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
Many important things happened yesterday. Cohen testified before the Congress, the USNorth Korea Summit took place, while tensions between India and Pakistan escalated. Will these developments boost gold? India and Pakistan Engage in Another Conflict over Kashmir India and Pakistan are once again squaring off over the disputed region of Kashmir. It began with the suicide attack in Indian-ad...Read More
XAUUSD, H1 The dollar has traded mostly weaker, showing losses of 0.4% against the Euro, 0.8% to the Swiss Franc, which has been the day’s outperformer, and a 0.2% advance on the Yen. The U.S. currency fared better against Sterling, which corrected some of its recent strong gains against most currencies, and the dollar bloc currencies, which have been under some pressure amid a risk-off back...Read More
We've seen a clear turnaround in sentiment on gold.As a couple of key technical levels come into focus a number of old headwinds are beginning to turn.Gold could be on the cusp of a new bull market after an 8 year bear. This week we look at an important chart on the gold price outlook as a number of key themes and indicators are starting to shift for gold, and commodities more broadly for that...Read More
We have published two articles on gold on this website during the past half year. The first concluded on November 1st, 2018 that gold appears to be an attractive investment during the next few years. Subsequently, we argued that gold is likely to confirm a cyclical trend reversal and continue its rally to the upside. Our assessment proved correct as the US Dollar price of gold increased over the c...Read More
Mining three satellite deposits that outcrop within one to three kilometres of the Madsen mill at its Madsen project in Red Lake, Ontario, would add roughly $51 million in after-tax net present value to the Madsen project, Pure Gold Mining (TSXV: PGM) reports.A preliminary economic assessment released today of the three satellite deposits-Fork, Russet South and Wedge-was based on their combined re...Read More
• The USD struggles to build on the overnight bounce and helps regain traction. • US-China trade uncertainty/risk-off mood further underpin safe-haven demand. • Market participants now eye US Q4 GDP print for some meaningful impetus. Gold finally broke out of its Asian session consolidation phase and is currently placed at the t...Read More
Rebar and wire rod prices in Turkey's domestic markets have continued to weaken because of sluggish demand, especially from the construction sector, sources said on Thursday February 28.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY2,950-3,050 ($556-575) per tonne ex-works on Thursday, down from the TRY3,100-3,150 per tonne of last week.The domestic rebar price in the...Read More
The Comex copper price was lower in the US morning on Thursday February 28 after soft Chinese manufacturing data dampened sentiment for the metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched down 0.45 cents to $2.9580 per lb. Overnight, China's manufacturing and non-manufacturing PMIs for February both disappointed at 49.2 and 54.3 respect...Read More
Aqua Metals Inc has signed over operational, maintenance and management services for its AquaRefining facility in McCarran, in the US state of Nevada, to Veolia North America Regeneration Services LLC, the company said.The long-term contract, which follows extensive diligence and engineering evaluations, begins next week with the goal of bringing plant operations to 16 modules of AquaRefining capa...Read More
Canada's mining sector is going through dramatic change, but the industry remains bullish on growth, KPMG International's latest Global Mining Risk Report finds.While recent merger and acquisition transactions have raised concerns about the future of Canada's mining sector, domestic firms remain optimistic about growth opportunities. Canadian stock exchanges are the global leader in mining financ...Read More
Chile's copper production fell in January as the contained copper in each mined tonne diminished - as well as the refining output altogether - during the month, national statistics institute INE said on Thursday February 28.Output for the month totaled 460,064 tonnes of cathodes, concentrates and blister. This was down by 4.5% from 481,587 tonnes in the corresponding month a year before, and down...Read More
If you're wondering why London Metal Exchange (LME) stocks of metals such as copper and zinc are so low, part of the answer lies with the current strength of Chinese imports.LME copper stocks, excluding metal awaiting load-out, currently total a meagre 21,600 tonnes, the lowest since 2005.There are just 52,650 tonnes of "live" LME zinc stocks, a level not seen this century.Lead can be added to the...Read More
Aurubis AG, Europe's biggest copper smelter, is still seeking growth via acquisitions, CEO Juergen Schachler said on Thursday."As a practically debt-free company we possess a comfortable financial scope," Schachler told shareholders in Hamburg."But we intend to undertake small or medium-sized acquisitions rather than a large transaction."Schachler repeated a previous forecast for the 2018/19 finan...Read More
On the one year anniversary of the signing of the Peru-Australia Free Trade Agreement (PAFTA), the Minerals Council of Australia issued a statement saying that the ratification of the deal is expected to deliver major investment and job opportunities for Australia's mining industry."Under PAFTA, Peru will eliminate 99.4% of its tariffs, including on valuable Australian resources such as iron ore,...Read More
Golden Share Resources (TSXV: GSH) announced this week that it has acquired the Sandridge project through map staking.The project is located approximately 150 kilometres east of Thunder Bay, in eastern Canada, and it sits on the Winston Lake Greenstone Belt, known by its initials WLGB.This is not Golden Share's first incursion in the area. The Ontario-based firm previously held the past-producing...Read More
Hong Kong Exchanges and Clearing (HKEX), owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.In its financial statement for 2018, the exchange operator recorded a revenue increase of 20% year on year at H...Read More
The London Metal Exchange has closed its market consultation on its proposed arrangements for the use of enforcement proceeds, highlighting three principal options it plans to consider. The consultation, which began in November 2018, sought the feedback of members, warehouses and other interested parties, with the bourse receiving eight formal responses in connection with the proceeds, it said in...Read More
Lead's three-month price on the London Metal Exchange climbed over 1% during morning trading on Thursday February 28, with a continued draw on European supply prompting upward price action, while trade optimism supports buying despite disappointing Chinese PMI data.This week, more than 31,000 tonnes of lead has been booked for removal out of mostly LME-listed warehouses in Europe, while the metal'...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday February 28* Copper -$196.83 (-1,318.48 yuan) Aluminium -$342.9 (-2,296.97 yuan) Zinc -$139.37 (-933.57 yuan) Nickel -$35.86 (-240.24 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 28 that are worth another look.Hong Kong Exchanges and Clearing, owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.Th...Read More