An extremely robust U.S. equities markets along with dollar strength put slight pressure on gold pricing today. The roller coaster ride that defines the U.S. equities market continues to oscillate strongly with significant gains today immediately following yesterday's dynamic selloff. Yesterday the Dow Jones Industrial Average traded within a range of over 900 points. Trading to a high which was a...Read More
(Kitco News) - Optimism is high among delegates at the London Bullion Market Association’s 2018 precious metals conference, even as general investors continue to ignore the sector.In a conference poll, 682 attendees said that they see gold prices rising to $1,532 an ounce by the next conference in 2019. The outlook comes as gold prices struggled to hold on to last week’s three-month hi...Read More
BOSTON - (Kitco News) - While there is no clear consensus on where gold is going in the near term, the one thing most participants at the LBMA 2018 precious metals conference can agree on that nobody is paying much attention to the space. “Gold is almost absent in traditional asset management,” said David Seif, director and economist at Point72, in a panel discussion at the conference...Read More
BOSTON - (Kitco News) - The Nov. 6 mid-term elections could have a direct impact on the physical bullion market, according to the head of Perth Mint. Richard Hayes, CEO of Perth Mint Richard Hayes, CEO of the Australian mint, told Kitco News on the sidelines of the London Bullion Market Association’s 2018 precious metals conference that if Democrats regain control of Congress next week h...Read More
(Kitco News) - Gold prices are modestly down in early-afternoon U.S. trading Tuesday. A strongerU.S. dollar index that scored a new for-the-move high today is weighing on the precious metals markets. A rebound in the U.S. stock market so far today is also a negative element for the safe-haven gold and silver markets. December gold futures were last down $2.10 an ounce at $1,225.40. December Comex...Read More
BOSTON - (Kitco News) - Gold and palladium are the darlings of the precious-metals sector, but one analyst is paying more attention to dark horses silver and platinum.In an interview with Kitco News during the London Bullion Market Association annual conference, Johann Wiebe, lead precious metals analyst at GFMS, Refinitiv, formerly the Thomson Reuters Financial and Risk Unit, said that while gold...Read More
(Kitco News) - Gold may need further weakness in the equity market to retain its October rally, says TD Securities.The metal spent much of the summer “in the gutter” as bearish traders piled on short positions, the firm pointed out a research note late Monday. However, a sharp correction lower in equities this month convinced many of these shorts to buy in order to cover, or exit, posi...Read More
BOSTON -(Kitco News) - While gold investors have lamented the lackluster price action as a sign that nobody cares about the yellow metal, the world’s most liquid gold markets said that perception is the farthest thing from the truth. Young-Jin Chang, global head of metals at CME Group In an interview with Kitco News on the sidelines of the 2018 London Bullion Market Association annual P...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday October 29, with strong consumer spending figures from the United States fueling broad strength in the US dollar index and adding downward pressure on prices.In a report released by the US Commerce Department, consumer spending increased by 0.4% over October, however, this is the smallest gain in 15...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More
South Korean zinc smelter Young Poong is facing a 20-day shutdown at its Sukpu refined zinc smelter after a court rejected the company's appeal against a closure order.Situated in a national park, the Sukpu smelter is alleged to have discharged waste from the smelting process into the local river, which is used for drinking water by millions of people. Environmental groups and residents have been...Read More
Prices for manganese ore imported into China on an fob basis ticked upward in the pricing session that ended on Friday October 26, while trading activity started to pick up in China before the onset of winter. High- and low-grade manganese ore prices showed modest increases Manganese ore grade prices in China ticked upward Falling bids weigh on Indian silico-manganese prices US focuses on long-ter...Read More
Ammonium paratungstate (APT) prices remained supported, with a new round of environmental inspections expected to take supply out of the market. Environmental inspections team to return to Jiangxi, Hunan provinces; APT price supported Ferro-tungsten prices range-bound on weak demand, oversupply Concentrates prices unchanged awaiting clear market directionFastmarkets MB assessed the European APT pr...Read More
Prices for manganese ore imported into China on an fob basis ticked upward in the pricing session that ended on Friday October 26, while trading activity started to pick up in China before the onset of winter. High- and low-grade manganese ore prices showed modest increases Manganese ore grade prices in China ticked upward Falling bids weigh on Indian silico-manganese prices US focuses on long-ter...Read More
South Korean zinc smelter Young Poong is facing a 20-day shutdown at its Sukpu refined zinc smelter after a court rejected the company's appeal against a closure order.Situated in a national park, the Sukpu smelter is alleged to have discharged waste from the smelting process into the local river, which is used for drinking water by millions of people. Environmental groups and residents have been...Read More
Brazilian copper producer Paranapanema expects relatively stable copper prices and treatment and refining charges (TC/RCs) during the fourth quarter compared with the July-September period, chief executive officer Marcos Camara told Fastmarkets MB on Friday October 26. The company estimates the London Metal Exchange three-month copper price to range $6,000-6,500 per tonne until year-end. TC/RCs, t...Read More
Cobalt spot market prices for both high- and low-grade material increased week on week on Wednesday October 24 on bullish sentiment that was fueled by supply tightness in the United States, arising from sanctions on Chinese metal, Fastmarkets has heard.Although the cobalt spot market was unusually slow last week, due to industry conferences and the beginning of contract price negotiations, the dea...Read More
Global antimony continued to trade last week amid weak demand for the metal, with prices remaining unchanged in both China and Europe on scarce spot market activity.In China, Fastmarkets MB's price assessment for Chinese Minor Metals Trade Association (MMTA) standard grade-II antimony price, delivered, duty-paid, was 51,000-51,500 yuan ($7,341-7,412) per tonne on Wednesday October 24, unchang...Read More
Turkish steel producers have continued to book cargoes in the deep-sea scrap trade, with two more transactions coming to light, pushing prices up further on Monday October 29.These two deals were heard on Friday after the data submission deadline for the day.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising HMS 1&2 (80:20) at $335 per tonne, shredded at $340 per tonne and...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More