Aluminium Tips – SELL Aluminiuim at CMP 139.25 for Target 138.25 – 137.75 with SL Above price 140.05 Read More
(Kitco News) - The gold market will remain at the mercy of the U.S. dollar, and some analysts warn that the metal’s downtrend in place since April is not expected to change anytime soon.Gold is heading for another week in negative territory with its fourth drop in five weeks as prices have slumped to a new 12-month low. August gold futures last traded at $1,242.60 an ounce, down 1% from the...Read More
(Kitco News) - Wall Street looks for the recent slide in gold prices to continue, while the largest block of Main Street voters is bullish, according to the Kitco News weekly survey.Nineteen market professionals took part in the survey. There were 12 votes, or 63%, calling for gold prices to fall. There were four votes, or 21%, calling for gold to rise, while three voters, or 16%, look for a sidew...Read More
Today Zinc – Buy Zinc at CMP 175.60 Add more at price 174 with SL 173 for Target 178.50 – 179.50 Read More
As gold continues to get hammered, there doesn't appear to be any new money buyers willing to step in here. This morning gold traded as low as $1,236. As we wrote yesterday, the key levels are 1,235-$1,240. Failure here could lead to $1,200 and below. The trading action has been about as ugly as it can be, basically straight down about $120 with hardly a rally. We can blame economic data, the stro...Read More
Hecla Mining Co.’s (NYSE: HL) chief executive says the company’s mine output topped its expectations during the second quarter. Hecla reports silver production of 2.6 million ounces, down slightly from 2.8 million in the same period a year ago. Gold production rose to 60,313 ounces from 52,561. Hecla also mines some base metals as a by-product. Silver-equivalent production totaled 10.5...Read More
Gold is on the defensive early Friday on continued U.S. dollar strength, says Afshin Nabavi, head of trading at MKS (Switzerland) SA. Around 8:10 a.m. EDT, Comex August gold was $8.60 lower to $1,238 an ounce. The spot dollar index was up 0.29 point to 95.09. “It looks like the dollar is the king for the time being,” Nabavi says. “It’s put a lot of pressure on the metals.&r...Read More
(Kitco News) - Gold and silver prices are moderately lower in early U.S. trading Friday. Both metals have just dropped to fresh 12-month lows. A rally in world stock markets, including major U.S. stock indexes hitting multi-month highs overnight, show there is little risk aversion in the marketplace at present to help out the safe-haven metals. A solid rebound in the U.S. dollar index this week is...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
The latest news and price moves to start the Asian day on Friday July 13.With the exception of aluminium, base metals prices on the London Metal Exchange staged a modest recovery at the close of trading on Thursday July 12, led by a 2.2% surge in nickel prices, while the market continues to adjust to the escalating trade rift between the United States and China. Read more in our live futures...Read More
The latest news and price moves to start the Asian day on Friday July 13.With the exception of aluminium, base metals prices on the London Metal Exchange staged a modest recovery at the close of trading on Thursday July 12, led by a 2.2% surge in nickel prices, while the market continues to adjust to the escalating trade rift between the United States and China. Read more in our live futures...Read More
Copper concentrate treatment and refining charges (TCs/RCs) rose to ten-month highs in mid-July when miners began to sell tonnages at higher prices and smelters consolidated their purchasing with terms around $90 per tonne/$0.09 per lb.The Metal Bulletin copper concentrates index jumped by $6.30/$0.63 to $86.10/$0.861, the highest level since October 2017.The volume of tonnages traded has reduced...Read More
An overview of the battery raw materials markets and their price moves from the past week....Read More
Nickel prices on the London Metal Exchange once again fell below $14,000 per tonne at the close of trading on Friday July 13, with broad gains across the complex capped by the ongoing trade dispute between the US and China. The metal's three-month price continues to exhibit volatile price shifts, exemplified in today's intraday trading range of $390 per tonne. "Broad-based weakness in the bas...Read More
An overview of the battery raw materials markets and their price moves from the past week....Read More
Key data in the pricing session in the week ending Friday July 13. China Activity in China's ferro-chrome market was quiet with prices falling due to the production increase that followed the restart of Inner Mongolian smelters. There was no liquidity and stability in the imported charge chrome market amid a standoff...Read More
Copper concentrate treatment and refining charges (TCs/RCs) rose to ten-month highs in mid-July when miners began to sell tonnages at higher prices and smelters consolidated their purchasing with terms around $90 per tonne/$0.09 per lb.The Metal Bulletin copper concentrates index jumped by $6.30/$0.63 to $86.10/$0.861, the highest level since October 2017.The volume of tonnages traded has reduced...Read More
The main union at Escondida, the world's largest copper mine, has rejected the company's latest contractual offer, the union said on Thursday July 12. The offer, said to include a bonus of 4.5 million Chilean pesos ($7,000) with no base salary increase or schooling benefits was deemed "unacceptable," the union said. "If there is no substantial change, the Union will be...Read More
Indonesia's growing presence in the international market as a stainless steel exporter - made possible by an influx of Chinese-backed producers in the country - presents a potential challenge to China's dominance of the Asian markets, participants told Metal Bulletin.Playing a key role in the market and squeezing China's market share currently is PT Indonesia Tsingshan Stainless Steel, a low-cost...Read More
An overview of the battery raw materials markets and their price moves from the past week....Read More