Brad Gordon, CEO of African Barrick Gold, says weaker gold demand has offset further price rises to the precious metal despite geopolitical tensions.» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Yellen's testimony helped drive down gold on the day, as traders tried to interpret her remarks.
JAKARTA, July 15- Indonesia could terminate Newmont Mining Corp's copper mine contract if the U.S.-based firm does not withdraw a legal challenge to the country's export taxes, a government official said on Tuesday. The firm, along with U.S. miner Freeport-McMoRan Copper& Gold, has halted copper exports for the last six months.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.
Gold prices took a hard fall Monday as the worries that drove prices up last week dissipate and investors push the stock market up. Gold for August delivery sank $30.70, or 2 percent, to settle at $1,306.70 an ounce. Platinum for October sank $20.80 to $1,493.00 an ounce, while palladium for September sank $3.30 to $872.00 an ounce.
NEW YORK— Shares of some top gold companies are down at 1 p.m.:. Barrick Gold Corp. fell$. 38 or 2.0 percent, to $18.91. Newmont Mining Corp. fell$. 57 or 2.2 percent, to $25.36.
Hecla Mining Co. fell$. 09 or 2.6 percent, to $3.36. Pan American Silver Corp. fell$. 33 or 2.1 percent, to $15.28. Silver Standard Resources Inc. fell$. 31 or 3.4 percent, to $8.88.
NEW YORK— Shares of some top gold companies are down at 10 a.m.:. Barrick Gold Corp. fell$. 36 or 1.9 percent, to $18.93. Newmont Mining Corp. fell$. 61 or 2.3 percent, to $25.33.
Hecla Mining Co. fell$. 10 or 2.9 percent, to $3.35. Pan American Silver Corp. fell$. 47 or 3.0 percent, to $15.14. Silver Standard Resources Inc. fell$. 26 or 2.8 percent, to $8.93.
SINGAPORE, July 14- Gold was steady near a four-month high on Monday, supported by safe-haven buying from escalating tensions in the Middle East and lingering worries about Portugal's biggest bank.
*Gaza in focus, less worry over Portugal's Banco Espirito. NEW YORK/ LONDON, July 11- Gold prices were flat on Friday as investors grew less worried about Portugal's top listed bank, but the precious metal notched its sixth straight weekly gain as many remained concerned about violence in the Middle East.
July 11- An official at British platinum refiner Johnson Matthey has become chairman at the London Bullion Market Association as the industry body oversees the overhaul of century-old precious metals pricing systems amid intense regulatory scrutiny.
*Gold miners to return to net hedging in 2014. LONDON, July 11- The gold mining industry is increasing its net hedged position for the first time since 2011 after a plunge in gold prices worried creditors, but a return to selling forward masses of bullion is a distant prospect.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Activity in Gaza drove up gold prices today, but didn't have an impact on oil prices, which fell, in spite of an inventory drawdown.
*Palladium hits new 13-1/ 2 year peak. NEW YORK/ LONDON, July 9- Gold edged higher on Wednesday, holding above $1,320 an ounce, as investors bought into bullion-backed funds anticipating a modest or downbeat assessment of the U.S. economy in Federal Reserve's latest meeting minutes. Palladium rose to a 13-1/ 2 year high for a second day, and platinum rallied too.
*Palladium near highest since 2001. *Gold ticks up as SPDR sees another inflow. SINGAPORE, July 9- Palladium climbed for a 13th session on Wednesday to trade near its highest since 2001 on concerns over supply constraints in major producer South Africa, while strong demand for the metal from the auto industry also underpinned prices.
SINGAPORE, July 9- Palladium climbed for a 13th straight session on Wednesday to trade near its highest since 2001 on concerns over supply constraints in major producer South Africa, amid strong demand for the metal from the auto industry.
*Palladium hits 13- year peak at $873.75/ oz. NEW YORK/ LONDON, July 8- Palladium rose for the 12th straight session to the highest level in more than 13 years on Tuesday, on supply concerns in South Africa, and firm demand in major car making markets China and the United States.
*Palladium hits 13- year peak at $871.80/ oz. LONDON, July 8- Gold steadied on Tuesday as the dollar's recent rally started to fade and investors awaited clearer signs from the U.S.
SINGAPORE, July 8- Gold ticked lower on Tuesday as investors continued to fret over the possibility of an earlier-than-expected hike in U.S. interest rates, while palladium was trading near a 13- year high on supply worries. *Physical demand in top gold consumer Asia has also been weak as the metal is holding above $1,300.
CNBC's Bertha Coombs discusses the day's activity in the commodities markets. Oil was down following the July 4th holiday. Gas was down 1 percent on fears of sluggish demand.