Mining

AngloGold Ashanti reported a 58% rise in its second-quarter profits?on?Friday, as higher 'bullion prices' offset the impact of lower production. The miner reported that its headline earnings for the three-month period ending June 30 were $1.01billion, up from $639mil a year ago. AngloGold's gold production in the second quarter of 2025 fell by 7% compared to last year, to 744,000 ounces. This was due to the sale of Brazil's Serra Grande Mine. The output was also affected?by the 32% decline in gold production in Ghana at the Obuasi Mine?due?to operational and equipment issues as well as?as interruptions related?to an April...

Two White House officials who are familiar with the issue say that U.S. president Donald Trump signed an order on Thursday giving federal officials the authority to block the export of 'old' batteries and other electronic waste containing critical minerals. The move is part of a larger push to increase domestic recycling and counter China’s hold on materials essential to national security. The Presidential Determination allows the Commerce Department, which is a common practice, to issue rules to prevent "e-waste", or electronic waste from being shipped overseas. Officials who requested anonymity for the sake of their jobs said that they...

Investors weighed the decision of the Federal Reserve to hold interest rates at the same level this month, as well as the rising tensions that are affecting the Middle East and have raised inflation concerns. The spot gold price was unchanged at $4,062.30 an ounce as of 0841 GMT. U.S. Gold Futures for August Delivery rose by 0.7% to $4,060.60. Kevin Warsh, the U.S. central bank's chief, pledged to keep inflation under control. After the decision, spot gold prices rose by about 2%. The U.S. Military said that it had struck dozens Islamic Revolutionary Guard Corps targets in Iran in...

Zijin Gold & Allied 'Gold has scrapped its planned C$5.5 Billion ($3.90 Billion) buyout. Instead, the?Chinese?company took a 9.2% share for around $295 M. In premarket trading, shares of Allied Gold listed in the U.S. fell by nearly 15%. The companies announced on Wednesday that they had mutually agreed to allow the deadline of July 29 to expire as "there was no reasonable likelihood" that the remaining conditions would be met in a reasonable time frame. Allied also cited broader external factors affecting trans-border transactions at this scale but did not provide any further?details. Zijin Gold operates mining operations in...

The dollar was a major factor in the gold price's decline on Tuesday. Investors were waiting for the Federal Reserve to announce its interest rate decision this week, and the comments of Chairman Kevin Warsh, who would give them a hint as to the policy outlook. Gold spot fell by 1.2%, to $4.026.49 an ounce at 2:25 pm EDT (1825 GMT), having touched its lowest level since the 21st of July earlier in that session. ?U.S. Gold futures for August deliveries fell 0.9%, settling at $4.038.70. The U.S. Dollar has been stable near its 'one-month-high,' making the greenback price of...

Mexico's government has said that it will compensate Vulcan Materials with less than 1% of the $1.7 Billion compensation sought by the U.S. quarrying firm in an international arbitration over the?closure?of their Mexican mining operations. Vulcan, through its Mexican subsidiary Calizas Industriales del Carmen launched arbitration in 2018 under North American Free Trade Agreement, after authorities closed down its limestone?extraction operation in Quintana Roo. Mexico's Economy Minister?said Monday that the arbitration tribunal rejected almost all?Vulcan?s claims. It upheld only one claim, which was related to the closure of a single site in January 2018. Sources in the government have said...

Gold prices fell on Tuesday, as a result of a strong?dollar? that hovered around a month-high. Investors were waiting for the Federal Reserve's interest rate announcement this week and Kevin Warsh's comments to get a sense of policy direction. Spot gold dropped 1.1% per ounce to $4.032.42 by 9:27 am EDT (1327 GMT), and U.S. Gold Futures for August Delivery fell 1.1%, to $4.032.40. The dollar remained near a one-month high on Tuesday, making greenback-priced bullion expensive for buyers overseas. The dollar remained near its one-month-high on Tuesday, making bullion priced in greenbacks expensive for overseas buyers. David Meger is...

The major Gulf stock markets fell in early trading on Tuesday as investors awaited U.S. Federal Reserve policy decisions and developments in the Iran Conflict, although ongoing corporate earnings provided some support. The majority of Gulf?Cooperation Council nations,?including?UAE?, have their currencies pegged against the U.S. Dollar and closely follow the Fed?s policy, exposing them to the direct effect of monetary tightening on the world?s largest economy. The Fed ends its two-day session on Wednesday. CME FedWatch?shows that 62% of policymakers are likely to keep rates the same, and 38% are expecting a minimum 25-basis point increase. This is up from...

