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Apr 2, 2012

Gold hovers around $1,680 per ounce as dollar rally stalls

NEW YORK/LONDON (Reuters) – Gold prices rose on Monday, firming on technical buying and then seesawing around $1,680 an ounce, buoyed by technical factors and gains in oil and equity markets.

Gold also drew support as the euro retraced early losses after falling to one-month lows against the dollar on weak European manufacturing data.

Mar 30, 2012

Vale, Rio execs say orders books full; supply constrained

NEW YORK (Reuters) – Rio Tinto (RIO.AX: Quote, Profile, Research, Stock Buzz) (RIO.L: Quote, Profile, Research, Stock Buzz) and Vale (VALE5.SA: Quote, Profile, Research, Stock Buzz) executives said their order books were full and showing no signs of easing, but supply will increasingly struggle to keep up with demand.

In interviews this week at the Reuters Global Metals and Mining Summit, chief financial officers of both mining giants said demand for their ores and metals was robust, and expected to stay that way for the long run even in the face of a soft landing in China’s economy.

Mar 28, 2012

Gold retreats from 2-week high after U.S. orders data

NEW YORK/LONDON (Reuters) – Gold prices fell on Wednesday, unwinding the previous day’s advance to a two-week peak, after data showing weaker-than-expected U.S. manufactured goods orders and cautious comments from an ECB official spurred a flurry of selling.

Bullion lost ground with base metals, crude oil, equities and the euro after the report showing a moderate, though disappointing, gain in February U.S. durable goods orders ignited selling.

Mar 26, 2012

Barrick Gold expects strong copper use, healthy prices

By Carole Vaporean

(Reuters) – - Barrick Gold (ABX.TO: Quote, Profile, Research, Stock Buzz) expects copper prices to remain “healthy,” as the mining industry works to meet demand for the industrial metal.

“We think the structural factors in place with demand from China and India and other emerging markets will continue to be a very strong factor for years to come,” Aaron Regent, president and chief executive officer of Toronto-based Barrick Gold told the Reuters Mining Summit on Monday.

Mar 26, 2012

Agnico-Eagle sees $2,000 per ounce gold possible this year

By Carole Vaporean

(Reuters) – Agnico-Eagle Mines Ltd (AEM.TO: Quote, Profile, Research) expects gold can reach $2,000 an ounce this year, propped up by investment demand for the precious metal amid a still weak global economy.

“Can it get to $2,000? Absolutely. Can it do that within the next year? Absolutely,” said Sean Boyd, chief executive officer at the Canadian gold miner, in an interview at the Reuters Mining Summit on Monday.

Mar 26, 2012

Agnico-Eagle sees $2,000/oz gold possible this year

By Carole Vaporean

(Reuters) – Agnico-Eagle Mines Ltd (AEM.TO: Quote, Profile, Research, Stock Buzz) expects gold can reach $2,000 an ounce this year, propped up by investment demand for the precious metal amid a still weak global economy.

“Can it get to $2,000? Absolutely. Can it do that within the next year? Absolutely,” said Sean Boyd, chief executive officer at the Canadian gold miner, in an interview at the Reuters Mining Summit on Monday.

Mar 23, 2012

Century enters power talks in bid to restart smelter

NEW YORK, March 23 (Reuters) – Century Aluminum Co
said on Friday it has resumed talks for a power deal
with Appalachian Power, a unit of American Electric Power Co.
Inc., to supply its Ravenswood, West Virginia aluminum
smelter as it moves closer to restarting the idled plant.

The 170,000-tonne-a-year aluminum plant was shut in 2009 due
to low demand for the metal and falling aluminum prices.

Mar 23, 2012

Miners keep a close eye on China

NEW YORK, March 23 (Reuters) – A warning this week
from BHP Billiton that iron ore demand from
China is flattening spooked metal markets, raising fears the
world’s largest consumer of basic raw materials could be heading
for a downturn after years of stellar growth.

That fear, plus rising costs and volatile markets, will top
the agenda at the Reuters Global Metals and Mining summit next
week when executives from some of the world’s largest miners and
metal producers, including Rio Tinto Mining Ltd, Vale
SA, Posco, Norilsk Nickel UL> and
RUSAL will join Reuters in London, New York, Moscow,
Seoul, Rio de Janeiro and elsewhere to discuss the state of the
industry.

Mar 20, 2012

Gold falls as economic optimism boosts dollar

NEW YORK/LONDON (Reuters) – Gold fell on Tuesday, on track to snap a three-day winning streak, amid selling prompted by lower crude oil and U.S. equity markets and a spate of positive U.S. economic data that eroded hopes of more U.S. monetary easing.

Spot gold narrowed its losses by 1:18 p.m. EDT/5:18 p.m. GMT to $1,652.21 an ounce from $1,660.40 late Monday, having slid by nearly 3 percent so far this month.

Mar 2, 2012

Century, USW healthcare deal paves way for smelter restart

NEW YORK, March 1 (Reuters) – A deal struck by Century
Aluminum Co and the United Steelworkers union to
restore healthcare benefits for retirees of the U.S. aluminum
producer’s Ravenswood, West Virginia smelter could lead to its
restart, the union said.

The healthcare agreement announced late Wednesday will help
to improve relations between management and the unions.
Relations have been strained since the smelter was shuttered two
years ago due to low demand and falling aluminum prices.

    • About Carole

      "Based in New York, I cover all North American commodity markets, with a primary focus on metals and more specifically steel and aluminum. I have also covered economics, international economics, foreign exchange, bonds and stock markets for both TV and Reuters wire."
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