And so it begins. The United States will impose import tariffs on steel and aluminium, and with depressing inevitability other nations and trading blocs will cry "foul" and reach for the drawer marked "retaliation", almost certainly leading to a wider and broader trade war.It is not difficult to imagine how this will pan out for the wider global economy, geopolitics, overall trade flows and even t...Read More
And so it begins. The United States will impose import tariffs on steel and aluminium, and with depressing inevitability other nations and trading blocs will cry "foul" and reach for the drawer marked "retaliation", almost certainly leading to a wider and broader trade war.It is not difficult to imagine how this will pan out for the wider global economy, geopolitics, overall trade flows and even t...Read More
The continuation of yesterday’s strong upside move in gold was short-lived with today’s price decline erasing much of Tuesday’s $17 gain.Gold is trading under strong pressure today in reaction to the robust ADP jobs report and the release of the Federal Reserve’s Beige Book. As of 5:00 PM Eastern standard time, gold futures are currently down -$8.90 at $1326.30.Gold had bee...Read More
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday that many online trading platforms for cryptocurrencies should be registered with the regulator and subject to additional rules, in a further sign regulators are cracking down on the digital currency sector.In a statement, the SEC said these “potentially unlawful” platforms may be giving investors an u...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
NEW YORK (Reuters) - Bitcoin fell to a 1-1/2 week low on Wednesday after the U.S. Securities and Exchange Commission warned of “potentially unlawful” systems that trade crypto-currencies, which investors may use with an unearned sense of safety.At 1:07 p.m. (1807 GMT), the world's biggest and best-known digital currency BTC=BTSPwas last down 7.53 percent at $9,924.03 on the Luxembourg...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
(Kitco News) - Mining investors might want to pay more attention to Canadian projects as the country is expected to have strong production growth in a world that is seeing a decline in the quality of gold deposits, according to one search firm. Canada's largest gold mine, Malartic Mine, Quebec, Canada In a presentation during the 2018 Prospectors & Developers Association of Canada (PDAC) c...Read More
(Kitco News) - One mining analyst said that he thinks the threat of a global trade war is overblown and investors should instead look at all the good President Donald Trump has done for the mining sector, particularly for companies focused in the U.S.Mickey Fulp, creator of the Mercenary Geologist newsletter, said in an interview with Kitco News on the sidelines of the 2018 Prospectors & Devel...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
The latest news and price moves to start the Asian day on Wednesday March 7.The three-month copper contract on the London Metal Exchange rebounded to more than $7,000 per tonne for the first time this month at the 5pm close on Tuesday March 6, with the metal undergoing a short-covering rally. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex cop...Read More
The latest news and price moves to start the Asian day on Wednesday March 7.The three-month copper contract on the London Metal Exchange rebounded to more than $7,000 per tonne for the first time this month at the 5pm close on Tuesday March 6, with the metal undergoing a short-covering rally. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex cop...Read More
Spain's Atlantic Copper will be looking to maximize output at its Huelva smelter even as it expects the copper concentrates market to tighten further, the company's chief executive officer (CEO) Javier Targhetta told Metal Bulletin in an interview.Atlantic Copper, which is the third largest copper smelter in Europe and acts as a key outlet for copper concentrate units from mines within its owner F...Read More
The latest news and price moves to start the Asian day on Wednesday March 7.The three-month copper contract on the London Metal Exchange rebounded to more than $7,000 per tonne for the first time this month at the 5pm close on Tuesday March 6, with the metal undergoing a short-covering rally. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex cop...Read More
The restriction on imports of some copper scrap products to China has already caused the industry to make some process changes but many questions are still unanswered, a panel of scrap experts said at the Metal Bulletin Copper conference.The number of licenses granted by the Chinese government for copper scrap imports dropped by 94% year on year to account for 136,685 tonnes in the first two...Read More
Base metals prices on the London Metal Exchange slumped by the 5pm close on Wednesday March 7, with uncertainty stemming from the latest developments over the US' Section 232 probe leading to a sell-off.Aluminium was the most traded metal of the complex today, with more than 20,000 lots changing hands by the close. Its price fell 1.6% - it concluded below support at $2,100 per tonne.The cash/three...Read More
Nickel premiums in Europe crept higher on Tuesday March 7 on tight availability and declining London Metal Exchange nickel stocks, while Asian nickel premiums were stable due to the sustained negative arbitrage in China and amid slow trading activity. European nickel premiums higher due to tight availability Quiet trading activity reported in both China and other Asian regions US nick...Read More
Around 2.5 million tonnes of copper output is exposed to high disruption risks this year in Chile, the country's copper commission said at Metal Bulletin's International Copper conference in Madrid on Wednesday March 7. The figure represents 43.4% of the total forecast output for 2018 from the world's top copper producing country, Jorge Cantallopts, director of public planning and research with Co...Read More
Europe's largest copper smelter, Aurubis, is open to exploring merger and acquisition (M&A) opportunities outside of the continent while it looks to double down on processing and refining raw copper, chief executive officer J? 1/4 rgen Schachler told Metal Bulletin in an interview. "The whole world is becoming one region. Copper and its pre-products are travelling quite well so we are looking arou...Read More
Spain's Atlantic Copper will be looking to maximize output at its Huelva smelter even as it expects the copper concentrates market to tighten further, the company's chief executive officer (CEO) Javier Targhetta told Metal Bulletin in an interview.Atlantic Copper, which is the third largest copper smelter in Europe and acts as a key outlet for copper concentrate units from mines within its owner F...Read More