Gold prices rose Monday, as the pause in hostilities involving?the United States?and?Iran?sent?crude oil to a week-low. This eased inflation fears ahead of this week's U.S. rate decision. Spot gold rose 0.9% to $4,090.79 an ounce at 12:35 pm EDT (1635 GMT), and U.S. Gold Futures for August Delivery rose 0.5%, reaching $4,093.00. The U.S. Dollar Index has weakened by?0.1% making greenback bullion prices more affordable to buyers abroad. Bart 'Melek is global head of commodity strategies at TD Securities. He said that the main reason for the lower interest rates is because the oil'market has fallen from $100 to $90...

Gold prices rose on Monday as the United States and Iran agreed to cease hostilities, sending crude oil prices down to their lowest level in a week, which eased inflation fears ahead of this week's U.S. rate decision. Spot gold rose by 0.9%, to $4.087.59 an ounce, at 09:43 am EDT (1343 GMT), whereas U.S. Gold Futures for August Delivery rose by 0.5%, to $4.090. The dollar index weakened by 0.1%, making greenback-priced bullion more affordable for buyers overseas. The dollar index weakened by 0.1%, making greenback priced bullion more accessible to buyers abroad. Bart Melek is global head of...

Gold prices rose on Monday as the pause in the strikes between the United States' and Iran's forces lowered crude oil prices. This helped ease inflation fears and concerns about higher interest rates during the week that Fed policymakers will meet. Spot gold rose 1% by 1200 GMT to $4,092.87 an ounce, while U.S. Gold Futures for August Delivery rose 0.7% to $4,098.00. "Precious Metals started the week in a positive way, thanks to a pause of hostilities in the Middle East. "Oil has fallen and both the dollar yield and U.S. Treasury yields are down," said Ross Norman, an...

Gold prices rose on Monday as a pause between strikes?between U.S. forces and Iranian forces?helped?crude oil?price?fall. This helped ease inflation fears and concerns about the possibility of higher interest rates during a week when policymakers from the Fed will be meeting. Spot gold rose by 0.9% to $4.089.03 an ounce at 0805 GMT. U.S. gold futures for delivery in August also increased by 0.5%, to $4.090.80. "Precious Metals started the week in a positive way, thanks to a pause of hostilities in the Middle East. "Oil has fallen and both the dollar yields and U.S. Treasury yields are down," said...

The?U.S. dollar rebounded from a more than?one-month low hit in the previous session. Dollar recovered from the more than a month low it hit the previous session. However, gold was still on course for its first gain of the month in five months as weaker inflation figures reduced expectations of future rate hikes in the U.S. Gold spot was down 1.8% to $4,027.75 an ounce as of 09:59 am EDT (1359 GMT) after having fallen 2% earlier. ?U.S. Gold futures for August deliveries dropped by 1.9% to $4 025.10. Gold is up 0.5% this month, the biggest monthly gain since...

The copper price?firmed up on Friday, and was set to post a'monthly gain' as the market digested an 'easier dollar and a greater improvement in risk appetite?in equity markets. Benchmark?copper? on the London Metal Exchange rose 0.27% to $13,840.5 per metric ton at 0740 GMT and was on course for a month-long gain of 3.5%. The most traded copper contract at the Shanghai Futures Exchange increased 0.66%, to 105460 yuan, or $15,632.04, a 3% increase since the beginning of the month. The dollar tumbled overnight, making copper and other greenback-denominated commodities ?cheaper for buyers using other currencies, offering support. Dr...

The copper price rose on Friday, and was set to gain a month-long increase as the market absorbed a lower dollar and continued supply pressure. Benchmark three-month?copper?on London Metal Exchange?was flat at $13,804.5 per?metric?ton?by 0300 GMT and was on course for a 3.25 % gain for the entire month. The most traded copper contract at the Shanghai Futures Exchange increased 0.71%, to 105.510 yuan (15,635.74) per ton. This is a 2.75 percent increase since the beginning of the month. Overnight, the?dollar fell making commodities cheaper for buyers who use other currencies. Copper prices have been supported by the falling stocks,...

Investors weighed Middle East developments and the impact they have on U.S. interest rate expectations. As of 0253 GMT the spot gold price fell by 0.6%, to $4,076.53 an ounce. However, it was on track for a 0.6% weekly increase. Prices rose by about 1.7% in the last month. U.S. Gold Futures for August Delivery fell 0.4% to $4 074.20. Tim Waterer is the chief market analyst for KCM Trade. He said that gold was showing a slight negative bias due to profit-taking, and a moderate rise in the U.S. Dollar. This follows the gains made by the metal yesterday,...

