Posted by Frik Els
on
Friday, 5 June 2020 8:43
Copper advanced to 12-week high on Thursday as China’s $700 billion stimulus program focussed on so-called “new infrastructure” and “new urbanization” kicked into gear.
Copper trading in New York jumped to $2.5025 a pound ($5,515 a tonne) in lunchtime trade, bringing the bellwether metal’s gains since its mid-March low to just under 27%.
BMO Capital Markets, in a research note points out that data from China’s Ministry of Finance show the value of special purpose bonds issued – destined for local government spending on infrastructure – has already surpassed the full-year total in 2019…CLICK for complete article
Posted by Jackson Chen
on
Wednesday, 3 June 2020 10:19
Gold prices fell further on Wednesday as optimism over a short-term economic recovery boosted investor demand for riskier assets, sending equities to three-month highs despite rising covid-19 tolls and ongoing protests in the US.
Spot gold declined 1.9% to $1,692.93 per ounce as of 11:30 a.m. EST. Gold futures were also down 2.1% to $1,691.90 per ounce on the Comex in New York.
“Generally markets are getting comfortable with the fact that even though the data is bad, things are likely to improve and that is taking the shine off gold,” Michael Hewson, Chief Market Analyst at CMC Markets UK, told Reuters…CLICK for complete article
Posted by Mining.com
on
Monday, 18 May 2020 10:28
Gold climbed to a fresh seven-year high Monday after the US Federal Reserve said in a report last Friday that stocks and asset prices could “suffer a significant hit,” should the covid-19 pandemic deepen.
Chairman Jerome Powell warned that a full economic recovery could drag through until the end of 2021, depending on the delivery of a vaccine.
Spot gold jumped as much as 1.2% to $1,764.73 an ounce, the highest since October 2012. Since then it has cooled off, trading at $1,734.31 an ounce as of 11:15 a.m. EST.
Gold futures for June delivery also rose 1.0% earlier to $1,775.8 an ounce before falling down to $1,739.70 on the Comex…CLICK for complete article
Posted by Charles Kennedy
on
Thursday, 14 May 2020 10:36
The pandemic lockdown is killing the global economy, and while stocks are rebounding on the slim hope that everything will eventually go back to normal, Wall Street knows a fear bargain when it sees one, and this could be gold’s time to shine, while some other commodities get crushed.
Gold is trading at over $1,688 an ounce right now. And it’s going to hit $3,000 an ounce in about 18 months, according to the Bank of America.
So imagine buying it in the ground for $3-$4 an ounce instead.
When Wall Street goes bargain hunting, it’s looking for discount gold.
One way it does so is by targeting junior miners with in the ground gold assets, setting short-term price targets that make these global gold assets a cheap base price for investors who are fleeing the next potential economic meltdown.
Among the well-known Wall Street bargain shoppers are Cantor Fitzgerald and GMP Research, two authorities on the street that closely follow the world’s breakthrough gold developments…CLICK for complete article
Posted by Mining.com
on
Tuesday, 12 May 2020 10:12
Production of so-called battery metals, such as graphite, lithium and cobalt, will have to increase by nearly 500% by 2050 to meet the growing demand for clean energy technologies, the World Bank said on Monday.
According to the global lender, over 3 billion tonnes of minerals and metals will be needed to deploy wind, solar and geothermal power, as well as energy storage required for mov transitioning to a low-carbon economy.
Many of the critical minerals used to make batteries for electric vehicles are found in developing nations. The World Bank’s goal is to help those nations to mine those commodities in a sustainable way to avert major ecological damage.
Mining the vast amount of key commodities the world will need in 30 years is seen as the only path to achieving the goals of the Paris Agreement. The accord seeks limiting global warming to 2°C or less….CLICK for complete article
