Norwegian ferro-silicon producer Finnfjord Smelteverk will cut about 3,500 tonnes of production between July and August of this year because of planned maintenance to one of its furnaces, according to an industry source. The company, which has its plant in the north of the country, operates three furnaces, one with capacity for 20,000 tonnes per year and two with capacities for 40,000 tpy. Mainten...Read More
Following extensive market engagement, Metal Bulletin has decided to extend the consultation period for the proposed launch of a battery-grade lithium ex-works China index to provide additional time for market participants to submit feedback. Metal Bulletin is committed to providing transparent pricing for the lithium sector and is therefore extending the timeframe to collect further feedback on t...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
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comJul 3, 2018 Charts don't make fundamentals, but fundamentals do make charts.That's because market fundamentals create liquidity flows.Those liquidity flows create technical action on the charts.Please click here now.Double-click to enlarge this important daily gold chart.When market techn...Read More
Even when gold ran to $1,370 in early April, gold mining stocks were trading like garbage. Many of us were baffled at what was going on. Aren't the mining stocks supposed to lead the metals? Well, yes they are and they still do! Apparently the gold/silver shares were trading poorly because they were forecasting a weaker gold/silver price...what a concept!What has definitely been missing with these...Read More
(Kitco News) - Gold prices are solidly higher and near their session highs asmidday approaches. Traders continue to do some short covering in the futuresmarket and bargain hunting in the cash market, after the yellow metal hit a12-month low overnight. A U.S. dollar index that is lower today is helping outthe precious metals market bulls. Augustgold was last up $15.70 at $1,257.50.By Jim Wyckoff Fo...Read More
Domestic Chinese ferro-chrome prices have risen in line with July tender prices from leading stainless steel mills. Spot domestic ferro-chrome prices rise in China Chrome ore, charge chrome import prices slideJapanese alloy prices edge upFerro-chrome prices rise in Europe Alloy markets flat in South Korea, United StatesChinese spot domestic ferro-chrome prices rose 4% in the week to Friday June 29...Read More
NEW YORK, July 3 (Reuters) - U.S. Treasury investors turned mildly more bearish in the latest week after last week's bond market gains tied to worries about escalating trade friction between the United States and its major trade partners, a J.P. Morgan survey released on Tuesday showed.The share of investors who said on Monday they are short, or holding fewer longer-dated Treasuries than their por...Read More
WASHINGTON (Reuters) - New orders for U.S.-made goods unexpectedly rose in May, pointing to a strengthening manufacturing sector, but business spending on equipment continued to show signs of slowing.Factory goods orders increased 0.4 percent amid strong demand for machinery, the Commerce Department said on Tuesday. Data for April was revised up to show orders falling 0.4 percent instead of the pr...Read More
Vanadium prices resumed their rally in earnest last week after buyers paid higher prices to secure scarce units, with no signs of change to the persistent tight supply situation. Chinese export prices jump with spot units in limited supply amid persistent foreign inquiries European ferro-vanadium prices surge in the second half of the week after sellers hold firm with their offers Thin spot supply...Read More
Beginning in early Spring,gold and silver faced two serious headwinds: Seasonality - that is, the annual decline in bullion demand from China and India once wedding season ends - and the internal structure of the futures markets, where the big players in gold had lined up in ways that historically point towards weak prices for a while. Both of these negatives are still in place (hence the smack-do...Read More
(Kitco News) - Gold and silvermarkets are trading with decent gains and near theirdaily highs in late-morning action Tuesday. Bullish outside markets thatinclude a lower U.S. dollar index and crude oil prices that have surged to a3.5-year high above $75.00 a barrel in Nymex futures are boosting the preciousmetals, after they dropped to multi-month lows on Monday. Bargain hunting and shortcovering...Read More
LONDON (Reuters) - European shares edged higher on Tuesday after German Chancellor Angela Merkel’s conservatives settled a row over migration and gave some respite to investors facing a rage of political worries including trade tensions with the United States.The pan-European STOXX 600 was up 0.6 percent by 0833 GMT with Germany's DAX .GDAXI posting the best performance with a 0.9 percent...Read More
Please Note: US markets are closed tomorrow for Independence Day. CloseGain/LossGold $1252.90+$12.70Silver$16.01+$0.16XAU82.87+2.17%HUI177.08+2.07%GDM626.20+1.68%JSE Gold1072.39+12.19USD94.57-0.42Euro116.64+0.42Yen90.55+0.28Oil$74.14+$0.2010-Year2.829%-0.035T-Bond145.4375+0.6875Dow24174.82-0.54%Nasdaq7502.67-0.86%S&P2713.22-0.49% The Metals: Gold chopped near unchanged in Asia, but it the...Read More
Via GEFIRA,The new Italian government will increase public spending and public debt.It promised to reduce taxes, introduce basic security and reform pensions. Italy's Northern League's leader Mateo Salvini surged in the polls and the party is now the strongest in Italy.A couple of years ago it was inconceivable that this regional group could become Italy's leading political party. We should exp...Read More
Gold needs to trade over $1236 for the whole day to prevent a crash. Silver needs to trade over $15.60 to prevent a sell off. Copper needs to trade over $2.91 to prevent a sell off. Crude oil will zoom if it manages to break and trade over $75.20. Trading volumes in the USA session will reduce. Financial markets will not sleep. Volatility will remain on the higher side. Economics & Trump trade...Read More
Gold futures finished sharply higher Tuesday, clawing back from a steady decline that had pushed the commodity early this week to its lowest finish since December, as a brawny dollar paused its advance. Industrial metals, meanwhile, remained in focus, amid trade friction and questions about China's economic expansion. Platinum prices posted a Tuesday rebound after marking their lowest settlement s...Read More
NEW YORK (Reuters) - Theft of cryptocurrencies from exchanges soared in the first half of this year to three times the level seen for the whole of 2017, leading to a three-fold increase in associated money laundering, according to a report from U.S.-based cybersecurity firm CipherTrace released on Tuesday.The report, which looks at the global anti-money laundering market, showed that in the first...Read More
BEIJING (Reuters) - China’s leaders are confident the country can cope with major and external risks, they said at a high-level internal financial meeting, amid financial turbulence at home and rising trade tensions with the United States.The cabinet-level Financial Stability and Development Commission (FSDC), convened by Vice Premier Liu He for its first meeting, concluded on Monday that Ch...Read More
LONDON (Reuters) - Prime Minister Theresa May has called on her Conservative Party to “stand together” over Brexit, days before a crunch meeting she hopes will overcome bitter rifts over how Britain should leave the European Union.Britain’s exit from the bloc will mark its biggest trading and foreign policy shift in almost half a century. But May has struggled to unite her minist...Read More