|Day's Range||3.105 - 3.147|
Investing.com – Gold prices remained on course to snap a two-week winning streak as safe-haven demand faded amid easing geopolitical concerns, while continued dollar strength added to downside momentum.
Chilean copper commission Cochilco forecast on Friday that Chile would produce 5.76 million tonnes of the red metal in 2018, up 4.3 percent from 2017, while estimating copper prices at $3.06 per pound this year. The projections follow a difficult year for the world's top copper producer in 2017, after workers at BHP's Escondida copper mine, the world's largest, walked off the job for a month and a half, putting a dent in Chile's economy and sending shockwaves through the market. "We receive these projections with optimism...though we must be cautious about the risks that continue to exist in the market," said Pablo Terrazas, Chile's undersecretary of mining.
Chilean copper commission Cochilco forecast on Friday that world top copper producer Chile would produce 5.76 million tonnes of the red metal in 2018, up 4.3 percent from 2017, and slightly above previous ...
Crude oil started this week on a weaker note but regained strength as the week progressed. After the mixed performance on Thursday, crude oil started Friday on a stable note and traded near three-year high price levels in the early hours.
Investing.com - Gold prices continued the downward trend on Friday, adding to small weekly losses in relatively static trade.
Commodities have been a hot topic this week, particularly crude oil and base metals. Traders are saying that threats of a trade war and continued signs of global growth may be combining to create opportunities investors haven’t seen in a number of years.
Commodities rallied furiously Thursday morning, but leveled off by the afternoon -- a lesson for any investor to be wary of any asset class that rises too much, too fast. Brent crude gained 0.41% to $73 per barrel, West Texas Intermediate was roughly flat ending the day at around $68. Earlier in the session, Brent and WTI had both been up more than 1%.
After years of languishing under low market volatility and weak global growth, commodities are on the move higher. One index is at a multi-year peak as prices rise in energy, gold and base metals. Traders in the space see the rally continuing in the face of a trade war threat and as the market gets more comfortable with the global economic growth theme.
WSJ City is the app that delivers concise, smart news on business and finance for mobile. Shares in Shire rose 5.6% after a potential bidding war broke out for the Dublin-headquartered drugmaker. Shire rejected the Japanese company's bid, but said talks were ongoing.
April 18, 2018, belonged to commodity stocks (COMT), some of which saw their highest one-day gains in months. Among the iron ore and diversified companies, Glencore (GLNCY) surged 7.7%, and Anglo American (AAUKY) saw price gains of 6.2%. BHP Billiton (BHP), Rio Tinto (RIO), Vale SA (VALE), and Cleveland-Cliffs (CLF) rose 3.3%, 4.0%, 4.2%, and 4.4%, respectively.
BHP Billiton (BHP) trims iron-ore output guidance for fiscal 2018. Northward movement in the price of this major steel-making product is expected to drive the company's performance.
Based on the early trade, the direction of the copper market the rest of the session is likely to be determined by trader reaction to the Fibonacci level at $3.1955.
The government of new Peruvian President Martin Vizcarra said on Wednesday it would not "impose" mining projects on nearby communities that object to them, but would seek to promote mining investments to take advantage of improved mineral prices. In the past decade, Southern Copper Corp and Newmont Mining Corp have shelved proposed mines in Peru because of opposition from communities worried about the environmental impact - one of the biggest hurdles to building mines in the world's No. 2 copper producer. Peruvian Prime Minister Cesar Villanueva said the government would encourage mining but only approve projects that respect the environment and have support from communities.
TORONTO (Reuters) - Canada's main stock index rose for the fifth straight day on Wednesday to reach a four-week high, as energy and metal mining companies led broad-based gains, boosted by higher commodity prices. * The Toronto Stock Exchange's S&P/TSX composite index closed up 176.67 points, or 1.15 percent, at 15,529.97. * The energy group surged 3.6 percent, as oil prices climbed after sources signaled top exporter Saudi Arabia wanted to see prices closer to $100 a barrel. * Shares of Suncor Energy rose 2.3 percent and oil and gas producer Canadian Natural Resources was up 3.3 percent. * U. ...
Investing.com – Gold prices remained supported as a subdued dollar continued to underpinned upside in the precious metal despite easing geopolitical tensions.
Investing.com - Gold prices moved higher on Wednesday, as the dollar saw little movement and investors looked ahead to references from the Federal Reserve.
Investing.com - Gold prices edged lower on Wednesday weighed down by gains in the dollar and improving risk appetite which dampened safe haven demand for bullion.
* Indonesia exported 8,637,595 tonnes of nickel ore up to March 31, 2018 since its ore export policy was revised in January, 2017, data from the mining ministry showed * Indonesia's bauxite exports reached ...
Gold finished lower on Tuesday, but did claw back most of its early loss on renewed concerns over a U.S.-China trade war.According to the American Petroleum Institute, U.S. crude inventories fell by 1 million barrels last week, to 428 million barrels.
Rising global tensions, including U.S. sanctions against Russia and the continuing conflict in Syria, have sparked a rally in commodities, sending materials from aluminum to oil to fresh multiyear highs....
Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminium output following U.S. sanctions on its Russian partner Rusal earlier this month. Rio, which reported a 5 percent rise in first-quarter iron ore shipments in the March quarter, has declared force majeure on some customer contracts after U.S. sanctions on UC Rusal , the world's second biggest aluminium producer. Rio kept its forecast for aluminium production steady in its first quarter production report.
"We delivered a solid operational performance across most commodities in the first quarter of 2018," Rio Tinto Chief Executive Jean-Sebastien Jacques said in a statement. The Anglo-Australian miner maintained its iron ore production guidance for this year of 330 million to 340 million tonnes. Rio Tinto also held its 2018 copper guidance, but said its aluminium forecast of 3.5 to 3.7 million tonnes would be adjusted after it completed the sale of some smelters.