News Wrap

IN THIS morning’s News Wrap: Trump presidency could spur gold prices says Northern Star boss; Growth returns to BHP but only just; and slowing China home price rises add to doubts about economy.

Lou Caruana

Trump presidency could spur gold prices says Northern Star boss

Gold prices will surge if Donald Trump is successful in winning his way to the White House, says one of Australia's fastest growing goldminers, according to the Sydney Morning Herald.

While he didn't explicitly name Trump, there was little doubt who Northern Star boss Bill Beament was talking about when discussing the outlook for gold prices on Wednesday.

Growth returns to BHP but only just

BHP Billiton will seek to appease growth-conscious investors with increased production in four mineral divisions over the next year, but the increases will barely offset another sharp decline in petroleum volumes, according to the Australian Financial Review.

Amid weak commodity prices, BHP reduced production in all divisions except coking coal in the 2016 financial year, but has forecast increasing production over the next 12 months in iron ore, copper, coking coal and nickel, which is enjoying a price rebound on changes to mining laws in the Philippines.

Slowing China home price rises add to doubts about economy

Home price rises in China slowed in June for a second straight month, adding to fears that a construction-led rebound in the economy may not be sustainable, according to the Sydney Morning Herald.

The property market is a key driver of the world's second-largest economy and a robust recovery in home prices and sales gave a stronger-than-expected boost to activity in the first half of the year.

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