Key News Overnight:
Gold posted the biggest gain in more than a month after U.S. President Trump doused hopes for a quick trade deal with China and said he’s fine with U.S. equities declining, boosting haven demand. Trump suggested that a deal might have to wait until after the 2020 election.
Copper on Wall Street headed for the longest slump in more than two months as comments from President Donald Trump dimmed hopes for a U.S.-China trade deal this year.
The ASX200 plunged over 2 per cent yesterday, compounded slightly by the RBA’s decision to hold rates steady yesterday. The local economy will remain of high concern, as markets prepare for today’s release of local GDP data.
Iron ore sank as investors weighed up the outlook for global supplies after Brazil’s Vale SA said it’ll add volumes next year and may finally reach a target of boosting output to a record in 2022.
In This Issue:
Millennium Resources (MOY) | In receivership | Not covered | No rating
Gold Road (GOR) | Maiden Resource for Gilmour and Renegade | BUY | Analyst | James Wilson
Hot Chili (HCH) | Outstanding porphyry intercept at Cortadera | Not covered | No rating
Otto Energy (OEL) | Cardinal Resources (CDV) | Argonaut’s 2019 Best Undeveloped Projects