Gold Price Suffers Sharp Sell-Off
Is there a sell-off in gold emerging after Comex futures suffered their biggest daily loss for more than seven years, while silver had its biggest slump in 9 years?
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Buoyant Gold Price Saves Barrick Gold From Soft Year
Barrick Gold – the world’s second-biggest gold miner – says second-half earnings rose and the dividend is higher but is worried about the growing impact of the closure of its Pogera mine in Papua New Guinea where the company is in a dispute with the government that shows no sign of being resolved.
Read MoreAurizon On Track With Higher Dividend, Profit Lift
Queensland-based railroad group, Aurizon has boosted final dividend despite forecasts of a weak performance for 2020-21.
Read MoreMining Major Glencore Deems Dividend ‘Inappropriate’
Unlike its rivals such as Rio Tinto, BHP, Vale, and Anglo American, Glencore PLC won’t pay a dividend for 2020 after swing to a massive interim loss off the back of billions of dollars of asset impairments.
Read MoreAre Australian Resource Stocks Expensive Relative To Commodities?
Analyst Lawrence Grech presents the ShareCafe chart of the week. While price momentum in Resource stocks has been powerful and could continue, there appears to be a rising chance of market consolidation or pullback.
Read MoreChina Iron Ore Imports Touch New High In July
China’s imports of iron ore in July surged by nearly a quarter to a record high, copper imports also rose sharply to a second monthly record in a row and crude oil shipments into the country remained near the all-time high set in June.
Read MoreCommodities Roundup: Copper Leads Losses As Gold, Oil Also Slip
While gold went off the boil on Friday after a five-session surge, oil also retreated on the day as well, but the most intriguing movement was the sharp fall in copper futures on Comex after Donald Trump ramped up his election campaign against China and Chinese companies.
Read MoreCentaurus Metals Hits Shallow High-Grade Nickel At Jaguar North
CTM is moving ahead in leaps and bounds with respect to its Jaguar project, a fact reflected in the company’s strong share price performance.
Read MoreBest Ideas To Participate In The Green Movement
Back in 2017, I coined the phrase ”Green Movement” and over the year in my column on ShareCafe, I specifically focused on several stocks that would benefit from the world going green. This included everything from electric vehicle penetration, renewable energy, and even the move towards organic products. 2017 ended up being a great year for the “Green Movement”.
Read MoreAnalysts Downgrade Monadelphous As Rio Tinto Makes $493m Damages Claim
Shares in Perth-based mining services company Monadelphous have dropped to a four-year low as broking analysts cut their ratings on the stock in the wake of news of a $493 million damages suit from Rio Tinto.
Read MoreGold Holds Above $2,000 For The First Time In History
Gold ended above the once mythical $US2,000 an ounce level for the first time ever on Tuesday, gathering momentum late in the session as government bond yields headed lower and as the US dollar’s brief strengthening eased.
Read MoreFederal Reserve’s Balance Sheet – A Gold Price Driver To Watch
When the real economy’s money demand remains tepid, more of that money stays within financial markets and perhaps to gold. The 80%+ rise YoY in the Fed’s balance sheet has arguably aided Gold’s stellar rise.
Read MoreNasdaq Sets New Record; Gold Breaks $2,000; Iron Ore Hits 2020 High
Gold briefly topped the $US2,000 level for the first time ever in trading on Comex on Monday, at the same time, iron ore prices hit 2020 highs while the Nasdaq also hit new records and closed at an all-time high.
Read MoreKrakatoa Executive Chairman Colin Locke Discusses Their Drilling Programs
Krakatoa Executive Chairman Colin Locke provides an update on the company’s Belgravia Porphyry Project and the Turon Gold Project.
Read MoreGold Rally Shines On, Oil Edges Higher
Gold prices again charged higher on Friday, closing within sight of the $US2,000 a level after losing ground on Thursday for the first time in 10 sessions. Meanwhile, oil prices ignored the end of the 9.7 million barrels a day OPEC + (with Russia) oil production cut on Friday and headed higher on Friday.
Read MoreRio Tinto’s Winu Assessment A Boost For Antipa
The Winu maiden resource assessment is a significant milestone – and from AZY’s perspective this is excellent news. Having first entered the Paterson during 2011 when it was a much less sought-after exploration address, AZY used its early-mover advantage to build a strong tenement holding of ~5,200 sq km.
Read MoreAs ETF Investors Go For Gold, Is A Bubble Brewing?
As gold heads towards $US2,000 an ounce, it’s worth asking if gold is becoming a hostage of the Exchange Traded Funds (ETFs) that specialise in investing in the metal?
Read MoreAnalysts Tip Bumper Dividend As Fortescue Flags More Records
While Fortescue Metals will report another huge year in terms of revenue and profits next month for the year to June, that could be the peak.
Read MorePrecious Metals Rally Rolls On, Oil Prices Receive A Boost
Commodities rose Wednesday, led by gold, oil, and iron ore as the Fed kept US monetary policy on track and markets ignored the continued rise in COVID-19 cases and deaths in the US and globally.
