PL=F - Platinum Futures,Oct-2018

NY Mercantile - NY Mercantile Delayed Price. Currency in USD
786.00
-15.70 (-1.96%)
As of 5:15AM EDT. Market open.
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Pre. SettlementN/A
Settlement Date2018-10-29
Open802.00
Bid786.10
Last Price801.70
Day's Range785.10 - 802.90
Volume8,279
Ask786.40
  • Reuters2 days ago

    Electric car bets boosting nickel demand, Nornickel says

    Expectations of a boom in demand for electric vehicles are leading investors and battery makers to stockpile nickel and helping to fuel a spike in global prices of the metal, Russian mining company Norilsk Nickel said on Monday. Nornickel, the world's second-largest nickel producer, said demand for the metal from the battery sector leapt 38 percent in the first half of this year versus the same period last year. Along with demand from the stainless steel sector, this helped boost prices to $15,750 per tonne in June, their highest in over four years, the company said, with the battery sector accounting for 5 percent of total global nickel demand.

  • Reuters2 days ago

    Electric car bets boosting nickel demand, Nornickel says

    Expectations of a boom in demand for electric vehicles are leading investors and battery makers to stockpile nickel and helping to fuel a spike in global prices of the metal, Russian mining company Norilsk Nickel said on Monday. Nornickel, the world's second-largest nickel producer, said demand for the metal from the battery sector leapt 38 percent in the first half of this year versus the same period last year. Along with demand from the stainless steel sector, this helped boost prices to $15,750 per tonne in June, their highest in over four years, the company said, with the battery sector accounting for 5 percent of total global nickel demand.

  • Reuters2 days ago

    Russia's Nornickel reports core earnings up despite sanctions

    Russia's Norilsk Nickel (Nornickel) posted a 77 percent leap in first-half core earnings, with strong global prices offsetting the impact of U.S. sanctions on the company's co-owner. The results mark the first test of Nornickel's financial health since the United States imposed sanctions in April on aluminium giant Rusal, which holds a 27.8 percent stake in the company. At $3.1 billion, Nornickel's first-half earnings before interest, tax, depreciation and amortisation (EBITDA) beat expectations.

  • Metal Prices Feel Pressure of Trade-War Tensions, Rising Dollar
    Investing.com12 days ago

    Metal Prices Feel Pressure of Trade-War Tensions, Rising Dollar

    Investing.com - Metal prices traded mostly lower, pressured by a rising dollar and escalating U.S.-China trade tensions as the White House sought tougher sanctions on Beijing.

  • Gold Falls as Dollar Strengthens
    Investing.com13 days ago

    Gold Falls as Dollar Strengthens

    Gold prices were down on Thursday as the dollar strengthened amid trade worries. Comex gold futures for August delivery fell 0.38 to $1,222.90 a troy ounce as of 10:56 AM ET (14:56 GMT). A stronger dollar and rising interest rates have weighed on gold in recent months.

  • S.African platinum producer Implats to slash 13,400 jobs as costs bite
    Reuters13 days ago

    S.African platinum producer Implats to slash 13,400 jobs as costs bite

    Miner Impala Platinum will slash about a third of its workforce over two years in one of the biggest rounds of job cuts by one mining company in living memory in South Africa as the platinum industry faces a day of reckoning. The number of platinum miners employed in South Africa, the world's largest producer of the precious metal, has fallen from a peak of almost 200,000 in 2008 to 175,000 in the face of depressed prices and soaring costs, fuelling labour and social unrest. Job cuts are politically sensitive in the country and Mines Minister Gwede Mantashe, a gruff former trade unionist, called Implats' announcement on Thursday "a clear example of a company that is careless...Their reckless actions add injury to insult".

  • Metal Prices Backtrack on Fears Over Escalating U.S.-China Trade War
    Investing.com14 days ago

    Metal Prices Backtrack on Fears Over Escalating U.S.-China Trade War

    Investing.com - Metal prices were under pressure Wednesday as investors fretted about a further escalation in U.S.-China trade tensions as the White House considered imposing tougher trade penalties on China.

  • How to Execute a 401(k) to Gold IRA Rollover
    SmartAsset15 days ago

    How to Execute a 401(k) to Gold IRA Rollover

    Rolling over a 401(k) plan into a traditional or Roth IRA is a fairly common practice. You’ll often do this when you’ve left your former employer and want to keep your retirement savings all in one place. But you may … Continue reading → The post How to Execute a 401(k) to Gold IRA Rollover appeared first on SmartAsset Blog.

