* Lead rebounds to Sept. 10 high* GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl (Adds closing prices)By Zandi ShabalalaLONDON, Oct 15 (Reuters) - Lead jumped to its highest in six weeks on Monday, helped by a weaker dollar and falling inventories, but U.S-China trade tensions kept pressure on most metals.Benchmark lead ended 1.6 percent higher at $2,085 per tonne, after touching its highest sinc...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
The gold and silver futures markets got even more unbalanced last week, with speculators (who are usually wrong at the extremes) going as short as they've ever been and commercials going even more long. Here's the gold data in chart form:These are historically huge imbalances that - if the action in the paper markets still has predictive value - point to a gold short squeeze in which the speculato...Read More
(Kitco News) - Gold prices are holding good gains and scored a 10-week high in early U.S. trading Monday.Some more safe-haven demand, technical buying and short covering are boostingthe yellow metal. December gold futures were last up $11.90 an ounce at $1,234.00.December Comex silver was last up $0.135 at $14.77 an ounce. Globalstock markets were mostly lower overnight. U.S. stock indexes are po...Read More
Bismuth prices were under pressure in Europe in the week ended Friday October 12, with prices reaching their lowest level so far this year on surplus production and weak demand. Fastmarkets MB assessed the European bismuth price at $3.90-4.40 per lb on Friday October 12, down by $1.20 on the low end of the range from Wednesday's assessment. Abundant supply and a lack of sufficient demand to a...Read More
NEW YORK (Reuters) - A sharp pullback in stocks last week, including the S&P 500's .SPX biggest single-day drop since a market correction in February, has left investors questioning whether this could signal danger for the longest-ever bull run for U.S. equities.The following are five arguments on either side of the debate:REASONS TO BE BULLISHPROFITS, PROFITS, PROFITS: Strong growth in U.S....Read More
* Holdings in SPDR Gold Trust on the rise * European shares slide to 22-month low * Platinum hits highest in more than three months (Updates comments and prices)By Sumita LayekBENGALURU, Oct 15 (Reuters) - Gold rose more than 1 percenton Monday to its highest in about 2-1/2 months as investorssought refuge in the metal after mounting tensions betweenWestern powers and Saudi Arabia compounded jitte...Read More
The Chinese silicon export price moved up following a series of domestic ex-works deals since mid-September, while in the US the price fell for the seventh consecutive month.The Chinese grade 553 silicon export price was assessed at $1,660-1,730 per tonne on Friday October 12, up 0.6% from $1,650-1,720 per tonne previously. Domestic Chinese ex-works prices have been rising since mid-September, whi...Read More
The Del Toro silver mine in Mexico. Source: First Majestic Silver Corp.First Majestic Silver Corp. [FR-TSX; AG-NYSE; FMV-FSE] on Monday October 15 said production in the third quarter of 2018 reached a new company record of 6.7 million silver equivalent ounces.Total production consisted of 3.5 million ounces of silver, 35,260 ounces of gold, 4.4 million pounds of lead and 1.2 million pounds of zin...Read More
LONDON (Reuters) - Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook.Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before giving up its gains to trade around $80.38, down 5 cents, by 1345 GMT. U.S. crude was down 5 cents at $71.29.“Growing tension...Read More
The Turkish deep-sea scrap market was silent on Monday October 15, with market participants waiting to see if an improved Turkish lira will help boost prices.The Turkish lira has picked up since the country freed the American evangelical pastor Andrew Brunson on Friday afternoon, whose detention over his alleged links to proscribed political groups resulted in political tension with the United Sta...Read More
(Reuters) - U.S. stocks were set to open slightly lower on Monday, mirroring global stocks, after growing tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of tariffs as the earnings season kicks into gear.Bank of America (BAC.N) rose 0.91 percent in premarket trading after the second-largest U.S. lender’s profit rose more than expec...Read More
Turkish domestic scrap prices have fallen over the past week because the country's lira has started to regain some of its former value, sources said on Monday October 15.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,850-2,040 ($315-347) per tonne delivered on Monday, compared with last week's TRY1,900-2,040 per tonne.The rise in the assessment came after s...Read More
Copper-silver mineralization at the Bankers Cobalt Kamanjab Project in Namibia. Source: Bankers Cobalt Corp.Bankers Cobalt Corp. [BANC-TSXV, BC2-FSE] said Monday October 15 that it has established a confidential virtual data room to provide access for parties who have approached the company or expressed an interest in reviewing data on Bankers and its concessions."We have completed a significant a...Read More
The Monday Market Minute Global stocks weaken as geopolitical and trade tensions keep investors cautious following last week's selling on Wall Street.Saudi Arabia has vowed to react to any punishment meted out following the disappearance of prominent journalist Jamal Khashoggi in Turkey last week.Japanese stocks tumble amid concern the U.S. could use currency manipulation rules in future trade a...Read More
Comex copper prices rose to a multi-week high in morning trading on Monday October 15 amid a weaker dollar and optimism from LME Week in London last week. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 3.00 cents to $2.83 per lb - the highest since October 4. While the rest of the complex...Read More
First Cobalt Corp is in discussions with various feedstock suppliers and potential offtake parties who could finance an eventual restart of its cobalt refining facility in Ontario, Canada. The base case scenario would see the refinery resume operations at 24 tonnes per day, the company said, with production of cobalt sulfate for the lithium-ion battery market or cobalt metal for the US aerospace i...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday said he has spoken with Saudi Arabia’s King Salman about missing Saudi journalist Jamal Khashoggi, and that he was sending U.S. Secretary of State Mike Pompeo to meet with the king immediately.Trump also said Salman denied “any knowledge of whatever may have happened” to Khashoggi, who disappeared after he went to the S...Read More
* European stocks hit 22-month low, Wall Street futures flat * China and Japan stocks tumble in tough start to week forAsia * Oil climbs as fate of missing journalist impacts Saudirelations * Yen, Swiss franc, gold, bunds among safe havens to shine * Sterling recovers from latest Brexit wobbleBy Marc JonesLONDON, Oct 15 (Reuters) - World markets turned tail againon Monday, as a bounceback in oil p...Read More
The price of gold is acting... normal.And that's actually surprising to see.For the gold market, "normal" hasn't been... well, normal. Gold is traditionally a safe haven asset used to hedge economic and market risk. Demand and prices traditionally increase in times of fiscal turmoil. But this has not largely been the case for the past decade.Since the turn of the century, the gold market has dynam...Read More