Investing.com - Gold prices rose more than 1% on Monday, rebounding from nine-and-a-half month lows as the dollar reversed some of its post U.S. election gains after surging to almost 14-year highs last week.Gold for December delivery was trading at $1,192.5 a troy ounce by 0934 GMT, after earlier rising as high as $1,197.00.The precious metal touched a low of $1,171.21 per ounce on Friday, a leve...Read More
(Adds company news item, updates futures)Nov 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 5 points at 6,836 on Monday, according to financial bookmakers, with futures FFIc1 down 0.25 percent ahead of the cash market open.* The UK blue chip index closed 0.2 percent higher on Friday at 6,840.75, making its third straight week of gains as weakness in banking and mining stocks wa...Read More
Nov 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 5 points at 6,836 on Monday, according to financial bookmakers.* The UK blue chip index closed 0.2 percent higher on Friday at 6,840.75, making its third straight week of gains as weakness in banking and mining stocks was offset by strength in pharma shares. BP: BP BP.L has agreed to buy 10 percent of Eni's ENI.MI Shorouk con...Read More
While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals seems only to be gaining momentum.The copper price added 7.7% last week, while nickel rose more than 6% and tin continued its good run. Both zinc and lead enjoyed double digit gains with the former reaching a near nine-y...Read More
It appears the Turkish government is attempting to suppress criticism of a mine disaster last weekend that killed 12 miners and left four still missing.The Guardian reports that Turkish authorities detained a journalist working for the BBC's Turkish-language service in southeastern Turkey. The female reporter was apparently attempting to speak with relatives of the miners who died at the mine. No...Read More
Investing.com - Gold prices closed at the lowest level in nine months on Friday as expectations for higher U.S. interest rates continued to cloud the demand outlook for the precious metal.Gold for December delivery settled down 0.53% at $1,183.00 on the Comex division of the New York Mercantile Exchange, the lowest close since February 5.Safe haven demand for gold has been hit since the U.S. presi...Read More
By Melanie BurtonMELBOURNE, Nov 25 (Reuters) - A plan by Zambia to put a duty on copper concentrates imports could put a kink in the global supply chain for the metal, industry sources said, by forcing neighbouring Democratic Republic of Congo (DRC) to send surplus mine output elsewhere.The 7.5 percent duty announced earlier this month and due to come into force at the start of 2017, is likely to...Read More
By Manolo Serapio JrMANILA, Nov 25 (Reuters) - Surging volatility in China's iron ore futures is sending global prices on a roller-coaster ride, spelling risks for traders and steel mills, some of whom are losing faith in a market swayed by speculative Chinese money.Amid wild swings in futures, spot iron ore prices .IO62-CNO=MB surged by a record 23 percent in the second week of November, only to...Read More
China's Chinalco, the country's main mining company, has inked a preliminary deal with Peru's government to expand Toromocho copper mine, the Asian nation's largest overseas copper project.The move is part of a series of agreements signed this week that will see China pouring close to $5.3 billion into Peru's mining and energy sector, Andina news agency reported.Move is part of a series of agreeme...Read More
Copper, until recently one of the worst performing commodities in the past two year, is having a great month, with prices up about 20% to more than $5,700 a tonne Thursday.The rally, which began on the heels of Donald Trump winning in the US presidential election, has been partly based on speculation regarding the impact of the President-elect's $500 billion infrastructure plans on demand for the...Read More
* Dollar index near 14-year high after upbeat U.S. data* Yen and euro pressured* Emerging market central banks seen intervening* Yuan near 7 per dollar level for first time since May 2008* India's rupee, Turkish lira at record low after rate rise* Prospects of China, U.S. inflation buoy copper, zinc* Crude oil little changed amid OPEC meeting uncertaintyBy Marc JonesLONDON, Nov 24 (Reuters) - The...Read More
* Dollar index near 14-year high after upbeat US data* Yen, euro, emerging market cen banks seen intervening* Yuan near 7 per dollar level for first time since May 2008* India's rupee, Turkish lira at record low* Prospects of China, U.S. inflation buoy copper, zinc* Crude oil little changed amid OPEC meeting uncertaintyBy Marc JonesLONDON, Nov 24 (Reuters) - The dollar surged to a near 14-year hig...Read More
Investing.com - Gold prices eased on Thursday after falling to their lowest levels since February as the dollar paused after surging to fresh 14-year peaks.Gold for December delivery was trading at $1,187.55 a troy ounce by 0946 GMT, after earlier falling as low as $1,179.75, a level not seen since February 8.The U.S. dollar index, which measures the greenback's strength against a trade-weighted b...Read More
(Adds company news items, futures)Nov 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 4 points, on Thursday, according to financial bookmakers, with futures FFIc1 up 0.22 percent ahead of the cash market open.* The UK blue chip index ended flat on Wednesday after a choppy day, with individual sectors diverging as finance minister Philip Hammond delivered the biggest economic upd...Read More
Nov 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 4 points, on Thursday, according to financial bookmakers.* The UK blue chip index ended flat on Wednesday after a choppy day, with individual sectors diverging as finance minister Philip Hammond delivered the biggest economic update since Britain voted in June to leave the European Union. BRITAIN BUDGET: Britain has ramped up i...Read More
Robert Friedland, executive chairman of Ivanhoe Mines (TSX:IVN), and CEO Lars-Eric Johansson, announced today that excellent progress has been made by Ivanhoe in upgrading and modernizing the Kipushi Mine's shafts, pumping stations and underground infrastructure as part of the plan to prepare the mine for the restart of commercial production. The mine now has clear and safe access to all of the ma...Read More
Toronto, ON -- November 22, 2016. Mining companies were awarded and celebrated last night for their investments in renewable energy at a glittering awards gala and dinner in Toronto. Mining companies from Canada, Chile, Mexico, Australia, and South Africa received awards for their investments in wind and solar technologies at the Energy and Mines Renewables and Mining Awards."These mining companie...Read More
Bob Moriarty of 321 Gold highlights BCGold, a company that he believes its promising land package in Peru makes it a good buy in this market.Almost ten years ago I went to central Peru some sixty-five miles east of Lima to see an area that had been abandoned when the Shining Path guerillas moved in. The Chanape Mining District was home to some of the best mining projects and mines in Peru. All w...Read More
World's second largest miner Rio Tinto (ASX, LON:RIO) is selling an aluminum smelter and hydro-electric power plants in Scotland to two affiliates of energy and metals group GFG Alliance for $410 million ( ?330m), as part of its efforts to cut debt.The deal comprises Rio's Alcan Aluminium UK Ltd. unit, which includes the operating aluminum smelter at Fort William, the hydroelectric facilities...Read More
President Trump plans on Making America Great Again. And to do this he plans on investing several-hundred billions of dollars into rebuilding and repairing infrastructure across the United States, including highways, bridges, tunnels, airports, schools, and hospitals.The policy was also proposed by Secretary Clinton, indicating broad bipartisan support in Congress for this investment. Infrastruc...Read More