Gold futures finished near the highs of the day, and as of 4:00 PM Eastern standard time is trading up $4.50 at $1,303.90. Gold had been trading fractionally higher at just before the conclusion of this month’s FOMC meeting. However immediately following the meeting, the largely anticipated 25 basis point rate hike fell under pressure and gold briefly traded below $1,300 per ounce.This lower...Read More
(Kitco News) - The Bank of Montreal (BMO) has raised their long-term equilibrium price forecast for copper to $3.25/lb, in line with current prices, citing higher demand growth for copper from the emerging prominence of renewable energy. "Changing long-run commodity prices should be a rare event, and should only take place where there is a marked shift in the future outlook. In our view, th...Read More
(Kitco News) - Gold prices are slightly lower in afternoon U.S. trading Wednesday, and lost mild earlier gains in the wake of today’s FOMC meeting statement that saw the Fed U.S. raise interest rates slightly. August Comex gold futures were last down $0.30 an ounce at $1,299.90. July Comex silver was last up $0.009 at $16.90 an ounce.The Federal Reserve’s Open Market Committee (FOMC) m...Read More
LME Stock Today – Today LME Inventory Report : 13/06/2018 UpdateALUMINIUM -8775 MT,COPPER -2275 MT,NICKEL -972 MT,LEAD -125 MT,TIN NA ANDZINC -1750 MT Read More
(Kitco News) - Gold prices are holding steady just below the psychological barrier of $1,300 an ounce after the Federal Reserve suggested that it will hike interest rates more aggressively this year and the next as the U.S. economy continues to grow.Following its two-day monetary policy meeting, the Federal Reserve raised interest rates by 25 basis points Wednesday, in line with expectations. Ahea...Read More
(Kitco News) - Although gold’s near-term fortunes lie in the hands of the Federal Reserve, one commodity analyst says that the market is building significant upside momentum.In a report Wednesday, ahead of the Fed’s monetary policy decision, Ole Hansen, head of commodity strategy at Saxo Bank, said that the imminent rate hike -- the seventh in the current cycle -- has sapped investor i...Read More
(Kitco News) - Although financial markets are awash in short-term uncertainty, investors and companies need to pay more attention to long-term issues like climate change and growing social and economic inequality.In a panel discussion at the 24th annual International Economic Forum of the Americas in Montreal, Canada, Glenn Hutchins, co-founder of North Island and co-founder of Silver Lake, two si...Read More
Gold needs a fresh catalyst, says Lukman Otunuga, research analyst at FXTM. Otherwise, the yellow metal remains in a range, with $1,300 acting as a psychological pivotal point. “Price action continues to suggest that gold needs a fresh directional catalyst to make its next significant move,” Otunuga says. “A U.S. interest-rate increase in June, coupled with expectations of furt...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
If you put gold on a heart-monitoring machine, it would be pronounced “dead on arrival.” The metal is lulling investors to sleep as it churns in a very tight range, narrowing every day. Gold is showing no signs of breaking out unless you consider the tight range itself. When markets go into these types of consolidation periods, what they are really doing is setting up a very big move....Read More
The latest news and price moves to start the Asian day on Wednesday June 13.Base metals prices on the London Metal Exchange retreated on Tuesday June 12 amid a bout of selling, with a lack of fresh catalysts to drive the market. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices softened in morning trading in the United States, with supply i...Read More
The latest news and price moves to start the Asian day on Wednesday June 13.Base metals prices on the London Metal Exchange retreated on Tuesday June 12 amid a bout of selling, with a lack of fresh catalysts to drive the market. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices softened in morning trading in the United States, with supply i...Read More
The latest news and price moves to start the Asian day on Wednesday June 13.Base metals prices on the London Metal Exchange retreated on Tuesday June 12 amid a bout of selling, with a lack of fresh catalysts to drive the market. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices softened in morning trading in the United States, with supply i...Read More
Base metals on the London Metal Exchange were mostly lower during morning trading on Wednesday June 13, with aluminium and tin dropping over 1% and copper, zinc and nickel edging lower, while lead made slight gains. Copper's three-month contract price dropped 0.38% to $7,194.50 per tonne this morning. As concerns over supply disruption ease, the red metal prices have been subdued since the st...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Wednesday June 13, the exception being lead which was up by 0.2%. The rest were weaker with copper, aluminium, nickel and zinc off between 0.4% and 0.6%, with copper at $7,176 per tonne, while tin was down by 1.2%. Volume has been average with 10,155 lots traded as at 9.38 am London time. Th...Read More
Premiums for 99.97% lead ingots hit a 2018 high in India due to continued spot market tightness after Iran's currency issue, while European and Southeast Asian lead premiums were unchanged in the week to Tuesday June 12, covered by long-term contracts. Premiums for 'three-nines' lead ingots hits record high in India after Iran restricted exports London Metal Exchange zinc cash/three-month price ba...Read More
UK ferrous scrap prices for monthly deliveries to consumers in June have been rolled over for a second month, trade sources told Metal Bulletin this week.A late flurry in Turkish demand, added to steady demand from Asia and the effects of exchange-rate movements, bolstered the UK market, they added.The market had initially looked as if prices would drop by ?5-10 per tonne at the start of negotiat...Read More
Turkish deep-sea scrap import prices increased on Wednesday June 13, with mills resuming purchases from the Baltic Sea region.A steel mill in the Marmara region booked a 40,000-tonne Baltic Sea cargo, comprising HMS 1&2 (80:20) at $344.50 per tonne and bonus scrap at $354.50 per tonne cfr late on Tuesday June 12. However, the cargo breakdown was not clear at the time of publication.On Wednesd...Read More
Comex copper prices recovered during trading on Wednesday June 13, with the dollar softening ahead of the Federal Reserve's decision whether to raise interest rates.Copper for July settlement on the Comex division of the New York Mercantile Exchange rebounded by 0.65 cents or 0.2% to $3.2560 per lb. Meanwhile, Glencore-owned copper producer Katanga Mining has settled its legal dispute in the...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Wednesday June 13, the exception being lead which was up by 0.2%. The rest were weaker with copper, aluminium, nickel and zinc off between 0.4% and 0.6%, with copper at $7,176 per tonne, while tin was down by 1.2%. Volume has been average with 10,155 lots traded as at 9.38 am London time. Th...Read More