TOKYO, Oct 16 (Reuters) - No country would benefit from anyescalation in global trade tensions that were fueled by theUnited States' push this year to impose tariffs, the head ofAustrian steelmaker Voestalpine AG said on Tuesday."If we build up trade barriers, there will be only losers,"Chief Executive Wolfgang Eder told Reuters on the sidelines ofthe World Steel Association's general as...Read More
The bull market could be nearing its end, and a new panic is approaching.The U.S. Mint just issued a troubling report.It appears that sales of physical gold and silver are in full collapse.At the Mint, U.S. Gold Eagle coins sold through August have dropped 18% compared to last year.And sales of U.S. Silver Eagle coins fell a whopping 32.6% in August 2018 compared to August 2017.What exactly is go...Read More
Diversified global engineering, project delivery and operations management group, DRA Global ("DRA"), partnered JSE Listed Pan African Resources [JSE: PAN] in completing its R1.74 billion Elikhulu tailings retreatment project in Evander, Mpumalanga, within budget and ahead of schedule.Over the next 14 years, the R1.74-billion Elikhulu project will process an estimated one-million tons of monthly w...Read More
* Contraction in revenues putting stress on government * Moody's to release review after next week's budget (Adds treasury official's comments on ratings, analyst)By Wendell RoelfCAPE TOWN, Oct 16 (Reuters) - Falling revenues and arecession mean South Africa will struggle to finance the publicservices that form the largest part of its budget, the NationalTreasury said on Tuesday.Africa's most indu...Read More
* Options, NDFs show investors bet on yuan weakening to7/dollar * PBOC insists there is no deliberate currency weakening * Easing monetary policy, rising dollar set up yuan fordeclinesBy Andrew Galbraith and Noah SinSHANGHAI/HONGKONG, Oct 16 (Reuters) - Investors are bettingthat the powerful forces of easier monetary policy at home andunrelenting gains in the U.S. dollar will push China's yuandown...Read More
World's No.2 miner Rio Tinto (ASX, LON, NYSE:RIO) said Tuesday it will likely have to delay first production from the $5.3 billion underground expansion of its Oyu Tolgoi copper-gold-silver mine in Mongolia, originally scheduled for early 2020.Delivering third-quarter results, the miner said that while capital costs for the project remained in line with the overall budget, shaft-sinking challenge...Read More
World's No.2 miner Rio Tinto (ASX, LON, NYSE:RIO) said Tuesday it will likely have to delay first production from the $5.3 billion underground expansion of its Oyu Tolgoi copper-gold-silver mine in Mongolia, originally scheduled for early 2020.Delivering third-quarter results, the miner said that while capital costs for the project remained in line with the overall budget, shaft-sinking challenge...Read More
World's No.2 miner Rio Tinto (ASX, LON, NYSE:RIO) said Tuesday it will likely have to delay first production from the $5.3 billion underground expansion of its Oyu Tolgoi copper-gold-silver mine in Mongolia, originally scheduled for early 2020.Delivering third-quarter results, the miner said that while capital costs for the project remained in line with the overall budget, shaft-sinking challenge...Read More
LONDON, Oct 16 (Reuters) - Hardline eurosceptics in BritishPrime Minister Theresa May's party are threatening a vote of noconfidence in her leadership within the next couple of weeks,unless she drops her "Chequers" plans for Brexit, the DailyTelegraph reported on Tuesday."If the cabinet does not chuck Chequers I think we will havea vote of no confidence ... by this week, next week....Read More
* Shanghai stocks close weaker, blue-chip CSI300 index down * Gains in Shanghai stocks led by Guirenniao Co Ltd andlosses byShanghai Hongda Mining Co Ltd * China's A-shares are at a 22.82 percent premium overH-shares SHANGHAI, Oct 16 (Reuters) - China stocks reversed earlygains to end lower on Tuesday, after data showed factory-gateinflation had cooled for a third straight month in Septemberamid l...Read More
Retail sales in the U.S. barely rose in September, with a bounce in motor vehicle purchases offset by the largest fall in expenditure on restaurants and bars in almost two years.Published 22 Hours AgoUpdated9 Hours AgoReuters Gold prices held steady on Tuesday near last session's 2-1/2-month high as risk-averse investors sought refuge in the metal amid rising political tensions and economic uncert...Read More
"The S&P/TSX Venture Composite Index was up slightly, rising by 4.76, or 0.69 percent, to 696.22. https://t.co/bdz9JzgHa0 #Investing #Resource #Gold"Read full newsRead More
Did you know that when bears go into hibernation they can lose up to 30% of their body weight.Following data on Friday that gold bears have increased their short position, despite a sharply rising gold price, it seems they are doubling down and perhaps hoping all will be fine after a period of hibernation... while risking similar losses, notes Ross Norman, CEO, Sharps Pixley Ltd."The latest CFTC...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks fell on Monday following last week's sharp losses. The Dow Jones Industrial Average fell 4.2% last week, the S&P declined 4.1% and the Nasdaq tumbled 3.7%. It was the worst weekly performances for the indexes since March.Sears Holdings Corp. (SHLD) filed for Chapter 11 bankruptcy protection. Sears' controlling shareholder,...Read More
The prices of base metals on the London Metal Exchange were mostly lower day-on-day at the close of trading on Monday October 15, with a softer US dollar having little effect on prices but trade tensions and weak stock markets keeping investors cautious.The three-month lead price rose by 1.6% over the afternoon to reach an intraday high of $2,116 per tonne, its highest level since September 4.Whil...Read More
The biggest question facing miners when planning for trade cycles is how flows will be redirected or constrained as a result of discussions between China and the United States, according to the president of marketing and supply at BHP. Arnoud Balhuizen said that BHP's commodities have been flowing as they always have, and the impact on prices has been relatively muted on a historical basis. How th...Read More
Comex copper prices rose to a multi-week high in morning trading on Monday October 15 amid a weaker dollar and optimism from LME Week in London last week. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 3.00 cents to $2.83 per lb - the highest since October 4. While the rest of the complex...Read More
The European market for standard-grade ferro-silicon was unchanged for the third consecutive week on Friday October 12, with suppliers in talks about selling alloy within the present spot price range, while Chinese prices were beginning to slide on slow demand. European market solidifies price position Outlook slow, but stable for the near term Chinese market starts to slip on lackluster demand US...Read More
The need for investment in new lithium projects creates a need for risk management tools, but the market's immaturity creates challenges, according to panelists at an LME focus session during this year's annual LME Week. Increasing demand for lithium compounds arising out of the electric vehicle and battery boom has created an appetite to bring new projects on stream, but there are risks associate...Read More
The fate of the Tuticorin copper smelter in the southern Indian state of Tamil Nadu will be decided at the end of November because more time is required to investigate the allegedly polluting project, local media reported on Monday October 15.The Times of India reported that a panel formed by the National Green Tribunal, India's environmental safeguarding body, wanted to listen to more views from...Read More