The latest metal markets news and price moves to start the North American day on Wednesday December 12.London Metal Exchange base metal prices have made a typically tentative start to trading on Wednesday December 12, with copper, aluminium and zinc all trading down against yesterday's close. Here is how the LME base metals complex looked at 11.40am London...Read More
A move above a resistance level.A bullish pattern since August but falling interest.Defying the December curse.The Fed could ignite a rally.UGLD for maximum impact on the upside.The gold market faded into the background over the past months as the price of the yellow metal broke down over the summer months and declined to its lowest level since early 2017. The strong dollar weighed on the price of...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday December 12.Base metal prices, barring those for aluminium, on the Shanghai Futures Exchange were up across the board during Asian morning trading on Wednesday December 12, with the complex continuing to find support from positive trade headlines. Check Fastmarkets MB's live futures...Read More
Canada's Harte Gold (TSX: HRT) said Wednesday it expects to begin commercial production at its Sugar Zone operation before year-end.Since landing commercial production permits from the Ontario government in September, it has been running full tilt - it poured its first gold bar in October, held the mine's official opening later that same month, and conducted its first production blast in November...Read More
Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery GCG9, -0.03% on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver SIH9, -0.24% added 22.3 cents, or 1.5%, to $14.851 an ounce....Read More
Peter KrauthAt its core, gold is two things: wealth preservation and financial insurance.So when the head of the world's biggest hedge fund recommends an allocation of 5% to 10% in gold, investors need to listen.Another respected expert on the price of gold is Ray Dalio, founder and chief investment officer at Bridgewater Associates, the world's largest hedge fund, with some $160 billion under man...Read More
Published 21 Hours AgoUpdated6 Hours AgoReuters Leonhard Foeger | ReutersGold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.Gold prices edged higher on Wednesday as the dollar slipped and expectations of U.S. interest rate hikes next year dimmed, brightening the appeal of non-interest yielding bullion.Spot gold was up 0.12 percent at $1,244.34 per ounce as of 2:07 p.m...Read More
• The prevalent USD bullish sentiment prompts some fresh selling. • Rebounding US bond yields exert additional downward pressure. • US-China trade optimism further dampens safe-haven demand. Gold reversed an early uptick to $1246 area and has now drifted into negative territory for the third consecutive session. The precio...Read More
London Metal Exchange members are considering a multitude of ways to continue to service their EU clients in the event that a financial services deal is either not forthcoming or does not go far enough when the UK finally leaves the European Union. Some companies have even told their LME sales teams they need to be prepared to move to another major European city to be able to legally service their...Read More
Kirkland Lake Gold (TSX: KL; NYSE: KL) expects production growth of 10%-15% each year over the next three years with consolidated output of 740,000-800,000 ounces of gold next year, 850,000-910,000 ounces in 2020 and 945,000-1.05 million ounces in 2021.Production growth in 2019 will be driven by its Fosterville mine in Australia, 20 km from Bendigo in the state of Victoria. Fosterville is forecas...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More
When the London Metal Exchange finished its 12-step warehouse reform package, it proved once more that you cannot please all of the people all of the time. It faced some inevitable criticism of the rules, in particular that the LME went too far in certain areas and should consider tweaking or rolling back some of its reforms. In particular, the focus of attention was on the load-in, load-out (LILO...Read More
Michael gets back to the fundamentals of gold & silver in this article, and at the end, we are rewarded with one heck of a forecast...by Michael Ballanger via Streetwise ReportsCould there have ever been constructed four finer sentences strung together for the purpose of defining eight items related to money and social standing than the following?"Gold is the money of kings. Silver is the money of...Read More
Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSMatt from Silver Fortune tells Silver Doctors why there may be a supply crisis in the future...Matt from Silver Fortune of Silver Fortune interviewed by Elijah Johnson of Silver DoctorsA large silver deposit was discovered in China recently. How does this impact the silver market?Matt says this shows...Read More
SD Midweek Update: Silver sure looks like it could break soon, and break hard. To the upside. Here are the details...I think back to my days of working for a company that ran a call center.This was just after the tech bubble burst in the early double-aughts.One day corporate came in with good news!They gathered all of us around to tell us that they weren't cutting wages!That was the good news!And...Read More
Many base projections about the market based upon recent history.Markets are not linear, so our analysis should not be.The market is providing us with signs of strong storm clouds developing over the next few years.When will the next great gold bull market begin? What's the delay?Are there 50x returns waiting at current crypto prices?The story behind the interview: Stocks (SPY), gold (GLD), an...Read More
A historic backwardation in zinc forward prices has its first major casualty, with Thailand's foremost zinc distributor set to close that part of its business as a result.Padaeng Industry, formerly a primary zinc smelter which pivoted into the renewable energy industry, will close its 50,000 tonne per year zinc metal distribution business at the end of 2018, the company said in a Stock Exchange of...Read More
A historic backwardation in zinc forward prices has its first major casualty, with Thailand's foremost zinc distributor set to close that part of its business as a result.Padaeng Industry, formerly a primary zinc smelter which pivoted into the renewable energy industry, will close its 50,000 tonne per year zinc metal distribution business at the end of 2018, the company said in a Stock Exchange of...Read More
Base metals prices on the London Metal Exchange had mostly drifted lower by the close on Wednesday December 12 but were confined to tight ranges throughout what was an unexceptional trading day.Volumes were thin while market participants slowed their trading ahead of the looming end of the year. In copper, around 10,000 lots traded by the 5pm close compared with more than 22,000 lots on Friday. Th...Read More
The launch of a high-grade iron ore derivative by the Singapore Exchange last week represents a "leap forward for the [ferrous] industry, particularly those that are exposed to the high-grade product," according to Andrew Glass, head of iron ore trading at Anglo American.SGX launched the world's first high-grade iron ore derivative contract, settled against the daily MB 65% Fe Iron Ore Index publi...Read More