After an unsuccessful attempt yesterday to break above the current resistance level, gold returns to trading under pressure. Today’s market activity resulted in gold futures declining by approximately $3.20, which is a quarter percent decline. Gold futures are currently fixed at $1,256.40.Yesterday gold traded to an intraday high of just below $1,267 per ounce, which is the current resistanc...Read More

(Kitco News) - While the gold market may have less room to move on the downside, investors shouldn’t expect any significant rebound in the price until at least the end of the year, according to some analysts.The comments come as gold prices continue to struggle to find momentum, weighed down by a stronger U.S. dollar. August gold futures last traded at $1,256.30 an ounce, down 0.26% on the d...Read More

Last week gold popped from the $1,240 level as it looked like the bottoms had been put in. The rally from the lows continued through Monday, trading as high as $1,267. After peaking at 8 a.m. EDT Monday, gold managed to drift lower most of the day, losing most of its gains. This morning gold is down $11 and appears headed back to the $1,240 level and possibly lower. Unfortunately, the metals marke...Read More

Click here to view the LME price forecast summaryAluminium: Steadying around $2,100 per tonne Aluminium prices appear to be steadying around $2,100 per tonne, having unwound virtually all of the Rusal sanctions rally that reached $2,587 / tonne on April 19. The level that the consolidation is taking place at present coincides with our recently-revised base case Q3 forecast. Copper: Is the copper b...Read More

Kirkland Lake Gold Ltd. (TSX, NYSE: KL; ASX: KLA) lists second-quarter gold output of 164,685 ounces, up from 160,305 ounces in the second quarter of 2017 and 147,644 ounces in the first quarter of this year. The company says the tally exceeded target levels due to record quarterly production from Macassa of 60,571 ounces and record monthly production in June at Fosterville of 31,710 ounces. The c...Read More

Price dropped below $2,100 for the first time since early April The LME aluminium price on Friday dropped below $2,100 per tonne for the first time since early April, as a trade war between the world’s two largest economies officially began when the Trump administration followed through with its threat to impose tariffs on $34 billion worth of Chinese products. Risk-off sentiment has been pre...Read More

The latest bids, offers and deals in the global markets for ferrous scrap products. Latest transactions: HMS, shredded, bonus, P&STurkey, import; HMS 1&2 (80:20), traded at $344 per tonne; shredded, traded at $354 per tonne; bonus, traded at $359 per tonne cfr;...Read More

Aluminium Having found technical support from the July 6 low at $2,071 per tonne, the LME three-month aluminium price made a decent attempt to rebound on Monday, July 9. It traded as high as $2,134.50 per tonne and had a rather positive close above $2,100 per tonne, then received some follow-up buying on Tuesday. The technical indicators are starting to improve too, edging slowly away from ov...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

We have been asked by a number of clients about our view on how the current concerns over trade wars affect our long-term view on the copper market. We decided to share some of our views on this theme with our wider readership. Broadly, the base metals have entered a new bull market – some might even say a new ‘supercycle’. It will run well into the 2020s. Whereas the last supercycl...Read More

The seaborne coking coal market remained enveloped in bearish sentiment on Tuesday July 10 despite transactions concluded at higher levels a day earlier. "Those trades were clearly tailor-made and not repeatable," an ex-China trader source said, referring to the transactions on Monday.A second such source questioned the "sustainability of the high prices in the ex-China market" because the "Chines...Read More

China's ferrous futures were largely stable during morning trading on Tuesday July 10, with the rebar and coke contracts ending the session slightly higher than their opening prices while the others were little changed.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,872 yuan ($584.80) per tonne, up 7 yuan per tonne October hot-rolled coil: 3,940 yuan per tonne,...Read More

Prices dragged down again, but still relatively resilient Lead prices dropped to a low of $2,307 per tonne last week, extending the fall from $2,385 per tonne the week before. Since the June high, prices have now fallen 9.7 percent, while the other metals, with the exception of tin, have fallen between 12% and 17.2%. While the lead market continues to tighten in China, it has now started to show s...Read More

Solid fundamentals protecting the downside Nickel has been undergoing a healthy corrective move lower, alongside the other base metals as traders adjust to concerns that the US-China trade war may damage economic growth. Unlike some of its peers, however, nickel’s correction has been in an orderly fashion, with prices trading either side of $14,000 per tonne at the moment. Further downside sh...Read More

Good call on Q2 tin price The LME Q2 average cash tin price ended up at $20,961 per tonne, fractionally short of our long-standing forecast of $21,000 per tonne. We stood by this forecast as prices attempted to rechallenge the $22,000 per tonne highs in April, and then fell precipitously at times after that. Here we review some of the key factors that shaped tin market sentiment last quarter and l...Read More

(Updates prices, headline; adds comment, second byline, NEWYORK to dateline) By Renita D. Young and Eric Onstad NEW YORK/LONDON, July 10 (Reuters) - Gold prices fell onTuesday, weighed down by a stronger U.S. dollar, and may re-testa seven-month low after a failed attempt to break higher in theprevious session. Spot gold was down 0.2 percent at $1,255.09 an ounceby 1:33 p.m. EDT (1733 GMT), after...Read More

Rebound falters Amid volatility across the base metals, zinc staged a modest end-of-week rebound on Friday, closing up 2.2% or $58 on the day, after the dip to a one-year low of $2,667 per tonne on Thursday seemed a step too far. But while the complex as a whole is in a steadier mood at the start of this week, LME zinc prices have bucked the trend, with the current chart figuration suggesting over...Read More

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Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of  market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More

FTSE 250 company TP ICAP, the parent company of London Metal Exchange member firm Tullett Prebon, parted company with chief executive officer John Phizackerley on Tuesday July 10 amid increasing operating costs.The value of TP ICAP's shares dropped by as much as 36% at one point.The news from the company, which is the world's largest inter-dealer broker, was accompanied by comments saying...Read More