Goldman Sachs Mining News

Glencore Asia hires ex-Goldman Sachs oil trader for derivatives desk

Glencore has hired Daniel Liu, a former Singapore-based trading manager at Goldman Sachs, to join its derivatives desk in Singapore.

Goldman warns iron ore's jump into $70s`is not sustainable'

While industry fundamentals have improved, current prices won’t last as more supply is on the way. The bank expects a decline to $60 in six months.

Goldman predicts commodities will soar in 2019 as oil, gold climb

Many of the political uncertainties weighing on commodity markets have a significant chance of being addressed in Buenos Aires.

You can run but you can't hide, CEO tells Goldman analyst

Its an accounting thing.

Goldman says buy commodities as clock ticks toward trade war

Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the U.S. and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted.

Goldman Sachs no longer one of top three commodities banks

Last year Goldman's commodities business posted one of its worst results on record.

Two more directors leave Goldman after trading slump

This leave added to a string of departures by key commodities traders after the Wall Street firm reported a sharp drop in 2017 trading revenue.

Goldman, Citi final bidders for Scotiabank's metals business

The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, has narrowed to two.

Bitcoin frenzy poses no threat to bullion, Goldman Sachs says

While bitcoin has shown greater volatility and lower liquidity compared to gold, the $275bn market value of bitcoin is dwarfed by gold’s $8.3 trillion.

Goldman rains on everyone's parade, says commodities rally won’t last

The recent surge in prices of gold, oil and other commodities has come prematurely, says the bank, arguing that lower prices are needed for markets to rebalance.

Morgan, Sachs, Glencore have lawsuit against zinc price conspiracy dismissed

Two of the largest banks in the world and the biggest commodities trader have been found to be innocent of claims that they fixed zinc prices.

Commodity prices have not bottomed yet — Goldman Sachs

Unless demand picks up or more miners cut output, prices for raw materials are set to stay low for years, or worse, continue to drop, the investment bank predicts.

Goldman Sachs abandons physical commodities after coal division sale

The firm began disposing mining assets last year, as prices for most commodities began a downward trend and U.S. regulators increased pressure on banks to get out of risky businesses.

Bank of America has just dumped coal

The banks is reducing its financing for coal mining projects, which now considers too risky.

Goldman Sachs mulls selling Colombia’s coal mines

The sale would put an end to Goldman’s rocky involvement in raw-materials production.

Goldman Sachs getting out of coal, uranium

Goldman Sachs, the biggest trading firm on Wall Street, will wind down its uranium trading business and may sell its coal mine subsidiary in Colombia, according to a Senate report released last week.

U.S. Senate reveals top banks ‘unfair advantage’ in physical commodities business

The two-year investigation concluded that Goldman Sachs, Morgan Stanley and JP Morgan have been manipulating commodity prices.

Bitcoin not 'likely' to work as a currency – Goldman Sachs report

But could change payments technology.

Ten-year gold bonanza may be over: CMP Group

Gold prices will remain high this year, but are unlikely to rise above the record high reached in 2011, says the latest report by U.S.-based mining consultants CPM Group.