BHP Group has made fresh overtures to acquire Anglo American whilst the London-listed miner pursues its own merger with Canada’s Teck Resources, said Bloomberg News on Sunday, citing people familiar with the matter.
The Australian commodities giant approached Anglo American in recent days, the sources told the newswire. Anglo American shares have risen 17% this year to a market value of £31.9bn, whilst BHP is valued at more than $130bn.
Anglo agreed in September to acquire Teck in an all-stock transaction that would create a $50bn copper, zinc and metals producer operating across multiple continents. That deal remains pending, with shareholders of both companies scheduled to vote on 9 December.
The combination still requires regulatory approval in China, the US and Canada. Ottawa is pressing Anglo to strengthen commitments regarding executive and management positions at the proposed Vancouver headquarters as a condition for approving the takeover of Teck, currently valued at approximately $19bn, said Bloomberg.
BHP’s offer is understood to be partly in cash and partly in its shares, said the Financial Times, citing people familiar with the deal. BHP’s share price has declined 20% in the past two years, partly because of lower iron ore prices.
BHP previously attempted to buy Anglo American for $49bn last year before abandoning the pursuit after a five-week public campaign. The 2024 bid, which included conditions requiring Anglo to sell off its South African assets, was widely criticised for being convoluted and tone-deaf, and sparked political opposition in South Africa, said the Financial Times.
New discussions are ongoing with no certainty of reaching agreement, said Bloomberg News. Representatives for both BHP and Anglo American declined to comment, it added.
https://www.miningmx.com/trending/63234-bhp-renews-takeover-approach-for-anglo-american-report/
Global climate negotiations ended on Saturday in Brazil with a watered-down resolution that made no direct mention of fossil fuels, the main driver of global warming.
The final statement, roundly criticized by diplomats as insufficient, was a victory for oil producers like Saudi Arabia and Russia. It included plenty of warnings about the cost of inaction but few provisions for how the world might address dangerously rising global temperatures head-on.
Without a rapid transition away from oil, gas and coal, scientists warn, the planet faces increasing devastation from deadly heat waves, droughts, floods and wildfires.
A marathon series of frenetic Friday night meetings ultimately salvaged the talks in Belém, on the edge of the Amazon rainforest, from total collapse.
Oil-producing countries like Saudi Arabia were adamant that their key export not be singled out. They were joined by many African and Asian countries that argued, as they have in earlier talks, that Western countries bear unique responsibility in paying for climate change because they are historically responsible for the most greenhouse gas emissions.
Around 80 countries, or a little under half of those present, demanded a concrete plan to move away from fossil fuels. Outside of Europe, they did not include any of the world’s major economies.
After the gavel fell, André Corrêa do Lago, the Brazilian diplomat leading the talks, announced that his country would lead an independent effort to rally nations to develop specific plans for transitioning away from fossil fuels and for protecting tropical forests. The political effort would have no force of international law, but there was a round of polite applause from delegates.
Then the objections began. Panama, then Colombia, then the European Union. One after another, diplomats said they were bitterly disappointed in the process and the outcome.
“Mr. President, this is the COP of truth,” said Daniela Durán González, a Colombian diplomat. “The truth cannot support an outcome that ignores the science.”
She and others said that the summit leaders had ignored their concerns before approving the deal.
Activists said the weak deal heightened fears among many countries, particularly vulnerable island states, that the world is politically unwilling or unable to address climate change and its cascade of accompanying catastrophes.
“Petrostates and their political allies are doing everything they can to try to stop the world from making progress on solving the climate crisis,” former Vice President Al Gore said in a statement. “They fiercely opposed what would have been the most important step forward at COP30: the development of a road map away from fossil fuels.”
The talks, known as COP30, were inauspicious from the get-go.
The U.S. government under President Trump effectively boycotted the annual gathering, thumbing its nose at multilateral climate action while simultaneously revving up the American fossil fuel industry and repealing federal support for renewable energy and electric vehicles. It was the first time in 30 years of climate talks that the United States had not attended.
And yet, in many ways, the disappointment of the summit was a result of America’s absence. While the United States under Democratic administrations has not always been a champion of ambitious climate action, it had consistently succeeded in one thing: Demanding that major economies with high greenhouse gas emissions, like China and Saudi Arabia, take on more responsibility. Without the United States, diplomats in Belém acknowledged, that enormous source of pressure was gone.
