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
Oversupply continued to push European cobalt metal prices downward in January 2019, with buyers stepping back from the spot market amid a shared negative outlook.Meanwhile, the Chinese price for cobalt sulfate ticked upward because of stockpiling before the Lunar New Year holiday, February 4-10.Price movesThe cobalt benchmark price moved below $20 per lb in late January, with persistent selling pr...Read More
Reunion's Aremu prospect in Guyana showing artisanal mining. Source: Reunion Gold Corp.Reunion Gold Corp. [RGD-TSXV] said Monday has agreed to embark on a strategic alliance with Barrick Gold Corp. [ABX-TSX, NYSE] to explore, develop and mine mineral properties in the Guiana Shield of South America.Under the agreement, the two companies will form a 50:50 alliance that will cover certain mineral pr...Read More
Turkish deep-sea scrap import prices went up on Tuesday February 5 following the sale of a higher priced cargo, sources told Fastmarkets.A steel mill in the Marmara region booked a Baltic cargo comprising 25,500 tonnes of HMS 1&2 (80:20) scrap at $321.50 per tonne cfr and 7,500 tonnes of bonus at $331.50 per tonne cfr.This new cargo price is an increase when compared to the sale of a European carg...Read More
The Max Resource 30-person exploration camp and bulk testing facilities in Colombia. Source: Max Resource Corp.[MXR-TSXV; MAXROF-OTC; M1D1-FSE] rallied strongly in active trading Monday February 4 after the company said it has signed a sponsorship deal with Star Finance GmbH, a privately-owned communications services provider based in Steinhausen, Switzerland and Cologne, Germany.Max shares jumped...Read More
Gold futures posted a second straight session decline on Monday, in part as a leading dollar index gained, though bullish analysts considered the metal's action to be only a pause in its recent uptrend. "Higher Chinese demand for gold and silver have been factored in by the markets," said Chintan Karnani, chief market analyst at Insignia Consultants, but Chinese consumer buying will still "be clos...Read More
Comex copper prices in the United States shrugged off earlier losses in morning trading on Tuesday February 5, with the base metals complex temporarily boosted by the lack of Chinese participation while the East Asian country begins its Lunar New Year holiday.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rebounded by 2.20 cents on February 5 to $2....Read More
Oversupply continued to push European cobalt metal prices downward in January 2019, with buyers stepping back from the spot market amid a shared negative outlook.Meanwhile, the Chinese price for cobalt sulfate ticked upward because of stockpiling before the Lunar New Year holiday, February 4-10.Price movesThe cobalt benchmark price moved below $20 per lb in late January, with persistent selling pr...Read More
I just got back from a trip to Texas. Here is a picture of the Permian Basin from the air:When I first saw it, I didn't know what it was. Not farms, not houses. Just empty dirt lots lined up like track homes. After some research, I discovered that those squares are DUCs: drilled but uncompleted wells. I find it absolutely amazing. What it means is that the United States has more oil and gas than...Read More
The Tuesday Market Minute Global stocks edge higher, taking the MSCI World index to a two-month high, as U.S economic data and corporate earnings offset concerns over China trade talks.Fed Chair Powell meets with President Donald Trump, statement stresses data dependence on rate moves.BP shares jump 4%, leading European energy stocks higher, after stronger-than-expected fourth quarter earnings a...Read More
Russian steelmaker Severstal is forming a joint venture with global tube & pipe producer Tenaris to build a oil country tubular goods (OCTG) plant in the Surgut area of West Siberia.The welded pipe plant will be "in close proximity to the main oil and gas companies," Severstal said on Tuesday February 5. The Russian steelmaker will have a 51% interest in the JV, while Tenaris will own the rem...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have risen over the past week but demand has remained soft, sources told Fastmarkets on Tuesday February 5.Demand was subdued because stock levels in the UAE were already high and buyers wanted to see which direction prices would move after the Lunar New Year holiday in China, they added.UAEChina-origin HRC was on offer to the U...Read More
European distributors of flat steel products reported a 3.1% year-on-year drop in shipment volumes in 2018, Eurometal said this week. "Shipments decelerated mainly in the second half of 2018, with mounting uncertainties regarding the European automotive industry and related supplier sectors," the regional federation for steel, tube and metals distribution and trade, said on Monday February 4. ...Read More
European long steel buyers are facing higher offers from suppliers which hope that prices will increase in the coming weeks, now that the European Commission (EC) has launched its new steel import quotas.The EC imposed import quotas last year as part of its provisional measures in a trade safeguard case involving steel product imports. That regime was launched in July 2018, but it has now been rep...Read More
CIS export wire rod and rebar prices increased in the week ended Monday January 4, following the uptrend in the billet segment and after customers in some destinations began accepting higher prices, which rendered additional support to CIS suppliers.In particular, Belarus-origin wire rod offers - with load readiness in April - were heard at $465-470 per tonne fob Black Sea at the end of last week,...Read More
The import prices for steel billet and rebar in the United Arab Emirates increased this week on higher offers, but domestic prices were unchanged week on week, sources told Fastmarkets on Tuesday February 5.Domestic rebarLocal rebar producers in the UAE announced reduced their prices on January 21 for material to be shipped in February.The country's largest producer, Emirates Steel, was offering r...Read More
COT SPECIAL PUBLICATION SCHEDULE Reminder -- The last COT report was published on December 21, 2018. Reports going forward from that date will be published in chronological order beginning with the report previously scheduled for release on Friday, December 28, 2018 (based on data from Monday, December 24, 2018). The CFTC published the first report on Friday, February 1, 2019. After th...Read More
Turkish deep-sea scrap import prices went up on Tuesday February 5 following the sale of a higher priced cargo, sources told Fastmarkets.A steel mill in the Marmara region booked a Baltic cargo comprising 25,500 tonnes of HMS 1&2 (80:20) scrap at $321.50 per tonne cfr and 7,500 tonnes of bonus at $331.50 per tonne cfr.This new cargo price is an increase when compared to the sale of a European carg...Read More
By: Dave KranzlerPrice inflation has been badly misrepresented by CPI figures and have been averaging closer to about 8% annually since gold topped in Sept 2011. Since then the purchasing power of the dollar has declined by about 43%, so that in 2011 dollars the gold price is $740. No one seems to have noticed, leaving gold extremely cheap. - Alasdair Macleod, "Ten Factors To Look For In Gold I...Read More
Something big is happening in the gold market right now, and nowhere is that more apparent than in central banks of emerging economies. Last year was a watershed in the size of official gold purchases, as banks added an incredible 651.5 tonnes (worth some $27.7 billion) to their holdings, according to the World Gold Council (WGC). Not only is this a remarkable 74 percent change from 2017, but...Read More
Dr. Rand Paul is the junior United States Senator for Kentucky. Elected in 2010, he has proven to be an outspoken champion for constitutional liberties and fiscal responsibility, and a warrior against government overreach. A graduate of Duke University School of Medicine, Rand was a practicing ophthalmologist in Bowling Green, Ky., for 17 years. Rand has been a vocal advocate for term limits, a ba...Read More