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 and silver are steady. Trump's top economic advisor is looking for commitments from China for a trade deal. Uncertainties over a trade deal will prevent gold from a big sell off. Right now the trend in gold is neutral. Silver needs to trade over $1500 to be in a bullish zone. Day traders are on the sidelines. Long term investors are using sharp dips to invest in gold. Some large fund manage...Read More
The Comex copper price failed to rebound on Wednesday January 23 with technical selling continuing to weigh on the red metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.05 cents to $2.6590 per lb. Persistent worries over the unresolved trade war between the United States and China are keeping...Read More
The Goldsource Mines Eagle Mountain Gold Mine in Guyana, South America. Photo courtesy Goldsource Mines Inc.Shares of Goldsource Mines Inc. [GXX-TSXV, GXSFF-OTCBB, G5M-FSE] rallied sharply on Wednesday after the company reported a new high-grade discovery at its Eagle Mountain Gold Project in Guyana.The discovery was made during ongoing exploration in an area known as the Salbora target.Highlight...Read More
Three-month base metals prices on the London Metal Exchange had dipped in recent days on the back of global growth concerns and after follow-through buying from last week waned, but the complex is broadly up again with average gains of 0.3% this morning, Wednesday January 23.Tin, that has been a star performer this year, was bucking the trend with a 0.3% dip to $20,390 per tonne. The rest were up...Read More
Drilling operations at the Barkerville Gold Mines Cariboo gold project near Wells, British Columbia. Source: Barkerville Gold Mines Ltd.Barkerville Gold Mines Ltd. [BGM-TSXV; BGMZF-OTC; IWUB-FSE] on Wednesday reported impressive results from drilling at its Cariboo Gold project in central British Columbia.Wednesday's news release contains the final drilling results from the 2018 Cow Mountain explo...Read More
Click to enlargeGoldsource Mines Inc. [GSX:TSXV] is pleased to report a new high-grade discovery from the first two diamond core hole results based on the ongoing exploration program at the Salbora target, Eagle Mountain Gold Project in Guyana. Salbora is located approximately 1.5 kilometres northwest of Eagle Mountain.The Company's first two diamond core holes include EMD18-053 with 40.0 metres (...Read More
A decade ago, China quietly turned the small city of Yunfu into an alternative energy juggernaut.What was once barren hills is now an industrial park that churns out hundreds of electric cars and buses each year.You and I both know why the Chinese are concerned about air pollution.Back in October 2013, China issued its first red alert for smog, the most serious level on its air quality index.And s...Read More
Tsingshan Group, Taiyuan Iron & Steel (Tisco) and Baosteel - China's leading stainless steel mills - will maintain their high-carbon ferro-chrome tender prices unchanged month on month for February amid comparatively stable domestic stainless steel prices over the past few weeks. Tisco released its February tender price for high-carbon ferro-chrome at 6,650 yuan ($977) per tonne on Tuesday January...Read More
In 2008, when gasoline prices were around $4 a gallon, I went looking for a new car. "What about these Mustangs?" I asked the dealer."Take your pick," he said, while he stuffed his cigarette through the hole in the tall plastic ashtray. "These will be the last muscle cars you'll ever see. Make me an offer; we have dozens of them."No one was buying the gas-guzzlers back then because the thought was...Read More
What is the world's best long-term electricity play?It's debatable. Some people might say coal or natural gas. Others might say nuclear, solar, hydrogen fuel cells, or something else related to electricity generation.Still others might say the best electricity play isn't related to generation but instead storage. And they might say lithium batteries are the best long-term electricity play.So what...Read More
China's hot-rolled coil prices were largely stable on Wednesday January 23 with both demand and supply declining ahead of the Chinese New Year.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($543-546) per tonne, unchangedNorthern China (Tianjin): 3,650-3,670 yuan per tonne, down 10 yuan per tonneA Hangzhou-based trader told Fastmarkets MB that demand had been dropping with more and more end us...Read More
The coking coal and coke contracts led the uptrend in the Chinese ferrous futures market during the morning trading session on Wednesday January 23.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,638 yuan ($534) per tonne, up 1 yuan per tonneMay hot-rolled coil: 3,560 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 528 yuan per tonne, up 0...Read More
Prices for hollow steel sections in Northern Europe moved downward on Wednesday January 23 due to falling costs for feedstock materials, market participants have told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?5 per tonne to ?,?630-640 ($716-727) per tonne delivered on January 23, from ?,?635-645 ($726...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 23, after the previous week's price reductions failed to spark an increase in activity.Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe stayed at $530-550 ($602-625) per tonne delivered on Wednesday. The contract dipped from $540-560 per tonne a week ago.Few deals were repor...Read More
European prices for mesh-quality wire rod stayed flat across the continent on Wednesday January 23, with buyers still unwilling to commit to purchases while they see the potential for lower prices in future after the implementation of the European Commission's new import quotas.Fastmarkets MB's weekly domestic price assessment for mesh-quality wire rod in Northern Europe stayed at ?,?530-550 ($602...Read More
Deep-sea scrap import prices into Turkey remained firm on Wednesday January 23, with suppliers trying to raise their offers to mills which are trying to replenish their depleted stocks, sources told Fastmarkets.A deep-sea cargo from late last week came to light on Wednesday, indicating a minimum price of $290 per tonne cfr for United States-origin HMS 1&2 (80:20).A steel mill in the Iskenderun reg...Read More
Seaborne iron ore prices fell further on Wednesday January 23 with offers continuing to outnumber bids.MB 62% Fe Iron Ore Index: $74.48 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.32 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.84 per tonne cfr Qingdao, up by $0.06 per tonne.MB 58% Fe Premium Index: $65.94 per...Read More
The coking coal and coke contracts led the uptrend in the Chinese ferrous futures market during the morning trading session on Wednesday January 23.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,638 yuan ($534) per tonne, up 1 yuan per tonneMay hot-rolled coil: 3,560 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 528 yuan per tonne, up 0...Read More
Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More
China's rebar prices were unchanged on Wednesday January 23 in both the domestic and export markets amid uncertainties due to conflicting signals from movements for billet and steel futures.Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($543-549) per tonne, unchanged Northern China (Beijing): 3,670-3,700 yuan per tonne, unchangedThe price of billet fell late on Tuesday on weak demand, but re...Read More