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| | Newsletter Brief
| Good morning, Resource Investors. Although gold is off recent highs, it continues to threaten the $1,000 per ounce level, mostly in reaction to the dollar. Moves in the currency drove gold prices early this week, with a strong performance by the greenback on Monday pushing gold lower, and then a weaker U.S. currency on Tuesday fueling a recovery in the yellow metal. Where the gold market trades over the next several days will likely depend on how the current dynamic in the dollar plays out. In base metals, renewed dollar weakness and growing expectations for recovery in the global economy helped push copper to an eight-month high, while aluminum also gained on signs of stronger demand. In terms of hard data, U.S. manufacturing shrank at a slower-than-expected rate in May, while China is starting to see signs of expansion. In the iron ore market, a historic shift is pending that will replace a decades-old OTC contract system driven by a few large miners with a more modern open market. The bull run in crude oil remains in full force, with the commodity reaching well into the $70 per barrel range to kick off the month of June. With a strong technical picture, the only hope bears have is just that – hope, which is what the bulls seem to be trading on right now. While the fundamental argument for higher crude oil prices is a recovering economy, that has yet to be seen in the numbers, which include excessive inventories that could ultimately weigh heavily on the bull run. It's all in these headlines, where you can catch up with what happened in the resource markets this past week -- and prepare for the next.
James Holter
Resource Investor | | | | | Top Stories
| June 08, 2009 - By Jeremy Ascher Crude oil prices continue to climb higher despite any real demand increases on the anticipation of higher consumption down the road.... June 06, 2009 - By Adam Hamilton Fear exploded following the recent epic selloff in the stock market. Now that calmer heads have had time to prevail, here's a look at the aftermath.... June 06, 2009 - By David Coffin and Eric Coffin As credit and markets collapsed during the past year, one of the more common measures cited as a gauge of the disaster was the Baltic Dry Index.... June 06, 2009 - By Keith Schaefer, oilandgas-investments.com Fundamentals suggests that cheap natural gas should be the rule, but where is it? Here's some insight.... June 08, 2009 - By Frank Holmes Economic policy decisions being made in Washington may be increasing the investment appeal of gold-mining stocks.... June 09, 2009 - By Numismaster.com In a turn of events over the past two weeks, the U.S. government's trading partners have lost several skirmishes trying to suppress the spot price of gold.... June 09, 2009 - By San Francisco Chronicle The Nevada Mining Association wants the state to postpone ordering the industry to install additional mercury emissions control equipment.... June 09, 2009 - By Reuters Weakness in the dollar and expectations for U.S. price inflation were seen behind gold's rise today.... June 08, 2009 - By Bloomberg This metals spread should prove predictable when it reaches a key level.... June 08, 2009 - By Reuters August GCQ9 settled down $10.10, at $952.50 an ounce on the COMEX division of the New York Mercantile Exchange.... June 04, 2009 - By Bloomberg Gold prices rose on speculation that the slumping dollar will spur inflation, boosting the appeal of precious metals as a hedge.... June 04, 2009 - By Commodity Online While the production of gold has been slipping, retail investors in India, China and other parts of Asia have been devouring the yellow metal.... June 03, 2009 - By Bloomberg Gold fell the most in almost two months as the rebounding dollar curbed demand for the metal as an alternative investment. Silver also declined.... June 03, 2009 - By The Guardian Investors in silver have reaped glittering rewards in recent months as prices have soared, but a correction may be at hand. Here's why.... June 09, 2009 - By The Globe and Mail Renewed dollar pressure and growing hopes for recovery in the global economy helped drive the price of copper to an eight-month high on Tuesday, while aluminum hit a six-month peak on signs of stronger demand.... June 09, 2009 - By Reuters A new settlement regime for iron ore prices could come sooner rather than later as China, the world's biggest consumer, persists in holding out for price cuts.... June 04, 2009 - By Press Release Inmet Mining Corp. has announced that the first copper cathodes have been produced at the Las Cruces project in Andalucia, Spain.... June 04, 2009 - By Reuters BHP Billito is trying to tempt China's steel sector with index-linked prices for iron ore, a ploy that could shatter a traditional annual pricing system already under strain.... June 03, 2009 - By Asbarez.com The Teghut deposit is estimated to contain 1.6 million tons of copper and about 100,000 tons of molybdenum, but could come at the cost of 357 hectares of forest, including 128,000 trees.... June 03, 2009 - By The Australian Australia's record iron ore exports to China have been driven by speculation and anticipation of demand by steelmakers that has not yet come to pass.... June 08, 2009 - By Press Release One of the world's largest publicly traded, pure molybdenum producers, today announced changes to its 2009 estimates for molybdenum sales, production and costs.... June 06, 2009 - By Press Release Chief Operating Officer Ken Collison will not be moving to Denver with Thompson Creek, one of the world's largest publicly traded pure molybdenum producers.... June 03, 2009 - By Seeking Alpha Despite which one has the attention of mainstream media, the gleam of precious metal exchange-traded funds is less than the shine of industrial metal ETFs, such as copper's.... June 06, 2009 - By CFTC The Commodity Futures Trading Commissions releases information about large trader and institutional positions in the resource commodity markets.... June 04, 2009 - By Reuters One of the world's top producers of coking coal says Chinese coal sales overbooked in second quarter; stock has risen five-fold since March.... | | | | Testimonials
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