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
Low-grade manganese ore prices sailed through the $8 per dry metric tonne unit (dmtu) mark on Friday March 2 in China after producers ratcheted up their offers and on continued demand. Low-grade ore prices exceed $8 per dmtu in ChinaHigh-grade ore market lags in thin tradingSmelter backlash fails to slow rallyAlloy prices hold in most regionsUS ferro-manganese prices edge higher Low-grade mangane...Read More
CloseGain/LossGold $1319.60-$2.30Silver$16.43-$0.08XAU79.10+0.44%HUI174.35+0.78%GDM603.42+0.25%JSE Gold1108.17+0.60USD90.00+0.06Euro123.36+0.08Yen94.25-0.41Oil$62.57+$1.3210-Year2.884%+0.024T-Bond143.96875-0.46875Dow24874.76+1.37%Nasdaq7330.70+1.00%S&P2720.94+1.10% The Metals: Gold gained $5.80 to $1327.70 in Asia before it dropped back to $1317.40 by midafternoon in New York, but it then...Read More
Source: Clive Maund for Streetwise Reports 03/02/2018Urban mining is the wave of the future and is getting greater recognition with one urban mining company making the final four for the #Disrupt Mining Innovation Expo prize that will be awarded on Sunday, says technical analyst Clive Maund.Related companies Enviroleach and Mineworx Tech were recommended again this morning in Four Resource Sto...Read More
The Italian election will have an impact on the euro and will also affect decision making among Eurozone members. Merkel gets a fourth term in Germany. I do not foresee a sustainable government in Germany. Merkel's pro migrant chant will reduce if she needs to stay in power. Even new Italian leaders will support the need to take in less migrants. Less migrants implies less chaos and lawlessness...Read More
Hydro chief financial officer Eivind Kallevik has been appointed interim head of bauxite and alumina amid the company's disrupted operations and a force majeure at its Alunorte alumina refinery in Par??, Brazil. Kallevik held the position as head of finance for bauxite and alumina in Brazil for two years before becoming CFO in 2013. He also led the bauxite and alumina division for an interim perio...Read More
MEXICO CITY (Reuters) - The latest round of talks to revamp the North American Free Trade Agreement will conclude without a joint written statement from the United States, Canada and Mexico, like the last round, two sources with knowledge of the matter said on Monday.Canadian Foreign Minister Chrystia Freeland, Mexican Economy Minister Ildefonso Guajardo and U.S. Trade Representative Robert Lighth...Read More
(Reuters) - The U.S. government on Sunday ordered Qualcomm Inc (QCOM.O) to delay its March 6 shareholder meeting, a highly unusual request that cast doubt on Singapore-based Broadcom Ltd’s (AVGO.O) $117-billion hostile bid for its U.S. semiconductor peer.The intervention highlights growing U.S. concerns about safeguarding semiconductor technology. The Committee on Foreign Investment in the U...Read More
Low-grade manganese ore prices sailed through the $8 per dry metric tonne unit (dmtu) mark on Friday March 2 in China after producers ratcheted up their offers and on continued demand. Low-grade ore prices exceed $8 per dmtu in ChinaHigh-grade ore market lags in thin tradingSmelter backlash fails to slow rallyAlloy prices hold in most regionsUS ferro-manganese prices edge higher Low-grade mangane...Read More
Click to EnlargeThe property agreement allows LiCo to acquire a 100% interest in the mining rights for the Glencore Bucke property in Bucke Twp., 6 km east of Cobalt, Ontario.The purchase agreement includes a back-in provision, production royalty and an off-take agreement in favour of Glencore, which ranks as one of the world's largest producers of cobalt. Glencore Canada is a subsidiary of Glenco...Read More
Gold prices finished with a loss on Monday, as pressure from a firmer U.S. dollar and gains in the stock market offset earlier haven support from jitters about a potential trade war and uncertainty for the European Union following Italy's divisive election. April gold GCJ8, +0.27% shed $3.50, or 0.3%, to settle at $1,319.90 an ounce after an earlier high near $1,329. The contract has been volatile...Read More
The Atlantic alumina market will swing back to a premium over the Pacific as a result of a 50% cut to output, and subsequent force majeure announcement, from Hydro's Alunorte refinery in Brazil, according to market participants spoken to by Metal Bulletin. The tightness resultant from the cut to Hydro's production will be sufficient to see alumina trade at a premium in the Atlantic, while absolute...Read More
Ryan urges Trump to reconsider tariffs; West Texas crude gainsLoonie declines; Italian assets drop on inconclusive electionRupert Watson, head of asset allocation at Mercer, discusses possible market contagion in equities and bonds.U.S. stocks rose with the dollar, while Treasuries fell as signs mounted that President Donald Trump’s tough tariff talk may not translate into the most severe p...Read More
TORONTO/HOUSTON (Reuters) - Chevron Corp is exploring options including the sale of a minority stake in its Canadian liquefied natural gas (LNG) project as it pushes ahead, three people familiar with the matter told Reuters.Among the parties in talks with Chevron for a possible stake in Kitimat LNG are Petroliam Nasional Bhd [PETR.UL], or Petronas, which scrapped its own $36 billion LNG project in...Read More
Ontario is investing in innovative new technology projects in Northern Ontario that will help improve mine productivity, increase operating efficiencies, and help northern businesses expand their global market reach.Michael Gravelle, Minister of Northern Development and Mines, made the announcement today while speaking about the province's thriving mining industry during the official opening of th...Read More
Chinese silicon metal export prices continued to edge up on Friday March 2 amid renewed buying interest from Japanese buyers last week. Metal Bulletin's Chinese grade 553 silicon metal export price moved up to $2,010-2,050 per tonne on Friday, up 0.2% from the previous week. Tightness on spot availability persisted and is expected to be a dominant theme for March as a result of the halt of op...Read More
U.S. considering 'material changes' to 'Volcker Rule': Fed's QuarlesBy Kitco News For Kitco NewsFollow @kitconewsnownews@kitco.com 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, neither Kitco Metals Inc. nor the author can guarantee such accu...Read More
(Reuters) - U.S. stocks swung higher on Monday as fears of a global trade war eased following mounting pressure on President Donald Trump to hold off on his threat to impose hefty tariffs on steel and aluminum imports.The Dow was up 1 percent in early afternoon trading on Monday, after slumping 140 points at open, while all the 11 S&P sectors were higher, led by the information technology inde...Read More
Supply tightness pushed European antimony prices higher again over the past week, while the Chinese market was quiet with most consumers adopting a wait-and-see stance following the break for Chinese New Year.The European antimony market strengthened again this past week, with many sellers reluctant to part with material ahead of any further increases prompted by recovering Chinese demand. But som...Read More
WASHINGTON/JERUSALEM (Reuters) - U.S. President Donald Trump said on Monday he might travel to Israel for the opening of the U.S. embassy there as he and Israeli Prime Minister Benjamin Netanyahu presented a united front against Iran in White House talks.Trump’s decision for the United States to recognize Jerusalem as the capital of Israel and move the embassy there from Tel Aviv reversed de...Read More