It reported a loss after tax of US$2.2 million for the three months to September 30, down from the $1.4 million loss a year ago, but an improvement on the previous quarter's loss of $3.2 million.This translated to a 0.3c loss per share, steady on the year, but an improvement on the June quarter's 0.5c/share loss.Revenue for the quarter was $9 million, 23% higher on the year and up 11% from the Jun...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedWhile there are no assays at this stage, the two widely spaced diamond holes intersected several zones of secondary copper and narrow veins starting just below surface.The company said it opened up the potential of the wider T20 project, which covers around 3350sq.km.PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limit...Read More
• On Tuesday, the precious metal faced rejection near a short-term descending trend-line, extending from over three-month tops set in October through highs touched earlier this month. • The corrective slide, however, turned out to be short-lived, with the commodity regaining positive traction on Wednesday and recovering previous session's modest...Read More
Investors should buy gold stocks and ETFs.Higher interest rates bode well for gold prices.Gold provides a hedge during the pending recession.Editor's note: Seeking Alpha is proud to welcome Daniel Maday as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to fi...Read More
Trafigura's rescue package for Nyrstar comes at a price, with the trader taking greater ownership of one of the world's largest zinc smelter's prized assets in return for helping it bridge a nine-day liquidity crunch. Nyrstar announced on Wednesday November 21 that its biggest shareholder, Trafigura, had granted it a committed working capital facility of $650 million, effective November 30. The Be...Read More
Gold is currently trading at $1,220, having clocked a high of $1,228 yesterday. The repeated failure to beat the 100-day exponential moving average (EMA) could end up killing the recovery rally from the Nov. 13 low of $1,196. Daily chart The metal created an inverted bearish hammer at the 100-day EMA yesterday, indicating a weakening of bullish pressures. 4-hour Chart Over on the 4-hour cha...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedLast week's Asia CESCO conference in Shanghai was expected to throw some light on the contradictions in the market for copper, arguably the most important metal in the global economy because of its widespread uses in everything from electronics to construction.But anyone expecting a clear picture at the event organised by a Chilean...Read More
Comex copper prices bounced back during the midweek trading session with a softer dollar and technical support boosting the red metal.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 1.20 cents to $2.7785 per lb.Prices could be volatile today with market participants sidelined due to the upcoming...Read More
World's largest miner BHP (ASX, NYSE, LON, JSE:BHP) told investors on Wednesday that it has learned from its past mistakes and is now spending its money more wisely.Explaining BHP's fresh strategy to seek growth while maintaining a healthy balance sheet, chief financial officer Peter Beaven said in a briefing the company has learned to assess both risks and returns, actively manage threats and thi...Read More
Daily PDFs will be downloadable until Thursday November 22. After that, because of a public holiday, the next daily PDF will be downloadable on Tuesday November 27, 2018. Read More
China's Belt and Road Initiative is expected to generate around 6.5 million tonnes of copper demand across more than 60 Asian and European countries over 2018-2027, according to new research from MarchWin Consulting as commissioned by the International Copper Association (ICA). The Belt and Road Initiative was first unveiled by Chinese President Xi Jinping in 2013 and aims to strengthen infrastruc...Read More
The price for rebar produced and delivered in Southern Europe widened slightly on Wednesday November 21, although consumers remained unwilling to buy large volumes because questions persist about the European Commission's import quotas.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe widened upward to ?,?530-540 ($605-616) per tonne delivered on Wednesday, from ?,?530-535...Read More
Gold prices are holding steady above the 50-day and 100-day moving averages as well as critical support sitting at $1218. This support level is based upon the .618% Fibonacci retracement level from a large data beginning in December 2016 when gold prices bottomed at $1124 per oz., up to the multi-year high that occurred $1369 per oz.Today’s uptick in Gold took it to a 2-week high and current...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday November 21, with consumers not willing to commit to purchases during a time of uncertainty in the markets.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-560 ($628-639) per tonne delivered on Wednesday, unchanged now for three weeks, after producers resisted lowering...Read More
(Kitco News) - Next year will be a turnaround year for silver, with prices expected to rally to $17 per ounce by the end of 2019 on higher investor demand and an unexpected end to the U.S. monetary policy tightening, according to Capital Economics.“Looking ahead, we think that 2019 will mark a turnaround for the silver price,” Capital Economics senior commodities economist Ross Strach...Read More
Domestic prices for steel beams in Europe were stable this week, although feedstock costs have started to fall, sources told Fastmarkets on Wednesday November 21.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-645 ($708-736) per tonne delivered on Wednesday, unchanged week on week.Fastmarkets' index for Northern European HMS...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.4% this morning, Wednesday November 21. Lead led the rebound with a 1% gain to $1,979 per tonne, while nickel was little changed and the rest were up between 0.2% and 0.3%, with copper up by 0.3% at $6,194 per tonne. Volume has been below average with 4,562 lots traded as at 7.19am London time....Read More
(Kitco News) - Gold and silver prices are moderately higher and at two-week highs in early-afternoon U.S. trading Wednesday, supported by a big rebound in crude oil prices and a weaker U.S. dollar index today. December gold futures were last up $6.80 an ounce at $1,228.00. December Comex silver was last up $0.236 at $14.505 an ounce. The U.S. dollar index trading is weaker but still not far below...Read More
Prices for hollow steel sections in Northern Europe remained unchanged this week, even as feedstock prices continued to fall, Fastmarkets heard on Wednesday November 21. Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?640-660 ($731-753) per tonne delivered on November 21, unchanged week on week.Although feedstock prices co...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