Tag: Metals/Mining
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Tokyo Steel Manufacturing shares jump after guidance raised on strong demand
[ad_1] Tokyo Steel Manufacturing shares 5423, +21.38% rose sharply Monday morning after it posted strong first-quarter results and raised full-year profit guidance. The shares were recently 21% higher at the upper end of the day’s trading range of 1,703 yen. Tokyo Steel said Friday after market close that net profit climbed 30% from a year…
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Opinion: How Australia is loosening China’s grip on the world’s crucial minerals
[ad_1] With minimal fanfare, Australia is preparing to assume a greater leadership role in the Indo-Pacific region. Its plans are laid out in various national strategies and policies, including most recently its critical minerals strategy. The document, which covers the rest of the decade, reveals Australia’s intention to capitalize on its wealth of critical minerals, undermine China…
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Gold, silver bounce back amid Russia turmoil after hitting 3-month lows last week
[ad_1] Gold and silver futures advanced on Monday, reversing some of their recent losses, as this weekend’s aborted mutiny in Russia helped boost demand for safety plays like gold and Treasury bonds. The yellow metal also benefited from a weaker U.S. dollar, as the ICE U.S. Dollar Index, a gauge of the buck’s strength against…
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Gold prices fall on strong dollar, U.S. housing data ahead of Fed Powell’s testimony
[ad_1] Gold futures fell Tuesday, pressured by U.S. dollar strength after strong U.S. May housing starts and building permits data, as homebuilders ramped up building single-family homes to meet strong demand from buyers, while investors looked ahead to testimony by Federal Reserve Chairman Jerome Powell starting Wednesday. Price action Gold for August delivery GC00, -1.15% GCQ23, -1.15%…
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Gold posts a weekly gain ahead of next week’s U.S. inflation data, Fed decision
[ad_1] Gold prices settled lower on Friday, but held onto a modest gain for the week — their second in a row — on the back of overall weakness in the U.S. dollar. Traders looked to U.S. inflation data and the outcome of the Federal Reserve’s monetary policy meeting, both due next week, as the…
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Gold drifts lower as traders gauge Fed’s rate path
[ad_1] Gold futures edged lower Wednesday, stuck in a tight trading range as investors await further clues on the Federal Reserve’s interest rate path. Price action Gold for August delivery GC00, -0.42% GCQ23, -0.42% fell $4.50, or 0.2%, to $1,977 an ounce on Comex after posting back-to-back session gains. July silver SIN23, +0.61% added 9.5…
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Gold down a third straight session on dollar strength, despite U.S. debt-ceiling impasse
[ad_1] Gold futures tallied a third consecutive session decline on Wednesday, settling at their lowest in nearly a week as further strength in the U.S. dollar pressured prices for the precious metal. Gold gave up early gains that had been driven by uncertainty surrounding a U.S. debt-ceiling deal in Congress. Price action Gold futures for…
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Gold tallies a third straight weekly decline on overall strength in the U.S. dollar
[ad_1] Gold prices finished higher on Friday, after the most-active contract settled at its lowest level in about nine weeks a day earlier, but still tally a third-straight weekly loss. Investors weighed prospects for a deal on the U.S. debt-ceiling in the coming days and also eyed strength in the U.S. dollar to gauge haven…
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Gold retreats, adding to losses from worst week since February
[ad_1] Gold prices headed lower on Monday, adding to last week’s losses, as traders waited to see how the debt-ceiling debate in Washington would shake out — while a stronger U.S. dollar has eaten away at some of the yellow metal’s gains. Price action Gold futures for June delivery GC00, -0.36% GCM23, -0.36% were off…
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U.S. industrial output up 0.5% in April after two flat months
[ad_1] The numbers: U.S. industrial production rose 0.5% in April after two flat months, the Federal Reserve reported Tuesday. The gain in April was above expectations of a 0.1% gain, according to a survey by The Wall Street Journal, but enthusiasm was tempered by downward revisions to both February and March. Capacity utilization rose to…