Bears wrong-footed by jobs report light fire under gold price
Gold price surges 2.6% in heavy trading as hedge funds with record-breaking bearish bets scramble to cover shorts.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
Rio’s secret weapon for a sub-$40 iron ore price
The price of iron fell again on Thursday stopping barely above $40 a tonne, but Rio's new high-grade Pilbara mine will ensure its costs keep falling.
Newmont shares jump on upbeat forecast
World's number two gold producer forecasts lower costs and "steady profitable production through 2020".
New doubts about Freeport’s Grasberg licence
Amid corruption scandal and contradicting earlier safeguards, Indonesia says won't make a decision on future of giant copper and gold mine until 2019.
West Virginia coal baron guilty of misdemeanour
Ex-Massey Energy boss, Don Blankenship, guilty on lesser count carrying maximum 1 year sentence in case relating to 2010 explosion that killed 29 miners.
De Beers considering Snap Lake closure
Mine in Canadian arctic has never turned a profit.
The iron ore price is in free-fall
Following a heavy selloff in November, iron ore is down another 7% just this week with no support in sight.
Third act for the gold price
Gold price down to February 2010 levels after Fed chair lays ground for first rate hike in nine years.
Brazil mine spill not hazardous to human health
Concentrations of metals in Rio Doce river after catastrophic dam burst "do not significantly differ" from tests by Brazilian Geological Service in 2010.
Hedge funds have never bet this much on a falling gold price
Large scale speculators in gold futures enter unprecedented bearish positioning ahead of first rate hike in nine years.
CHART: Friday massacre for mining stocks but copper price pulls out of nosedive
Historic down day for gold and silver prices caused double digit losses for precious metals stocks but copper miners came off relatively lightly.
