Shanghai Gold Exchange Now The Largest Physical Gold Exchange in The World

Less than 20 years after launching the Shanghai Gold Exchange has become the world’s largest physical gold exchange. This trend is set to continue with two new futures contracts connecting CME Group gold futures to Shanghai Gold Exchange having launched in October.

Nornickel Says Palladium Deficit To Widen With Auto Demand

Nornickel, the world’s largest palladium producer, reported a huge jump in first half profit with higher palladium prices offsetting a decline in nickel, copper and platinum prices. expects a global palladium deficit of 600,000 troy ounces for 2019.

Barrick Gold Higher Production Doubles Profits With Rising Prices

Canadiian miner Barrick Gold Corp, the world’s second-largest gold producer quarterly adjusted profit nearly doubled as gold production rose. $GOLD expects gold production of 5.1 million ounces to 5.6 million ounces. The gold price hit its highest level in six years in June.

Morgan Stanley Rates Gold No. 1 Commodity Pick as Price Hits Six Year High

Morgan Stanley raised their price forecast for gold on Monday night in a note to customers after the metal hit six month highs. The $MS rationale is much like Goldman in March,  higher ETF inflows, geopolitical risk, weaker U.S. dollar and negative real interest rates in Europe.

Newmont Mining Swings to Profit on Steady Gold and Copper Production

Gold and copper producer Newport Mining reported better than expected fourth quarter earnings Thursday with steady gold and copper production and lower operational costs. NEM agreed to acquire Goldcorp (GG) for $10 billion in an all-stock deal last month.

LNG, Iron Ore, Lithium and Gold Revenues Surge in Western Australia

The lift in iron ore prices, liquefied natural gas (LNG) volumes grew and robust gold output proved a boon to Australia’s mining sector’s recovery. Western Australia’s resources sector surged 16% in sales revenue during 2017 to A$108.8 billion.