“The U.S. has harmed itself by taking itself out of the process,” said David Waskow, who leads the climate program at the World Resources Institute, a research group. “It’s not here to push a number of other economies. For example, China.”
Taylor Rogers, a White House spokeswoman, declined to comment on the outcome of the talks, but said in a statement that Mr. Trump had “set a strong example for the rest of the world” by pursuing new fossil fuel development. “President Trump has been clear,” she said. “He will not jeopardize our country’s economic and national security to pursue vague climate goals that are killing other countries.”
China, currently the world’s largest greenhouse gas emitter by far, played a limited role in Belém, choosing not to step into the leadership vacuum created by the absence of the United States.
https://www.nytimes.com/2025/11/22/climate/cop30-climate-summit-ends-belem.html
Key Points
Trying to predict where the broader benchmark S&P 500 index will land in 12 months is one of the toughest jobs on Wall Street. Nobody can predict the future, and 12 months is a relatively short period of time. It's also riskier for strategists to be bearish, as more strategists will lose their jobs for missing a market rally than for failing to see a market correction.
However, in 2022, Morgan Stanley's Chief Market Strategist, Mike Wilson, became bearish on the stock market, while many strategists were still riding the late-cycle COVID-19 wave. Wilson nailed his call, as the S&P 500 fell close to 20% that year. Recently, Wilson and his team came out with a new price target for the S&P 500 -- and it may surprise you.
Strong corporate earnings can push up valuations
Wilson has now been bullish since earlier this year. He believes that a new bull market and a "rolling recovery" began in April, and thinks it's still in the early stages. Primarily, Wilson and his team are bullish on corporate earnings, which they think will be driven higher by factors including positive operating leverage, increased pricing power, and efficiency gains fueled by artificial intelligence.
Our forecasts reflect this upside to earnings which is another reason why many stocks are not as expensive as they appear despite our acknowledgement that some areas of the market may appear somewhat frothy -- i.e., certain unprofitable, speculative growth areas.
Morgan Stanley estimates that the S&P 500 collectively beat Wall Street's revenue estimates by 2.2% in the third quarter, double the average. The bank also calculated 8% median earnings-per-share growth for the Russell 3000, the strongest growth seen in four years. Wilson and his team also believe that the S&P 500 can collectively continue to grow earnings. They expect the benchmark index to register 12% year-over-year growth this year, 17% next year, and 12% in 2027.
The market is more doubtful about another interest rate cut from the Federal Reserve in December. But as of this writing, Wilson thinks the market is underestimating just how dovish the Fed will become, considering a weakening labor market and President Donald Trump's administration's wish to "run it hot," in reference to the economy. This is likely to lead to both rate cuts and help from the Fed's balance sheet, according to Wilson.
https://finance.yahoo.com/news/wall-street-analyst-correctly-predicted-133000004.html
By Felicity Bradstock - Nov 22, 2025, 10:00 AM CST
After selecting Rolls-Royce as the United Kingdom’s preferred bidder to build the country’s first small modular reactors (SMRs), the government has confirmed the start of project development in Wales. The development of SMR technology is expected to help the U.K. expand its nuclear power capacity, as well as become a competitive SMR power. However, the United States Trump administration, which recently signed an agreement with the U.K. for SMR development, does not support the choice of a British company for the development of the technology.
In June, the U.K. government announced that Rolls-Royce SMR had been selected as the preferred bidder to partner with Great British Energy – Nuclear (GBE-N) to develop SMRs, subject to final government approvals and contract signature. The government pledged almost $3.3 billion for the SMR programme, expecting to support the creation of 3,000 new skilled jobs and power the equivalent of roughly 3 million homes with clean, domestic energy.
The SMR project marks a major shift in the U.K.’s approach to nuclear energy, as it develops the first two major conventional nuclear plants in several decades and invests in new nuclear technologies. SMRs are smaller and faster to build than conventional nuclear reactors, and their modular nature means that more capacity can be added as required.
In November, the government announced plans to develop a first-of-its-kind nuclear power station on the Welsh island of Anglesey. The plant at Wylfa will be home to three SMRs, although it will have space for up to eight, with works expected to commence in 2026 and first power generation in the mid-2030s.
