LONDON (Reuters) - British Prime Minister Theresa May was fighting for survival on Friday after a draft divorce deal with the European Union provoked the resignations of senior ministers and calls for a vote of no confidence in her leadership.More than two years after the United Kingdom voted to leave the EU, it is still unclear how, on what terms or even if it will leave the EU as planned on Marc...Read More
Image: VladKK/Shutterstock.com(Kitco News) - The Swiss Federal Council is calling for more transparency when it comes to its future gold imports, citing concerns around environmental and human rights violations.“Tracing the origin of gold is essential because it alone can avoid importing gold extracted in violation of human rights,” Switzerland's executive body said in a report publish...Read More
At Fastmarkets MB's 34th International Ferro-alloys Conference in Lisbon this week, we polled delegates about their expectations for the ferro-alloys markets in 2019. How will ferro-alloy prices move in 2019 relative to 2018? After a strong year in 2018, which has included a steady increase in manganese ore prices and multi-year highs in the vanadium market, the greatest proportion of poll respond...Read More
CloseGain/LossOn WeekGold $1221.90+$8.60+0.99%Silver$14.41+$0.12+1.69%XAU66.08+1.67%+2.99%HUI148.56+1.47%+3.59%GDM539.56+1.49%+1.88%JSE Gold1121.57+12.92+2.14%USD96.44-0.61-0.47%Euro114.17+0.83+0.69%Yen88.65+0.41+0.70%Oil$56.46UNCH-6.20%10-Year3.071%-0.042-3.73%Bond139.59375+0.8125+1.25%Dow25413.22+0.49%-2.22%Nasdaq7247.87-0.15%-2.15%S&P2736.27+0.22%-1.61% The Metals: Gold jumped up to $12...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort168,416177,663122,818201,354203,177492,588503,658Change from Prior Reporting Period -72527,54819,56027,457-8,85646,29238,252Traders16895886253273202 Small Speculators (C) GoldSeek.com LongShortOpen Interest 46,93235,862539,520 -1,6836,35744,609 non reportable positionsChange f...Read More
Key Gold and Precious Metals News, Commentary and Charts This WeekGold and silver have eked out slight gains this week as stock markets came under pressure due to concerns about tech and oil sector valuations, Italian banks and political and financial turmoil due to Brexit.Gold is 0.65% higher for the week in dollars and has seen greater gains in euro (+0.8%) and the pound (+2.17%). The latter h...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can...Read More
WASHINGTON (Reuters) - U.S. manufacturing output increased for a fifth straight month in October, shrugging off a sharp decline in motor vehicle production and suggesting underlying strength in factory activity despite signs of a slowdown in the sector.The Federal Reserve said on Friday manufacturing production rose 0.3 percent last month. Data for September was revised up to show output at factor...Read More
(Reuters) - The S&P 500 edged lower on Friday as chip stocks tumbled after weak forecasts from Nvidia and Applied Materials, but a recovery in oil prices for a third day lifted energy stocks.Nvidia Corp (NVDA.O) fell 17.9 percent, leading decliners on the S&P 500, after the chip designer blamed unsold chips piling up as the cryptocurrency mining boom fizzles out.Applied Materials Inc (AMAT...Read More
The Friday Market Minute Global stocks mixed amid tech sector demand concerns, U.S.-China trade talk progress, following weaker-than-expected third quarter earnings from Nvidia.Asia stocks book modest gains as dollar softens, but Japan's Nikkei 225 slumps as chip and game stocks slide in the wake of Nvidia's gloomy Q4 outlook.Currency markets continue to gyrate following last night's 1.6% Brexit...Read More
Athabasca oil sands on the banks of the river, around 1900An alarming discount on Canadian crude has sparked calls for production cuts in the Alberta oil patch.The calls from Cenovus Energy Inc. [CVE-TSX, NYSE] and others have been sparked by the difference between the price of Western Canadian Select bitumen-blend crude and New York traded West Texas Intermediate oil.The differential between West...Read More
(Reuters) - U.S. stocks opened lower on Friday, as technology companies suffered sharp losses following disappointing forecasts from chip companies Nvidia and Applied Materials.The Dow Jones Industrial Average .DJI fell 46.92 points, or 0.19 percent, at the open to 25,242.35. The S&P 500 .SPX opened lower by 11.66 points, or 0.43 percent, at 2,718.54. The Nasdaq Composite .IXIC dropped 6...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
SINGAPORE (Reuters) - U.S. President Donald Trump didn’t make it to this week’s summit of Asian nations in Singapore, but his influence was still keenly felt among the leaders who gathered in the city.One prime minister warned that the trade war between Washington and Beijing could trigger a “domino effect” of protectionist steps by other countries. Another fretted that the...Read More
Sokoman Iron's Moosehead gold project in central Newfoundland. Source: Sokoman Iron Corp.Sokoman Iron Corp. [SIC-TSXV] shares rallied sharply Friday November 16 as the company released more drill results from its Moosehead gold project in central Newfoundland.The company said it has received assay results for five of seven holes completed to date in the property's Eastern Trend. They are part of a...Read More
* Palladium only $56 from parity with gold * GRAPHIC-2018 asset returns: (Updates prices)By Sumita Layek and Swati VermaBENGALURU, Nov 16 (Reuters) - Gold rose to a one-week highon Friday as the dollar softened, while palladium held near arecord high close to the price of bullion.The surge in palladium, used as an emissions-reducing autocatalyst for vehicles, reflected speculative buying driven by...Read More
Global ferrous scrap prices surrendered to the downward pressure created by weak mill demand and tepid finished steel sales during the working week from Monday November 12 to Friday November 16, with the exception of those in India.Turkish import scrap prices fell, with only four cargo bookings made during the week. Import prices in Taiwan and Vietnam also continued to trend downward. India's impo...Read More
NEW DELHI/SHANGHAI, Nov 16 (Reuters) - India's Vedanta Ltd has been selling copper concentrate on the spot marketfrom stockpiles at its Sterlite smelter, a company officialsaid, after the facility was forced to stop operating earlierthis year amid pollution concerns.The company is disposing of around 70,000 tonnes of copperconcentrate that have been lying unused since the closure of theplant, the...Read More
The head of the International Monetary Fund believes it's time for global central banks to explore the idea of a state-backed digital currency. "I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy," said Christine Lagarde in prepared remarks for delivery Wednesday local time at the Singapore Fintech Festi...Read More
[Editor’s Note: This story was originally published March 2018. It has since been republished and updated to reflect new information in the fast-paced marijuana industry.]While it’s open to debate whether President Donald Trump made America great, the 2016 election did produce one undeniable result: it laid the foundation for cannabis-related businesses, thereby dramatically improving...Read More