 07H45 Central African Time) 

Other Breaking News in Africa Today

Horror DRC Church Attach Leaves Dozens Dead

Dozens of people were killed on Yesterday in an attack on a church in the eastern Democratic Republic of Congo believed to have been carried out by Islamic State-backed rebels. Civil society leaders said suspected members of the Allied Democratic Force (ADF) stormed the building in the town of Komanda, armed with machetes and guns. The attack took place as Catholic Christians attended an overnight prayer vigil at the church, run by the Caritas charity. Several houses and shops were also burnt down and the search continues for missing people. Dieudonne Duranthabo, a civil society coordinator in Komanda in Ituri province, said it was “incredible” that an attack like this could occur in a town where security officials are present. He has demanded a military intervention as soon as possible saying they had been told that “the enemy is still near our town”.