The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
-- The Philippine government is moving closer to lifting the ban on new mining projects as the interagency Mining Industry Coordinating Council works out a new tax regime for the mineral industry, in conjunction with the Finance department's efforts to generate fresh revenue streams, BusinessWorld newspaper reported.-- Source link: -- Note: Reuters has not verified this story and does not vouch f...Read More
(Adds opposition lawmaker)GUASIPATI, Venezuela, Feb 11 (Reuters) - Soldiers clashed with illegal miners in southern Venezuela on the weekend, killing 18 people in a region notorious for violence and gang rivalries, a lawmaker and local media said. Bolivar state Governor Justo Noguera said a military unit had fought off an attack, but gave no more details. "An investigation is under way,"...Read More
GUASIPATI, Venezuela (Reuters) - Soldiers clashed with illegal miners in southern Venezuela on the weekend, killing 18 people in a region notorious for violence and gang rivalries, a lawmaker and local media said.Bolivar state Governor Justo Noguera said a military unit had fought off an attack, but gave no more details. “An investigation is under way,” he told reporters.Local newspape...Read More
It's A Mad, Mad, Mad WorldI have been an active trader and was licensed as a commodity broker in 1984, which means that I was present for the equities meltdown and crash of 1987. I was also in the industry in 2008 when the US stock market crashed following the banking crisis which resulted in a multiyear recession. Having said that, this week's meltdown in equities contained extremely wild price s...Read More
(Kitco News) - Valentine’s Day is quickly approaching and if you are struggling for the perfect gift, you can’t go wrong with jewelry as that appears to be the hot item this year.According to the National Retail Federation, U.S. consumers are expected to spending a near-record $19.6 billion on Valentine’s Day gifts, up from $18.6 billion spent last year. On average consumers are...Read More
(Kitco News) - Gold prices have erased early losses and are trading near steady as of this writing early Friday afternoon. Another big sell-off in the U.S. stock market is prompting safe-haven demand for gold. Look for the gold and silver markets to at least hold their own early next week, due to the keen uncertainty and anxiety that will be present on Monday morning. Bearish outside markets Frida...Read More
(Kitco News) - The gold market is ending its second consecutive week in negative territory and many investors are asking: What happened?Gold’s losses come as equity markets fell sharply into corrective territory, with the past week seeing the Dow Jones Industrial Average shedding more than 1,000 points in two sessions. In total, the Dow, last trading at 23,784 points is down more than 6% sin...Read More
(Kitco News) - Wall Street and Main Street continue to have opposing viewpoints on the short-term price direction of gold, although the difference has narrowed, based on the weekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VS Main Street Bullish Bearish Neutral For the second Friday in a row, the largest Wall Street bloc of voters called for gold...Read More
Since the beginning of last year, precious metal stocks have been badly lagging the gold price. At the beginning of 2017, gold was trading well below $1175, while the GDX was at roughly the same level it is trading today with bullion firmly above $1300. During healthy precious metal bull markets, the miners typically outperform the gold price by 2x to 3x. However, until gold closes above $1375 on...Read More
Goldman Sachs is upbeat on commodities despite recent weakness, looking for gold to be among the markets that rise. Following financial markets, commodity prices sold off sharply over the past week, with the S&P GSCI down 5.6% from the Jan. 26 peak. “This sell-off, however, was less than the 10.2% decline in the S&P 500,” Goldman says. “Ironically, the catalyst for the eq...Read More
The equity markets are under siege and every major sector is in correction territory for the first time in two years. Energy, materials, tech, and financials are getting creamed. Treasury bonds are in a bear market, and gold is running in place but losing ground every day. The safety assets are not offering much security, especially the Treasuries as they get pounded daily with rising rates. For y...Read More
SHANGHAI, Feb 9 (SMM) –Copper: Stock market slump, lower crude oil prices, and a surge in LME copper inventory gave shorts more confidence overnight. We expect LME copper to trade at $6,810-6,880/mt today and SHFE copper at 51,700-52,200 yuan/mt. Weak fundamentals may lead spot premiums lower to 30-40 yuan/mt today.Aluminium: We expect LME aluminium to trade rangebound at $2,158-2,193/mt wit...Read More
SHANGHAI, Feb 9 (SMM) –Copper: Stock market slump, lower crude oil prices, and a surge in LME copper inventory gave shorts more confidence overnight. We expect LME copper to trade at $6,810-6,880/mt today and SHFE copper at 51,700-52,200 yuan/mt. Weak fundamentals may lead spot premiums lower to 30-40 yuan/mt today.Aluminium: We expect LME aluminium to trade rangebound at $2,158-2,193/mt wit...Read More