Producing and then trading metal used to be the purview of just a few, with the supply chain more typically separated into silos and companies making occasional forays into different areas. But as the line between producer and trader has become increasingly blurred, the differentiator between companies is becoming the services they provide. As Christophe Allain, group portfolio director for non-fe...Read More
Producing and then trading metal used to be the purview of just a few, with the supply chain more typically separated into silos and companies making occasional forays into different areas. But as the line between producer and trader has become increasingly blurred, the differentiator between companies is becoming the services they provide. As Christophe Allain, group portfolio director for non-fe...Read More
Producing and then trading metal used to be the purview of just a few, with the supply chain more typically separated into silos and companies making occasional forays into different areas. But as the line between producer and trader has become increasingly blurred, the differentiator between companies is becoming the services they provide. As Christophe Allain, group portfolio director for non-fe...Read More
With only hours before the United States and North Korea begin their summit in Singapore, gold prices have been holding steady and trading fractionally higher on the day. Of the three major events which are clustered this week, the first was the G7 meeting which was held in Québec over the weekend.Although the G7 meeting ended with friction between the United States and other member nations...Read More
(Kitco News) - Despite growing populism and protectionist policies emerging from several major countries, globalization is still alive and strong.In a panel discussion featuring prominent political and economic figures at the International Economic Forum of the Americas in Montreal, the topic of trade wars and their impact on global growth was debated, with the panelists concluding that globalizat...Read More
(Reuters) - U.S. and European stocks edged up on Monday as investors shook off the weekend’s chaotic G7 summit ahead of a week packed with diplomatic events, while a pair of U.S. Treasury Department auctions met with strong demand.Bullishness on the part of investors that the historic summit scheduled for Tuesday between U.S. President Donald Trump and North Korean leader Kim Jong Un will go...Read More
(Kitco News) - Texans can now store their gold right in their own home state, as local officials celebrate the opening of the Texas Bullion Depository — the country’s first state-administered precious metals depository.The official opening took place last week in Austin after several years of hard work of putting the plan together.State Rep. Giovanni Capriglione, R-Southlake, created t...Read More
NEW YORK (Reuters) - The U.S. dollar and euro on Monday were range-bound ahead of decisive meetings of both central banks this week and President Donald Trump’s summit with North Korean leader Kim Jong Un in Singapore on Tuesday.The greenback was up 0.14 percent against a basket of six currencies during Monday’s session, despite heightened worries about a global trade war following a s...Read More
(Kitco News) - Gold prices were slightly higher in early-afternoon U.S. trading Monday. The safe-haven yellow metal saw some position evening today, ahead of important marketplace events taking place in the coming days. Silver futures hit a six-week high today, are within a whisker of hitting the key $17.00 level, as the bulls have technical momentum on their side. August Comex gold futures were l...Read More
NEW YORK, June 11 (Reuters) - U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey published on Monday.The survey of consumer expectations, which the Fed considers along with other data on U.S. price pressures, remained at a median of 2.98 percent fo...Read More
(Kitco News) - Large speculators cut their net bullish positioning in gold futures but upped their bullish stance in silver during the most recent reporting week for data compiled by the Commodity Futures Trading Commission.The price action reflected those changes in positioning. During the week-long period to June 4 that was covered by the report, Comex August gold slipped $6.80 to $1,304.10 an o...Read More
South Africa’s Association of Mineworkers and Construction Union says it will demand a higher minimum monthly wage of ZAR12,500 (USD$953) in their upcoming negotiations with the country’s gold producers. “This is significantly higher than the ZAR10,500 per month demanded by the larger National Union of Mineworkers, and the ZAR7,700 per month currently seen as the industry norm,&r...Read More
Price movement in gold could pick up once this week’s two-day meeting of the U.S. Federal Open Market Committee is over, says INTL FCStone. Policymakers are expected to hike interest rates again on Wednesday, but investors will be watching Fed commentary for clues on how aggressive tightening will be in the future. Gold has been range-bound lately. “One market that has yet to move for...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
SHANGHAI, Jun 11 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index fell 0.7% over the past week to close at 93.5 last Friday. Expectations of interest rate hikes grew while the euro remains under pressure amid Italian political turmoil and the eurozone’s trade disputes with the US.SHFE metals fell last Friday...Read More
SHANGHAI, Jun 11 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index fell 0.7% over the past week to close at 93.5 last Friday. Expectations of interest rate hikes grew while the euro remains under pressure amid Italian political turmoil and the eurozone’s trade disputes with the US.SHFE metals fell last Friday...Read More
SHANGHAI, Jun 11 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index fell 0.7% over the past week to close at 93.5 last Friday. Expectations of interest rate hikes grew while the euro remains under pressure amid Italian political turmoil and the eurozone’s trade disputes with the US.SHFE metals fell last Friday...Read More
Steel billet prices in the global markets showed mixed dynamics in the week from Monday June 4 to Friday June 8, due to weak trading activity in Asia and strengthening sentiment in Turkey and the CIS region.Iran was effectively out of the market because of the threatened reinstatement of US trading sanctions, after the Western country withdrew from the international deal on Iran's nuclear-power am...Read More
Steel billet prices in the global markets showed mixed dynamics in the week from Monday June 4 to Friday June 8, due to weak trading activity in Asia and strengthening sentiment in Turkey and the CIS region.Iran was effectively out of the market because of the threatened reinstatement of US trading sanctions, after the Western country withdrew from the international deal on Iran's nuclear-power am...Read More
Base metals on the London Metal Exchange closed mostly lower at the end of trading on Monday June 11, with copper, nickel and tin prices recording losses while lead and aluminium made marginal gains. Falling 0.7% over the afternoon, copper's three-month price has dipped from the five-year highs that pushed its price up to $7,300 per tonne last week. Uncertainty over labor negotiations at BHP...Read More