  • Gold Flat as Investors Wait for Fed Meeting This Week
    Investing.com16 days ago

    Gold Flat as Investors Wait for Fed Meeting This Week

    Gold prices were flat on Monday as investors wait for a flurry of central bank policy decisions this week. Comex gold futures for August delivery rose 0.02% to $1,223.20 a troy ounce as of 11:07 AM ET (15:07 GMT). Investors do not expect the Fed to increase interest rates this week, but there is an 87.8% chance the central bank will hike rates in September.

  • Anglo American confirms $5 billion Peru copper project
    Reuters20 days ago

    Anglo American confirms $5 billion Peru copper project

    Anglo American is going ahead with the $5 billion (£3.9 billion) development of its Quellaveco project in Peru, one of the world's largest untapped copper resources with the potential to transform the company's business outlook. The company also announced its first-half earnings had risen 11 percent year-on-year, driven by stronger commodity prices and greater efficiency. After being one of the miners hardest hit by the commodity crash of 2015-16, Anglo American has made one of the strongest recoveries, although all the major miners have pared gains as concerns of a possible trade war hit metals markets.

  • Anglo American gives green light to £4bn Peruvian copper mine
    The Telegraph20 days ago

    Anglo American gives green light to £4bn Peruvian copper mine

    Anglo American gives green light to £4bn Peruvian copper mine

  • Anglo American gives green light to £4bn Peruvian copper mine
    The Telegraph20 days ago

    Anglo American gives green light to £4bn Peruvian copper mine

    Anglo American will press ahead with a giant new copper mine in Peru, marking the end of a long period of retrenchment that saw it focus on paying off debt and shoring up its balance sheet.  The FTSE 100 miner will pay 60pc of the up to $5.3bn (£4bn) cost of building Quellaveco, with its partner Mitsubishi picking up the rest of the bill. Quellaveco, in southern Peru, has an estimated 30-year life span and will provide much-needed copper for use in wiring and electric cars. Mark Cutifani, chief executive, admitted Anglo had been “baking this cake for a while” as it sought partners to shoulder the cost of the mine, but insisted it was the “best prepared project I’ve been involved in in my career”. Mining companies have been wary of giving the green light to major projects after spending heavily at the height of a boom earlier this decade and then writing off the value of mines. Anglo itself came unstuck with Minas Rio, an iron ore project in Brazil, which overran its budget and suffered delays. Earlier this year a leaky pipeline forced Anglo to suspend production at Minas Rio; it confirmed today that it was on track to restart by the end of 2018. Markets Hub - Anglo American Anglo’s revenue rose 13pc to $13.7bn in the six months to June 30, while pre-tax profits were broadly steady at $2.4bn. Since a sharp downturn in commodity prices in 2015 rocked the global mining industry Anglo has worked hard to pay off its debt, allowing it to restart dividends last year. Net debt fell to $4bn in the six-month period, down 11pc from the end of 2017. Chief financial officer Stephen Pearce indicated he wanted to shave another $1bn off the pile. The cost of building Quellaveco will come from Anglo’s free cashflow, which is the money left over after covering its costs. The mine should begin producing in 2022. Anglo, which also mines diamonds, platinum and coal across the world, with a heavy presence in South Africa, insists it can remain profitable even if commodity prices fall back again. Metal prices have slipped this year as trade tensions between the US and China have risen. Mark Cutifani, Anglo American chief since 2013 Mr Cutifani said: “We’re always concerned by things that may constrain trade. We think [a trade war] is negative, unhelpful. But our job is to make our business as impervious as we can to those type of external shocks and that’s what we’re doing.” At the height of the downturn Mr Cutifani unveiled a sweeping plan to sell off mines and focus the company on copper, platinum and diamonds - the latter through its De Beers business. But a recovery in prices of its unloved commodities - specifically coal and iron ore - forced a retreat on that scheme. Mr Cutifani said today: “We’re not particularly bothered by what commodities we’re in, it’s all about quality of the asset. But copper looks strong… We think the world is going to be short of copper.” “Anglo American is a very different business to five years ago,” he added. Analysts hailed a “solid” set of numbers from Anglo, which more or less met City expectations. The miner’s shares were down 1.3pc at £16.78 in morning trade.

  • The exploitative prison-phone industry could be soon dominated by just two companies
    Quartz21 days ago

    The exploitative prison-phone industry could be soon dominated by just two companies

    The New York city council has passed a bill that would let jailed detainees place domestic phone calls for free. It’s a small, but significant victory for inmates and their families, who are hit hard with the exorbitant costs tied to a loved one’s incarceration. Securus Technologies, which runs the phone service at Rikers Island,…

  • I'm a Professional Sugar Baby. Here's What It's Like to Get Paid to Hang Out With Rich Guys
    Money23 days ago

    I'm a Professional Sugar Baby. Here's What It's Like to Get Paid to Hang Out With Rich Guys

    'I think of it as more of a gift from someone you're dating.'

