Highly prospective exploration company
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
Message: Daily - COMMODITIES - Market & Metal News - Charts
Gold near $1,140 as dollar caps gains
LONDON - Gold held near $1,140 (U.S.) an ounce in Europe on Friday as the upward momentum which has lifted prices more than 9 per cent this month was kept in check by a recovery in the dollar index.
Spot gold was bid at $1,141.00 an ounce at 1004 GMT, against $1,143.50 late in New York on Thursday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange dipped 40 cents to $1,141.50.
But the metal could be poised to break out to new highs if the dollar's recovery falters, analysts said.
"At the moment it looks like gold is awaiting the next big clue for a further push beyond $1,154, as current fundamentals seems to have been totally factored into the price," said Pradeep Unni, senior analyst at Richcomm Global Services.
LONDON - Gold held near $1,140 (U.S.) an ounce in Europe on Friday as the upward momentum which has lifted prices more than 9 per cent this month was kept in check by a recovery in the dollar index.
Spot gold was bid at $1,141.00 an ounce at 1004 GMT, against $1,143.50 late in New York on Thursday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange dipped 40 cents to $1,141.50.
But the metal could be poised to break out to new highs if the dollar's recovery falters, analysts said.
"At the moment it looks like gold is awaiting the next big clue for a further push beyond $1,154, as current fundamentals seems to have been totally factored into the price," said Pradeep Unni, senior analyst at Richcomm Global Services.
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Silver was at $18.29 an ounce against $18.51. Metals consultancy GFMS said on Thursday the metal may rise above $20 an ounce as surging investment more than offsets a drop in fabrication demand.
Platinum was at $1,422.50 an ounce against $1,441.50.
Palladium was at $356.70 against $366.
Fellow platinum group metal rhodium rose to a fresh 13-month high of $2,625 an ounce on Friday, lifted by strong speculative demand in anticipation of a bounce in car sales. Rhodium prices are up by nearly a third this year.
ETF Securities said holdings of its London platinum-backed ETC, ETFS Physical Platinum, rose to a record 421,949 ounces on Thursday, up nearly 6 per cent week-on-week.
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Copper buoyed by demand
LONDON - Copper prices held firm on Friday, buoyed by expectations of stronger demand next year, further investment flows and a weaker U.S. dollar over coming months.
Benchmark copper on the London Metal Exchange was trading at $6,814 (U.S.) a tonne at 1046 GMT compared with $6,790 a tonne at the close on Thursday. The metal used in power and construction earlier this week hit $6,992 a tonne.
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Other Metals
Aluminum was trading at $2,027, little changed from Thursday's $2,031.
Zinc was helped by the threat of falling supplies from China, partly because of a potential shortage of zinc concentrate from Australia.
The metal used to galvanize steel was trading at $2,239 a tonne from $2,215, battery material lead at $2,345 from $2,332, tin at $14,900 from $14,860 and nickel at $16,908 from $16,975.
Nickel prices are down about 25 per cent since hitting a year high in August because of rising stocks of the metal used mainly to make stainless steel.
Stocks are expected to head for historical highs above 150,000 tonnes.
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