commodities

Sections:

Bitcoin consolidates near $72k, gold hits new record high as U.S. GDP data drops teaser image

Bitcoin consolidates near $72k, gold hits new record high as U.S. GDP data drops

Bitcoin holds above $72k, gold hits a record $2,790/oz as U.S. GDP slows. Resilient jobs data complicates Fed rate decisions, keeping traders engaged.

Alcoa ‘very bullish’ on aluminum for energy transition teaser image

Alcoa ‘very bullish’ on aluminum for energy transition

Gold remains firm even as U.S. pending home sales rise 7.4% in September teaser image

Gold remains firm even as U.S. pending home sales rise 7.4% in September

Botswana’s Debswana diamond sales fall over 50% in first nine months of 2024 teaser image

Botswana’s Debswana diamond sales fall over 50% in first nine months of 2024

Simandou to mine first cargo by end 2025 teaser image

Simandou to mine first cargo by end 2025

Glencore posts lower metals output for first nine months, reiterates outlook teaser image

Glencore posts lower metals output for first nine months, reiterates outlook

Gold price continues to eye $2,800 as U.S. GDP Grew 2.8% in Q3

(Kitco News) - After a solid start in the first half of the year, the U.S. economy is showing signs of cooling as activity slowed more than expected between July and September.

Gold prices holding firm near record highs as ADP says 233K jobs created in October

(Kitco News) - The gold market, while off its overnight highs, remains within striking distance of $2,800 an ounce even as the U.S. labor market remains fairly resilient as private companies created more jobs than expected in October, according to payroll processor ADP.

Better late than never: gold ETF demand returns in Q3

(Kitco News) - In the first half of 2024, the gold market was driven by record central bank demand and unprecedented commercial demand in Asia, specifically China. So far, that initial momentum in the gold market has been maintained as Western investor demand picks up growing slack in other segments of the marketplace, according to the latest report from the World Gold Council (WGC).

Market surge: Bitcoin nears all-time high, Nasdaq and gold set new records teaser image

Market surge: Bitcoin nears all-time high, Nasdaq and gold set new records

Bitcoin nears all-time high above $73k as stocks, gold, and Nasdaq rally; jobs data and Fed rate expectations fuel market optimism amid declining yields and DXY.

Oct 29, 2024 - 5:18 PM

US energy dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine teaser image

US energy dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine

The US Department of Energy finalized a $2.26 billion loan for Lithium Americas on Monday to build Nevada’s Thacker Pass lithium mine, one of Washington’s largest mining industry investments and part of a broader push to boost critical minerals production.The loan, provisionally approved in March, is a key part of US President Joe Biden’s efforts to reduce dependence on lithium supplies from China, the world’s largest processor of the electric vehicle battery metal. Biden officials permitted a similar lithium project under development by ioneer last week.

Oct 29, 2024 - 3:10 PM

Gold’s record prices driven by US election uncertainty teaser image

Gold’s record prices driven by US election uncertainty

(Kitco News) - In one week, Americans will officially head to the polls to elect a new Congress and President. With the polls too close to call in most battleground states, uncertainty continues to surge through financial markets, prompting investors to turn to gold as a reliable safe-haven asset.

Oct 29, 2024 - 1:44 PM

The great currency war: Dollar vs. BRICS and the growing popularity of gold and Bitcoin teaser image

The great currency war: Dollar vs. BRICS and the growing popularity of gold and Bitcoin

Despite BRICS de-dollarization efforts, the U.S. dollar leads global payments, while investors turn to gold and Bitcoin amid rising inflation and economic concerns.

Oct 29, 2024 - 12:56 PM

Gold price powers to new all-time highs ahead of major events teaser image

Gold price powers to new all-time highs ahead of major events

(Kitco News) - Gold and silver prices are solidly higher in early U.S. trading Tuesday, with gold scoring another record high of $2,784.00 an ounce, basis December Comex futures.

Oct 29, 2024 - 12:40 PM

India’s festive gold buying spree continues, defying record price teaser image

India’s festive gold buying spree continues, defying record price

Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters.Robust demand in the world’s second-biggest gold consumer could further support global prices, which hit record highs last week. Rising demand for imports of gold could also widen India’s trade deficit and put pressure on the rupee.

Oct 29, 2024 - 12:19 PM

Australia risks losing top spot in global steel supply chain, Fortescue says teaser image

Australia risks losing top spot in global steel supply chain, Fortescue says

The US Department of Energy finalized a $2.26 billion loan for Lithium Americas on Monday to build Nevada’s Thacker Pass lithium mine, one of Washington’s largest mining industry investments and part of a broader push to boost critical minerals production.The loan, provisionally approved in March, is a key part of US President Joe Biden’s efforts to reduce dependence on lithium supplies from China, the world’s largest processor of the electric vehicle battery metal. Biden officials permitted a similar lithium project under development by ioneer last week.

Oct 29, 2024 - 10:14 AM

Australian rare earths developer ASM eyes US defence funding teaser image

Australian rare earths developer ASM eyes US defence funding

Sydney – Rare earths developer Australian Strategic Materials (ASM) sees more funds becoming available for rare earths projects from the United States Department of Defence even if there is a change in administration, its CEO said on Tuesday.Rare earths have strong magnetic qualities which make them key to applications from smart phones to laser guided missiles. Australia is classified as a domestic supplier to the United States for defence purposes.

Oct 29, 2024 - 10:11 AM

Gold at session highs as U.S. consumer confidence rises to 108.7 in October teaser image

Gold at session highs as U.S. consumer confidence rises to 108.7 in October

(Kitco News) - Gold prices are setting fresh session highs after the latest data showed consumer sentiment in the United States improved beyond expectations.

Oct 29, 2024 - 10:09 AM