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MTS Gold Morning News 20190227
27 Feb 2019
· Palladium surged to a record high on Tuesday, rising above $1,550, as the threat of strikes in the South African mining industry aggravated supply concerns in an already tight market, while gold prices were firm on a subdued dollar.
Spot palladium, which rose to as high as $1,553 per ounce, was up 0.7 percent at $1,552 as of 0128 GMT.
· Spot gold was flat at $1,327.40 per ounce, while U.S. gold futures were steady at $1,329.9 per ounce.
· At least 15 mining firms in South Africa have received notices of strikes to be held this week in support of colleagues at Sibanye-Stillwater who downed tools over wages and job cuts, Minerals Council South Africa said.
· The dollar index was little changed at 96.381 against major currencies.
· Trump said on Monday he may soon sign a deal to end a trade war with Chinese President Xi Jinping if their countries can bridge remaining differences, saying negotiators were "very, very close" to a deal.
However, he also sounded a note of caution, when he said a deal "could happen fairly soon, or it might not happen at all."
· Asian shares paused at a five-month peak on signs Washington and Beijing were making progress on a trade deal.
· British Prime Minister Theresa May is considering a plan to delay Brexit to ensure the U.K. does not leave the European Union without a deal, Bloomberg reported on Monday, citing people familiar with the situation.
· Trump headed for Vietnam on Monday for a second summit with Kim Jong Un, having stressed the benefits to Pyongyang if the North Korean leader gives up his nuclear weapons, but saying there was no rush.
· SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.15 percent to 788.33 tonnes on Monday from 789.51 tonnes on Friday.
Reference: CNBC
Spot palladium, which rose to as high as $1,553 per ounce, was up 0.7 percent at $1,552 as of 0128 GMT.
· Spot gold was flat at $1,327.40 per ounce, while U.S. gold futures were steady at $1,329.9 per ounce.
· At least 15 mining firms in South Africa have received notices of strikes to be held this week in support of colleagues at Sibanye-Stillwater who downed tools over wages and job cuts, Minerals Council South Africa said.
· The dollar index was little changed at 96.381 against major currencies.
· Trump said on Monday he may soon sign a deal to end a trade war with Chinese President Xi Jinping if their countries can bridge remaining differences, saying negotiators were "very, very close" to a deal.
However, he also sounded a note of caution, when he said a deal "could happen fairly soon, or it might not happen at all."
· Asian shares paused at a five-month peak on signs Washington and Beijing were making progress on a trade deal.
· British Prime Minister Theresa May is considering a plan to delay Brexit to ensure the U.K. does not leave the European Union without a deal, Bloomberg reported on Monday, citing people familiar with the situation.
· Trump headed for Vietnam on Monday for a second summit with Kim Jong Un, having stressed the benefits to Pyongyang if the North Korean leader gives up his nuclear weapons, but saying there was no rush.
· SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.15 percent to 788.33 tonnes on Monday from 789.51 tonnes on Friday.
Reference: CNBC
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