European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday November 28, with consumer buying firmly limited to small, near-term business.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($611-634) per tonne delivered on Wednesday.Cost pressures have been...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The latest news and price moves to start the Asian day on Thursday November 29.Base metal prices were resurgent on the London Metal Exchange on Wednesday November 28, with prices for the entire complex closing higher compared with the previous day. Read more in our live futures report.Here are how prices looked at the close of trading:Turkish long steel producer Ko?? Metalurji intends to halt...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 28. Base metal prices on the London Metal Exchange rebounded in morning trading on Wednesday after having suffered heavy losses at the start of the week. Aluminium prices, meanwhile, have failed to be spurred by the news...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 28.Base metals on the Shanghai Futures Exchange continued to be pressured by a strong dollar during Asian morning trading on Wednesday, with limited price movements recorded across most of the complex as a result. Check Fastmarkets MB's live futures report here.The looming b...Read More
Falyn Page| @falynspagePublished 22 Hours AgoUpdated4 Hours AgoCNBC.com Gold jumped from near a two-week low on Wednesday after U.S. Federal Reserve Chair Jerome Powell said interest rates were "just below" neutral, soothing investor worries over the pace of rate hikes.U.S. gold futures settled up $10.20, or 0.8 percent, at $1,223.60."Interest rates are still low by historical standards, and they...Read More
The yellow metal rose $10 in a few minutes boosted by a decline of the US dollar. Federal Reserve Chairman Powell mentioned the policy rate is just below neutral. Gold prices jumped following the release of Fed’s Chairman Powell speech that pushed the greenback sharply to the downside. The metal was moving in a small range between $1211 and $1215 and broke dramatically to the upside....Read More
Shares in Condor Gold (LON:CNR) jumped Wednesday after the miner announced it had extended known targets and discovered new high-grade vein systems at its La India project in Nicaragua.The company said it was working to prove a 5-million-ounce gold district, adding it had already applied to the Ministry of Energy and Mines for two adjacent concessions that will expand the La India land package f...Read More
Gold is stable since the start of November.Speculators have a weaker conviction in gold prices, the CFTC shows.ETF investors continue to accumulate gold, albeit at a small pace, according to Fastmarkets.Despite a stronger dollar and higher US real rates, gold demand is positive due to higher vol in risk assets.I expect gold prices to remain in an uptrend. Conviction, Stella Kisstiger (Saatchi Art)...Read More
Gold, silver and mining stocks declined in a quite visible way yesterday, which is in tune with our previous expectations. In the previous days it was only silver and miners that declined in a meaningful manner, but yesterday gold joined them, making this a sector-wide decline. Is this the groundbreaking decline that we have been writing about for so long? Time will tell, but the earth is already...Read More
Emgold Mining (TSXV: EMR) just signed an agreement to sell its 100%-owned Troilus North property to Troilus Gold (TSE: TLG) for 3,750,000 Troilus Gold common shares and C$250,000 in cash.The sale is expected to be finalized the first week of December and upon its completion, Emgold will keep approximately 7.1% of Troilus Gold's issued and outstanding share capital."Emgold is very excited to have b...Read More
• The precious metal continued with its struggle to register any meaningful recovery and was seen oscillating in a narrow trading band, forming a rectangle on the 1-hourly chart. • Given the overnight bearish breakthrough the $1220 important horizontal support, the rectangle would be categorized as a continuation pattern that marks a pause in the tre...Read More
Philipp Schl? 1/4 ter has become chief executive officer of Trimet Aluminium, the company said on Monday November 26. "Philipp Schl? 1/4 ter will be moving from the supervisory board to the executive management of the company and become the CEO of Trimet Aluminium SE," chairman Thomas Ludwig...Read More
Gold: 4H: It looks like the corrective move is still continuing as a Triple Zig Zag corrective structure to the upside with the current Price Action in the second W.x which is either still continuing as a Triangle or already complete.Strategy: In either case (Continuation or already complete W.x) we look to initiate longs with SL below W.x low and targets above 1243. The author or any p...Read More
Investing.com - Gold prices were virtually flat on Wednesday morning trade in Asia, with little investor activity and no clear catalysts to drive prices in either direction.Gold futures for February delivery were up 0.1% to $1,221.10 by 10:15PM ET (03:13AM GMT) on the Comex commodity exchange.Gold has been moving for almost two weeks within a relatively narrow range within a few dollars in either...Read More
A plunge in silico-manganese futures prices on the Zhengzhou Commodity Exchange (ZCE) at the start of this week was driven by weakness in China's steel market, market participants told Fastmarkets. On Monday November 26, trading was suspended for the ZCE's most-traded January silico-manganese futures contract after the price of the contract plunged by 7.1% from the previous trading day's close. Th...Read More
Fed Chair Jerome Powell gave a speech today, and he came out sounding like a dove. Gold & silver spiked as a result. Here's Matt with the details...by Matt from Silver Fortune via Silver FortuneAs predicted by many (including your's truly), the Fed is pivoting to a more dovish stance. The move in metals today was relatively small, but it could be the beginning of a big move up. Read More
Think silver is dead? Steve St. Angelo shows that not only is silver not dead, but investment demand has grown more than other types of demand...by Steve St. Angelo of SRSrocco ReportEven though interest in precious metals has fallen over the past few years, investment demand is still the largest growth sector in the silver market. Yes, it may be hard to believe, but physical silver investment h...Read More
SD Midweek Update: The "markets" performed as expected coming into Wednesday, but we could see totally different "markets" by week's end. Here's why...On Monday I felt pretty confident that we would see the stock market bounce.That is exactly what we see:In my opinion, we are witnessing a short-squeeze induced dead cat bounce. The 50-day moving average is quickly closing in on the 200-day, and we...Read More
The charts still seem like the metals want to run higher, and especially with silver, the downside pattern is really full. Here are the details...by Avi Gilburt of Elliott Wave TraderFirst published Sat Nov 24 for members: Since I put out my last update on Thursday morning, I cannot say much has really changed. So, I am going to re-print my update here, and add a few new comments below:I am st...Read More