Aluminium
Gold up as dollar fails to gain on euro
by Brian Turner
Gold prices were up by $1.60 at midday in New York to $439.40 per troy ounce as the dollar could not gain ground on the euro in currency trading.
SA gold miners return to work
by Brian Turner
According to South Africa’s Chamber of Mines, the 100,000 member National Union of Mineworkers has accepted an improved wage offer and will send its members back to work beginning on Thursday night.
The new offer gives miners a wage increase of between 6 and 7 percent. The strike began on Sunday night when [...]
Inventories temper copper price
by Brian Turner
Copper prices were down as inventories rose more quickly than they have in almost a year. Prices were down 0.3 percent on the London Metal Exchange to $3,529 per tonne as inventories in LME warehouses were up 13 percent, or 5,800 tonnes, on Thursday to 49,800 tonnes.
This was the largest daily jump [...]
Copper down 3 percent on interest hikes
by Brian Turner
Copper prices on the London Metal Exchange were down by 2.1 percent to $3,490 per tonne on speculation that the dollar could gain strength following the hike in the US interest rate by the Federal Reserve.
Tuesday’s decline took copper prices 3 percent lower than Friday’s record high of $3,600 per tonne, and it [...]
South African gold strike threatens supply
by Brian Turner
South Africa’s gold mining industry was hit by a nationwide strike on Sunday night after talks between the National Union of Mineworkers and the chamber of mines broke down.
The miners were demanding a pay hike of 12 percent but the chamber was only willing to give a 5 percent raise in pay. [...]
Gold settles after recent market high
by Brian Turner
Gold settled to $432.10/$432.90 per troy ounce in late trade in London after having risen to a 4-week high of $433 per troy ounce earlier in the day on the announcement that the National Union of Mineworkers in South Africa will begin a strike on Sunday after talks on pay between union and management groups [...]