RAPAPORT... The Dubai Diamond Exchange (DDE) has elected a new board of directors,featuring a range of professionals from across the industry, the bourse saidMonday. New members include Amit Dhamani, CEO of Dhamani Jewels;Davy Blommaert, the diamond-and-metals chief at the National Bank of Fujairah;and Gautam Sashittal, CEO of the Dubai Multi Commodities Centre (DMCC). AhmedBin Sulayem will contin...Read More
Once again, a strong U.S. dollar has curtailed any sustained upside move in gold. Today, for example, traders bid up spot gold by $5.20. However, dollar strength took away $4.60 of that move. This resulted in gold pricing gaining only $0.60 in the physical market, according to the Kitco Gold Index (KGX).Gold prices did, in fact, firm in trading today after President Trump said that he is canceling...Read More
Eastern China's domestic rebar prices maintained their downward trend on Tuesday May 8 due to softer demand, while in northern China prices were flat in stable trading.Domestic Eastern China (Shanghai)): 3,980-4,030 yuan ($625-633) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,890-3,940 yuan per tonne, unchangedIn eastern China, demand decreased for a second day because end use...Read More
LONDON (Reuters) - The dollar surged to a 2018 high against its rivals on Tuesday as a rout of the euro prompted traders to buy the greenback despite some concerns its rally may have been too quick.Against a basket of rivals, the dollar .DXY has surged about 4.5 percent in three weeks as expectations that other major central banks would follow the U.S. Federal Reserve in normalizing monetary polic...Read More
It produced 824,000 ounces of gold during the three-month period, down 0.7% year-on-year, although all-in sustaining costs dropped 3% on the year to US$1,029 per ounce.Read More
LONDON (Reuters) - The World Gold Council, owner of the world’s largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters.The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed mana...Read More
(Kitco News) - Gold prices briefly rallied to session highs as President Donald Trump officially pulled U.S. support from the international nuclear agreement with Iran; however, analysts say that more needs to happen for gold to see sustainable gains.According to some market observers, Trump’s comment on the agreement, formally known as the Joint Comprehensive Plan of Action, was not a surpr...Read More
The 25.97-carat rough "ÄRE Emerald" is among 850 carats of "high quality gemstones" recovered in 214 tons of material extracted to date. That material yielded 1,831 carats of rough emeralds in total, according to Fura, which wants to sample 30,000t over the balance of the year."Work has also already commenced on the maiden mineral resource at Coscuez, and we are hoping to have this completed...Read More
Chinese ferrous futures mostly increased during morning trading on Tuesday May 8, with the exception of the coking coal and coke contracts, which fell slightly.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,658 yuan ($575) per tonne, up 3 yuan per tonneOctober hot-rolled coil: 3,752 yuan per tonne, up 10 yuan per tonneDalian Commodity Exchange September iron or...Read More
SHANGHAI, May 9 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index broke the 93 level and registered a fresh four-month high of 93.29 overnight following the hawkish comments from the Federal Reserve Board chairman Jerome Powell. The US President Donald Trump’s announcement to withdraw the US from the Iran nuclear...Read More
SHANGHAI, May 9 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index broke the 93 level and registered a fresh four-month high of 93.29 overnight following the hawkish comments from the Federal Reserve Board chairman Jerome Powell. The US President Donald Trump’s announcement to withdraw the US from the Iran nuclear...Read More
SHANGHAI, May 9 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index broke the 93 level and registered a fresh four-month high of 93.29 overnight following the hawkish comments from the Federal Reserve Board chairman Jerome Powell. The US President Donald Trump’s announcement to withdraw the US from the Iran nuclear...Read More
RAPAPORT... Revenue from the retail division of Warren Buffett'sBerkshire Hathaway increased 5% to $3.64 billion in the first quarter, thecompany reported Saturday. The improvement in the segment, which includes jewelrychains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, was primarilydriven by the company's automotive sector, as well as candy sales over theEaster holiday. Pre-tax earnings f...Read More
Free Copper Tips – Copper SELL Call 7e1 given at price 460 Achieved 1st Target 458 & 2nd Target 457 today. Made 449.50 Low. Profit of 3 Point x 2lot = 6 Points in Crude Sell carry call7e1 : Copper Tips - SELL Copper at CMP 460 for Target 458 - 457 with SL Above price 461.50. Trade 2 lotsAFTER POST CONTENT Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. First quarter reports continue to pour in. Reporting companies since yesterday's close included AMC Entertainment, Crocs, Dean Foods, Discovery, Dish, George Weston, Hertz, Jacobs Engineering, Mosaic, Nutrien, SeaWorld, Valeant, WestJet and Zillow.The Canadian Dollar was virtually unchan...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump will request a package of $15 billion in spending cuts from Congress on Tuesday, including some $7 billion from the Children’s Health Insurance Program championed by Democrats, senior administration officials said on Monday.The proposal comes as the White House and conservative Republicans in the U.S. Congress were edging away from a threat...Read More
(Kitco News) - Gold prices saw a modest rally in early-afternoon U.S. trading Tuesday, as U.S. President Donald Trump announced the U.S. is pulling out of the 2015 agreement with Iran regarding that nation halting its nuclear weapons program. However, prices have pulled back a bit from session highs scored just after Trump started his speech. Still, gold prices are modestly above where they were j...Read More
SHANGHAI, May 8 (SMM) – Nonferrous metals futures rose for the most part on Tuesday May 8 but at slower rates from the previous day. SHFE zinc led the gains with an increase of 1.34%, lead grew over 1% and aluminium and copper inched up. Nickel fell from highs to close nearly 1% higher. Tin dipped nearly 0.9% from Monday.The ferrous complex saw mixed&n...Read More
SHANGHAI, May 8 (SMM) – Nonferrous metals futures rose for the most part on Tuesday May 8 but at slower rates from the previous day. SHFE zinc led the gains with an increase of 1.34%, lead grew over 1% and aluminium and copper inched up. Nickel fell from highs to close nearly 1% higher. Tin dipped nearly 0.9% from Monday.The ferrous complex saw mixed&n...Read More
Copper Carry Call – BUY Copper at CMP 455.7 Add more at price 454 with SL 452.70 for Target 459 – 461AFTER POST CONTENT Read More