Investing.com - Gold prices slipped lower on Friday, pulling away from a seven-week high as the U.S. dollar regained some strength, although ongoing U.S. political uncertainties continued to support demand for the safe-haven precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.31% at $1,196.15, just off Thursday's seven-week high...Read More
(Updates prices, adds comment)* U.S. stocks slide, dollar falls after Trump short on stimulus* Oil consolidates after bounce; gold hits 7-week high* U.S.-listed Fiat shares fall after EPA newsBy Gertrude Chavez-DreyfussNEW YORK, Jan 12 (Reuters) - Wall Street stocks fell and the U.S. dollar dropped to a five-week low on Thursday after President-elect Donald Trump, in his eagerly-awaited news brief...Read More
(Updates prices, adds Fiat news)* Dollar slips, bonds rally after Trump short on stimulus* Healthcare stocks in Europe drop 2 percent after Trump* Oil consolidates after bounce; gold hits 7 week highBy Gertrude Chavez-DreyfussNEW YORK, Jan 12 (Reuters) - Wall Street stocks fell and the U.S. dollar dropped to a five-week low on Thursday after President-elect Donald Trump, in his eagerly-awaited new...Read More
The Democratic Republic of Congo won't stand in the way of Glencore's (LON:GLEN) plans to increase its stake in the Mutanda copper mine, an asset it jointly owns with billionaire mining tycoon Dan Gertler.Mines Minister Martin Kabwelulu told Bloomberg he "didn't believe" the government needed to authorize changes in ownership in that project, marking a radical shift from previous attempts to block...Read More
Canada's Goldcorp (TSX:G)(NYSE:GG), the world's third largest gold producer by market value, is selling mines in Mexico and Guatemala to two different buyers as part of its ongoing efforts to focus on highly profitable, core assets.The Vancouver-based company said it will receive an estimated $438 million worth of cash, stock and other assets by selling its Los Filos gold-and-silver mine in Mexic...Read More
Nickel prices plummeted almost 5%, hitting a fourth-month low Thursday after Indonesia decided to finally relax its ban on partially processed minerals exports, including nickel ore, bauxite and other minerals concentrates under certain conditions.The export ban, in place since 2014, aimed to push miners to build smelters and so process ore locally. The ruling did allow, however, some concentrate...Read More
Southern Copper's (NYSE:SCCO) $1.2 billion expansion of its Toquepala open-pit mine in southern Tacna, Peru, will be ready by the end of the year and in operations early 2018, the company said.The company's president and chief executive ?"scar Gonz??lez Rocha told local media Wednesday (in Spanish) the project, which will allow the firm double the mine's output, is 40% complete.He noted the outp...Read More
Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to report that the Government of Canada, the Government of the Northwest Territories ("GNWT") and the Tlicho Government have jointly announced federal funding for the construction of the Tlicho All-Season Road ("TASR") to the community of Whati (See January 11, 2017 news releas...Read More
(Adds comment, updates prices, changes dateline; previous LONDON)* Dollar slips, bonds rally after Trump short on stimulus* Healthcare stocks in Europe drop 2 percent after Trump* Oil consolidates after bounce, gold hits 7 week highBy Gertrude Chavez-DreyfussNEW YORK, Jan 12 (Reuters) - Wall Street stocks fell nearly 1 percent and the U.S. dollar dropped to a five-week low on Thursday after Presid...Read More
* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVh* Dollar slip, bonds rally after Trump fails to talk stimulus* Healthcare stocks in Europe drop 2 percent after Trump talk* Oil consolidates after bounce, gold hits 7 week highBy Marc JonesLONDON, Jan 12 (Reuters) - The U.S. dollar nursed widespread losses on Thursday after President-elect Donald Trump's long-awaited news briefing provided...Read More
Investing.com - Gold prices rallied to a seven-week high on Thursday, as the U.S. dollar sank after President-elect Donald Trump's highly-anticipated press conference failed to offer details on his plans to boost fiscal spending and cut taxes.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session peak of $1,202.35 a troy ounce, a level not seen since...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ? SHFE zinc stood out from the performance of other nonferrous metals with a 0.8% rise today, while nickel was down close to 2% and lead down 1%. Copper and aluminium both edged down 0.5%.The ferrous complex remained weak with iron ore down over 2% and rebar down 1.6%. Coking coal and hot-rolled coil were down some 1.4% and coke closed 0.7% lower.Copper: SHFE copper was...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ?Copper inventory in Shanghai bonded area stood at 481,000 mt for the week ending Friday January 12, up from 480,200 mt last week. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@smm.cn Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ?China’s imported unwrought copper reached 4.69 million mt in 2017, down 5.2% from levels seen in 2016.The import volume in December stood at 450,000 mt, down 4.3% from a month ago and down 8.2% from December 2016. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, pleas...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,065-7,200/mt today with support at the 20-day moving average while the SHFE 1803 contract is to trade at 54,200-55,300 yuan/mt. In the spot market, the premiums are set to be firmer at flat to 50 yuan/mt today.Zinc: LME zinc is aiming for $3,400/mt against the backdrop of good fundamentals in the international market. We se...Read More
After four-plus years of declines, 2016 was a comeback year for natural resources and the oil and mining industries - with only a couple of exceptions, energy, metal and mineral prices rallied last year.According to a new report by private capital tracker Preqin, the improving conditions of last year did not filter through to all sectors.Overall fundraising for natural resources investment actual...Read More
Egypt will hold this Sunday its first international tender for gold mining concessions, most of which are located in Sinai and the Eastern Desert, the Egyptian Mineral Resources Authority (EMRA) said.In a statement quoted by Ahram Online, the body said the cost of participating in the bidding round, scheduled to end mid-April, is $1,000. An additional $5,000 will be charged for documents contain...Read More
Shares in Yamana Gold (TSE:YRI) (NYSE:AUY) were down more than 2% in both Toronto and New York Wednesday morning after the miner confirmed its El Pe????n mine in Chile has been suspended since Friday due to a strike that is expected to be joined by more unionized workers in the coming days.Operations have been suspended since Friday after underground workers rejected the company's final offer an...Read More
Investing.com - Gold prices rose to a fresh six-week high on Wednesday, as markets looked ahead to President-elect Donald Trump's first press conference since his election victory later in the day.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session peak of $1,191.00 a troy ounce, a level not seen since November 30.It was last at $1,188.35 by 3:20A...Read More