The existing nuclear plant at Wylfa was powered down in 2015, and previous plans for a large-scale replacement were scrapped in 2021. The new project is expected to bring a much-needed boost to Anglesey’s economy, as well as provide jobs for several decades. Prime Minister Kier Starmer said, “Britain was once a world leader in nuclear power, but years of neglect and inertia have meant places like Anglesey have been let down and left behind. Today, that changes."
The First Minister of Wales, Eluned Morgan, supports the project and has been “pressing the case at every opportunity for Wylfa's incredible benefits”. Meanwhile, the U.K. energy minister, Ed Miliband, said that Britain is in the race for new reactors. Miliband said in a radio interview that the aim is to “work with local colleges to make sure that there are local skills providers, skills training opportunities, so local people get these jobs”.
The SMRs will be built in a modular format in factories before being shipped to site to be assembled. However, several challenges remain, including getting regulatory approval, building the SMR factories, and training the workforce to operate the sites. Rolls-Royce will build on its experience developing reactors for Britain’s nuclear submarines to develop the SMRs. Since promoting its SMR business, the British firm has attracted several investors, including the UAE’s sovereign wealth fund – the Qatar Investment Authority, the American utility Constellation, and CEZ, the Czech Republic’s power company.
While the new project offers high hopes for the development of the U.K.’s nuclear energy industry, U.S. President Trump is less than happy with Prime Minister Starmer’s selection of Rolls-Royce for the job. The U.S. was reportedly hoping that the U.K. government would choose American Westinghouse Electric Company to develop a conventional nuclear plant at Wylfa.
Before the Anglesey project was announced, the U.S. ambassador Warren Stephens published a statement saying that Britain should choose “a different path” in Wales. “We are extremely disappointed by this decision, not least because there are cheaper, faster and already-approved options to provide clean, safe energy at this same location,” Stephens stated. The ambassador’s response follows the signing of a nuclear partnership between the U.K. and the U.S. in September, with a potential value of $100 billion.
However, a source close to the U.K. government said, “This is the right choice for Britain. This is our flagship SMR programme, producing homegrown clean power with a British company, and we have chosen the best site for it.”
Nevertheless, the U.K. government said that developing SMRs at Wylfa “doesn’t close the door" to a U.S. manufacturer working on a future project. GBE-N is also assessing different sites in the U.K. for the potential development of another large-scale nuclear power plant, like Hinkley Point in Somerset and Sizewell C in Suffolk, which are currently being developed and are expected to power around six million homes once complete.
Despite the agreement for greater cooperation between the U.K. and the U.S. on nuclear power, the U.K. government has chosen a British company to develop its first SMR project, showing its support for the development of domestic nuclear technologies. The project is expected to make the U.K. highly competitive in the field of SMR reactor development over the coming decade, as well as diversify the country’s nuclear power industry.
The Venezuelan parliament has approved a 15-year extension of joint ventures between Venezuelan state-owned company PDVSA and Russian oil firm Roszarubezhneft, according to a statement on the Venezuelan National Assembly’s website.
The extension, announced on Thursday (November 20), allows the joint ventures operating oilfields in western Venezuela to continue until 2041, with lawmakers estimating roughly 91 million barrels of crude over the period and investment of about US$616 million. The move follows a broad strategic partnership signed earlier this year by Russian President Vladimir Putin and Venezuelan President Nicolas Maduro.
Roszarubezhneft was created in 2020 after the US sanctioned two subsidiaries of state oil firm Rosneft for helping market Venezuelan crude, prompting Rosneft’s retreat from the country. The new state-owned firm soon acquired Rosneft’s Venezuelan assets, allowing Russia to maintain its presence in the sector.
Zarubezhneft’s main activities are exploration, development, and operation of non-Russian oil and gas fields; design, construction, and operation of oil refineries, tank farms, and pipeline systems; application of advanced Russian technologies for oil field development; testing and export of modern hi-tech methods for oil recovery enhancement; and export-import operations for technological equipment supply.
Both Russia and Venezuela have faced years of Western sanctions. Venezuela has been subjected to sweeping US measures targeting PDVSA, the financial system, and senior officials, while Russia has faced escalating Ukraine-related sanctions since 2014. Caracas has also remained one of Moscow’s most vocal allies, regularly condemning Western sanctions against Russia and expanding diplomatic and economic cooperation across multiple sectors.
