As was widely expected, yesterday President Trump made good on his word to implement an additional $200 billion in tariffs on Chinese goods imported into the United States. In response to his action, the Chinese government added tariffs on $60 billion of U.S. imports. It seems, at least for now, both governments are using big sticks with no carrots in sight.One major wildcard that was not anticipa...Read More
(Kitco News) - Gold prices are modestly down, while silver is just slightly lower, in early-afternoon U.S. trading Tuesday. The U.S. dollar index has moved up from its daily lows at midday, while the U.S. stock market is in rally mode, to put mild selling pressure on the two precious metals markets. December gold futures were last down $2.20 an ounce at $1,203.50. December Comex silver was last do...Read More
(Kitco News) - Gold prices have drifted to modestly lower levels and near their daily lows in late-morning trading Tuesday. Some fresh chart-based selling has occurred today, as the bears still have the overall near-term technical advantage. There is also some selling pressure in gold today tied to ideas the escalating U.S.-China trade war will prompt less demand for metals coming out of China, du...Read More
Eldorado Gold Corp. (TSX: ELD; NYSE: EGO) says it has requested a government payment of some $750 million euros for damages that are the result of delays in permits for the Skouries project. The payment does not initial legal proceedings. "The application represents a good-faith attempt to resolve the matter with the Greek state as it relates to costs incurred resulting from permit delays to...Read More
Global equity markets have barely blinked after the Trump administration imposed a 10% tariff on $200 billion products imported from China; however, currency analysts at Brown Brothers Harriman say that markets are too sanguine on the potential risks of the ongoing trade war. They note that along with China, the U.S. has ongoing trade talks with Japan, Europe and looks to revamp the North America...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
Gold continues to churn like the mouse on the wheel, running very fast only to end up in the same place that it started. For the past couple of months, that has been the story -- run fast but go nowhere. There are many signs pointing to a possible gold breakout to the upside, the biggest being the ratio to the S&P. The S&P has been outperforming the metals by a large margin and appears to...Read More
(Updates with closing prices) By Peter Hobson LONDON, Sept 18 (Reuters) - Copper prices rallied on Tuesdayas investors shrugged off new tit-for-tat tariffs by China andthe United States to send stock markets higher and the dollarlower. Fears that a U.S.-China trade war would dampen demand forcommodities have pushed industrial metals sharply lower inrecent months, with copper down 17 percent from a...Read More
* Trump imposes 10 pct tariffs on $200 bln goods from China * Expectations of higher U.S. interest rates pressure gold * GRAPHIC-2018 asset returns: (Recasts; updates prices, headline; adds comment, second bylineNEW YORK to dateline) By Renita D. Young and Zandi Shabalala NEW YORK/LONDON, Sept 18 (Reuters) - Gold prices turnednegative on Tuesday as the dollar strengthened following newsthat China...Read More
The latest news and price moves to start the Asian day on Tuesday September 18.Base metals prices on the London Metal Exchange showed mixed movement on Monday September 17, with the complex awaiting new direction. Read more in our live futures report.Here are how prices looked at the close of trading:The United States Office of Foreign Assets Control (OFAC) has said it will allow Russian alum...Read More
The latest news and price moves to start the Asian day on Tuesday September 18.Base metals prices on the London Metal Exchange showed mixed movement on Monday September 17, with the complex awaiting new direction. Read more in our live futures report.Here are how prices looked at the close of trading:The United States Office of Foreign Assets Control (OFAC) has said it will allow Russian alum...Read More
The copper premium was more than $100 per tonne for the first time in three years during the week ended Tuesday September 18, with the price in the Shanghai market continuing to rise because the import arbitrage was wide open.Premiums became firmer across Asia, while the European and US markets were preparing to receive long-term contract offers from major producers. The copper premium was well ab...Read More
A summary of base metals premiums from across the globe for the week to Tuesday September 18.Please click...Read More
Ferro-chrome prices rise in China, tracking UG2 prices higher, while alloy prices decline in Europe and the United States. UG2 prices rise for second week running Charge chrome import prices follow ore higher Japan and South Korea markets hold ahead of further strength in China European alloy prices drop on lower benchmark anticipation US alloy prices weaken amid poor deman...Read More
European ferro-vanadium and vanadium pentoxide (V2O5) prices climbed higher in the week ended Friday September 14 to reach more than 13-year highs amid supply concerns, while Chinese exporters held back offers to compensate for limited stocks.Chinese export prices underpinned by strong domestic marketEuropean FeV prices rise 5.5% week on week on supply concernsEuropean V2O5 prices edge up despite...Read More
European ferro-vanadium and vanadium pentoxide (V2O5) prices climbed higher in the week ended Friday September 14 to reach more than 13-year highs amid supply concerns, while Chinese exporters held back offers to compensate for limited stocks.Chinese export prices underpinned by strong domestic marketEuropean FeV prices rise 5.5% week on week on supply concernsEuropean V2O5 prices edge up despite...Read More
Fresh concerns about the impact of the escalating US-China trade war have unsettled minor metals and ferro-alloys markets after the United States announced it is imposing new tariffs on $200 billion worth of Chinese goods. The higher import taxes will apply to almost 6,000 items - the biggest round of US tariffs so far. Minor metals and ferro-alloys that appear on the new list of tariffs include:...Read More
Fresh concerns about the impact of the escalating US-China trade war have unsettled minor metals and ferro-alloys markets after the United States announced it is imposing new tariffs on $200 billion worth of Chinese goods. The higher import taxes will apply to almost 6,000 items - the biggest round of US tariffs so far. Minor metals and ferro-alloys that appear on the new list of tariffs include:...Read More
The Chinese government is poised to directly target the US non-ferrous metals and ore sector in the tit-for-tat trade war launched by US President Donald Trump. Beijing has highlighted metals and ores in a list of products that may be subject to retaliatory tariffs to the United State's third list of duties on Chinese tech, drafted over alleged thefts of US intellectual property. The US Trade Repr...Read More
The first deep-sea scrap booking of the week, made by a Turkish steel mill on Monday night, boosted prices after coming to light on Tuesday September 18.A steel mill in the Iskenderun region booked a European cargo, consisting of 26,000 tonnes of HMS 1 & 2 (80:20) at $317 per tonne and 4,000 tonnes of...Read More