The latest news and price moves to start the Asian day on Friday March 16. Base metals prices on the London Metal Exchange were mostly lower at the close on Thursday March 15, apart from zinc and lead. Read more in our live futures report. Here are how LME prices looked at Thursday's close:Norwegian ferro-silicon producer Finnfjord Smelteverk plans to cut about 5,000 tonnes of production...Read More
Gold is trading lower this morning and most media reports attribute the weakness to next week's Federal Reserve Open Market Committee meeting. At that meeting, as we have heard endlessly, the Fed is scheduled to raise interest rates by a quarter of a point, and rising interest rates are bad for gold.But are they? Paul Farrugia of First Macro Capital put together a fairly detailed analysis of the...Read More
(Reuters) - The Dow Jones Industrial Average added more than 200 points on Thursday as industrial stocks gained after the White House trade adviser sought to play down chances of a trade war due to protectionist policies.President Donald Trump’s tough approach to global trade, including new tariffs on metals imports, will not necessarily provoke retaliation from trading partners, Peter Navar...Read More
– Gold Cup at Cheltenham – ‘The Olympics’ of the European horse racing calendar – Gold Cup trophy contains 10 troy ounces of gold – worth £9,000– £620 million bets on horses, 230,000 pints of Guinness will be drunk, 9.2 tonnes of potato eaten – Since the 5th century BC, gold has been the ultimate prize...Read More
CloseGain/LossGold $1316.50-$8.70Silver$16.39-$0.16XAU78.81-1.23%HUI171.57-1.50%GDM600.49-1.22%JSE Gold1067.94-9.34USD90.15+0.41Euro123.05-0.62Yen94.11-0.03Oil$61.19+$0.2310-Year2.825%+0.008T-Bond145.96875+0.09375Dow24873.66+0.47%Nasdaq7481.74-0.20%S&P2747.33-0.08% The Metals: Gold edged up to $1327.90 in Asia before it dropped back to $1315.00 in midafternoon New York tr...Read More
CloseGain/LossGold $1316.50-$8.70Silver$16.39-$0.16XAU78.81-1.23%HUI171.57-1.50%GDM600.49-1.22%JSE Gold1067.94-9.34USD90.15+0.41Euro123.05-0.62Yen94.11-0.03Oil$61.19+$0.2310-Year2.825%+0.008T-Bond145.96875+0.09375Dow24873.66+0.47%Nasdaq7481.74-0.20%S&P2747.33-0.08% The Metals: Gold edged up to $1327.90 in Asia before it dropped back to $1315.00 in midafternoon New York tr...Read More
The insanity of Central Bankers knows no bounds.The latest indication of just how far "down the rabbit hole" the financial world has gone comes from Japan where it was announced that the Bank of Japan bought 75% of Japanese Government Debt issuance in FY17.That is not a typo. Japan's Central Bank bought $3 out of every $4 in debt Japan issued in fiscal year 2017. And it now owns 40% of Japan's tot...Read More
Dutch wire products supplier Van Merksteijn has confirmed that it has ordered an electric arc furnace (EAF) and wire rod rolling mill, enabling the company to secure supplies and substantially reduce its reliance on wire rod imports.The new facility will have a wire rod production capacity of 900,000 tonnes per year, and will be built at the seaport of Eemshaven in the north of the Netherlands.Wir...Read More
Full Article: MGX Minerals Engages Hatch Ltd. for Magnesium Metal Study VANCOUVER, BRITISH COLUMBIA / March 15, 2018 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to announce that as a result of the recently announced positive Preliminary Economic Assessment ("PEA") for the production of 161,000 net tonnes per year of magnesium oxide (MgO) at its...Read More
For a while there it looked like the blow-off top of this expansion was somewhere in the future. Now it's starting to look like 2017 was as good as it's going to get - with serious implications for stocks, bonds and real estate. At least that's what interest rates now seem to imply. From today's Wall Street Journal: Yield Curve Once Again Sends Dour Signal on EconomyA bond market barometer that...Read More
Stocks extended their short-term losses on Wednesday, as they retraced most of last week's Friday's rally. The broad stock market failed to continue its rebound from February 9 low despite technology stocks reaching new record highs. Investors' sentiment worsened again following economic news, trade war fears. There are still two possible future scenarios. Or maybe three, but the third one is the...Read More
Where is the gold bull market that we predicted would begin about now? Here is our broad-based overview. The financial markets continue to expect an aggressive Fed going forward with four-even five-rate hikes this year and a continuing shrinkage of its balance sheet (Quantitative Tightening). Given this, gold has held up pretty well, essentially range trading, but the gold stocks have suffered bec...Read More
The insanity of Central Bankers knows no bounds.The latest indication of just how far "down the rabbit hole" the financial world has gone comes from Japan where it was announced that the Bank of Japan bought 75% of Japanese Government Debt issuance in FY17.That is not a typo. Japan's Central Bank bought $3 out of every $4 in debt Japan issued in fiscal year 2017. And it now owns 40% of Japan's tot...Read More
Who will win: bulls or bears? The LBMA published its annual forecast survey for precious metals prices in 2018. Gold prices range from $1,120 to $1,510. Where is the price of the yellow metal headed? Summary of the SurveyThe views of about 30 analysts in the 2018 forecasts are strongly divergent. The average price of gold is projected to be $1,318, so it is expected to be around the current lev...Read More
Full Article: Is Silver Set to Take Off?By: Darren BlasuttiSilver is set to rally, but only in the medium to long-term, said Darren Blasutti, CEO of Americas Silver Corp."I think we're particularly positive on silver, but I think we're out two or three years before we see that real change in silver, but we're very bullish right now on zinc and lead, and copper," Blasutti told Kitco News on the si...Read More
WASHINGTON (Reuters) - The U.S. International Trade Commission said on Thursday it had made a final finding that imports of aluminum foil from China hurt U.S. producers, a move that locks in place hefty duties of up to 188 percent on Chinese exporters.The “final phase” finding came in an anti-dumping and anti-subsidy case brought by the Aluminum Association Trade Enforcement Working Gr...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar Egypt, domestic (Beshay Steel), rebar, offered at...Read More
Volatility setting up like 2014/2015, Get ready for some interesting range rotation and price swings.Our recent research shows that the current US markets are setting up for what could become a very interesting price range rotation as well as increased volatility. Our team of researchers at Technical Traders Ltd. have identified a number of key elements that appear to be in place similar to 201...Read More
By Michael J. KosaresGold is trading lower this morning and most media reports attribute the weakness to next week's Federal Reserve Open Market Committee meeting. At that meeting, as we have heard endlessly, the Fed is scheduled to raise interest rates by a quarter of a point, and rising interest rates are bad for gold.But are they? Paul Farrugia of First Macro Capital put together a fairly d...Read More
(Kitco News) - Gold prices have modestly extended overnight losses in late-morningtrading Thursday. The U.S. dollar index is trading near its session high, to continue its keen daily influence--in aninverse fashion--over the gold market. A lack of geopolitical tensions in themarketplace the past few weeks has also worked against the safe-haven metal.Aprilgold was last down $7.50 at $1,318.20. By...Read More