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Gold reverses losses on Friday, climbing to a 2-month high near $3,450. Despite a firmer US Dollar, bullion found renewed demand as traders maintained bets on Fed easing. US Core PCE rose 0.3% MoM and 2.9% YoY in July, while headline PCE gained 0.2% MoM and held steady at 2.6% YoY. Gold (XAU/USD) reverses course on Friday, erasing intraday losses and climbing back to fresh highs. The precious metal is now trading near $3,447, its strongest level since June 16, after the US Personal Consumption Expenditures (PCE) inflation report came broadly in line with expectations. A softer tone in the US Dollar (USD) helped underpin bullion, with traders maintaining bets on monetary policy easing in September. At the time of writing, XAU/USD is up around 0.85% on the day, recovering sharply from early weakness near $3,404 in the European session. The metal remains on track to secure solid monthly gains, supported by safe-haven flows, Fed policy expectations, and persistent geopolitical and economic uncertainty. Concerns over the Fed’s independence have further bolstered its appeal, and short-term corrections are likely to be viewed as dip-buying opportunities within the broader bullish trend. Data from the Bureau of Economic Analysis showed that the Core PCE Price Index rose 0.3% month-on-month in July, matching forecasts and unchanged from June’s pace. On a yearly basis, core inflation edged up to 2.9% from 2.8%, marking its highest level since February. Headline PCE increased 0.2% MoM, in line with estimates but slightly softer than June’s 0.3%, while the yearly rate held steady at 2.6%. Market movers: Greenback holds ground, yields stabilize, markets eye US inflation data The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, is holding firm after a three-day decline. At the time of writing, the index trades near the 98.00 mark, struggling around the lower end of this month’s narrow range. US Treasury yields are steady across the curve, with the benchmark 10-year halting a three-day slide and hovering near 4.22%, close to four-month lows. The 30-year yield is snapping a two-day losing streak, trading around 4.90%. Meanwhile, the 10-year TIPS yield is seen near 1.81%. Geopolitical tensions remain elevated as peace efforts falter. Following the meeting between Russian President Vladimir Putin and US President Donald Trump in Alaska, the White House said it believed Putin had agreed to meet with Ukrainian President Volodymyr Zelenskyy and that planning was “underway.” However, German Chancellor Friedrich Merz told reporters on Thursday that it now seems clear no such meeting will take place, casting doubt on the prospects for a negotiated settlement. The remarks came just hours after a deadly Russian missile strike on Kyiv that killed at least 23 people and damaged European Union (EU) and British diplomatic offices, underscoring the fragile and deteriorating state of the conflict. Fed independence concerns deepened on Thursday as President Trump’s attempt to dismiss Fed Governor Lisa Cook escalated into a legal showdown. Cook filed a lawsuit challenging the move as unlawful, citing the Federal Reserve Act, and sought a temporary restraining order to block her removal. A court hearing is scheduled for Friday, keeping the issue in sharp focus for markets. Fed Governor Christopher Waller reinforced expectations for policy easing on Thursday, stating that he supports a 25 basis point (bps) rate cut starting in September, with further reductions potentially totaling 125-150 bps over the next three to six months. Waller downplayed the case for a larger 50 bps move next month but added, “That view, of course, could change if the employment report for August points to a substantially weakening economy and inflation remains well contained.” US Personal spending grew 0.5% in July, ahead of the expected 0.3% and faster than June’s 0.3% gain. Personal income rose 0.4% MoM, in line with consensus and above the prior 0.3%, reinforcing evidence that household consumption remains resilient despite signs of a softer labor market. Technical analysis: Gold consolidates above $3,400, PCE report eyed as next catalyst Gold (XAU/USD) trimms losses on Friday after finding support just above the $3,400 mark, rebounding toward Thursday’s peak at $3,423 — its strongest level in over five weeks. The $3,400 psychological handle now acts as immediate support, with additional downside cushions at the 21-period Exponential Moving Average (EMA) near $3,395 and the 100-period EMA around $3,365. The Relative Strength Index (RSI) is approaching overbought territory, currently hovering near 70. The indicator remains firmly in bullish territory, suggesting buyers could continue to step in as long as the $3,400 support holds. On the upside, Thursday’s high at $3,423 marks initial resistance. A sustained break above this barrier could extend the advance toward the $3,450 psychological region. Conversely, a move below $3,400 would risk exposing the $3,380-$3,370 area, where stronger technical support is layered. With the US core PCE report as