A group of Australian researchers is suggesting that the aspect and condition of tree leaves and soil, as well as the presence of termites, should be considered key indicators of the presence of gold deposits in a certain area.After analyzing hundreds of samples of sediments, soil and acacia leaves from a gold mine near Kalgoorlie, Western Australia, the team led by Ravi Anand, from the Australia...Read More
Investing.com - Gold prices ticked higher in the first trading session of 2017 on Tuesday, but gains were limited as the prospect of rising U.S. interest rates this year kept sentiment bearish.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $2.00, or around 0.2%, to $1,153.75 a troy ounce by 3:50AM ET (08:50GMT).The U.S. dollar rose on Tuesday, crawli...Read More
SHANGHAI, Jan 3 (SMM)? 1/4 ? Nonferrous metals mostly moved lower today although lead was up 1.6%.The ferrous complex saw mixed trading with coking coal leading the gain with 2% rise and coke edging up. Rebar, hot-rolled coil and iron ore all dropped close to 1%.Copper: LME Copper dropped today and is expected to test support at the 10-day moving average. The US ISM manufacturing index in December...Read More
SHANGHAI, Jan 3 (SMM)? 1/4 ?Copper: LME copper prices continued to see corrections as longs took profits. We expect LME copper to trade at $7,170-7,280/mt today and SHFE copper at 54,800-55,400 yuan/mt. Spot copper discounts are to narrow to 150-90 yuan/mt following lower futures prices.Aluminium: Weaker momentum is seen for LME aluminium to trade higher and it is expected to hover in the range of...Read More
SHANGHAI, Jan 2 (SMM)? 1/4 ? Nonferrous metals were mixed on the first trading day of 2018 with nickel outperforming others with a 2% rise. Zinc and tin rose around 1% while lead dropped 0.73% and copper dropped 0.63%.On the other hand, iron ore led the ferrous complex with a 2.6% gain. Rebar, coking coal and hot-rolled coil all rose some 2%, while coke was up over 1%.Copper: Copper saw the techni...Read More
Copper foil price is set to go up further as global deficit of the raw material for lithium-ion battery is estimated to increase to 10% in 2018, according to information provider cableabc.com.Global supply of copper foil for lithium-ion battery is forecast to be 146,000 mt but demand stands at 161,000 mt. The deficit has widened from 90,000 mt of supply and 91,000 mt of demand in 2015.Higher coppe...Read More
The Caixin manufacturing purchasing managers' index (PM) hit 51.5 points in December, setting a new high in four months and beating the expectation at 50.7 points. It was also higher than November’s 50.8 points.A reading above 50 indicates expansion, while a reading below that signals contraction. The article is edited by SMM and is provided for informa...Read More
SHANGHAI, Jan 2 (SMM)? 1/4 ?Copper: LME copper is set to see a correction following 15 consecutive days of increase and bulls taking profits. While it is expected to trade at $7,180-7,320/mt today, the SHFE 1803 copper is expected to trade at 55,200-56,000 yuan/mt. Trading liquidity in the spot market is set to recover and we see discounts at 220-150 yuan/mt today.Aluminium: LME aluminium set a ne...Read More
The EMR Capital private equity firm run by Owen Hegarty has agreed to buy the Golden Grove copper and zinc mine in Western Australia from MMG for $US210 million ($291m), giving Mr Hegarty control of the mine for a second time. Read moreRead More
Investing.com - Gold prices slid on Friday as investors took profits at the end of a year which saw bullion prices rise around 9%, snapping three years of declines.Gold for February delivery settled down 0.53% at $1,152.00 on the Comex division of the New York Mercantile Exchange. Prices were up around 9.8% for the year.Gold prices soared in the first half of 2016 as the Federal Reserve remained c...Read More
Freeport-McMorRan (NYSE:FCX) has divested another portion of its substantial oil and gas assets as the number one publicly-held copper producer continues on a path of debt reduction.The Phoenix-based company announced today that it completed the previously announced sale of its onshore California properties to Sentinel Peak Resources California LLC for $592 million in cash, before closing adjust...Read More
The US stock markets spectacularly defied the odds in 2016, soaring after both the UK's Brexit vote and US presidential election. Both actual outcomes were universally feared as very bearish for stocks before the events. These contrary stock rallies have left traders feeling euphoric, convinced stock markets are impregnable. But with stock valuations hitting bubble levels in an exceedingly-old bul...Read More
Dec 30 (Reuters) - Canadian stock futures edged higher on Friday, the last trading day of the year, helped by gains in metals prices.March futures on the S&P TSX index SXFc1 were up 0.03 percent at 7:15 a.m. ET.No economic data is scheduled for release. ECONCACanada's main stock index rose to its highest level since April 2015 on Thursday, helped by gold mining stocks. Jones Industrial Average e-m...Read More
Investing.com - Gold prices rose to a three-week high amid low-volume holiday trading on Friday, as the U.S. dollar pulled back, boosting the appeal of the yellow metal.Gold for February delivery on the Comex division of the New York Mercantile Exchange rose to a session peak of $1,164.25 a troy ounce, a level not seen since December 9.It was last at $1,160.50 by 3:41AM ET (9:41GMT), up $2.40, or...Read More
* Pan-European STOXX 600 ends 0.4 pct lower* Precious metals miners up as gold rises* Banking stocks feature among top fallers (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets)By Atul Prakash and Kit ReesLONDON, Dec 29 (Reuters) - Britain's top share index posted its highest-ever closing level on T...Read More
One of Russia's largest mining companies has dropped a stash of roubles on copper concentrate that dates back to the Cold War.Reuters reported on Wednesday that Norilsk Nickel (Nornickel) - one of the world's largest producers of nickel and palladium - purchased 67.5 billion (US$1.1 billion) roubles worth of copper concentrate from Russian state holding company Rostec. The amount of concentrate...Read More
Mickey Fulp the Mercenary Geologist sits down with Maurice Jackson of Proven and Probable to discuss his views on the FED, Interest Rates, the economy, oil, copper, uranium, demonetization, and the merits of precious metals. Mickey shares what indicators he uses to guide the health of the economy and what those indicators are conveying. We shall delve into the value proposition of uranium and why...Read More