Gilts are on a tear as investors escape U.K. stocks and the pound. But a no-deal Brexit or a Corbyn government would soon change their status.By Mark Gilbert and Marcus Ashworth (via Bloomberg.com)British investors have been fleeing their domestic stock market in droves all year, and everyone and their dog lined up to sell sterling on Thursday as the tally of resignations from Theresa May's...Read More
Thanksgiving week has been marked by abrupt moves and long-term trend changing moves in metals and energies. This has happened most of the time (not all of the time) over the past fifteen years. I will prefer to be cautious in metals, natural gas and the US dollar Index this week. Technicals are fine but one should see signs of a trend changing technically. Global stocks could sink once again...Read More
Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 while supply disruptions from Indonesia are helping boost tin back towards $20,000 per tonne.Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 amid continued pressure from global trade tensions, while persistent supply disruptions from Indone...Read More
CloseGain/LossGold $1223.20+$1.30Silver$14.42+$0.01XAU65.70-0.57%HUI148.27-0.19%GDM539.96+0.11%JSE Gold1141.62+20.05USD96.21-0.23Euro114.50+0.33Yen88.76+0.11Oil$56.76+$0.3010-Year3.053%-0.018T-Bond139.8125+0.25Dow25017.44-1.56%Nasdaq7028.48-3.03%S&P2690.73-1.66% The Metals: Gold fell $3.80 to $1218.10 in Asia, but it then rallied back higher in London and New York and end...Read More
Key data from the pricing sessions in Shanghai, New York and London in the week ending on Friday November 16.China The export price for grade-553 silicon in China continued to drop due to thin spot inquiries amid weak demand. Rising cargoes at major ports in China added to the additional downward pressure on the price. Market participants have suggested that demand will resume in...Read More
The market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has remained weak despite mill expectations of an improvement in demand after an explosion at Kazakhstan's ArcelorMittal Temirtau. ArcelorMittal Temirtau, which is is the largest supplier of imported flat steel products in Russia, partly suspended operations on Saturday November 10&nb...Read More
The latest news and price moves to start the Asian day on Tuesday November 20.Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 while supply disruptions from Indonesia are helping boost tin prices back toward $20,000 per tonne. Read more here in our live futures report.Here is how prices looked at the close of trading:Unwavering demand for...Read More
The latest metal markets news and price moves to start the North American day on Monday November 19. Base metals prices on the London Metal Exchange were mostly higher during morning trading despite hawkish rhetoric on the US-China trade relations while a softer dollar index continues to support investment. Here's how base metals prices looked at 11:33am London time:Read our live futures report he...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday November 19.Base metal prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Monday, supported by a retreat in the dollar following dovish rhetoric from the United States Federal Reserve at the end of last week. At 96.44 as at 10.02am Shanghai...Read More
Peter KrauthJust when it looked like the price of gold was going to retest its lows of October and maybe even September, the metal put on a bold rally.After marking an intraday low of $1,196 on Tuesday, Nov. 13, gold prices took one more day to consolidate near those lows.Since then, the price of gold has rallied and so far maintained a healthier level near $1,220. The run happened as stocks conti...Read More
Strong words, aren't they? And yet, we are not afraid to put them right in the title. The number of factors (and their importance) that point to a nearby reversal and continuation of the major decline is too significant to believe in the bullish case, even though gold, silver, and mining stocks moved higher in the last few days. We emphasized it many times and we will continue to do so, as it&...Read More
The Brexit uncertainty sparked a flight to safety on Friday. Safe haven currencies, the yen, and the Swiss franc were bid higher. Dovish comments from Fed officials, Clarida, and Harker who expressed some doubt about the December rate hike kept the U.S. Dollar's rally in check. Gold prices also advanced strongly on the day as investors' risk appetite waned on renewed concerns that the UK a...Read More
• Struggles to build on last week’s goodish rebound, despite a subdued USD demand. • Bullish traders also seemed rather unaffected by fading US-China trade optimism. Gold came under some fresh selling pressure at the start of a new trading week and eroded a part of Friday's strong up-move to over one-week tops. The Fed Vice Chairman Ri...Read More
Gold futures settled at a more than one-week high on Monday, with geopolitical uncertainty helping the precious metal tally a fourth straight session gain. "The fact that investors have revisited gold as a major safe haven will keep it to top of mind as the year ends," said Alfonso Esparza, senior market analyst at Oanda. "The U.S. dollar has appreciated against all major pairs year to date but as...Read More
Researchers at Ruhr-Universit??t Bochum and the University of Wuppertal in Germany have come up with a new fabrication process for transparent ultra-thin silver films. The new process produces a material capable of increasing the efficiency of solar cells and light-emitting diodes.Up till now, traditional chemical methods have not been able to produce ultra-thin and pure silver films, the scientis...Read More
Ross Miles has joined Viant Commodities as a trader based in London after leaving Kyen Resources following the latter's recent financial troubles. According to Miles' LinkedIn account, he left his role as head of European metals and global recycled metals in September this year. He had worked at Kyen...Read More
The $14-$15 trading range gives way to a lower low.Silver never followed gold on the upside and did damage on the downside.The dollar and interest rates could encourage trend-following shorts to push silver lower.The line in the sand is not far from the current price.DSLV could pay off if the bottom falls out in the silver market.Silver has been a disappointment in the world of precious metals. Wh...Read More
Gold is rolling sideways below the 100-day exponential moving average (EMA) amid heightened US-China trade tensions. The metal could move past the EMA hurdle if the 10-year treasury yield drops below 3.057 percent, confirming a double top breakdown. Gold is flat lined below the 100-day EMA of $1,224 in Asia, having failed to take out that hurdle on Friday, despite the weakness in the US dollar....Read More
SD Outlook: Thanks cartel for gifting stackers with physical silver that hasn't been this cheap in four years. Here's the outlook for Thanksgiving week...This Thursday is Thanksgiving.Happy Thanksgiving in advance.I'm thankful for many things, and while I won't go down my list, I will say one group that is on it - the cartel.By continuing to beat the snot out of silver and gold, they have allowed...Read More
Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 while supply disruptions from Indonesia are helping boost tin back towards $20,000 per tonne.Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 amid continued pressure from global trade tensions, while persistent supply disruptions from Indone...Read More