(Kitco News) - The gold market is holding support above $1,200 an ounce as the Federal Reserve remains optimistic on the U.S. economy and continues to see a gradual rise in interest rates, according to the minutes of the monetary policy meeting at the start of the month.Gold is seeing little reaction to the minutes as there were few surprises in the comments from central bankers. Markets are alrea...Read More
Image by:Pavel Ignatov / Shutterstock.com (Kitco News) - The S&P 500 Index has reached a historical milestone: Wednesday marked the longest bull market run in history and one market analyst said that this is the time that investors need to move into precious metals and mining stocks. Fred Hickey, creator of the investment newsletter The High-Tech Strategist In an exclusive inte...Read More
(Kitco News) - Switzerland’s trade data suggest that as of July, demand for gold in the physical market was still sluggish, analysts said.The country’s exports during the month were 115 tonnes, a year-on-year decline of 3% and the lowest July total in four years, said the consultancy Metals Focus. However, gold demand from two key nations - India and China - was mixed, said Commerzbank...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold prices hung onto earlier gains after sales of previously owned U.S. homes fell by 0.7% in July to a seasonally adjusted and annualized pace of 5.34 million, according to a report Wednesday from the National Association of Realtors.Around 10:03 a.m. EDT, Comex December gold was up $3.60 at $1,203.70 an ounce....Read More
Russia has increased its official-sector holdings of gold at a time when the U.S. is increasing economic sanctions on the country, says commodity brokerage SP Angel. “Russia increased gold reserves the most in July than any other month this year amid a potential new round of U.S. sanctions,” the firm says. Analysts cited news reports saying that Russia’s central bank bought 26.1...Read More
(Kitco News) - Gold touched our target of $1,200 that we mentioned on Monday morning. We do not yet believe that a fundamental change has occurred in the downtrend but assume that the bears are becoming increasingly nervous. The release of the Fed minutes this afternoon, from their the August policy meeting, will be scrutinized for signs that the Fed is becoming more cautious on their hawkish its...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
Now that the metals have hit our downside targets and have bounced, is it time to buy? The answer is not as easy as one might think. As an investor, you can always buy as long as you are investing money that you don't need for the mortgage, car payment or other daily living expenses. As a trader, the buy was near the $1,180 level. It's now time to watch and see how far this bounce can take gold. S...Read More
The latest news and price moves to start the Asian day on Wednesday August 22.Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Tuesday August 21, underpinned by a retreat in the United States' dollar while international trade rifts continue to deter commodity investment. Read more in our live futures report.Here are how prices looked at the close o...Read More
The Brazilian steel sector has urged the government to refrain from taking measures to open up the economyto free trade and increased imports. ...Read More
The latest news and price moves to start the Asian day on Wednesday August 22.Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Tuesday August 21, underpinned by a retreat in the United States' dollar while international trade rifts continue to deter commodity investment. Read more in our live futures report.Here are how prices looked at the close o...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Wednesday August 22, marked by significant gains in three-month zinc and tin prices while positive market sentiment about the US-China trade talks boosted the complex....Read More
Zinc premiums became firmer across Asia over the week ending Wednesday August 22, with an open import arbitrage to China sending Shanghai premiums to nine-month highs....Read More
Tin premiums were stable across the board on Tuesday August 21, with a recent swing in the metal's London Metal Exchange cash/three-month spread having little effect on the physical market. ...Read More
The depreciation of the South African rand since early August has sparked a debate in the chrome ore market over whether South African suppliers should be expected to cut offers prices into China. ...Read More
The depreciation of the South African rand since early August has sparked a debate in the chrome ore market over whether South African suppliers should be expected to cut offers prices into China. ...Read More
In the battle between macro and fundamental copper price drivers, copper bears hold the strongest of all trump cards - trade war. Copper's physical market is showing some of its most bullish signals in years, with premiums, scrap discounts and trade flows all indicating heightened demand over supply. Despite this, the London Metal Exchange three-month copper dropped sharply from a five-year high o...Read More
Minor metals suppliers are moving indium and other minor metals into the United States in anticipation they will be swept up in US President Trump's burgeoning trade war with China. "We have been shipping indium into the US because of the threat of duties," one trader told Metal Bulletin. "We sell a lot of indium in the US, and almost all of it comes from China." The US first imposed sweeping tari...Read More
Turkish steel producers concluded a third day without trading due to the religious holiday of Eid al-Adha on Wednesday August 22, with some fearing that traders may not come back to the market until September....Read More
Base metals prices were mixed on the London Metal Exchange on the morning of Wednesday August 22, with weakness seen in copper,lead and zinc, while nickel and tin prices increased and aluminium remained unchanged. Copper was down by 0.6%, lead down 0.2% and zinc down 0.9%, while nickel was up 0.8% and tin up 0.3%. Three-month copper prices were recently quoted at $6,027 per tonne.Vo...Read More