(Kitco News)- Technicalselling in gold is dominating the marketplace Wednesday after private-payrollsprocessor ADP reported stronger-than-expected job growth in February.ADP said that 235,000jobs were created in February. According to consensus forecasts, economistswere expecting to see job gains of 199,000. Not only did February employment beat expectations, but January's data were revised higher...Read More

The Bank for International Settlements reduced its use of gold swaps and other gold-related derivatives during February, according to the bank's statement of account for the month:https://www.bis.org/banking/balsheet/statofacc280218.pdfThis decrease follows a large increase in the bank's gold swaps in January. In recent months the BIS has been actively trading gold derivatives and the amounts di...Read More

Iron ore prices fell further on Wednesday March 7 with a cargo of seaborne materials changing hands below $75 per tonne cfr China.Key driversChina's ferrous futures tumbled across the board during the day, with the benchmark contracts shedding 0.5-2.4% of their values compared with the settlement prices on Tuesday.The country's spot rebar and hot-rolled coil prices also fell 20-50 yuan ($3.20-7.90...Read More

The precious metals sector continues to correct and consolidate. Gold remains in a bullish consolidation. It recently reached Continue...Read More

Index futures have plunged Tuesday night on news that Gary Cohn, Trump's top economic adviser, is resigning. The selloff has brought the E-Mini futures down to within an inch of triggering a 'mechanical' buy I'd flagged at 2687.00. Ordinarily I'd say jump on it using the precautions I'd advised to set up a low-risk entry point. After all, who the heck is Gary Cohn, anyway? I could not have a...Read More

TOKYO (Reuters) - Japan's financial regulator will slap administrative punishment notices on several cryptocurrency exchanges this week and plans to force some to suspend their business, people with direct knowledge of the matter said on Wednesday.The Financial Services Agency may also order Coincheck Inc - the exchange targeted by hackers in a $530 million theft of digital money - to raise its st...Read More

Iranian export prices for steel billet and slab continued to rise in the week ended Wednesday March 7 with bookings agreed at higher prices, supported by the upward trend in the global market and reduced availability of the materials.Metal Bulletin's weekly price assessment for Iranian billet exports narrowed upward to $518-520 per tonne fob on March 7, against $510-520 per tonne fob a week earlie...Read More

- Gold no longer fears or pays attention to Fed announcements regarding interest rates- Renewed interest in gold due to inflation fears and concern Fed won't do enough to control it- Higher interest rates on horizon will make debt levels unsustainable- New Fed Chair warns "the US is not on a sustainable fiscal path" and could lead to an "unsustainable" debt load- Higher interest rates are good f...Read More

Wall Street is braced for heavy selling at the opening bell Wednesday as global investors fret over an escalating trade war after a key economic adviser to President Donald Trump abruptly left the White House yesterday after failing to convince him to reverse plans for import tariffs on steel and aluminium. Gary Cohn's departure from the Trump Administration sent markets in Asia lower and Europe...Read More

Trade wars will increase as the Trump administration is considering clamping down on Chinese investments in the USA along with imposing tariffs on a broad range of Chinese imports. Gary Cohn resigning as Trump's top economic advisor will be bearish for the US dollar and bullish for gold. Key US economic data releases begin from today with February US private ADP jobs number. It remains to be s...Read More

China's domestic rebar prices decreased further on Wednesday March 7 amid weakening futures. Domestic Eastern China (Shanghai): 3,920-3,980 yuan ($619-629) per tonne, narrowed downward by 20 yuan per tonneNorthern China (Beijing): 4,000-4,030 yuan per tonne, down 30 yuan per tonneRebar futures started dropping as soon as the morning trading session began, which led to bearish sentiment spreading i...Read More

WASHINGTON (Reuters) - Economic nationalists appeared to gain the upper hand in a White House battle over trade with the resignation of Donald Trump’s top economic adviser, Gary Cohn, on Tuesday in a move that could ramp up protectionist measures that risk igniting a global trade war.Cohn did not spell out the reasons for his resignation. He had told Trump that markets would slump on a tarif...Read More

Japan's Kobe Steel has rolled out a series of measures to prevent incidents such as its recent data-falsification scandal from recurring again.This includes replacing some of its executives and restructuring its management and reporting systems, the steelmaker said on Tuesday March 6.An external director will serve as...Read More

(Reuters) - The Dow Jones Industrial Average opened 1 percent lower on Wednesday as the exit of free trade backer Gary Cohn triggered concerns that President Donald Trump may move ahead with his threat to impose hefty metal tariffs and ignite a global trade war.The Dow Jones Industrial Average .DJI fell 289.31 points, or 1.16 percent, to 24,594.81. The S&P 500 .SPX lost 23.65 points, or 0....Read More

NEW YORK (Reuters) - While February’s stock market sell-off and renewed volatility battered macro hedge funds, some escaped unscathed: Quest Partners’ flagship fund returned 18.9 percent in the year through mid-February for clients that include the pension fund for the New York police and fire departments.“The majority of our clients are trying to add to their positions with us,&...Read More

SACRAMENTO (Reuters) - California Governor Jerry Brown on Wednesday accused President Donald Trump’s administration of declaring war on the most populous U.S. state after the Justice Department sued to stop policies that protect illegal immigrants against deportation.The Democratic governor made the charge shortly after Attorney General Jeff Sessions, in a speech in the state capital, intens...Read More

WASHINGTON (Reuters) - An economist who believes that Chinese goods are literally poisoning Americans, advocates ending Washington’s “One China” policy and says trade deals have weakened the United States economically with the connivance of U.S. business has emerged as the big winner from renewed turmoil in the White House.While Peter Navarro says he is not in the running to repl...Read More

By Amedee MwarabuKINSHASA, March 7 (Reuters) - Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code that is vigorously opposed by industry, according to the government and mining companies.The announcement followed a nearly six-hour meeting on Wednesday between Kabila and mining executives in Kinshasa about the new code, which will raise taxes and remove a...Read More

SP Angel's John Meyer discusses with Proactive Investors' Andrew Scott some of the 'transformational' developments being made in flying car and electric plane technologies.Meyer highlights the potentially huge market for rare earth metals as well as other battery metals to power these new vehicles.In terms of those companies well positioned to benefit - he reckons it's worth taking a look at Afric...Read More

NEW YORK (Reuters) - Exxon Mobil Corp (XOM.N) on Wednesday outlined an ambitious capital spending plan it said would more than double annual earnings by 2025, hoping to allay investor fears that the world’s largest publicly traded oil producer has seen its best days.Despite the ambitious plan to woo Wall Street, Exxon shares slid 3.1 percent to their lowest level in more than two years.Once...Read More