(Kitco News) - Australian scientists are proposing to launch a satellite that would be able to look 300?km (186 miles) beneath the Earth’s surface, unlocking “Australia’s hidden mineral wealth,” according to the Australian Academy of Science's National Committee for Earth Sciences.This kind of “downward-looking telescope” would completely change the exploration...Read More
(Kitco News) - Gold prices are slightly up and not far below Monday’s 10-week high in early-afternoon U.S. trading Tuesday. The gold bulls are impressed their metal is able to hold gains amid a solid rally in the U.S. stock market today. December gold futures were last up $1.80 an ounce at $1,232.50. December Comex silver was last down $0.007 at $14.72 an ounce.The near-term technical postu...Read More
Gold is “back in fashion,” says Lukman Otunuga, research analyst at FXTM. Spot metal hit a three-month high of $1,has been as high as $1,232.70 an ounce Monday and remains near that level, hovering just under $1,230 in early-Tuesday trading. “A combination of factors ranging from depressed equity markets, trade disputes, global growth fears and geopolitical tensions have brought...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
Alio Gold Inc. (TSX, NYSE American: ALO) has agreed to sell non-core assets in Nevada to Coeur Rochester, Inc., a subsidiary of Coeur Mining, Inc., for $19 million payable in shares of Coeur common stock. The assets being sold include the Lincoln Hill project, Wilco project, Gold Ridge property and other nearby claims. Alio also says it reduced its outstanding debt with Macquarie Bank Ltd. fr...Read More
(Kitco News) - Gold continues to garner bids as macro fundamentals continue to favor the upside risk. Uncertainties surrounding global trade, the Italian budget, Brexit and the upcoming mid-term elections in the U.S. have the global financial markets on edge. Although the equity market has somewhat stabilized, we are still over 1,000 points away from last week's high. The market remains net short...Read More
The metals continue to hold their ground at higher levels; gold managed to hold $1,230 and silver $14.65. All signs point to higher prices, with both metals approaching key decision points once again. The numbers to watch are $1,240 for gold and $14.80 for silver. A break above will be considered another breakout and more than likely lead to a continuation of this rally while building strength und...Read More
The prices of base metals on the London Metal Exchange were mostly lower day-on-day at the close of trading on Monday October 15, with a softer US dollar having little effect on prices but trade tensions and weak stock markets keeping investors cautious.The three-month lead price rose by 1.6% over the afternoon to reach an intraday high of $2,116 per tonne, its highest level since September 4.Whil...Read More
The biggest question facing miners when planning for trade cycles is how flows will be redirected or constrained as a result of discussions between China and the United States, according to the president of marketing and supply at BHP. Arnoud Balhuizen said that BHP's commodities have been flowing as they always have, and the impact on prices has been relatively muted on a historical basis. How th...Read More
Comex copper prices rose to a multi-week high in morning trading on Monday October 15 amid a weaker dollar and optimism from LME Week in London last week. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 3.00 cents to $2.83 per lb - the highest since October 4. While the rest of the complex...Read More
The European market for standard-grade ferro-silicon was unchanged for the third consecutive week on Friday October 12, with suppliers in talks about selling alloy within the present spot price range, while Chinese prices were beginning to slide on slow demand. European market solidifies price position Outlook slow, but stable for the near term Chinese market starts to slip on lackluster demand US...Read More
The need for investment in new lithium projects creates a need for risk management tools, but the market's immaturity creates challenges, according to panelists at an LME focus session during this year's annual LME Week. Increasing demand for lithium compounds arising out of the electric vehicle and battery boom has created an appetite to bring new projects on stream, but there are risks associate...Read More
The fate of the Tuticorin copper smelter in the southern Indian state of Tamil Nadu will be decided at the end of November because more time is required to investigate the allegedly polluting project, local media reported on Monday October 15.The Times of India reported that a panel formed by the National Green Tribunal, India's environmental safeguarding body, wanted to listen to more views from...Read More
The European market for standard-grade ferro-silicon was unchanged for the third consecutive week on Friday October 12, with suppliers in talks about selling alloy within the present spot price range, while Chinese prices were beginning to slide on slow demand. European market solidifies price position Outlook slow, but stable for the near term Chinese market starts to slip on lackluster demand US...Read More
Bismuth prices were under pressure in Europe in the week ended Friday October 12, with prices reaching their lowest level so far this year on surplus production and weak demand. Fastmarkets MB assessed the European bismuth price at $3.90-4.40 per lb on Friday October 12, down by $1.20 on the low end of the range from Wednesday's assessment. Abundant supply and a lack of sufficient demand to a...Read More
The Chinese silicon export price moved up following a series of domestic ex-works deals since mid-September, while in the US the price fell for the seventh consecutive month.The Chinese grade 553 silicon export price was assessed at $1,660-1,730 per tonne on Friday October 12, up 0.6% from $1,650-1,720 per tonne previously. Domestic Chinese ex-works prices have been rising since mid-September, whi...Read More
The Turkish deep-sea scrap market was silent on Monday October 15, with market participants waiting to see if an improved Turkish lira will help boost prices.The Turkish lira has picked up since the country freed the American evangelical pastor Andrew Brunson on Friday afternoon, whose detention over his alleged links to proscribed political groups resulted in political tension with the United Sta...Read More
Turkish domestic scrap prices have fallen over the past week because the country's lira has started to regain some of its former value, sources said on Monday October 15.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,850-2,040 ($315-347) per tonne delivered on Monday, compared with last week's TRY1,900-2,040 per tonne.The rise in the assessment came after s...Read More
Comex copper prices rose to a multi-week high in morning trading on Monday October 15 amid a weaker dollar and optimism from LME Week in London last week. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 3.00 cents to $2.83 per lb - the highest since October 4. While the rest of the complex...Read More
First Cobalt Corp is in discussions with various feedstock suppliers and potential offtake parties who could finance an eventual restart of its cobalt refining facility in Ontario, Canada. The base case scenario would see the refinery resume operations at 24 tonnes per day, the company said, with production of cobalt sulfate for the lithium-ion battery market or cobalt metal for the US aerospace i...Read More