(Kitco News) - Gold prices are ending the U.S. day session modestly up and were poised to close at a more-than-three-month-high close Thursday. Silver prices were ending near steady and hit a six-week high today. Some early profit-taking pressure was viewed as a bargain buying opportunity by the precious metals bulls. February Comex gold was last up $2.20 an ounce at $1,320.70. March Comex silver...Read More
(Kitco News) - Mining companies need to embrace “disruptive” technology to make the sector more compelling to younger investors and attract new capital, according to one mining executive.Luis Canepari, vice-president of technology at Goldcorp (NYSE: GG, TSX: G, said in a recent interview with Kitco News, that there are a lot of companies doing amazing things with technology that c...Read More
(Kitco News) - Gold prices have erased early losses to trade modestly up on the day, in late-morning action Thursday. Given the bullish technical posture of the gold market, at present, traders stepped in to buy the dip in prices, while reckoning there is more on the upside for the yellow metal in the near term. The outside markets are also in a bullish daily posture for the precious metals today,...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
(Kitco News) - Metals dropped sharply yesterday after the release of the FOMC meeting minutes for December. The perception that the Fed presented a hawkish perspective generated profit taking in the metals and reversed the recent dollar weakness. I read the minutes a little differently. It appears there is growing concern within the Fed of what the impact of aggressive rate increases will do to th...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
Wednesday the FOMC delivered minutes from the last Federal Reserve meeting. The minutes were about the same as usual -- a lot of words that said nothing or confirmed how clueless the Fed is. When the minutes were delivered at 2 p.m. EST, markets had a very muted reaction, but gold found itself under pressure. For 20 minutes, the sellers were back, and gold fell about $10. However, by the end of th...Read More
The latest news and price moves to start the Asian day on Thursday January 4.Base metal prices on the London Metal Exchange were mostly lower at the close on Wednesday January 3, with lead and tin the only metals to finish the day in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Wednesday.Glencore said it will add 100,000 tonnes o...Read More
Heavy Chinese investment in Indonesian nickel smelting and stainless steel production means that an increasing quantity of nickel ore mined in the country will be consumed internally from 2018 onwards.In spite of higher production in the coming year, Indonesian nickel pig iron (NPI) exports to China will fall in 2018 as around 180,000 tonnes of nickel metal will be consumed domestically on an ...Read More
The latest news and price moves to start the Asian day on Thursday January 4.Base metal prices on the London Metal Exchange were mostly lower at the close on Wednesday January 3, with lead and tin the only metals to finish the day in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Wednesday.Glencore said it will add 100,000 tonnes o...Read More
Base metals prices on the London Metal Exchange ended mostly higher on Thursday December 4, with only tin bucking the overall upward trend. The three-month nickel price gained more than $200 and copper ended $41.50 higher, albeit below $7,200 per tonne. "We remain positive on copper over the very short-term, expecting the rebound to continue at the start of the year. Our momentum-based indicators...Read More
Copper bulls may have set the metal's prices up for a fall in 2018 after a staggering December rally saw prices reach four-year highs, market analyst told Metal Bulletin. The London Metal Exchange's three-month copper price ended 2017 up 30.8% for the year having peaked at $7,312.5 per tonne on December 28. Concerns that up to 40% of global copper mine supply has the potential to be disrupted thro...Read More
Brazil's primary aluminium exports fell by 35% in 2017, reaching the lowest level on record as the two remaining local producers focused on the domestic market. Shipments totaled 210,201 tonnes in 2017 compared with 323,322 tonnes in 2016, according to figures from the country's foreign trade ministry, MDIC. This is the lowest annual aluminium export volume since 1989, the initial year on the mini...Read More
Concerns over supplies for the year ahead and a strong purchasing appetite from traders and mills continued to provide momentum to noble alloys prices in the first few days of January. Molybdic oxide prices staged the most impressive gains in the (usually quiet) first days of the year, jumping to $10.70-11 per lb, in-warehouse Rotterdam, on Wednesday January 3. Prices were assessed up 10.2% f...Read More
The Chinese vanadium market may turn to a deficit this year, underpinned by revised standards for the tensile strength of rebar products and a ban on vanadium slag imports, sources told Metal Bulletin.The new standard proposes eliminating 335MPa-tensile strength rebar and replacing it with 600MPa-tensile strength rebar that will have greater earthquake resistance, which will mean produce...Read More
Concerns over supplies for the year ahead and a strong purchasing appetite from traders and mills continued to provide momentum to noble alloys prices in the first few days of January. Molybdic oxide prices staged the most impressive gains in the (usually quiet) first days of the year, jumping to $10.70-11 per lb, in-warehouse Rotterdam, on Wednesday January 3. Prices were assessed up 10.2% f...Read More
Although Indonesia is set to see shipments of bauxite to China grow in 2018, years of absence from the market due to its export ban means its traditional role as primary supplier is unlikely to be regained any time soon. As of the end of October 2017, China had imported 562,924 tonnes of bauxite from Indonesia since July when the first shipment from PT Aneka Tambang (PT Antam) reached China in fou...Read More
Heavy Chinese investment in Indonesian nickel smelting and stainless steel production means that an increasing quantity of nickel ore mined in the country will be consumed internally from 2018 onwards.In spite of higher production in the coming year, Indonesian nickel pig iron (NPI) exports to China will fall in 2018 as around 180,000 tonnes of nickel metal will be consumed domestically on an ...Read More
Metal Bulletin proposes to amend its international cobalt price specifications as a result of changes in the market, and invitesfeedback on the following consultation.The deadline for Stage 1 feedback is Friday January 12. Click on the image above to download the full-sized PDF.Read More
Turkish deep-sea scrap trading remained silent again on Thursday January 4, as most suppliers were still out of the market due to heavy winter conditions and holiday outages.The country's steel mills were expected to try to book more cargoes for February, but the supply was tight and there were not many cargoes available in the market, Metal Bulletin was told."Scrap collection is slow due to heavy...Read More