Gold price extends loss as US inflation data reinforces Fed caution
Gold snapped nine days of record-breaking gains as underlying US inflation topped forecasts for a second month in February, reinforcing the Fed’s cautious approach to cutting interest rates.
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Copper price gains as traders assess China deflation, Fedspeak
Mining News Pro - Copper futures rose 0.3% to $8,162.50 as of 11:03 a.m. in New York.
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Freeport-McMoRan to slow expansions amid inflation, weak copper prices
Mining News Pro - Copper miner Freeport-McMoRan posted a better-than-expected third-quarter profit on Thursday, but said it would slow expansion plans due to inflation and slumping prices for the red metal used across the global economy.
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Market is mispricing impact of Biden’s Inflation Reduction Act
Mining News Pro - Analysts at Goldman Sachs Group Inc. say that a number of key green sectors remain meaningfully underpriced.
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China’s property pain deflates ‘overhyped’ iron ore market
Mining News Pro - After a bullish start to 2023, iron ore is struggling with the reality that China’s property sector — the steelmaking material’s largest demand driver for two decades — is still far from a robust recovery.
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Botswana mining growth seen flat amid dim diamond outlook
Mining News Pro - Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday.
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Gold price eases from 8-month peak as investors await inflation data
Mining News Pro - Gold halted its latest rally on Wednesday as investors positioned themselves ahead of new US inflation data that could hint at the Federal Reserve’s policy path, with expectations mounting that slower rate hikes are on the horizon.
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Recession risk, stagflation set stage for positive gold performance in 2023
Mining News Pro - It has been a year to forget for gold. The precious metal is closing in on a second consecutive yearly decline, with prices down by $250 an ounce since its March highs as central bankers stepped up their aggressive fight against inflation.
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Gold price hits 4-week high with elections, inflation data in focus
Mining News Pro - Bullion started Tuesday’s session slow and just below the $1,700 an ounce mark, but began to surge when the dollar failed to gather momentum for a rebound.
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Goldman analysts say markets yet to grasp full impact of Inflation Reduction Act
Mining News Pro - ESG investors are missing an array of opportunities created by President Joe Biden’s climate bill, according to analysts at Goldman Sachs Group Inc.
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Gold price slides as hotter US inflation keeps hawkish Fed on track
Mining News Pro - Gold fell the most in almost a month after US inflation data came in hotter than expected, maintaining pressure on the Federal Reserve to keep aggressively raising rates.
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Gold price seen rising above $2,000 on inflation, mining veteran says
Mining News Pro - Gold could rally above $2,000 an ounce next year as inflation remains elevated, underpinning support for the metal often viewed as a traditional hedge against price pressures, an industry veteran said.
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Gold price set for fourth weekly gain amid easing inflation, Fed speak
Mining News Pro - Gold headed for its fourth straight weekly gain as traders weighed further signs of easing inflationary pressures and hawkish remarks by Federal Reserve officials.
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Gold slips as traders weigh fed rate path over easing inflation
Mining News Pro - Gold gave up early gains with the dollar paring most losses as traders assessed the Federal Reserve’s path of monetary tightening after another report showed US inflation is easing.
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Copper price near 6-week high on softer than expected US inflation
Mining News Pro - The copper price rose on Thursday to the highest in nearly six weeks, helped by easing demand worries after US inflation data came in softer than expected.
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Barrick Gold boss tells miners to brace for more inflation
Mining News Pro - Barrick Gold Corp. boss Mark Bristow is sticking with his cost guidance for now, despite inflationary headwinds at mines around the world, but said the idea that industry costs have peaked is “wishful thinking.”
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Fortescue raises annual shipments forecast amid inflation pain
Mining News Pro - Australia’s Fortescue Metals Group forecast higher iron ore shipments for the next fiscal year on hopes of a stronger performance at its Eliwana project, and logged record quarterly shipments despite a tight labour market and increased costs.
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Vale earnings disappoint as miners grapple with stagflation
Mining News Pro - Vale SA struggled more than expected with deteriorating iron ore conditions last quarter, delivering earnings that trailed estimates on rising costs and weaker prices of the steelmaking ingredient.
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Newmont warns inflation to spike costs in 2023
Mining News Pro - Newmont Corp on Monday raised its annual cost forecast and warned that inflationary pressures would persist into 2023 after its second-quarter profit missed Street estimates, sending the world’s biggest gold miner’s shares down 12%.
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Gold price steady as traders weigh drops in ETFs, inflation, dollar
Mining News Pro - Gold held near an 11-month low as investors weighed a prolonged decline in holdings of bullion-backed exchange traded funds and the dollar’s recent bout of weakness.
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Tianqi Lithium ends flat in biggest Hong Kong debut of 2022
Mining News Pro - Tianqi Lithium Corp. ended flat in its debut in Hong Kong, following the largest share sale in the Asian financial hub this year.
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Gold price wanes in run-up to US inflation data release
Mining News Pro - Gold prices retreated on Thursday as elevated Treasury yields and a firm dollar dimmed its appeal in the run-up to the latest US inflation data, which could strengthen the Federal Reserve’s case for aggressive policy tightening.
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Iron ore price rises despite flat demand from steelmakers
Mining News Pro - The iron ore price rose on Tuesday despite traders fretting about high prices squeezing steel mill margins after Chinese demand for the steelmaking ingredient spurred an earlier rally.
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Visit: 584
Legendary lithium riches from Bolivia’s salt flats may still just be a mirage
Mining News Pro - On Bolivia’s Salar de Uyuni, a vast white salt flat that feels almost otherworldly, Karina Quispe is watching from the sidelines a global resource race for the world’s largest – and almost untapped – trove of battery metal lithium.
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Gold price moves higher after US inflation report
Mining News Pro - Gold climbed higher on Wednesday after hotter-than-expected US inflation fueled expectations that the Federal Reserve will maintain a path of aggressive interest-rate hikes.
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Visit: 427