Mining

Gold prices reversed course and edged up on Thursday, after a U.S. reading of inflation?came in largely line with expectations. This eased some concerns about upcoming Federal Reserve rate increases and pushed the dollar and Treasury yields down. As of 11:12 am EDT (1512 GMT), spot gold rose 0.2% to $4,007.65 per ounce after dropping as much as 1% in earlier sessions. U.S. Gold Futures for August Delivery rose?0.3%, to $4.021.00 an oz. "PCE data appears to have been in line with expectations. David Meger is director of metals at High Ridge Futures. He said that it's a big reason...

Gold prices reversed course on Thursday and climbed higher after the U.S. inflation reading?came in line with expectations. This eased some concerns over imminent Federal Reserve rate increases and pushed down Treasury yields and the dollar. As of 9:15 am EDT (1315 GMT), spot gold rose 0.7% to $4,029.09 per ounce after dropping as much as 1% in earlier sessions. U.S. Gold Futures for August Delivery? rose 0.9% to $4.045.20 an oz. The PCE data appears to have been in line with expectations. David Meger is director of metals trading at High Ridge Futures. The U.S. Personal Consumption Expenditures Price...

On Wednesday, spot gold prices fell below the psychologically important?level? of $4,000 an ounce for the first time since 2025. This was due to a stronger U.S. dollar and growing expectations that interest rates would remain high. Dollar-priced gold is now more expensive to holders of other currencies. After the U.S. Central Bank struck a hawkish tone at its most recent policy meeting, traders have increased their bets that interest rates will rise in the U.S. this year. They also continue to worry about inflationary pressures due to the Iran War. Tai Wong, an independently-owned metals trader said that the...

Lingyi iTech, a Chinese company, priced its Hong Kong IPO at HK$10.18 ($1.06bn), allowing it to raise HK$8.3bn ($1.06bn), which will be used in part to expand its AI capabilities. Apple's supplier is aiming to capitalize on the rising demand for AI computing and advanced equipment. In its prospectus, it stated that approximately 37.6%, or about HK$3,07 billion, of the IPO proceeds would be used to upgrade core manufacturing processes and increase production capacity. The next three years will see a total of?HK$1,71 billion invested in the manufacturing of high-density AI server, humanoid robotic hardware and AI optical communications infrastructure....

Investors weighed conflicting signals about U.S. peace talks with Iran as they assessed the varying signals from U.S. and Iran. Gold spot fell 0.7%, to $4,081.24 an ounce, at 0751 GMT. It had earlier fallen to its lowest level since June 11. U.S. Gold Futures for August Delivery declined by 1.2% to $4.098.70. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections in "infinity" while Tehran claimed it had not made such a concession during negotiations. This raises questions about whether their fragile peace agreement will survive. Both sides disagreed over the details of a...

Investors weighed conflicting signals about the U.S. - Iran peace talks as they assessed the 'dollar's rise due to bets placed on a rate hike in the U.S. Gold spot fell by 1.1%, to $4,064.01 an ounce, at 0431 GMT. It had earlier fallen to its lowest level since June 11. U.S. Gold Futures for August Delivery declined 1.7% to $ 4,080.80. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections in "infinity" while Tehran claimed it had not made such a concession during negotiations. This raises questions about whether their fragile peace agreement will...

The?U.S. dollar?hit a one-year high on Tuesday, outweighing support from lower oil prices amid progress in U.S.-Iran talks. Dollar?hit a year-high on expectations of a Federal Reserve interest rate hike. This outweighed support from lower oil prices in light of progress in U.S. Iran talks. By 11:45 am, spot gold had fallen by 1.2% to $4138.79 an ounce. ET (1545 GMT). U.S. Gold Futures for August Delivery fell by 1.1% to $4156.40 an ounce. The U.S. Dollar rose to its highest levels in over a year, making gold more expensive for foreign buyers. Right now, gold and silver don't look...

?Gold prices fell on?Tuesday as the U.S. Dollar hit a year-high on expectations of a Federal Reserve rate hike, which outweighed support from softer prices for oil amid progress in U.S.Iran negotiations. By 9:26 am, spot gold had fallen 1.7% to $4118.73 an ounce. ET (1326 GMT). U.S. Gold Futures for August Delivery?fell by 1.6% to $4135.60 an ounce. The U.S. Dollar rose to its highest levels in over a year, Tuesday. This made gold more expensive for buyers from abroad. "At the moment, gold and silver aren't looking at the Middle East." Bob Haberkorn is a senior market analyst...

