Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More

The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More

The price of UK inter-merchant light-iron steel scrap narrowed on Friday October 29 with the domestic and export markets remaining strong, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?185-195 ($255-268) per tonne on Friday, narrowing from ?175-195 per tonne the week before."It's quite busy. There is a lot...Read More

Indian domestic secondary billet prices increased slightly by end of the week to Friday October 29 on renewed buying interest and rising raw material prices.Fastmarkets' price assessment for steel billet domestic, ex-works India was at 46,500-46,700 rupees ($620.03-622.70) per tonne on Friday, up by 200 rupees compared with the previous week's assessment of 46,300-46,500 rupees per tonne ex-works....Read More

MOSCOW, Oct 29 (Reuters) - Two key Russian shareholders of Croatian food producer and retailer Fortenova Grupa, formerly known as Agrokor, have started consulting investment banks about taking the company public in the next 2-3 years, two sources said.Fortenova, one of the biggest companies in southeastern Europe, was saved from bankruptcy in a restructuring deal with local and foreign creditors i...Read More

(Updates prices and adds details)SHANGHAI, Oct 29 (Reuters) - China's yuan gave up earlier gains and ended domestic trading at a near two-week low against dollar on Friday, as major state-owned banks bought the greenback.The onshore yuan opened at 6.3918 per dollar and finished the domestic session at 6.4009, 91 pips weaker than previous late night session, the softest such close since Oct. 18.Sta...Read More

Import steel billet prices into China fell again toward the end of the week, hampered by continued power shortages and efforts by traders to re-route cargoes sold to that country.Chinese trading companies have tried to divert their position billet cargoes into Southeast Asian markets during the week, a behavior that started with panic over falling prices setting in the prior week. Most of these ca...Read More

TOKYO (Reuters) -Tokyo Kikai Seisakusho Ltd on Friday won a major court victory in its quest to use a poison pill defence against its biggest shareholder - a closely watched ruling that could make certain kinds of hostile bids in Japan far more difficult.The Tokyo District Court rejected a request for an interim injunction from Asia Development Capital (ADC), saying that the investment firm's shar...Read More

LISBON, Oct 29 (Reuters) - Portugal's economy expanded 2.9% in the third quarter compared with the previous three months as the easing of most coronavirus rules allowed more businesses to reopen and spurred exports, data from the National Institute of Statistics (INE) showed on Friday.INE said that between July and September the country's tourism-dependent economy grew by 4.2% from a year earlier....Read More

Oil prices rose again on Tuesday,approaching multi-year highs amid concerns over steadily shrinking US crudereserves.FundamentalAnalysis U.S. API Weekly Crude Oil Stock: Inventory levels of US crude oil, gasoline and distillates stocks, AmericanPetroleum Institute (API) via InvestingRegarding the API figures publishedTuesday, the increase in crude inventories (with 2.318 million barrels versus1.65...Read More

Oct 29 (Reuters) - Global equity funds saw solid inflows in the week to Oct. 27, boosted by robust third-quarter earnings results from companies worldwide, easing concerns over inflation and supply chain constraints.Investors purchased a net $24.52 billion in global equity funds, their largest net buying since the week to March 17, Lipper data showed.Major U.S. stock indexes rallied to a new peak...Read More

BEIJING, Oct 29 (Reuters) - China published rules on Friday that require its globally systemically important banks to beef up capacity to absorb losses to head off financial instability.Those banks must meet specific total loss-absorbing capacity (TLAC) targets from 2025, the People's Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC) and the Ministry of Finance sa...Read More

Precious metals expert Michael Ballanger delves into the Federal Reserve's actions going back decades that affect the price of gold.One of the benefits (or luxuries) of being removed from the commuting rat-race of my earlier life is the ability to devote large swaths of free time to reading – to the acquisition of either new sources of knowledge or new frameworks of opinion, neither of which...Read More

BENGALURU (Reuters) -Indian shares closed in the red for the third straight session on Friday, dragged by banks and IT firms, with heavy outflows from foreign investors adding to concerns of overvaluations.The blue-chip NSE Nifty 50 index fell 1.04% to 17,671.65 and the benchmark S&P BSE Sensex closed down 1.1% to 59,306.93. Both the indexes fell for a second straight week, losing more than 2%.For...Read More

KINSHASA, Oct 27 (Reuters) - The International Monetary Fund on Wednesday revised upward this year's economic growth forecast for the Democratic Republic of Congo to 5.4% due largely to higher-than-expected mining production.The IMF said in statement that it had also reached a staff-level agreement with Congo's government on the first review of a three-year $1.5 billion extended credit facility th...Read More

(Recasts with revised windfall levy rate, adds details on budget allocation)KUALA LUMPUR, Oct 29 (Reuters) - Malaysia has agreed to raise the threshold for its palm oil windfall profit levy effective next year and will set the tax rate at 3% nationwide, the finance minister said on Friday.The threshold price for companies in Peninsular Malaysia will be increased to 3,000 ringgit ($725) from 2,500...Read More

LONDON (Reuters) - Amazon and Apple earnings curbed enthusiasm for global equities on Friday, though the euro held near one-month highs on euro zone rate rise hopes.Amazon.com reported a slump in profit late on Thursday that it expects will continue through the holiday quarter, as higher pay to attract workers and other operational disruptions diminish the company's windfall from online shopping.S...Read More

MEXICO CITY, Oct 29 (Reuters) - Mexico's economy shrank 0.2 percent in the third quarter compared with the previous three-month period, the first quarterly decline since recovery from the pandemic began, preliminary data from national statistics agency INEGI showed on Friday.The seasonally-adjusted contraction in gross domestic product (GDP) compared with the consensus forecast from a Reuters poll...Read More

Oct 29 (Reuters) - The U.S. auto sector's production slump this year is more than a big minus for Detroit - it's a major drag on the entire economy.Gross domestic product growth slowed to the weakest pace in more than a year during the third quarter at just 2% annualized. That was less than a third of the growth rate in the preceding quarter. read moreWhile the Delta variant of COVID-19 played a...Read More

The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More

A summary of production figures and financial results from Brazilian steelmaker Usiminas for the third quarter of 2021, as shown in its earnings report published on Friday October 29.In brief?EUR?Usiminas' strategy of buying third-party steel slab to be rolled at the Cubat??o mill was maintained, with a significant increase in purchases year-on-year in the third quarter to 502,000 tonnes, from 240...Read More

A summary of Glencore's 2021 third-quarter production report for the coal sector, released on Friday October 29.In briefThe company's coal production for the year to September 30 was 76.3 million tonnes, some 7.2 million tonnes (9%) lower than the comparable period in 2020, reflecting a full period with its Prodeco operations in Colombia under care and maintenance, the progressive recovery from th...Read More