Gold proved that $1,180 was agreat support level and now is trying to confirm a higher low at $1,220. Thebreakout through the $1,220 level was a classic blow-off trade -- continuedfailure at a level and then an explosion through as we saw on Oct. 11.After making higher lows, whichset up the big move higher, gold is repeating that same pattern, and ourexpectations are to see the pattern repeat. Blo...Read More
Thursday's declines add to the market's steep losses for the month. The Dow and S&P 500 have fallen more than 4 percent each, while the Nasdaq is down nearly 7 percent in October.Among the reasons for selling on Thursday, according to investors, were worries about the U.S.-China trade war, rising interest rates and lingering worries about possible overvalued U.S. tech stocks.Fred Imbert| @foim...Read More
Vanadium trade log including business, bids and offers reported to Fastmarkets MB.To view the latest price quotations, click the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Wednesday October 17Ferro-vanadium - Prices indicated at...Read More
MEMPHIS, Tenn. (Reuters) - The Federal Reserve’s most recent interest rate increase put monetary policy about where it should be, with no further hikes required in an economy where inflation remains weak, St. Louis Fed President James Bullard said on Thursday, pressing an argument he has made over the past two years.“The current level of the policy rate is about right,” Bullard s...Read More
(Kitco News) - Gold remained roughly steady Thursday after Labor Department datashowed that initial weekly U.S. jobless claims fell by 5,000 to aseasonally adjusted 210,000 in the week to Saturday. Comex December gold was last up 60 cents to$1,228 an ounce.Consensus expectations compiled by various news organizations hadcalled for initial claims to be around 210,000 to 215,000. The gover...Read More
(Kitco News) - Gold prices aretrading near unchanged in early U.S. trading Thursday. This week's pause, orsideways trading on the daily chart, is normal given the solid gains scoredlast week. Bulls appear to be readying for their next upside advance. December goldfutures were last up $0.40 an ounce at $1,227.90. December Comex silver waslast down $0.103 at $14.56 an ounce. Globalstock markets were...Read More
CloseGain/LossGold $1225.10+$1.30Silver$14.57-$0.06XAU70.05+0.28%HUI155.48+0.16%GDM556.39+0.27%JSE Gold1198.81+8.42USD95.97+0.39Euro114.59-0.46Yen89.37+0.02Oil$68.65-$1.1010-Year3.182%-0.009T-Bond138.00+0.09375Dow25379.45-1.27%Nasdaq7485.14-2.06%S&P2768.78-1.44% The Metals: Gold dipped $5.10 to $1218.70 in Asia, but it then chopped back higher in London and New York and ended not far from...Read More
- Do you own gold in the safest way possible?- Do you own gold via an exchange traded fund, a digital gold provider or another form of pooled gold?- Have you ever thought about how you would sell or access your gold if the internet went down or if your gold provider became compromised or un-contactable?- In this episode of the Goldnomics Podcast, we discuss how Direct Access Gold ensures liqu...Read More
* Pound at 10-day low after May comments on Irish border * Retail sales weaker than expected, also weigh on currency * Graphic: World FX rates in 2018* Graphic: Trade-weighted sterling since Brexit vote (Writes through after May comments, updates prices)LONDON, Oct 18 (Reuters) - The pound fell to intraday lowsin late Thursday trade, as summit talks in Brussels failed toresolve a Brexit standoff b...Read More
* Report says nickel pig iron output is rising in China * Copper dips to one-week low * Zinc only metal in positive territory on stocks fall(Updates with closing prices, adds nickel balance data)By Eric OnstadLONDON, Oct 18 (Reuters) - Nickel hit a one-month low onThursday, with copper and lead prices also in the red, asinvestors worried about Chinese growth and higher U.S. interestrates.Zinc, mea...Read More
WASHINGTON (Reuters) - The U.S. government on Wednesday refrained from naming China or any other trading partner as a currency manipulator, as it leans on import tariffs to try to cut a trade deficit with China.In its semi-annual currency report, the U.S. Treasury Department said a recent depreciation of China’s yuan currency will likely exacerbate the U.S. trade deficit, but U.S. officials...Read More
Vale's cobalt production fell 31% in the third quarter of 2018 mainly due to decreased output from its Sudbury and Voisey's Bay operations. Vale produced 1,028 tonnes of cobalt in the three months to the end of September compared with 1,489 tonnes in the same quarter of 2017. A 22.5% fall in third-quarter production from Voisey's Bay to 371 tonnes from the previous quarter was caused by scheduled...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
Ningxia Tianyuan, the world's largest manganese flake producer, is expected to resume production at its 800,000-tonne-per-year capacity site in December, sources told Fastmarkets MB. The company is currently operating at a reduced capacity of 600,000 tpy after it suspended one of its production lines in May, according to the sources. Ningxia Tianyuan, which accounts for around 40% of global mangan...Read More
Ah, Saudi Arabia, land of heat and contradictions. One day they're jailing women's rights activists for wanting to drive, the next day they're dismembering still-living Washington Post journalists. And yet they can count the world's capitalist democracies as friends, because today's dysfunctional economic/geopolitical system depends on both Saudi oil and Saudi willingness to keep their (apparently...Read More
The Turkish deep-sea scrap market showed signs of renewed activity on Thursday October 18, with prices being pushed upward by rumors of a new cargo booking.So far this week, no deep-sea cargo bookings have been heard, but rumors of a European cargo being sold were circulating on the market today. But the details began to emerge...Read More
NEW YORK (Reuters) - The U.S. dollar index traded near one-week highs on Thursday as Treasury yields edged higher, after minutes from the Federal Reserve’s September meeting showed that Fed policy makers are largely united on the need to raise borrowing costs further.That came despite U.S. President Donald Trump’s view that interest rate hikes have already gone too far.Benchmark 10-yea...Read More
Garibaldi Resources' land position in the Golden Triangle region of northwestern British Columbia. Source: Garibaldi Resources.Garibaldi Resources [GGI-TSXV; GGIFF-OTC] reports that the continuing drill program at Nickel Mountain in the Golden Triangle region of northwest British Columbia, combined with surface sampling of new massive sulphide outcrops exposed by melting ice and snow, has confirme...Read More
MOSCOW, Oct 18 (Reuters) - A U.S.-China trade war could shave 0.1 to 0.2 percentage points off Russia's economic growth in the short term, the Russian central bank said on Thursday, adding there were risks of a slowdown by year-end.In an analytical note, the bank also said Russia's annual inflation in September continued to move towards its target of 4 percent. (Reporting by Katya Golubkova Editin...Read More
(Reuters) - U.S. stocks opened lower on Thursday as some industrials reported disappointing results, while the Federal Reserve's minutes showed officials broadly agreed on raising interest rates further, fanning concerns that contributed to last week's sharp selloff.The Dow Jones Industrial Average fell 61.12 points, or 0.24 percent, at the open to 25,645.56. The S&P 500 opened lower by 7.21 p...Read More