German steelmakers have settled their monthly scrap contracts for August with a drop of about ?,?5 ($6) per tonne, sources told Metal Bulletin this week....Read More
I say, "High," you say, "Low." You say, "Why?" And I say, "I don't know." I don't know why you say, "Good buy," I say, "Heck no."- Satirized from Hello Goodbye by: John Lennon / Paul McCartneyYou might say that what we are witnessing today in terms of gold pricing is like a salmon swimming upstream against the current. While there is some truth to that statement, it is a misnomer.Yes, gold prices...Read More
(Kitco News) - Rising energy, growing production costs and lower commodity prices will be major headwinds for the precious metals mining companies going forward, according to one sector analyst. Matthew Badiali, natural resource analyst at Banyan Hill Publishing In an interview with Kitco News, Matthew Badiali, natural resource analyst at Banyan Hill Publishing, said that he is choosing to sit...Read More
(Kitco News) - That is the question many frustrated investors are asking themselves as the yellow metal is seeing only modest buying pressure as half of the world’s economy teeters on the brink of a currency crisis.Although reaction has been relatively small in the gold market, some analysts are expecting the metal’s safe-haven appeal to pick up as the world grapples with Turkey’...Read More
(Kitco News) - Copper discoveries are at record lows and lower exploration budgets are not to blame, said S&P Global, noting that there could be a shortage of quality assets two decades from now.New copper discoveries never recovered following the market crash in 2008 when copper budgets plummeted, S&P Global Market Intelligence senior research analyst Kevin Murphy said in a report publish...Read More
(Kitco News) - A Turkish currency crisis that could spread to Europe is breathing a bit of life into gold as a safe-haven asset. But, analysts are still concerned that the yellow metal faces tough competition against the U.S. dollar.Bill Baruch, president of Blue Line Futures, said in an interview with Kitco News that the gold market could be close to reversing its downward trend as investors are...Read More
(Kitco News) - The largest voting blocs on both Wall Street and Main Street look for the price of gold to rise next week, based on the weekly Kitco News gold survey.Wall Street traders and analysts cited expectations for some kind of bounce from recent weakness, with worries about Turkey leading to potential safe-haven buying.Shares of European banks with exposure to Turkey sold off sharply Friday...Read More
(Kitco News) - Gold prices are at their daily highs and moderately up in late-morning price action Friday. Safe-haven buying interest has kicked in heading into an uncertain weekend on the foreign exchange front. Currency markets are roiled and the U.S. dollar index has hit a 13-month high as the Turkish lira is in trouble, with European countries also having troubling exposure to Turkish debt. Al...Read More
(Kitco News) - Gold prices remain on the back foot, unchanged on the day, following in-line consumer inflation data last month.Friday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.2% in July, after increasing 0.1% in June. The in-line inflation print has left annual data unchanged at 2.9%, which indicates little momentum in rising prise pressures.Monthly core inflation, whic...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
Interesting action in gold overnight -- the equities were selling off hard and so was gold. This is one of the reasons gold is not a hedge against the equity market; it's just a hard asset. One would have thought that based on the pounding gold has taken, it would be spiking higher, but no, the sellers are still the strong hands. There will be a point and time when gold becomes loved again; when a...Read More
The latest news and price moves to start the Asian day on Friday August 10.The price movements of base metals on the London Metal Exchange were mixed at the close of trading on Thursday August 9, typified by sharp drops in the prices of aluminium and nickel, while copper found support despite two consecutive days of stock inflows. Read more here in our live futures report.Here is how prices l...Read More
The latest news and price moves to start the Asian day on Friday August 10.The price movements of base metals on the London Metal Exchange were mixed at the close of trading on Thursday August 9, typified by sharp drops in the prices of aluminium and nickel, while copper found support despite two consecutive days of stock inflows. Read more here in our live futures report.Here is how prices l...Read More
The prices of base metals on the London Metal Exchange were mostly lower at the close of trading on Friday August 10, with most metals erasing their midweek surge after the dollar rocketed to its highest level in over a year. ...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
An overview of the battery raw materials markets and their price moves from the past week.Read More
Key data from the pricing session ending August 10....Read More
Key data from the pricing session ending August 10....Read More
Chinese alumina prices could rise due to declining domestic bauxite quality, with refineries turning to seaborne markets to supplement raw material supply, delegates heard at the China Aluminium Industry Summit in Harbin on August 7-10. ...Read More