Ivory Coast produced a record high of about 48 tonnes of gold in 2022, up 14% from the previous year, a document from the Ministry of Mines, Petrol and Energy showed. Ivory Coast, the world's top cocoa producer, is seeking to develop its long-neglected mining sector to diversify its revenue.
* U.S. consumer prices increased solidly in February. * Credit Suisse shares slump. By Ashitha Shivaprasad. Gold reversed course and rose on Wednesday, as a tumble in Credit Suisse shares rekindled fears about the banking sector and hammered appetite for riskier assets. Spot gold was up 0.3% at $1,906.79 per ounce as of 1118 GMT.
Renewed unease gripped world markets on Wednesday as news that Credit Suisse's largest investor said it could not provide the Swiss bank with more financial assistance sent its shares and broader global equities sliding. Treasury yields in the U.S. and euro zone tumbled on another bout of turmoil in banking stocks and shifting interest rate expectations.
Copper prices edged up on Wednesday after cooling U.S. inflation data bolstered hopes of lower interest rate hikes by its central bank next week, while signs of demand recovery from top consumer China also supported investors' buying appetite.
Copper prices faltered on Tuesday, unsettled by worries about the knock-on impact of a U.S. banking crisis, a stronger dollar and a slow recovery of demand in top metals consumer China. Three-month copper on the London Metal Exchange shed 1.2% to $8,823.50 a tonne by 1700 GMT after rising by 0.7% on Monday. U.S. Comex copper futures dropped 1.3% to $4.00 per lb.
* Dollar index up 0.4% * U.S. CPI due at 1230 GMT. By Ashitha Shivaprasad. Gold prices eased on Tuesday, pausing their sharp rally driven by the U.S. banking crisis, as the dollar rebounded, while traders positioned for inflation data that could also influence the Federal Reserve's interest rate strategy. Spot gold was down 0.5% at $1,903.20 per ounce, as of 0924 GMT.
* FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS. * FITCH- CHINA'S RE-OPENING WILL SUPPORT GROWING SHORT-TERM DEMAND AS CHINA ACCOUNTS FOR 55% OF GLOBAL REFINED COPPER CONSUMPTION. * FITCH - REVISED GLOBAL METALS, MINING PRICE ASSUMPTIONS, INCREASING SHORT- AND MEDIUM-TERM PRICES FOR COPPER, IRON ORE, COKING COAL, GOLD AND NICKEL.
* Gold hovers near 5-1/2-week peak. * U.S. dollar index up 0.3% * U.S. CPI data due at 1230 GMT. * Gold short-term outlook strong - ANZ. By Kavya Guduru. Gold prices on Tuesday hovered near their highest levels in more than five weeks, and held above the key $1,900 level, as expectations grew that the Federal Reserve could pause its rate hikes after the collapse of two big U.S. regional banks.
Global shares stemmed a five-session rout on Tuesday as bank shares rebounded and closely-watched U.S. inflation data was in line with expectations, bolstering bets of a smaller interest rate hike by the Federal Reserve at its meeting next week. Bond yields in the U.S. and the euro zone rose after plunging the previous day, curbing a crisis-driven rally in gold.
Gold prices held above the key $1,900 per ounce level on Tuesday as expectations of less-aggressive Federal Reserve rate hikes after the collapse of two big U.S. regional banks lifted non-yielding bullion's appeal. FUNDAMENTALS. * Spot gold was flat at $1,913.54 per ounce, as of 0053 GMT.
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