Rio Tinto and Glencore spoke for months about deal that was once taboo
The news of Glencore and Rio’s discussions “has turned up the temperature on an already simmering M&A environment,” RBC Capital Markets analyst says.
n a centuries-old gold bazaar, Sanjay Malhotra peers through a magnifying lens at a dull gold necklace resting on a small bed of red velvet. Such old possessions are streaming into his shop of late, a tip-off to a significant change afoot in one of the world’s largest gold markets.
Farmers have been cashing in on gold’s soaring price—up about 22% since the start of the year—to buy extra seed in a year that, true to forecasts, delivered unusually bountiful rains. Other rural Indians have piled into gold shops to sell at an unusually fast clip as well.
