(Kitco News) - Traders are watching the release of July nonfarm payroll numbers this morning. Job creation numbers are expected to come in around 200,000, but the focus will be on wage pressures. If wage growth begins to nudge closer to 3% annualized, the market may begin to factor in a more aggressive Fed. We continue to see an opportunity for a bounce but gold needs to maintain the $1,207 level...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
Gold remains under pressure and the sellers just won't go away. For months, gold has felt like an elephant was sitting on top of it. Every day I think this will be the day that we see at least a dead-cat bounce, but every day there is disappointment. The action in gold has been predictable based on the footprint that is being left by the money flow. It's obvious the strong hands are the sellers an...Read More
The latest news and price moves to start the Asian day on Friday August 3.Base metals prices on the London Metal Exchange posted split moves at the close of trading on Thursday August 2, with half of the complex ending lower amid pressure from the re-emergence of trade tensions between the United States and China in addition to a seasonal summer slowdown. Read more in our live futures re...Read More
The latest news and price moves to start the Asian day on Friday August 3.Base metals prices on the London Metal Exchange posted split moves at the close of trading on Thursday August 2, with half of the complex ending lower amid pressure from the re-emergence of trade tensions between the United States and China in addition to a seasonal summer slowdown. Read more in our live futures re...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Base metals on the London Metal Exchange were mostly higher at the close of trading on Friday August 3, supported by a slight uptick in the yuan and a dip in the dollar index.Over this week, the re-emergence of trade tensions between the United States and China was the driver of a broad downtrend in metals prices, despite broadly positive fundamentals across the complex. In particular,...Read More
KAZ Minerals is buying the Baimskaya copper project in Russia to enable it to boost copper production at a lower cost, the company said this week.KAZ has identified the project, which is located in the Chukotka region in Russia's Far East, as one of the world's most significant undeveloped copper assetsFirst production is expected around 2026.Baimskaya has the potential to become a large-scale, lo...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
China's domestic spot battery-grade lithium carbonate prices continued dropping this week with most producers offering lower prices to boost sales, while battery-grade lithium hydroxide prices were static despite pressure for lower prices.Lithium carbonate battery-grade spot prices continue downtrend due to lower offers and weak downstream demand.Lithium hydroxide battery-grade spot prices held un...Read More
KAZ Minerals is buying the Baimskaya copper project in Russia to enable it to boost copper production at a lower cost, the company said this week.KAZ has identified the project, which is located in the Chukotka region in Russia's Far East, as one of the world's most significant undeveloped copper assetsFirst production is expected around 2026.Baimskaya has the potential to become a large-scale, lo...Read More
Unionized workers at the Mount Polley copper mine in Canada have voted 79% to accept a new three-year contract, ending a 10-week strike. The contract as an effective date of January 1, 2018, and employees are currently being recalled to work to reestablish normal operations, according to the mine owner Imperial Metals Corp. The collective agreement with USW Local 1-2017 had terminated on December...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
As a result of a technical error, Metal Bulletin's low-grade and high-grade cobalt price assessment for August 3 was published late on the Metal Bulletin price book.Metal Bulletin assessed low-grade and high-grade cobalt prices both at $34.40-35.55 per lb, in-warehouse, on Friday August 3, both down from the previous assessment of $34.75-36 per lb.To provide feedback on the delayed publication of...Read More
Global scrap prices continued to fall in the week ended Friday August 3 due to weak demand pushing prices down.The markets in Turkey, Taiwan and the United States were all suffering from poor demand this week. And although prices ticked up slightly in the Indian market, sentiment remained negative due to the low level of demand and the influence of the faltering Turkish market.Turkey importsThe Tu...Read More
Austenitic prices in Europe for alloy steel scrap have been stable this week in typically quiet summer activity, while in the UK some small reductions reflect slightly softer nickel prices. Overall, however, participants described both markets as essentially static. With most mills carrying out maintenance work, demand is low.Supply is available but not abundant and there is no pressure on p...Read More
The UK light iron scrap market has been flat this week, stabilizing after losses a week earlier, with market attention focused on the start of monthly delivery negotiations in the UK for settlements to domestic consumers.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-120 ($118-157) per tonne on Friday August 3, unchanged from a week ago....Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Friday August 3, with the complex down by an average of 0.2%.Aluminium and nickel prices were unchanged to slightly higher, while lead prices led on the downside with a 0.6% fall and copper prices were off by 0.3% at $6,124 per tonne. This follows a mixed day on Thursday, when aluminium, nic...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
As a result of a technical error, Metal Bulletin's low-grade and high-grade cobalt price assessment for August 3 was published late on the Metal Bulletin price book.Metal Bulletin assessed low-grade and high-grade cobalt prices both at $34.40-35.55 per lb, in-warehouse, on Friday August 3, both down from the previous assessment of $34.75-36 per lb.To provide feedback on the delayed publication of...Read More