Investing.com - Gold prices rose to one-month highs on Friday as economic and political uncertainty underpinned safe haven demand for the precious metal.Gold for June delivery closed up 0.82% at $1,266.65 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal was up 1.16%.Gold remained higher even as the dollar firmed up after data showing that the U.S. economy...Read More
by Danielle BochoveFrom Canada's Yukon to southern Patagonia, outbreaks of gold-rush fever are popping up as bullion markets stage a tentative recovery.The number of holes drilled at gold deposits has been rising steadily for more than a year, according to S&P Global Market Intelligence. And while early-stage exploration budgets haven't kept pace with spending at existing mines, prospecting hot sp...Read More
Silver futures prices moved higher again on Friday with July delivery contracts exchanging hands for $17.38 an ounce as the metal continues to claw back territory lost earlier this month. Silver is now up 8% since hitting its 2017 low on May 9.Only around 30% of annual supply comes from primary silver mines while more than a third is produced at lead/zinc mines operations and a further 20% from co...Read More
Chile's Codelco, the world's top copper miner, swung back to profit in first three months of the year, posting a pre-tax profit of $534 million for the period versus a loss logged a year ago, which is more than the $435 million the state-owned company earned in total last year.The copper giant cited improved metal prices - up about 18% in the last seven months - as one of the factors that contrib...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, has warned that up to 6% of it expected output for 2017 may be severely hit by a ban on mineral concentrate exports affecting its subsidiary Acacia Mining (LON:ACA), in Tanzania.The Toronto-based miner, which holds a 63.9% stake in Acacia, noted that if the subsidiary needed to revise its forecast for the current...Read More
Investing.com - Gold prices moved higher on Friday, but gains were expected to remain limited as the greenback recovered from recent losses posted after the release of the minutes of the Federal Reserve's meeting.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.43% at $1,261.83.The June contract ended Thursday's session 0.26% higher at $1,256.40 a...Read More
Azerbaijan-focused miner Anglo Asian Mining (LON:AAZ), the country's top gold producer, has swung back to profit and sharply reduced outstanding debt on the back of higher copper output and a better bullion prices.The London-listed miner doubled its copper production from 969 tonnes to 1,941 tonnes last year, thanks mainly to the first full-year of production from a new flotation plant. Silve...Read More
History never repeats itself, but often it does have a habit of rhyming. Looking at the posturing going on in the London Stock Exchange this week, it seems that observation is as true as ever.History never repeats itself, but often it does have a habit of rhyming. Looking at the posturing going on in the London Stock Exchange this week, it seems that observation is as true as ever. One of London's...Read More
Investing.com - Gold prices were higher in European trade on Thursday, staying near the strongest level in around three weeks as the U.S. dollar slipped after the Federal Reserve signaled a cautious approach to future rate hikes and the reduction of its $4.5 trillion balance sheet.Comex gold futures rose $5.00, or around 0.4%, to $1,258.07 a troy ounce by 2:35AM ET (06:35GMT). Meanwhile, spot gold...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
Lately I have read dozens of pieces speculating on the timing of a transition of automobiles from human-driven oil based combustion engine-powered to computer-controlled battery-powered machines. We know it will happen and the guesses as to timing are getting closer and closer. What should be obvious is that one of the most important technological advances in history is taking place right under...Read More
Tom Beck, senior editor of Portfolio Wealth Global, says in times of rate hikes, industrial metals rise fastest, and in today's world, the type of metals in highest demand by China are going to rise the most.For close to 35 years, we've seen a tremendous amount of changes in our world: mobile phones, now turning into smartphones, the Internet, which brought entire industries down and birthed new o...Read More
Tanzanian President John Magufuli has fired his mining minister after results of an audit of containers carrying ore published Wednesday showed exports had been understated.Minister Sospeter Muhongo was not the only casualty of the investigation, as the President also show Dominic Rwekaza, chief executive of Tanzania Minerals Audit Agency, the door and asked authorities to investigate those respon...Read More
* STOXX 600 up 0.1 pct* Banco BPM rise on talk of bad loans sale* But Deutsche Bank drops after U.S. request* Fiat falls on emission bill worries* Dixons, Britvic rise after results (Adds details, closing prices)By Kit ReesLONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, struggled to gain momentum on Wednesday, with strength in banks and big o...Read More
By Gul YusufzaiQUETTA, Pakistan, May 24 (Reuters) - Pakistan has arrested a Taliban militant leader authorities describe as the "mastermind" behind three major attacks in Baluchistan, a spokesman for the government of the restive southwestern province said on Wednesday.Militant and separatist violence has long riven Baluchistan, which has rich reserves of natural gas, copper and gold, and is at th...Read More
* STOXX 600 up 0.2 pct* Oil stocks, banks lend support* Fiat falls after U.S. lawsuit* Glencore dips, makes approach to Bunge (Adds quotes and detail, updates prices)By Kit ReesLONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, struggled to gain momentum on Wednesday, with strength in oil producers was offset by weakness in mining and autos stocks...Read More