Read MoreResilient Iron Ore Price Helps Rio Navigate “Challenging” Half
Rio Tinto has lifted its mid-year dividend payout despite a 20% fall in net profit with the company now more hostage to iron ore than at any other time in its history.
Read MoreUS Dollar Breaking Down, Gold & The $A Breaking Up – What Does It Mean For Investors?
The price of gold has now broken out to a record high and the Australian dollar has risen 30% from its coronavirus panic low in March and broken above $US0.70. What’s driving this and what does it mean for investors? This note looks at the main issues.
Read MoreRio Tinto Reveals More Detail On Winu Copper-Gold Resource
Rio Tinto has finally given investors an idea of the size and grade of its huge Winu copper-gold deposit in WA’s Eastern Pilbara and reckons it can get a mine underway by 2023.
Read MorePerfect Storm Sends Gold Price To Record High
For a variety of reasons, gold hit a series of highs on Monday across trading in Asia, Europe, and the US where it settled at an all-time record level. While Wall Street ended in the green on Monday, gold held centre stage.
Read MoreKaroon Finds Silver Lining In Oil Slump
COVID-19 and the crash in global oil and gas prices have helped at least one local energy company. Karoon Energy shares jumped sharply yesterday after it revealed better terms to buy a Brazilian oil field than those originally announced.
Read MoreGold Eyes 9-Year Record, Oil Treads Water
Gold is poised to crack the $US1,900 an ounce level this week for the first time in almost 9 years. That was after Comex futures posted another record settlement on Friday, along with the strongest weekly performance since early April.
Read MoreCracks Appearing – Diversify With Silver
Silver is enjoying all the tailwinds gold prices are but just with a significant lag and even the run up in 2010 just shows how rapidly and just how far silver can run.
Read MoreSantos Revenue Tanks Despite Record Production
Santos has reported an 18% drop in second-quarter revenue due to lower its oil and gas prices following the massive collapse in April and fitful recovery since then. That was despite record production of 20.6 million barrels of oil equivalent (mmboe) in the June quarter, up from 18.6 mmboe June quarter of last year.
Read MoreResolute On Track To Meet Production Guidance
Gold miner Resolute Mining jumped more than 12% yesterday in the wake of a rise in the gold price and on news that it is on track to meet production guidance.
Read MoreOz Minerals In A Sweet Spot As Higher Prices Meet Production Ramp Up
Shares in OZ Minerals jumped sharply yesterday in the wake of another rise in gold and copper prices on world markets and a good June quarter and half year production and sales update that saw full-year guidance surprisingly lifted.
Read MoreHow To Benefit From The Big US Infrastructure Push
Ahead of the Herd’s Rick Mills notes that while Trump’s and Biden’s infrastructure policies are very different, both increase demand for copper, silver and gold.
Read MoreBHP Delivers Record Iron Ore Output But Energy Writedowns Loom
BHP has reported its biggest-ever quarterly output of iron ore from its Western Australian mines, but while its copper business was ok, the oil and gas division fell short of expectations thanks to the impact of coronavirus pandemic cutting demand.
Read MoreEnergy M&A Activity Heats Up As Chevron Pounces On Noble
US oil and gas giant, Chevron has launched the first major corporate play since prices slumped in the face of the COVID-19 pandemic with a $US19 billion agreed acquisition of smaller rival, Noble Energy.
Read MoreUranium Week: US Uranium Reserve In Question
The spot uranium price fell incrementally last week for the eighth straight week, as Congress holds up a planned US strategic reserve.
Read MoreNorwegian Sovereign Wealth Fund Emerges On BHP Register
In what is now probably the largest single portfolio investment in an Australian company, Norway’s sovereign wealth fund has emerged as the owner of 5.1% of BHP Plc’s shares.
Read MoreOPEC Cuts Fail To Spark Oil, Gold Records Sixth Weekly Gain
Oil futures fell on Friday, gold futures rose notching up a sixth weekly gain in a row, while iron ore prices ended last week up $US4 a tonne or just under 4%.
Read MoreSolid Half Puts Rio Tinto On Track To Meet Iron Ore Guidance
Shares in Rio Tinto have edged higher after it revealed a solid quarterly and half-year performance for its key Pilbara iron ore business.
Read MoreMoora Results Roar For Liontown Resources
The latest results at Moora are considered by LTR’s geological team to be exceptional for this early stage of exploration. They have expanded previously-identified strong gold, PGE, nickel and copper anomalism, as well as defining a number of new targets, which has further enhanced the project’s potential and helped pave the way for the next phase of exploration.
Read MoreChinese Steel Production Powers On
Chinese crude steel production was maintained at record levels in June, helping explain the continued strength in iron ore imports and prices.
Read MorePrice Pressures Persist For Whitehaven Coal
While Whitehaven beat forecasts by posting a 29% jump in fourth-quarter coal production, the miner has warned that pricing pressure is likely to continue as the COVID-19 pandemic dents demand for steel making and power generating coal types.
Read MoreOrigin Energy Joins Energy Peers With Widespread Writedowns
Origin Energy has joined the growing list of energy companies writing down the value of their assets because they have been forced to slash future projections for prices.
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