European antimony prices have started the year on a positive note with prices edging up slightly for both grades amid a tightening market.Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,000-8,350 per tonne on Friday January 5, stable from Wednesday's assessment when prices had increased from $7,950-8,300 per tonne.Trioxide grade antimony prices in-wareho...Read More
The seaborne iron ore market received a boost on Monday January 8 froma strong futures market. Key drivers China's Ministry of Industry & Information Technology (MIIT) announced on Monday that no new capacity will be allowed in the steel, cement and flat glass industries, and issued specific requirements for steel mills replacing old with new capacities. The announcement s...Read More
China's ferrous futures prices turned around to surge late in the afternoon on Monday, January 8 after the country's officials declared stricter steel capacity replacement criteria to be implemented from this year.The production facilities that will be allowed to have capacity replaced will only include those recorded in capacity replacement plans approved by local or central governments...Read More
Palisade Research January 8, 2018 Category: Research India's government just shocked the automobile and commodity marketplace. They made the ambitious move in declaring that by 2030, all vehicles sold will be Electric Vehicles (EV's). The papers finalizing the policy could be signed by year end. . ."The government has declared that India - set to be the world's third largest car market within fi...Read More
(Repeats for market hours. No change to text.)* China's FX reserves climb by $20 bln in December* Economists polled by Reuters expected reserves to rise by $6 bln* Eleventh month of gains, longest stretch since June 2014* Reserves rise $129.5 bln in 2017, first annual gain since 2014 BEIJING, Jan 7 (Reuters) - China's foreign exchange reserves rose to their highest in more than a year in Decembe...Read More
SYDNEY, Jan 8 (Reuters) - Australia on Monday said it expects iron ore prices to average $51.50 a tonne this year, down 20 percent from 2017, because of rising global supply and moderating demand from top importer China as its steel sector shrinks.The world's top three mining companies, BHP and Vale rely heavily on iron ore sales for the bulk of their revenue despite efforts to diversify more int...Read More
BEIJING, Jan 7 (Reuters) - * China gold reserves were at 59.240 million fine troy ounces at end-Dec, unchanged vs end-Nov, the central bank said on Sunday. (Reporting by Josephine Mason) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, nei...Read More
By Yereth RosenANCHORAGE, Alaska, Jan 5 (Reuters) - U.S. regulators formally launched a review process on Friday that could produce a permit a Canadian mining group needs to build the Pebble Mine copper and gold project in southwest Alaska, which is opposed by environmentalists. The U.S. Army Corps of Engineers, the federal agency that regulates the development and dredging of wetlands, has publi...Read More
(Adds details on specific stocks, updates prices)* TSX ends down 63.5 points, or 0.39 percent, at 16,349.44* Half of the TSX's 10 main groups move lower* Index notches a 0.9 percent gain over shortened week TORONTO, Jan 5 (Reuters) - Canada's main stock index fell on Friday, weighed by losses among natural resource stocks as commodity prices pulled back, muting a strong weekly gain for the index...Read More
(Kitco News) - Aside from the gold market witnessing a bullish start to the year, gold ETFs are also doing something worth paying close attention to.This past week, SPDR GLD (NYSE: GLD) – the world's largest gold-backed exchange-traded fund – witnessed its longest positive streak on record after rising for eleven consecutive days before registering a decline on Wednesday.SPDR GLD last...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage (Kitco News) - After a solid year, gold is looking very positive in 2018 and beyond, according to Tocqueville Asset Management.In a recently published year-end investor letter, Tocqueville’s senior portfolio manager John Hathaway said that a new gold rally could be triggered by several factors, including extreme valuations of financi...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage(Kitco News) - Kitco News brought back a fan favorite this year in an effort to give YOU, our dedicated readers, a voice! After a few weeks of voting, we have finally tallied up the results to unveil who our readers and viewers think merits the title of CEO of 2017. After sifting through thousands of responses, and the names of over 100 CEO...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage (Kitco News) - Invest Like The Experts is back but with a twist! Known as a fan favorite, the Expert Series brings together well-known investors and Kitco regulars to find out where they will be putting their money in 2018. This time, we asked investor David Erfle how he would invest $100,000 in the mining sector this year. He also s...Read More
(Kitco News) - Participants in the weekly Kitco News gold survey look for the precious metal to build on its gains next week, citing the soft U.S. jobs report released Friday and technical-chart momentum. Wall Street Bullish Bearish Neutral VS Main Street Bullish Bearish Neutral Comex February gold topped the $1,300-an-ounce level on the final day of 2017 and...Read More
(Kitco News) - Gold prices are modestly lower and trading near the levels seen just before the release of the U.S. employment report for December. That report was on the weaker side of expectations and gave gold prices a brief pop. However, gold prices have faded again as the U.S. dollar has regained the advances it briefly lost after the jobs report. February gold was last down $3.90 an ounce at...Read More
(Kitco News) - The gold market has pushed higher following a drop in momentum in the labor market in the final month of 2017.Friday, The Bureau of Labor Statistics said 148,000 jobs were created in December. Economists were expecting to see job gains of 190,000.At the same time, the unemployment rate held steady at 4.1%, which was in line with expectations.Not only was the headline data disappoint...Read More
Something tells me there are some underlying problems in the equity markets based on the way that gold is trading. Gold and silver, which had major breakdowns three weeks ago, have gone up almost every day since. We had turned short-term bearish while maintaining our long-term bullish posture. That positioning has not worked out well and has been rather painful, with gold rallying about $90 from t...Read More
The latest news and price moves to start the Asian day on Friday January 5.Base metals prices on the London Metal Exchange ended mostly higher on Thursday January 4, with only tin bucking the overall trend as of the 5pm close in London. Read more in our live futures report. However, lead joined the descent later in the evening.Here are how prices looked at the end of the day on Thursday.The c...Read More
The latest news and price moves to start the Asian day on Friday January 5.Base metals prices on the London Metal Exchange ended mostly higher on Thursday January 4, with only tin bucking the overall trend as of the 5pm close in London. Read more in our live futures report. However, lead joined the descent later in the evening.Here are how prices looked at the end of the day on Thursday.The c...Read More
Base metals prices on the London Metal Exchange closed mostly lower on Friday January 5 although tin bucked the trend.The three-month copper price ended $67.50 lower back below $7,200 per tonne at a one-week low. "The complex may have reached slightly overbought levels, however, and most of the positive catalysts may have been priced in," Metal Bulletin analyst Andy Farida said. "It would not surp...Read More