the next catalyst, short-term direction will likely hinge on whether Gold can defend the $3,400 base or push decisively beyond $3,423 resistance. Economic Indicator Core Personal Consumption Expenditures – Price Index (MoM) The Core Personal Consumption Expenditures (PCE), released by the US Bureau of Economic Analysis on a monthly basis, measures the changes in the prices of goods and services purchased by consumers in the United States (US). The PCE Price Index is also the Federal Reserve’s (Fed) preferred gauge of inflation. The MoM figure compares the prices of goods in the reference month to the previous month.The core reading excludes the so-called more volatile food and energy components to give a more accurate measurement of price pressures. Generally, a high reading is bullish for the US Dollar (USD), while a low reading is bearish. Read more. After publishing the GDP report, the US Bureau of Economic Analysis releases the Personal Consumption Expenditures (PCE) Price Index data alongside the monthly changes in Personal Spending and Personal Income. FOMC policymakers use the annual Core PCE Price Index, which excludes volatile food and energy prices, as their primary gauge of inflation. A stronger-than-expected reading could help the USD outperform its

Filling from ground level Southampton-based Commercial Fuel Solutions has developed a ground-level AdBlue fill solution that is designed to enhance safety and ease of use for heavy machinery operators. The system eliminates the need for operators to climb ladders with 10-litre AdBlue cans to refill tanks mounted 2.5 metres off the ground. Instead, it allows AdBlue to be dispensed from ground level using a bowser. Specifically engineered for rugged environments such as quarries and construction sites, the system has already been installed on a range of Volvo excavators for Chepstow Plant, including the EC750, EC380, EC480 and EC400F models, and can also be fitted to the EC500F. It mounts onto the excavator, with a compact, vehicle-mounted pump and control panel that draws power from the machine’s own 12-volt electrical supply. A dry break interface and external control panel enable operators to refuel without accessing elevated or unstable areas. A built-in level switch provides automatic shut-off to prevent overfilling. “No more balancing on ladders or hauling heavy cans. This solution puts operator safety first without compromising productivity,” said James Lovelock, senior design engineer at Commercial Fuel Solutions. “It’s powered directly from the machine, with automatic shut-off to prevent overfill, making it smart, safe and seamless.” Matt Jennings, major account manager at Volvo dealer SMT, said: “The safety benefits of a ground level AdBlue fill solution for operatives in the quarrying and aggregate sector are a game changer. Thanks to the hard work and perseverance of the SMT team at the Machine Preparation Centre in Immingham and Commercial Fuels Systems’ team, the industry is a safer place to work.” He added: “This complex project bridged across two generations of Volvo CE excavators providing a solution tailored to each excavator size and available space within the machine’s toolbox compartment. This negates the need to climb on machine track pads and platforms whilst carrying heavy canisters of diesel exhaust fluid (DEF). Since release as a third-party option by SMT Great Britain, more customers have begun adopting this safety-enhancing solution.” The system has been three years in development – Chepstow Plant approached SMT in May 2022 to develop a one-man, ground-level AdBlue fill solution with auto shutoff. SMT in turn approached Commercial Fuel Solutions. Chepstow Plant, safety, health, environment and quality (SHEQ) director Cath Pickett said: “This simple solution, eliminating foreseeable daily work at height events will make a significant difference to the safety of both Chepstow Plant operators and client operators. Our ambition to take the lead on this will see real change filter down to the industry, making refuelling excavators safer for all.” Got a story? Email news@theconstructionindex.co.uk Read More

Roger Bullivant’s new 5509 driven piling rig After three years of piling for Vistry Group, Roger Bullivant is continuing its involvement with Drakelow by delivering piling works for Taylor Wimpey on the latest phase of this major residential scheme. Bullivant, part of France’s Vinci group since 2011, has been appointed to install more than 1,000 driven precast concrete piles to support Taylor Wimpey’s delivery of 68 new homes at its development in Burton-on-Trent. Bullivant has already installed more than 7,000 driven piles across multiple phases. The ground conditions at Dracan Village are highly variable, comprising made ground, clays and weathered Mercia Mudstone. Driven precast concrete piles were selected as the most economical and technically suitable solution for these conditions. Also, their rapid installation process minimises programme durations and disruption, while their displacement method avoids the need for spoil removal, making them a cleaner, more