Over the last three consecutive weeks, gold has closed on Friday below the opening price on Monday. Even though there is still one more trading day this week, it seems probable that tomorrow’s closing price will be below Monday’s opening price.After trading to a double top at $1360 during the week of February 12, market forces and investor sentiment have resulted in lower pricing on th...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
The first quarter of 2018 saw volatility roar back into the marketplace creating massive uncertainty across all financial assets.Equity markets have fallen from their record highs as bitcoin has lost more than 50% of its value.It is time to hear from main street retail investors. Where are you putting your investment dollars for the rest of the year? What investment has the most potential in 2018...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session lower and near their daily lows Thursday. Both futures markets were poised to close at two-week low closes today. A stronger U.S. dollar on this day and still-keen investor risk appetite around the globe kept buyers of the safe-haven metals on the sidelines. April Comex gold futures were last down $8.80 an ounce at $1,316.90. M...Read More
(Kitco News) - Gold prices may ease in the near to intermediate term as markets factor in Federal Reserve rate hikes in 2018, but the downside should be limited by political uncertainty and trade tensions, according to a report by Standard Chartered. Later in the year, the metal should draw support from a weaker U.S. dollar and rising inflation expectations, the bank said in a research note Wednes...Read More
(Kitco News) - Gold prices appear to be struggling Thursday , in part because the metal is seeing little love from the White House’s new national economic advisor Larry Kudlow.In an interview with CNBC Wednesday, Kudlow said that he supports a strong U.S. dollar policy adding, “I would buy King Dollar and I would sell gold.”Looking at the U.S. dollar, Kudlow said that a great cou...Read More
(Kitco News) - Gold continues to wobble around in a tight range, with support around the $1,322 level and resistance overhead at $1,328. The tariff scare has been watered down considerably with the Trump administration granting exemptions to a number of countries. Traders are eyeing any response from China, where President Trump continues to focus on the large trade deficit between the U.S. and th...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
From a trader's standpoint, there is no worse pattern than the consolidation or congestion pattern. The pattern stands for the greatest time of uncertainty. The bulls get excited and push markets up to a certain point, and bears show up with new money and sell. The markets make a series of double tops and double bottoms and go nowhere. Gold is in that exact pattern. It has been consolidating since...Read More
The latest news and price moves to start the Asian day on Thursday March 15.Base metals prices on the London Metal Exchange were on divergent paths at the close on Wednesday March 14, with copper driving higher while the rest of the complex retreated. Read more here in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has learned that Teck Resources ha...Read More
The latest news and price moves to start the Asian day on Thursday March 15.Base metals prices on the London Metal Exchange were on divergent paths at the close on Wednesday March 14, with copper driving higher while the rest of the complex retreated. Read more here in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has learned that Teck Resources ha...Read More
The latest news and price moves to start the Asian day on Thursday March 15.Base metals prices on the London Metal Exchange were on divergent paths at the close on Wednesday March 14, with copper driving higher while the rest of the complex retreated. Read more here in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has learned that Teck Resources ha...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close on Thursday March 15, apart from zinc and lead.A stronger dollar and a hesitant market saw copper and nickel both fall significantly, with the three-month copper price closing $68.50 per tonne lower. The red metal is finding it hard to push back and stabilize above $7,000 per tonne and has undone all of Wednesday's gain...Read More
Major international mining companies operating in the Democratic Republic of Congo (DRC) have resigned from the country's Chamber of Commerce ahead of a month of talks with the government to resolve their dispute over the new mining code. A legal and technical team representing Randgold Resources, AngloGold Ashanti, Glencore PLC, Ivanhoe Mines, Gold Mountain International/Zijin Mining Group, MMG (...Read More
Comex copper prices reversed lower on the morning of Thursday March 15 in the United States amid general hesitancy from traders and a stronger dollar.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped by 4.55 cents or 1.4% to $3.113 per lb. Yesterday, the contract reached a two-week high at $3.192 per lb."The limited rebound indicates that traders remain ske...Read More
Norwegian ferro-silicon producer Finnfjord Smelteverk will cut about 5,000 tonnes of production between April and June of this year because of planned maintenance to its furnaces, according to an industry source.The company, which has its plant in the north of the country, operates three furnaces, one with capacity for 20,000 tonnes per year and two with capacities for 40,000 tpy."Maintenance shou...Read More
Spot prices for European molybdic oxide and ferro-molybdenum have eased in Metal Bulletin's midweek assessment, with dealers booking profits after a market rally for much of the year to date.Market participants expect the move to persist in the near term, with lower spot prices already being offered and expected to be booked soon, they said.Oxide prices have dropped on around 140 tonnes of reporte...Read More
Spot prices for European molybdic oxide and ferro-molybdenum have eased in Metal Bulletin's midweek assessment, with dealers booking profits after a market rally for much of the year to date.Market participants expect the move to persist in the near term, with lower spot prices already being offered and expected to be booked soon, they said.Oxide prices have dropped on around 140 tonnes of reporte...Read More
BHP has invited unions representing workers at Escondida, the world's largest copper mine, to high-stakes labor contract talks that were originally set to commence on June 1, the union said."The union has summoned partners this and next week, to discuss the invitation and decide whether to accept or reject it," the Union No. 1 said in a statement.BHP...Read More
The London Metal Exchange is modifying its technology to allow it to launch multiple contracts at once, something it plans to do at the end of the year, according to the exchange's chief executive officer. Matthew Chamberlain said that the move, designed to add a level of dynamism to the LME's systems, would delink the launch of new contracts from the release of new technology. The exchange is the...Read More