Key News Overnight:
China wants tariffs to be rolled back as part of the phase one trade deal with the U.S., the Global Times said. A U.S. pledge to scrap scheduled Dec. 15 tariffs cannot replace the rollback in existing ones, the Communist Party-backed tabloid said. It warned that interfering in China’s internal affairs and applying pressure on the country to buy commodities could threaten the deal.
Optimism that the U.S. and China are edging toward a trade deal is curbing gold’s appeal as a haven. The metal is down 3.8% this month, the most since 2016, extending a retreat from a six-year high set in September.
China threats of retaliation over the U.S.’ Hong Kong bill highlights the potential that rare-earth assets could rebound after being depressed as Beijing boosted output to preserve its dominant role in the sector. China’s higher production quota for rare-earth elements this year helps suppress prices, and complicates U.S. and Australian plans to expand capacity.
Nickel’s rally is fading fast as signs of faltering demand left the metal with the biggest monthly loss among major commodities. Prices have declined 18% in November on the London Metal Exchange as concerns over the sharp slowdown in industrial and manufacturing output in major economies ripple through the market.
In This Issue:
The Siberian Pipeline is about to start delivering gas to Northern China | Analyst | Michael Eidne
NTM Gold (NTM) | Outstanding results from The Hub | SPEC BUY | Analyst | James Wilson
Newcrest Mining (NCM) | Drill results from Havieron | Not covered | No rating
Gage Roads (GRB) | Angel Seafood (AS1) | Saracen Mineral Holdings (SAR) | Argonaut’s 2019 Best Undeveloped Projects