(Kitco News) -Critical support in the gold market is holding for now but analysts are keeping a close eye on the $1,200-an-ounce level as the U.S. dollar finds new momentum in the marketplace.Growing uncertainty and volatility in emerging-market currencies is weighing on gold prices as the U.S. dollar index trades at session highs. In particular, the Argentina peso and Turkish lira have seen...Read More
(Kitco News) - Gold prices are trading moderately lower in morning U.S. dealings Thursday. The yellow metal was steady to slightly lower at the start of U.S. futures daytime trading, but have dropped as the U.S. dollar index has pushed to its daily high and is trading moderately up. The greenback is being supported today partly on fresh worries about secondary currency markets continuing to erode...Read More
(Kitco News) - Gold prices have pushed into positive territory after inflation pressures have officially hit the Federal Reserve's target.Thursday, U.S. Department of Commerce said that its Core Personal Consumption Expenditures Index, increased also increased 0.2% in July, in line with expectations. Annually, core inflation, which is the Fed's preferred inflation measure increased a tick higher t...Read More
Investors are returning to gold exchange-traded funds, says BMO Capital Markets. Analysts cite Bloomberg data showing that global ETFs added some 225,000 ounces to holdings on Wednesday. “This is the highest single-day inflow since mid-April,” BMO says. Still, total holdings are down 0.5% from the start of the year. Gold ETFs trade like a stock but track the price of the commodity, wit...Read More
The latest news and price moves to start the Asian day on Thursday August 30.Base metal prices on the London Metal Exchange were largely lower at the close of trading on Wednesday August 29, pressured by investor uncertainty over trade relations between the United States and China while positive second-quarter gross domestic product growth indicated strength in the US economy. Read more...Read More
The latest news and price moves to start the Asian day on Thursday August 30.Base metal prices on the London Metal Exchange were largely lower at the close of trading on Wednesday August 29, pressured by investor uncertainty over trade relations between the United States and China while positive second-quarter gross domestic product growth indicated strength in the US economy. Read more...Read More
The prices of base metals on the London Metal Exchange had mostly fallen by the close of trading on Thursday August 30, hampered by continued uncertainty about the trade relations of the United States, while a resurgence of volatility across emerging markets' currencies weakened investment....Read More
Aluminium prices on the London Metal Exchange edged marginally lower during morning trading on Thursday August 30, tempered by US president Trump's decision to exempt some aluminium products from import tariffs, while another sizeable fresh cancellation added upward pressure to prices. ...Read More
Base metals prices on the Shanghai Futures Exchange were broadly up during Asian morning trading on Thursday August 30, with only copper and nickel bucking the trend.Copper prices underperformed on the SHFE during the early session on Thursday, with the metal's most-traded copper contract falling to 48,670 yuan ($7,134) per tonne as at 10.40am Shanghai time, down by 0.3% or 160 yuan per tonne from...Read More
Specialty alloys producer Afarak does not plan to make a direct replacement of its head of marketing, Michael Lillja, after he leaves the company. ...Read More
Key data from the Wednesday August 29 pricing session in Shanghai. Cobalt metal - China domestic cobalt metal price dipped during the midweek pricing session to 470,000-500,000 yuan per tonne ($26.94-28.66 per lb China VAT-free), following local producers' destocking activities. - Spot trades have been thin with Jinchuan branded cobalt changing hands at 470,000-475,000 yuan per tonne. Offers for i...Read More
Turkish steel producers returned to the deep-sea scrap markets for two new deals on Thursday August 30, at prices up by around 3%, despite it being a national holiday in the country....Read More
Key data from the Wednesday August 29 pricing session in Shanghai. Cobalt metal - China domestic cobalt metal price dipped during the midweek pricing session to 470,000-500,000 yuan per tonne ($26.94-28.66 per lb China VAT-free), following local producers' destocking activities. - Spot trades have been thin with Jinchuan branded cobalt changing hands at 470,000-475,000 yuan per tonne. Offers for i...Read More
Domestic prices for hot-rolled coil (HRC) in the EU were expected to move upward despite competitive import offers from Turkey, sources told Metal Bulletin on Thursday August 30....Read More
International metals group Liberty House will almost double production of hot rolled coil (HRC) at its Newport rolling mill in South Wales, UK, in 2018, the company said on Thursday August 30....Read More
China's hot-rolled coil prices fell on Thursday August 30 on expectations of an increase in supply amid rising production and the absence of signs pointing to restrictions tied to the winter heating season being rolled out in September....Read More
Steel billet import prices in Egypt continued to fall in the week ended Thursday August 30, with lower offers coming from the CIS region, while domestic rebar prices also decreased....Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. ...Read More
China's domestic rebar prices moved down on Thursday August 30, in line with weak demand and lower futures. ...Read More
The export market for pig iron from the Commonwealth of Independent States was quiet on Thursday August 30 because of expectations of possible scrap price reductions in September in the key outlets of the United States and Italy....Read More