Articles by Rebecca Torres
Gold Retreats from Record Highs as Equities Gain; Focus Shifts to US Economic Data
Gold prices declined on Tuesday, pressured by a stronger dollar and rising global stock markets. Traders are awaiting key U.S. employment and inflation reports later this week for direction.
Rio Tinto Shares Retreat as Metals Rally Cools in London Trading
Rio Tinto shares fell 0.5% in early London trade, giving back some of Monday's 3% advance as precious metals prices softened. The mining giant's next earnings report is scheduled for February 19.
Glencore Shares Surge 4.8% on $250M South African Metals Deal Ahead of Earnings
Glencore's stock rebounded sharply in London trading after a subsidiary secured a major prepayment agreement for copper and zinc in South Africa. Investors now await the company's full-year results scheduled for February 18.
South32 Gains as Mozambique Pledges Support for Mozal Smelter
South32 shares rose after Mozambique's energy minister committed to keeping the Mozal aluminium smelter operational. Investors await the company's half-year results on Feb. 12 for further clarity.
Lynas Shares Gain as Rare Earth Prices Reach Multi-Year High, State Street Boosts Stake
Lynas Rare Earths shares advanced 2.2% after neodymium-praseodymium oxide prices in China hit their highest level since mid-2022. State Street Corporation increased its voting power in the company to 9.55%.
Fortescue Retreats as Iron Ore Hovers Near $100, Investors Eye Earnings
Fortescue shares declined 0.96% to A$21.57, giving back some of Monday's gains. Iron ore futures were mixed amid reopened Australian ports and persistent China demand concerns.
PLS Secures Major Lithium Supply Pact with Canmax, Including $100M Prepayment and Price Floor
PLS Group shares gained after announcing a two-year spodumene supply agreement with Canmax Technologies, featuring a US$1,000 per tonne price floor and a US$100 million prepayment. The deal covers 150,000 tonnes annually from 2026.
Chevron Gains in Extended Trading as Oil Rises; Tengiz Field Nears Full Output
Chevron shares advanced 0.9% after hours, tracking a more than 1% climb in crude prices. The company's Tengiz field in Kazakhstan has restored output to about 60% of capacity, targeting full production by February 23.
Natural Gas Futures Plunge on Milder Weather Outlook; Expand Energy Shares Drop After CEO Departure
U.S. natural gas prices tumbled over 8% to a three-week low as forecasts of warmer temperatures threatened heating demand. Separately, leading producer Expand Energy's stock fell sharply after its CEO announced an exit.
Silver Soars on Dollar Weakness as Traders Eye Key U.S. Data
Silver prices surged over 8% Monday as the dollar declined, with traders awaiting delayed U.S. employment and inflation reports later this week.
Gold Surges Past $5,000 as Dollar Weakens Ahead of Key U.S. Economic Data
Gold prices advanced nearly 2% to $5,056 an ounce, supported by a softer U.S. dollar and sustained central bank purchases. Traders await delayed U.S. employment and inflation figures for clues on Federal Reserve policy.
Natural Gas Futures Plunge 8% on Warmer Mid-February Forecast
U.S. natural gas futures tumbled roughly 8% to $3.14/mmBtu as updated weather projections signaled above-average temperatures for mid-February, reducing heating demand.