Key News Overnight:
U.S. stocks fell to a 12-week low, while Treasuries advanced amid persistent concern the bond-market recession warning is growing louder as the trade war shows no signs of easing.
Beijing is gearing up to use its dominance of rare earths to hit back at Washington. A flurry of Chinese media reports on Wednesday, including an editorial in the flagship newspaper of the ruling Communist Party, raised the prospect of the government cutting exports of the commodities that are critical in defence, energy, electronics and automobile sectors.
Oil pared losses after hitting the lowest level since March as a key U.S. pipeline prepared to restart and an industry report was said to show a drop in American crude supplies.
ArcelorMittal, the world’s largest steelmaker, fell the most in two years after announcing that it’s further cutting steel production across its European plants to cope with weak demand and rising imports.
Global economic worries that are helping support gold are devastating other metals, especially those with industrial uses such as silver and copper. An ounce of gold bought more than 89 ounces of silver on Tuesday, the most since 1993.
In This Issue:
Rare Earths on a run | Matthew Keane
Gold Road (GOR) | AGM Presentation | BUY | Analyst | James Wilson
SRG Global (SRG) | Contracting wins continue | BUY | Analyst | Ian Christie
Independence Group / Prodigy Gold (IGO/PRX) | High Grade Cobalt at Grimlock | Analyst | Matthew Keane
St Barbara Ltd (SBM), Otto Energy Ltd (OEL)
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