An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the pricing sessions in London and Shanghai on Friday August 24....Read More
Three-month base metals prices on the London Metal Exchange were for the most part in positive territory on the morning of Friday August 24, with tin prices bucking the trend with a 0.3% decline, while the rest were up by between 0.2% for aluminium and 1.1% for lead. The three-month copper contract was up by 0.8% at $6,014 per tonne.Volume has been high with 9,953 lots traded as at 07.31am London...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Friday August 24.Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Friday, with the complex largely ignoring a resurgence of US-Sino trade tensions.Check Metal Bulletin's live futures report here.Korea Resources Corp (Kores) has initia...Read More
European stainless steel base prices have been assessed stable on Friday August 24, while alloy surcharges are set to decrease for September following announcements by some producers this week. ...Read More
Import prices for stainless steel in East Asia were little changed over the past week amid lackluster regional demand....Read More
Most US secondary aluminium alloy prices have been resisting downward pressure amid the decline in aluminium scrap prices, but discounted offers for benchmark A380.1 alloy may indicate further adjustments lower down the road....Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday August 24:...Read More
As of 3:20 PM Eastern standard time, gold futures are trading under substantial pressure. The most active December Comex contract is currently down $11.50 and fixed at $1,191.80. As in previous instances where gold has traded to lower pricing, it is the U.S. dollar that is a significant contributor to that falling price.The dollar index is currently trading up 0.56%, which is a net gain of .534 po...Read More
(Kitco News) - While the gold market could see a bounce from its recent 1.5 year low, one market strategist said that more work needs to be done before the precious metal resumes its long-term uptrend.Avi Gilburt, creator of ElliottWaveTrader.net said that he is expecting to see a small reprieve in gold’s selling pressure in the near-term and expects SPDR Gold Shares (NYSE: GLD) to push to r...Read More
(Kitco News) - Gold and silver prices are lower in early-afternoon U.S. trading Thursday, with gold back below $1,200.00. The U.S. dollar index has regained some footing and is trading solidly higher today after sliding lower most of this week, and that's a daily negative for the precious metals markets. December gold futures were last down $9.40 an ounce at $1,193.90. September Comex silver was l...Read More
(Kitco News) - Gold prices remain down on the day following disappointing preliminary manufacturing and service sector data.Thursday, research firm IHS Markit, said that its flash Purchasing Managers Index for August, fell to a reading of 54.1, down from July's final reading of 55.3. Economists were calling for a reading of 55.9.At the same time the firm's service sector PMI showed a reading of 55...Read More
(Kitco News) - Economic data continues to have little impact on the gold market as investors continue to focus on strong momentum in the U.S. dollar.Gold prices while not reaction to weaker than expected housing data, remain under pressure and below important support at $1,200 an ounce.Thursday the U.S. Commerce Department said that new home sales fell 1.7% in July, to a seasonally adjus...Read More
Gold has been under pressure since the start of Asia-Pacific trading as the U.S. dollar starts to recoup some of Wednesday’s losses, says MKS (Switzerland) S.A. “The USD strength persisted throughout the [Asia-Pacific] morning and all the precious complex continued to sell off unabated leading into the SGE [Shanghai Gold Exchange] open,” MKS says. “Right on the open, the g...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Gold has had a nice run from the $1,167 lows from a week ago, rallying over $40 in the last week. It should be no surprise that there are sellers showing up here to take some profits. Gold has acted according to script for the last few weeks. As gold continued its bear market, working its way down to the $1,180 level, the bounce came and took gold back to resistance at the $1,210 level. The action...Read More
The latest news and price moves to start the Asian day on Thursday August 23.Base metals on the London Metal Exchange were mostly higher at the close of trading on Wednesday August 22, with zinc and tin posting sizable gains while the complex benefited from positive market sentiment on US-Sino trade talks. Read more in our live futures report.Here are how prices looked at the close of trading:The...Read More
The latest news and price moves to start the Asian day on Thursday August 23.Base metals on the London Metal Exchange were mostly higher at the close of trading on Wednesday August 22, with zinc and tin posting sizable gains while the complex benefited from positive market sentiment on US-Sino trade talks. Read more in our live futures report.Here are how prices looked at the close of trading:The...Read More
Lead prices on the London Metal Exchange were up over 2% at the close of trading on Thursday August 23, while nickel, copper and tin prices struggled to maintain the midweek relief rally amid a resurgence of US-Sino trade tensions. ...Read More
The prices of base metals on the London Metal Exchange were mostly lower during morning trading on Thursday August 23, with broad weakness coming amid the implementation of corresponding US-Sino trade tariffs, respectively totaling $16 billion. Falling more than 2% over the morning, nickel prices have lost the most ground, but they remain well supported above $13,000 per tonne after falling to the...Read More