Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Standa...Read More
Here Are 3 Hot Things to Know About Stocks Right Now For the week the S&P lost 2.04%, the Dow tanked 3.05% and the Nasdaq declined 1.08%.At one point during Friday's session, the Dow was down 391 points.The Dow remains 2,078 points below its all-time high on Jan. 26. Wall Street Overview Stocks turned mixed on Friday, March 2, as investors reacted to President Donald Trump's...Read More
A manganese ore price ceiling agreed by Chinese alloy smelters has collapsed a day after representatives agreed not to pay more than $8 per dry metric tonne unit for low-grade ore, Metal Bulletin understands. Representatives from manganese alloy smelters met on Thursday March 1 and agreed a price ceiling for 37% manganese ore after prices for the raw material continued to soar, several market sour...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
CloseGain/LossOn WeekGold $1321.90+$6.60-0.56%Silver$16.51+$0.02-0.06%XAU78.75-0.23%-2.21%HUI172.99-0.16%-2.11%GDM601.93+0.02%-1.94%JSE Gold1107.57+41.26+1.65%USD89.94-0.33+0.02%Euro123.28+0.62+0.24%Yen94.66+0.42+0.95%Oil$61.25+$0.26-3.62%10-Year2.860%+0.053-0.24%Bond144.3125-1.03125+0.13%Dow24538.06-0.29%-3.05%Nasdaq7257.87+1.08%-1.08%S&P2691.25+0.51%-2.04% The Metals: Gold rose $10 to $1...Read More
Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel have all raised their high-carbon ferro-chrome tender prices month on month for March due to tight supply of the stainless steel raw material, higher chrome ore prices and rand appreciation. Tisco has bid 7,750 yuan ($1,221.42) per tonne for high-carbon ferro-chrome for March delivery,100 yuan higher than its February tender price. The day...Read More
Earlier this quarter, GoldQuest Mining (GQC.TO) released the assay results of seven holes drilled on its Tireo concessions in the Dominican Republic. It had previously made an interesting discovery on this license which was named Cachimbo and still appears to be open in all directions.The drill holes show some interesting features as the mineralization appears to be divided into two zones; a highe...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort251,98173,26372,017161,527361,323485,525506,603Change from Prior Reporting Period -5,2246,9804,3816,614-8,4685,7712,893Traders17378834658255187 Small Speculators LongShortOpen Interest 47,33526,257532,860 -1,0651,8134,706 non reportable positionsChange from the previous reporting...Read More
- Global stocks slump as Trump risks trade wars- Gold prices little changed despite dollar weakness after tariff news- Trump announced plans to impose heavy tariffs on imported metals- China likely to retaliate with heavy tariffs on U.S. agricultural exports- Geo-political tensions with EU and of course China and Russia to escalate- Trade, currency wars and competitive currency devaluations tend...Read More
Refining charges (RCs) on blister copper imported into China stayed at high levels in February, with buyers snapping up tonnages on the well-supplied domestic spot market.China purchased several thousand tonnes of 98-99% blister copper, mainly from African producers, at RCs of $200-210 per tonne cif last month, according to Metal Bulletin's assessment.Metal Bulletin introduced its monthly RC asses...Read More
(Kitco News) - Gold prices were flat as Asian markets opened on Friday, but the yellow metal was able to retain most of last session’s gains triggered by trade war fears following U.S. President Donald Trump’s plans to impose hefty tariffs on imported steel and aluminum.Trump said on Thursday that he plans to introduce tariffs of 25% on steel imports and 10% on aluminum next week. &ldq...Read More
Rio Tinto Alcan's Kitimat aluminum smelter in northwest coastal British Columbia. Source: Rio Tinto Alcan.Trump said he intends to slap a 25% duty on steel imports and 10% on aluminum in order to protect the national industry. However, the dollar and Wall Street shares slumped as the plan sparked fears of a trade war and worries about the impact on the world's largest economy.Such a move would hur...Read More
S&P 500 shrugs off early losses, small cap shares lead rallyGold and silver rally, industrials lead European shares lowerPlurimi CIO Favors Cyclical Stocks Despite Tariffs ThreatU.S. stocks ended a volatile session higher, paring a weekly decline, as investors speculated that President Donald Trump’s tough tariff talk won’t translate into the most severe protectionist policies. Treas...Read More
OSLO, March 2 (Reuters) - Norway's central bank has awarded9.5 billion Norwegian crowns($1.21 billion) in an F-depositfor March 2-7, with a highest rate of 0.50 percent, it said onFriday.Overall demand in the auction was for 16.5 billion crowns.Allocation at the highest rate was 32 percent, the centralbank added.($1 = 7.8205 Norwegian crowns) (Reporting by Oslo newsroom) Messaging: camilla.knudsen...Read More
Maricann Group Inc.'s (CSE:MARI) Chairman and Director have resigned following an Ontario Securities Commission reviewSmallCapPower | March 2, 2018: Maricann Group Inc. (CSE:MARI), after the market close on March 1, 2018, announced that it has received a notice of termination from its Underwriter that it will not proceed with a $70 million bought deal equity financing at a price of $4.00 per unit....Read More
The Kamoa-Kakula copper project in the Democratic Republic of Congo (DRC) has increased its mineral resource estimate by 50%, which could bring around 21.5 billion lb (9.8 million tonnes) of copper into the market, Ivanhoe Mines said earlier this week. Research conducted in 2017 revealed Kakula's mineral resources at the Kamoa-Kakula mine stand at an estimated 174 million tonnes of which 5.62% is...Read More
* Trump's tariff plan on steel risks trade war* Rand falls more than 1 pct* Naspers falls in line with China's Tencent (Adds stocks, updates levels)JOHANNESBURG, March 2 (Reuters) - South African marketsweakened on Friday as investors dropped riskier assets for saferinvestments on the back of the threat of a global trade warsparked by U.S. President Donald Trump's tariff plan on steel.Trump's plan...Read More
Trevali Mining's Caribou zinc mine in the Bathurst Mining Camp of New Brunswick. Source: Trevali Mining Corp.Under the terms of the letter of intent (LOI), the option is subject to certain standard terms and conditions, including the receipt of all requisite regulatory approvals, including acceptance by the TSX Venture Exchange.Trevali is already a big player in the Bathurst Mining Camp through it...Read More
Trump Says 'Trade Wars Are Good, and Easy to Win'President Donald Trump is touting the virtues of a trade war. In the $5.1 trillion-a-day currency market, the yen has emerged as a clear winner from the escalating rhetoric.The latest move pushes forward the administration’s trade agenda, after it took similar actions on other goods this year and jawboned the dollar lower. The potential...Read More
Peru's government has hailed the successful auction of the Michiquillay copper project as a sign of a revival in mining investment in the Andean nation, but several industry participants dispute that notion.Southern Copper Corp, controlled by Grupo Mexico, last week won a public tender to develop the world-class mining project in Peru's northern region of Cajamarca with an offer of $400 million. T...Read More