Resource Investor
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Good morning, Resource Investors.

Gold is holding onto recent gains above $1,100 an ounce, with the April futures contract climbing another $13 on Tuesday. Signs that the U.S. housing market is improving boosted stocks, pushed the dollar lower and gold futures higher. On Monday, the yellow metal edged up nearly 2% in the wake of positive manufacturing reports from the United States, Europe and China. The price recovery follows a weak January, during which gold lost 1.2%.

Copper also rose on the weaker U.S. dollar, as well as the upbeat manufacturing news. However, analysts say they are still looking for copper-specific data before traders can expect an extended rise in the price of the industrial metal.

In the energy markets, crude oil prices fell for a third week in a row last week, establishing a new 2010 low of $72.43. This was despite that crude inventories unexpectedly fell 3.9 million barrels, which was attributed to the closing of the Houston Ship Channel rather than a demand bump. On the bearish side, the same report showed that gasoline supplies are at their highest level since March 2008, gaining 1.99 million barrels to 229.4 million.

For more on the reasons behind these moves, see these headlines, where you can catch up on what happened in the resource markets this past week – and prepare for the next.

James Holter
Resource Investor

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Top Stories

FEATURED REPORTS

February 02, 2010
Suggestions of a gold price 'bubble' do not take account of gold's market fundamentals, which remain robust, said World Gold Council....
February 01, 2010
The gold market got a boost from President Obama's budget proposal, the fiscal stimulus programs in which are sure to weigh on the dollar....
February 01, 2010
Gold futures rose Monday, as a falling dollar and upbeat manufacturing reports from the U.S., Europe and China lifted the appeal of gold as a hedge against inflation....
February 01, 2010
The property package covers an area of geologic interest along several NE trending fault zones, and is bordered by properties owned by Greystar, Caerus and others. ...
February 01, 2010
All of the outstanding Special Warrants will convert into the Underlying Shares without any further action by the holders thereof on Feb. 1, 2010....
February 01, 2010
First Quantum Minerals is looking for resolution to the Democratic Republic of Congo's termination of their Contract of Association....
February 01, 2010
These shares will rank pari passu with First Quantum`s existing ordinary shares....
January 29, 2010
The First Nations logistics halt at Koper Lake has forced Noront to temporarily suspend its winter drill program and reduce manpower levels....
January 28, 2010
The precious metals have been dropping since mid-January and considering the market keeps making new lows, look for this market to trade sideways to lower in the next several sessions....
January 28, 2010
We take a closer look at the make-up of the Commodity Company Warrants Index, as well as sub-indexes of companies involved in gold and silver....
January 28, 2010
This report, which can be downloaded as a PDF, analyzes 132 mining companies listed on the London, Toronto, Australian and Johannesburg stock exchanges....
January 27, 2010
Today's gold trade offered some extreme volatility as traders tried to decipher all the global and domestic news....
January 27, 2010
Gold and other metals futures closed lower, weighed by concerns that showing Chinese growth would lessen demand for a range of natural resources....
January 27, 2010
The Phase II program will consist of approximately 2,000 m of diamond drilling to follow up positive results from the Phase I program....
January 27, 2010
Proceeds to New Gold will be $46 million in cash and $17 million in Beadell shares and are contingent on the successful completion of an A$75 million equity offering by Beadell....
February 02, 2010
Completion of a compliant resource estimate will put Encanto's Muskowekwan on a very short list of potential potash properties that are available for mergers and acquisitions....
February 02, 2010
The race to build up Canada's potash supplies to keep pace with burgeoning global demand is turning Saskatchewan's tiny handful of junior potash explorers into ripe plums for the picking....
February 02, 2010
Rio Tinto Group Chief Financial Officer Guy Elliott said $10 billion of asset sales and a rights issue has “transformed” the mining company's balance sheet....
January 29, 2010
Base metals prices rose too far, too fast. And as any knowledgeable trader understands, such a blistering pace is unsustainable. Here's where we stand today....
January 29, 2010
The final number of new First Quantum shares that will be issued following the purchase will be announced around Feb. 8....
January 28, 2010
Placement includes 7,456,420 shares at a price of C$2 per share, resulting in gross proceeds of about C$14.9 million....
January 28, 2010
Australian mining giant BHP Billiton is pushing ahead with its iron ore expansion plans in the Pilbara....
February 02, 2010
Some have been in favor of its exploration and exploitation but others are of the view that the country does not have what it takes to dig it out....
February 02, 2010
The surge in reserves was generated by a mixture of developments, including initial reserve estimates at the South Inkai and Karatau Uranium Mines in Kazakhstan....
February 02, 2010
The deal gives the Chinese firm access to the Dornod field in Mongolia....
February 02, 2010
Regulations would cover both hard-rock mining and in-situ mining, where uranium is flushed from the ground and collected through wells....
February 01, 2010
Cerium is the most abundant of the rare earths and previous drilling at a South Australian prospect hit ore containing up to 1.2 per cent of that metal....
January 29, 2010
CanAlaska's McTavish Project consists of three separate claim groups totaling 16,385 hectares....
January 27, 2010
Nuclear power can be a sensible energy source, but the problem traditionally has been the waste product. That may not be the case with thorium-based nuclear....
January 27, 2010
Uranium enrichment company Urenco reported that its production capacity significantly increased in 2009....
February 02, 2010
Crude oil prices fell for a third week in a row last week, reaching new lows for the year at $72.43 while posting the first monthly loss since July....
February 02, 2010
There is a widespread belief that the world has “ducked the strategic bullet” of global economic collapse, but this is merely the delusionary euphoria of the severely wounded patient. ...
February 02, 2010
EBITDA of $32.5 million for fourth quarter, up 28 percent over third quarter. EBITDA of $110.7 million for 2009, up 150 percent compared with 2008....
February 01, 2010
The themes behind the Petrobakken takeover of Berens Energy are not what you have read in popular media reports....
January 29, 2010
Crude oil futures slipped below $73 a barrel for West Texas Intermediate late Friday as a temporary boost from strong GDP figures failed to last and let prices sink to a one-month low....
January 29, 2010
Seen by some as the symbol of a strong Russia, others see Gazprom as an economic right arm of the Kremlin, imposing its policies by using energy as a weapon....
January 29, 2010
In his State of the Union address, the President spoke optimistically about the future, but in reality there is little evidence to support such an upbeat outlook....
January 29, 2010
ERA chief Rob Atkinson has weighed into the debate over a proposed new tax on the resources sector, calling for the industry's views to be sought....
January 28, 2010
Diamonds may be forever, but the once-glamorous sector needs to rediscover its lost magic....
January 28, 2010
U.S. President Barack Obama placed nuclear power among the favoured sources of clean energy that would keep America at the head of the global economy....
January 27, 2010
The Commodity Futures Trading Commission has released its periodic report on the financial status of futures clearing brokers. The latest data is as of Nov. 30, 2009....
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