Polls suggest Congress may be split after Tuesday’s midterm elections,but then a “split Congress is the favored outcome for markets,” says BrownBrothers Harriman. Analysts note that the popular 538 Website shows Democrats have a sixin seven (85.2%) chance of winning control of the House of Representatives,while Republicans have a five in six (84.2%) chance of keeping the Senate.&...Read More
Easing supply tightness in the alumina market continues to put significant pressure on the fob Australia alumina index and traders expect prices to fall even further before the end of the year. The benchmark fob Australia daily alumina index has fallen back below $450 per tonne for the first time since June 2018. It was most recently assessed on Friday November 5 at $442.50 per tonne. Traders...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday that China has hurt the United States economically but was ready to make a deal on trade and he was open to a fair agreement.“We’ve tariffed $250 billion, taxed them, of their product coming into the United States and we have plenty more to go, but they want to make a deal and if we can make the right deal, a deal that&r...Read More
WASHINGTON (Reuters) - The United States reimposes oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East.The move will restore U.S. sanctions that were lifted under a 2015 nuclear deal negotiated by the administration of Preside...Read More
Fastmarkets launched its China cobalt sulfate price in May 2018, with historical data dated back to March, tracking the price of this key electric vehicle battery material. Read More
CloseGain/LossGold $1230.50-$2.60Silver$14.64-$0.11XAU67.14-0.07%HUI149.83+0.26%GDM544.17-0.37%JSE Gold1162.02+28.85USD96.34-0.11Euro114.11+0.16Yen88.41UNCHOil$63.10-$0.0410-Year3.201%-0.014T-Bond137.50+0.34375Dow25461.70+0.76%Nasdaq7328.85-0.38%S&P2738.31+0.56% The Metals: Gold gained $1.30 to $1234.40 in Asia before it dropped back to $1227.00 in London and bounced back higher in early N...Read More
- Eisman says U.K. is one of the biggest risks globally- He is betting against two UK banks in the lead up to Brexit- Eisman may short 50 other UK firms if "Trotskyite" Corbyn becomes UK PM- Eisman is famous for betting against the US housing market ahead of the 2008 subprime-mortgage crisisby Business Insider UKThe hedge-fund manager famous for betting against the US housing market ahead of...Read More
Alamos GoldInc. (TSX, NYSE: AGI) reports that its drilling program has discovered anextension of high-grade mineralization at the Island Gold Mine. In the “main extension,” the new findingsinclude 118.58 grams of gold per tonne over 6.66 meters, 21.50 g/t over 7.80meters, and 31.70 g/t over 3.81 meters. In the “western extension,” discoveriesinclude 78.26 g/t over 2.29 me...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
FLEMINGTON, N.J./MODESTO, Calif. (Reuters) - Linda Hults is the sort of Republican who President Donald Trump would expect to reward his party for the hottest U.S. economy in a decade by helping defend its grip on Congress in dozens of tight races across the country.Instead, the retired teacher says she is “at a loss” deciding who she will vote for in this week’s election because...Read More
The Nasdaq opened lower on Monday, dragged down by a more than 2 percent fall in Apple Inc shares, while a jump in energy stocks supported the S&P 500 and the Dow Jones industrial index.The Dow Jones Industrial Average .DJI fell 9.36 points, or 0.04 percent, at the open to 25,261.47. The S&P 500 .SPX opened higher by 3.31 points, or 0.12 percent, at 2,726.37. The Nasdaq Composite .IXI...Read More
Turkish steel mills were quiet in the scrap import market at the beginning of the week, with prices remaining firm, sources said on Monday November 5.After booking a number of cargoes in the past week, Turkish steel producers paused their deep-sea purchasing activity on Monday.The most recent bookings put the price for HMS 1&2 (80:20) at $341 per tonne cfr for material from the United States.In th...Read More
Planalto Copper Project in northern Brazil.Lara Exploration Ltd. [LRA-TSXV] has signed a letter of intent, granting Capstone Mining Corp. [CS-TSX] the option to earn up to a 70% interest in the company's Planalto Copper Project in northern Brazil.Lara said its exploration work over the past 12 months has yielded a series of very promising drill results from the Homestead target, including hole PDH...Read More
The Mount Newman railway line in Western Australia. Source: BHP Billiton Ltd.BHP Billiton Ltd. [BHP-NYSE; BHPLF-OTCPK] has suspended all iron ore rail operations in Western Australia after a train carrying iron ore took off without the driver on board and travelled across the Pilbara outback before it was stopped early Monday.Local media reports said the train literally ran away after the driver b...Read More
NEW YORK (Reuters) - A key gauge on U.S. interbank borrowing costs fell for the first time since August on Friday as trading volume rose to its highest level in over a month, implying less strain in money markets, New York Federal Reserve data released on Monday showed.The “effective,” or average, interest rate on what banks charge each other to borrow excess reserves was 2.19 percent...Read More
Turkish domestic auto bundle scrap prices have gone down in line with falling domestic rebar prices, while ship scrap prices have risen thanks to strong imported scrap values, sources said on Monday November 5.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,750-1,940 ($322-357) per tonne delivered, widening downward from last week's TRY1,830-1,940 per tonne....Read More
The freefall in aluminium scrap prices could soon reach its bottom and stabilize, European secondary aluminium market participants told Fastmarkets this week.The combined impact of the trade war between the United States and China and fundamental changes in how the Chinese consume scrap has led to a flood of aluminium scrap entering the global market, pushing the price of some grades to...Read More
(Kitco News) - Gold and silver prices are moderately lower in early U.S. trading Monday, as whatwill likely be a very active trading week gets under way. December gold futures were last down $4.30 an ounce at $1,228.90. December Comex silver was last down$0.131 at $14.625 an ounce. Globalstock markets were mixed overnight, with European shares mostly firmer andAsian shares mostly weaker. U.S. sto...Read More
Gold isn't the only game in town, even though you'd never know it by watching late night TV. Here's what to know and what to consider if you'd like to invest in silver. What Does Investing In Silver Mean? Investing in silver means putting your money into the production, trading or outright ownership of silver metal. For most investors this means buying quantities of bullion in coin or bar form a...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More