Jobs drop gold price to 12-week low
Strong payroll numbers add to urgency for a hike in US interest rates making owning zero-yielding gold a less attractive asset.
Strong payroll numbers add to urgency for a hike in US interest rates making owning zero-yielding gold a less attractive asset.
The company had warned it planned to restructure several of its mines, producing almost 25% of its gold, when it posted a third consecutive quarterly loss early May.
We live in an age where bad economic news is not only unwelcome, but it is routinely overlooked or excused.
There is little doubt that as oil prices fall, some people working in that sector will lose their jobs. What is less clear is the impact those job losses will have on other sectors of the economy.
Graphic Products outlines dangers for loggers, fishermen & more
Graphic Products outlines dangers for loggers, fishermen and more.
Korean-owned Harvest Operations Corp. has cut 105 jobs and will delay start-up of its 10,000-barrel-per-day BlackGold thermal oilsands project until benchmark New York oil prices improve to above $60 US per barrel.
Gold up 2% after huge miss on US employment, manufacturing and car sales indicate rate rises may be further out than June.
The company recently announced its intention to merge the copper and coal divisions, reducing Rio's businesses to just four main groups.