(Kitco News) - Wall Street and Main Street alike are nearly evenly split on whether gold pricess have bottomed and will rise in the next week, based on the weekly Kitco News gold survey.Seventeen market professionals took part in the Wall Street survey. Seven respondents, or 41%, called for higher prices, while six, or 35%, said lower. Four respondents, or 25%, predicted a sideways market.Meanwhil...Read More
On July 19th, while gold was selling down toward the $1200 region, President Trump publicly criticized the Federal Reserve’s current policy to continue raising interest rates. Gold immediately rose $10, while the over-bought U.S. dollar made an intra-day reversal from its highest point reached since a strong move higher began in mid-April. Trump’s remarks, in an interview with CNBC, we...Read More
Standard Chartered says gold may ease some more in the near term during a “seasonal lull” but then rise in September. Factors that could push gold down some more in the near term include a seasonally slow period for physical demand, bearish investment sentiment as reflected by recent interest in shorting SPDR Gold Shares, and an estimated 200 tonnes of ETF positions that are now in the...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
(Kitco News) - Gold is struggling to hold on to the support line around $1,220. Yesterday the ECB indicated that stimulus measures would remain in place through at least mid-2019. With the U.S. 10-year bond flirting with the 3% yield level, traders bought the dollar, which created selling in the metals complex. Today's second-quarter U.S. GDP numbers will be in focus. The market expects a robust n...Read More
Gold appears to be experiencing Groundhog Day every day. Like the movie with Bill Murray, gold seems to be repeating the same action day after day. Sellers meet every rally, and even when the rally appears strong, the sellers are ready. Many are still calling the bottom in gold, which only indicates that there is room to the downside. The groundhog may or may not see his shadow but as it looks now...Read More
The latest news and price moves to start the Asian day on Friday July 27.Base metals prices on the London Metal Exchange were marginally higher at the close of trading on Thursday July 26, bolstered by an easing in trade tensions after the United States and European Union agreed to negotiate tariffs on industrial goods. Read more in our live futures report.Here are how prices looked at the cl...Read More
The latest news and price moves to start the Asian day on Friday July 27.Base metals prices on the London Metal Exchange were marginally higher at the close of trading on Thursday July 26, bolstered by an easing in trade tensions after the United States and European Union agreed to negotiate tariffs on industrial goods. Read more in our live futures report.Here are how prices looked at the cl...Read More
Base metals on the London Metal Exchange ended the week mostly higher by the close of trading on Friday July 27, propped up by a marginal dip in the US dollar index while broad LME inventory drawdowns push prices higher. ...Read More
Comex copper prices ticked higher in the final session of the week on Friday July 27 morning in the US, amid a softer dollar and easing trade concerns....Read More
Teck Resources has sold formerly prohibited zinc concentrates from its Red Dog mine into China, a move that could lead to a more liquid global spot market for the commodity....Read More
Key data from the pricing session ending July 27....Read More
Domestic spot prices for battery-grade lithium carbonate in China have gone down week-on-week, with most producers lowering their prices to secure sales amid persistently low demand....Read More
Teck Resources has sold formerly prohibited zinc concentrates from its Red Dog mine into China, a move that could lead to a more liquid global spot market for the commodity....Read More
Aluminium Corporation of China's (Chinalco) massive Ningde copper smelter will commence output as early as mid-August, Metal Bulletin has learned....Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
Key data from the pricing sessions in London and Shanghai on Friday July 27. ...Read More
UK and European alloy steel scrap prices have been largely unchanged over the past week because of the seasonally slow market, sources told Metal Bulletin on Friday July 27....Read More
The UK light iron scrap market edged down this week following the same negative market sentiment from last week, after continued weakness in the Turkish market, sources told Metal Bulletin....Read More
Global scrap prices softened in several markets in the working week from Monday July 23 to Friday July 27, often because of weak demand in the downstream long steel segments in Taiwan and Turkey.Exporters in the United States saw prices dip when their customers in Taiwan and Turkey continued to bid lower prices for their material.And the discovery of a volume of cocaine by Vietnamese authorities a...Read More