The latest news and price moves to start the Asian day on Friday October 19.Base metal prices on the London Metal Exchange fell at the close of trading on Thursday October 18 due to a firmer US dollar index, although zinc was relatively steady thanks to low stocks and the threat of more sanctions by the United States. Read more in our live futures report.Here are how prices looked at the...Read More
"Overall, we have been technically breaking above the previous highs, so it will be difficult for gold prices to move below that," said ABN AMRO analyst Georgette Boele.Monday's global stock market sell-off has added appeal to gold, helping the metal to a two-and-a-half-month peak of $1,233.26.Published 23 Hours AgoUpdated6 Hours AgoReuters Gold edged higher on Thursday, supported by an improved t...Read More
The latest metal markets news and price moves to start the North American day on Thursday October 18.Zinc continued to outperform the other base metals during morning trading the London Metal Exchange following a large cancellation at LME-listed warehouses.The three-month zinc price peaked at $2,687 per tonne this morning, its highest since the start of October, after more than 31,000 tonnes of th...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday October 18.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday, with only zinc showing any meaningful gains while copper was little changed.The broad-based weakness in the base metals follows a rebound in the dollar after the...Read More
Christopher Lewis21 hours agoSilver markets continue to be very choppy and sideways, and therefore a bit undecided. I think at this point we are just simply deciding whether or not the recent gains are justifiable. If the US dollar strengthens, that will probably drive down the price of silver, perhaps down to the $14.50 level. The alternate scenario of course is that we rally, but I think the $15...Read More
The security has pulled back since touching a record peak on Oct. 1Shares of Abbott Laboratories (NYSE:ABT) are taking a hit in early trading, last seen down 1.7% at $69.74, following the company's third-quarter earnings report. Per-share earnings were in line with estimates, but the healthcare concern cut the top end of its adjusted full-yearforecast. From a longer-term perspective, ABT stock ha...Read More
Gold breaks higher.Silver remains below resistance.Silver tried to encourage gold lower in September but failed.Silver could attract a speculative herd.USLV could be a good short-term bet, but use a stop if it starts going south.Gold and silver have long histories as a means of exchange or hard money. The precious metals have been around a lot longer than the fiat currencies we use each day to pay...Read More
ROKU has found support near its 80-day moving averageThe shares of Roku Inc (NASDAQ:ROKU) are up 3% ahead of the bell, after a ban on its devices in Mexico was lifted. The ban resulted from a copyright dispute due to hackers and pirated content. The streaming stock is also likely enjoying a halo lift from Netflix (NFLX), following the sector peer's upbeat earnings report. On the charts, Roku sto...Read More
Netflix shares are surging in pre-market tradingU.S. stock futures are pointing toward a mixed open this morning. The Dow Jones Industrial Average (DJIA) looks set for a meaningful pullback after yesterday's massive rally, with Dow component IBM (IBM) down pre-market after earnings. On the other hand, Nasdaq-100 (NDX) futures are comfortably above fair value, thanks to impressive Netflix (NFLX) ea...Read More
Price has broken out of its 2-month consolidation zone.The breakout happened on heavy volume.If price reverts back towards $1,200, we expect to see heavy buying once more.Gold now seems to have broken clear of the trading range it has been in since mid-august. We are getting some consolidation at present, but price is managing to remain above the $1,220 level. The $1,220 level was crucial in that...Read More
There's a few "sneaky" tricks Wall Street doesn't want made public.While pretending to be pillars of investing intelligence and integrity...The richest, most influential billionaires on Wall Street are secretly manipulating the market - and they don't care who gets hurt in the process.It's nothing personal...They have multi-million dollar bonuses to collect and high-rise condos to buy their mistre...Read More
Gold futures settled lower on Wednesday and extended their decline into electronic trading as a benchmark U.S. dollar index climbed to fresh session highs, shortly after the release of minutes from the Federal Reserve's September monetary policy meeting. A key benchmark for the dollar, the ICE U.S. Dollar Index DXY, -0.05% touched an intraday high of 95.543, up 0.5%, as minutes from Federal Open...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday October 18 because of a firmer dollar but zinc continued to rally thanks to low stocks and the threat of more US sanctions.Copper closed below $6,200 per tonne for the first time this week while nickel hit a one-month low of $12,200 per tonne this afternoon but recovered to close at $12,350 per to...Read More
The Comex copper price tumbled in the morning on Thursday October 18 after the US Federal Reserve indicated another interest rate rise is imminent. The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 4.10 cents to $2.7370 per lb. The broad-based weakness in the base metals follows a rebound in the dollar after the minutes from the US Federal Op...Read More
Seaborne iron ore prices were rangebound on Thursday October 18, with the market showing signs of cooling off from Wednesday's bullishness.MB 62% Fe Iron Ore Index: $73.58 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Pilbara Blend Fines Index: $72.61 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.60 per tonne cfr Qingdao, down by $0.15 per tonne.MB...Read More
Canada's Solaris Copper, which spun out of Equinox Gold in June, received a shot in the arm on Thursday as Freeport McMoRan (NYSE: FCX) has agreed to a deal that would give the US miner up to 80% in the Vancouver company's early stage Ricardo property, in Chile.The option agreement, Solaris said, provides for a three-staged process by which Freeport can earn up a majority interest in the Chilean...Read More
An investor in Hudbay Minerals Inc. wants to meet with the Toronto miner to discuss replacing members of its board, as well as to seek assurances it won't pursue acquisitions or joint venture without consulting shareholders, according to a person familiar with the matter.Waterton Global Resource Management has expressed its concerns to Hudbay Chairman Alan Hibben, telling him that it would reserve...Read More
Activist group Ecologists in Action and other organizations visited the European Parliament in Brussels and demanded the closure of all active mines in Spain.Backed by left-wing MP Xabier Benito, the environmentalists organized a conference titled "Mining in Europe: the new extractive challenge." At the forum, they said that mining activities, which in their view have been experiencing a boom in S...Read More
(Updates prices, market activity)By Collin EatonHOUSTON, Oct 18 (Reuters) - Oil prices fell on Thursday as investors' concerns returned to the impact an escalating trade row between China and the United States will have on oil demand growth and data showing ample supplies.Global benchmark Brent crude has fallen almost $8 per barrel since reaching a four-year high of $86.74 on Oct. 3, weakened by l...Read More
* China sell-off drags Asia shares lower* 10-year U.S. yield dips after touching 1-week high* Oil falls further on U.S. data; Saudi news limits drop (Updates prices, changes comment)By Rodrigo CamposNEW YORK, Oct 18 (Reuters) - Stocks fell on Thursday while German and U.S. bond prices rose in a move toward safety assets, with traders citing the Sino-U.S. trade war, Italy's budget concerns and a wi...Read More