(Kitco News) - Copper prices tumbled on the news that the world’s largest copper mine might be saved from another strike, keeping investors focused on the supply/demand part of the market.The price of copper plunged to the lowest level since May, with the September N.Y. copper last trading at 257 cents, down 4.01% on the day. There were reports early Wednesday about a proposal being pre...Read More
(Kitco News) - Gold , silver, platinum and palladium prices were hammered lower Tuesday by a surging U.S. dollar on the foreign exchange market. Gold scored a nearly 1.5-year low, silver a two-year low, platinum a 14-year low and palladium a 13-month low. The U.S. dollar index hit a 14-month high today on worries about a global currency market crisis developing. December gold futures were last dow...Read More
(Kitco News) - The platinum and palladium markets are also feeling the bearish effects of a strong U.S. dollar and the prospects of a world trade war diminishing demand for both metals. Platinum futures dropped to a 14-year low today, while palladium futures hit a 13-month low.The longer-term weekly charts for both metals are in bearish technical postures. The next major downside target for platin...Read More
Roxgold Inc. (TSX: ROXG) reports a higher profit and output in the second quarter. Net income totaled $10.8 million, or 3 cents a share, up from $5.7 million, or 2 cents, in the comparable period a year ago. Roxgold reports production of 35,828 ounces of gold, up from 27,970 a year ago. “Operations at Yaramoko continued to deliver strong production and cash-flow results in the second quarter...Read More
(Kitco News) - Gold prices are still finding a bottom as better-than-expected retail sales pushed the yellow metal further down. U.S. retail sales rose 0.5% in July following a downwardly revised advance of 0.2% in June, according to the latest data from the U.S. Commerce Department. Economists were expecting to see an increase of 0.2% in last month’s headline number. In an immediate reactio...Read More
(Kitco News) - The hedge fund Paulson & Co., overseen by well-known hedge fund manager John Paulson, stayed the course on its position in the world's largest gold exchange-traded fund during the second quarter even though the price of the precious metal fell, filings show.Meanwhile, Soros Fund Management LLC has remained out of gold since exiting from its shares of Barrick Gold Corp....Read More
Overnight gold went through the $1,200 level like a hot knife through butter. The day has changed but the story remains the same -- there are no buyers for gold at the moment. The sellers are in total control. At 5 a.m. EDT, gold traded down to $1,191.80 on heavy overnight volume, which could signify we are close to the end of this move down. As we have written almost every day, we are waiting for...Read More
The latest news and price moves to start the Asian day on Wednesday August 15.The latest news and price moves to start the Asian day on Wednesday August 15.Base metals prices on the London Metal Exchange were broadly lower at the close of trading on Tuesday August 14, under pressure from a continued surge in the US dollar index while a tendency toward risk-aversion continued to work its way throug...Read More
The latest news and price moves to start the Asian day on Wednesday August 15.The latest news and price moves to start the Asian day on Wednesday August 15.Base metals prices on the London Metal Exchange were broadly lower at the close of trading on Tuesday August 14, under pressure from a continued surge in the US dollar index while a tendency toward risk-aversion continued to work its way throug...Read More
The price of base metals on the London Metal Exchange plummeted at the close of trading on Tuesday August 15, largely affected by sharp risk-off sentiment amid volatile currency flows.Falling furthest, zinc prices have dipped more than 6%, closing at their lowest point since October 2016 and down more than 30% since the start of the year, when prices were at $3,316 per tonne on January 2.Volumes t...Read More
Nickel premiums in China trend higher on a wide London Metal Exchange contango, while the European nickel premium eased slightly on weak fundamentals and US premiums were unchanged....Read More
Comex copper prices hit a fresh low during midweek trading on August 15 morning in the US, amid a general exit from the commodities sector due to a rising dollar and fears of a contagion from the Turkey crisis....Read More
Spot port manganese ore prices in China recovered last week due to positive market sentiment, further supported by spikes in ferro-alloys futures prices.Metal Bulletin's 37% manganese ore index cif Tianjin, rose by 0.6% week on week to $6.39 per dry metric tonne unit on Friday August 10. The index had been steadily falling over the previous three weeks from a July peak of $6.86 per dmtu on July 13...Read More
Key data from the Wednesday August 15 pricing session in London....Read More
Key data from the Wednesday August 15 pricing session in London....Read More
The Turkish steel mills continued to hold back from the deep-sea scrap markets on Wednesday August 15 while the crisis between Turkey and United States escalates, with Turkey doubling import tariffs imposed on material from the larger country....Read More
Comex copper prices hit a fresh low during midweek trading on August 15 morning in the US, amid a general exit from the commodities sector due to a rising dollar and fears of a contagion from the Turkey crisis....Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been unchanged over the past week, but they are expected to move up when market activity recovers from the seasonal slowdown, sources told Metal Bulletin on Wednesday August 15....Read More
China's ferrous futures remained subdued during morning trading on Wednesday August 15, with the coking coal and coke contracts bucking a general downward trend....Read More
The crisis between the United States and Turkey has had its most marked effects on the long steel market in the Middle Eastern country, where deals are made in Turkish lira....Read More