* Dollar steadies vs yen after biggest 1-day drop since May* Yen supported by speculation of BOJ's eventual stimulus exit By Masayuki KitanoSINGAPORE, Jan 11 (Reuters) - The dollar nursed its losses against the yen on Thursday, having suffered its biggest one-day drop in nearly eight months following a report that China was ready to slow or halt its purchases of U.S. Treasuries.Officials reviewin...Read More
A wave of labor negotiations at several of the world's leading copper mines is taking place this year and could have a significant impact to the global copper supply and prices.Among such talks are BHP-operated Escondida mine, Antofagasta's Los Pelambres and several of Codelco's mines, all in...Read More
LONDON, Ontario (Reuters) - Canada is increasingly convinced that U.S. President Donald Trump will soon announce that the United States intends to pull out of the North American Free Trade Agreement, two government sources said on Wednesday.The sources said they expected Trump would make his move at about the same time that negotiators from the United States, Canada and Mexico meet in late January...Read More
The London Metal Exchange closed 2017 in positive fashion as average daily volume (ADV) climbed 19.3% after two previous months of decline. Lead was the strongest performer, with ADV climbing over 50% from December 2016 with 55,717 lots. Last month, lead was the only base metal to record a significant year-on-year increase. Copper's ADV was up 24.3% from the previous year to 150,723 lots, after it...Read More
Key data from the January 10 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeToday Previous Change to midpoint of range Midpoint % change 4.80-5.60 4.80-5.60 0 0 Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European ports Titanium scrap turnings, unprocessed (0.5-2% Sn) $ per l...Read More
ST. LOUIS (Reuters) - Sub-par inflation over the past five years has caused a shortfall in the United States economy versus its potential growth path, St Louis Fed President James Bullard said on Wednesday as he fleshed out a proposal for a more dynamic system of setting price increase goals.Several policymakers are encouraging the U.S. central bank to review its method for controlling inflation a...Read More
Steve Holland, Christine KimWASHINGTON/SEOUL (Reuters) - U.S. President Donald Trump said on Wednesday after the first intra-Korean talks in over two years that the United States was willing to speak to North Korea “under the right circumstances,” although it was far from clear whether this would pay dividends.South Korea said Trump had also said in a phone call with its President Moon...Read More
LONDON, Jan 10 (Reuters) - Officials reviewing China's foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries, Bloomberg News reported on Wednesday, citing people familiar with the matter.China has the world's biggest currency reserves and is the biggest foreign holder of U.S. government debt.According to the Bloomberg report, the sources said the market for U.S...Read More
Key data from the January 10 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeToday Previous Change to midpoint of range Midpoint % change 4.80-5.60 4.80-5.60 0 0 Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European ports Titanium scrap turnings, unprocessed (0.5-2% Sn) $ per l...Read More
Unspecified technical issues at Birla Copper's Dahej copper smelter have caused the plant to lower output and to delay scheduled cargoes of copper concentrates or to divert into the spot market, sources told Metal Bulletin.Tonnages due for January and February arrival at Dahej, a 500,000-tonne-per-year smelter in Gujarat in the west of India, have been postponed until later months or are being red...Read More
Cardinal Resources (ASX:CDV, CDV.TO) has now completed a close spaced drill program at the Namdini zone where the company plans to start its mining operations in a higher grade starter pit. This grade control drilling program has confirmed the expected grades (and the size) of the starter pit, which increases our confidence in the positive outcome of the Preliminary Economic Assessment.The drill p...Read More
* Dollar index down 0.23 pct* Dollar down more than 1 pct vs yen (Updates prices, market activity, adds comments)By Saqib Iqbal AhmedNEW YORK, Jan 10 (Reuters) - The U.S. dollar fell to a more than six-week low against the Japanese yen and weakened against a basket of major currencies on Wednesday after a report that China was ready to slow or halt its U.S. Treasury purchases.Officials reviewing C...Read More
CloseGain/LossGold $1317.40+$3.40Silver$16.98-$0.02XAU86.07+1.32%HUI194.29+1.04%GDM650.01+0.39%JSE Gold1313.06+26.39USD92.32-0.19Euro119.57+0.18Yen89.79+0.91Oil$63.57+$0.6110-Year2.552%+0.004T-Bond150.03125-0.1875Dow25369.13-0.07%Nasdaq7153.57-0.14%S&P2748.23-0.11% The Metals: Gold fell $5.50 to $1308.50 in early Asian trade before it jumped up to as high as $1327.10 at about 6AM EST and the...Read More
- Gold at all time in eight major emerging market currencies- A stronger performance than seen when priced in USD, EUR or GBP- As world steps away from US dollar hegemony expect new gold highs in $, EUR and ?- Gold is a hedge against currency debasement and depreciation of fiat currenciesEditor: Mark O'ByrneSource: allstarcharts.com h/t @DominicFrisbyWhen we talk about the gold price we all...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
The London Metal Exchange closed 2017 in positive fashion as average daily volume (ADV) climbed 19.3% after two previous months of decline. Lead was the strongest performer, with ADV climbing over 50% from December 2016 with 55,717 lots. Last month, lead was the only base metal to record a significant year-on-year increase. Copper's ADV was up 24.3% from the previous year to 150,723 lots, after it...Read More
Bears thought they had control of the gold markets onTuesday, taking the precious metal down over $10 before a late-day rally cutthose losses in half. In overnight trading, the bears were once again incontrol until 1:30 a.m. EST. Out of nowhere, the bulls showed up and goldrallied $18 from the lows, putting in a new three-month high. Once again, the bears got run over by the bulls on heavyvolume....Read More
After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
10-year yield drops from highs after auction, Nafta reportS&P 500 halts six-day rally, sees first loss of 2018Mark Hawtin, investment director at GAM, talks about the impact of inflation levels on bond and equity markets.U.S. stocks fell for the first time this year as shares that serve as bond proxies tumbled on speculation interest rates will continue to rise. Treasuries turned higher in la...Read More