Yellow metal losses momentum during American session as US yields rebound and Wall Street trims losses. The rally found resistance below $1,240 and pulled back to $1,230. Gold jumped to $1,239/oz earlier today hitting the highest level since July 17 and the pulled back trimming gains. The move higher was boosted by demand for safe-haven assets and also technical factors. The re...Read More
It's proving to be an ugly day for the market. As of this writing, all major stock market indices are down at least 1.5%, dragging stocks to the lowest levels seen since the start of this summer. Simply put, the price action we're seeing in the broad market Tuesday doesn't paint a particularly rosy picture for stocks' staying power during the rest of 2018. But while Mr. Market gets gut-punched t...Read More
Import prices for steel slab in Southeast Asia and East Asia declined over the past week, mainly due to low buying interest and bearish sentiment among re-rollers.Adding to the downward pressure on prices was the ample supply of slab offered to the region despite Brazilian producers exiting the Asian market.Fastmarkets MB's import price assessment for slab in Southeast Asia and East Asia was $475-...Read More
It's shaping up to be an ugly day for stocks as tariffs take a toll on Caterpillar earningsDow Jones Industrial Average (DJI) futures are pointing to a major sell-off, as traders react to a heavy round of blue-chip earnings. Most notably, shares of 3M (MMM) and Caterpillar (CAT) are set for sharp losses at the open, with 3M's results negatively affected by foreign currency impacts and Caterpillar...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 V2O5Friday October 19Ferro-vanadium - 10 tonnes sold a...Read More
Under-the-radar moving averages can provide unexpected support on pullbacksThe disappearance of journalist Jamal Khashoggi has cast a distinctly unwelcome spotlight onto the Kingdom of Saudi Arabia, as the international community grapples with the political, economic, and moral implications of Khashoggi's fateful Oct. 2 visit to the Saudi consulate in Istanbul. While the U.S. has yet to respond fo...Read More
Weak demand from domestic and export markets pushed the Chinese ferro-silicon market down, while the European market for standard-grade ferro-silicon was unchanged for the fourth consecutive week on Friday October 19, with suppliers holding offer prices despite slow consumer demand. European market cements stability Chinese domestic demand weak, export market follows US market slips on soft...Read More
Gold Gold prices have surged on Tuesday morning and reached the upper trend line of a dominant ascending pattern near the 1,235.00 level. If the commodity price breaks the resistance of the trend line, the metal is set to surge at least up to the 1,240.00 mark. Meanwhile, a bounce off from the resistance and a following decline would reach back down to the pivot point at the 1,227.30 l...Read More
London-listed explorer Greatland Gold (LON:GGP) has detected copper, silver, gold and pathfinder elements at its Scallywag target of the company's Paterson project in Western Australia.The sampling results, said Greatland on Tuesday, reinforce the potential of both precious metals and copper mineralization at the site, located within its Havieron licence.Copper, silver and gold detected in the fi...Read More
Only one digit has changed. But it may have profound consequences, sending the country closer to junk status. Meanwhile, Rome and Brussels clash over budget plan. Will that duel benefit or harm the yellow metal? Only One Notch Above Being Junk Italian drama continues. On Friday, Moody’s, one of the most significant rating agencies in the world, downgraded the Italian credit rating from Baa2...Read More
Investing.com - Gold prices inched up on Tuesday morning in Asia as Asian stock markets fell amidst escalating geopolitical tensions over the killing of journalist Jamal Khashoggi and concerns over Italy’s budget. Gold Futures for December delivery rose 0.16% to $1,226.7 per troy ounce by 11:15PM ET (03:15 GMT) on the COMEX metals division of the New York Mercantile Exchange. Gold prices wer...Read More
James Hyerczyk22 hours agoComex GoldGold futures are trading slightly higher early Tuesday after finishing lower on Monday due to a spike to the upside by the U.S. Dollar. Traders have been looking for clues as to the next major move after rallying to a multi-month high over a week ago. However, a mixed trade by U.S. Treasurys and U.S. equity futures has encouraged many gold traders to take a ...Read More
Christopher Lewis21 hours agoGold markets of course are highly influenced by the US dollar, so keep that in mind before placing any types of trades. At this point, I think that the market probably looks at the $1220 level as massive support. At this point, I believe the Gold markets are a bit extended for the short term, but I would be willing to take a small position at $1220 as it has been somew...Read More
Gold is trapped in a narrow range of $1,220 to $1,230, as the bulls are likely having a breather, having pushed the metal to a 2.5-month high of $1,233 last week. Also, the consolidation is happening in the positive zone above the six-month-long falling trendline. It is worth noting that the trendline hurdle was breached last week. A break above $1,230 (upper edge of the range) would signal a rev...Read More
David Becker1 day agoComex GoldAfter trading sideways for more than 2-months from mid-August to mid-October, many had hoped that the surge in gold prices on October 11, was the beginning of the breakout. While prices continue to form a bull flag pattern, which is a pause that refreshes, the sideways price action is draining. Yields in the US have stabilized with the 10-year near the 3.18 handle, w...Read More
Bix says if you believe in the monetary metals, there is no reason to hold gold as silver will give you 50 times the performance. Here's why...by Bix Weir from Road to RootaThe long abused silver and gold bugs are hanging on for dear life due to the MASSIVE price manipulation from the Exchange Stabilization Fund manager Steve Mnuchin. Keep the Faith!Read More
Brazilian steelmakers were dissuaded from trying to impose further price rises in the domestic market, because of falling Chinese prices and a stronger exchange rate for Brazil's Real, the president of national distributors' association Inda, Carlos Loureiro, said on Tuesday October 23.Flat-steel maker Usiminas, for example, had planned a 5% rise for November, according to Loureiro, "[but] this is...Read More
The price of ferro-vanadium continued to become firmer in the United States and Europe in the week ended Friday October 19, but both of those major markets continued to lag behind the price in the premium Chinese market.A late-week revival in consumer spot market demand in Europe helped to bolster prices for ferro-vanadium in that region.Spot prices for European ferro-vanadium were almost unchange...Read More
Movements in the prices of base metals on the London Metal Exchange were mixed at the close of trading on Tuesday October 23, with tin's strong performance leading the gains across the complex despite a strong US dollar index and broadly risk-averse investors.The three-month tin price has climbed by 2.8% since the start of October and reached an intraday high on Tuesday of $19,400 per tonne. It ha...Read More
The latest news and price moves to start the Asian day on Wednesday October 24.Base metal prices on the London Metal Exchange were mixed at the close of trading on Tuesday October 23, with tin's strong performance leading gains across half of the complex despite a strong US dollar index and broadly risk-averse investors. Read more in our live futures report.Here are how prices looke...Read More