Concerns over EU Economy Grow as Greece Elects Anti-Austerity Government News for the week was dominated by the election of the left-wing Syriza party in Greece, whose election platform centred on anti-austerity rhetoric, concerning EU leaders. It was a decisive victory for the hardline party, falling just two seats short of an outright majority; shortly… Continue Reading
Gold Touches $1,300 Barrier as Canada Cuts Interest Rate Gold continued its rise during the week (up 1%), briefly breaching the $1,300 per ounce mark before settling at $1,293 per ounce on Friday, this coincided with the Bank of Canada unexpectedly lowering its key interest rate by 25 basis points to 0.75, which follows a… Continue Reading
Gold/Silver Prices Continue To Surge While Base Metals Continue To Stumble There is a sense of déjà vu for early 2015, where the rise in precious metal prices reflects the early year surge experienced in 2014. In January last year, the price of gold rose 3.5% during the month, after falling 28% during the 2013… Continue Reading
Gold Price/Mining Equities Surge in New Year The New Year has begun on a positive note, with both the gold price and mining equities gaining ground after what was a tumultuous 2014. The gold price and mining equities surged on the back of slightly negative factory data from the U.S., although other macroeconomic indicators, including… Continue Reading
Political Maneuvers Capture Headlines This Week – Zambia and Cuba This week was highlighted by a slew of political headlines from various jurisdictions related to policy shift or regulatory change, each having implications for it’s respective domestic mining sector. Zambia was the latest Nation to move to increase its revenue streams from domestic resources mining,… Continue Reading
Oil Price/Equities Tumble Further as U.S. Economy Surges The price of WTI crude and light crude dropped below the US$60 per barrel support level during the week, with WTI crude finishing at US$57.48 (down 14%) per barrel on Friday. The price of WTI crude has dropped >40% since June, as a supply glut continues to… Continue Reading
No Respite: Metal/Oil Prices Tumble Further This week’s market headlines were dominated by the dramatic fall in oil prices after the OPEC refrained from lowering production limits of crude oil. Already under pressure, WTI crude fell to US$66 (down 14%) per barrel after Friday market close. Precious and base metal prices followed a similar… Continue Reading
China Interest Rate Cut Sends Mining Equities/Commodities Higher Mining equities and commodities were on Friday after China cut its interest rate for the first time in over two years, and European Central Bank (ECB) President Mario Draghi reiterated the banks readiness to expand its stimulus program. The cut in interest rates in China was… Continue Reading
