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
The scope of work to be carried out by Thiess includes overburden removal and haulage, coal mining and run of mine rehandling services, equipment maintenance and pit dewatering.This new contract is in addition to Thiess's existing scope of work for provisioning and maintenance of Coronado's electric shovel and supply of an ultra-class truck fleet.Coronado CEO Gerry Spindler said the new contract e...Read More
The Western Australia-based company is looking to build visibility around growth revenues and earnings from new mine-production products, which would complement its existing exploration and production drilling consumables and technology businesses."A successful commercialisation of IMD's proprietary multi-sensor BlastDog in [the second half of this fiscal year] would represent a significant divers...Read More
Nickel mining operations across four unspecified sites in the Philippines' Tawi-Tawi region will be halted indefinitely to facilitate the implementation of the country's Bangsamoro Responsible Mining law, Environment, Natural Resources and Energy Minister Abdulraof Abdul Macacua said on Monday September 16. The suspension will further reduce the country's declining nickel output, which fell by 16....Read More
Key data from the pricing sessions in New York, London and Shanghai in the week ending Friday September 13.United StatesKey drivers Spot silicon fell below $1 per lb on the low end for the first time in three years in the United States, on excess supply and the undercutting of domestic material by overseas suppliers.Consumers are themselves said...Read More
StrengthsThe best performing metal this week was palladium, up 4.41 percent. Central banks continue to stock up on gold - led by Russia, the world's top buyer for seven consecutive years. Russia's central bank quadrupled its gold holdings in the last decade and has diversified away from U.S. assets. According to Bloomberg, the value of the nation's gold surged 42 percent in the past year to $1...Read More
For a rare change, global markets seem genuinely concerned about the news. A drone attack by Iran over the weekend knocked out more than half of Saudi Arabia's refining capacity, amounting to roughly five percent of global supply. Fox and other news outlets underplayed the story initially, putting it beneath the latest sex charges against Kavanaugh. But the Saudi story shot up to the top of the...Read More
Please Listen HereInterview Recap.ONEGOLD Inc. holds physical gold and silver metals at the Royal Canadian Mint through our friends at APMEX and Sprott Inc. The first online marketplace to offer secure and convenient buying, selling and redemption of digital PMs. ONEGOLD uses VaultChain, a secure, immutable blockchain ledger from Tradewind Markets, the leading innovator in digital precious m...Read More
By: Ira EpsteinBonds also a crowded trade. Gold weekly chart has not taken out any important lows..Read More
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
The Turkish steel producers went quiet in the deep-sea scrap markets at the beginning of the current week, digesting the latest cargo transacted from the United States, sources said on Monday September 16.A steel mill in the Izmir region booked a US cargo at the end of last week, comprising 15,000 tonnes of HMS 1&2 (80:20) at $240 per tonne, 15,000 tonnes of shredded at $245 per tonne and 2,000 to...Read More
Turkish domestic scrap prices have gone down over the past seven days on weakening imported scrap values, sources said on Monday September 16.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,400-1,575 ($245-276) per tonne on Monday, down from last week's TRY1,445-1,650 per tonne.Steel mills and a major scrapyard have decreased their buy...Read More
Over the past week the metals have looked stronger and some dovish comments by United States President Donald Trump over US-China trade relations seem to have provided a slight confidence boost, but headwinds are being felt this morning, Monday September 16.An 11% rise in crude oil prices this morning following an attack on a Saudi Arabian oil refinery, combined with weak Chinese industrial produc...Read More
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
Early-rising traders woke up to see oil prices screaming 10% higher as the market digested news of drone attacks on Saudi Arabia's oil production so crippling they're already being called a "Pearl Harbor moment."Bloomberg reports:Based on early reports, multiple relatively inexpensive drone devices were able to pierce Saudi defenses in a way that a traditional air force could not: flying long dist...Read More
Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) continued to fall last week on low demand and soft scrap prices, sources told Fastmarkets on Monday September 16.HRC exportsFastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $455-465 per tonne on September 13, down by $5 per tonne week on week.Some buyers in the EU have been cautious about making...Read More
Asia's hot-rolled coil markets are now seeking bright spots after price falls in the region eased.Prices have rebounded in the past week in the key regional market China of while the monsoon season in India is approaching its end."It is possible that the price drops have stopped and the bottom has been reached," a buyer source in Vietnam told Fastmarkets on Friday September 13.Supply of Indian HRC...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index jumped 17.8 points or 1.6% to 1130.90. That brings the INK CIN a torrid 3 week gain of about 60 points or 6.5%.MACD added 0.04 points to move to 5.58. RSI increased 7.73 points or 13% to 68.21.Support moves up to 1105 (200-day moving average) and...Read More
Argentina's domestic steel product prices were steady again in September, and sellers have been reducing payment periods to compensate for political instability and currency volatility in the country.Fastmarkets' monthly assessment for steel hot-rolled coil domestic, exw Argentina, was at $720-725 per tonne on Friday September 13, unchanged since May.The monthly assessment for steel cold-roll...Read More
Special bar quality (SBQ) prices in the United States declined after ferrous scrap costs dropped in September while demand remained muted. Plentiful inventory and weak end-use markets including the domestic oil-and-gas industry and automakers ensured that SBQ producers could not sustain August prices, according to market participants. "The market is languishing," a mill source said. Fast...Read More
Bargain-hunting buyers in Singapore buyers are indeed turning to Turkish rebar after prices for ferrous scrap in Turkey fell to their lowest in close to three years over the past week.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $440-450 per tonne for the week...Read More