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Strong dollar to help gold and ETFs: Adrian Day |
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With gold itself, the weaker dollar does actually have one huge benefit — an obvious one — which is that it makes physical buying of gold actually cheaper. Indian consumption of gold has gone up once gold fell below $850 on a rising dollar |
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Rio Tinto-CCLM Los Andes pact for exploration |
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Rio Tinto has signed two exploration joint venture agreements with CODELCO’s 100% owned subsidiary, CCM Los Andes, in Chile. The new properties to be explored are the Esteli and Paloma prospects in northern Chile. |
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India's gold imports surge 45% in August |
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Fall in gold prices have led to India’s gold imports in August rising by 45 percent compared to the same month last year. In August 2007, the country imported 69 tonnes of told which rose to 100 tonnes this year. |
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Expect explosive growth in precious metals |
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The titans of U.S. finance are on the verge of systemic cross-defaulting. If this happens, it will precipitate an avalanche of U.S. bankruptcies. Investors in mining stocks and precious metals could soon realize explosive growth, Greg McCoach said. |
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Silver Smith to expand training centres in jewellery |
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Silver Smith has decided to open its next centre for jewellery retailing and design at Chandigarh. At present the Company provides educational services from its large and international recognized campus in Noida under the name of JDT |
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Steel prices likely to soften: Paswan |
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Union Steel Minister Ram Vilas Paswan on Monday said a correction in steel prices is likely soon on the back of softening trend in global markets. |
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SAIL's expansion plans to boost capital costs |
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Expansion projects at IISCO Steel Plant, Salem Steel Plant are at various stages of implementation with a project cost of Rs 16,350 cr. Expansion of four four plants – Bhilai, Rourkela, Bokaro, Durgapur are at various stages of tendering.
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Govt to meet steel producers Monday |
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In an attempt to regularize steel prices in the country, the Steel ministry has called a meeting with domestic steel producers on Monday afternoon. |
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ArcelorMittal signs JV to enter China steel market |
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ArcelorMittal, the world's biggest steelmaker and China’s Hunan Valin Group have agreed to set up an electrical steel joint venture in Hunan province.
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Minister requests steel makers to hold price |
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Minister of State for Steel Jitin Prasada on Wednesday requested the steel producers to keep steel price under check and said the steel ministry was aware of the producers' problems. |
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Gold near good entry point for long-term investors |
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Veteran money manager, Frank Barbera believes that we have reached a point where the precious metals are near an important low. However, this is a good opportunity for long-term investors to enter the market and recovery may take four to five weeks. |
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India's mineral output rises 3.45% in May |
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The mineral production from mining and quarrying sector in May 2008 increased by 3.45% as compared to that of the preceding month. Mineral production in May 2008 was also higher by 5.16% compared to the corresponding month of previous year. |
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Only downstream units in steel can create jobs |
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More employment can be generated in steel sector only if more investment comes in downstream industries, according to Buddhadeb Bhattacharya, Chief Minister of West Bengal.
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China may pip India in gems & jewellery trade! |
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China is now emerging as a major threat to India in gem and jewellery trade. The demand for jewellery is increasing in China thanks to the rising disposable incomes raising the prospects of the red republic emerging as a global leader in this sector. |
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Rio Tinto's earnings up on higher production, prices |
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UK-based mining company Rio Tinto has recorded a growth of 55 percent in underlying earnings in first half of 2008 following record production and rise in commodity prices. The company achieved half year production records for various commodities. |
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Power sector leads in investments in H1-2008 |
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Out of Rs. 6,33,906 crore of total corporate announcements made in the first half of calendar year 2008, power sector attracted the maximum number of investment announcements totaling to Rs.1,95,913 crore between January to June 2008 |
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Steel sector demands hike in iron ore export duty |
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India’s steel sector Tuesday reiterated its demand to the government for an increase in export duty on iron ore to 35% from 15% to slow exports and ensure supplies in the domestic market. |
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How India became a major gold consumer? |
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India's love for possessing gold, land or houses could be traced to the banking system of yesteryears when farmers had no access to financial assets for investment and held on to tangible assets. The evolutionary instinct continues for different reaons. |
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Zinc: Production to surpass consumption |
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Zinc, one of the hottest metals globally, is witnessing a peculiar problem. Production of zinc worldwide is project to surpass consumption. Result: zinc prices are falling day by day. |
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Steel is shining thanks to boom in China, India |
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Crude steel production and consumption is rising to record levels thanks to the industrial and construction boom across Asia, especially in China and India. |
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China export tariff policies to hit resource industry |
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China’s recently announced export tariff policies on aluminium and coal might heavily affect resource industry, according to analysts. |
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Gold