The extension of oil cooperation also comes against the backdrop of increasing US pressure on Venezuela. In recent months, the Pentagon has deployed warships to the Caribbean and has carried out controversial strikes on small boats it claims are involved in drug smuggling from Venezuela. The White House maintains that Maduro is an illegitimate, cartel-linked ruler, fueling speculation that direct military action might be imminent.
https://russiaspivottoasia.com/venezuela-extends-russian-oil-joint-venture-agreements-by-15-years/
Tullow Oil plc (LON:TLW) shares were down 32% on Friday . The company traded as low as GBX 5.22 and last traded at GBX 5.80. Approximately 255,232,719 shares traded hands during trading, an increase of 2,751% from the average daily volume of 8,953,445 shares. The stock had previously closed at GBX 8.53.
Analyst Upgrades and Downgrades
TLW has been the subject of several recent analyst reports. Jefferies Financial Group dropped their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Canaccord Genuity Group cut their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 15.33.
Tullow Oil Stock Performance
The firm’s 50 day simple moving average is GBX 9.87 and its 200 day simple moving average is GBX 12.70. The firm has a market cap of £84.88 million, a PE ratio of -0.41, a PEG ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.
About Tullow Oil
Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.
https://www.defenseworld.net/2025/11/23/tullow-oil-lontlw-trading-down-32-heres-what-happened.html
India 's imports of Russian crude oil, a key source for fuels such as petrol and diesel, are likely to see a sharp decline in the near future. This is mainly due to new US sanctions on Moscow's top oil exporters coming into effect. The sanctions target Rosneft and Lukoil, along with their majority-owned subsidiaries, thus effectively turning crude linked to these firms into a "sanctioned molecule."
Import reduction India's Russian crude imports to drop significantly India's average crude oil imports from Russia this year have been around 1.7 million barrels per day (bpd). However, with the new sanctions coming into play, these figures are expected to drop significantly in December and January. Analysts predict that near-term declines could bring imports down to about 400,000bpd. Despite this, India has continued its Russian crude purchases for November at an estimated 1.8-1.9 millionbpd as refiners cash in on discounted prices before the sanctions fully kick in.
Market shift India's shift to Russian crude post-Ukraine invasion India, which has long relied on Middle Eastern oil, has been shifting toward Russian crude since the Ukraine invasion in February 2022. This is because Western sanctions and a drop in European demand have made Russian oil available at steep discounts. As a result, India's imports of Russian crude have jumped from less than 1% to nearly 40% of its total crude oil imports in no time.
Refinery response Sanctions impact on Indian refiners The US sanctions have already prompted companies like Reliance Industries, HPCL-Mittal Energy Ltd, and Mangalore Refinery and Petrochemicals Ltd to halt imports for now. The only exception is Rosneft-backed Nayara Energy which heavily relies on Russian crude after supplies from other countries were effectively cut off due to European Union sanctions. "No Indian refiner, other than Nayara's already-sanctioned Vadinar facility, is likely to take the risk of dealing with OFAC-designated entities," said Sumit Ritolia from Kpler.
https://www.newsbytesapp.com/news/business/how-sanctions-on-russian-oil-will-hurt-india/story
Oil prices slipped Monday, extending losses from last week, as Russia-Ukraine peace talks edged closer to a solution and the U.S. dollar strengthened.
Oil prices fell on Monday, extending last week’s decline of about 3%, as investors weighed the chances for a U.S. rate cut against the prospect of a Ukraine peace deal that could lead to an easing of sanctions on major producer Russia.
The United States and Ukraine were set to resume work on a revised peace plan ahead of a Thursday deadline set by U.S. President Donald Trump, after agreeing to adjust an earlier version that critics said was too favourable to Moscow.
Brent crude futures fell 58 cents, or 0.9%, to $61.98 per barrel, while West Texas Intermediate was down 60 cents, or 1%, at $57.46 a barrel.
“The market is overwhelmingly focused on the macro view, which is this Ukraine peace treaty and the U.S. economy,” said Jorge Montepeque, managing director at Onyx Capital Group.
U.S. sanctions on state-owned Rosneft and private firm Lukoil, which took effect on Friday, have caused friction that would normally send prices up, but the market is preoccupied by the peace deal making it bearish for oil, he added.
Trump has set a deadline of Thursday for the deal, but U.S. Secretary of State Marco Rubio said on Sunday that the deadline might not be set in stone.
A peace deal could potentially lead to a rollback of sanctions that have challenged Russian oil exports. Russia was the second-largest producer of crude oil in the world after the United States in 2024, according to the U.S. Energy Information Administration.