sustainable choice, Bullivant says. With no curing time required, they also allow for immediate follow-on works, helping developers stay on schedule and within budget. The works also mark one of the first uses of Roger Bullivant’s new 5509 driven piling rig, designed in-house for quieter, cleaner and more efficient piling operations. “This is a continuation of a strong working relationship with Taylor Wimpey,” said Nathan Sale, south central pre-construction manager at Roger Bullivant Limited. “Our in-depth knowledge of the site, combined with our proven track record here, allowed us to recommend the most cost-effective solution.” The Drakelow development holds special significance for the company, as the site was once home to its 250-acre head office and manufacturing facility. As the development project has grown, Bullivant has installed more than 52,700 metres of piles and 24,000 linear metres of its RBeam foundation platform. Got a story? Email news@theconstructionindex.co.uk Read More

Hampshire County Council and Devon County Council have published a pre-market engagement notice for the sixth iteration of their southern construction framework, SCF6. SCF6, valued at £4.5bn over five years, launches in May 2027; procurement begins in early 2026. The local authorities behind the framework are inviting interested suppliers to help shape an initial set of proposals. SCF5, which still has more than 18 months to run, has been used for the procurement of £1.59bn of public sector projects over the last two years, reaching 83% of its turnover target in just 54% of the framework’s term. As with previous generations of the framework, SCF6 will predominantly support contracting authorities with construction projects across the southeast, southwest and London regions but will be open to all public sector bodies in England. It is intended to operate for all projects above £1m and will be split into geographic and value based lots. In recognition of changing market needs, SCF6 will explore the use of single stage and hybrid approaches for certain project values, having previously been exclusively a two-stage procurement route.  Kingsley Clarke, head of SCF South West, said of the pre-engagement phase: “We encourage potential suppliers to engage with the questionnaire we’re launching today and contribute to shaping the next iteration of the framework. “Whilst SCF will always promote and foster early contractor engagement and a collaborative approach to secure the best outcomes for project delivery, we acknowledge that we need to consider being more open to a single stage or hybrid approach to projects of a certain value, and welcome contractor contributions on this and more.” SCF has traditionally operated on projects over £4m, with both Devon and Hampshire having domestic frameworks supporting the delivery of projects below this value. In the last four years, these domestic arrangements have been brought under the SCF brand. Under SCF6, the Councils intend to combine these procurements, both for their own internal efficiencies and to reduce bidding costs across the supplier base. The preliminary engagement notice text can be found here. The survey can be found here. Got a story? Email news@theconstructionindex.co.uk Read More

M&J Evans’ operating profit was up by 31% in 2024 Walsall-based M&J Evans Construction saw turnover dip slightly in the year ended 31st December 2024 to £323.3m (2023: 334.3m) but increased operating profit by 31% to £5.1m (2023: £3.9m). Profit before tax was up 67% to £3.8m (2023: £2.2m), supported by lower exceptional charges Group order book grew 13% to £504.0m (2023: £446.3m), with the tender strike rate improving to 25.3% (2023: 23.8%). The company’s new Eastern Counties region began winning work, contributing £17.8m to the year-end order book. The balance sheet shows cash of £25.2m (2023: £18.2m) while a refinancing during the year has extended debt maturity by four years and added £9m of additional liquidity Chief executive Chris Southgate said that the improvement in profits in the face of a challenging market backdrop was down to tight cost control and disciplined contract management. He said: “Despite ongoing challenges in the UK housing market, FY24 was a year of strong financial and operational progress for M&J Evans, backed by tight cost control. We delivered significant growth in profits, strengthened our balance sheet and continued to deliver against our strategy. “The launch of our Eastern Counties region has been a particular success, contributing meaningfully to our order book in its first year and validating our focus on driving regional growth. Looking ahead, with a robust order book, strong balance sheet and increasing signs of recovery in the housing market, we remain confident in our future prospects.” Got a story? Email news@theconstructionindex.co.uk Read More

