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Glencore’s Steelmaking Company production fell

ByVictoria

Glencore’s steelmaking coal production in the first half soared following the integration of Elk Valley Resources, but copper and gold output fell.

Elk’s contribution pushed first-half production expressed in copper equivalents up 5%. This is despite copper production falling 26% to 343,900 tons and gold output dropping 18% to 301,000 ounces.

The FTSE 100-listed company said it was confident that it can deliver its full-year production guidance but tightened the ranges of some of its commodities to reflect its performance to date.

Source – The Wall Street Journal

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    Jeffrey Edward Gundlach – is an American businessman, investor, and philanthropist. He is the founder of DoubleLine Capital an investment firm.

    DoubleLine Capital – American investment management firm. Headquarters in Tampa, Florida.

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    “We are witnessing a resilient economy … against a backdrop of geopolitical concerns, and an expectation of some sort of chaos down the road,” said Oliver Pursche, senior vice president at Wealthspire Advisors in New York.

    Gold reversed its multi-session rally, which was driven by a risk-off flight to safety that drove the precious metal to a record high.

    Spot gold fell 0.3% to $2,856.40 an ounce. U.S. gold futures fell 0.39% to $2,860.50 an ounce.

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