PRECIOUS METALS HIGHLIGHTS: Top Stories Of The DayTOP...

PRECIOUS METALS HIGHLIGHTS: Top Stories Of The Day


TOP STORIES:

UBS Lowers Short-term Gold Forecasts On Better Economic Outlook

LONDON -(Dow Jones)- Swiss bank UBS Monday downgraded its one- and three-month forecasts for gold, citing expectations of a sustainable recovery in the global economy, particularly in the U.S.

Rio Tinto Accepts Offer For Extract Resources

MELBOURNE (Dow Jones)--Rio Tinto PLC (RIO) said Monday it has agreed to sell its minority stake in Extract Resources Ltd. (EXT.AU), but remains open to jointly developing the Australian uranium explorer's Husab project in Namibia with new owner China Guangdong Nuclear Power Corp. and partner China-Africa Development Fund.

STORIES OF INTEREST:

India Jewelers To Shut Shop For 2 More Days In Protest Against Tax Hike - Executive

MUMBAI (Dow Jones)--Indian jewelers will extend their protest for two more days until Wednesday against an increase in gold import duty and excise tax, a senior industry executive said Monday.

WSJ: Gold Miner Red 5 Raises A$25 Million At A$2.12/Share -Source

SYDNEY (Dow Jones)--Philippines-focused gold miner Red 5 Ltd. (RED.AU) has raised around A$25 million at A$2.12 a share, representing a near 7% discount to its last closing price, a person familiar with the matter told Deal Journal Australia Monday.

Peru's January Gold, Silver Output Rises; Copper and Zinc Fall

LIMA (Dow Jones)--Production of Peru's gold and silver increased in January, while output of copper and zinc declined, the government said.

MARKETS:

Gold Futures Flat, Seeking Cues From Dollar

NEW YORK (Dow Jones)--Gold futures were near unchanged Monday as traders sought clues from the currency market and technical indicators amid a quiet trading day.

-By Jonathan Robins, Dow Jones Newswires; 4420-7842-9285; Jonathan.Robins@ dowjones.com


(END) Dow Jones Newswires
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