Gold prices hit by profit taking, stronger dollar
Spot gold was last down $8.40 at $1,254.10 an ounce in New York, having hit a three-day low earlier in the session at $1,251.83 an ounce.
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The overseas unit of China’s largest state-owned copper and zinc producer is the latest victim of a sustained rout in metal prices.
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The rock, discovered by Lucara in Botswana last year, is second in size only to the Cullinan diamond in the British Crown jewels.
Slowing Chinese demand of coal to hurt Mongolia — BMI
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Gold’s best start since 1974 shows not just inflation hedge
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Copper, nickel prices retreat on weak Chinese export data
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Biggest fall in Chinese exports in seven years hits UK mining shares
Official figures released in Beijing showed that exports in February were down 25.4% on a year earlier, the worst performance since May 2009
Vale-Fortescue iron ore pact a win-win deal — analysts
Long-term, the deal could be viewed as the first step of a more disciplined approach to iron ore supply by aligning two of the world’s “big four” producers of the commodity.
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.