Gold will remain strong as long as global equity markets are weak.Gold's relative strength vs. stocks, bonds and currencies is growing.Without additional dollar weakness, though, gold's upside is limited. Without the intense fear generated by the global stock market rout, gold would surely be without any meaningful support. To that end, gold bulls can be thankful that gold's safety bid has...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday October 30, with broad strength in the US dollar index prompting sharp drops in the three-month copper and zinc prices, while aluminium drifts to levels unseen since August 2017.Reaching a low of $1,966 per tonne, the three-month aluminium price has come under increased pressure over the latter hal...Read More
A new high last week.Gold was crawling higher after breaking out.Danger ahead if history repeats.Higher rates are baked in the market.The dollar poses the most significant risk.Gold bulls had a rough summer in 2018. After making higher lows since late 2015, the price of the precious metal broke its bullish pattern in July when the price declined below the December 2017 low at $1236.50 per ounce. G...Read More
London Metal Exchange members will be permitted to clear via London even if no Brexit deal is reached, although it remains unclear whether this reprieve would also apply in the event of Brexit being agreed with a deal on March 29, 2019.European Commission vice-president Valdis Dombrovskis said in media reports on Tuesday October 30 that the move was designed to ensure a catastrophic impact on clea...Read More
LONDON, ON. - Fortune Minerals reports that the governments of Canada and the Northwest Territories have accepted the environmental assessment approval for the modified Tlicho all-season road. The modifications were developed with the Tlicho government through a consultation process managed by the Mackenzie Valley Environmental Impact Review Board. The Tlicho government also approved the board...Read More
Thunder Bay, ON - Wolfden Resources continues to drill high-grade massive sulphide mineralization at its Pickett Mountain project in Maine, where it has two diamond drills turning.In its latest results, Wolfden reported a 12.7-metre intercept starting from 240 metres below surface, and grading 6.6% zinc, 2.8% lead, 1.5% copper, 99.4 g/t silver, and 0.6 g/t gold (or 10.9% combined zinc, lead and co...Read More
Our global operations need billions of dollars of goods and services every year to support the extraction of products for our customers - safely, productively and sustainably.When our Supply teams buy these good and services they create partnerships with global suppliers and local businesses in our communities.And these partnerships extend way beyond the standard buyer/seller relationship.The Trom...Read More
BHP Billiton Ltd.'s giant Olympic Dam mine in Australia's Outback is a labyrinth of 450 kilometers of tunnels and roads - an ideal testing ground for the industry's burgeoning shift toward cleaner power.Taking about 30 minutes to drive from top to bottom, there's ample opportunity for the world's biggest miner to test electric SUVs in a bid to cut both costs and pollution, including potentially ha...Read More
China's stimulus efforts aimed at preventing the economy from slowing further and minimizing the impact of U.S. tariffs are supporting raw materials demand, according to Rio Tinto Group."The Chinese machine is still working very well," CEO Jean-Sebastien Jacques said Tuesday in an interview with Bloomberg Television.China has had a spurt of local bond issuance intended to fund roads, homes and oth...Read More
The world's largest mining company, BHP (ASX, NYSE:BHP) (LON:BLT) today downgraded its economic growth forecasts for the world's two biggest economies, in what it calls a "lose-lose" outcome from increasing trade tensions.The miner now expects China's GDP growth to be "half to three quarters" of a percentage point lower over the next two years, chief commercial officer Arnoud Balhuizen said at a m...Read More
Comex copper prices tumbled to a mid-September low on October 30 morning in the US amid rising bearish sentiment in the equity market, a rising dollar and ongoing worries regarding the trade war between the US and China.The copper price for December settlement on the Comex division of the New York Mercantile Exchange tumbled 5.70 cents to $2.6835 per lb. Earlier in intraday trading, the contract h...Read More
* RBI "looked the other way" when banks lent excessively - Jaitley* Banks lent indiscriminately in 2008-2014 - Jaitley* Comments come after RBI official's call for more independence (Updates with quotes, background, details)By Manoj Kumar and Suvashree ChoudhuryNEW DELHI/MUMBAI, Oct 30 (Reuters) - India's Finance Minister Arun Jaitley blamed the Reserve Bank of India on Tuesday for failing to stop...Read More
* Trump expects "great deal" with China, but more tariffs if not* IEA's Birol says fuel demand could take a hit* US crude stocks up 5.7 mln bbls, more than forecast-API (Adds API data on U.S. crude inventories)By Stephanie KellyNEW YORK, Oct 30 (Reuters) - Oil prices dropped more than 1 percent on Tuesday on signs of rising supply and concern that global economic growth and demand for fu...Read More
NEW DELHI, Oct 30 (Reuters) - India's finance minister Arun Jaitley criticised the Reserve Bank of India (RBI) for failing to prevent lending excess in a speech on Tuesday."The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014," Jaitley said while speaking at an event in New Delhi.Tensions between the finance ministry and the RBI have risen since the bank...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
Investing.com - Gold prices fell on Tuesday as the safe haven demand for the dollar was boosted by concerns over the pending trade dispute between the U.S. and China.At 10:25 AM ET (14:25 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange lost $6.80, or 0.55%, to $1,225.80 a troy ounce.Meanwhile, the U.S. dollar index, which measures the greenback&rs...Read More
* European stocks stumble back into the red* French consumer spending data, Italian GDP weighs* Dollar at 2 1/2-month high, Wall Street futures point higher* Yuan at 10-year low, metals sink on trade war worries* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Oct 30 (Reuters) - European shares laboured in the red and China's yuan hit a 10-year low on Tuesday as the pr...Read More
(IDEX Online) - Bonhams said that a set of Chameleon diamonds will be auctioned at its Rare Jewels and Jadeite sale in Hong Kong on 25 November. A diamond necklace (pictured above) featuring nine Chameleon diamonds weighing 13.87 carats is expected to fetch between HK$1,600,000 and HK$3,000,000 ($200,000-$380,000). "Chameleon diamonds are amongst the rarest and most mysterious of c...Read More
(IDEX Online) - Russian diamond miner Alrosa has joined the pilot program of Tracr, the end-to-end diamond industry blockchain traceability platform being developed by the De Beers Group in collaboration with industry stakeholders from the manufacturing and retail sectors. "Following the announcement of the Tracr pilot earlier this year, Alrosa's involvement brings the world's two largest d...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesHallgarten & Company analyst Christopher Ecclestone said in a note this week that China's "weaponisation" of copper by flooding the market with its stockpiled supply in retaliation for US tr...Read More