Gold capped at 1340 NFP on Friday is the next market mover Gold is trading lower at 1324 down 0.78% on the day after jumping more than $5 on the news that Cohn, top Trump economic advisor resigned. The news was perceived quite bearish for the economy as a whole. However, the bull breakout was short-lived as $1340 seemed to be a profit-taking area for bulls and an entry point for bears. Go...Read More
The provisional data from precious metals consultancy GFMS and bank dealers showed that India’s gold imports dropped a quarter from a year ago to 63 tonnes last month, Reuters reports. The decline in India’s gold imports can be attributed to higher prices, which dented the demand in the world’s second largest yellow metal consumer. Key Highlights: Lower gold imports could al...Read More
Gold closes in on a confirmed immediate-term breakout signal.This time around, silver is (thankfully) leading the way.Dollar weakness, not safety buying, is the prime motivating factor.After spending the last few weeks in a lackluster sideways trend, the gold price is finally showing signs of life again after last week's brief scare. Encouragingly, gold showed strength on Tuesday even despite a li...Read More
Trade war fears have boosted gold price as expected, confirming a short-term bottom, although only a convincing break above the key trendline resistance would allow a sustained a rally to $1,366 (Jan. 25 high) and above. Daily chart Last Thursday's long-tailed Doji candle followed by a violation of the falling top pattern (marked by descending trendline) and a rise to $1,340 yesterday s...Read More
• Struggles to gain traction, despite supportive factors. • Traders opt to take some profits off the table. • US ADP report eyed for some fresh trading impetus. Gold extended its steady retracement slide from 1-1/2 week lows and traded with a mild negative bias through the mid-European session. Reviving fears of a possible globa...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterThe TSX Venture Exchange dropped 11.63 points to 831.94 Wednesday. Roger Daher's Skyscape Capital Inc. (SKY) completed its qualifying transaction yesterday, following an initial public offering of $500,000 at 50 cents. The stock has ye...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold fell $9.30 to $1,324.90 on Wednesday. The TSX Venture Exchange lost 11.63 points to 831.94 while the TSX Gold Index fell 3.89 points to 181.95. Klondex Mines Ltd. (KDX) led Canadian gold miners lower today, dropping...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Wednesday was a poor 59-94-137. The TSX Venture Exchange fell 11 points to 831 while rough diamond prices gained 0.2 per cent. Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC) traded act...Read More
Prices for rebar produced and delivered in Southern Europe narrowed upward by ?,?15 ($19) per tonne this week amid higher scrap costs and milder weather conditions across the continent, sources told Metal Bulletin."All of the mills in Spain are pushing up their prices. Raw materials [costs] are up and I believe that scrap [prices] will bounce again. I think the market will keep rising," one Southe...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellThe Alberta Securities Commission has found against a Calgary man and his assistant for an 11-year fraud that raised at least $137-million. The ASC says that the man solicited investors on the basis that they would be putting their money into instrume...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for April delivery gained three cents to $62.60 on the New York Merc, while Brent for May gained 25 cents to $65.79 (all figures in this para U.S.). Western Canadian Select traded at a discount of $24.30...Read More
Prices for rebar produced and delivered in Northern Europe have remained stable over the past seven days despite better demand for the material, market participants told Metal Bulletin on Wednesday March 7.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?550-570 ($681-705) per tonne delivered on Wednesday, unchanged week-on-week."Business is picking...Read More
Investors retreated from gold-based exchange-traded funds in February, as volatility in the price of the precious metal made it a less-attractive haven asset despite U.S. stocks seeing sharp losses over the same period. According to Gold.org, an industry data group, gold funds experienced outflows of $142.3 million over the month, which translates into 5.1 metric tons of physical gold (popular gol...Read More
Base metals prices on the London Metal Exchange slumped by the 5pm close on Wednesday March 7, with uncertainty stemming from the latest developments over the US' Section 232 probe leading to a sell-off.Aluminium was the most traded metal of the complex today, with more than 20,000 lots changing hands by the close. Its price fell 1.6% - it concluded below support at $2,100 per tonne.The cash/three...Read More
Nickel premiums in Europe crept higher on Tuesday March 7 on tight availability and declining London Metal Exchange nickel stocks, while Asian nickel premiums were stable due to the sustained negative arbitrage in China and amid slow trading activity. European nickel premiums higher due to tight availability Quiet trading activity reported in both China and other Asian regions US nick...Read More
Fears about a looming aluminium duty from the United States' Section 232 investigations have dashed hopes of the market taking advantage of a widening import aluminium arbitrage between Asia and the US. The differential between canceling aluminium from London Metal Exchange warehouses in Asia and shipping the material into the US Midwest has reached an all-time high, but the market is skepti...Read More
Around 2.5 million tonnes of copper output is exposed to high disruption risks this year in Chile, the country's copper commission said at Metal Bulletin's International Copper conference in Madrid on Wednesday March 7. The figure represents 43.4% of the total forecast output for 2018 from the world's top copper producing country, Jorge Cantallopts, director of public planning and research with Co...Read More
Comex copper prices dipped in the US morning on Wednesday March 7 with a confluence of bearish signals, including a potential trade war and higher dollar, weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 2.80 cents or 0.9% to $3.1310 per lb. "Most of the base metals remain on a back footing this morning and that seems to...Read More
Tin premiums for standard 300ppm purity held in all region in the latest assessment on Tuesday March 6 on rising exports from Indonesia and low buying interest, while rates for low-lead tin retreated further from record highs after supply also improved. 99.9% tin premiums stable in Europe, the United States and China Indonesia's ICDX volume for exports up a third in February from January&nb...Read More
The latest metal markets news and price moves to start the North American day on Wednesday March 7.Base metals prices on the London Metal Exchange were lower across the board during morning trading- with nickel diving 1.6%.Here's how prices looked at 12:07 London time:Read our live futures report here. "Most of the base metals remain on a back footing this morning and that seems to be a resul...Read More