Gold Edges Up to $1,371.60
Gold – Though the policy meeting of the U.S. Federal Reserve is still underway, gold bounced back from yesterday's prices, which were the lowest since May 23.
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Iron Ore Climbs 2 Percent
Iron – Iron ore prices rose 2 percent on Tuesday, thus extending a 6-percent rally that began last Thursday, MINING.com reported.
China to Scrap Iron Ore Import Licensing System
Iron – China is planning to end its decade-old iron ore import licensing system this year, thus cutting costs for steel mills by eliminating middlemen that charge commissions for imports, Reuters said.
Japanese, US Platinum Bar Prices Decline Tuesday
Platinum – MetalMiner reported that Japanese platinum bar prices fell 1.5 percent on Tuesday, while prices for US platinum bars fell 0.8 percent.
Silver Retreats Slightly as Investors Await FOMC Outcome
Silver – Bloomberg reported that silver tracked other precious metals down as investors held off in anticipation of an announcement after the FOMC meeting.
Gold at Lowest Levels Since May 23
Gold – Bloomberg reported that gold is clinging to three-week low as investors await the conclusion of U.S. Federal Reserve meeting.
Copper Holds Steady at $7,005 per tonne
Copper – On the London Metal Exchange, three-month copper was unchanged June 19 from its closing price Tuesday at $7,005 a tonne in official midday rings.
Copper Edges up 0.1 Percent in London, as Investors Await Outcome of FOMC
Copper – Reuters reported that copper crawled upwards on Wednesday, but is staying close in range to six-week lows, as investors were staying on the sidelines in advance of outcome of the FOMC meeting.
Spot Uranium Regains Ground, Stays Closer to $40/lb
Uranium – Platts reported that spot uranium prices are stabilising, reversing earlier declines and hovering closer to $4o/lb.
Researchers Offer Cheaper Alternative to REE`s, for Use in LED Lighting
Rare Earth – Lighting.com reported that academics researchers say that they have created a material that serves as a cheaper alternative to rare earth element phosphors in LED`s.
