State-owned Indonesian miner PT Indonesia Asahan Aluminium (Inalum) on Thursday sold $4 billion of bonds in its first-ever U.S. dollar bond deal to fund the acquisition of a majority stake in the world's second-biggest copper mine.The deal came amid choppy global markets, rocked by trade concerns and slowing economic growth in Asia - including Indonesia - that have made it hard for emerging market...Read More
TOKYO, Nov 8 (Reuters) - Japan's Sumitomo Metal Mining Co Ltd posted a 52 percent jump in half-yearly pre-tax profit on Thursday but cut its full-year forecast, blaming lower-than-expected metal prices amid the U.S.-Sino trade spat, and reduced nickel output."It doesn't seem that there will be a quick settlement in the U.S.-China trade conflicts, which suggests no quick recovery in prices of metal...Read More
Aston Bay Holdings (TSX-V: BAY) has just completed the transaction to acquire all of the issued and outstanding stock of Jack's Fork Exploration (JFE). The acquisition was completed by way of a reverse triangular merger of Blue Ridge Mining, a wholly owned subsidiary of the company, into JFE, resulting in JFE being renamed "Blue Ridge Mining" and becoming a direct and wholly-owned subsidiary of As...Read More
• A follow-through USD buying/Fed rate hike expectations kept exerting downward pressure. • The prevalent cautious mood underpins safe-haven demand and helped limit deeper losses. • Investors now eye the latest FOMC monetary policy update for a fresh directional impetus. Gold continued with its steady intraday decline and refres...Read More
US mid-term elections are behind us. Surprisingly, both parties won! How is it possible? Let’s read our article and find out! We will also explain what the election results imply for the world and the gold market. Democrats Win The elections were very interesting. We provide you with the key takeaways, focusing on the possible implications for the precious metals. First, Democrats took contr...Read More
Published 22 Hours AgoUpdated5 Hours AgoReuters Gold eased to a one-week low on Thursday, as a recovery in the dollar and improved appetite for riskier assets pushed investors away from bullion.Spot gold fell 0.13 percent to $1,224.09 per ounce, after touching its lowest since Nov. 1 at $1,219.59 earlier in the session.U.S. gold futures for December delivery settled down $3.60 at $1,225.10 per oun...Read More
* U.S. crude output tripled since 2008: https://tmsnrt.rs/2D82k38* China can still import some Iranian crude* U.S. output to top 12 mln bpd by mid-2019 -EIA(Updates with settlement prices, post-settlement trading)By Jessica Resnick-AultNEW YORK, Nov 8 (Reuters) - Oil prices fell nearly 2 percent on Thursday as investors focused on swelling global crude supply, which is increasing more quickly than...Read More
Gold is on the defensive, possibly due to gains in the greenback. The metal may suffer deeper losses below key rising trendline support. China trade data could influence the dollar index and gold. Gold is flashing red in Asia, possibly due to gains in the US dollar - gold's biggest nemesis. At press time, the yellow metal is trading at $1,225 - down 0.25 percent on the day - and the dollar i...Read More
* S&P extends losses, Dow goes negative after Fed decision* Energy index tumbles as U.S. crude oil enters bear market* Bank stocks end higher as yields rise* Dow up 0.04 pct, S&P falls 0.25 pct, Nasdaq down 0.53 pct(Updates to close, adds commentary)By Sin?(C)ad CarewNEW YORK, Nov 8 (Reuters) - The S&P 500 and Nasdaq closed slightly lower on Thursday after a Federal Reserve statement,...Read More
(Recasts with Fed announcement, adds comment, updates prices)* Gold edges down for a fifth straight session* Fed holds interest rates steady* Platinum near more than 4-month highsBy Sethuraman N R and Karthika Suresh NamboothiriNov 8 (Reuters) - Gold eased to a one-week low on Thursday on a stronger dollar, after the Federal Reserve held interest rates steady and was seen on track for further rate...Read More
In one of the few exploration projects it is funding next year, Cameco (TSX: CCO; NYSE: CCJ) and its joint-venture partners Orano Canada and Purepoint Uranium (TSXV: PTU) are planning a 36 km ground-electromagnetic survey and 6,000 metres of diamond drilling at their Hook Lake uranium project in Saskatchewan.Cameco owns 39.5% of the project in the province's Patterson uranium district, with...Read More
Investing.com - Gold prices erased gains seen a day earlier when news that the Democrats had taken control of the House of Representatives, effectively creating a political gridlock in Congress, had dampened demand for the dollar and benefited the precious metal. As gold pulled back to Tuesday’s closing price, investors focused their attention on the upcoming monetary policy decision from th...Read More
Nov 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of November 6, 2018. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- Accurate Products Corporation Pvt Ltd BGCRISIL A3+7Reaffirmed Active Tools Pvt LtdPacking CreditCRISIL A4+80R...Read More
Gold futures posted their first climb in four sessions on Wednesday, buoyed by a weaker dollar in the wake of midterm elections that will leave the U.S. with a divided Congress. "I view the results as supportive of a lower dollar and higher gold prices because the only thing that comes out of a gridlocked Congress is higher spending," Brien Lundin, editor of Gold Newsletter, told MarketWatch. "T...Read More
Polished trading slow as Indianmarket shuts for Diwali. Dealers focused on US orders ahead of holiday season,but hoping for boost from China's 11/11 Singles' Day. Alibaba expanding diamondand jewelry platform, enabling Belgian and Israeli suppliers to sell directlyto consumers. US e-commerce expected to rise 15% in Nov.-Dec. Rough tradingcautious ahead of De Beers sight as manufacturers hold large...Read More
Market very quiet, with most businesses closed for Diwali. Factoriesexpected to stay shut for two to four weeks, as dealers are stuck with largeinventories over the break. Jewelers report encouraging sales during thefestival, boosted by lower gold prices due to weak rupee. RoundRead More
RAPAPORT... The diamond and jewelry trade tends to be reactive rather than proactive. That was clear during the recent conference season, with the World Federation of Diamond Bourses (WFDB), the International Diamond Manufacturers Association (IDMA), the World Jewellery Confederation (CIBJO) and the World Diamond Council (WDC) all holding their annual meetings in October. Much of the discussion, a...Read More
RAPAPORT... Alrosa has reduced its full-year sales outlook amid weakerdemand for small stones in the second half, the miner said Thursday. The company expects to sell 37 million to 38 million caratsthis year, down from the 39 million to 40 million carats it forecast in June. The miner has seen a shift to higher-value diamonds thisyear as the smaller categories performed less positively. Revenue g...Read More
(IDEX Online) - ALROSA, the world's leading diamond miner in volume terms, has revised downwards its guidance for 2018 sales to 37 million-38 million carats due to weaker demand for small-size rough diamonds in the second half of this year. The key highlights for the first nine months of this year are: Revenue increased by 11% on the back of higher price index and average diam...Read More
RAPAPORT... The future of US manufacturing is the focus of RapaportMagazine's November cover feature, with interviewees from across theindustry lending their views on the matter. US companies are increasingly sending work to overseasmanufacturers for cost reasons. Reversing that trend requires a multi-prongedapproach, jewelers say. "Bringing manufacturing back to the United States ispossible...Read More