- Hungarian National Bank (MNB) to repatriate 100,000 ounces gold from Bank of England- Follows trend of Netherlands, Germany, Austria and Belgium each looking to bring gold back to home soil- Hungary one of the smallest gold owners amongst central banks, with just 5 tonnes- Central bank gold purchases continue to be major drivers of gold market- Russian central bank gold reserves now exceed thos...Read More

Iron ore prices rebounded by close to $2 per tonne on Wednesday March 14 after demand picked up in the wake of prices falling below $70 per tonne cfr China a day earlier. Metal Bulletin's 62% Fe Iron Ore Index Today: $71.64 per tonne cfr Qingdao Daily change: up by $1.86 per tonne Month-to-date average: $74.13 per tonne Metal Bulletin's 58% Fe Premium Index Today: $57.56 per tonne cfr Qingdao Dail...Read More

Dear GATA and Mr. Chris Powell:I am writing this in response to your article "Monetary Metals' Weiner refuses to see anything wrong in the gold market".There is a certain irony for me to read that I refuse to see. I have spent eight years studying the mechanics of the market, building a model, developing software to run the model through several generations, and licensing nearly three terabytes...Read More

This article was originally written for Miles Franklin by Gary Christenson. Link is here.Serious problems affect Americans. Problems first, solutions at the end! We did what to ourselves? Our representatives, senators, and Presidents, supposedly acting on our behalf, voted for and created what history has shown are huge monetary and fiscal mistakes.Some will disagree, but consider this partial...Read More

The seaborne iron ore market appears to have regained some stability on Wednesday March 14 after a two-week decline, with a few big trading companies bottom-fishing for high-grade products after prices fell below $70 per tonne cfr China.Key drivers Sources at several major trading companies said they were looking to buy April-delivery cargoes of Pilbara Blend fines and lumps as well as a few for d...Read More

More than two weeks ago, we described the very specific and very important pattern in the gold market, one of short- and medium-term importance. We wrote that the triangle apex pattern based on the intraday highs, pointed to a major reversal in the first half of March. The first half of March ends this week, so the key question is if the pattern was invalidated or are we about to see a major rev...Read More

SHANGHAI, Mar 14 (SMM) – Prices of manganese ore in China are likely to remain rangebound with limited upward room in the short term due to a potential decline in the downstream consumption, SMM believes. This comes even as higher import costs drive up ore prices. As many steel mills in north China limited production to combat air pollution during the non-heating season, consumptio...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 to award champions and gold has been constantly and universally awarded as top prize...Read More

Iranian exporters of semi-finished steel products have continued to push for higher prices after successfully selling billet and slab volumes in recent weeks.Metal Bulletin's weekly price assessment for Iranian billet exports widened at both ends of the range to $515-530 per tonne fob on Wednesday March 14, against $518-520 per tonne fob a week earlier.The country's largest billet exporter, Khouze...Read More

China's domestic rebar prices were unchanged on Wednesday March 14, with high inventory levels offsetting the effects of a recovery in the futures market and a pick-up in trading activity.Domestic Eastern China (Shanghai): 3,790-3,850 yuan ($599-609) per tonne, unchangedNorthern China (Beijing): 3,900-3,930 yuan per tonne, unchangedRebar futures charted a recover in the last 30 minutes of the morn...Read More

Political developments in the USA will prevent the US dollar from sharp gains before the Federal Reserve meeting next week. Inflation meeting the Federal Reserve's target implies that a minimum of three interest rate hikes will be there. The fourth interest rate hike will be dependent on energy prices. Gold and silver are firm due to reduced chances of four interest rate hikes this year. Trump...Read More

Prices for hollow steel sections in Northern Europe have fallen by ?,?5 ($6) per tonne this week, with some mills accepting lower bids to secure orders, market participants told Metal Bulletin on Wednesday March 14.Meanwhile, Southern European prices widened upward by ?,?5 per tonne, with the large Italian mills being more successful in driving up their offer prices, sources said.Metal Bulletin's...Read More

Turkish pipe export prices have remained stable this month, despite sluggish demand especially in the Middle East region, sources said on Wednesday March 14.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $680-690 per tonne fob on March 14, unchanged month-on-month.Turkish pipe producers...Read More

UK long steel producer British Steel has won a contract to supply German railways operator Deutsche Bahn with 20,000 tonnes per year of rail, the company said on Wednesday March 14.In order to produce the 120-meter-long rail segments required by Deutsche Bahn, British Steel last year invested ?1 million ($1.39 million) to enhance its rail and sections mill in Scunthorpe, in eastern England.The tw...Read More

China's ferrous futures picked up on Wednesday March 14 amid the release of data from the National Bureau of Statistics (NBS) showing an increase in the country's crude steel output in January to February.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,736 yuan ($590.60) per tonne, up 46 yuan per tonne May hot-rolled coil: 3,855 yuan per tonne, up 52 yuan per tonne...Read More

China's crude steel output as well as its finished steel production increased during the first two months of 2018.The country produced a total of 136.82 million tonnes of crude steel over the January-February period, up 5.9% from a year earlier, the National Bureau of Statistics (NBS) said on Wednesday March 14. The bureau did not release separate statistics for either month.China's finished...Read More

RAPAPORT... Signet Jewelers has unveiled a three-year plan for returningthe company to growth, after sales slid last year.The retailer, whose brands include KayJewelers, Zales and Jared, aims to close more than 200 stores by February2019 and upgrade its e-commerce business in a bid to reverseits recent disappointing financial performance. It also plans to reduce costs and improve value for cu...Read More

RAPAPORT... Gem Diamonds returned to profit last year, after thedevaluation of an underperforming mine drove it to a loss in 2016. The miner recorded a net profit of $17.2 million for 2017,versus a loss of $144.1 million in 2016, it said Wednesday. The 2016 loss was mainlythe result of a $170.8 million impairment charge, after the company decided tocease production at the Ghaghoo mine in Botswana...Read More

(IDEX Online) - The World Federation of Diamond Bourses' (WFDB) Executive Committee Meeting in Idar-Oberstein on Monday discussed a wide variety of subjects.   The WFDB said they included the World Diamond Council's proposed changes to its System of Warranties (SoW), nomenclature issues, Know Your Client, the proposed inclusion of the International Diamond Manufacturers Association...Read More

JOHANNESBURG (miningweekly.com) - Diversified mining company Anglo American has outlined an innovative approach to three major areas of sustainability – the environment, community development, and driving greater trust and transparency across the mining industry.Its ambitious goals include:AdvertisementCreating five jobs off-site for every job on-site in its host communities;Working with gov...Read More