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
Vital Materials has appointed Nick Boulton as its global sales and product manager, the company told Fastmarkets on Friday January 25. Boulton, who will be based in the United Kingdom in this role, holds over 30 years' experience in multiple roles across a variety of market segments including petrochemicals, fine chemicals pharmaceuticals...Read More
Fosterville asset is a production and cash flow game changer and robust production growth is likely to sustain in the next few years.Fosterville asset has an AISC of less than $500 an ounce and as production from asset increases, the company's cash flow growth is likely to be strong.Ample cash with zero debt provides high financial flexibility for growth and exploration projects.Macassa Mine t...Read More
We mentioned that the Friday session would decide the fate of our short position in EUR/USD. We witnessed a rebound and our positions were automatically (and profitably) closed. What kind of action is warranted, is it time to consider opening a long position or not? What about the Japanese yen and the Canadian dollar?Let's jump right into charts.EUR/USD - Sizable InvalidationThe weekly chart shows...Read More
Gold is likely to appreciate at a steady pace. I do not expect a dramatic meltup.Economic growth will remain challenged for many years in developed economies.Inflation will remain low across the globe for the foreseeable future. Inflation will not be the powerhouse behind the rise of the gold price.Carefully-selected gold miner's valuations will appreciate faster than physical gold.This post i...Read More
Markets US government shutdown Fed Brexit US China trade talks USD Gold Oil Government reopens but attention already elsewhere Brexit votes, US/China trade talks, a Fed monetary policy decision and the US jobs report; this promises to be quite a week for financial markets. And all of this comes as the US government ends a 35-day shutdown – the longest in history – aft...Read More
Gold took wing Friday, energized by weakness in the dollar. The $23 upthrust stalled almost exactly at the 1302.90 Hidden Pivot midpoint resistance shown, validating both the bullish pattern and a 1330.40 target we've been using for the last week or so. (Note: These numbers differ slightly from the ones given here earlier because the pattern's point ‘C' low changed.) The 1330.40...Read More
The aluminium market mainly shrugged off the US Department of the Treasury's Office of Foreign Assets Control's (OFAC) long-awaited decision to remove sanctions imposed on producer UC Rusal on Sunday. The market said the removal of sanctions had been expected and therefore is already priced into the premium levels. But Rusal's next move will remain a crucial key to how the market develops in...Read More
Aluminium's three-month price on the London Metal Exchange fell by almost 3% at the close of trading on Monday January 28, continuing to trade at less than $1,900 per tonne while the rest of the complex followed lower.Total aluminium volumes traded on the exchange were moderate, with 13,588 lots changing hands by the close, and while the metal's LME stock levels remained firmly above 1 million ton...Read More
Friday's trading session was pretty bullish, as the broad stock market got back to its recent local high. Is this a topping pattern before another leg down or just some relatively flat correction within a new uptrend?The U.S. stock market indexes gained 0.8-1.3% on Friday, retracing their recent decline, as investors sentiment improved ahead of the quarterly corporate earnings releases, among othe...Read More
The London Metal Exchange's Special Committee has removed the "temporary conditional suspension" on Rusal metal, allowing the warranting of all material dated before and after April 6, 2018, to resume, it said in a note to members on Monday January 28. The move comes after the US Department of the Treasury's Office of Foreign Assets Control (OFAC) decision to remove sanctions imposed on En+, UC Ru...Read More
Currencies rally on Friday... Will Draghi throw the euro under a bus today? Good Day… And a Marvelous Monday to you! It was a washed out weekend for yours truly, as S. Florida received as much rain in 2 days as they normally receive in 1 month… And… It’s supposed to be the “dry season”! But, I don’t let that get me down, for I know the...Read More
Aluminium's three-month price on the London Metal Exchange fell below its nearby support level of $1,900 per tonne during morning trading on Monday January 28, after the US removed sanctions on Russia's biggest aluminium producer, UC Rusal.First imposed on April 6, 2018, the United States' sanctions against the Russian producer spurred uncertainty in both the physical aluminium and alumina markets...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Simon Dawson | Bloomberg | Getty ImagesGold will continue to shine amid a weak dollar, says author and gold pro Jim Rickards.Gold was little changed on Monday, holding near the $1,300 mark as investors awaited further developments on the U.S.-China trade dispute and the Federal Reserve's interest rate trajectory.Spot gold was near unchanged at $1,...Read More
Silver has underperformed the precious metals group so far this year.The speculative community seems to be inclined to reduce their outright long positions.Investor sentiment toward silver is the most negative across the precious metals complex, Fastmarkets shows.But the macro backdrop is friendly and seasonal patterns for silver are bullish for the first two months of the year.Therefore, expect s...Read More
James Hyerczyk19 hours ago (Jan 28, 2019 6:17 AM GMT)Gold is inching higher on Monday, continuing Friday’s steep rally. Supporting the market is a weaker dollar. This is driving up demand for dollar-denominated gold. The U.S. Dollar is being pressured by position-squaring and selling ahead of Wednesday’s U.S. Federal Reserve interest rate decision and monetary policy announcement. Tr...Read More
British pound rally gives gold bulls the short-term advantage they need.Geopolitical uncertainty, dollar weakness continue to support the metal.Gold mining stocks are also teasing an intermediate-term breakout.Just when it seemed as if gold's rally was running out of steam, the metal got a big lift on Friday from a convergence of bullish factors. Not the least of these factors was the sharp declin...Read More
Gold closed above $1,300 on Friday - its first daily close above the psychological hurdle since May - confirming a bull flag breakout or a continuation of the rally from the lows near $1,230. Further gains towards the Fibonacci hurdle of $1,321, however, could be seen after a minor pullback to support at $1,295 (Jan. 17 high), given the relative strength index (RSI) on both the 1H and 4H chart is...Read More
Gold is testing a key inflection point that could determine where it is months and months from now!Gold has created a series of lower highs over the past 8-years just below line (A). The rally over the past 4-months has gold testing the underside of this falling resistance line as well as the underside of line (B) at the same time.Gold looks to be facing a historical kiss of resistance at (1), wi...Read More
This update corrects the contract reference for gold to April, which has higher open interest volume than the February contract. AFP/Getty Images Gold futures for April delivery settled above $1,300 an ounce on Friday, with prices for the yellow metal at their highest since June as the U.S. dollar pulled back and investors eyed geopolitical turmoil and global growth worries. Rising gold prices ref...Read More
The aluminium market mainly shrugged off the US Department of the Treasury's Office of Foreign Assets Control's (OFAC) long-awaited decision to remove sanctions imposed on producer UC Rusal on Sunday. The market said the removal of sanctions had been expected and therefore is already priced into the premium levels. But Rusal's next move will remain a crucial key to how the market develops in...Read More