FridayMar 08, 2024 11:45 am

As Sentiment About Impending Rate Cuts Strengthens, Gold Rises to 3-Month Highs

At the start of this week, the price of gold reached a three-month peak driven by increased bets for an interest rate cut by the Fed come June. Spot gold hit $2,113.3 an ounce, representing a 1.4% increase. This is its highest price since the start of December 2023, when its price reached $2,135.40 an ounce. U.S. gold futures hit $2,126.30 per ounce, a 1.5% increase. This improvement in the precious metal’s price comes after its price recently surged about $50, driven by weak price pressures as well as construction and manufacturing spending. Disappointing economic data also facilitated the surge…

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WednesdayMar 06, 2024 12:15 pm

Traders Say Additional US Sanctions Likely to Hamstring Exports of Russian Coal to India

Traders who deal with coal from Russia believe the new sanctions the United States has imposed on Moscow will likely negatively influence imports of thermal coal from the Eastern European country to India. This, they say, is because the sanctions specifically mention Mechel and SUEK, leading Russian export companies. Mechel is a top producer of specialty steels in Russia and is involved in the manufacture of rolled products from different types of steel. SUEK is a flagship transportation logistics company in Russia that operates its own railway infrastructure. The Russian defense ministry is one of the company’s biggest customers. SUEK…

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MondayMar 04, 2024 12:15 pm

Long Bull Copper Traders Stay on Sidelines as Markets Move Sideways

Funds are struggling to navigate the copper market amid rising volatility, choppy trading patterns and weeks of lackluster performance.  Despite the critical role copper plays in shaping the global trade landscape and its expected role in the nascent green-energy sector, the red metal has been beset by choppy trade patterns. Volatility on the CME copper contract pointed to the challenges the fund faced in its efforts to predict future market movements as the globe transitions to renewable energy and clean technology. With rapid changes between bullish and bearish stances highlighting the difficulties associated with operating in a consistently narrow price…

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MondayMar 04, 2024 9:00 am

Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) Poised to Play an Important Role in Powering the Globe’s Energy Transformation

Nickel demand as a green energy metal is expected to continue growing exponentially over the coming years and decades as the world continues its electrification revolution towards net-zero emissions Nickel is expected to witness continued demand from EV manufacturers, with the average EV containing upwards of 25 kilograms of nickel, as well as many other emerging battery uses and technologies High-grade sulfide nickel deposits are low in carbon intensity and make for cleaner, safer mines than Indonesian or Chinese sources, with carbon emissions 5-10x higher than Canadian high-grade nickel, not to mention many other environmental issues Fathom Nickel are seeking…

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FridayMar 01, 2024 11:00 am

Fury Gold Acquires Newmont’s Eleonore South Project Stake

Canadian miner Fury Gold Mines has purchased Newmont Corporation (NYSE: NEM)’s nearly 50% stake in the Quebec-based Éléonore South project for $2.2 million. The high-grade gold exploration company will spend an additional $960,000 on the acquisition of around 30.4 million Sirios Resources shares held by Newmont as part of Éléonore South’s consolidation. Fury said the acquisition of Sirios shares was for investment purposes and that the company would continually evaluate the investment to determine the feasibility of any additional dispositions or purchases. Newmont recently announced that it was planning to divest six of its noncore properties, including the Yukon Territory-based…

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