CopperTech Metals aims to raise up to $3.57 'billion? in its U.S. IPO, joining a 'wave' of companies aiming for the crowded IPO market this summer. It said that the U.S. copper and cobalt company is looking to raise up to $423.5 by selling 23.5 million shares at a price between $16 and 18 per share. After a short lull, the IPO market is now booming. The stock markets are bouncing back and investors' appetite has increased. This week, e-bike startup Lime and silver?miner Sinda launched their U.S. initial public offerings. ITG, a digital infrastructure company, and Italian technology company...

Energy Fuels announced on Tuesday that it would purchase a German magnet manufacturer Vacuumschmelze GmbH, for $1.9 billion, in cash and stock. This will create an integrated supply chain from a rare earth mine through to fabricated magnets for customers in the defense, automotive, and technology industries. Energy Fuels shares fell 6.2% during pre-market trading. The U.S., Europe, and other countries are working together to reduce reliance on China, the world's largest rare earth miner, processor, and magnet manufacturer. Rare earth magnets are used in electric cars, defense systems and robotics. They also appear in semiconductors, data centers, and semiconductors....

Executives have revealed that Orion Critical 'Mineral Consortium is in advanced talks to establish three new public-private partnership in Asia as it looks to fund a?global? pipeline of $20 billion opportunities. The consortium will form a third leg of investment in Asia to complement the $1.8 billion raised last year by the group to improve access to critical minerals such as copper, lithium and rare earths. The project is being led by Orion Resource Partners a mining-focused private equity firm, and backed up by the U.S. International Development Finance Corporation and Abu Dhabi’s sovereign wealth fund ADQ. Orion Resource Partners...

New Zealand is accelerating gold projects and courting investors as rising bullion prices revive an industry that has been in decline for a long time. The government is also testing its "100% pure" brand, while it looks for ways of boosting a weak economy. According to calculations, New Zealand's production of gold is expected to double in the mid-2030s, reaching its highest level?in atleast three decades. Two new projects have already been approved, and a third awaits a final decision. This?would? put the country on track to surpass the government's goal of increasing annual mineral exports to NZ$3bn ($1.8bn) by...

Hong Kong Census and Statistics Department data released on Thursday showed that China's net imports of gold via Hong Kong dropped by 38% from April to May. China is the largest consumer of gold in the world. Its purchasing behaviour can have a global impact on gold markets. Hong Kong's data might not be a complete view of Chinese gold purchases, as it is also imported through Shanghai and Beijing. China's total imports of gold via Hong Kong fell by 34% in May to 65.562 tonnes, compared with April's 90.327 tons. Giovanni Staunovo, an analyst at UBS, said that direct...

Aluminum traded at a level similar to that of the pre-Middle?East War levels for the second trading day as the market priced in its conflict risk premium. Benchmark?aluminium for three months on the 'London Metal Exchange' edged up by?0.14%?to $3,127 per metric ton at 0701 GMT. This marks a 8% decline since the beginning of the week. The Shanghai Futures Exchange's most traded aluminium contract closed daytime trading down by 2.58% at 22,865 Yuan ($3,360.82). It fell earlier in the session to 22,665 Yuan per ton ($3,360.82), its lowest level since 2026. Analysts at Sucden Financial noted that the decline...

Chinese coking 'prices' pared gains earlier to trade lower?Thursday, as concerns about demand prospects for steelmaking ingredients were fueled by a slump in steel consumption. Data from the consultancy Mysteel revealed that apparent consumption of five major steel products sank 6.5% on a week-on week basis as of Thursday. This compares to a gain of 3.1% during the previous week. Steel prices and feedstocks were under pressure due to the deteriorating market sentiment. The Dalian Commodity Exchange's (DCE) most traded coking coal contract closed the daytime trading 0.88% lower, at 1,238.5 Yuan ($181.99) a metric ton. The most actively traded...

South Korea's benchmark index continued its recovery for a second session on Thursday as investors returned to the market after a historic tech crash earlier in the week. As of 04:18 GMT, the benchmark KOSPI was up 466.67 or 5.51% at 8,937.69. The?rise has now reached 9% in two sessions. The?drop of nearly 10% on Tuesday was the biggest since March. The movements underscore a 'volatile tug-of war between rising interest rates anxiety and opportunistic buying of Korean tech shares at dips. SK Hynix, a?peer company, gained 12.17%, tagging a rally among U.S. chips stocks following Micron's earnings report and...

