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
Fastmarkets proposes to discontinue its weekly aluminium premium assessments for aluminium P1020A fob Singapore and aluminium P1020A fob Malaysia. The proposal is based on market feedback that these markets see limited liquidity on an fob basis, with some sources noting that market participants in this region use premiums on an fca basis or in-warehouse warrants instead as a pricing reference. Sub...Read More
Fastmarkets proposes to discontinue three European lead premiums and invites market feedback in a one-month consultation. Fastmarkets has noted a significant lack of liquidity in the three European lead premium markets it assesses, which has led to insufficient data contribution to support the representativeness of it prices. On top of lackluster spot trading interest, the representativeness of st...Read More
Here are five Fastmarkets MB stories you might have missed on Monday January 7 that are worth another look.A resolution of disapproval introduced by United States Senate Democratic Leader Chuck Schumer on Friday January 4 opens the door to sanctions remaining in place against Russian aluminium producer UC Rusal, although some trade lawyers and analysts said those efforts might be in vain.Alum...Read More
McClellan Financial Publications, IncPosted Jan 7, 2019January 4, 2019“If Santa Claus should fail to call, the bears may come to Broad and Wall.”That’s the old saying in the financial markets, referring to the “Santa Claus Rally” period which consists of the last 5 trading days of the year plus the first two of the next year.Yale Hirsch first took on the task of quant...Read More
The stock market has become the United States' "sacred cow." For some reason stock prices have become synonymous with economic growth and prosperity. In truth, the stock market is nothing more than a reflection of the inflation/currency devaluation caused by the Fed's money printing and lascivious enablement of rampant credit creation. 99% of all households have not experienced the rising prosperi...Read More
The New Year holiday dampened activity and price movements in markets in Asia, Europe and the United States in the week ended Friday January 4. Ore and alloy prices unchanged in China, South Korea Japanese market on holiday Ferro-chrome in Europe stable Alloy prices flat in the US UG2 chrome ore prices in China were unchanged in the week Friday January 4, amid a comparatively qu...Read More
The Chinese ferro-silicon market fell in the first week of January, extending losses from the week before amid poor fundamentals. Elsewhere, the European market has been quiet, but has held steady despite little trading, although increased activity is expected with dealers returning after seasonal holidays. China market drops on low demand More Chinese losses expected in the near term Europe stead...Read More
Major global market indices closed higher on Friday as the US released a stronger-than-expected jobs report and the People's Bank of China moved to cut reserve requirement ratios, taxes and fees.The S&P/ASX200 index was higher in afternoon trade, with Mozambique graphite producer Syrah Resources (ASX: SYR) up more than 10% on little news since announcing its first production of spherical graph...Read More
Fastmarkets will host a free web seminar on Tuesday January 15 at 9:30am, London time, to discuss recent and coming trends and how we price the minor metals markets.The webinar will also explain the recent changes to some of our minor metals specifications.Register here to join the webinar.DateTuesday January 15, 2019Time9:30am, London timeJoin our pricing team while they discuss:?EUR?Recent marke...Read More
Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the "Company" or "Siyata") is pleased to announce it has delivered on its first purchase order through a Tier 1 cellular operator to a Canadian transportation company for 180 Uniden (R) UV350 in-vehicle smartphones.Marc Seelenfreund, CEO of Siyata Mobile commented, "This marks a very important milestone for Siyata and proves...Read More
The Turkish steel mills went quiet in the deep-sea scrap markets at the beginning of this week with the market digesting the news of purchases that were heard at the end of last week, sources said on Monday January 7.A steel producer in the Iskenderun region booked a US cargo on January 4, comprising 33,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 3,000 tonnes of shredded at $285 per tonne and...Read More
The domestic scrap price in Turkey has continued to fall over the past week, in line with the weakening imported scrap and domestic finished-steel values, sources said on Monday January 7.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,480-1,550 ($278-291) per tonne delivered on January 7, narrowing down from TRY1,490-1,590 per tonne last week.Long...Read More
By: Jordan Roy-Byrne CMT, MFTAThe precious metals complex has enjoyed a nice run in recent months.GDX has gained 25% since the September lows while GDXJ has gained 22% since its November low. Gold has rallied over $100/oz since its October low and Silver has surged in recent weeks.The Gold community is getting excited again. They think the equity market is doomed and Gold has started a real bull...Read More
The yen, whose behavior corresponds closely to gold's, began 2019 with a giant leap that slightly pierced the 0.94148 midpoint resistance of the pattern shown. This is bullish but would become still more so if the futures can close for two consecutive weeks above it. The 1.03755 target is already in play, but it would become a lead-pipe cinch to be achieved once the March contract is trading d...Read More
By: GoldSeek guest author, Richard Goldstein Gold is a T.A. dream right now, textbook fibs and formations:Read More
Brexit news will be the key in January. Any postponement or new conditions will result in the cable seeing a sell off against the US dollar. Gold will benefit if there is uncertainty on brexit. Japan's prime minister Abe says that Japan is watchful of risks to the global economic recovery. In fact every nation is watchful. This is the one reason that Asia policy makers have not given a clear ind...Read More
Import prices for steel slab in Southeast Asia and East Asia narrowed downward over the past week due to lower offers and bids, amid persistent bearish sentiment and lackluster finished steel markets.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $430-435 per tonne cfr on Monday January 7, down from $430-440 per tonne cfr a week earlier.Trading ac...Read More
Comex copper prices turned modestly lower in the United States on Monday January 7 with a lack of market news and evolving macroeconomic worries. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.35 cents to $2.6440 per lb. Trade talks between China and the US have seen minimal progress over the past few weeks and the lack of resolution is cas...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.2% this morning, Monday January 7, with copper recently quoted at $5,937 per tonne - this after average gains of 1.5% last Friday.Volume across the complex has been average with 5,995 lots traded as at 7.15am London time.In the precious metals this morning, gold prices are off their highs of $1,...Read More
IDM Mining's exploration camp for the Red Mountain Project in northwest BC's Golden Triangle region. Photo by Ellsworth Dickson.Ascot Resources Ltd. [AOT-TSXV; OTVF-OTCQX] said Monday January 7 that it is acquiring IDM Mining Ltd. [IDM-TSXV; IDMMF-OTCQB] in a move it said will create a leading gold development company in British Columbia.Under a definitive agreement between the two companies, Asco...Read More