(Kitco News) - For most precious metals investors, 2018 has been a frustrating year, especially in the last four months as gold prices have dropped 10%.However, for some bullish investors, the year has been fantastic as there is one metal that has been the bright star in the precious metals marketplace, and some analysts see potential for even higher prices in the long-term.So far this year, rhodi...Read More
(Kitco News) -Although negative sentiment in the gold market is at historic highs, some analysts suggest that prices could continue to push lower and possibly below $1,200 an ounce in the near term as the market lacks a catalyst to reverse the current trend.While gold is off its recent one-year low, the market is still preparing to end its fourth straight week in negative territory. Gold has close...Read More
(Kitco News) - Wall Street figures gold prices are due for a bounce while Main Street looks for further weakness, based on the weekly Kitco News gold survey. Sixteen market professionals took part in the Wall Street survey. Eight respondents, or 50%, called for higher prices, while six, or 38%, said lower. Two respondents, or 13%, predicted a sideways market. Meanwhile, 989 voters responded in an...Read More
(Kitco News) - Gold prices are trading moderately up and at their session highs in late-morning action Friday. Shorter-term futures traders are exiting their previously sold, or short, positions heading into the weekend. Also, after prices dropped to a 12-month low overnight some perceived bargain-basement buying has surfaced today. It could also be that smart-money traders are looking just over t...Read More
TODAY MCX ZINC CALLMcx Zinc Call - Buy Zinc at CMP 177.40 for Target 178.30 - 178.90 with SL below price level 176.40. RISK taker trade 2 lots Read More
(Kitco News) - The gold market is pushing higher Friday following weaker-than-expected growth in the U.S. labor market in July.The Bureau of Labor Statistics said 157,000 jobs were created in last month. Economists were expecting to see job gains of 191,000. While July's numbers were disapointing some economists are noting that previous months data were revised higher. June employment gains were r...Read More
(Kitco News) - Copper prices continue to hover at a one-year low, but one mining CEO said that now is the time to jump back into the space to take advantage of he sees as a long-term bull market. Luquman Shaheen, CEO and president of Panoro Minerals In a recent telephone interview with Kitco News, Luquman Shaheen, CEO and president of Panoro Minerals noted that while economic uncertainty is d...Read More
Equinox Gold Corp. (TSXV: EQX) says its Aurizona project in Brazil is on schedule to achieve a gold pour by the end of 2018, with average annual production projected at 136,000 ounces. As of the end of the second quarter, the overall project was 60% completed and plant construction 51% completed. The $146 million project is fully funded, the company reports. During the second quarter, the compan...Read More
(Kitco News) - Traders are watching the release of July nonfarm payroll numbers this morning. Job creation numbers are expected to come in around 200,000, but the focus will be on wage pressures. If wage growth begins to nudge closer to 3% annualized, the market may begin to factor in a more aggressive Fed. We continue to see an opportunity for a bounce but gold needs to maintain the $1,207 level...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 remains under pressure and the sellers just won't go away. For months, gold has felt like an elephant was sitting on top of it. Every day I think this will be the day that we see at least a dead-cat bounce, but every day there is disappointment. The action in gold has been predictable based on the footprint that is being left by the money flow. It's obvious the strong hands are the sellers an...Read More
The latest news and price moves to start the Asian day on Friday August 3.Base metals prices on the London Metal Exchange posted split moves at the close of trading on Thursday August 2, with half of the complex ending lower amid pressure from the re-emergence of trade tensions between the United States and China in addition to a seasonal summer slowdown. Read more in our live futures re...Read More
The latest news and price moves to start the Asian day on Friday August 3.Base metals prices on the London Metal Exchange posted split moves at the close of trading on Thursday August 2, with half of the complex ending lower amid pressure from the re-emergence of trade tensions between the United States and China in addition to a seasonal summer slowdown. Read more in our live futures re...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Base metals on the London Metal Exchange were mostly higher at the close of trading on Friday August 3, supported by a slight uptick in the yuan and a dip in the dollar index.Over this week, the re-emergence of trade tensions between the United States and China was the driver of a broad downtrend in metals prices, despite broadly positive fundamentals across the complex. In particular,...Read More
KAZ Minerals is buying the Baimskaya copper project in Russia to enable it to boost copper production at a lower cost, the company said this week.KAZ has identified the project, which is located in the Chukotka region in Russia's Far East, as one of the world's most significant undeveloped copper assetsFirst production is expected around 2026.Baimskaya has the potential to become a large-scale, lo...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
China's domestic spot battery-grade lithium carbonate prices continued dropping this week with most producers offering lower prices to boost sales, while battery-grade lithium hydroxide prices were static despite pressure for lower prices.Lithium carbonate battery-grade spot prices continue downtrend due to lower offers and weak downstream demand.Lithium hydroxide battery-grade spot prices held un...Read More
KAZ Minerals is buying the Baimskaya copper project in Russia to enable it to boost copper production at a lower cost, the company said this week.KAZ has identified the project, which is located in the Chukotka region in Russia's Far East, as one of the world's most significant undeveloped copper assetsFirst production is expected around 2026.Baimskaya has the potential to become a large-scale, lo...Read More
Unionized workers at the Mount Polley copper mine in Canada have voted 79% to accept a new three-year contract, ending a 10-week strike. The contract as an effective date of January 1, 2018, and employees are currently being recalled to work to reestablish normal operations, according to the mine owner Imperial Metals Corp. The collective agreement with USW Local 1-2017 had terminated on December...Read More