Uncertainty regarding U.S. interest rate cuts is another factor suppressing investors’ appetites.
However, the possibility of a rate cut next month increased after New York Federal Reserve President John Williams suggested a cut in the near term.
“Expectations of a potential Fed rate cut in December may also provide a counterbalance to bearish sentiment by improving global risk appetite,” said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.
“Crude prices have already declined nearly 17% this year, reflecting persistent negative sentiment ... at these lower levels, value buying is expected to gradually emerge.”
https://www.cnbc.com/2025/11/24/oil-falls-as-ukraine-peace-talks-edge-toward-a-solution.html
Monday, 24 November 2025 06:00 AM
Company Update
CALGARY, AB / ACCESS Newswire / November 24, 2025 / Primary Hydrogen Corp. (TSXV:HDRO)(FRA:83W0)(OTCQB:HNATF) (the "Company" or "Primary Hydrogen") is pleased to announce results from its field sampling program at the Crooked Amphibolite, Coquihalla, and Cogburn projects (collectively the "BC H2 Projects") in British Columbia, Canada. The program identified an approximately 8-kilometre-long trend of elevated hydrogen readings at the Crooked Amphibolite Property, with values up to 180 ppm, as well as an anomalous heavy rare earth element (HREE) zone at the Coquihalla Property with total rare earth oxides (TREO) of 170 ppm.
Program Highlights:
"The Crooked Amphibolite property has delivered encouraging results with hydrogen readings up to 180 ppm distributed along an 8-kilometre trend," stated Peter Lauder, Vice President of Exploration at Primary Hydrogen Corp. "The linear distribution of these anomalies along interpreted fault structures is consistent with our geological model for natural hydrogen generation through serpentinization at depth. This validates our targeting approach and positions Crooked Amphibolite as one of British Columbia's most prospective natural hydrogen exploration targets. The discovery of a HREE soil anomaly at Coquihalla adds further value to our BC portfolio and demonstrates the multi-commodity potential of these ultramafic-hosted terranes."
Program Overview
The field sampling program was conducted by Tripoint Geological Services under the supervision of Peter Lauder, P.Geo., VP of Exploration, and was completed in Q3/2025. The program utilized sampling techniques designed and tested by the Institut National de la Recherche Scientifique (INRS) to minimize artificially produced hydrogen. A total of 41 soil samples and numerous soil gas measurements were collected across the three properties, covering an aggregate area of 3,346 acres.
Crooked Amphibolite Property - Soil Gas Results
The Crooked Amphibolite Property geology is dominated by serpentinized mafic and ultramafic rocks, which represent key indicators of naturally occurring hydrogen (NOH) potential. The serpentinization process-whereby ultramafic rocks react with water at elevated temperatures-is well-established as a source of hydrogen. The property is structurally complex, with major thrust faults and strike-slip faults crisscrossing the region. These faults can act as both migration pathways for hydrogen and potential accumulation mechanisms, particularly where they intersect serpentinized ultramafic bodies.
Figure 1: Crooked Amphibolite Property - Soil Gas Hydrogen Results
Multiple sampling stations on the Crooked Amphibolite Property yielded elevated hydrogen readings with values up to 180 ppm, distributed along an approximately 8-kilometre trend (see Figure 1). The trend is interrupted near the center of the property by a gap where saturated ground conditions prevented optimal gas sampling. The highest hydrogen values are typically surrounded by moderate values, suggesting gradual dissipation away from source zones. The linear nature of the anomalous readings suggests that an active fault system may be tapping into zones of active serpentinization at depth and potentially acting as a conduit for hydrogen migration.
The Company believes that additional sampling will be required to further define the extent and intensity of the hydrogen anomaly. Employing sampling techniques pioneered by Primary Hydrogen and INRS, the Company may undertake closer-spaced sampling and utilize alternative probe types to validate and refine the initial observations.
Coquihalla Property - Soil Sampling Results
Soil samples collected from the central portion of the northern claim area on the Coquihalla Property revealed an anomalous concentration of heavy rare earth elements with a TREO value of 170 ppm. This anomaly is spatially correlated with a magnetic high and may be attributed to enrichment associated with adjacent ultramafic units. Alternatively, these soil anomalies could be indicative of an undiscovered rare earth element deposit. Further sampling and analysis will be required to validate this hypothesis and determine the source and significance of the HREE enrichment.
