(Kitco News) - Gold had another tough week, breaching the $1,200 an ounce level and struggling to find its way back. But, analysts remain confident that the bottom is near and the yellow metal will see better days soon."It is time to bottom out as we expect limited upside in the U.S. dollar, a stabilization and some recovery in the Chinese yuan,” said ABN Amro precious metals and diamond ana...Read More
(Kitco News) - Contrary opinion in the trading business is defined as going (trading) against the popular or most widely held opinions in the marketplace. This notion of "going against the grain" of popular market opinion is difficult to undertake, especially when there is a steady drumbeat of fundamental information that seems to corroborate the popular opinion. In this case, the metals...Read More
(Kitco News) - Main Street may be more bearish than ever on the direction of gold prices in the next week, while Wall Street leans bullish, based on the weekly Kitco News gold survey.Over the years, Main Street has tended to be mostly bullish on the metal. However, retail investors have called gold to be lower in three of the last four weeks, and perhaps never by as large of a percentage as this w...Read More
The “summer doldrums” have been particularly cruel to gold bulls this year with safe haven capital continuing to rush into the U.S. dollar, as opposed to the traditional safe haven of gold. There has also been speculation that Turkey may be having to sell gold recently due to their current severe financial crisis, which would explain the acceleration in bullion’s decline this wee...Read More
(Kitco News) - Gold and silver prices are slightly lower in early U.S. trading Friday, on a quieter day in world markets. Selling interest in the metals is limited by a weaker U.S. dollar index and firmer crude oil prices so far today. December gold futures were last down $0.10 an ounce at $1,183.80. September Comex silver was last down $0.093 at $14.62 an ounce. Global stock markets were mixed ov...Read More
Gold is attracting "robust" physical buying in Asia, helping prices bounce modestly overnight, says MKS (Switzerland) S.A. As of 7:38 a.m. EDT, spot metal was $2.55 higher to $1,176.45 an ounce. "Gold saw relatively muted price action during Asian trade today, finding respite amid a weaker greenback to hold support around $1,172, with Asian physical demand continuing to remain robust," MKS says. "...Read More
The metals markets are attempting to stop the bleeding and find a bottom. It appears that the sellers are running out of steam. Although we have yet to see a reasonable rally and Thursday's small attempt at one failed, gold was able to hold above the $1,180 level. The type of action we are seeing now could be known as base or bottom building and a rally could be near. There is a lot of work to be...Read More
The latest news and price moves to start the Asian day on Friday August 17.The prices of base metals on the London Metal Exchange were higher across the board at the close of trading on Thursday August 16, with nickel prices topping broad complex gains. Read more here in our live futures report.Here is how prices looked at the close of trading:Increased cobalt demand among buyers suggest...Read More
The latest news and price moves to start the Asian day on Friday August 17.The prices of base metals on the London Metal Exchange were higher across the board at the close of trading on Thursday August 16, with nickel prices topping broad complex gains. Read more here in our live futures report.Here is how prices looked at the close of trading:Increased cobalt demand among buyers suggest...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The prices of base metals on the London Metal Exchange ended mostly lower at the close of trading on Friday August 17, with most metals struggling to recover fully from the midweek slide amid continued strength in the US dollar. ...Read More
Premiums for aluminium billet in Europe were mostly firm this week with participants trying to secure metal for the fourth quarter and beyond. ...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week....Read More
China's monthly zinc output dropped to its lowest in five years in July, echoing lower output of galvanised steel and capacity cut of major Chinese zinc smelters. ...Read More
Alcoa workers in Western Australia will continue to strike indefinitely after the company and the Australian Workers' Union (AWU) failed to come to a compromise....Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Key data from the pricing sessions in London and Shanghai on Friday August 17. ...Read More
The global scrap markets were significantly affected by the political tensions between the United States and Turkey during the working week from Monday August 13 to Friday August 17, and by the collapse in Turkish import prices at the end of the week....Read More
Prices for containerized shredded scrap imported into India fell by more than $10 per tonne this week due to the crisis in Turkey having a knock-on effect, sources told Metal Bulletin on Friday August 17....Read More