Physical iron ore was trading at lower prices on Tuesday August 21 with more restrictions affecting mills in China....Read More
BHP expects quality differentiation to remain an important element in the iron ore price formation, even as it sees prices coming under pressure in the short-term amid supply growth and ample inventories at Chinese ports, the miner said on Tuesday August 21....Read More
China's steel futures fell in the morning trading of Tuesday August 21, despite talk of earlier-than-usual winter steel production cuts....Read More
Oliver Nugent, a former executive of the London Metal Exchange, will leave his role as commodities strategist at ING Group to join the commodities research division of Citibank, sources close to the matter told Metal Bulletin....Read More
MMG Dugald River, a subsidiary of MMG Ltd, has entered into an agreement to sell around 40,000 dry metric tonnes of zinc concentrate per annum to China Minmetals Corp (CMC) subsidiary Minmetals North-Europe from 2019 to 2020.The sales agreement is expected to provide Chinese end-users and smelters with "efficient access" to zinc concentrate, Australian-Chinese miner MMG said on Monday August 20."C...Read More
The base metals were up across the board by an average of 0.8% basis three-month prices on the London Metal Exchange on the morning of Tuesday August 21. This extends the rebounds that got underway on Thursday August 16 - the question is whether this is another dead-cat bounce or the start of a more meaningful recovery after a long drawn out downtrend that for most metals has dominated since...Read More
Finnish stainless steelmaker Outokumpu has lowered its alloy surcharge for September deliveries of grade-304 cold-rolled (CR) stainless steel sheets by ?,?61 ($70) per tonne....Read More
China's steel futures fell in the morning trading of Tuesday August 21, despite talk of earlier-than-usual winter steel production cuts....Read More
Physical iron ore was trading at lower prices on Tuesday August 21 with more restrictions affecting mills in China....Read More
China's steel futures fell in the morning trading of Tuesday August 21, despite talk of earlier-than-usual winter steel production cuts....Read More
On Friday of last week, we spoke about the fact that over the last two trading days (Thursday and, Friday) we had seen the first real signs of gold pricing finding support and reaching a potential bottom.One of the most revealing days was Thursday, when gold traded to the lowest price point this year before recovering. After trading to an intraday low of $1167 per ounce, gold futures (basis the mo...Read More
(Kitco News) - Gold prices are posting good gains in early-afternoon U.S. trading Monday, with silver just modestly up. Some positive economic news coming out of China, a major metals importer, helped to lift the metals markets today. Also, some short covering in the gold and silver futures markets was featured following the recent selling pressure. The gold and silver market bears appear to be ex...Read More
NEW YORK (Reuters) - As Wall Street prepares on Wednesday to celebrate the current U.S. bull stock market becoming the longest in history, some investors are keeping corks in their champagne bottles.Not all stock experts will honor the milestone because they use different definitions of bull and bear markets.While one group is widely recognized for determining U.S. economic cycles - the National B...Read More
(Kitco News) - Gold’s “capitulation” presents a buying opportunity for the metal and mining stocks, says Adrian Day, chairman and chief executive officer of Adrian Day Asset Management.Spot gold has fallen from above $1,350 in early April to below $1,200 an ounce. Last week, gold hit its weakest level since early 2017.“The U.S. economy, stock market, and particularly [the U...Read More
Money has flowed out of gold-backed exchange-traded products this month, and there may be more of this from losing positions before gold prices can finally stabilize, says Suki Cooper, precious-metals analyst with Standard Chartered. ETPs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. The amount of gold coming out of ETPs has reached 38 ton...Read More
(Kitco News) - Gold continues to find buyers on expectations that this week's meeting with China on trade issues will ratchet back the escalation of a full-blown trade war. The currency crisis in Turkey also has seen some calming in rhetoric. As a result, the dollar has lost some ground as the safe-haven play and benefitted the commodity space. Traders are also watching for the develop...Read More
(Kitco News) - Gold prices are posting decent gains in early U.S. trading Monday, with silver also modestly up, as there is some positive economic news coming out of China, a major metals importer. Some short covering in the gold and silver futures markets is featured to start the trading week. The gold and silver market bears appear to be exhausted at present, which does begin to suggest market b...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
For now, gold and silver appear to have put in at least temporary bottoms. For the next few weeks, we would expect the metals to rally or at worst case hold the recent lows. There are no guarantees that the lows are in, but we would only be long at these levels. Gold should make a run at $1,200, $1,220 and then $1,240. The $1,130 level is still lurking out there, but the action is turning from bea...Read More
(Updates prices; adds comment, second byline; previous datelineLONDON) * Gold hits more than 1-1/2 year low last week * Weak prices stimulating physical demand in Asia * Bearish speculators remain in control * Investors looking ahead to U.S. Fed speech on Friday * Technicals suggest gold has further to fall By Renita D. Young and Peter Hobson NEW YORK/LONDON, Aug 20 (Reuters) - Gold prices inchedh...Read More