Nyrstar's share price plummeted by more than 57% overnight in one of the biggest one-day declines on record for the global multi-metals company, while a broad restructuring of its debt remains one of the most likely options for it to pursue, according to equity analysts at ABN AMRO Group.Both Nyrstar's equity and bonds hit an all-time low of ?,?0.52 per share over the afternoon on Monday November...Read More
The Turkish steel producers have continued to hold back from new bookings in the deep-sea markets for scrap material, while prices were largely stable, sources said on Monday November 12.After booking two cargoes from the United States late last week, Turkish mills paused their purchases and went into wait-and-see mode. The latest transaction from the US included an 80:20 mix of No1 and No2 heavy...Read More
The latest news and price moves to start the Asian day on Tuesday November 13.The three-month lead price dropped almost 2% during the London Metal Exchange closing trade session on Monday November 12. Read more in our live futures report.Here are how prices looked at the close of trading:Sluggish demand could lead to softer spot copper premiums in China next year, Arc Resources general m...Read More
The Kambalda gold district in the Goldfields region of Western Australia has recently made world headlines with record size gold nuggets.The Pilbara region of Western Australia has had recent conglomerate style gold discoveries that are reminiscent of the famous Witwatersrand gold reef in South Africa.A look at some of the main gold players in these two exciting regions.With trade wars and the pot...Read More
The latest metal markets news and price moves to start the North American day on Monday November 12.Base metals on the London Metal Exchange were mixed during morning trading with nickel, zinc and lead prices pressured by a fresh 2018 high in the US dollar index, while copper and tin futures found support. Here's how base metals prices looked at 11:48am London time:For a snapshot of...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday November 12.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Monday, dragged down by a strong dollar and negative sentiment surrounding the ongoing trade spat between the United States and China. Only zinc managed to buck the downward...Read More
The manipulation theorists have more fodder due to a recent development.Manipulation did not cause the standard market correction between 2011 and 2016.Market sentiment is the main driving factor in the metals market.There were several developments in the gold market this past week. First, we heard of another trader who has pleaded guilty to "manipulating" the metals market. And, everyone is up in...Read More
GOLD eyes additional price weakness towards 1,200.00 area in the new week. This is coming on the back of its past week losses. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targ...Read More
Gold remains under pressure, trading near $1,200/oz. Wall Street falls sharply and US Dollar consolidates gains. Gold slide further and reached a fresh daily low at $1,202/oz the lowest level in four weeks. The yellow metal is falling for the seventh-day in-a-row. A week ago was testing the key resistance area seen around $1,235 and now appears to be headed for a test of $1,200, maki...Read More
EUR & Gold down, USD & Oil up – EURUSD dove to a 16-month low on broad Dollar strength; Oil prices up, breaking run of 10 down days. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument. Read More
The Gold Shares ETF is struggling below a "death cross," but traders should buy weakness to my monthly and quarterly value levels of $111.60 and $110.26, respectively.The Commodities ETF suffered a correction of 13.7% since setting its 2018 high of $18.81 on Oct. 3.The Long Dollar ETF has been above a "golden cross" since May 31 and is approaching my risky level for November at $26.20.Here are the...Read More
Silver bulls often tussle over whether to buy silver bullion for the long term or to speculate in silver mining stocks for potential silver price outperformance.Here we cover some of the key differences between the two as well close with data comparing silver mining stock performance vs silver bullion since the middle 1980s to today.We will begin this content with a broad generalization.You buy a...Read More
Investing.com - Gold prices were little changed on Monday as the dollar traded near 16-month highs and traders awaited U.S. inflation data due later this week.Meanwhile, Federal Reserve Chairman Jerome Powell’s speech on Wednesday would also be closely watched as he discusses national and global economic issues.The Fed indicated earlier this month that it is still on course to hike interest...Read More
With gold and miners selling off Friday on fears of Fed rate hikes and year-end tax loss selling, many investors fear the decline will continue through December.But recent history shows us the gold and miners market is not so simple at the end of the year:The bottom can and has arrived in mid-November or the first of December, as likely as later in December.When it does, the sudden immediate rally...Read More
Gold is stationary in Asia on Monday as the markets consolidate with a US holiday to get through before key events such as US CPI will hit the slate. Gold has been suffering on higher US rates and the recent Fed comments which have been supporting the upside bias in the dollar. Gold has been underwater of late, falling from the early November highs at $1,243 and landing al the way down thr...Read More
Gold fell sharply last week as the Fed reaffirmed policy tightening stance. The demand for gold call options (bullish bets) has dropped sharply in the last six days, adding credence to bearish technical setup. Gold (XAU/USD) is currently trading at $1,210, having dropped close to 2 percent last week. A major chunk of that drop happened on Friday - a day after the Fed reaffirmed its hawkish polic...Read More
Lead`s three-month price dropped almost 2% during the London Metal Exchange closing trade session on Monday November 12, followed by a 1% drop in the three-month zinc price. Lead`s three-month price dropped almost 2% during the London Metal Exchange closing trade session on Monday November 12, followed by a 1% drop in the three-month zinc price. Lead futures closed at $1,929 per tonne, down 4...Read More
Nyrstar's share price plummeted by more than 57% overnight in one of the biggest one-day declines on record for the global multi-metals company, while a broad restructuring of its debt remains one of the most likely options for it to pursue, according to equity analysts at ABN AMRO Group.Both Nyrstar's equity and bonds hit an all-time low of ?,?0.52 per share over the afternoon on Monday November...Read More
The Comex copper price continued its downward trend on Monday morning in the United States amid a stronger dollar and a lack of fresh news.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 0.45 cents to $2.68 per lb."We continue to expect a notable rebound in...Read More
Euro Sun Mining (TSX: ESM) has become the first non-state-owned entity to receive a ratified mining licensce for its Rovina Valley copper-gold project in Romania, signaling that the East European nation is open for business, the company says.The mining company will now embark on an Environmental and Social Impact Assessment (ESIA), and continue its work on a feasibility study on the project, whic...Read More