Week in review: Down last week... ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon a...Read More
Lead prices drop back into...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it&...Read More
Smaller deficit reported for August feels more realistic...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download t...Read More
Week in review The LME 3M...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it&#...Read More
U.S. equity index futures were lower this morning. S&P 500 Index dropped 38 points in pre-opening trade. Futures responded to a fall in European and Asian equity indices.United Technologies dropped $0.50 to $125.90 despite after reporting higher than consensus third quarter sales and earnings. The company also raised guidance.MMM fell $13.36 to $188.00 after reporting lower than consensus thir...Read More
Slowing momentum in China remains a...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as so...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
The most prominent characteristic of gold pricing has been its narrow and tightly defined trading range. On October 11, gold gained over $30 in trading, breaking above key levels of resistance. These resistance levels began at $1,200, a key psychological level, the 50-day moving average which was at $1,204, and finally the 0.618% retracement level at $1,217.60. From there, gold prices began to tra...Read More
(Kitco News) - Interest in gold as a portfolio hedge is coming back this fall, with Bank of America Merrill Lynch (BAML) strategists projecting to see another short-covering rally in the near future.BAML’s positive gold outlook is based on extreme short positioning in gold futures, weaker U.S. dollar forecasts, and investors’ increased demand for a portfolio hedge, the bank’s str...Read More
(Kitco News) - Although gold is one of the top traded assets in the world when compared to other markets like U.S. bonds or foreign exchange, it is hugely inefficient, but one fund manager thinks this is going to change. Peter Grosskopf, CEO of Sprott More than a decade ago exchange-traded products revolutionized the gold market, and the yellow metal is on the cusp of a new digital revolution,...Read More
(Kitco News) - Gold prices are moderately lower in early-afternoon U.S. trading Monday, pressured by a return of trader and investor risk appetite to the world marketplace to start the trading week—despite some potentially disruptive elements that still loom over the stock and financial markets. A stronger U.S. dollar index on this day also worked against the precious metals markets. Decembe...Read More
Image: freemind-production/Shutterstock.com (Kitco News) - Sotheby’s gold auction that featured a gold Ferrari and a gold Kate Moss sculpture among other items collected a total of $3.9 million in sales.The first ever gold auction, titled ‘The Midas Touch,’ was organized due to rising demand for the precious metal, according to Sotheby’s. The exclusive event was held O...Read More
(Kitco News) - Gold prices are holding moderate losses and have slightly extended overnight declines, as midday approaches. The U.S. dollar index has moved to its daily high, which has added some downside pressure on the gold and silver markets.However, losses in gold are being somewhat limited by ongoing concerns about the health of the U.S. stock market following recent selling pressure that did...Read More
(Kitco News) - Large speculators cut their net-bearish positioning by more than half during the most recent reporting week for data compiled by the Commodity Futures Trading Commission.During the week-long period to Oct. 16 covered by the data, Comex December gold rose by $39.50 to $1,231 an ounce, while December silver climbed 30.1 cents to $14.701.BMO Capital Markets said gold prices rallied on...Read More
Spot gold remains above chart support that starts around $1,220 an ounce, says MKS (Switzerland) S.A. “Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near term,” MKS says. “Supportive price action around $1,210-$1,220 should restrict declines amid current global polit...Read More
Steel billet prices in major global markets resumed their downtrend or remained stable during the week from Monday October 15 to Friday October 19, with few deals concluded and importers generally staying out of the market.China was the exception, with its domestic prices strengthening amid lower inventory levels within the country.AsiaImport prices for steel billet in Southeast Asia were flat dur...Read More
Steel billet prices in major global markets resumed their downtrend or remained stable during the week from Monday October 15 to Friday October 19, with few deals concluded and importers generally staying out of the market.China was the exception, with its domestic prices strengthening amid lower inventory levels within the country.AsiaImport prices for steel billet in Southeast Asia were flat dur...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Futures are responding to a 4.09% increase in the Shanghai Composite Index last night.The Canadian Dollar was virtually unchanged at U.S.76.35 cents following release of August Canadian Wholesale Sales at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 1.5% in July. Actua...Read More
China's ferrous futures ended the morning trading session lower on Friday October 19, with the rebar and coke contracts experiencing the steepest drops.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,093 yuan ($590) per tonne, down 30 yuan per tonneJanuary hot rolled coil: 3,865 yuan per tonne, down 2 yuan per tonneDalian Commodity Exchange January iron ore: 516...Read More