Gold/silver ratio jumps, ECB points to deflation risk, as “low-growth outlook” defies central-bank liquidity move
Wholesale prices in the gold investing market continued to rise Thursday morning in London, extending yesterday’s 2.8% jump after the world’s biggest central banks offered unlimited short-term loans to their local banking sectors.
Gold gained above $1,900 an ounce in London as concern about slowing economic growth and Europe’s debt woes spurred demand for a protection of wealth.
Supplies in the U.S. copper scrap market remained tight at the start of the third quarter, as a lingering slump in industrial demolition rates made material, especially higher-grade material, harder to come by.
Lonmin Plc (LMI), the third-largest platinum producer, started a prefeasibility study on a third furnace as part of preparations for possible expansion beyond its current 2015 production target.
Winmar Resources, a company backed by Fortescue Metals chairman Andrew Forrest, is expected to announce today a deal with an Indian iron ore giant that could lead to could lead to further Indian investment in the mining sector.
Click here to read the whole story or read an excerpt below. By Matt Day COPPER futures ended above $US4 a pound today for the first time in more than a week on indications that steep price declines have boosted demand for the industrial metal. The