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
SHANGHAI, Mar 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the euro dipped, the US dollar index rebounded and hovered around 89.7 overnight while most base metals climbed up. The growing number of cancelled warrants drove LME nickel to hit a two-week high. LME and SHFE zinc dropped about 2% as inventories grew.China’s tota...Read More
Published on: Mar 15, 2018 | by finfeedPacifico Minerals (ASX:PMY) has entered into a Binding Option and Terms to Purchase agreement to acquire all issued capital in Minera GS S.S. de C.V., a private gold mining and exploration company incorporated in Mexico.As a result of the agreement, PMY will acquire the rights to the highly prospective Violin project, which is situated within the Mexican Guer...Read More
NEW YORK (Reuters) - A long rally in technology stocks has left investors thirsting for more, but that could be a mistake as the strengthening U.S. economy points to better value in other stocks.Heavyweights like Apple (AAPL.O), Alphabet (GOOGL.O) and Facebook (FB.O) have especially helped growth indexes in the past year rise more than value indexes, which right now are heavily weighted in financi...Read More
Inflation over time raises the cost of raw metal and we see that such coins vanish from the money supply. Britain is the latest in line to eliminate the 1 & 2 pence coins. They are costing more to produce than they are worth. I have written about the monetary reform Act of 1857 when the penny was drastically reduced in size. Canada eliminated the penny as well.The United States dropped copper...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
SHANGHAI, Mar 15 (SMM) –Copper: After it gained support at the five- and 10-day moving averages, LME copper is expected to hit and test the 20-day moving average in the short term. Prices are seen at $6,980-7,030/mt today. SHFE copper is set to test support at the five-day moving average and trade at 52,580-53,000 yuan/mt today. We see spot prices at a premium of 50-100 yuan/mt.Aluminium: We...Read More
SHANGHAI, Mar 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the euro dipped, the US dollar index rebounded and hovered around 89.7 overnight while most base metals climbed up. The growing number of cancelled warrants drove LME nickel to hit a two-week high. LME and SHFE zinc dropped about 2% as inventories grew.China’s tota...Read More
The latest metal markets news and price moves to start the North American day on Thursday March 15.The LME aluminium price shrugged off news of a 22,270-tonne delivery in to listed warehouses in Port Klang. But the three-month tin price was the worst performer, falling $350 to $20,800 per tonne, coming under pressure from improved availability in China. Here is how the LME base meta...Read More
SHANGHAI, Mar 15 (SMM) –Copper: After it gained support at the five- and 10-day moving averages, LME copper is expected to hit and test the 20-day moving average in the short term. Prices are seen at $6,980-7,030/mt today. SHFE copper is set to test support at the five-day moving average and trade at 52,580-53,000 yuan/mt today. We see spot prices at a premium of 50-100 yuan/mt.Aluminium: We...Read More
WASHINGTON (Reuters) - U.S. regulators are preparing to sanction Wells Fargo for receiving commissions on auto insurance policies it helped force on more than half a million drivers, people with direct knowledge of the probes told Reuters.In July, Wells Fargo blamed a third-party vendor for wrongly layering insurance policies on its auto borrowers. Wells Fargo did not explain that it received payo...Read More
(Kitco News) - Gold prices may ease in the near to intermediate term as markets factor in Federal Reserve rate hikes in 2018, but the downside should be limited by political uncertainty and trade tensions, according to a report by Standard Chartered. Later in the year, the metal should draw support from a weaker U.S. dollar and rising inflation expectations, the bank said in a research note Wednes...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Thursday March 15.Base metals traded on the Shanghai Futures Exchange were broadly weaker during Asian morning trading on Thursday, with heavy losses seen in nickel and zinc prices, while lead was the only metal to push higher. Disappointing US data overnight and dovish speech from European...Read More
SHANGHAI, Mar 15 (SMM) –Copper: After it gained support at the five- and 10-day moving averages, LME copper is expected to hit and test the 20-day moving average in the short term. Prices are seen at $6,980-7,030/mt today. SHFE copper is set to test support at the five-day moving average and trade at 52,580-53,000 yuan/mt today. We see spot prices at a premium of 50-100 yuan/mt.Aluminium: We...Read More
ZURICH (Reuters) - Swiss National Bank Chairman Thomas Jordan said U.S. protectionist tendencies posed a big risk to the Swiss economy and could trigger renewed demand for the traditional safe-haven Swiss franc.“The risks have not materialised yet, but if international trade doesn’t function well, that is damaging for everyone,” Jordan told Swiss broadcaster SRF in an interview o...Read More
(Kitco News) - Gold continues to wobble around in a tight range, with support around the $1,322 level and resistance overhead at $1,328. The tariff scare has been watered down considerably with the Trump administration granting exemptions to a number of countries. Traders are eyeing any response from China, where President Trump continues to focus on the large trade deficit between the U.S. and th...Read More
BRUSSELS (Reuters) - The European Ombudsman called on the EU executive on Thursday to review whether its former president, Jose Manuel Barroso, ought to be working for Goldman Sachs after complaints that he was harming the EU’s image.The recommendation from the bloc’s ethics watchdog follows a year-long inquiry triggered after Barroso, a former Portuguese premier who led the European C...Read More
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
Warren Buffett is one of the most successful investors of all time, and there have been countless articles, books, and studies written about his approach to building wealth.But if you asked me to break down his philosophy into three simple ideas, this is how I would do it...Buffett-ism #1:Seek out cash cows.It's no secret that Buffett loves insurance companies.But why does he love them so much? Be...Read More
NEW DELHI (Reuters) - India does not consider the stand-off with the United States at the World Trade Organisation over export subsidies to be the beginning of a trade war, Indian trade secretary Rita Teaotia told reporters on Thursday.The United States on Wednesday launched a challenge to Indian export subsidies at the World Trade Organization, saying they hurt U.S. companies by letting Indian ex...Read More