вторник, 27 сентября 2016 г.
Gold settles back, largely unfazed by US presidential debate
Gold bullion prices settled back slightly during Tuesday morning trading in Europe, tracking back from the $1,340 level, while financial markets in general take stock of the outcome of Monday’s US presidential debate.
“Gold dipped as expected on the back of Clinton being seen as victorious,” Alex Thorndike of MKS PAMP said in a note.
This first head-to-head debate between Donald Trump and Hillary Clinton had preoccupied markets, with gold having edged higher on Monday in the run-up to the event. But the debate was largely seen as having gone in favour of Clinton, which defused risk concerns.
Spot gold was indicated at $1,336.80/1,337.10 per ounce, down $1.35 on the previous close, amid some light profit-taking – $1,340 is now becoming intermediate resistance.
Attention will revert now to macroeconomic inputs – the next political debate is not until next week. So far, in economic data, Chinese industrial profit growth increased 19.5 percent year-on-year in August compared with 11 percent in July. This was also the highest rate of growth this year.
Later today, the S&P/CS Composite-20 HPI index, the flash services PMI, CB consumer confidence and the Richmond manufacturing index are due.
In others, silver was indicated at an unchanged $19.43/19.45 per ounce, platinum at $1,041.00/1,045.00, down $1, with palladium also $1 lower at $693/694.
(Additional reporting by Vivian Teo in Singapore, editing by Mark Shaw)
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Sberbank gets international membership at Shanghai Gold Exchange
Sberbank (Switzerland) AG has become an international member of the Shanghai Gold Exchange (SGE), Sberbank CIB, the corporate and investment banking business of Sberbank, said on Tuesday.
The membership will open the opportunity for the company to participate in a greater capacity as a supplier to the world’s largest consumer of gold, Andrey Shemetov, managing director and head of global markets department at Sberbank CIB, said.
“For Sberbank CIB to have access to a market as large as the SGE, which is also a venue that plays such a transformational role in the international precious metal markets, is an important landmark in achieving Sberbank’s ambition to continue to grow its ties with the Chinese market,” he said.
“Sberbank CIB has strong ambitions to further grow its physical precious metals business in Zurich. For this reason, membership of the SGE is a strategic milestone for the business and a significant step in expanding the scope of our own operations,” he added.
Some 50-60 tonnes of bullion are expected to be supplied into the Asian region in 2017, Sberbank CIB forecast.
Commodity trading is one of Sberbank CIB’s strategic pillars and management is committed to making this division a major regional player, it said in the statement, adding that Sberbank CIB is one of the largest operators in the Russian precious metals market.
Since its inception in September 2014, the SGE has gained 66 international members as at the end of August, of which 53 have started trading and 15-20 are active members, SGE chairman Jiao Jinpu, said in a recent industry conference.
(Editing by Mark Shaw)
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Oceanagold says mining continues at Philippine mine, seeks clarification
Oceanagold has not received any formal order from the Philippine government about its Dipidio gold-copper mine and said mining and processing activities there continue.
Earlier today, Australia-listed Oceanagold halted the trading of its shares after Dipidio, on the Philippine island of Luzon, was named in media reports as being suspended by the country’s Department of Environment and Natural Resources (DENR) following the country’s mining audit.
The company is seeking clarification and further details and will consider all avenues – including working collaboratively with the DENR – to facilitate the immediate resolution of the matter to ensure no disruption to its operations, it said.
“We are disappointed with the statements made earlier today and will seek clarification and reconsideration from the DENR to further understand and rectify this matter in short order,” Mick Wilkes, president and CEO of Oceanagold, said, adding that the company has prided itself for being a responsible mining company with a long history of operating to the highest industry standards.
The Philippines has ordered another 20 more mines to be suspended after it released its mining audit results on Tuesday. Only 10 mines – out of 40 in the Philippines – passed the country’s environmental audit. Should the 20 be eventually halted, it will bring total closures to 30, Reuters reported.
The Dipidio mine has capacity of 100,000 ounces per year of gold and 14,000 tonnes per year of copper.
The Philippines’ gold production rose 12 percent to 20.6 tonnes of gold last year, according to data from the Mines & Geosciences Bureau. The country also produced 83,835 tonnes of copper in concentrate, down nine percent on the previous year.
(Editing by Mark Shaw)
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Oceanagold halts shares trading after Philippine project said suspended
Australia-listed Oceanagold has halted the trading of its shares on Tuesday after its Dipidio gold-copper project in the Philippine island of Luzon was named in media reports as being suspended by Filipino authorities.
The trading halt is necessary as the company expects to make an announcement to the market in relation to its Dipidio mine, it said.
The Philippines has ordered another 20 more mines to be suspended after it released its mining audit results on Tuesday. Only ten mines – out of the Philippines’ 40 – had passed the country environmental audit, and should the 20 be eventually halted, it will bring total closures to 30, Reuters reported.
Oceanagold had said in August that it welcomed the mining audit, describing itself as a “‘green, environment-friendly mining company”.
The Dipidio mine can produce 100,000 ounces per year of gold and 14,000 tonnes per year of copper.
The Philippines’ gold production rose 12 percent to 20.6 tonnes of gold last year, according to data from the Mines & Geosciences Bureau. The country also produced 83,835 tonnes of copper in concentrate, down nine percent on the previous year.
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