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
The floodgates are about to open, and early investors stand to reap some major rewards.Everyone knows: It's the casino that NEVER LOSES.And for years, the gaming industry has been stuck in a legal limbo, with black market bookies and smoky underground clubs soaking up billions in potential profits.But the floodgates are about to open to the general public.A key law outlawing online gambling across...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 17 that are worth another look.China's auto sales fell last year for the first time since the 1990s, dampening expectations for steel demand in 2019 although some in the market think that there are still opportunities for steelmakers to remain profitable.The London Metal Exchange announced it will launch seven new...Read More
USDCHF, "US Dollar vs Swiss Franc" As we can see in the H4 chart, USDCHF is consolidating. In this case, the price is expected to rebound from the 5/8 level and fall towards the support at the 3/8 one. Risk Warning: the result of previous trading operations do not guarantee the same results in the future The lines in the H4 and H1 charts are completely the same and confirm the scenario...Read More
• The precious metal struggled to build on the overnight positive momentum and was again seen retreating from the top end of a near one-week-old trading range. • The recent price-action constituted towards the formation of a rectangle, usually seen as continuation pattern but sometimes mark significant trend tops/bottoms. •&nb...Read More
Stocks went slightly up yesterday, as investors' sentiment remained bullish following the recent advances. The S&P 500 index extended its short-term uptrend, before closing just 0.2% higher. Is this a short-term topping pattern or just another consolidation within an uptrend?The U.S. stock market indexes gained 0.2-0.6% on Wednesday, extending their short-term uptrend, as investors' sentiment...Read More
Gold futures pulled back on Thursday from the nearly two-week high they settled at a day earlier, as the psychologically important $1,300 line remained elusive for another session. "The dovish U.S. Federal Reserve has been supporting the market," with some officials at the central bank suggesting a cautious approach to future interest-rate hikes, analysts at ICICI Bank wrote in a daily note. "This...Read More
Palladium has risen more than 10 percent so far this monthPublished 20 Hours AgoUpdated6 Hours AgoReuters Leonhard Foeger | ReutersPalladium surpassed the $1,400 mark for the first time on Thursday, as demand for the auto-catalyst metal overtook its availability in the market, while gold edged lower as the dollar gained on better-than-expected U.S. jobs data.Spot palladium gained 2.28 percent to...Read More
In January, ProShares changed its silver and gold ETFs to track futures-based indexes.This marks the first time leveraged and inverse ETFs will benchmark to gold and silver futures prices.The move to futures-based indexes presents the opportunity to replace the high costs associated with using forwards with a more cost-efficient model using futures contracts.By Leks Gerlak At a Glance As the exch...Read More
Silver was thought of as a godlike metal in ancient times and was associated with magic. It was often used in ancient religious ceremonies.Silver has a very robust profile of uses, including: electronics, automotive, medicinal, coins and medals, photography, and green tech.Silver has a six thousand year history of use as money, longer than gold, from ancient Mesopotamia to the US Constitution.Silv...Read More
The 13-day-long contracting triangle seen in gold's 4-hour price chart is more likely to be breached to the downside, courtesy of the recovery rally in the US dollar - gold's biggest nemesis. As of writing, gold is trading at $1,292 per Oz, having clocked a high of $1,295 earlier today. Notably, the dollar index (DXY), which tracks the value of the greenback, has risen by 1.18 percent in t...Read More
Former trader at Kyen Resources, Nishchay Chadha, has joined Viant Commodities as their head of trading in the Viant office in Singapore, Fastmarkets has learned. Chadha will oversee the refined metal and scrap trading business at Viant Commodities, a source close to...Read More
Major Indonesian integrated steelmaker PT Krakatau Steel is defending its market share of the domestic hot-rolled coil market in the face of more flat steel capacity coming on stream in the country from 2019 onward.It is adding a second hot strip mill at its 55-hectare complex in Cilegon, West Java, which it expects to come online in the second half of this year. The new 1.5-million-tpy mill will...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday January 17, with zinc futures climbing just under 2% while positive trading in aluminium resulted in the metal's moderate volume the highest in today's trading. Zinc's three-month price rallied throughout the afternoon to breach its nearby $2,500-per-tonne resistance level and close at its highest level...Read More
The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More
China's exports of unwrought aluminium and aluminium products increased by 19.8% in December 2018 compared with December 2017, but down 0.6% from November 2018, according to preliminary Chinese customs data.China exported 527,000 tonnes of unwrought aluminium and aluminium products in December, a 87,000-tonne increase from the same month of 2017 and 3,000 tonnes less than in November 2018, customs...Read More
Chile's Cochilco state copper commission on Thursday maintained its average price prediction of $3.05 per pound for 2019, rising to $3.08 for 2020, amid the continuing U.S.-China trade war and further potential volatility because of Brexit.Cochilco said it saw production at 5.941 million tonnes for 2019, up 1.6 percent from 5.845 million in 2018, and a 227,000 tonne deficit in the global market fo...Read More
Cornish Lithium, a start-up hoping to lead the development of an industry for the battery metal in the UK, has secured a further ?1 million (about $1.3 million) from its existing investors, which will allow the firm to expand its ongoing drilling work in the ancient mining region of Cornwall, in south-west England.A year ago, the company said it needed about ?5 million to develop its project, w...Read More
Northern Superior Resources (TSX-V: SUP) issued a press release this week stating that it is ready to move forward with both its TPK gold-silver-copper project located in northwestern Ontario and its Lac Surprise gold project located in Quebec.The Sudbury-based company said it expects to start drilling at the Ti-pa-haa-kaa-ning property, known for its initials TPK, by mid-February, following the c...Read More
Spey Resources (CSE: SPEY) announced that it has entered into an option agreement with Geoxplor Corp. to acquire a 100% interest in the Uravan vanadium-uranium project located in the La Sal area of San Juan County, Utah.Under the terms of the agreement, the Canadian miner has to pay the exploration company $310,000 cash, issue 3.5 million common shares, and make an additional payment of $1 million...Read More
An economic slowdown in China, consumer of about half the world's commodities, is the single biggest challenge for the mining and metals sector in 2019. (Image courtesy of Liebherr.)A worsening of the ongoing economic slowdown in China, consumer of about half the world's commodities, is the single biggest challenge mining and metals companies face this year, a new survey of senior executives shows...Read More