(Kitco News) - Holdings of gold by exchange-traded funds around the world fell by 38.6 tonnes in July to 2,393.6 tonnes, the World Gold Council reported Tuesday. This, along with a 2% decline in the gold price during June, pushed assets under management in gold ETFs lower to $94 billion from $98 billion in June, the gold industry organization said. The ETFs trade like a stock but track the price o...Read More
Fortuna Silver Mines Inc. (NYSE: FSM; TSX: FVI) has pushed back the expected start of commercial production at the Lindero gold project in Argentina slightly, now putting this at the end of the third quarter of 2019 instead of the beginning. This was brought about by changes in building and expansion of the camp, explains Jorge A. Ganoza, president, chief executive officer and director. The e...Read More
George Gero, managing director with RBC Wealth Management, is describing the bounce in gold prices so far Tuesday as short covering. This is when traders with short, or bearish, positions buy to offset them. The covering came about after the short side of the market became “crowded” during a recent price pullback, Gero says. “All this means too many bears in the woods, and [a] do...Read More
Gold has been struggling for months. Every rally attempt was met by sellers who unmercifully sold. When markets trend lower, there is always the hope of a dead-cat bounce as traders try to figure where it will bounce from. Gold has failed at every post and the dead-cat bounce attempts failed. Here we are once again at a pivotal spot for gold and we are seeing a bounce, but can it hold? There is on...Read More
The latest news and price moves to start the Asian day on Tuesday August 7.Base metals on the London Metal Exchange consolidated for much of trading on Monday August 6, with closing prices mixed despite broad strength in the US dollar and an ongoing trade spat between the United States and China. Read more here in our live futures report.Here is how prices looked at the close of trading: Electric...Read More
The latest news and price moves to start the Asian day on Tuesday August 7.Base metals on the London Metal Exchange consolidated for much of trading on Monday August 6, with closing prices mixed despite broad strength in the US dollar and an ongoing trade spat between the United States and China. Read more here in our live futures report.Here is how prices looked at the close of trading: Electric...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 7....Read More
Base metals on the London Metal Exchange edged higher at the close of trading on Tuesday August 7, with lead prices climbing 1.5% amid a bout of positivity across the commodities landscape....Read More
Comex copper prices recovered Tuesday morning in the US with supply concerns outweighing fears over a global trade war. ...Read More
Low-grade manganese ore prices continued to slide in the week ended Friday August 3, with currency moves and high stocks knocking demand....Read More
European vanadium prices softened in the week to Friday August 3 amid profit-taking in a slowed summer market, while the US and Chinese markets continued to be supported by tight supplies....Read More
China's imposition of a 10% tariff on US lead concentrate imports is likely to pose difficulties for its already beleaguered smelting industry, as well as its intended target, American miners. ...Read More
European vanadium prices softened in the week to Friday August 3 amid profit-taking in a slowed summer market, while the US and Chinese markets continued to be supported by tight supplies....Read More
A firm dollar against a weakened yuan in the week to Friday August 3 has capped the brief turnaround seen in the Chinese silicon export market a week ago.Metal Bulletin assessed the Chinese grade 553 silicon export price at $1,630-1,710 per tonne on Friday, down 1.2% from $1,660-1,720 per tonne a week earlier. Continued strength in the dollar offset any possible upward move in Chinese silicon expo...Read More
Turkish steel producers went quiet again on Tuesday August 7 after a sharp decline in the exchange value of the country's currency....Read More
Comex copper prices recovered Tuesday morning in the US with supply concerns outweighing fears over a global trade war. ...Read More
Following a lackluster start to the trading week, the three-month base metals prices on the London Metal Exchange were mostly stronger on the morning of Tuesday August 7 amid bouts of bargain hunting, with the complex up by an average of 0.3%.Aluminium and nickel bucked the general strength, with prices off by 0.4% and 0.3% respectively, but the rest were firmer; copper, nickel and tin were up by...Read More
There was some upward movement in flat steel import prices in the United Arab Emirates and Saudi Arabia this week but demand remains poor, sources told Metal Bulletin on Tuesday August 7....Read More
China's domestic hot-rolled coil prices remained relatively high despite moving in opposite directions on Tuesday August 7 amid expectations of a drop in supply in the near future, while export prices continued to decline amid sparse trading....Read More
China's ferrous futures were subdued during morning trading on Tuesday August 7, with both steel and steelmaking raw materials contracts ending the session lower on cooling sentiment. ...Read More