Shanghai aluminium prices rose on Friday, hovering near a 11-year high, on supply worries in China amid a fresh round of electricity restrictions in major producing province of Yunnan. The most-traded September aluminium contract on the Shanghai Futures Exchange closed up 2.6% at 20,085 yuan a tonne, near a January 2010 high of 20,530 per tonne.
* Silver heads for first weekly gain in four. * SPDR Gold ETF holdings rise 0.6% on Thursday. * Dollar set for its worst week since May. By Eileen Soreng.
Shanghai aluminium prices rose on Friday, and were set to notch a monthly gain, as power consumption limits imposed in a major Chinese production province sparked supply concerns. The most-traded September aluminium contract on the Shanghai Futures Exchange rose 2.2% to 19,995 yuan a tonne by 0333 GMT, heading towards a January 2010-high of 20,530 per tonne.
Gold prices held near a two-week high on Friday, and were set for their biggest weekly gain in more than two months, on renewed signs that the U.S. Federal Reserve may not taper economic support and hike interest rates in the near term. FUNDAMENTALS. * Spot gold was steady at $1,827.70 per ounce, as of 0053 GMT, after having hit its highest since July 15 at $1832.40 on Thursday.
Yamana Gold Inc (AUY): * YAMANA GOLD REPORTS SIGNIFICANT PROGRESS ON PHASE 2 EXPANSION AT JACOBINA AND STRONG EXPLORATION RESULTS FOR THE OPERATION; COSTS TO COMPLETE PHASE 2 SIGNIFICANTLY REDUCED COMPARED TO ORIGINAL ESTIMATE; PHASE 3 EVALUATION ADVANCING Source text for Eikon: Further company coverage:
* Dollar slips to one-month low. * Silver hits highest since July 19. * Gold's rally could be more sustained- analyst. By Nakul Iyer. Gold jumped more than 1% on Thursday as investors cheered U.S. Federal Reserve Chairman Jerome Powell's comments that the central bank was unlikely to hike rates anytime soon.
* Dollar slips to one-month low. * Silver hits highest since July 19. * Palladium, platinum rise 1% By Brijesh Patel. Gold prices rose more than 1% to a near two-week high on Thursday after U.S. Federal Reserve Chairman Jerome Powell reassured investors that a rate hike is not on the cards anytime soon, sending the dollar to multi-week lows.
London copper prices rose on Thursday as the dollar weakened after Federal Reserve Chairman Jerome Powell said rate increases were distant, making greenback-priced metals cheaper to holders of other currencies. The dollar slipped to multi-week lows in Asian trading on Thursday.
* U.S. weekly initial jobless claims at 1230 GMT. * Dollar hits a more than two-week trough. * Next key resistance for gold at $1,830-$1,840 - analyst. By Arundhati Sarkar.
Gold demand was little changed in the first half of the year as a rebound in consumer demand for bars, coins and jewelry counteracted waning appetite from institutional investors, the World Gold Council said Thursday. Global demand for the precious metal stood at 1,833 metric tons in the first half of the year, 10% less than during the same period in 2020, the WGC said in its quarterly report. Demand in the second quarter stood at 955.1 tons, largely unchanged from the same period last...
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