Gold Daily Gold prices are coiling above October’s high. The trend remains firmly bullish within an ascending channel. A break above 1250.63 confirms a bullish breakout, a counter-trend break of 1241.11 warns of a deeper correction. Silver Daily Silver remains in a sideways range, but a clear break above 14.91- 15.00 confirms a double bottom. Range trading strategies are...Read More
In this video Dave Lerman, Director of Education at CME Group, discusses the benefits of trading gold futures vs. ETFs or the OTC market. Learn more: https://institute.cmegroup.com/ Follow us: Twitter: https://twitter.com/CMEActiveTraderFacebook: http://www.facebook.com/CMEGroup CME Group is the world's leading and most diverse derivatives marketplace, offering the widest range of global ben...Read More
• US-China trade optimism dampens the commodity’s safe-haven demand. • The ongoing USD slide/fading Fed rate hike expectations help limit downside. Gold prices edged lower on Thursday but remained well within a narrow trading band, held over the past three sessions. Signs of easing US-China trade tensions continued denting the precious metal'...Read More
Zero. The US inflation rate was unchanged in November. What does the flat CPI mean for the gold market? What Happened With Inflation? The CPI was unchanged in November, following an increase of 0.3 percent in October. It was the weakest numbersince March 2018, when monthly inflation fell about 0.1 percent. However, the flat reading was caused by a sharp decline in the price of gasoline &ndas...Read More
Since its merger with Xstrata, Glencore - previously a trading and marketing firm - has become a mining firm whose earnings before interest, taxes, depreciation and amortization is dominated by earnings from its industrial activities. The recent appointment of Peter Freyberg as head of the company's industrial mining assets, a newly created position with oversight and responsibility for all Glenco...Read More
While a rate hike is likely to happen at the next Federal Reserve Meeting next week, a more dovish tone is expected in 2019, said Peter Hug, global trading director of Kitco Metals. We think the Fed is going to back off in 2019 and it appears that a lot of analysts are indicating that the Fed is going to be much more dovish coming into 2019, "We think the Fed is going to back off in 2019 and it...Read More
The above chart shows hourly price action. Key support is potentially at the confluence of factors including the S1 pivot level, the 61.8% Fibonacci retracement levels and price congestion support (green rectangle). The stochastic is also at buyer friendly levels (green ellipse). A pullback in XAUUSD may provide a “buy the dip in an uptrend” opportunity. Note: All informatio...Read More
Published 21 Hours AgoUpdated6 Hours AgoReuters Gold eased to its lowest in nearly one week on Thursday as the dollar rose and investors latched on to gains in global stocks, while palladium touched record highs on expectations of higher demand.Spot gold eased 0.21 percent to $1,242.74 per ounce at 11:21 a.m. EST (1621 GMT), while U.S. gold futures settled at $1,247.40 per ounce, down $2.60.The do...Read More
Gold has created a classic bull flag - a continuation pattern - on the 4-hour chart. A convincing break above $1,248 (upper end of the flag) would signal a continuation of the rally from the low of $1,216 and would open the doors to $1,280 (target as per the measured height method - pole height added to breakout price). That target may not look feasible for now. That said, the flag breakout...Read More
Gold is, without a doubt, the most controversial asset class.However, efficient frontier models show that gold wins portfolio allocations for far greater amounts than the naive expectation would be.Gold holds key investment advantages over other commodities. Additionally, gold shows a positive skew in returns, meaning it tends to "melt up" rather than crash to the downside like equities....Read More
Comex copper prices moved higher on the morning of Thursday December 13 in the United States, with easing global trade tensions providing a boost to risk appetite.The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 0.90 cents to $2.7790 per lb.Worries that the trade war between the US and China will only escalate in 2019 have softened in recent we...Read More
China's hot-rolled coil prices continued to rise on Thursday December 13 on strong gains in the futures market.DomesticEastern China (Shanghai): 3,770-3,800 yuan ($547-552) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, up 20 yuan per tonneA Hangzhou-based source told Fastmarkets MB that a few traders bought HRC from the spot market on seeing the surge in t...Read More
London Metal Exchange base metal prices are broadly higher on Thursday December 13 due to good signals from China-US trade tensions, with the three-month zinc price leading the complex due to historic low inventories."More positive steps from China on trade seem to be easing some of the concerns in the market, although traders are probably nervous that any positivity could be unwound with one pres...Read More
Indonesian nickel mining group Silkroad Nickel (SGX: STP) has announced that its subsidiary, PT Teknik Alum Service, entered into a new long-term offtake agreement with PT TBR to supply 15 million tonnes of nickel ore over a period of five to eight years, beginning March 2020.The total contract value of the agreement is estimated to be in excess of $290 million.PT TBR is part of the Qingdao Hengsh...Read More
OK2 Minerals (TSXV: OK) entered into an arms-length definitive agreement with EMX Royalty (TSXV: EMX) to acquire the past-producing Bleikvassli Cu-Zn-Ag-Pb-Au Mine, and the Sagvoll and Mer??ker Zn-Cu projects, all located in Norway, as well as the advanced-stage Bastutr??sk Zn-Cu-Au project in Sweden.In a press release, the Vancouver-based miner said that together with the acquisition, it will und...Read More
Three unions at Codelco's Chuquicamata mine downed tools late Wednesday and blocked access to the century-old operation, claiming that the Chilean copper miner has been violating agreements with workers and threatening union leaders.A spokeswoman for the company, the world's No. 1 copper producer, told MINING.com the mine was operating normally, adding that the blockage has not prevented workers f...Read More
Dealers and jewelers optimistic for last-minute holiday sales. Multi-channeldigital and experiential retail are key themes this season, with rising numberof pop-up stores and webrooms. Trade shifting east, with improving Chinese NewYear demand. Some caution for 2019 as US-China trade war, volatile stock marketand higher interest rates could impact consumer sentiment. Prices of 0.30 ct.diamonds pre...Read More
RAPAPORT... De Beers is planning to loosen its source-disclosure restrictions for sightholders following requests for increased transparency, Rapaport News has learned.The company consulted with clients during this week's sightin Botswana, proposing to let them refer to its supply as "DTC diamonds" whenthey sell the goods further along the pipeline, a company spokespersonconfirmed. De Beers w...Read More
Cautious sentiment as trading slows ahead of theChristmas break. Fewer foreign buyers in the market. Demand concentrated onSI-I1 goods. Rough market restrained as manufacturers are holding largepolished inventory, particularly lower-value goods. Small diamond and jewelry businesses under stress due toweaker rupee, tight credit and low profit margins. POLISHED:Read More
De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said.A spokesman for De Beers, an Anglo American unit, said in an email it was not mining in Zimbabwe and did not intend to. Vast Resources said it could not comment.Zimbabwe has been working t...Read More