Figure 2: Coquihalla Property - Dysprosium in Soils
Despite the presence of serpentinized ultramafic rocks situated along fault structures, the Coquihalla Property yielded no above-background hydrogen readings in soil gas sampling. Similarly, the Cogburn Property produced only one sample with hydrogen values above background levels (175 ppm). Soil geochemistry results across all properties showed no correlation between hydrogen values and other elements analyzed, which is consistent with hydrogen's high mobility and tendency to rapidly escape to the atmosphere.
Exploration Program Methodology
The exploration program integrated portable gas detectors (Dräger X-am 8000) for immediate in-field measurements with conventional geological exploration techniques, including soil sampling, prospecting, and geological mapping. Soil gas sampling involves the collection and analysis of gases present in soil pores near the surface, helping to detect anomalies potentially indicative of subsurface hydrogen accumulations. This integrated approach is specifically aimed at efficiently identifying the presence of natural hydrogen at surface levels while simultaneously refining the Company's geological understanding of potential hydrogen generation sources, migration pathways, and accumulation zones.
Primary Hydrogen's sampling methodology and procedures have been collaboratively developed with INRS, leveraging laboratory-verified techniques to ensure consistent, reliable results and minimize artificially generated hydrogen. The collected data will inform subsequent exploration phases and increase confidence in the identification and evaluation of prospective natural hydrogen targets.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Peter Lauder, P.Geo., V.P. Exploration for Primary Hydrogen Corp. Mr. Lauder is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Primary Hydrogen Corp.
Primary Hydrogen is dedicated to the exploration and development of natural hydrogen resources. With over 740 acres in the U.S. and 230 square kilometers across Canada, the Company's portfolio includes the Blakelock, Hopkins, Mary's Harbour, Point Rosie, Crooked Amphibolite, Coquihalla, and Cogburn projects. Primary has an option to acquire a 75% interest in a hydrogen-REE project known as Wicheeda North located in British Columbia.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ben Asuncion
Chief Executive Officer
Primary Hydrogen Corp.
Email: ben@primaryh2.com
Mumbai, Nov 24 (IANS) Gold prices fell sharply on Monday as weak chances of a US Federal Reserve rate cut and easing geopolitical tensions weighed on investor sentiment.
A stronger US dollar also added pressure on the precious metal.
On the Multi Commodity Exchange (MCX), gold December futures dropped 1 per cent to Rs 1,22,950 per 10 grams.
Silver followed the trend, with December futures falling 0.61 per cent to Rs 1,53,209 per kg in early trade.
“In INR gold has support at Rs1,23,450-1,22,480 while resistance at Rs1,24,750-1,25,500,” analysts said.
“Silver has support at Rs1,53,050-1,52,350 while resistance at Rs1,55,140, 1,55,980,” they added.
Analysts said gold currently lacks any strong positive trigger to maintain its previous gains.
The latest US job market data reduced expectations of a 25-basis-point rate cut by the Federal Reserve in December, which has been a key reason behind the correction in prices.
The strong economic data pushed the US dollar index to nearly a six-month high on Friday.
The index remained above the 100 level on Monday, making gold more expensive for buyers holding other currencies and restricting demand.
Geopolitical concerns have also eased in recent days, further reducing gold’s safe-haven appeal.
Experts believe the combination of a stronger dollar, uncertainty over US tariff decisions, developments in the Russia-Ukraine conflict, and the upcoming Fed policy announcement may keep gold prices volatile in the near term.
Some market analysts expect further correction and advise investors to stay cautious before making fresh purchases.
Gold is attempting to reclaim momentum as prices hover near $4,100, driven by growing expectations of a December Fed rate cut, now priced at 71 per cent probability after dovish hints from officials like Miran and Williams.
“Bullion has been choppy over the past three sessions, reflecting traders’ indecision, but with rate-cut bets rising and geopolitical risks lingering, dips in gold are likely to attract renewed buying interest in the coming week with next resistance seen around 125000 and support near 122000,” experts added.
https://indianews.com.au/gold-prices-slide-1-pc-on-mcx-as-fed-rate-cut-hopes-fade/
Ecora Resources (OTCQX:ECRAF) noted Rainbow Rare Earths' update that adding yttrium to the Phalaborwa mixed rare earth product could increase the project's estimated EBITDA by +US$30 million. Ecora holds a 0.85% gross revenue royalty on the Phalaborwa project, exposing the company to any upside from that EBITDA improvement.
