In light of in incredibly strong U.S. dollar or, more appropriately, a dramatically lower Eurodollar, gold has managed to hold onto gains. As of 4:00 PM Eastern standard time, gold futures are currently trading up $5.20 at $1,306.50, a net gain of 0.40%.The Eurodollar is currently down almost 1.8% on the day at 1.158. This weakness is a direct result of last night’s announcement by the Europ...Read More
WASHINGTON, June 14 (Reuters) - The U.S. Federal Reserve on Thursday said it would finalize a rule introduced following the 2007-09 global financial crisis limiting the amount of credit exposure a big bank can have to a single counterparty.The rule, which applies to domestic and foreign banks of more than $250 billion in assets, aims to prevent the contagion risks that saw many big banks wobble du...Read More
Lindsay DunsmuirWASHINGTON (Reuters) - The International Monetary Fund warned on Thursday that U.S. President Donald Trump’s new import tariffs threaten to undermine the global trading system, prompt retaliation by other countries and damage the U.S. economy.“Let us not understate the macroeconomic impact,” IMF Director Christine Lagarde said, saying the tariffs will have a large...Read More
(Kitco News) - Gold and silver prices are higher in early-afternoon U.S. trading Thursday, but down from their daily highs. Still, both metals are showing surprising and impressive resilience in the face of a strong surge in the U.S. dollar index today. Gold prices hit a four-week high and silver hit a seven-week high today. August Comex gold futures were last up $5.80 an ounce at $1,307.10. July...Read More
BRUSSELS (Reuters) - European Union countries on Thursday unanimously backed a plan to impose import duties on 2.8 billion euros ($3.3 billion) worth of U.S. products after Washington hit EU steel and aluminum with tariffs at the start of June, EU sources said.The measures still need to be adopted by the European Commission, whose next scheduled meeting is June 20. They should be in place by late...Read More
(Kitco News) - Gold is poised to climb in the months ahead despite another U.S. interest-rate hike on Wednesday and prospects for further monetary tightening, said two banks in research notes Thursday. “Following the seventh U.S. rate hike this cycle and with the promise of two more before year-end, I see the potential for the gold focus turning more supportive,” said Ole Hansen, head...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
Silver has moved back above $17 an ounce for the first time in roughly two months, points out Commerzbank. “Silver was pulled up by the base metals yesterday and is making further gains this morning,” Commerzbank says. “For the first time in almost eight weeks, silver is priced at over $17 per troy ounce again. That said, its excursion above this mark lasted only three days in Ap...Read More
(Kitco News) - It makes sense to hold some commodities in a diversified portfolio in this late stage of a business cycle, according to one commodity fund manager.In an interview with Kitco News John Love, president and CEO of USCF said that he sees positive long-term prospects for broad commodities, as equity markets appear to be reaching their pinnacle.“We’ve had a tremendous bull mar...Read More
(Kitco News) - Gold traded as we expected after the Fed raised rates yesterday -- first a swoon on the announcement and then a pop. This has been the pattern for the last three rate hikes. Although the message from the Fed was hawkish, indicating further rate hikes this year, traders ignored the statement and began focusing again on global issues, specifically the looming trade wars. There is a co...Read More
The latest news and price moves to start the Asian day on Thursday June 14.Base metals prices on the London Metal Exchange were mixed...Read More
The latest news and price moves to start the Asian day on Thursday June 14.Base metals prices on the London Metal Exchange were mixed...Read More
Nickel prices on the London Metal Exchange recorded the largest losses of the day at the close of trading on Thursday June 14, leading the complex lower amid sharp drops in lead, copper and zinc prices. Results from China's macro-economic data, including a lower than expected rise in fixed asset investment, and a weaker dollar index has put pressure on the base metals complex.China's fixed asset i...Read More
A gap between the three-month prices of zinc and lead on the London Metal Exchange could generally narrow and become more settled in the coming weeks after an extended period of flux, market participants suggested.The prices of zinc and lead have historically tended to trade in tandem on the LME but they have diverged to a greater degree over the past couple of years - global supply discrepancies...Read More
Comex copper prices failed to hold momentum on Thursday morning in the US, with the Federal Reserve's decision to increase interest rates spurring a dollar rally and sinking the base metals group.Copper for July settlement on the Comex division of the New York Mercantile Exchange declined 2 cents or 0.6% to $3.2340 per lb. Yesterday, the US Federal Open Market Committee raised interest rates...Read More
European spot prices for molybdic oxide have decreased so far this week on lower deals done in Europe and in Asia, with ferro-molybdenum tracking the move while there is relatively low buying interest, sources said.European ferro-molybdenum consumers in the steel sector appear satisfied with their long-term contracted intake of alloys at present, while South Korea was closed for a national holiday...Read More
Key data from the Wednesday June 13 pricing session in Europe.Key drivers - Ferro-titanium prices have edged lower but steady demand should persist in the near term and keep prices in, or close to, the current range, sources said. - A tender for three truckloads of ferro-titanium from Swedish steelmaker SSAB has been settled at well below $5 per kg, according to...Read More
Key data from the Wednesday June 13 pricing session in Europe.Key drivers - Ferro-titanium prices have edged lower but steady demand should persist in the near term and keep prices in, or close to, the current range, sources said. - A tender for three truckloads of ferro-titanium from Swedish steelmaker SSAB has been settled at well below $5 per kg, according to...Read More
Germanium prices in Europe fell on Wednesday June 14 as a result of surplus material available in China and low demand from end users.Metal Bulletin assessed germanium metal at $1,560-1,660 per kg on an in-warehouse Rotterdam basis on Wednesday, down 5.3% from $1,650-1,750 per kg the previous week."A European trader offered us 50 kilograms of germanium at $1,575 per tonne, but we didn't buy, so I...Read More
Cobalt trade log including business, bids and offers reported to Metal Bulletin.Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Metal Bulletin prices Click here for Metal Bulletin's price assessment for low-grade cobalt, in-warehouse, $ per lb Click here for Metal Bulletin's price assessment for high-grade cobalt, in-warehouse, $ per lb In...Read More