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
It felt like a mountain of supply sitting on stocks last week, growing more ponderous by the day. By Thursday the broad averages were too fatigued to achieve even minor 'Hidden Pivot' rally targets, the still-feisty FAANGs too subdued to help. Of course, just because the market looked punk on a given day does not preclude the possibility that, come the next, traders will conveniently forget what...Read More
If crude oil rises over $10 by month and floats over $72 (brent), then there will be renewed fears of global recession. Right now, I believe most of the global slowdown related news has been discounted in by the markets. The pace of rise of crude oil will determine recession or growth or slowdown. Energy prices ? inflation determination? Interest rate cycle. There are host of other factors which...Read More
Much has been said of a potential increase in tellurium prices after concerns about a tellurium deficit in 2020 were raised in recent months; but despite firm demand from the solar industry, there are no clear indicators that prices will peak anytime soon due to current market dynamics. Robust solar demand The main driver of increased tellurium consumption is the growth in the cadmium telluride ph...Read More
The global antimony market was largely quiet in the week ended Friday January 11, with prices in China and Europe unchanged. In Europe, Fastmarkets' price assessment for MMTA standard grade II antimony, in-warehouse Rotterdam, was stable week on week at $7,700-7,900 per tonne on Friday. The price for trioxide-grade antimony, in-warehouse Rotterdam, was also steady at $7,900-8,100 per tonne on Frid...Read More
Kirsten Marcia is the founder of DEEP and its President and CEO.The FEDs announced Friday support for a new geothermal energy power facility that is being led by DEEP Earth Energy Production Corp. (DEEP).The energy project is the first of its kind in Canada as its taps into a new energy resource and is located near Estevan in southeastern Saskatchewan.Geothermal energy harnesses heat from the eart...Read More
Goldcorp's Eleonore Mine in northern Quebec. Source: Goldcorp Inc.Consolidation in the global gold mining sector continued Monday January 14 with news that Goldcorp Inc. [G-TSX; GG-NYSE] and Newmont Mining Corp. [NEM-NYSE] have agreed to merge in an all-stock deal worth $10 billion.The combined company, called Newmont Goldcorp, will have operations in the Americas, Australia and Ghana, producing b...Read More
The Turkish steel producers skipped the first day of the week without any deep-sea bookings, while prices were little changed, sources said on Monday January 14.Turkish mills have booked some deep-sea cargoes in the past week from US and Baltic Sea suppliers at around $280 per tonne cfr for HMS 1&2 (80:20) to replenish their stock levels. However, the weakness in finished steel markets w...Read More
Domestic scrap prices in Turkey remained largely stable on the back of moderate demand over the past week, sources said on Monday January 14.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,450-1,590 ($266-292) per tonne delivered on January 14, widening from TRY1,480-1,550 per tonne last week.Long and flat steel producer...Read More
Comex copper prices softened Monday morning in the United States amid new evidence that the trade war is hurting the Chinese economy.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined 3.10 cents to $2.6310 per lb. In December, Chinese trading activity declined as part of the ongoing trade war with the US. The trade balance rose to $395 bil...Read More
The antimony and gold processing facility that is being built in the Port of Sohar Free Zone in Oman by Strategic & Precious Metals Processing (SPMP) will need further capital expenditure and additional working capital, Fastmarkets heard on Monday January 14.This was due to delays to the production of first metal and to the full commissioning of the plant.Tri-Star Resources, which has a 40% stake...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Monday January 14, following the release of weak Chinese trade data.Three-month tin was the only LME base metal in positive territory with a 0.4% gain, while aluminium was little changed and the rest were down between 0.7% for nickel and 1% for zinc - with copper off by 0.8% at $5,911 per tonne....Read More
Key data from the Friday January 11 pricing session in Europe.Key drivers - Spot market inquiries picked up in the first full week of January, but an overhang of alloy-grade material not committed to long-term contracts after an aggressive fourth-quarter mating season generated aggressive offers. - Alloy-grade business was concluded as low as around $20 per lb for inquiries...Read More
Share this articleVANCOUVER - Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) has provided a summary of exploration results from the 2018 exploration program on their 100% owned Justin Gold Project in the Yukon Territory. Work completed in 2018 included the collection of 19 channel and 28 chip samples from 5 trenches, 16 rock samples, 7 till samples and 240 soil samples with...Read More
The tides have turned, dear investor.The great wave of optimism that drove global markets over the past few years has all but receded. Now, pessimism and fear have begun to flow in. And that changes everything, particularly for safe haven assets like gold.Most of the time, gold is a good place to park extra money. That's because prices are generally stable over the long term.Back in 2011, gold pr...Read More
Share this articleVANCOUVER - Denver-based Newmont Mining Corp. and Goldcorp Inc. of Vancouver have agreed to combine their gold companies in a deal worth about US$10 billion.The companies announced today that Newmont will exchange 0.328 of a share and two cents for each of Goldcorp's outstanding common shares.The deal has the unanimous support of the directors of both companies but requires regu...Read More
China's hot-rolled coil prices picked up on Monday January 14 following increases in the futures market, while exporters kept their offers high amid a strengthening of the yuan.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($537-540) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, up 10-20 yuan per tonnePrices rose nationwide during the da...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index continued its early-2019 surge and added 37.43 points to reach 1089.07 for a 3.6% gain. The Index outperformed the SPDR S&P 500 ETF (SPY) which climbed 2.6%. In all, the INK CIN is now up an impressive 10% from its December lows.MACD edged higher...Read More
China's ferrous futures, apart from the iron ore contract, had a strong start to the trading week, ending the morning session on Monday January 14 higher than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,559 yuan ($526) per tonne, up 25 yuan per tonne May hot rolled coil: 3,453 yuan per tonne, up 25 yuan per tonne Dalian Commodity Exchange Ma...Read More
While decreasing raw material costs have driven special bar quality (SBQ) prices down by $1.50 per hundredweight ($30 per short ton) across all grades, most sources offered an optimistic forecast for the year ahead.Fastmarkets AMM's assessment for 1-inch round 1000 series (carbon) hot-rolled bar was $43.50 per cwt ($870 per ton) fob mill on Friday January 11, down 3.3% from $45 per cwt previously...Read More