The announcement is forward-looking and subject to the assumptions and risks outlined by the companies, including feasibility, operatorship and market conditions.
Cars are queued for export at Pyeongtaek Port in Gyeonggi Province, April 9. Yonhap
By Yi Whan-woo - Published Nov 23, 2025 1:38 pm KST
An increasingly weak won is expected to split the stock market, boosting exporters who earn more from stronger dollars while squeezing manufacturers that rely on imported raw materials and therefore face lower margins, analysts said Sunday.
They forecast that stocks in semiconductors, automobiles, shipbuilding, defense and other export-oriented sectors are likely to benefit as the Korean currency remains in the 1,400-won range per dollar, a key psychological threshold.
The won closed at a seven-month low of 1,475.6 per dollar on Friday.
In semiconductors, beneficiaries include Samsung Electronics and SK hynix, which together account for more than one-fourth of the benchmark KOSPI’s market capitalization and earn about 80 to 90 percent of their revenue overseas.
Their profits are expected to remain strong as global demand for DRAM and NAND flash stays robust through the fourth quarter.
Automakers Hyundai Motor and its sister company Kia also face a favorable outlook for currency-driven revenue growth.
“For every 10-won increase in the annual average exchange rate, combined operating profits of Hyundai Motor and Kia rise by around 500 billion won ($339.67 million),” said Hwang Seung-taek, head of research at Hana Securities.
The shipbuilding sector is expected to benefit as most payments for vessel orders are received in dollars.
The defense industry, supported by a rising share of overseas arms exports, is likewise seen as a winner.
K-content–driven cosmetics companies are poised to gain from expanding global market presence, while entertainment firms such as HYBE — now staging more concerts in North America and Europe — are likely to secure sizable gains from a stronger dollar.
Conversely, steelmakers, airlines and energy companies face a bleak outlook as they rely heavily on imported raw materials such as crude oil for production and operations.
POSCO and other steel manufacturers are expected to shoulder greater cost burdens as they import raw materials in dollars.
The airline sector is considered one of the most vulnerable to a strong dollar, with profitability likely to deteriorate.
Most airline revenue is generated in won, while more than half of their expenses — including jet fuel purchases, the single largest cost item — are dollar-denominated.
State-run energy companies supplying electricity and gas are expected to suffer direct hits due to structurally high levels of foreign currency debt.
Domestic demand-driven sectors such as travel and retail are likewise expected to be negatively affected, as higher import prices weaken consumer sentiment and ultimately reduce demand.
In the refining and petrochemical sector, companies are expected to gain short-term benefits from higher exchange rates through increased inventory valuation gains.
Analysts, however, caution that if the strong dollar trend persists, rising import costs could erode profitability, highlighting the need for careful risk management.
Among other things, this momentum is supported by the pace of urbanization and government capital investments
Demand for steel in India will remain on a steady growth trajectory. This was announced by Girishkumar Kadam, Senior Vice President and Head of Corporate Ratings at ICRA, during the Mjunction conference in Mumbai, according to Kallanish.
According to him, the momentum will be supported by the country’s accelerating urbanization, stable government capital expenditure, and favorable demographics. At the same time, the country’s market is sensitive to changes in economic conditions.
Kadham expects steel consumption in India to grow by 7-8% in FY2025/2026 due to continued construction activity and steady expansion of production. Construction and infrastructure still account for nearly 60% of total demand, with the automotive and engineering sectors also accounting for a significant share.
ICRA’s senior vice president expects steel capacity utilization in India to improve this year, with part of the additional supply being absorbed by growing demand.
Conference participants also noted that scrap is rapidly becoming a decisive factor in India’s ambitions for green steel, Construction World writes. Ensuring sufficient quantities remains a key challenge.
Sandeep Kumar, Vice President of Raw Materials at Tata Steel, also stressed that Indian steelmakers are increasingly paying a high price for their dependence on imported coking coal, while aggressive auctions for iron ore mines are leading to higher domestic ore prices.
India reached its target steel production capacity of 205 million tons per year in the 2024/2025 financial year, according to a report by MP Financial Advisory Services. The country is confidently moving towards its strategic goal of 300 million tons per year by the 2030/2031 financial year.
https://gmk.center/en/news/demand-for-steel-in-india-remains-on-a-growth-trajectory/
