(Kitco News) - Just returned from an investment conference in Bermuda, where the mood among some of the biggest names in the industry was definitely bullish. To be taken in context, most players in the metals space are generally neutral in a worst-case scenario but almost always bullish albeit sometimes with the caveat “if you are a long-term investor”. Metals dealers do not make money...Read More
Smaller deficit reported for August feels more realistic...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download t...Read More
Week in review The LME 3M...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it&#...Read More
Here we go again. After two weeks of consolidation, gold is trying to break out to the upside, $13 higher and sitting at resistance. This action was expected; big breakouts are typical out of the congestion pattern. The bigger question is where does gold from here? The key level is now $1,240, as a break above brings $1,275 into play. With the global tension and markets selling off, money is looki...Read More
U.S. equity index futures were lower this morning. S&P 500 Index dropped 38 points in pre-opening trade. Futures responded to a fall in European and Asian equity indices.United Technologies dropped $0.50 to $125.90 despite after reporting higher than consensus third quarter sales and earnings. The company also raised guidance.MMM fell $13.36 to $188.00 after reporting lower than consensus thir...Read More
America’s debt crisis has been steadily rising over the past decade, and household debt has risen for the 16th straight quarter.The Center for Microeconomic Data reports:Household Debt Continues to Climb in the Second Quarter of 2018The CMD's latest Quarterly Report on Household Debt and Credit reveals that total household debt reached a new peak in the second quarter of 2018, rising by $82...Read More
Slowing momentum in China remains a...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as so...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
A boom commodity two years ago as speculators rushed to take positions in a world expected to be increasingly powered by electricity stored in long-life batteries, the recent performance of lith...Read More
Mining in Manitoba is vanishing like an early morning fog. The mining industry is near collapse in the keystone province, while I continue to raise the mining crisis in the provincial legislature to no avail.The Manitoba government's policy on mining is confused, if it exists at all.Before entering politics, I worked in the mining industry as an engineer in training. My education as a geological e...Read More
The S&P/TSX Venture Composite Index fell 4.1% to 682.16.Shares of Great Bear Resources rose 57 ? to $3.24. The company recently discovered an outcropping ultramafic rock unit with at least a 2 km strike length at its Dixie gold project in Red Lake, Ontario. Because it folds into a "D2 fold axis," Great Bear says it contains the primary controls for high-grade gold mineralization, as they occur in...Read More
In February, B2Gold Corp. (TSX: BTO; NYSE: BTG) announced an initial open-pit inferred resource for the newly discovered El Limon Central zone at its El Limon mine in Nicaragua.This week the gold producer announced the results of an expansion study that evaluated the life-of-mine options for combining El Limon's remaining underground inferred resource (17 million ounces of gold) with the new infer...Read More
The Dow Jones Industrial Average rose 0.41% to 25,444.34, while the S&P 500 Index rose 0.02% to 2,767.78. Spot gold rose 0.74% to US$1,226.50 per oz. gold.Coal producers in the U.S. continued to post gains during the trading week. Peabody Energy's shares rose US52 ? to US$35.56. The Fortune 500 coal giant announced a quarterly dividend of 13 ? per common share payable on Oct. 31. Peabody noted tha...Read More
Prices for rebar and billet in the United Arab Emirates were mostly stable in the week to Tuesday October 23, although market participants expect to soon see an increase in import duties.Members of the Gulf Co-operation Council (GCC) will soon increase import duties on rebar and wire rod to 10% from the current 5%, sources told Fastmarkets on Tuesday, October 23.No official announcement has y...Read More
Comex copper prices were dragged lower by the downturn in equity markets on October 23 morning in the US, after beginning the trading week on solid footing.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 2.65 cents to $2.7590 per lb."The three-month copper price is under renewed downward pressure on Tuesday October 23 morning after being esse...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have fallen over the past week, with demand remaining limited, sources told Fastmarkets on Tuesday October 23.UAE Hot-rolled coil from Russia was on offer to the UAE at $560-565 per tonne cfr, with one buyer bidding $550 per tonne cfr. Egyptian material, meanwhile, was on offer to the UAE at $585 per tonne cfr, wi...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
An overhang of secondary aluminium scrap in the United States has continued to weigh on some prices, with market participants skeptical that dynamics will change through the remainder of the year."The market is flush with scrap... buyers are able to pick and choose what they want. We're buying a little metal at a time and only buying what we need. This is not going to stop," one US consumer s...Read More
The US Midwest aluminium premium has fallen for the third assessment in a row, fueled largely by sellers trying to move metal ahead of a pricing backwardation on the London Metal Exchange expected to hit in December.Fastmarkets AMM's assessment of the spot duty-paid P1020 premium fell to 19-19.75 cents per lb on Tuesday October 23, down on the low end from the previous assessment of 19.25-19....Read More