  • Reuters23 days ago

    Amplats reports jump in first half earnings, buys Glencore's stake in Mototolo platinum mine

    Anglo American Platinum (AMSJ.J) posted a 350 percent rise in interim profits on Monday and kept the dividend tap flowing as it reaps the benefits of a pivot to mechanised mining that has lifted productivity and cut costs. The world's largest platinum producer also announced that it had acquired Glencore's (GLEN.L) 39 percent stake in Mototolo, a mechanised platinum mine on the eastern limb of South Africa's platinum belt. "The acquisition of Glencore’s stake in the Mototolo JV increases Amplats' interest in a mechanised, low-cost, high quality resource," Chief Executive Chris Griffith said in a statement.

  • Metal Prices Up as Dollar Dashes Lower
    Investing.com25 days ago

    Metal Prices Up as Dollar Dashes Lower

    Investing.com – Metal prices were higher Friday as the dollar moved sharply lower after President Donald Trump said higher interest rates and the strength of the greenback were hampering economic growth.

  • Reuters27 days ago

    Anglo American reports 6 percent rise in second quarter output

    Major diversified miner Anglo American (AAL.L) on Thursday reported a 6 percent year-on-year increase in output in the second quarter, driven by copper and coking coal, and revised upwards its platinum guidance. The figures excluded Minas-Rio in Brazil, where a leak has forced the closure of the iron ore project until late this year. Copper production rose 12 percent, driven by higher grades, while coking coal increased 33 percent.

  • Commodities Are Stable in the Early Hours on July 17
    Market Realist29 days ago

    Commodities Are Stable in the Early Hours on July 17

    After declining for two consecutive trading weeks, crude oil started this week on a weaker note by declining to three-week low price levels on Monday. Carrying forward the weakness, crude oil opened lower on July 17. Crude oil was trading with mixed sentiment in the early hours.

  • Commodities Are Mixed in the Early Hours on July 16
    Market Realistlast month

    Commodities Are Mixed in the Early Hours on July 16

    Crude oil lost strength last week and declined for the second consecutive trading week. Carrying forward the weakness, crude oil opened lower on July 16. In the early hours on Monday, crude oil was trading with weakness at three-week low price levels.

  • Gold Prices Edge Higher Amid Trade Concerns, Mixed Economic Data
    Investing.comlast month

    Gold Prices Edge Higher Amid Trade Concerns, Mixed Economic Data

    Investing.com - Gold prices edged higher nearing midday trade on Thursday, snapping a two-day losing streak, amid continuing concerns over trade and mixed economic data.

  • Reuterslast month

    Rio Tinto's minerals sands operation in South Africa shut by protests

    A mineral sands operation on the South African coast run by Rio Tinto (RIO.AX) (RIO.L) has been closed since Friday due to violent community protests which saw a security guard killed earlier this week, the company and a union said on Wednesday. Community unrest is a common feature of South Africa's social landscape, which is marred by high jobless rates and glaring income disparities, underscoring the social risks for investors in the country's mining sector. The operation, Richards Bay Minerals, is on South Africa's Indian Ocean coast.

  • Commodities Are Strong Early on July 9
    Market Realistlast month

    Commodities Are Strong Early on July 9

    Crude oil pulled back last week and broke the two-week gaining streak. Crude oil regained strength on Friday but didn’t close the week higher. On Monday, crude oil opened higher and was trading with mixed sentiment in the early hours.

  • Analyzing Mining Companies’ Correlation with Gold
    Market Realistlast month

    Analyzing Mining Companies’ Correlation with Gold

    Precious metal prices’ revival in the last week has led to miners rebounding, with most mining companies performing positively. Gold is the most influential of the four precious metals, while silver, platinum, and palladium tend to track gold. The miners we’ve selected for our analysis are Alamos Gold (AGI), First Majestic Silver (AG), B2Gold (BTG), and Royal Gold (RGLD). Royal Gold has the highest correlation with gold YTD (year-to-date), while B2Gold has the lowest. 

  • The US Dollar’s Effect on Gold Prices
    Market Realistlast month

    The US Dollar’s Effect on Gold Prices

    As the Fed’s June 12–13 meeting minutes were released yesterday, the US dollar softened, giving buoyancy to precious metals, which are dollar-denominated assets. With a cheaper US dollar, the assets are more affordable for foreign buyers and their demand surges.

  • Commodities Are Weak in the Early Hours on July 6
    Market Realistlast month

    Commodities Are Weak in the Early Hours on July 6

    After gaining for two consecutive trading weeks, crude oil started this week on a stronger note. However, crude oil lost strength as the week progressed. On Friday, crude oil started on a weaker note and was trading at one-week low price levels in the early hours.