Friday, December 27

Tag: basic materials

Why Gold Prices Are Hitting Records
6Dec By adminNo Comments
World

Why Gold Prices Are Hitting Records

The prospect that interest rates might have peaked is powering gold prices to record highs. Futures for delivery of gold in December settled at $2,071 a troy ounce Friday, topping their previous high of $2051.50 an ounce hit in August 2020. Gold has advanced for seven of the past eight weeks, bringing its gain this year to 11%. That puts futures on track for their best annual performance since 2020, when Covid-19 crashed the economy and lifted the precious metal 24%. Futures fell 2.3% to $2024.10 on Monday. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Rio Tinto Estimates $6.2 Billion Spend on Simandou Project
5Dec By adminNo Comments
World

Rio Tinto Estimates $6.2 Billion Spend on Simandou Project

Rio Tinto said Wednesday it expects to spend roughly $6.2 billion to develop its share of the Simandou iron ore project in Guinea.The iron ore buried in Guinea’s Simandou mountains is among the world’s largest untapped deposits of the commodity.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Why Gold Prices Are Hitting Records
5Dec By adminNo Comments
Money

Why Gold Prices Are Hitting Records

The prospect that interest rates might have peaked is powering gold prices to record highs. Futures for delivery of gold in December settled at $2,071 a troy ounce Friday, topping their previous high of $2051.50 an ounce hit in August 2020. Gold has advanced for seven of the past eight weeks, bringing its gain this year to 11%. That puts futures on track for their best annual performance since 2020, when Covid-19 crashed the economy and lifted the precious metal 24%. Futures fell 2.3% to $2024.10 on Monday. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Tariffs and the Price of Your Beer
5Dec By adminNo Comments
Business

Tariffs and the Price of Your Beer

President Trump ostensibly waged trade wars to aid American industry, but the evidence is that his tariffs have harmed many U.S. businesses not on his politically favored list. One example is the beverage industry, which has had to swallow the cost of tariffs on aluminum for its cans.New data from Harbor Aluminum, produced for the Beer Institute, shows how these costs have continued to climb. Mr. Trump imposed 10% tariffs on aluminum imports in March 2018, citing dubious national-security concerns. Through September 2023, the U.S. beverage industry paid nearly $2.2 billion in tariff costs, according to the report. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Rising Treasury Yields Pull Stocks Lower
4Dec By adminNo Comments
Money

Rising Treasury Yields Pull Stocks Lower

Updated Dec. 4, 2023 5:30 pm ETStocks, bonds and precious metals retreated Monday, reversing course after markets last week extended a monthlong stretch of gains. Higher bond yields weighed on shares of large technology companies, pressuring the broader stock market. The tech-focused Nasdaq Composite lost 0.8%, and the benchmark S&P 500 dropped 0.5%. The Dow industrials slipped 0.1%, or 41 points, snapping a four-day win streak.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Rising Treasury Yields Pull Stocks Lower
4Dec By adminNo Comments
World

Rising Treasury Yields Pull Stocks Lower

Stocks, bonds and precious metals retreated Monday, reversing course after markets last week extended a monthlong stretch of gains. Higher bond yields weighed on shares of large technology companies, pressuring the broader stock market. The tech-focused Nasdaq Composite lost 0.8%, and the benchmark S&P 500 dropped 0.5%. The Dow industrials slipped 0.1%, or 41 points, snapping a four-day win streak.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Using Keratin Treatments or Hair-Straightening Creams? Research Suggests Potential Cancer Risk.
4Dec By adminNo Comments
World

Using Keratin Treatments or Hair-Straightening Creams? Research Suggests Potential Cancer Risk.

Millions of women are using hair-straightening treatments and products that might be harmful to their health.More research is linking chemicals in these products to an increased risk of uterine, ovarian and breast cancer. Studies also suggest that frequent use of such products can negatively affect puberty and pregnancy. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Investors Lose Legal Bid Against Exchange Over Nickel Market Blowup
29Nov By adminNo Comments
World

Investors Lose Legal Bid Against Exchange Over Nickel Market Blowup

LONDON—The London Metal Exchange chalked up a big victory over investors on Wednesday, when a court said it was within its rights to cancel trades during a high-profile blowup in the nickel market sparked by Russia’s full-scale invasion of Ukraine.The U.K. court rejected claims by activist fund Elliott Investment Management and market maker Jane Street Global Trading that the exchange had overstepped its powers by nixing $12 billion in trades in March last year. Had they won, Elliott and Jane Street planned to claim hundreds of millions of dollars in damages combined in a follow-on trial.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Impala Platinum Says 11 People Died in Shaft Incident
28Nov By adminNo Comments
World

Impala Platinum Says 11 People Died in Shaft Incident

Impala Platinum Holdings said 11 employees died in a shaft incident at its Rustenburg operations in South Africa, with 75 hospitalized, in the worst mining accident for a South African company in 14 years.The precious-metals mining company said Tuesday that the rescue operation is complete and all 86 employees are accounted for.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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