Gold prices fell Tuesday, staying below a recent peak hit in late January with some analysts expecting confidence in the U.S. economy to limit demand for the safe-haven metal. Front-month gold futures for February delivery fell 0.6% to $1,565.60 a troy ounce on the Comex Division of the New York Mercantile Exchange, dropping 1.1% below a nearly seven-year high hit late last month. Prices have surged since last summer, with investors seeking to hedge against a stock-market...
Gold prices fell Tuesday, staying below a recent peak hit in late January with some analysts expecting confidence in the U.S. economy to limit demand for the safe-haven metal. Most-active gold futures for April delivery fell 0.6% to $1,570.30 a troy ounce on the Comex Division of the New York Mercantile Exchange, dropping about 1% below a nearly seven-year high hit late last month. Prices have surged since last summer, with investors seeking to hedge against a stock-market...
SYDNEY-- Currencies of countries that have their economic wagons hitched to China have taken a sharp hit in recent weeks, with the Australian dollar reaching its lowest point in over a decade Monday. Reflecting growing concerns about the damage the new coronavirus will do to China's economy, and especially its appetite for commodities like iron ore and copper, Australia's currency traded for as little as 66.6 U.S. cents as markets opened in Asia. That was its weakest since March...
Glencore PLC (GLCNF) said Monday that it has signed a five-year agreement with Samsung SDI Co. for the supply of cobalt hydroxide. Under the terms of the agreement, the Anglo-Swiss commodity trading and mining company said it will provide up to 21,000 metric tons of cobalt between 2020 and 2024 sourced from Glencore's (GLCNF) industrial mining operations in Congo. Write to Adriano Marchese at adriano.marchese@wsj.com.
Glencore PLC (GLCNF) said Tuesday that copper production fell 9% in the fourth quarter of 2019 and that it expects a further decline this year. The Anglo-Swiss commodity trading and mining company said it produced 355,400 metric tons of tons of copper in the three months ended Dec. 31 compared with 390,600 tons in the year-earlier period. Cobalt production during the fourth quarter was down 13% at 11,300 tons, Glencore (GLCNF) said.
The fallout from the deadly coronavirus is battering emerging markets, a sign of skepticism that the world economy can easily bounce back from its worst year in a decade. After weeks of hoping that a trade detente would buoy the global economy, investors have retreated from wagers on commodities and emerging markets dependent on Chinese consumption. In the eight trading days through Wednesday, the industrial metal copper slid more than 10% and Brent crude, the global gauge of oil...
SYDNEY-- Australian resources company Newcrest Mining Ltd. (NCMGF) said gold and copper production increased in the December quarter, but added that gold production for the fiscal year would be at the lower end of guidance. The company said gold production rose 8% to 551,000 ounces and copper production rose 52% to 38,000 tonnes in the December quarter. It reported an all-in sustaining cost of US $859 per ounce, down US $40 from the prior quarter.
Gold prices hovered near their highest level since April 2013 Tuesday, preserving a monthslong rally that has seen investors flock to the safe-haven metal with uncertainty about geopolitics and now the coronavirus swinging markets. Front-month gold futures for January delivery inched down 0.5% to $1,569.20 a troy ounce on the Comex division of the New York Mercantile Exchange Tuesday, a day after they closed at a nearly seven-year peak. Prices are up more than 20% since the...
Gold prices hovered near their highest level since April 2013 Tuesday, preserving a monthslong rally that has seen investors flock to the safe-haven metal with uncertainty about geopolitics and now the coronavirus swinging markets. Most-active gold futures for February delivery inched down 0.1% to $1,575.60 a troy ounce on the Comex division of the New York Mercantile Exchange Tuesday, a day after they closed at a nearly seven-year peak. Prices are up more than 20% since the...
Crude-oil and copper prices slumped Monday amid heightened fears that the spread of the coronavirus could erode demand in China, the world's largest consumer of industrial commodities. Brent crude futures, the global oil benchmark, fell 2.3% to close at $59.32 a barrel, a three-month low. The main U.S. oil-price gauge, West Texas Intermediate, dropped 1.9% to $53.14 a barrel.
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