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Metals News Results

  • PRECIOUS-Gold rebounds after US services slowdown boosts Fed pause bets

    * U.S. services sector barely grew in May, new orders slowed. * Dollar, Treasury yields slip after data. * Markets see 80% chance of Fed skipping rate hike in June. By Deep Kaushik Vakil. June 5 - Gold rebounded on Monday after weaker U.S. services sector growth reinforced bets for the Federal Reserve to stay pat on interest rates next week.

  • METALS-Copper under pressure from demand worries and dollar

    Copper prices came under pressure on Monday from worries about demand, particularly in top consumer China, and a stronger dollar which makes metals priced in the U.S. unit more expensive for holders of other currencies. Benchmark copper prices on the London Metal Exchange were up 0.2% at $8,257 a tonne by 1012 GMT.

  • PRECIOUS-Gold eases as firm dollar counters bets for Fed pause

    * Extended industrial demand slowdown could hurt silver- Heraeus. * Global shares muted, oil gains on Saudi pledge to cut output. * Platinum, palladium eke out gains. By Seher Dareen. Gold slipped on Monday as the dollar firmed after strong U.S. payrolls data last week, offsetting some of the support for zero-yield bullion from bets that the Federal Reserve may pause rate hikes in June.

  • Fortuna Silver reports worker death at Peru mine

    Canadian miner Fortuna Silver Mines Inc (FSM) said a contractor employee died at its Caylloma mine in Peru on Friday. The accident occurred during underground mining operations and no other personnel were injured, the company said on Monday, adding that the operations were briefly suspended before resuming on Sunday.

  • METALS-Most base metals prices fall on firmer dollar

    Most non-ferrous metals declined on Monday, as a stronger dollar made greenback-priced metals more expensive to holders of other currencies. Three-month copper on the London Metal Exchange eased 0.2% to $8,218.50 a tonne by 0706 GMT, aluminium declined 0.6% to $2,251 a tonne, nickel shed 1.8% to $20,835 a tonne and zinc fell 0.9% to $2,286.50 a tonne.

  • Mine collapse kills at least 12 in southern Venezuela

    Flooding collapsed a gold mine in southern Venezuela, killing at least 12 miners, local authorities said on Sunday, adding that the victims' bodies were returned to their families. The Talavera mine, located in El Callao, in Venezuela's Bolivar state, flooded on Wednesday due to heavy rains but rescue workers could not finish recovery efforts before Saturday.

  • PRECIOUS-Gold slips as yields gain after US payrolls rise

    * Gold, silver set to snap 3-week losing streak. * Traders keep bets against June Fed rate hike after jobs data. * Despite strong hiring, unemployment rate rose to 3.7% in May. By Deep Kaushik Vakil.

  • METALS-Copper prices slip as tepid demand, economic woes linger

    London copper prices slipped on Friday, as demand concerns and a gloomy global economic outlook offset optimism from the U.S. debt ceiling deal and a weaker dollar. Three-month copper on the London Metal Exchange was down 0.4% at $8,212.50 a tonne by 0139 GMT, reversing gains from the previous session.

  • PRECIOUS-Gold climbs as rate hike bets ebb after weaker US data

    * Gold hits 1-week high, while yields at 2-week low. * Fed's Harker: 'let's skip June and see how it goes' * Markets see 75% chance of Fed holding rates in June. By Deep Kaushik Vakil. June 1 - Gold hit a more than one-week peak on Thursday, as the dollar tumbled after weaker U.S. economic data on expectations of the Federal Reserve skipping an interest rate hike at its June policy meeting.

  • Mali revises 2023 industrial gold forecast up 6% to 67.7 tonnes

    Mali has revised its 2023 industrial gold forecast to 67.7 tonnes, up from a previous forecast of 63.9 tonnes, according to mines ministry data shared with Reuters on Wednesday. Mali is one of Africa's top gold producers and home to industrial mines operated by companies including Barrick Gold (GOLD), B2Gold Corp (BTG), Resolute Mining (RMGGF), AngloGold Ashanti and Hummingbird Resources.

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News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.