Heads to roll at Anglo American head offices

The country’s behemoth iron ore miners ended the year on a high as China’s abrupt Covid Zero reversal and a steady stream of supportive policies raised the outlook for demand. 

Bullion has gained nearly $200 after falling to a more than two-year low in late September.

The electric-vehicle maker’s market valuation has shrunk to roughly $372 billion.

China will stop requiring inbound travelers to go into quarantine starting from Jan. 8.

Iron ore futures rose on Tuesday, with the Singapore benchmark price hitting its highest in five months.

Analysts expect the spreading infections to continue curbing industrial activity in China in the near term.

The People's Bank of China on Saturday called for the strengthening of real estate policy in light of sluggish economic growth over the past several years.

"With inflation close to being in line with expectations, gold prices were higher on fresh speculative buying ahead of the new year on bets that the bigger funds might move to the long side of gold."

While some analysts expect the metal to rise towards record highs in 2023, weakening economic growth has pulled prices down 14% this year.