Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Gold moved higher as the USD Indexmoved lower in today’s pre-market trading. Before providing you with mythoughts on why that happened and what the implications are, let’s see exactlywhat transpired. Figure1 - USD IndexIn yesterday’s (Jan. 19) analysis , I commented on the above USD Index chart in the following way:TheUSD Index is after a major breakout above the declining resist...Read More
Anyone who owns precious metals, mining shares or metals' ETFsknows the drill.First, gold and silver begin toestablish an uptrend on the charts. Analysts (like us) start writing about howprices are getting ready to make an upside run.Then "out of nowhere" thousands of highly marginedfutures contracts hit the market on the short side, "re-painting" thecharts, sending terror into...Read More
The London Metal Exchange copper price closed above the $8,000 per tonne mark for the first time in nearly two weeks on Monday February 8, with the majority of the other base metals prices also increasing on account of a falling dollar index. Copper's price closed at $8,037 per tonne on Monday, a 1.6% rise from its price on Friday at 5pm of $7,912.50 per tonne and its first time closing above $8,0...Read More
Iron ore prices went up on Monday February 8, with growing steel mill interest in mid-grade fines at ports, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $160.50 per tonne, up $3.49 per tonne62% Fe low-alumina fines, cfr Qingdao: $160.80 per tonne, up $3.27 per tonne58% Fe fines high-grade premium, cfr Qingdao: $146.45 per tonne, up $2.16 per tonn...Read More
The minimum target for silver is $21.81, but expect a drop even lower to...by Captain Ewave of CaptainEwaveCaptain EwaveGold, Silver & Oil: Price Reaction PlaybookEmail: [email protected]Website: www.captainewave.comCrude Oil:We continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:(iii) = 1.618(i) = 93.96. It now looks like wave $i$ of (iii) is exte...Read More
A range trade is likely for now in silver...by Morris Hubbartt Super Force SignalsA Leading Market Timing ServiceWe Take Every Trade Ourselves!Email: [email protected][email protected]Here are today's videos and charts. The videos are viewable on mobile phones as well as computers. Double-click to enlarge the charts.SGS Key Charts, Signals, & Video AnalysisSuper Force Signals (SFS) is being reb...Read More
The seaborne fob coking coal market trended down on Monday February 8 amid weakened market sentiment and limited trading activity, sources said. Fastmarkets indices Premium hard coking coal, fob DBCT: $154.04 per tonne, down $2.49 per tonne Premium hard coking coal, cfr Jingtang: $217.23 per tonne, unchanged Hard coking coal, fob DBCT: $133.57 per tonne, down $1.63 per tonne Hard coking coal, cfr...Read More
The London Metal Exchange copper price closed above the $8,000 per tonne mark for the first time in nearly two weeks on Monday February 8, with the majority of the other base metals prices also increasing on account of a falling dollar index. Copper's price closed at $8,037 per tonne on Monday, a 1.6% rise from its price on Friday at 5pm of $7,912.50 per tonne and its first time closing above $8,0...Read More
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Domestic prices for steel rebar in Russia's Central Federal District around Moscow were largely flat in the week to Monday February 8, with buyers expecting prices to fall due to slow demand and declining exports, several sources told Fastmarkets.Buying activity in the region's rebar market was quiet over the assessment week.Construction activity in Russia, the main market for rebar, typically slo...Read More
so RAPAPORT... Pandora shuttered approximately 30% of its retail network in January amid a new outbreak of coronavirus cases.Most of the store closures were in Europe, with all its UK shops shut as the country battles a more severe variant of the virus, a spokesperson for the Danish jeweler told Rapaport News Monday. As of December 31, some 10% of global locations were closed.The company's sa...Read More
RAPAPORT... De Beers has suspended all mining and ore processing at its jointly owned Gahcho Ku?(C) mine in Canada after six employees tested positive for Covid-19.The cases, which came to light during proactive testing of all on-site employees, followed two additional cases that the miner confirmed last week, De Beers said Saturday. Another 47 workers who came into contact with the individuals ha...Read More
RAPAPORT... The shop of the future will feature online concierge services and allow customers to buy on the web and collect in-store. Retail will work in a whole new way. Are jewelry retailers prepared for this shift?The key is to listen and respond to what the public wants, according to panelists on the latest episode of Rapaport's podcast series on technology. "The end consumer is saying to...Read More
Sir Mick Davis, former chief executive officer of Xstrata plc, has launched an investment company focused on battery minerals and has made its first strategic financing move in a graphite mine in Madagascar.The new company is called Vision Blue Resources. It has said that it intends to capitalize on the structural change in battery mineral demand now under way globally, by acquiring a portfolio of...Read More
The spot premium for copper rod has moved for the first time in eight months, boosted by improving demand for the commodity in the United States.Although copper rod is mostly traded on long-term contracts, spot demand for rods has been growing recently.Fastmarkets assessed the copper rod premium, ddp Midwest US at 17-18 cents per lb on Thursday February 4, rising from the previous range of 16-17 c...Read More
(IDEX Online) - The global diamond industry proved resilient in 2020, despite a 20 per cent drop in rough production and a fall of 15 per cent in diamond jewelry sales. And it is poised for recovery in 2021.Those are among the key findings of the comprehensive 54-page Tenth Annual Global Diamond Report 2020-2021, published today by the business consultants Bain & Company and the Antwerp World...Read More
RAPAPORT... Increased synthetic-diamond production led to a price drop last year, giving lab-grown a greater share of the fashion-jewelry market, according to Bain & Company.Production of lab-grown diamonds has seen double-digit growth over the past two years, reaching 6 million to 7 million carats in 2020, Bain said Monday in its annual report on the industry conducted in partnershi...Read More
(IDEX Online) - Tiffany & Co has reportedly told its 5,000 US workers they must start working two days a week on site, from 1 March.The French luxury conglomerate LVMH, which completed its acquisition of the New York-based jeweler last month, wants to bring it in line with the hybrid working schedule operated at its other interests."It's critical at this time of change that we adopt a hyb...Read More
(IDEX Online) - The sale of Ekati, Canada's first diamond mine, has been completed.Troubled owners Dominion, the world's third biggest supplier of diamonds by carat, sold the mine and associated assets to Arctic Canadian Diamond Company.The new company has been established by DDJ Capital Management and Brigade Capital Management, representing holders of Dominion's second lien notes....Read More
Peru reported a year-on-year decrease in copper production for the second month in a row in December, while zinc output continued to recover, according to the latest data from the country's Ministry of Energy & Mines (Minem).The country produced 221,980 tonnes of copper equivalent the last month of 2020, down 1.6% from the 225,496 tonnes produced in December 2019. Production had fallen 2.4% y...Read More