Cargo theft is no longer a series of isolated incidents—it’s a well-organized, tech-enabled criminal enterprise, and it’s accelerating. In 2024 alone, freight thefts surged 27% year over year, with the average value of a stolen load hitting over $200,000. What’s more alarming is how sophisticated these operations have become.  If you’re a transportation provider or logistics partner, it’s time to rethink security at the trailer level, where theft risk is concentrated.   How thieves are adapting faster than fleets  Modern cargo theft has evolved into a precision crime. Criminals now monitor fleet operations, track drivers and use stolen identities to double broker or intercept loads. According to CargoNet, fictitious pickups alone have risen more than 1,000% in just two years.  Their playbook is expanding. Criminals target not just high-value electronics, but everyday items with high resale value like beverages, cosmetics and over-the-counter supplements. And they’re leveraging technology just like you are.  The result? Fleets not only lose loads, but also face insurance premium hikes, compliance headaches and potential reputational damage.  Why trailer-centric visibility is the new baseline  Here’s the truth: trucks and drivers rotate. Trailers don’t. That’s why modern security starts at the trailer level.  Fleet leaders are embracing trailer visibility solutions that go well beyond basic GPS. These systems deliver:  Door sensor alerts for unauthorized access  Tractor-trailer mismatch notifications  Route deviation detection using geofencing  Camera footage on door opens and interior movement  TMS integration for real-time validation  This level of visibility allows dispatch teams to intervene early, enforce routing policies and verify activity at every handoff point.  Real-world defense in action  Let’s take a look at how two major fleets are defending their operations using ORBCOMM’s trailer visibility platform. Transportation Services, Inc. (TSI) With 2,000 trailers across North America, TSI adopted a trailer-centric strategy to secure high-value cargo moving across borders. They use tracking, door alerts and geofencing to manage no-stop policies and trailer assignments. The result? Faster response to exceptions and tighter control over third-party carrier activity. C.R. England Before implementing trailer visibility, C.R. England relied on daily yard checks. Now, with ORBCOMM’s solution integrated into their TMS, they can remotely verify trailer availability and receive alerts for incorrect pairings. Security meets operational intelligence  This isn’t just about stopping theft—it’s about smarter asset utilization. Trailer visibility helps fleets reduce dwell time, optimize trailer pool management, monitor their mixed assets with confidence and enforce data-driven policies. Every data point adds to your understanding of how trailers are moving—and how they’re exposed.  Visibility also builds credibility. Carriers that offer tracking capabilities to customers reduce service calls, increase transparency and add a layer of third-party accountability. In an era of high-value, time-sensitive shipments, this peace of mind can be a differentiator.  What to look for in a trailer visibility provider  Not all trailer tracking is created equal. If you’re evaluating trailer visibility solution providers, focus on:  Coverage: Does it work cross-border? Satellite, cellular or both?  Alert customization: Can you configure different triggers for different loads?  Integration: Does it plug into your TMS or load boards?  Frequency: How often does it verify asset pairing or route compliance (if at all)?  Ease of use: Can your team (and your customers) act on what it delivers?  Tackle theft with comprehensive trailer visibility  Theft is no longer something you hope to avoid—it’s something you prepare for. The good news? With trailer visibility, preparation also drives performance.  ORBCOMM trailer visibility solutions give you more than alerts—they give you total remote control over your assets, and insightful data to improve every move.  In today’s freight landscape, that’s not just a defensive play. It’s a business advantage.  Cody Lirette is Senior Content Marketing Manager at ORBCOMM. With over a decade of marketing and communications experience for both the public and private sector, he uses his passion for innovative technology and plain language to build compelling content that inspires action. Read More

Prime Minister Narendra Modi met Cai Qi, a close aide of Chinese President Xi Jinping and a member of the Politburo Standing Committee, in Tianjin on Sunday during his visit to China. Ministry of External Affairs said that the prime minister shared with Cai his vision for bilateral relations and sought his support to realise the vision of the two leaders. “Cai reiterated the Chinese side’s desire to expand bilateral exchanges and further improve relations in line with the consensus reached between the two leaders,” it said. In a post on X, sharing photos of PM Modi and Cai Qi, MEA Spokesperson Randhir Jaiswal wrote, “Building on, and in line with, the leaders’ meeting today, they touched on bilateral economic, political and people-to-people exchanges between India and China.” Who is Cai Qi, the influential Chinese Communist Party leader? Cai Qi, a member of the Politburo Standing Committee, is Xi Jinping‘s