(Kitco News) - As gold prices trade close to four-month highs, analysts from the Bank of China International said that commodities like gold have room to go even higher in 2018.By the fourth quarter of this year, gold could be looking at an average of $1,400 per ounce and copper at $7,500 a ton, analysts, led by Xiao Fu, the commercial bank’s head of commodity market strategy, said in a note...Read More
Polyus is underperforming despite strong cost dynamics.Significance of Fosun deal is not enough to outperform the stock market.Favorable outlook is imminent with attractive dividends and diverse range of growth projects. Image source: TRUST.UA Investment Thesis Polyus Gold International Limited (LON:PGIL) delivers stable earnings due to higher production, despite wobbly trends in the Russian curr...Read More
Gold is trading moderately higher today, with the most active futures contract currently trading up $3.70 (+0.28%) at $1323 per ounce. Today’s gains have taken gold to its highest value so far in 2018. On Friday of last week, gold prices reached the former 2018 apex when it closed at $1322 per ounce. Although gold prices surged to an intraday high of $1327 on Thursday of last week, on a clos...Read More
Summary of 2017 in the gold market from the perspective of its fundamentals.Main drivers of the gold prices.Investment conclusions for 2018.So another year has passed. How quickly it happened! But we hope that you did not get bored, and instead took time to learn more about the fascinating gold market. At first glance, 2017 seems to have been a dull period for the yellow metal, as it was traded wi...Read More
(Kitco News) - Gold is up 6% since the Fed raised rates last month, despite net outflows in North American-based gold-backed exchange traded funds, but one trader said that not all investors are fleeing from the yellow metal.In an interview with Kitco News, Vince Lanci, founder of Echobay Partners, said that he is shrugging off the impact of recent outflows in SPDR Gold Shares, the world’s b...Read More
SHANGHAI, Jan 11 (SMM) – Nonferrous metals traded up for the most part today with SHFE aluminium leading the gains with 1.2% rise and nickel up 1%. Copper and zinc also edged up slightly while SHFE lead was down 0.56%.The ferrous complex saw coking coal finish higher by 0.73% while rebar and hot-rolled coil also registered rises. Coke dropped 0.49% and iron ore slipped 0.36%.Copper: SHFE cop...Read More
SHANGHAI, Jan 11 (SMM) – Nonferrous metals traded up for the most part today with SHFE aluminium leading the gains with 1.2% rise and nickel up 1%. Copper and zinc also edged up slightly while SHFE lead was down 0.56%.The ferrous complex saw coking coal finish higher by 0.73% while rebar and hot-rolled coil also registered rises. Coke dropped 0.49% and iron ore slipped 0.36%.Copper: SHFE cop...Read More
(Kitco News) - Gold prices ended the U.S. day session moderately higher Thursday. The precious metal was lifted by a lower U.S. dollar index and by higher crude oil prices that hit a three-year high today. Some technical buying is also featured in gold, as the near-term chart posture is getting more bullish. February Comex gold was last up $3.80 an ounce at $1,323.00. March Comex silver was last d...Read More
SHANGHAI, Jan 11 (SMM) – Nonferrous metals traded up for the most part today with SHFE aluminium leading the gains with 1.2% rise and nickel up 1%. Copper and zinc also edged up slightly while SHFE lead was down 0.56%.The ferrous complex saw coking coal finish higher by 0.73% while rebar and hot-rolled coil also registered rises. Coke dropped 0.49% and iron ore slipped 0.36%.Copper: SHFE cop...Read More
SHANGHAI, Jan 11 (SMM)? 1/4 ? The decline in nickel ore shipments to China from the Philippines was mainly due to bad weather in Tawi-Tawi while the impact of environmental protection issues in Zambales was rather small.News reports suggested that four nickel ore miners in Zambales were involved in local environmental disputes and shipments from the region have been affected. The four companies we...Read More
About a year ago, metallurgical coal embarked on a long journey of great volatility and disruption. It emerged as the best performing commodity in 2016 after several years of declining prices. Prices have dropped and spiked several times since then and the volatility continued in 2017 with a cyclone disrupting the market and eventually also affecting the way the commodity is priced. Although therm...Read More
Equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST.Consensus for Weekly Jobless Claims was a drop to 245,000 from 250,000 last week. Actual was 261,000. Consensus for December Producer Prices was an increase of 0.2% versus a gain of 0.4% in November. Actua...Read More
SHANGHAI, Jan 11 (SMM)? 1/4 ? Trading in China’s physical imported copper market is likely to stay thin until Chinese New Year with spot premiums under pressure, SMM believes.SMM’s Yangshan copper premium with warehouse warrant dropped to $75.5/mt on Thursday January 11, lowest level since late October last year. This is mainly due to weaker import demand and the close of arbitrage win...Read More
(Kitco News) - Following are six elements working in favor of the gold market bulls and that should continue to support upward price movement in the precious metal. Rising Government Bond Yields. A feature in the marketplace this week is rising world government bond yields (falling prices). This helped to hold back gains in global stock markets. Bloomberg news published a story Wednesday about the...Read More
SHANGHAI, Jan 11 (SMM)? 1/4 ?Copper: LME copper sees support at $7,100/mt and is expected to trade at $7,100-7,200/mt today, while the SHFE 1803 copper is expected to trade at 54,600-55,500 yuan/mt. Spot premiums are set to be stable today at flat to 50 yuan/mt with the approaching futures delivery.Zinc: LME zinc remained firm with low inventory. We expect it to trade between the five-day and 10-d...Read More
The past year, soaring metallurgical coal prices have greatly affected the costs involved in producing pig iron, a form of crude iron which is the product of the blast furnace. Metal Bulletin Research's Global Steel Cost Service details how coking coal and coke costs usually averaged around 35% of total pig iron production expenditure in 2014 and 2015 while iron ore stood for the majority of costs...Read More
SHANGHAI, Jan 11 (SMM)? 1/4 ?Copper: LME copper sees support at $7,100/mt and is expected to trade at $7,100-7,200/mt today, while the SHFE 1803 copper is expected to trade at 54,600-55,500 yuan/mt. Spot premiums are set to be stable today at flat to 50 yuan/mt with the approaching futures delivery.Zinc: LME zinc remained firm with low inventory. We expect it to trade between the five-day and 10-d...Read More
NAFTA jitters at 2:00 PM EST StockTwits Released Yesterday @EquityClockTechnical action by S&P 500 stocks to 10:00: Bearish. Breakouts: $ZION $ISRG. Breakdowns: $ADM $COST $KMB $SLG $PSA $XRAY $CCI $AEE $CMS $ETR.Editor's Note: After 10:00 AM EST, breakouts included FITB, FIS, MS, BHF, UNM, PBCT, IPG, SBUX. Breakdowns included DLR, AIZ, AMT, MHK and INTCRegional Bank ETF $KRE moved above...Read More
SHANGHAI, Jan 11 (SMM)? 1/4 ?Copper: LME copper sees support at $7,100/mt and is expected to trade at $7,100-7,200/mt today, while the SHFE 1803 copper is expected to trade at 54,600-55,500 yuan/mt. Spot premiums are set to be stable today at flat to 50 yuan/mt with the approaching futures delivery.Zinc: LME zinc remained firm with low inventory. We expect it to trade between the five-day and 10-d...Read More
WASHINGTON, Jan 11 (Reuters) - The U.S. Commerce Department said on Thursday it had completed its probe into whether imports of certain steel products threatened U.S. national security and sent its conclusions to President Donald Trump.In a statement that offered no indication of the investigation's findings, the Commerce Department said Trump now has 90 days to decide "on any potential acti...Read More