(Kitco News) - Gold prices are solidly higher, near their daily highs and poised to produce a technically bullish weekly high close in afternoon trading Friday. The U.S. dollar index is solidly lower following comments from Federal Reserve Chairman Jerome Powell in Jackson Hole, Wyoming this morning. The Fed is not seeing risks of the U.S. economy overheating or of inflation accelerating above it...Read More
(Kitco News) - For some commodity analysts, this could be the perfect time to buy gold as it looks like U.S. monetary policy will be less supportive of the U.S. dollar going forward.Gold’s four-month downtrend appears to have come to a halt following what economists are describing as neutral to dovish comments from Federal Reserve Chairman Jerome Powell. The yellow metal is seeing its best w...Read More
(Kitco News) - Wall Street and Main Street both look for higher gold prices next week, based on the weekly Kitco News gold survey.This marks a sharp turnabout for Main Street, after 74% of these respondents last week called for gold to fall during the current week. This was the most Main Street bearishness in the survey’s three-year history.This time around, 326 out of 718 Main Street respon...Read More
(Kitco News) - Gold is poised for a big short-covering rally, with the metal only needing a fresh catalyst, said analysts with Commerzbank in an outlook report released Friday.The German bank said it looks for the precious metal to reclaim $1,300 an ounce by the end of the year. As of 10:09 a.m. EDT, spot metal was at $1,200.20 after a long slide from the $1,364 area back in April.Some investors m...Read More
(Kitco News) - Gold prices are holding above the critical psychological barrier at $1,200 an ounce and up more than 1% on the day as Federal Reserve Chair Jerome Powell highlights the central bank's commitment to gradually raise interest rates as the U.S. economy continue its strong performance.In his much-anticipated remarks at the global central bank retreat at Jackson Hole Wyoming, said that th...Read More
Just before the minutes to the previously concluded Federal Reserve Open Market Committee (FOMC) meeting on August 1st were released this Wednesday, gold was in the process of back-testing the $1200 region in the December contract. The precious metal had made a nice $40 reversal from last Thursday’s over-night spike low at $1167 but was stopped cold at it’s 18-day moving average yet a...Read More
(Kitco News) - Gold prices have pushed to session highs at the critical psychological level of $1,200 following weaker than expected manufacturing data.Friday, the U.S. Census Bureau said that new durable goods orders dropped by $4.3 billion or 1.7% to $246.9 billion, in July, missing expectations. Consensus forecasts were calling for a decline of 0.7%.Core durable goods, which strips out the vola...Read More
(Kitco News) - Gold rejected the $1,200 level Wednesday and rejected the $1,180-ish area overnight. The market seems unsettled and we suggest the risk rests with the bears. The bounce overnight was the result of some profit taking and value buying ahead of Fed Chairman Powell’s speech to central bankers later today. The market’s conflict comes from the U.S.-China trade war and the Turk...Read More
The latest news and price moves to start the Asian day on Friday August 24.Lead prices were up by more than 2% at the close of trading on the London Metal Exchange on Thursday August 23, while nickel, copper and tin prices struggled to maintain the midweek relief rally amid a resurgence of US-Sino trade tensions. Read more in our live futures report.Here are how prices looked at the close of...Read More
The latest news and price moves to start the Asian day on Friday August 24.Lead prices were up by more than 2% at the close of trading on the London Metal Exchange on Thursday August 23, while nickel, copper and tin prices struggled to maintain the midweek relief rally amid a resurgence of US-Sino trade tensions. Read more in our live futures report.Here are how prices looked at the close of...Read More
The latest news and price moves to start the Asian day on Friday August 24.Lead prices were up by more than 2% at the close of trading on the London Metal Exchange on Thursday August 23, while nickel, copper and tin prices struggled to maintain the midweek relief rally amid a resurgence of US-Sino trade tensions. Read more in our live futures report.Here are how prices looked at the close of...Read More
Zinc prices on the London Metal Exchange appreciated more than 2.5% by the close of trading on Friday August 24, leading broad complex gains, while a weaker dollar and broad risk aversion in the market continue to unsettle commodity investment....Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Metal Bulletin has amended its formula for calculating the daily copper, aluminium, zinc and nickel arbitrage between the Chinese and global metals markets.As part of a separate consultation, Metal Bulletin proposed to discontinue the publication of single numbers for its base metals premiums and instead continue to publish low-high premium assessments. Following the consultation and feedback...Read More
Key data from the pricing session ending August 24....Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Key data from the pricing sessions in London and Shanghai on Friday August 24....Read More
Prices for grade-316 stainless steel scrap in Europe and the UK have increased because of reduced availability, market sources told Metal Bulletin on Friday August 24....Read More
A week-long religious holiday in Turkey has kept that country out of the global scrap market for most of the past week, aside from a single deal heard on Friday August 24....Read More