chief of staff. He is the first person to hold both positions since the Mao era, and is said to enjoy exceptional trust and empowerment from Communist China’s supreme leader. His role as China’s No. 5 also makes him the highest-ranked official on the body in charge of convening the Politburo. A Fujian province native, Cai first met Jinping in the 1980s. Today, he is considered to be on a similar standing to China’s No. 2 Premier, Li Qiang, thanks to Jinping, who has stacked the party’s top body with loyalists. People who worked with Cai remember him as intelligent and approachable. He was remembered as a prolific social media user with 10 million followers who brought attention to issues such as youth suicide. But after Jinping became the leader, Cai’s online accounts went silent, and his public persona hardened. He was called to Beijing to serve on China’s top national security commission. Cai was soon catapulted to the top decision-making Politburo, a rare leap for an official who had never served in the much larger Central Committee, which was normally a prerequisite. In 2017, Cai became Beijing’s party chief, in charge of securing the home of the nation’s top rulers. He earned a reputation as a hardliner. According to a Bloomberg report, after a deadly fire in Beijing threw a spotlight on its poorer population, Cai vowed to “see blood” in a campaign against illegal migrant dwellings that left thousands homeless, and drew widespread public criticism. Cai Qi is one of the first officials to publicly refer to Xi Jinping in equal terms to Mao, saying that he was “piloting at the helm,” a phrase previously reserved for Mao. Steve Tsang, director of the SOAS China Institute, said, “Cai’s power comes from enjoying the confidence and patronage of Xi,” he added. “The security of a hatchet man rests ultimately on retaining the trust of the supreme leader,” Tsang added. Read More

The most expensive home listing in the country right now is not in Beverly Hills or Manhattan. It is in Aspen, Colorado, where billionaire couple Lynda and Stewart Resnick are asking a staggering $300 million for their estate, a 74-acre property known as Little Lake Lodge, according to Newsweek. The compound sits at 161 Stillwater Road and covers nearly 27,500 square feet. Think 18 bedrooms, 20 full bathrooms, another four half-baths, and wide-open views straight into the Rocky Mountains. Sotheby’s photos show a bright alpine lodge with soaring timber beams, walls of glass, and enough space to make it feel like its own resort. The property comes with an 80-foot infinity pool, a private lake, and miles of trails that double as cross-country ski runs in winter. And even with all that land, it is just a mile from downtown Aspen – secluded, but not cut off. The Resnicks behind the sale The sellers are no small names. Both in their 80s, the Resnicks built the Wonderful Company, the food and beverage empire behind FIJI Water, POM Wonderful, Teleflora, and massive nut and citrus operations across California. Forbes pegs their combined net worth at $12.6 billion, making them the country’s wealthiest farmers. Philanthropy has been a big part of their story – they’ve pledged more than $2.5 billion over the years – but so has controversy. Their almond and pistachio crops take huge amounts of water, drawing fire in a drought-stricken state. A 2021 Forbes report estimated Wonderful uses around 150 billion gallons a year. Critics have also pointed to their control of the Kern Water Bank. Still, as Newsweek noted, the couple wasn’t linked to the Los Angeles County fires earlier this year, and they donated $10 million after the disaster. Could this set a record? The Resnicks bought the land back in the early ’90s and spent many summers there. But with a new home recently finished near Santa Barbara, they are ready to downsize. “Just too hard,” Lynda told The Wall Street Journal of managing three big properties. Aspen homes already rank among the priciest in the nation. Realtor.com data shows the median list price this summer was $3.7 million, with sales closer to $2 million. The record in Aspen so far is $108 million, paid when Steve Wynn and Thomas Peterffy teamed up on a property. If the $300 million ask holds, this sale would crush that record – and even top hedge fund manager Ken Griffin’s $238 million New York penthouse purchase in 2019, still the most expensive US home sale to date. There is also a $285 million spec home in Florida’s Manalapan up for grabs. But at the moment, the Aspen estate sits at the top of the list – the crown jewel of US real estate. FAQs Who owns the Aspen estate now on the market? Billionaires Lynda and Stewart Resnick, owners of the Wonderful Company. How big is the property? It spans 74 acres with 18 bedrooms and over 27,000 square feet of space. What is the asking price? The couple is seeking $300 million, according to Newsweek. Why are the Resnicks selling? Lynda Resnick told The Wall Street Journal maintaining three homes had become “too hard.” What’s the current US record home sale? Ken Griffin’s $238 million Manhattan penthouse purchase in 2019. Read More