It seemed like we were heading towards the pandemic’s end, as mass vaccinations began across several parts of the world. However, we are not out of the woods yet. The newfound COVID variant, uncovered in the U.K., is apparently more dangerous and is creating havoc through the global financial markets. Here’s how to play the broad market weakness.Barrick GoldThe markets will likely trad...Read More
The idea of buying today’s top stock picks may lack appeal to some investors. The 2020 stock market crash could be fresh in their minds, while an uncertain economic outlook may hold back the performance of many sectors.As such, they may determine that buying physical gold or a gold ETF is a better idea. However, low valuations on offer across the stock market and a likely economic recovery m...Read More
The stock market has witnessed a strong bull run over the past several months despite the economic data pointing otherwise. While the growing disconnect of the stock market with the economy and high valuations led to speculations that a crash is near, I believe the fear of the new COVID-19 strain could possibly be the trigger that could lead to a strong correction. The negative news for the s...Read More
Dec 21, 2020 Guest(s): Ruth Crowell Chief Executive Officer, LBMA With lockdowns resuming in Europe, concerns rise that London, a major vaulting center, will face logistical challenges in transporting and servicing gold and silver bullion, similar to what happened in March that led to shortages of the physical precious metals markets. Ruth Crowell, chief executive of the London Bullion Market As...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Base metals prices on the London Metal Exchange were down across the board at the close on Monday December 21 amid broad-based profit-taking. Lead was the worst performer, falling 3.9% to $1,959.50 per tonne at the close. Trading volume was relatively low with just over 5,000 lots. Lead stocks on the LME continue to rise, weighing on sentiment for the heavy metal. After big inflows of 13,000 tonne...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday December 21, consolidating from their recent year-to-date highs.The three-month aluminium price fell by 1.4% this morning after nearly 30,000 tonnes were delivered into LME-listed warehouses.Warehouses in Port Klang received 27,875 tonnes of aluminium, while a couple of hundred tonnes was also delive...Read More
Jack ChanPosted Dec 21, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on BUY signal. Short-term signals can last for days and weeks and are more suitable for traders.COT data is supportive for overall higher gold prices.COT data is supportive for overall higher silver prices.Our ratio is o...Read More
The US yesterday agreed on a $900 million economic stimulus package but concerns are mounting about a mutated strain of COVID-19, nine months after the World Health Organisation declared a global pandemic.Gold, which was below $1,500/oz 12 months ago, hit an all-time high above $2,000/oz in August.It was about $1,877/oz at the time of writing.Elsewhere iron ore was a standout, with 58% Australian...Read More
The decrees, published in Congo-Brazzaville's official gazette, have handed Sundance's flagship Nabeba mining permit, Equatorial's Badondo exploration licence, and Core Mining's Avima permit, toRead More
Port prices of both low- and high-grade manganese ore in China continued to trend upward in the week to Friday December 18 after ore traders raised their offers further, partly boosted by the rallying futures silico-manganese market, market sources said. Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 32.30 yuan ($4.94) per dmtu on December 18, up by 1 yuan...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Prices for imported ferro-chrome in Japan and South Korea have risen for the first time since late September, buoyed by ongoing trade flow disruptions.Fastmarkets' fortnightly price assessment for ferro-chrome, high carbon, 57-65% Cr, cif dup Japan was $0.73-0.75 per lb on Thursday December 17, up by $0.01-0.03 per lb from $0.70-0.74 per lb on December 3.Similarly, the fortnightly price assessment...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Russia has introduced a temporary export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw materials in the domestic market.On Friday December 18, Russia's Ministry of Economic Development approved a temporary export duty of 5% but of at least 45 euros per tonne on steel scrap exports, according to a statement...Read More
Turkish deep-sea scrap import prices refreshed their multi-year highs at the beginning of the week with the news of fresh deals for European and US cargoes on Monday December 21.A steel mill in the Marmara region booked a European cargo, comprising HMS 1&2 (80:20) at $455 per tonne, shredded and bonus at $470 per tonne and busheling at $475 per tonne cfr. And another steel producer in the same reg...Read More
Share this article TORONTO - Gran Colombia Gold Corp. (TSX: GCM, OTCQX: TPRFF) announced today high-grade intercepts from the latest 71 diamond drill holes, totaling 10,634 meters, from the 2020 in-mine and near-mine drilling programs at its Segovia Operations. The Company also announced the assay results from five additional kick-off diamond drill holes from the ongoing directional drilling prog...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More