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
Zinc ingot premiums fell to their lowest levels in eight and a half years in Antwerp and Rotterdam on Tuesday February 26 due to market sellers offloading units in reaction to tightening London Metal Exchange future price spreads. European zinc premiums drop sharply Shanghai zinc market flat South and East Asia lead markets unchanged with little buying European zinc premiums drop to 8...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday February 27 that are worth another look.Following reports of a potential power shortage in one of China's major ferro-alloy production hubs in the second quarter of this year, market participants have downplayed any immediate impact on ferro-alloy prices in the country, saying they intend to adopt a wait-and-see stance in...Read More
Led by the team behind the development of the La Arena gold mine in Peru, Rio2 intends to use the proceeds at its Fenix gold project in Chile, which it acquired in July 2018 through its merger with Atacama Pacific Gold Corp.Rio2 had announced plans earlier this month to raise between $3-$5 million by issuing up to 10.9 million units at 46c but now plans to issue 15.2 million at the same price, say...Read More
The London Metal Exchange has received its first application ahead of its introduction of the Registered Intermediating Brokers (RIBs) membership category, according to a note to members on Wednesday February 27.Freight brokerage firm Simpson Spence & Young (SSY) confirmed to Fastmarkets that the firm's membership is now being considered by the LME and circulated to existing members for approval....Read More
Significant copper concentrate stocks from the Democratic Republic of Congo (DRC) are now sitting in bonded warehouses in Zambia, awaiting an unlikely roll-back of the import duty enforced by the Zambian government, Fastmarkets has learned. A 5% import duty has been applied on Zambian copper concentrates imports since the start of 2019, causing major smelters including Vedanta's KCM and Chinese-ow...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday February 27 pricing session in Europe.Key drivers - Persistent supply worries involving a major supplier prompted short-covering and is expected to propel prices higher in the weeks to come. Ferro-titanium producers and traders have been getting more buying interest from Europe and the United States. With one producer typically offering at least 350 tonnes per month to...Read More
Vancouver, BC - Peekaboo Beans Inc (CSE:BEAN | OTCQB:PBBSF) (the "Company" or "Peekaboo Beans") a children's apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play, today announced that the Company's Chief Executive Officer, Traci Costa, will present at the upcoming Gravitas Growth Conference, which is being held on February 28, 201...Read More
A weaker secondary aluminium market in Europe and a lack of domestic demand drove the UK secondary aluminium market down by 2.9% on Wednesday February 27. Fastmarkets assessed the price of LM24 pressure diecasting ingot on a delivered consumer works basis at ?1,380-1,440 ($1,839.18-1919.15) per tonne on Wednesday, with deals concluded toward the lower end of the range. This is the lowest pri...Read More
* LME copper stocks near 10-year lows * Zinc stocks at lowest since 2007 (Updates with closing prices)By Pratima DesaiLONDON, Feb 27 (Reuters) - Copper rose on Wednesday asexpectations of strong demand growth from top consumer Chinaboosted sentiment, but the rally was capped by strong technicalresistance at eight-month highs.Benchmark copper on the London Metal Exchange closedup 0.2 percent at $6,...Read More
By: Jordan Roy-Byrne CMT, MFTABack in 2013 I recall having a bearish view on the stock market due to extremely bullish sentiment readings. The market completely ignored that, made a major breakout through 13 year resistance and continued running for years.Lesson learned.Turning to Gold, we find something similar during major breakouts in 2005, 2007 and 2009. In the chart below we plot Gold alon...Read More
By: Ira EpsteinFed Powell was more of a political discussion and not financial.Lower dollar, yields falling. Gold's volatility falling, a market in no-man's land. Gold held $1,323.3 -- bulls won the day. Gold's seasonal chart running into resistance...Read More
Rick's Picks avidly follows the stock market's ups and downs each day, as well as the way it is influenced by the Fed's silly obfuscations. On some days it feels as though the cheerleaders at The Wall Street Journal et al. are overdoing it, generating enough hubris to stand economic logic on its head. But let's not kid ourselves. Whether this rally has a week to go, a month, or even a year, t...Read More
Gold will break free from $1320-$1340 trading range and form a new range anytime soon. Silver needs to trade over $1596 to zoom. Copper needs to trade over $291 (till Monday) to zoom. If crude oil rises today and tomorrow, then chances of $60 by next week will be very high. Germany's Merkel wants a united Europe to counter Asia. Chancellor Merkel has said that European political and business l...Read More
The Turkish deep-sea scrap import market has been quiet so far this week due to continuing limited demand for finished steel products, which is making Turkish producers hold back from buying raw materials, sources said on Wednesday February 27.The scrap import market in Turkey went quiet at the end of last week after a Baltic Sea cargo transaction, which sent prices down by $20 per tonne week on w...Read More
Key data from the Wednesday February 27 pricing session in Europe.Key drivers - Persistent supply worries involving a major supplier prompted short-covering and is expected to propel prices higher in the weeks to come. Ferro-titanium producers and traders have been getting more buying interest from Europe and the United States. With one producer typically offering at least 350 tonnes per month to...Read More
The Choco Precious Metal Project in Colombia. Source Max Resource Corp.Max Resource Corp. [TSXV: MXR, OTC: MXROF, FSE: M1D1] (“MAX” or the “Company”) is pleased to report the results of a “cloud stitched” Long Wave InfraRed (LWIR) survey over a 1,000 sq. km area within the Company’s 1,757 sq. km “Choco Gold Bearing Conglomerate Project”, locate...Read More
Hand sample from Nasigon NE showing disseminated copper minerals (bornite, covellite, malachite) in calc-silicate rock at the Mitchi Project in Quebec. Source: Kintavar Exploration Inc.Kintavar Exploration Inc. [KTR-TSXV] shares were active Wednesday February 27 after the company released final assays from 2018 drilling on its Mitchi property in Quebec."We are very excited with these final result...Read More
Gold futures finished lower on Tuesday to mark their first two-session skid in nearly three weeks. Still, the price move was modest, showing little reaction to the U.S. Federal Reserve Chairman Jerome Powell's first day of testimony to Congress, at which he backed a wait-and-see mode. Some weakness in stocks, falling yields and a softer dollar - all factors that would ordinarily support bullion -...Read More
The 60,000 tonne-per-day Mount Milligan open pit, copper-gold mine is located approximately 90 miles northwest of Prince George in central British Columbia, Canada. Source: Centerra Gold Inc.Centerra Gold Inc. [CG-TSX; CAGDF-OTC] on Wednesday February 27 announced positive news in relation to its bid to secure a vital supply of water for its Mount Milligan copper-gold mine in British Columbia.The...Read More