(Kitco News) - Gold prices are modestly higher in early-afternoon U.S. trading Thursday. A sharply lower U.S. dollar index that dropped to a 2.5-month low today only gave mild support to the precious metals markets. Risk-on trader and investor attitudes in the world marketplace, as evidenced by record highs scored in the major U.S. stock indexes today, continue to squelch buyers of the safe-haven...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. Create your own user feedback survey 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 mar...Read More
(Kitco News) - BMO Capital Markets looks for gold to rebound whenever the Federal Reserve pauses in its rate-hiking cycle, particularly with moves in the currency market looking extended, the bank said Thursday.Meanwhile, palladium is seen outperforming its sister metal platinum in the foreseeable future, but BMO sees platinum eventually regaining its premium over palladium in the long term.The ba...Read More
(Kitco News) - New technology, new players and new ideas are helping revitalize Idaho’s mining sector more than 150 years after gold was first discovered and led to the creation of the state.While Idaho has always been one of the top mining jurisdictions in the U.S. and the world, the region has recently toiled in obscurity; it has been nearly two decades since gold was produced in the area....Read More
(Kitco News) - Palladium futures on Thursday scored an eight-month high of $1,053.40, as of this writing at mid-morning. The palladium bulls have the solid near-term technical advantage to suggest still more gains in the near term, including a likely challenge soon of the all-time high of $1,111.15 scored in January of this year. Fundamentally, reports say the sharp gains in palladium recently are...Read More
(Kitco News) - Equinox Gold Corp. (TSXV: EQX) has entered into an agreement to acquire the Mesquite Gold Mine in California from New Gold Inc. (TSX, NYSE American: NGD) for $158 million, the companies reported. Equinox said the acquisition immediately establishes the developing company as a gold producer and accelerates growth. New Gold said the deal allows it to focus on core assets and “cr...Read More
(Kitco News) - The gold market is holding on to modest gains, just down from session highs following data that shows strong momentum in the manufacturing sector within the Philadelphia region.Thursday, the Philadelphia Federal Reserve reported that the after news that the current general activity index in its manufacturing business outlook survey rose to 22.9 in September, up from 11.9 in August...Read More
(Kitco News) - Gold prices are modestly higher in early U.S. trading Thursday. A sharply lower U.S. dollar index that dropped to a 2.5-month low this morning is only giving mild support to the precious metals markets. Risk-on trader and investor attitudes in the world marketplace continue to squelch buyers of the safe-haven metals. December gold futures were last up $2.20 an ounce at $1,210.50. De...Read More
The gold-silver ratio has exploded to one of the widest margins in history, with gold trading almost 85 times the price of silver. The ratio set by law is supposed to be 15-to-1; how did we get to 85-to-1? This is the highest level since the 2007-2008 global financial crisis. To some degree, having such an extensive history on how the prices of gold and silver relate to one another can be useful f...Read More
Swiss gold exports picked up in August, says Commerzbank. Analysts cite data from the Swiss Federal Customs Administration data showing that gold shipments rose 30% month-on-month to a 14-month high of 150.5 tonnes. “Significantly more gold was shipped to China and India in particular, which points to reviving demand in these two leading gold-consumer countries,” Commerzbank says. Swis...Read More
The latest news and price moves to start the Asian day on Thursday September 20.Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer. Read more in our live futures report.Here are how prices looked at the close of trading:The European Union's domestic prices for cold-rolled coil declined this...Read More
The latest news and price moves to start the Asian day on Thursday September 20.Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer. Read more in our live futures report.Here are how prices looked at the close of trading:The European Union's domestic prices for cold-rolled coil declined this...Read More
The latest news and price moves to start the Asian day on Thursday September 20.Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer. Read more in our live futures report.Here are how prices looked at the close of trading:The European Union's domestic prices for cold-rolled coil declined this...Read More
Base metals prices on the London Metal Exchange edged mostly higher at the close on Thursday September 20, but the complex lacked fresh directional news. Zinc continued its strong performance with the three-month price trading 1% higher over the course of the day. It had strong trading volume, registering over 10,000 lots traded by the close. "Given how oversold zinc has been recently, we would gi...Read More
Benchmark alumina prices have seen a steep decline this week for the first time since May, after a number of cargoes were reported to have traded at lower levels. Metal Bulletin's daily fob Australia alumina index fell to $576.38 per tonne from $596.94 per tonne on Thursday September 20, after falling nearly 6% on Wednesday. The index is now 10% lower than a week ago, when it was assessed at...Read More
Comex copper prices were trading at the highest level since late August for the second consecutive day on Thursday September 20, with the dollar plummeting to a fresh low in the US morning. Copper prices for December settlement on the Comex division of the New York Mercantile Exchange gained 0.10 cents or 0.1% to $2.7305 per lb. Yesterday, the contract touched the highest point August 28. Even ami...Read More
Key data from the Wednesday September 19 pricing session in Europe.Key drivers Thin stocks among traders continued to fuel price increases in the European market, with offering prices surging past $100 per kg for the first time since 2005. While consumer activity has been somewhat thin this week, spot interest from traders has been sufficient to drive the precipitous price rise. However, som...Read More
The molybdenum oxide market in Europe has dropped on new deals reported midweek, with lower prices settled as consumers in the steel sector have been mostly absent in the month, sources told Metal Bulletin on Wednesday September 19. With little sign of early September buying interest for molybdenum in Asia following through, European industry sources are expecting more downward pressure on domesti...Read More
Benchmark alumina prices have seen a steep decline this week for the first time since May, after a number of cargoes were reported to have traded at lower levels. Metal Bulletin's daily fob Australia alumina index fell to $576.38 per tonne from $596.94 per tonne on Thursday September 20, after falling nearly 6% on Wednesday. The index is now 10% lower than a week ago, when it was assessed at...Read More
Ferro-nickel has lost competitiveness against stainless steel scrap and nickel pig iron (NPI) as a raw material input for stainless steel, according to Frank Ehrenberg, senior vp for raw materials procurement at Finnish steelmaker Outokumpu.At the Metal Bulletin and Steel & Metals Market Research (SMR) stainless steel conference in Helsinki, Finland, on Wednesday September 19, Ehrenberg said that...Read More