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.
Resource Market News Directory
Iron – Iron ore prices rose 2 percent on Tuesday, thus extending a 6-percent rally that began last Thursday, MINING.com reported.
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.
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 – Bloomberg reported that silver tracked other precious metals down as investors held off in anticipation of an announcement after the FOMC meeting.
Gold – Bloomberg reported that gold is clinging to three-week low as investors await the conclusion of U.S. Federal Reserve meeting.
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 – 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.
Uranium – Platts reported that spot uranium prices are stabilising, reversing earlier declines and hovering closer to $4o/lb.
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.