Posts Tagged ‘labor’

Freeport-McMoRan (NYSE:FCX), which operates the world’s largest gold and copper mine in Papua, Indonesia, said that its 4Q net income tumbled to $640 million or 67 cents per share compared with net income of $1.5 billion or $1.63 per share a year ago. Labour problems at its Indonesian mine caused copper and gold production to fall. The company did finish the year up. Full story

Gold gained for the first time in three days after an unexpected rise in U.S. jobless claims spurred demand for the metal as a haven asset. Full story

The good news was that our short trade on the equities market was up 10% from our entry point last week. The bad news was that the stock market overseas was selling off big and so were US stocks. It was a black Monday in both the sky and on the screen… I’m not really sure how many people watch the futures market but I ... Full story

Gold prices push higher as once again the ineptitude of our political masters fails to deliver. German Chancellor Angela Merkel and French President Nicolas Sarkozy had scheduled yet another problem solving high level meeting, out of which their followers expected a stroke of economic genius. Instead the two leaders agreed to try for closer economic integration within the euro zone. Full story

Gold traders saw the precious metal lose over $60 in value today after gold dipped below $1,740 in afternoon trading. Yesteray gold broke through $1,800/oz Full story

Federal authorities have shut down 12 mines in northern Mexico after inspections spurred by an accident last month that claimed the lives of 14 workers, the labor department said. Full story

Traders beware, the dreaded precious-metals summer doldrums are now upon us!  Summers are barren sentiment wastelands for the entire PM complex.  Gold, silver, and the PM stocks tend to grind listlessly sideways to lower, vexing traders who aren’t psychologically prepared to weather this slow season. A variety of factors drive this phenomenon during the financial-market summers, which run from Memorial Day to Labor Day.  The ... Full story

While the stock markets have enjoyed an outstanding busy season, the dreaded summer doldrums are now upon us.  This vacation season usually heralds listlessly-grinding markets, sometimes significant selloffs, and rarely meaningful rallies.  The stock-market technicals heading into summer greatly influence which outcome is most likely in these coming lethargic months. Of course the flagship S&P 500 stock index (SPX) is the best technical proxy for ... Full story

Gold settled at $1428.60 for the week as African and Middle East tensions continue to support the precious metals. The escalating violence in Libya and reports that demonstrations are spreading throughout the Middle East has traders and investors Alike choosing both Gold and Silver as their alternative “safe haven” alternative investment Full story

In the world of precious metals, silver spends a lot of time in the shadow of its big brother gold. Gold, with its high price-to-weight and distinctive yellow tint, has always occupied a special place in the human psyche. Full story