Category: Precious Metals
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Isn’t that precious? Platinum hits high
Asia drives rally; platinum at 26-year high; palladium hits a 17-month mark, gold and silver follow. NEW YORK (Reuters) – New York platinum futures stormed to a new 26-year high Thursday morning on the third day of speculative and trade buying, while palladium hit a 17-month peak and gold and silver reached 10-day highs. Dealers…
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Dubai still enhancing its gold market position
By Rhona O’Connell – LONDON (Mineweb.com) — Dubai is continuing its relentless march into the centre of the bullion market, with plans to start futures trading in the precious metals and other innovations proving successful. Dubai is rightly known as the hub of the physical gold market, feeding both to the Indian sub-Continent and to…
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CPM: Gold landscape radically altered
By Dorothy Kosich – RENO–(Mineweb.com) The “2005 Gold Survey” unveiled Tuesday by the New York-based CPM Group has concluded that several significant developments “have come together over the past year and a half to radically alter the gold landscape.” CPM found that gold mine production and average cash costs will continue to increase, the price…
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Ibbotson study determines diversification benefits of precious metals bullion
TORONTO, June 30 /CNW/ – A study prepared for Bullion Marketing Services Inc. by Ibbotson Associates has determined that the addition of precious metals bullion to a portfolio of traditional asset classes enhanced diversification and improved the reward-to-risk ratio in conservative, moderate and aggressive asset allocations. Since an investment in commodity-related stocks does not provide…
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Glittering future predicted for Dubai gold exchange
Dubai: The Dubai Gold and Commodities Exchange (DGCX), which is expected to go live this year, will float a fully owned subsidiary to carry out the settlement of trades on the exchange. David Rutledge, chief executive officer of the Dubai Metals and Commodities Centre (DMCC), said the new clearing house being established by DGCX will…
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Bullion Tame as Oil-Gold Ratio Hits 3-Decade High
NEW YORK – The ratio of oil-to-gold prices spiked to a 29-year peak in March reflecting the persistent divergence in the fortunes of the two resources. The ratio has been steadily ascending since September 2003 with only a brief interruption last November, and reached an all-time daily high of 0.135 on 4 April when oil…
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The Gabelli Global Gold, Natural Resources & Income Trust IPO Raises $332 Million
RYE, N.Y.- March 29, 2005–Gabelli Asset Management Inc., (NYSE:GBL) today announced the initial public offering of common shares of the Gabelli Global Gold, Natural Resources & Income Trust, a new closed-end fund investing primarily in equity securities of gold and natural resources companies. The Fund intends to earn income primarily through a strategy of writing…
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Goldcorp Delivers First ‘Campaign Promises’ Quickly
By Tim Wood – ST. LOUIS (ResourceInvestor.com) — Goldcorp’s [GG] newly minted president and chief executive, Ian Telfer, is holding to his publicly announced playbook with the $70 million cash acquisition of the Bermejal gold deposit in Mexico. Despite Telfer flagging his ‘new’ strategy repeatedly even before the Goldcorp-Wheaton deal, many investors thought the newly…
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Fund interest keeps red-hot metals near highs
SINGAPORE – Industrial metals traded close to multi-year highs on Thursday as funds flocked to red-hot commodity markets and a bruised U.S. dollar made copper a more attractive buy for overseas investors. Star performer zinc, up more than 12 percent since the start of the year, traded around a 7-1/4-year peak and copper crept $10…