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Wednesday Sector Laggards: Precious Metals, Non-Precious Metals & Non-Metallic Mining Stocks – Nasdaq.com

17 Friday Aug 2018

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stock marketIn trading on Wednesday, precious metals shares were relative laggards, down on the day by about 5.1%. Helping drag down the group were shares of Tanzanian Royalty Exploration ( TRX ), off about 10.3% and shares of Hudbay Minerals ( HBM ) down about 8.6% on the day.

Also lagging the market Wednesday are non-precious metals & non-metallic mining shares, down on the day by about 4.3% as a group, led down by Reto Eco-Solutions ( RETO ), trading lower by about 10.8% and Century Aluminum Company ( CENX ), trading lower by about 10.3%.

Read more Via Wednesday Sector Laggards: Precious Metals, Non-Precious Metals & Non-Metallic Mining Stocks – Nasdaq.com

PRECIOUS-Gold rises as dollar backs off highs after Fed meeting minutes | Reuters

25 Friday May 2018

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Gold nugget

By Renita D. Young and Zandi Shabalala

NEW YORK/LONDON, May 23 (Reuters) – Gold prices rose on
Wednesday as the U.S. dollar backed off its highs against a
basket of currencies while investors interpreted minutes from
the U.S. Federal Reserve’s latest policy meeting as dovish.
Most Federal Reserve policymakers thought it likely another
interest rate increase would be warranted “soon” if the U.S.
economic outlook remains intact, minutes of the central bank’s
last policy meeting showed.
Higher interest rates make non interest-bearing assets like
gold less attractive.

However sentiment was dovish, said Bob Haberkorn, senior
market strategist at RJO Futures. “They’re backing off the
inflation target at 2 percent. Just them saying that signals
that [the Fed is] dovish on rates and it doesn’t sound very
aggressive. That should be supportive for metals.”
Policymakers once again debated the inflation path. Several
noted that recent wage data provided “little evidence” of
overheating in the labor market, while some others saw a risk
that “supply constraints would intensify upward wage and price
pressures, or that financial imbalances could emerge.”
Spot gold gained 0.3 percent at $1,294.19 per ounce
by 2:35 p.m. EDT (1835 GMT), after touching its highest since
May 15 at $1,297.84. U.S. gold futures for June delivery
settled down $2.40, or 0.2 percent, at $1,289.60 per ounce.
The dollar, in which gold and other commodities are priced,
rose versus a basket of currencies but came off its
highs.

Often used to store wealth in times of political or economic
uncertainty, gold was underpinned by safe-haven support after
U.S. President Donald Trump said he was not pleased about recent
talks with China.

Gold also saw some safe-haven support after President Sergio
Mattarella gave political novice Giuseppe Conte a mandate to
lead the first government in Italy made up of anti-establishment
parties that have vowed to shake up the European Union,
Haberkorn added.

Trump also cited a “substantial chance” his summit with
North Korean leader Kim Jong Un will not take place as planned
on June 12 amid concerns that Kim is resistant to giving up his
nuclear weapons.

Gold has shown reduced volatility in the last few trading
sessions as it attempted a break above $1,300 and prices are
“waiting for a new, clear direction,” said ActivTrades chief
analyst Carlo Alberto De Casa.

Silver fell 0.4 percent at $16.45 an ounce and
platinum was 0.2 percent lower at $904.30 an ounce.
Palladium eased 1.2 percent to $979.10 an ounce.

via PRECIOUS-Gold rises as dollar backs off highs after Fed meeting minutes | Reuters

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Your smartphone is a mine of precious metals and elements

20 Friday Apr 2018

Posted by in market, precious metal market, scrap gold

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photo courtesy of samsung.com

Take a good look at your smartphone. From the display and metal casing to the circuit boards that power the device, your phone is a mine of precious metals.

The average smartphone contains small amounts of gold, silver, platinum and palladium. But mining these metals from ore can be arduous; it takes a tonne of ore to get 1g of gold. Stripping them from existing mobile phones is not easy but can yield a surprising amount of material.

Copper and aluminium, typically lower value than precious metals, can also be found in your smartphone, in the casing or the circuit board.

There is more than just precious metals in your smartphone. Rare earth elements can be found in everything from the glass display to magnets in speakers. Despite the name, rare earth elements aren’t actually that scarce; they can be found in the earth’s crust but are difficult to mine. Such elements can include yttrium and gadolinium in the display; neodymium which is often used in headphones or speakers and microphones; lanthanum to make the tiny lens in the camera that much better; and praseodymium, also for headphones.

Lithium triangle

Then you have to look at the battery that powers it. Smartphones predominantly have lithium ion batteries, which require lithium. Extracted from salt lakes, much of it comes from the so-called “lithium triangle” that includes Bolivia, Chile and Argentina.

Cobalt is also used in smartphone batteries. Around half the world’s cobalt comes from the Democratic Republic of Congo in central Africa. It’s essential for lithium-ion batteries, but there are ethical considerations. There is a link between cobalt mining and child labour, and the region is plagued by corruption and conflict.

A considerable amount of the cobalt – about one fifth – in the region is extracted by artisanal miners, who work by hand. The work is hazardous and can have health implications, from lung conditions and breathing issues caused by the dust to a link to premature births and birth defects in miners’ families.

Read more via Your smartphone is a mine of precious metals and elements

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