Gold Up on Fed Stimulus Hints
Gold – Reuters reported that gold was up on Thursday following a Fed policy meeting which hinted at another round of stimulus in the near future. Gold is up 3 percent on the week so far, at $1,663.80.
Articles Tagged "stimulus package"
Politics & Palladium: Showtime!
Political wrangling over the General Motor bailout could well be the silver lining for Stillwater Mining Co. Other automakers continue to use palladium, thereby ensuring higher prices. The $58 billion federal rescue of General Motors has got the US platinum-group metals (PGMs) producer Stillwater Mining, which had lost its sales contract under the GM bankruptcy [...]
Fluctuating Fortunes
Iron Investing News reports spot price for iron have been fluctuating and some companies are taking advantage of it. In the meantime, the trio – Rio Tinto, Brazil’s Vale and BHP have been taking advantage of spot prices in iron, which have been on the way down because of China’s growing steel glut, though still well [...]
G20 leaders’ support promise spurs nickel
Nickel Investing News reports nickel price spurs with G20 leaders’ support for the global economy. LME base metals posted gains across the board, with nickel leading the way, up 12.7 per cent. The impetus was a direct reflection of sentiment, but lacked a change in underlying supply-demand fundamentals. The sentiment adjustment also induced a short-covering [...]
Nickel’s near term outlook bleak
Nickel Investing News reports nickel prices aren’t shining in the near term and has fallen over 80%. Nickel futures declined this week on the MCX. The most actively trading, the nickel March contract, is trading down 1.58 per cent against its earlier close of Rs 505. Nickel April contract is trading lower by 1.41 per [...]
Tin set to shine – early signs of summer?
Tin Investing News reports since commodity prices continue to drop, China is stockpiling metals. Chenzhou authorities were planning to buy 2,000 tons of silver, 50,000 tons of lead, 5,000 tons of tin, 50,000 tons of zinc, 5,000 tons of tungsten and 3,000 tons of bismuth this year. Chenzhou is known to be rich in nonferrous [...]
Uptick from China bolsters hope for Iron
Iron Investing News reports iron-ore miners are looking for a price rise. The miners, which only a month ago were hoping to avoid a decline and keep prices flat, say a recent uptick in demand from China may signal that the market has bottomed out. They also note that spot prices have inched up since late [...]
Time for good gold pickings
Gold Investing News reports gold prices fell slightly with the huge US stimulus package. Gold fell for a third straight day after US policy makers reassured investors that the economy would recover from the recession. “People have been buying gold on economic Armageddon, so to see Obama and Bernanke paint a rosier picture, I’m not [...]
Gold steams ahead as bailouts go global
Gold Investing News reports gold is looking brighter despite the global economic crisis and bail-out. On the stock markets, gold climbed overnight and ended $12 higher. Gold was as much as 2 per cent higher on Thursday after the European Central Bank left interest rates on hold and the Bank of England cut its key [...]
“Buy American”, a NAFTA violation?
Iron Investing News reports the US $19 billion stimulus package proposed by President Obama carries a “buy American” protectionist measure. There are fears that the proposed protectionist measures could essentially create a trade barrier against Canada’s iron and steel exports to the U.S. On Thursday, the House passed the stimulus plan with an attached provision that [...]
