NEW YORK/ LONDON, May 9- Gold edged lower on Thursday on the dollar's rally and encouraging U.S. job data, but decent physical demand and gains in platinum group metals and agricultural commodities helped lift bullion from early lows. Palladium rose nearly 3 percent on buying ahead of major wage talks between South Africa's major mining unions and PGM producers.» Read More
Alison Turner, mining analyst at Panmure Gordon & Co, told CNBC, Lonmin provides an excellent opportunity for long-term investors to get in at the current price.
Robert Besseling, senior Africa forecaster at Exclusive Analysis, told CNBC, unions have completely lost control of the situation at the Lonmin mine which could lead to an extended period of industrial action and violence.
Platinum continues to escalate on South African unrest, and stimulus hopes in the U.S. are driving gold prices higher, reports CNBC's Sharon Epperson.
One of the world’s largest mining groups, Anglo American, could see its platinum production also affected by striking workers, according to trading company Vincom Commodities.
Anil Kumar, group president at Vincom Commodities, told CNBC, if Anglo American gets sucked up into this problem and 40 percent of the world's production suddenly can't deliver, then the price of platinum could shoot up.
Gold closes above $1,640 per ounce, and platinum hit its highest level since early May, mostly due to unrest in Africa, reports CNBC's Jackie DeAngelis.
Robert Bessling, senior Africa forecaster at Exclusive Analysis, told CNBC, we have warned our clients of contagion risks to other platinum mines, the radical AMCU union has already recruited at these mines and there is a rising probability of violence erupting there too.
More than thirty people have been shot and killed after South African police opened fire on a crowd of striking workers at Lonmin Platinum mine. Catherine Boyle has more.
Gold traders seem to be a bit cautious as they look ahead to the Greek elections and the FOMC meeting next week, reports CNBC's Sharon Epperson.
Gold hovers under $1,600 at the close, with CNBC's Sharon Epperson.
Schlomo Tidhar, CEO, Singapore Diamond Exchange says investments in diamonds are less volatile than equities or precious metals like gold and platinum.
Suki Cooper, commodities analyst at Barclays Capital, discusses the direction of gold prices on the back of European contagion fears.
Palladium raced ahead of all other metals in April. After climbing double digits in the first quarter, platinum and silver futures were down 4 and 5 percent, respectively. Both metals lost ground for the second consecutive month. Copper prices were flat, and gold seems to have lost its luster, posting its third straight monthly decline.
Nick Trevethan, Senior Commodities Strategist, ANZ Research says gold prices have proven to be remarkably resilient, holding around $1,630.
Dominic Schnider, Head Commodity Research, UBS Wealth Management sees risks for base metals to weaken in the short run due to less imports from China.
Gold gets all the headlines, but platinum is a better bet to put precious metals in your portfolio, Patrick Armstrong of Armstrong Investment Managers told CNBC.
There may be no better way to appreciate the diversity of exchange traded funds than by looking at the commodities sector of the asset class.
In targeting the most promising subsectors or individual commodities, consider platinum, palladium, copper and corn.
Gold prices moved higher today along with the euro as investors cheered a tighter fiscal pact from the EU. Should you get in on the metal mania? Jeffrey Christian, CPM Group, and Jim Steel, HSBC, discuss.
ETF fund flows in 2011 showed that commodities saw outflows of $2.6 billion. Will Rhind, ETF Securities, discusses where the money is going into commodities right now, with CNBC's Bob Pisani.