Increased aluminium availability in Europe has applied further downward pressure to falling premiums in the region, following the Section 232 announcement.The benchmark duty-paid premiums fell 3% to $158-168 per tonne on Friday March 9 from $163-173 per tonne the week before, while the duty-unpaid premium fell to $93-103 per tonne last Friday from $95-105 per tonne on Tuesday March 6.US Presi...Read More
Jack ChanPosted Mar 12, 2018GLD – on sell signal.***SLV – on buy signal.***GDX – on buy signal.***XGD.TO – on buy signal.***CEF – on sell signal.***GDXJ – on buy signal.***Speculation is in bull market values.Data is supportive for overall higher prices.The is a massive bottoming pattern four years in the making.SummaryLong-term – on major buy signal.Short...Read More
Allison LampertMONTREAL (Reuters) - Canadian Prime Minister Justin Trudeau promised aluminum and steelworkers on Monday he would defend them against possible U.S. tariffs and called U.S. President Donald Trump to stress that“mutually beneficial” cross-border supply chains should be preserved.Trump said last week he would impose import tariffs of 25 percent on steel and 10 percent for a...Read More
Hyperinflation is the most prominent factor that makes Venezuela the most miserable country in the world, according to the latest finding from famed economist Steve Hanke.In the latest update of his Misery Index, Hanke, economist at Johns Hopkins University, ranked 98 countries in terms of happiness in relation to their economic conditions."In the sphere of economics, misery tends to flow from hi...Read More
Spot prices for ammonium paratungstate (APT) and tungsten concentrates continued to rise last week when sellers raised their offers or declined to offer at all while Chinese raw materials are in tight supply. APT and oxide supplies continue to tighten while Chinese output slows Sellers decline to offer intermediates due to concerns over replacement cost, availability Profit-taking prompts fall in...Read More
(Kitco News)- Largespeculators’ net positioning did not change much in gold futures but the netbearish position in silver was scaled back according to the latest datagathered by the Commodity Futures Trading Commission.Duringthe week-long period through March 6 that was covered by the report, Comex April gold rose $16.60 to $1,335.20an ounce. May silver rose 35 cents to $16.784.Netlong or sh...Read More
(Kitco News)- Gold is lower again this morningand last week's rally to $1,340 is a distant memory. The only thing that canhelp gold here is the oversold conditions and a dead-cat bounce. The pattern ingold is ugly, making lower highs and lower lows. Now, $1,300 is the key levelthat gold must hold or $1,240 is in the cards.There are so many things that arein play here when it comes to the metals. T...Read More
The Chinese ferro-silicon spot market slumped over the past week because of slow demand from key consumers in the steel and magnesium sectors.The market will be vulnerable to further losses if there is no upturn in demand in the near term. Chinese demand lags behind supply... ...and domestic prices fall more than 10% Europe price range widens amid uncertainty US market eases, wary of renewed impor...Read More
CloseGain/LossGold $1323.70+$0.20Silver$16.55-$0.03XAU79.67+0.98%HUI174.41+0.86%GDM607.04+0.60%JSE Gold1105.94-20.68USD89.88-0.25Euro123.42+0.34Yen94.06+0.37Oil$61.36-$0.6810-Year2.867%-0.030T-Bond144.75+0.59375Dow25178.61-0.62%Nasdaq7588.32+0.36%S&P2783.02-0.13% The Metals: Gold fell $9.10 to $1314.40 at about 8AM EST, but it then rallied back higher throughout most of trade in New York a...Read More
- Recent stock market selloff showed gold can deliver returns and reduce portfolio risk- Gold's performance during stock market selloff was consistent with historical behaviour- Gold up nearly 10% in last year but performance during recent selloff was short-lived- The stronger the market pullback, the stronger gold's rally- WGC: 'a good time for investors to consider including or adding gold as...Read More
(Kitco News)- Gold continues to see selling pressure as both theshort-term fundamentals and the technical picture have deteriorated. Gold'sfailure to break above the $1,337 level early last week and the subsequentbreak of $1,322 overnight suggests the technical picture may have turnedbearish. The FOMC meeting next week is expected to bring a 25-basis-pointincrease in rates, especially after Friday...Read More
A week-long strike by workers with trade union representation at South America's largest zinc smelter, Cajamarquilla, has ended, owner Nexa Resources has confirmed."The strike is over. Nexa Resources reached an agreement with the Labour Union on Friday [March]...Read More
Focus in on retaliation measures after Trump's tariff. Traders have ignored the exceptional US February nonfarm payroll numbers. Global stock markets are expected to rise. Sentiment for the US dollar is still weak. Now the focus will be on the FOMC meet. The pace of interest rate hikes is the key and not the actual hike. An early Easter (in March) does have temporary economic implications. I b...Read More
Lewis KrauskopfNEW YORK (Reuters) - U.S. President Donald Trump’s move to impose tariffs on steel and aluminum imports has rippled through financial markets, but stocks appear to be shrugging off the potential for a broader global trade war, according to Goldman Sachs strategists.As Trump’s tariff plans to levy steel imports at 25 percent and aluminum at 10 percent have come to light i...Read More
Ayenat MersieNEW YORK (Reuters) - Oil prices fell on Monday as investors grappled with ongoing concerns over rising U.S. output and tight OPEC supply, while last week’s data showing speculators cut bets on oil suggested more selling could be seen.Brent crude futures LCOc1 were down 63 cents, or 1 percent, by 1:32 p.m. EDT (1732 GMT), to $64.86 per barrel.U.S. West Texas Intermediate (WTI) cr...Read More
Spot prices for ammonium paratungstate (APT) and tungsten concentrates continued to rise last week when sellers raised their offers or declined to offer at all while Chinese raw materials are in tight supply. APT and oxide supplies continue to tighten while Chinese output slows Sellers decline to offer intermediates due to concerns over replacement cost, availability Profit-taking prompts fall in...Read More
If you're getting the sense that stocks always go up, that's because they've been doing so for a really, really long time. From CNBC today: On the bull market’s ninth birthday, here’s how it stacks up against history?EUR?The Dow has quadrupled during the bull market, which turned 9 on Friday.?EUR?This is the biggest and longest bull market for the Dow post-WWII, according to Leuthold G...Read More
Exploring the Kutcho high-grade copper-zinc-silver-gold project located 100 km east of Dease Lake, northern British Columbia. Photo courtesy Kutcho Copper Corp.Kutcho Copper Corp. [KC-TSXV], formerly Desert Star Resources Ltd., recently completed the acquisition of the Kutcho high-grade copper-zinc-silver-gold project located 100 km east of the small community of Dease Lake, northern British Colum...Read More
Catherine Ngai(Reuters) - Goldman Sachs Group Inc (GS.N) unexpectedly announced on Monday that Harvey Schwartz will retire from the bank, leaving David Solomon as sole president and chief operating officer and the most obvious successor to Chief Executive Lloyd Blankfein.Schwartz and Solomon were named co-COO in December 2016 in a setup that appeared to pit the two against each other to eventually...Read More