Some of the world’s biggest miners say they like what they’re hearing from Peru’s new leftist government of late, further easing fears that drastic policy changes could stall future output in the No. 2 copper nation.
Copper prices shot up 3% on Wednesday on relief that China’s debt-burdened Evergrande would pay interest on a domestic bond, easing fears that the property giant’s troubles might hit the global economy.
Gold advanced Monday as fears of a spillover from debt woes of Asian real estate developer China Evergrande Group stoked demand for havens, outweighing concerns that the Federal Reserve’s reduction in stimulus could come soon.
Gold pared earlier losses and rose above the $1,800 level once again after the latest US inflation data came in slightly lower than expected, which may ease fears that the Federal Reserve will be forced to taper its bond buying soon.