Copper prices were on track for a second quarterly gain on Friday, supported by improving demand from top consumer China after the country lifted its stringent COVID-19 restrictions. Three-month copper on the London Metal Exchange was down 1.1% at $8,898.50 a tonne by 0724 GMT but has gained 6.2% over the first quarter.
Copper prices were on track for their second straight quarterly gain on Friday, lifted by an improvement in demand from top consumer China after the country removed its stringent COVID-19 restrictions. Three-month copper on the London Metal Exchange was up 0.2% at $9,015 a tonne, as of 0221 GMT, and has gained 7.7% so far this quarter.
Barrick Gold Corp (GOLD): * BARRICK STEERS PORGERA GOLD MINE BACK TOWARDS WORLD-CLASS PRODUCTION. * BARRICK GOLD (GOLD)- PAPUA NEW GUINEA, BARRICK NIUGINI LIMITED, NEW PORGERA SIGNED AGREEMENT TO PROGRESS WITH RESUMPTION OF OPERATIONS AT PORGERA GOLD MINE Source text for Eikon: Further company coverage:
Brazil's Revenue Service on Thursday mandated electronic invoices for gold trade when bullion is declared as a financial asset or foreign exchange instrument, a rule aimed at curbing illegal wildcat mining. The measure, effective July 3, comes as the new government doubles down on efforts to combat the humanitarian crisis of the Yanomami people caused by illegal mining in their territory.
Transitional authorities in Mali will review mining contracts after an official audit of the sector advised that the state was not receiving a fair share of gold-mining revenue, the council of ministers said on Wednesday. Mali is one of Africa's largest producers of gold, which is its top export.
* Weaker dollar lends support to gold; eyes on inflation data. * Gold could fall to around $1,900 in coming months -Commerzbank. By Deep Kaushik Vakil. Gold prices gained nearly 1% on Thursday as a weaker dollar and lower bond yields drove demand for the precious metal, while investors kept their eyes peeled for U.S. inflation data to gauge the Federal Reserve's next move.
* U.S. stocks rise; dollar up 0.3% * Gold to hover around $2,000 until next Fed meet- analyst. By Deep Kaushik Vakil. Gold prices slipped on Wednesday as upbeat equities and a stronger dollar weighed, but declines in safe-haven bullion have been fairly contained so far, signalling lingering worries about the banking sector. Spot gold was trading 0.5% lower at $1,964.41 per ounce by 12:37 p.m. EDT.
* Treasury yields up, U.S. stocks down. * Gold prices could slip to $1,933/oz -analyst. By Deep Kaushik Vakil. Gold prices rose on Tuesday, drawing support from a weaker U.S. dollar even as higher bond yields and easing worries about a full-blown banking crisis limited gains for the safe-haven asset. Following two sessions of declines, spot gold gained 0.7% to $1,970.88 per ounce by 1:40 p.m. EDT.
* Wall street opens higher. * Gold slides for second straight session. By Bharat Gautam. Gold prices fell more than 1% on Monday as worries over a crisis in the banking sector subsided, prompting investors to scale back safe-haven trades in favour of riskier assets like equities and crude oil. Spot gold dropped 1.2% to $1,953.14 per ounce by 10:25 a.m. EDT.
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