The impact of trade tensions between China and the United States became the main topic for participants of the seaborne coking coal market on Thursday August 23, with the former's tariff on imports from the latter coming into effect....Read More
China's steel futures fell during morning trading on Thursday August 23, while contracts for steelmaking raw materials ended the session slightly higher than their opening prices....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
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 domestic stainless steel prices were unchanged over the past week with demand remaining soft while the nickel market rebounded....Read More
Brass scrap prices in the United States have plummeted and most copper and brass scrap discounts have widened over the past week, driven by ample domestic supply - exacerbated by China's 25% tariff on copper scrap imports - exceeding US demand....Read More
Key data from the Wednesday August 22 pricing session in Shanghai....Read More
A combination of factors collectively have had a net positive effect on the pricing for gold futures today. The most prevalent factor moving gold prices higher today was dollar weakness. Now, for the fifth consecutive day, the dollar has lost value as it trades against a basket of foreign currencies.As of 4:00 PM Eastern standard time, the dollar index is currently trading off by 2/10 of a percent...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) - Gold prices are moderately higher in early-afternoon U.S. trading Wednesday and are back above $1,200.00, on some safe-haven demand as U.S. President Trump may be in some legal and political trouble. December gold futures were last up $4.40 an ounce at $1,204.50. September Comex silver was last down $0.011 at $14.76 an ounce. The just-released minutes of the last Federal Open Market...Read More
(Kitco News) - The gold market is holding support above $1,200 an ounce as the Federal Reserve remains optimistic on the U.S. economy and continues to see a gradual rise in interest rates, according to the minutes of the monetary policy meeting at the start of the month.Gold is seeing little reaction to the minutes as there were few surprises in the comments from central bankers. Markets are alrea...Read More
Image by:Pavel Ignatov / Shutterstock.com (Kitco News) - The S&P 500 Index has reached a historical milestone: Wednesday marked the longest bull market run in history and one market analyst said that this is the time that investors need to move into precious metals and mining stocks. Fred Hickey, creator of the investment newsletter The High-Tech Strategist In an exclusive inte...Read More
(Kitco News) - Switzerland’s trade data suggest that as of July, demand for gold in the physical market was still sluggish, analysts said.The country’s exports during the month were 115 tonnes, a year-on-year decline of 3% and the lowest July total in four years, said the consultancy Metals Focus. However, gold demand from two key nations - India and China - was mixed, said Commerzbank...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold prices hung onto earlier gains after sales of previously owned U.S. homes fell by 0.7% in July to a seasonally adjusted and annualized pace of 5.34 million, according to a report Wednesday from the National Association of Realtors.Around 10:03 a.m. EDT, Comex December gold was up $3.60 at $1,203.70 an ounce....Read More
Russia has increased its official-sector holdings of gold at a time when the U.S. is increasing economic sanctions on the country, says commodity brokerage SP Angel. “Russia increased gold reserves the most in July than any other month this year amid a potential new round of U.S. sanctions,” the firm says. Analysts cited news reports saying that Russia’s central bank bought 26.1...Read More
(Kitco News) - Gold touched our target of $1,200 that we mentioned on Monday morning. We do not yet believe that a fundamental change has occurred in the downtrend but assume that the bears are becoming increasingly nervous. The release of the Fed minutes this afternoon, from their the August policy meeting, will be scrutinized for signs that the Fed is becoming more cautious on their hawkish its...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
Now that the metals have hit our downside targets and have bounced, is it time to buy? The answer is not as easy as one might think. As an investor, you can always buy as long as you are investing money that you don't need for the mortgage, car payment or other daily living expenses. As a trader, the buy was near the $1,180 level. It's now time to watch and see how far this bounce can take gold. S...Read More
The latest news and price moves to start the Asian day on Wednesday August 22.Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Tuesday August 21, underpinned by a retreat in the United States' dollar while international trade rifts continue to deter commodity investment. Read more in our live futures report.Here are how prices looked at the close o...Read More
The Brazilian steel sector has urged the government to refrain from taking measures to open up the economyto free trade and increased imports. ...Read More