Gold below $1,250/oz on profit booking
Profit booking pulled yellow metal on Monday below psychological mark-$1,250 an ounce. Gold price fell for four weeks in the past five weeks.
Basic Materials
Nestlé Expects Chocolate Demand to Drop as Cocoa Prices Rise
Nestlé warns of potential reduced chocolate consumption due to soaring cocoa costs, which may force price hikes and impact consumer demand.
Gold Production on Pause as Mining Industry Reveals Gold Becomes Difficult to Find
The gold mining industry struggles to ramp up gold production due to declining deposits, financing, and regulatory challenges as gold prices increase...
Interior Construction Firms Accused of Rigging Million-Dollar Tenders; Singaporean Watchdog Issues Legal Notices
Two interior construction firms are accused of rigging million-dollar tenders. A Singaporean competition watchdog shares the details...
Chinese Scientists Develop Cheap Aluminum Alloy with Record Thermal Resistance, Six Times Stronger than Standard Alloys
Chinese scientists at Tianjin University developed a cost-effective aluminum alloy with remarkable strength and heat resistance, revolutionizing aerospace and industrial applications...
China Slams New US Tariffs, Vows to Defend Economic Interests Amid Trade Tensions
Biden imposes extensive tariffs on Chinese imports, including semicond...
UK Faces Crop Shortfall Due to Wet Weather; Bread and Biscuit Price Hikes Expected
The Energy & Climate Intelligence Unit (ECIU) warns of potential price...
Latest News
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India’s gold market is threatened as the government revealed a new jewelry tax regulation, requiring a 1 percent sales tax on gold jewelry. Import taxes has not been changed, even though jewellers hav
Barrick Gold is Facing a $9.3 Million Fine Over Cyanide Spill in Argentina Last Year
Due to a cyanide spill in a mine in Argentina, Canadian-owned Barrick Gold is facing a fine of $9.3 million imposed by the local government. Nine current and former employees are also being held as de
South Africa's Manufacturing and Mining Output Contract, Slow Down Economy Even More
South Africa's output in the manufacturing and mining sector might not be a good sign to start the year right. More mining sites stopped their operations creating illegal mining. The president should
South Africa's Deteriorating Gold Industry and Economy
South Africa's gold industry is degenerating along with its economy. With the shut down of many gold mines, many workers are laid off leaving them no jobs and no food. This forces them to mine illegal
China aims 7% economic growth in 2016
China is targeting seven percent gross domestic product (GDP) growth rate for 2016. The Chinese government is keen on real growth prospects over restructuring exercise this year, while avoiding inflat
Zimbabwe Government Robbed of Wealth, Takes Control of Diamond Mining Fields
The Zimbabwe government will now take control all of the mining fields in the country as the state is being robbed of its wealth. Billions of dollars have been stolen from the nation's treasure chest
China to lay off 6 million state workers
China has decided to layoff millions of workers from 'zombie enterprises' in the next two to three years. For relocating retrenched workers, the government will spend Yuan 100 billion ($15.27 billion)
Israeli investment firms get $665 million in 2016
Israel is witnessing an increasing number of new venture capital (VC) firms coming up. The country registered an inflow of $665 million VC funding during the first two months of the year. Unfazed wit
New policies unveiled to push China's economy
China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for ac