South Korean shares rose 16% on Friday morning, fueled by a new surge in investment in global semiconductor stocks. This is the latest swing in a market that has been thrown back and forth by leveraged bets. The benchmark KOSPI rose 919.07 or 16.43% to 6,512.63 at 0115 GMT after three consecutive sessions that saw the index drop to its lowest levels since April 7. Both chipmakers are set to record record gains. Both chipmakers are responsible for more than half the KOSPI market capitalisation. The shocking turnaround was after the Philadelphia Semiconductor?Index soared 8% in U.S.A. on Thursday. Micron...

Gold prices rose on Thursday, as the U.S. Dollar weakened. Investors also weighed up the Federal Reserve's decision not to change interest rates and watched the escalating tensions that may have triggered inflationary pressures in the Middle East. By 1131 GMT, spot gold had risen 0.3% to $4.076.52 an ounce. U.S. Gold Futures for August Delivery rose 1% to $4074.30. The move for gold is "primarily driven" by the weaker U.S. Dollar, and markets are adjusting their expectations modestly on what next moves will be made by the Fed. UBS analyst Giovanni Staunovo stated. The U.S. Dollar Index has weakened...

After the Federal Reserve said that it would maintain interest rates at the same level, and after tight inventories outside of the U.S., copper prices rose on Thursday. The benchmark three-month copper on the London Metal Exchange was up 1.2% at $13,747.50 a metric ton by 0932 GMT after falling in the previous sessions. Dollar falls to one-week lows as markets assess possible Fed interest rates paths following Wednesday's policymakers' vote to maintain the same rate. A cheaper dollar can boost greenback-denominated commodities by making them more ?affordable for buyers using other currencies. According to CME Group’s FedWatch?tool, the markets...

The dollar fell on Thursday after the U.S. Federal Reserve announced that it would maintain a stable interest rate. The benchmark three-month copper price on the?London Metal Exchange rose 0.75% to $13,676 per metric tonne by 0730 GMT. The Shanghai Futures Exchange's most traded copper contract fell 0.1% to 104 690 yuan (15,492.25 dollars) per ton. Dollar falls to one-week lows as markets assess possible Fed interest rate paths following Wednesday's policymakers' vote to maintain rates. A cheaper ?dollar can boost greenback-denominated commodities by making them more affordable for buyers using other currencies and ?higher interest rates can weigh on...

The price of copper and other industrial metals jumped on Thursday as a result of a weaker dollar after the U.S. Federal Reserve announced that it would maintain interest rates at their current level. Benchmark three-month?copper?on London Metal Exchange was?up 0.7% to $13,676 per metric tonne by 0300 GMT. The Shanghai Futures Exchange's most traded copper contract was up 0.12% to 104,920 Yuan ($15.520.25) per ton. Dollar falls to one-week lows as markets digest a possible less hawkish Fed rate path after policymakers voted to keep rates stable on Wednesday. A cheaper dollar can boost ?greenback-denominated commodities by making them...

Copper fell on Wednesday, as traders remained cautious ahead of the Federal Reserve's interest rate announcement later that day. They also looked for signs of an easing of supply constraints in China, the world's largest consumer. Aluminium rose due to renewed fighting in Middle East. Benchmark three-month Copper on the London Metal Exchange fell 0.4% to $13,631 per metric ton at 1002 GMT. However, it held above the moving average of 50 days, which provided support at $13,576. Investors remained on the sidelines as the Fed made its decision. The markets are pricing in roughly 30% of a 25 basis-point...

Copper prices slid on Wednesday as demand concerns and a?strong dollar weighed down ahead of the end of the Federal Reserve's meeting in the United States. Benchmark three-month Copper on the London Metal Exchange fell?0.13%?to $13,667 per metric ton at 0700 GMT. The Shanghai Futures Exchange's most traded copper contract closed the daytime trade down 0.15%, at 104 890 yuan (15,494.96) per ton. Markets have increased the odds that rates will increase in September. The Fed is expected hold rates at their current level on Wednesday. According to CME FedWatch, traders see a 70% chance of no change in rates...

Three people familiar with the matter have confirmed that global commodity trader IXM has expanded its portfolio to include iron ore. This is despite the fact that the near-record low price volatility of the steelmaking ingredient reduces profit opportunities and dampens investor interest. IXM in Geneva, one of the largest traders of non-ferrous physical metals like?copper or nickel?, signed last week a prepayment agreement with Brazilian miner Itaminas, to lock-in supply. One of the sources, who asked to remain anonymous because they weren't authorised to talk to the media about the matter, confirmed this. The terms of the agreement were...