(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
(Kitco News) - Gold and silver prices are solidly lower and near their daily lows in early-afternoon U.S. trading Wednesday. The precious metals sold off in sympathy with a slumping raw commodity sector today, after the U.S. hit China with another volley of trade sanctions. A higher U.S. dollar index today also is a negative for the precious metals markets. August gold futures were last down $10.9...Read More
(Kitco News) - Despite the threat of a growing trade war, one copper-mining chief executive officer said that he is optimistic that shrinking supply will help the base metal weather the current storm. Paul West-Sells, president and CEO of Western Copper and Gold Industrial metals are being hard hit as the U.S. government escalates its trade war with China. Copper, in particular, is feeling the...Read More
COPPER POSITIONAL CALLCopper Positional Call – BUY Copper Aug at CMP 421.0 Add more at price 415 with SL 409 for Target 432 – 439 Read More
MCX ZINC POSITIONAL CALLMcx Zinc Positional Call – BUY Zinc August at CMP 174.25 Add more at price 170 with SL Below price 167 for Target 179 – 184.50 Read More
A muscular U.S. dollar is pressuring gold prices, says BMO Capital Markets and MKS (Switzerland) S.A. As of 8:35 a.m. EDT, the September dollar index was 0.131 point higher to 94.020. Meanwhile, Comex August gold was down $4.80 to $1,250.60 an ounce. “Gold prices have also suffered from the stronger dollar, dropping back to ~1,250/oz while silver dipped back below $16/oz,” BMO says. Al...Read More
(Kitco News) - Gold prices remain under pressure, and are seeing little reaction to hotter-than-expected producer inflation pressures.Wednesday, the U.S. Labor Department said its Producer Price Index (PPI) rose 0.3% in June following an increase of 0.3% in May; the data was stronger than expected with economists' forecasting an increase of 0.2%. For the year, producer prices increased by 3.4%. &l...Read More
B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG; NSX: B2G) reports that second-quarter gold production was roughly double the same period a year ago as the company’s new Fekola gold mine in Mali exceeded expectations. Consolidated output was a quarterly record 240,093 ounces, a jump of 98% (or 118,645 ounces) from the year-ago quarter and also 7% (or 16,308 ounces) above budget, B2Gold says. The...Read More
On Tuesday afternoon, President Trump issued a new round of tariffs on $200 billion of Chinese goods, sending equities to a 200-point sell-off in less than five minutes. This happened at 4:55 p.m. EDT as the extended futures session was about to close. The selling continued overnight, adding another 200 points to the downside with the VIX popping 1.00 higher. While all this action was going on, go...Read More
The latest news and price moves to start the Asian day on Wednesday July 11.Base metals prices on the London Metal Exchange ended predominantly lower on Tuesday July 10, led by a more than 2% drop in zinc prices while ongoing uncertainty around Sino-US trade relations hampers the complex. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper...Read More
The latest news and price moves to start the Asian day on Wednesday July 11.Base metals prices on the London Metal Exchange ended predominantly lower on Tuesday July 10, led by a more than 2% drop in zinc prices while ongoing uncertainty around Sino-US trade relations hampers the complex. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper...Read More
The latest news and price moves to start the Asian day on Wednesday July 11.Base metals prices on the London Metal Exchange ended predominantly lower on Tuesday July 10, led by a more than 2% drop in zinc prices while ongoing uncertainty around Sino-US trade relations hampers the complex. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper...Read More
Tin premiums in Europe have softened over the week to Tuesday July 10 after dwindling demand began to take root over the summer period, while premiums in the United States and China held steady on abundant supply and minimal spot activity. Supply flows unsettle European tin market Rotterdam 99.9% tin premiums soften as demand weakens China, US premiums flat Tin premiums fall again in...Read More
Lead prices on the London Metal Exchange fell over 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Lead prices on the London Metal Exchange fell by more than 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Fueled...Read More
An open import arbitrage in China helped support nickel premiums in the week to Tuesday July 10, while premiums were unchanged in Europe and the United States. Open import window push premiums in China higher Premiums unchanged in Europe in quieter summer season US demand and premiums stable Chinese premiums up amid open import window Shanghai-bonded Nickel premiums rose at the l...Read More
Largo Resources Ltd has reached yet another milestone at the Maracas Menchen mine after achieving a new average daily production record of 29.4 tonnes of vanadium pentoxide (V2O5) per day during the month of June.The Toronto, Canada-based vanadium producer saw total production reach 2,458 tonnes of V2O5 at the Brazilian mine during the second quarter of 2018, up 13% from 2,183 tonnes in the same y...Read More
Largo Resources Ltd has reached yet another milestone at the Maracas Menchen mine after achieving a new average daily production record of 29.4 tonnes of vanadium pentoxide (V2O5) per day during the month of June.The Toronto, Canada-based vanadium producer saw total production reach 2,458 tonnes of V2O5 at the Brazilian mine during the second quarter of 2018, up 13% from 2,183 tonnes in the same y...Read More
Turkish steel mills declined to make any bookings of deep-sea scrap cargo on Wednesday July 11 but the market widely expects them to purchase more material for August.The mills had returned to the deep-sea scrap markets, buying four cargoes on July 6 and Tuesday July 10 - they paid $343-348 per tonne cfr for USA-origin HMS 1&2 (80:20).More...Read More
Comex copper prices set a new low this morning on July 11 in the US, with President Donald Trump threatening an additional $200 billion in tariffs on Chinese goods.Copper for September settlement on the Comex division of the New York Mercantile Exchange tumbled 8.45 cents or 3% to $2.7550 per lb. Continued uncertainty surrounding trade relations between the United States and China have added...Read More
An escalation in the United States' trade war with China, with another $200 billion of Chinese goods now potentially facing tariffs, has rattled base metals prices during early trading on Wednesday July 11. Three-month base metals prices on the London Metal Exchange were down across the board by an average of 2.8%, led by a 4.1% decline in zinc. Three-month copper was down by 3.5% at $6,124 per to...Read More