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Peter Hobson

METALS-Copper rebounds, shrugs off deepening U.S.-China trade row

Sep 18 2018

LONDON, Sept 18 Copper prices rallied on Tuesday as investors shrugged off new tit-for-tat tariffs by China and the United States to send stock markets higher and the dollar lower.

METALS-Copper prices fall on Chinese demand fears

Sep 14 2018

LONDON, Sept 14 Copper prices fell on Friday as data in China pointing to a cooling economy and a worsening trade dispute between Washington and Beijing raised concerns that Chinese demand for metals would fall more than expected.

PRECIOUS-Gold inches higher as Brexit hopes boost sterling and the euro

Sep 10 2018

* Brexit deal "realistic in six to eight weeks" -EU negotiator

Gold edges higher as Brexit hopes boost sterling and the euro

Sep 10 2018

LONDON Gold prices edged higher on Monday as hopes of a swift Brexit deal boosted sterling and the euro against the dollar, making bullion cheaper for buyers in Britain and the euro zone.

METALS-Trade war fears push copper towards second weekly loss

Sep 07 2018

* Investors fear tariffs will hurt growth, metals demand (Updates with closing prices)

Platinum market set for second consecutive surplus in 2018 - WPIC

Sep 06 2018

* Oversupply seen at 295,000 ounces in 2018 * Supply and demand both to shrink by 2 pct By Peter Hobson LONDON, Sept 6 The global platinum market will be oversupplied by 295,000 ounces this year as both supply and demand of the autocatalyst metal fall by 2 percent, the World Platinum Investment Council (WPIC) said on Thursday. Lower production of diesel vehicles in Europe will cut platinum use by auto makers by 6 percent, outweighing an increase in consumption by industry, the WPIC said in its latest Platinum Quarterly report. Vehicle manufacturers use both platinum and palladium in emissions-cutting catalytic converters, but diesel engines use more platinum, and sales of these have fallen since Volkswagen was found in 2015 to have cheated emissions tests. Supply will also fall due to lower output at mines in key producers South Africa, Zimbabwe and Russia, resulting in a second consecutive global surplus, said the WPIC, which is funded by platinum producers. The second quarter was marked by a sharp fall in investment demand for platinum, as tumbling prices sapped interest in exchange traded funds backed by the metal. But this has already begun to reverse and investment demand is expected to end the year only slightly lower, WPIC director of research Trevor Raymond said. Platinum prices touched their lowest since 2008 in August after falling steadily from January, in part due to concerns of oversupply. PLATINUM SUPPLY/DEMAND ('000 oz)* Q2 2018 Q1 2018 Q2 2017 2018 (f) 2017 Mine supply 1,640 1,295 1,630 6,015 6,170 Recycling 480 455 480 1,895 1,890 TOTAL SUPPLY 2,120 1,750 2,110 7,910 8,060 Automotive demand 800 805 840 3,130 3,340 Jewellery demand 590 605 590 2,445 2,460 Industrial demand 445 465 415 1,790 1,700 Investment -55 50 100 250 265 TOTAL DEMAND 1,780 1,925 1,945 7,615 7,765 Balance 340 -175 165 295 295 Above-ground 2,495 2,200 stocks * Source: World Platinum Investment Council, Platinum Quarterly Q2 2018 (Reporting by Peter Hobson; Editing by Kirsten Donovan)

PRECIOUS-Gold climbs higher as U.S. dollar eases

Sep 05 2018

* Technical indicators suggest prices could rise (Updates prices, headline; adds comment, second byline, NEW YORK to dateline)

Gold inches higher as trade talks lift China's yuan

Aug 20 2018

LONDON Gold prices crept higher on Monday after touching a 19-month low last week as a strengthening currency in China made the metal cheaper for buyers in the world's biggest gold consumer.

PRECIOUS-Gold climbs higher as trade talks lift China's yuan

Aug 20 2018

NEW YORK/LONDON, Aug 20 Gold prices inched higher on Monday after touching a more than 1-1/2 year low last week as China's strengthening currency made the metal cheaper for buyers in the world's biggest gold consumer.

Gold gains, but set for biggest weekly loss in over a year

Aug 17 2018

NEW YORK/LONDON Gold recovered some ground on Friday as a weakening U.S. dollar relieved pressure on prices, but the precious metal remained near 19-month lows and looked poised for its biggest weekly drop since May 2017.

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