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 trades like a safe haven because in part that's what it is.The yen is a piece of crap, but it trades like a safe haven due to the relentless popularity of yen carry trades.Divergences or non-confirmations between gold and the yen can create trading opportunities.Editor's note: Originally published at tsi-blog.com on January 8, 2019 About five months ago I posted an article in response to...Read More
Canada's Kirkland Lake Gold (TSX. NYSE: KL) announced Tuesday record gold production for both 2018 and the fourth quarter of the year, thanks mainly to higher-than-expected output at its Australian Fosterville mine as well as its Ontario-based Macassa and Taylor operations.The Toronto-based miner produced 723,477 ounces of gold last year, a 21% increase from the 596,405 ounces generated in 2017.T...Read More
December payrolls were strong – but gold prices rose. What happened? Job Creation Surprises Positively U.S. nonfarm payrolls accelerated in December, beating expectations. The economy added 312,000 jobs last month, following a rise of 176,000 in November (after an upward revision) and significantly above 182,000 forecasted by the economists. The number was the biggest increase since F...Read More
Published8:17PM ET Mon,7 Jan 2019Updated6 Hours AgoReuters Getty ImagesGold bullion bars and coins.Gold fell on Tuesday as global stocks rose on improved prospects for a U.S.-China trade deal and the dollar regained some ground, while palladium notched a fresh all-time high on tight supply.Spot gold slipped 0.3 percent to $1,284.75 per ounce as of 1:48 p.m. ET. U.S. gold futures settled down $4...Read More
Gold was one of the most liquid assets of 2018, with daily trading volumes in the same neighborhood as S&P 500 companies, according to the World Gold Council.This past Friday, Federal Reserve Chairman Jerome Powell commented that "we will be patient" with further rate hikes, which I believe is good news.The Dallas Fed president, Robert Kaplan, said he supported putting additional rate hikes on...Read More
Chile's copper industry will triple its use of sea water for industrial processes in the next decade, state copper agency Cochilco said on Tuesday, as global miners in the world's top producer of the red metal seek alternatives amid growing water shortages.Cochilco said in a report that it expected use of sea water, both desalinated and direct from the ocean, to increase by 230 percent over 2018 l...Read More
Base metals started the new year where they left off the old one, by falling again.The London Metal Exchange index (LMEX) slumped to a one-and-a-half year low of 2730.1 on Jan. 3.The trigger was Apple Inc's revenue warning, not the type of news event that normally roils prices of old-economy metals such as copper, lead and zinc.But the reaction was highly instructive of what to expect in the month...Read More
irst Quantum Minerals Ltd. is poised to fire up a giant copper project in Panama, thousands of miles from its beleaguered mines in Zambia. For bondholders, that's a welcome distance.The Canadian copper company is ramping up production at the Cobre Panama plant this year, even as a mining tax hike forces it to shed jobs and cut production at its Zambian facilities. With Panama slated to become a mo...Read More
Copper output in Chile, the leading producing nation, is expected to exceed 6 million tonnes for the first time this year and continue to rise by about 30% over the next 10 years, according to the country's state copper agency, Cochilco.Production of the red metal, the agency says, could reach a record of 7.25 million tonnes as early as 2025, thanks mainly to new projects and planned expansions to...Read More
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.If the stock market was "big fat ugly bubble" in 2016, what is it now?The stock market has become the United States' "sacred cow."...Read More
• A goodish pickup in the US bond yields revive USD demand and prompt some selling. • The prevalent risk-on mood further dents the commodity’s relative safe-haven status. • Focus shifts to Wednesday’s latest FOMC meeting minutes/Powell’s speech on Thursday. Gold extended the overnight retracement slide from the...Read More
Gold futures finished higher on Monday, staging a partial rebound from their worst single-session drop in two weeks, with prices getting a boost as downbeat U.S. ISM nonmanufacturing data helped pressure the dollar. February gold on Comex GCG9, +0.05% gained $4.10, or 0.3%, to settle at $1,289.90 an ounce, following a 0.7% fall on Friday, its largest daily drop since Dec. 21, according to FactSet...Read More
I advised investors to buy Gold when it was trading at 1,217 in October, with a take profit target of 1,300. Last week, Gold hit highs of around 1,298.Macro developments should continue to be supportive of Gold prices, as well as a more accommodative Federal Reserve policy.Wait for a retracement in XAU/USD to 1,240-1,250 to enter Gold. The VIX Index remains at elevated levels, which means the mark...Read More
Peter KrauthThe price of gold is starting to catch fire thanks to the stock market's latest struggles.Gold could be in store for a strong 2019, even if stocks recover from their recent dramatic sell-off.Gold wrestled against the dollar between May and November as the DXY rose from 89.5 to 97.5.But just as the dollar index peaked mid-November, gold put in a bottom from which it has risen an impress...Read More
Economic indicators point to slowdown in the Eurozone, China and India. With key economies witnessing sluggish growth, risk-off trade will boost gold price.I expect the Fed to pause on contractionary monetary policies and a global economic downturn is likely to impact the US economy as well.Demand for gold from central bankers remains robust and demand for gold bars and coins is picking up as inve...Read More
After a hiatus of more than two years, China is adding to its gold reserves again. The People’s Bank of China increased holdings to 59.56 million ounces by the end of December, or about 1,853 metric tons, from 59.24 million ounces previously, according to data on the central bank’s website. They had been unchanged since about 130,000 ounces were added in October 2016. The world’s...Read More
• The precious metal stalled its post-NFP sharp retracement slide from 6-1/2 month tops and managed to find decent buying interest near 200-hour SMA. • A subsequent move beyond 100-hour SMA was seen as a key trigger for bullish traders, with the commodity now trying to form a base above 50-hour SMA. • Technical indicators on t...Read More
Import prices for billet in the United Arab Emirates fell this week, with demand remaining poor, sources told Fastmarkets on Tuesday January 8.Domestic rebarLocal rebar producers announced reduced prices on December 20 for material to be shipped in January. The country's largest producer, Emirates Steel, was offering rebar at 1,899 dirhams ($517) per tonne, Conares Steel was offering rebar...Read More
The Ixtaca project feasibility study is very positive, despite notably higher initial CAPEX.Some of the changes included in the feasibility study should help to decrease the project footprint and water consumption which should help during the permitting process.Despite higher CAPEX, the after-tax NPV and IRR remain almost unchanged compared to the PFS, due to the higher feed grades.Permitting and...Read More
Fastmarkets has corrected its Turkey import hot-rolled coil price, which was published incorrectly on Friday January 4.The Turkey import hot rolled coil $ per tonne cfr main port price was published in error after the market was reassessed as stable and offer prices did not change. The price has now been updated to $460-470 per tonne cfr, after it was previously published at $460-480 per tonne cfr...Read More