(Kitco News) - Gold and silver prices are lower in early-afternoon U.S. trading Thursday, with gold back below $1,200.00. The U.S. dollar index has regained some footing and is trading solidly higher today after sliding lower most of this week, and that's a daily negative for the precious metals markets. December gold futures were last down $9.40 an ounce at $1,193.90. September Comex silver was l...Read More
(Kitco News) - Gold prices remain down on the day following disappointing preliminary manufacturing and service sector data.Thursday, research firm IHS Markit, said that its flash Purchasing Managers Index for August, fell to a reading of 54.1, down from July's final reading of 55.3. Economists were calling for a reading of 55.9.At the same time the firm's service sector PMI showed a reading of 55...Read More
(Kitco News) - Economic data continues to have little impact on the gold market as investors continue to focus on strong momentum in the U.S. dollar.Gold prices while not reaction to weaker than expected housing data, remain under pressure and below important support at $1,200 an ounce.Thursday the U.S. Commerce Department said that new home sales fell 1.7% in July, to a seasonally adjus...Read More
Gold has been under pressure since the start of Asia-Pacific trading as the U.S. dollar starts to recoup some of Wednesday’s losses, says MKS (Switzerland) S.A. “The USD strength persisted throughout the [Asia-Pacific] morning and all the precious complex continued to sell off unabated leading into the SGE [Shanghai Gold Exchange] open,” MKS says. “Right on the open, the g...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 has had a nice run from the $1,167 lows from a week ago, rallying over $40 in the last week. It should be no surprise that there are sellers showing up here to take some profits. Gold has acted according to script for the last few weeks. As gold continued its bear market, working its way down to the $1,180 level, the bounce came and took gold back to resistance at the $1,210 level. The action...Read More
The latest news and price moves to start the Asian day on Thursday August 23.Base metals on the London Metal Exchange were mostly higher at the close of trading on Wednesday August 22, with zinc and tin posting sizable gains while the complex benefited from positive market sentiment on US-Sino trade talks. Read more in our live futures report.Here are how prices looked at the close of trading:The...Read More
The latest news and price moves to start the Asian day on Thursday August 23.Base metals on the London Metal Exchange were mostly higher at the close of trading on Wednesday August 22, with zinc and tin posting sizable gains while the complex benefited from positive market sentiment on US-Sino trade talks. Read more in our live futures report.Here are how prices looked at the close of trading:The...Read More
Lead prices on the London Metal Exchange were up over 2% at the close of trading 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
The prices of base metals on the London Metal Exchange were mostly lower during morning trading on Thursday August 23, with broad weakness coming amid the implementation of corresponding US-Sino trade tariffs, respectively totaling $16 billion. Falling more than 2% over the morning, nickel prices have lost the most ground, but they remain well supported above $13,000 per tonne after falling to the...Read More
Efforts by the global aluminium industry to meet emissions targets are becoming the rule rather than the exception, and there is no going back, according to the chief executive officer of aluminium producer Norsk Hydro.This includes China, which has significantly increased its efforts to tackle pollution from industries including aluminium smelting in recent months."A market without strict environ...Read More
Chilean lithium and iodine producer Sociedad Quimica y Minera's (SQM) earnings in the first half of 2018 rose by 21.2% year on year to $247.7 million from $204.4 million the year before. Total revenue from SQM's five businesses increased by 13% to $1.15 billion in the first six months of 2018, from $1.02 billion in the corresponding period last year. SQM's first-half results were led primarily by...Read More
The aluminium market has been thrust into a period of uncertainty that has become a feature of the trade in recent months because of tariffs and sanctions, a situation that seems unlikely to change, the head of Norwegian producer Norsk Hydro said.A key effect was to push aluminium premiums in the United States to near-record highs at one point, Svein Richard Brandtz??g told Metal Bulletin on...Read More
China's cobalt tetroxide prices have been under pressure in the past few months from high inventories, weak spot demand and substitution by battery makers, market participants told Metal Bulletin. Metal Bulletin assessed Chinese cobalt tetroxide prices (72.6% Co) at 340,000-360,000 yuan ($49,700-52,623) per tonne on Wednesday August 23, down more than 20% from two months ago. The cobalt tetro...Read More
Turkish steel producers continued their absence from the deep-sea scrap markets on Thursday August 23 while the Eid al-Adha religious holiday continued....Read More
Three-month base metals prices on the London Metal Exchange were mainly down on the morning of Thursday August 23, with lead prices bucking the trend with a 0.2% rise, while the rest were off by between 0.5% for aluminium and 1.5% for nickel. The three-month copper contract was down by 1.2% at $5,941 per tonne.Volume has been high with 11,053 lots traded as at 07.37am London time.This morning's ge...Read More
China's cobalt tetroxide prices have been under pressure in the past few months from high inventories, weak spot demand and substitution by battery makers, market participants told Metal Bulletin. Metal Bulletin assessed Chinese cobalt tetroxide prices (72.6% Co) at 340,000-360,000 yuan ($49,700-52,623) per tonne on Wednesday August 23, down more than 20% from two months ago. The cobalt tetro...Read More
Chilean lithium and iodine producer Sociedad Quimica y Minera's (SQM) earnings in the first half of 2018 rose by 21.2% year on year to $247.7 million from $204.4 million the year before. Total revenue from SQM's five businesses increased by 13% to $1.15 billion in the first six months of 2018, from $1.02 billion in the corresponding period last year. SQM's first-half results were led primarily by...Read More
China's domestic hot-rolled coil prices dipped on Thursday August 23 amid weak demand, while export offers remained relatively high despite an absence of bids....Read More
China steel production is supposedly yet to peak in the next decade due to expectations that the country will double its domestic steel usage over time, miner BHP said in a commodity outlook this week....Read More