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
Bitcoin slipped to lower ground in a slow-moving week. The fresh request for an ETF did not help. The technical picture is bearish for BTC/USD, but experts see a short-term recovery. Bitcoin drifted lower, without dramas this time. Jan Van Eck, the man behind the VanEck and SolidX partnership, said that funds are flowing towards gold, this according to a survey of crypto investors. VanEck...Read More
Consumption of ferrous scrap in the United Kingdom will continue to increase over the coming years amid an expansion in the UK operations of international metals group Liberty House, Fastmarkets MB's research team believes. UK scrap demand in 2018 is on course to rise for the first time in four years after Liberty restarted a second electric arc furnace (EAF) at its site in Rotherham, northern Eng...Read More
MAX Resource (TSXV: MXR) announced this week that, following sampling work at five conglomerate trial pits on its Choc?? project, free gold was observed in the test concentrates obtained from each of the hard rock pits.In a press release, MAX said that initial results suggest potential gold continuity throughout a surface area of approximately eight square kilometers, open in all directions.The Va...Read More
GOLD I covered our long Gold position because as it struck 1326 it just did not want to stay up there, and the lower close after making for Gold a new Yearly high was a bit disconcerting so I covered longs at 1321 and look again....Gold needs to break this 1326 area to stand a chance of trading higher. Can we break it when the market is so overbought... I don't think so...but remember these in...Read More
Gold demand came in at 4,345.1 tons in 2018.Central banks accumulated 651.5 tons of gold last year.ETF gold holdings grew by 68.9 tons.By SchiffGold Global gold demand grew by 4% in 2018, driven by a multi-decade high in central bank buying, according to the World Gold Council's Gold Demand Trends 2018 Report. Gold demand came in at 4,345.1 tons in 2018. That was up from 4,159.9 tons the previous...Read More
The economic development of China is one of the most important events in the history of the world. In an unprecedentedly short time, millions of people have been taken out from poverty. But, as no country has ever developed so fast, that great story raises important worries. We invite you to read our today's article about the great progress China made in the last forty years and find out wheth...Read More
Published9:02PM ET Wed, 30 Jan 2019Updated6 Hours AgoReuters Getty ImagesGold bullion bars and coins.Gold slipped on Friday, weighed down by robust U.S. jobs data, but remained on course for a second week of gains buoyed by the U.S. Federal Reserve's signal that it would pause its interest rate hikes.Spot gold dipped 0.23 percent to $1,317.56 per ounce at1:02 p.m. ET, having hit a nine-month pe...Read More
During the lackluster and otherwise unremarkable trading of 2018, a hugely important development took place in the precious metals markets. Gold production, in the estimation of some top industry insiders, peaked.Peak gold represents the point at which the total number of ounces being pulled out of the ground by miners reaches a maximum.The concept of peak gold is controversial, to be sure.During...Read More
• The precious metal reversed an early dip to its immediate confluence support - comprising of 50-hour EMA and ascending trend-line support held since the beginning of this week. • Technical indicators on hourly charts maintain their bullish bias and have already eased from overbought territory, supporting prospects for additional intraday gains. &nb...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Friday February 1, with most futures prices ending the week higher amid continued weakness in the US dollar index and LME stock drawdowns. Despite consolidating 0.5% lower over the afternoon, copper's three-month price remains well supported above $6,100 per tonne. While on-warrant material is now above 100,000 t...Read More
Eldorado Gold released on January 31, 2019, a substantial production update that changed its fair valuation profoundly and outlook of the company from 2019 to 2020.One crucial decision is undoubtedly the resolution to shelve the K????lada?? mill and resume mining instead.EGO experienced Thursday a decisive breakout of the descending wedge pattern. EGO should improve substantially in 2019.Image: D...Read More
The London Metal Exchange has outlined the terms in which it will conduct its electronic price discovery trial of nickel, introducing a trade-at-settlement (TAS) functionality and setting out a scheduled start date of March 18, the exchange said in a notice to members on Friday February 1. The electronic trial will last for three months and will end on June 18, 2019. Closing prices for nickel will...Read More
The price of copper on the Comex exchange in the United States edged lower in the final session of trading on Friday February 1, with the market awaiting further news on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped by 0.20 cents to $2.7825 per lb.Price action in the red metal has been positive throughout the week, on lo...Read More
Excelsior Mining Corp. of Vancouver is developing the Gunnison in situ copper project in Cochise County for production beginning in Q4 2019. Work is progressing on all fronts.The Gunnison project has always been easily accessible. Thanks to the new road south of highway I10, the production wellfield is as well. The property has direct access to road, rail, power and water.Excelsior has five rigs o...Read More
Zambia has fired Pius Kasolo, the chief executive of state mining investment arm Zambia Consolidated Copper Mines Investment Holding (ZCCM-IH), Mines Minister Richard Musukwa said on Friday, without giving a reason.On Monday, Kasolo said the government should quickly resolve its tax row with mining companies to avoid hitting operations and ZCCM-IH dividends.Zambia, Africa's No.2 copper producer, i...Read More
Miner and trader Glencore on Friday stuck to its 2019 production targets and said cobalt output last year soared 54 percent while copper rose 11 percent due to the restart of operations in the Democratic Republic of Congo.Production of cobalt, used in batteries for electric vehicles, reached 42,200 tonnes in 2018 while copper hit 1.453 million tonnes. Zinc output was mostly flat year-on-year at 27...Read More
Teck Resources, (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, announced late on Thursday it expected fourth-quarter profits to be significantly below estimates, due to the low price of Canadian oil at the end of 2018, issues at its operations in Trail, B.C., and a decline in commodity prices.The Vancouver-based mining giant said all those factors combined, plus inventory v...Read More
Courts in Brazil have ruled that up to 12.6 billion Reais ($3.44 billion) of Vale's assets and resources will be frozen after the rupture of a tailings dam at Vale's C??rrego do Feij??o iron ore mine, the miner stated on Friday February 1.The federal prosecutors' office, state prosecutors and the state government of Minas Gerais, where Feij??o is located made most of the complaints. Additionally,...Read More
Light iron steel scrap prices in the United Kingdom increased for the second consecutive week on tighter availability because collection rates have dropped off amid freezing temperatures in the week to Friday February 1.The move to higher prices is only the second increase since the start of November 2018, and puts the market at a level last seen on December 14. Major shredders need a high, steady...Read More
Copper concentrate treatment and refining charges (TC/RCs) dropped further at the end of January, with smelters in China breaking away from the quarterly procurement price floor amid an outlook for a tightening in supply later this year.Fastmarkets' copper concentrate Asia-Pacific TC import index fell to $79 per tonne/7.9 cents per lb on Thursday January 31, the lowest since mid-June, when th...Read More