(Kitco News) - Gold managed to hold on to most of its previous gains, with markets largely ignoring the European Central Bank’s (ECB) meeting minutes and instead focusing on Italy’s decision to resist EU’s budget pressure.The December Comex gold futures were last trading at $1,228.30 an ounce, up 0.02% on the day, keeping firmly above the $1,220 level.With the U.S. financial mark...Read More
(Kitco News) - Gold managed to hold on to most of its previous gains, with markets largely ignoring the European Central Bank’s (ECB) meeting minutes and instead focusing on Italy’s decision to resist EU’s budget pressure.The December Comex gold futures were last trading at $1,228.30 an ounce, up 0.02% on the day, keeping firmly above the $1,220 level.With the U.S. financial mark...Read More
Chilean miner SQM said on Thursday that delays in a project to boost output of lithium from salt flat Salar de Atacama slashed sales volumes of the ultralight battery metal by 27 percent in the third quarter.SQM , the world's No. 2 producer of lithium, said the previously announced delays were partly offset by high prices and 25 percent growth in demand in 2018 on sales to producers of electric ve...Read More
Xinfa Group, one of China's top aluminium smelters, will not have to cut metal production in its home city of Liaocheng this winter and will only have to reduce alumina output by 10 percent for two months, according to city government documents.The measures are much more lenient than during the 2017/18 winter, when China imposed a 30 percent output curb on aluminium and alumina production in 28 no...Read More
PALM BEACH, Florida (Reuters) - U.S. President Donald Trump hinted on Thursday he may visit Afghanistan, scene of one of America’s longest wars but a country he has yet to visit almost two years into his presidency.Delivering a Thanksgiving Day holiday message by teleconference to troops in Afghanistan, Trump told a U.S. Air Force general he would see him back in the United States, before ad...Read More
TURAIF, Saudi Arabia (Reuters) - Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that he sees weak oil demand in January and said the kingdom would respond accordingly to cool the global market’s anxiety.The world’s top oil exporter’s crude output in November is above October levels, he said, adding that it was in no one’s interest to create a supply glut.&ld...Read More
ROME (Reuters) - Economy Minister Giovanni Tria said on Thursday there was no need for “extraordinary” measures to defend the savings of Italians and said bank deposits had risen in both September and October.Speaking in parliament the day after the European Commission took the first step towards disciplining Italy over its big-spending 2019 budget, Tria also said that he was seeking d...Read More
Can gold continue to rally? Risk Warning for Financial Promotions Hantec Markets' various market reports and commentary are issued by Hantec Markets Limited, who is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, No. 502635. The reports are prepared and distributed for information purposes only. Trading in Foreign Exchange (FX), Bullion and Contrac...Read More
ROME (Reuters) - The plan to spin off the fixed-line network of former telecoms monopolist Telecom Italia would put at risk 20,000 jobs, a trade union source said on Thursday.Italy’s government is studying a spin-off of network assets from Telecom Italia (TIM). Il Messaggero daily said on Thursday 30,000 TIM staff would be transferred to the new fixed-line company together with assets - both...Read More
Indonesia's environment ministry aims to resolve within two weeks environmental issues that have been holding up the state's plans to acquire a majority stake in Freeport McMoRan Inc's Grasberg copper mine.That deal, where Indonesia and state-owned miner PT Inalum will control a 51.23 percent stake in PT Freeport Indonesia, is expected to end years of wrangling over ownership rights to Grasberg, t...Read More
BIRMINGHAM, England (Reuters) - A race by aerospace giants Rolls-Royce (RR.L) and Airbus (AIR.PA) to stockpile parts before Brexit is pushing some small suppliers to breaking point.With just over four months until it leaves, and political bickering continuing, Britain is yet to sign off on its divorce terms with the European Union, forcing companies to prepare for a disorderly exit from the world&...Read More
ALMATY, Nov 22 (Reuters) - Canada's Centerra Gold has promised Kygyzstan's government that it will produce at least 15.5 tonnes of gold at the giant Kumtor mine this year, the Kyrgyz prime minister's press service said on Thursday.Last year the firm produced 17.5 tonnes, it said. (Reporting by Mariya Gordeyeva; writing by Tom Balmforth; editing by Jason Neely) Disclaimer: The views expressed in t...Read More
ANKARA (Reuters) - The European Union said Turkey needs to “take decisive action to reverse the current trend in the rule of law and fundamental rights,” according to a joint statement following meetings between the two sides on Thursday.Earlier on Thursday, top EU officials rebuked Turkey over its arrests of journalists and academics and the long pre-trial detention of a Kurdish polit...Read More
Copper supply has surprised this year, but not in the way everyone expected.It was supposed to be a year of mine disruptions, with the market anticipating that multiple labour contract expiries would result in at least one strike, and possibly more.In the event there was none.By copper's standards it has been a remarkably smooth year for mine production, leaving analysts struggling to fill the cus...Read More
Copper supply has surprised this year, but not in the way everyone expected.It was supposed to be a year of mine disruptions, with the market anticipating that multiple labour contract expiries would result in at least one strike, and possibly more.In the event there was none.By copper's standards it has been a remarkably smooth year for mine production, leaving analysts struggling to fill the cus...Read More
LONDON (Reuters) - Britain and the European Union agreed a draft text setting out a close post-Brexit relationship on Thursday, though wrangles over fish and the future of Gibraltar must still be settled before leaders meet on Sunday.Below are initial reactions from lawmakers within Prime Minister Theresa May’s Conservative Party who are unhappy with the deal:Conservative lawmaker Andrea Jen...Read More
LONDON (Reuters) - The euro briefly rallied to the day’s highs on Thursday after Britain and the European Union agreed in principle to a text setting out their future relationship before a summit on Sunday.European Council President Donald Tusk said the text had been discussed by British Prime Minister Theresa May and European Commission President Jean-Claude Juncker and plans to have a trad...Read More
Physical gold demand in India was robust this week as consumers stepped up purchases during the traditional wedding season after domestic rates slipped to a near six-week trough, while gains in global prices weighed on bullion's appeal in other Asian hubs.Demand in India, the second biggest gold consumer after China, usually picks up towards the end of the year going into the wedding and festival...Read More
BEIJING/SHANGHAI (Reuters) - Tesla Inc (TSLA.O) is cutting the price of its Model X and Model S cars in China, the U.S. firm said on Thursday, in a shift in strategy that will see it take more of a hit from tariffs linked to a biting trade war between China and the United States.The electric carmaker, led by billionaire CEO Elon Musk, said it will cut prices of the two models by 12-26 percent to m...Read More
MOSCOW (Reuters) - Russia hopes that all 20 members of the group of industrialized nations will support a multilateral approach to international trade regulation when they meet in Argentina next week, Russian G20 negotiator Svetlana Lukash said on Thursday.Lukash said G20 leaders, who will meet in Buenos Aires on Nov. 30, will discuss issues of global trade, climate change and international cooper...Read More