"ADRs of Rio Tinto (RIO) are lower in the pre-market as the company said it expects 2010 mined copper production to come in at 661,000 tonnes, according to a MarketWatch report.
The company also reportedly said it sees the effect of lower grade copper on production to continue into 2011.
Commodities are heading lower overall on Friday, with gold and crude oil both sliding as concerns over European sovereign debt and ongoing tension in the Korean peninsula sent traders to the relative safety of U.S. dollars, driving down prices for basic goods. "
Friday, November 26, 2010
Building Asset
Importance of building asset. Network Marketing is the cheapest, easiest & simplest way.
Gold Weakens as Dollar Gains on Europe Debt Woes
Gold fell 1 percent on Friday as the dollar pushed to fresh two-month highs against the euro on worries that Ireland's debt crisis was spreading and on growing speculation of an imminent Portuguese bailout.
However, gold was underpinned by some modest safe haven buying amid investor nervousness over the European debt crisis after a newspaper report that euro zone nations were pressuring Portugal to follow Ireland's lead and seek a bailout. Portugal and Germany's finance ministry denied the report
read entire article
Subscribe to:
Posts (Atom)
