In an interview with Resource Investing News, Yu-Dee Chang principal at ACE Investment Strategists Inc. attributed the recent volatility of copper prices to the “shift of investment demand in copper from small speculators to larger hedge funds.”
Paragon Minerals Corporation (CVE:PGR) reports on its exploration activities on its South Tally Pond volcanogenic massive sulphide project in central Newfoundland.
Copper rose Tuesday, on the back of an agreement by French banks to rollover Greek debt. France introduced a “creative” solution to the Greek debt-crisis on Monday, suggesting that banks roll over some Greek debt for 30 years, in order to help the struggling economy avoid insolvency.
In an interview with Copper Investing News, Yu-Dee Chang, Principal and Chief Trader at ACE Investment Strategies weighed in on the perspective that as an industrial metal, copper is the “most crucial” of the critical metals.
Copper's rising prices during the last weeks of May optimism in the market. However, overwhelming amounts of data suggesting a decrease in demand appear to be tugging at investors' confidence.
Copper prices have been gaining over the last week as the red metal touched a three-week high last Friday, ignoring weak economic data out of the United States as a rally in equities and a weak greenback provided enough momentum to boost prices.
Copper rebounded Tuesday from a five-month low, supported by a weaker greenback and bargain hunting.
Copper recovered from its descent to seven-month lows, Tuesday, after better-than-expected US factory orders spread sentiment that the country is in position to extend its economic recovery.
Excalibur Resources Ltd. (CNQ:XBR) reports that it has now received a NI 43-101 compliant technical report on its Silver King property.
Red Metal Resources Ltd. (OTCBB:RMES) reports a $2 million equity financing consisting of 6,723,333 units of the company at a price of $0.30 per unit.
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