Aluminum prices fell on Thursday as the Middle East war-risk premium faded, as the fragile peace in?region continued to hold. The Shanghai Futures Exchange's most traded aluminium contract fell 2.75% to?22.825 yuan (3,354.55) per ton after?falling?to an earlier 2026 record low price of 22.665 yuan per ton. The benchmark three-month aluminum on the London Metal Exchange was up 0.13% to $3,126.5 per metric ton at 0339 GMT. This marks an 8% decline since the beginning of the week. As ships passed through the Strait of Hormuz, prices for the light metal fell this week. A fragile peace seemed to hold....

The price of aluminium fell to pre-Iran war levels on Wednesday as the U.S. Dollar strengthened and the Middle East Risk Premium continued to decline. This outweighed any signs of disagreement between Washington and Tehran regarding key terms of a peace agreement. Benchmark three-month aluminum on the London Metal Exchange fell 3.3% to $3,124 per metric ton at 1601 GMT. It had earlier fallen as low as $3,110 and was below the support of the 200 day moving average, which is around $3142. The price of'metal for construction, packaging, and transport has fallen 18% after the Iran War caused Gulf...

Lingyi iTech, a Chinese company, priced its Hong Kong initial public offering (IPO) at HK$10.18 ($1.06bn), allowing it to raise HK$8.3bn ($1.06bn), which will be used to expand its AI capabilities. Apple's supplier is looking to capitalize on the rising demand for AI computing and advanced technology. In its prospectus, it stated that approximately HK$3,07 billion or?37.6%, of the IPO proceeds would be used to upgrade?core manufacturing process and increase production capacity. The next three years will see around HK$1.71bn invested in the manufacturing of emerging technologies such as high-density AI server hardware, humanoid 'robot hardware and AI optic communication...

China announced Wednesday plans to create a 'whistleblower hotline' that will encourage citizens to report the smuggling?of restricted?critical minerals. Beijing is continuing its crackdown against a sector which has given it so much diplomatic leverage. The Ministry of Commerce will reward organisations and individuals who report violations of export controls, such as transshipment. Callers must call during normal business hours. The hotline is closed for 2.5 hours over lunch. You can also submit information?via a?form online. China processed the majority of rare earths in the world and used its production control to great diplomatic advantage during the U.S. trade war....

Two'sources' with knowledge of the matter said that CSN Mineracao, a Brazilian miner and steelmaker, is in talks to establish a supply deal with China's iron ore buyer. This is another sign that Beijing wants to tighten up its control over iron ore prices. China Mineral Resources Group plans to become the exclusive agent for some of CSN's Iron Ore cargoes that are sold in China, according to one source. This is similar to a deal struck with Roy Hill (now part of Australia's Hancock Prospecting). China Mineral Resources Group has negotiated better sales terms between steelmakers and miners in...

South Korea's benchmark stock index staged a sharp recovery on Wednesday. It recovered more than 3% following a?drop of nearly 10% a day before, as retail investors rushed to purchase the?dip. The benchmark KOSPI closed at 8,471.02 after rising up to 4.55%. Samsung Electronics led the index upwards, rising 9.84% following a report in the media that the chipmaker planned a share-buyback program worth around 90 trillion won ($58.4billion). Peer SK -Hynix rose by 0.98%. Seo Sang Young, a Strategist at Mirae Asset Securities Co., explained that the rebound was a huge recovery of the double-digit losses from the previous...

The iron ore price rebounded from the multi-month lows that were hit on Tuesday, thanks to a 'wave of dip buying and a short covering by some traders. After touching a 11-month-low on Tuesday, the most-traded contract for iron ore on China's Dalian Commodity Exchange rose 0.34% by 0305 GMT to 741 Yuan ($109.16). As of 0255 GMT the benchmark?July ore traded on the Singapore Exchange had risen 0.64% to $98.05 per?ton after having hit a four-month low?Tuesday. In anticipation of a seasonal slowdown in demand and a rising supply, Dalian and Singapore prices declined by 7.7% and 7% respectively...

South Korea's KOSPI recovered sharply on Wednesday morning. It surged 4.1% in the first 30 minutes after nearly a 10% plunge just a day earlier. Retail?investors were rushing to buy a dip. KOSPI increased by more than 330 points, to 8,550.21, just moments after trading started at 0000 GMT. Market leader Samsung Electronics jumped more?than 9% and SK Hynix gained 5%. Seo 'Sang-young is a strategist with Mirae Asset Securities Co. He said that the rebound immediately recouped the double-digit losses of the previous session as retail investors filled the order books. Seo stated that "retail investors are a major...