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Gold holds gains as dollar steadied

  • 29 December 2016
  • Author: NarinUser1
  • Number of views: 486
  • 0 Comments
Gold holds gains as dollar steadied

Gold was little changed early on Wednesday, after rising to a near two-week high in the previous

session, amid a steady dollar.

 

    FUNDAMENTALS

    * Spot gold edged 0.1 percent higher to $1,139.56 announce by 0058 GMT. The bullion hit its strongest since Dec. 14on Tuesday at $1,148.98.

    * U.S. gold futures were up 0.2 percent at $1,140.60

per ounce.

    * The dollar index, which measures the greenback against a basket of currencies, was flat at 103.

    * The dollar edged up against the yen on Wednesday within sight of a 10-1/2 month high in thin holiday trade, after strong U.S. Economic data reinforced expectations that the U.S. Federal

Reserve would be more hawkish in the year ahead.

Brazil’s primary aluminium production rises

  • 29 December 2016
  • Author: NarinUser1
  • Number of views: 456
  • 0 Comments
Brazil’s primary aluminium production rises

Brazil’s primary aluminium production rose by 7.7% in November this year comparing with November last year. Primary aluminium output was 66,000 tonnes in November this year, but the amount of production was 61,300 tonnes in November 2015. The amount of aluminium production in the first eleven months of this year was 725,000 tonnes that is 2.4% upper from the produced amount the same time last year.

CIS flat steel export weakens

  • 29 December 2016
  • Author: NarinUser1
  • Number of views: 514
  • 0 Comments
CIS flat steel export weakens

CIS hot rolled and cold rolled coil and plate export market has weakened this week ahead of the year-end holidays. Market participants reported very low activity because of high prices and falling interests. CIS HRC prices out of this region are reported 500-490 dollar per tonne this week that is 8 dollar lower from last week. Russia and Ukraine offering prices for HRC were 500-510 dollar per tonne fob Black sea. According news, CRC trading prices of CIS in export markets were 550-565 dollar per tonne fob Black sea on December 26 compared with 579-580 dollar per tonne last week. Plate trading prices also deacresed by 10dollar from last week to 480-470 dollar per tonne.

Copper prices rise

  • 7 December 2016
  • Author: NarinUser1
  • Number of views: 515
  • 0 Comments
Copper prices rise

Shanghai Futures Exchange copper climbed 0.8 percent to 48,350 yuan ($7,018) a tonne.

A trader in Shanghai said he did not expect year-end liquidation from local retail investors, who drove up copper prices last month.

China's retail investors have flocked to metals, given a cooling property market and because many were burned in China's stockmarket meltdown last year.

 

China gold reserves unchanged at end-November

  • 7 December 2016
  • Author: NarinUser1
  • Number of views: 486
  • 0 Comments
China gold reserves unchanged at end-November

China's gold reserves totalled 59.24 million fine troy ounces at the end of November, unchanged from a month earlier, the central bank said on Tuesday.

The reserves were valued at $69.8 billion, down from $75.3 billion at the end of October, reflecting the drop in the spot bullion price.

The world's second-largest economy ranks fifth on gold reserves after the United States, Germany, Italy and France.

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