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PRECIOUS METALS HIGHLIGHTS: Top Stories Of The Day

260 days ago
SINGAPORE (Dow Jones)--Platinum prices are unlikely to break above the $1,000 to $1,200 range until the fourth quarter at the earliest, despite strong demand from China and a weaker U.S. dollar, Standard Chartered said in a report dated Friday.

JOHANNESBURG (Dow Jones)--AngloGold Ashanti Ltd. (AU), Africa's largest producer of the precious metal, Saturday said it has suspended operations at its Savuka mine following a series of earth tremors during which a worker was killed.

BUENOS AIRES (Dow Jones)--Aquiline Resources Inc. (AQI) may be sitting on a potentially rich silver mine in Argentina's Chubut Province, but that's all it can do for now.

MUMBAI (Dow Jones)--The rally in Indian stock prices since early March has spooked investment interest in gold in the world's largest market for the yellow metal.

LIMA (Dow Jones)--Peru's mining and energy minister said Friday that he will meet with leaders of the National Mining, Metallurgical and Steelworkers Federation on Saturday, aiming to ward off a planned June 15 strike by the miners.

Gold futures extended their recent rally Friday as the U.S. dollar remained on the defensive, enabling the metal to hit a roughly two-month high despite some of the profit-taking by longs ahead of a three-day U.S. Memorial Day holiday weekend.

LONDON (Dow Jones)--Spot gold held just below a two-month high Friday in Europe, and after the surge Thursday market participants said the precious metal could attract some profit taking before targeting its all-time high later in the year.

SYDNEY (Dow Jones)--Spot gold is well-placed for further gains on the back of dollar weakness following another steep rally overnight, but bullion may face profit-taking from short-term players ahead of the weekend, traders and analysts said Friday.

-By Elisabeth Behrmann, Dow Jones Newswires; 61-2-8272-4689 elisabeth.behrmann@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=LYvec0BNYdh%2B3mZJ%2BqTa8g%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

May 25, 2009 00:41 ET (04:41 GMT)
 
   TOP STORIES: 
 
Platinum Cap At $1,200 Despite China Retail Demand -StanChart 
 
AngloGold Suspends Savuka Mine After Seismic Events Kill One 
 
Aquiline's Navidad Silver Mine Remains In Legal Limbo 
 
   STORIES OF INTEREST: 
 
FOCUS: Rising Stocks, High Prices Dent Gold Demand In India 
 
Peru Mines Min Aims To Ward Off Jun Strike;Meets Sat With Union 
 
   MARKETS: 
 
PRECIOUS METALS: Further Dollar Weakness Lifts Comex Gold 
 
PRECIOUS METALS: Spot Gold Near 2-Month High, Eyes ETF Flows 
 
Spot Gold Well Placed For Gains; Profit-Taking Looms 


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