Scotland is one step closer to having its first commercial gold and silver mine as Scotgold Resources (LON: SGZ) said Thursday it had submitted the last application to secure planning permits for its Cononish project, near Tyndrum.The company, which has decided to liquidate its French subsidiary, said that it had worked with the Trossachs National Park Planning Authority (NPA) to secure all the ne...Read More
The bull market could be nearing its end, and a new panic is approaching.The U.S. Mint just issued a troubling report.It appears that sales of physical gold and silver are in full collapse.At the Mint, U.S. Gold Eagle coins sold through August have dropped 18% compared to last year.And sales of U.S. Silver Eagle coins fell a whopping 32.6% in August 2018 compared to August 2017.What exactly is go...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
Is a "Blue Wave" building?Something strange is happening in America.Millions of Americans are furious - and this time, they're taking their anger out on Republicans.All across America, 45 Republicans have lost elections during Trump's presidency in places they shouldn't have possibly been able to lose... even in districts where Trump won in a landslide and remains popular.In the last few months al...Read More
• The commodity has been correcting from 2-1/2 month tops alongside a short-term descending trend-channel formation on the 1-hourly chart. • Against the backdrop of the recent upsurge from $1183 area, the channel now seems to constitute towards the formation of a bullish flag chart pattern. • Moreover, positive technical...Read More
Researchers at the University of California – Berkeley have discovered that a bacterium named Moorella thermoacetica produces solar fuels through artificial photosynthesis in a very efficient way when fed with gold.In a paper published in Nature Nanotechnology, the scientists explain that by placing light-absorbing gold nanoclusters inside the CO2-hungry bacterium, they have created a biohyb...Read More
Turkish domestic prices for rebar and wire rod continued to slide in the week ended Thursday October 18. But this time the drop was spurred not only by modest demand but also by the strengthening of the local currency against the US dollar.The country's domestic long steel prices are strongly connected to the lira-dollar exchange rate and move in line with that, because mills buy their raw materia...Read More
• A modest USD retracement/cautions mood helps regain some positive traction. • Fed rate hike prospects/surging US bond yields seemed to cap strong gains. Gold reversed an early dip to $1219 area and is currently trading with modest gains, near the top end of its daily trading range. The commodity stalled this week's retracement slide from 2...Read More
Turkish steel billet prices have fallen over the past week because of poor demand both domestically and abroad as well as a strengthening of the lira against the dollar.The lira started to gain in value by the end of last week after the release of US pastor Andrew Brunson in Turkey, who hads been detained by local authorities because of alleged links to outlawed political groups. He was freed by a...Read More
“Policy would need to become modestly restrictive for a time.” This is the key quote from the recent FOMC minutes. This is not a reason for gold’s joy. Fed Is Becoming More Hawkish Yesterday, the Fed released minutes from the recent FOMC meeting. As everyone knows, the Committee hiked commrates by another 25 basis points in September. But what about the future stance? Well, the m...Read More
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