SHORT SQUEEZE: Gold price spikes $40
A $40 swing in the gold price, wiping out an early morning jobs number sell-off shows short positions at four-month highs could be facing a big squeeze.
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:
Turquoise Hill sinks 26%
The owner of the massive Oyu Tolgoi copper-gold mine in Mongolia is doubling its shares outstanding with a $2.4 billion rights offer.
Molycorp CEO says world needs max three more rare earth mines
Molycorp, Lynas and perhaps one other small player are sufficient to meet light REE demand, while there's room for one or maybe two heavy producers outside China, says outgoing CEO Constantine Karayannopoulos.
China flexes monetary muscle
China’s yuan has overtaken the euro to become the second-most used currency in trade finance.
Iron ore price blasts to 3-month high
Chinese steel mills are humming and rapidly depleting domestic iron ore mines face tough new environment rules from Beijing translating into surging demand for imports.
Gold stocks take another severe beating
The gold price declined more than $30 on Monday, dragging gold mining stocks down with it.
Vale very much still in the running for Simandou
Brazilian giant could end up with half of one of the world's greatest mining prizes.
‘Severe shortage’ pushes India gold premiums back to $130 an ounce
Now that the country's wedding season is in full swing, premiums demanded by Indian gold traders from jewelers are shooting up again.
Taseko files papers to set aside New Prosperity findings
Vancouver-based Taseko Mines is asking a federal court to set aside a panel's findings related to damage to water resources at its New Prosperity copper-gold project in BC.
Zimbabwe’s diamond mineworkers want 250% pay hike
Platinum sector workers will be happy with 208%, while gold miners seek a 150% wage increase. Industry is offering 0.6%.
Top 50 mining companies power through Iran war – up $250 billion in 2026
The world’s 50 biggest mining stocks shrug off global turmoil, hitting a combined $2.4 trillion value in Q1, but the tide did not lift all boats.