(Kitco News) - Gold and silver prices are sharply down and near their daily lows in early-afternoon U.S. trading Monday. Gold notched a nearly 1.5-year low and fell below key technical support at $1,200.00, while silver scored a two-year low. A surging U.S. dollar index and solidly lower crude oil prices were pressuring the precious metals. December gold futures were last down $17.10 an ounce at $...Read More
(Kitco News) - Fund managers hiked their record bearish positioning in gold futures during the latest reporting week for data compiled by the Commodity Futures Trading Commission.During the week-long period to Aug. 7 that was covered by the report, Comex December gold fell $15.30 to $1,218.30 an ounce, while September silver lost 18.6 cents to $15.373.Net long or short positioning in the CFTC data...Read More
(Kitco News) - First Majestic Silver Corp. (NYSE: AG; TSX: FR) Monday reported a loss in the second quarter despite record silver-equivalent output, with the company taking special charges for an impairment and acquisition of Primero Mining Corp.The net loss was $40 million, or 22 cents per share, compared to net earnings of $1.4 million, or a penny, in the second quarter of 2017.Due to a decision...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Sentiment in most of the global billet markets was negative in the week ended Friday August 10 amid unfavorable market conditions.Most of the buying markets in the Middle East, North Africa and Europe showed a lack of demand during the summer holiday season and weak trading in finished long steel segments.Meanwhile, Turkey was struggling with the slump of lira value amid aggravated political relat...Read More
Sentiment in most of the global billet markets was negative in the week ended Friday August 10 amid unfavorable market conditions.Most of the buying markets in the Middle East, North Africa and Europe showed a lack of demand during the summer holiday season and weak trading in finished long steel segments.Meanwhile, Turkey was struggling with the slump of lira value amid aggravated political relat...Read More
Base metals prices on the London Metal Exchange were lower across the board at the close of trading on Monday August 13, hindered by widespread risk aversion amid escalating trade tensions and a tumbling Turkish lira. ...Read More
South32 Ltd has completed the acquisition of Arizona Mining, building further on the Perth, Australia-headquartered zinc portfolio at a time of relatively limited greenfield mine supply. ...Read More
The Sukpo zinc smelter in South Korea, which has links to major producer Korea Zinc, has been closed and will remain so until September for environmental reasons, a company source told Metal Bulletin....Read More
Metal Bulletin's manganese ore indices lacked direction in the week ended Friday August 10 prior to September offers, while market participants queried whether fundamentals or traders taking positions had supported alloys on the Chinese spot market. ...Read More
Ample supply and weak demand continued to push ammonium paratungstate prices down in the week ended Friday August 10. ...Read More
Metal Bulletin's manganese ore indices lacked direction in the week ended Friday August 10 prior to September offers, while market participants queried whether fundamentals or traders taking positions had supported alloys on the Chinese spot market. ...Read More
South32 Ltd has completed the acquisition of Arizona Mining, building further on the Perth, Australia-headquartered zinc portfolio at a time of relatively limited greenfield mine supply. ...Read More
The Sukpo zinc smelter in South Korea, which has links to major producer Korea Zinc, has been closed and will remain so until September for environmental reasons, a company source told Metal Bulletin....Read More
China's silicon export market was stable in the week to Friday August 10 amid slow trading although Chinese market participants expect prices to rebound once buying activity picks up toward the end of August....Read More
Physical cobalt prices dropped again last week with opportunities to restock with competitively-priced cobalt units from China continuing to fuel aggressive selling in Europe. Metal Bulletin assessed low-grade and high-grade cobalt metal prices at $33.50-35.05 per lb, in-warehouse, on Friday August 10. Low-grade prices were at $33.85-35.15 per lb, in-warehouse, midweek, and high-grade st...Read More
The deep-sea scrap market remained quiet on Monday August 13, with the political crisis between the United States and Turkey sendng the Turkish lira even further down against the US dollar....Read More
The Turkish domestic scrap market has plunged with the latest downturn in the country's currency in the past week, sources said on Monday August 13. ...Read More
UK ferrous scrap prices for deliveries in August have dropped due to a combination of seasonally slower domestic demand and lower dock prices to destinations such as Turkey and the Indian subcontinent, trade sources told Metal Bulletin this week....Read More
Comex copper prices moved higher on Monday August 13 with geopolitical chaos in Turkey shaking up markets. ...Read More