The price of magnesium in Europe has fallen over the past month, reaching a fresh 2019 low amid resumed demand but continuing oversupply.Fastmarkets assessed the price of magnesium, in-warehouse Rotterdam, at $2,470-2,550 per tonne on Friday June 28, unchanged week on week on limited activity, but after two consecutive weeks of falls."Lately, there have been a lot of aggressive bids on tenders in...Read More
August Gold pulled a Pearl Harbor on bears and skeptics Tuesday, reversing early morning weakness with a surprisingly sharp rally. I'd expected another two weeks of corrective action myself after bullion's impressive run-up in June. However, the chart shows the futures to be bound most immediately for at least 1446.90. If so, that would be a new recovery high and an encouraging sign that even b...Read More
By: Ira EpsteinGold needs to break $1,427.80 then $1,446. Something is brewing in gold:Read More
Stewart Thomson, Graceland Updates 1. Major fundamental processes and events create the large chart patterns seen on the monthly charts. It's important for gold and stock market investors to stay focused on the big picture, both technically and fundamentally.2. To view the big technical picture for gold, please click here now. Double-click to enlarge. 3. Since 2001, my propriet...Read More
David HaggithThat didn't take long. On Saturday, well before the US stock market opened post-China-trade-talks, I wrote:The next step for the market would likely be that the remaining stock indices that have not pushed past their own previous peaks would now punch through. By that ... I meant those indices like the Dow that were very close to breaking past their old heights"Best-Case Scenario Ha...Read More
- Avi GilburtNote: Ryan Wilday and I just co-wrote this crypto article, and we thought you may find it interesting.Recently, the Winklevoss twins (who founded the Gemini crypto exchange) coined Bitcoin as 'Gold 2.0.' To support their perspective, they cited Bitcoin's scarcity, its fungibility and its portability as meeting or exceeding that of the yellow metal. Greyscale Investments, th...Read More
By: Ira EpsteinGold 18-DMA support $15 away:Read More
Stocks remained in the grip of a low-grade euphoria Monday, lightened by what is being referred to in the news as a 'thaw' in trade relations between the U.S. and China. No one expected much to happen on the trade front, and nothing much did other, perhaps, than a weekend during which there was no appreciable escalation in the tariff war. In this euphoric phase, stocks have generally wafted hi...Read More
The London Metal Exchange three-month tin price fell by 7% on Tuesday July 2, spanning an intraday range of $17,585-18,980 per tonne. Traders and analysts described the move as a technically-led retreat for the metal. Some 1,289 lots of material changed hands by the afternoon kerb on the same day; the most tin traded since June 2017, with an approximate market value of $113 million. This sharp sel...Read More
Cobalt prices came under pressure across the supply chain in June, facing weak seasonal demand while still finding a balance in light of upstream supply increases and changing Chinese consumption habits. Price moves In June, buyers returned to the hand-to-mouth style procurement seen in the first quarter, in anticipation of weaker prices materializing over the summer. As a result, prices came unde...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday July 2 that are worth another look.It has been more than half a year since the seaborne iron ore market got a new tool to manage the price risks associated with exposure to the high-grade segment. And judging by the performance of the Singapore Exchange's 65% Fe iron ore futures contract so far this year...Read More
David BeckerJul 01, 2019 10:28 PM GMTGold prices were hammered on Monday as the dollar gained traction and riskier assets are buoyed as market sentiment improved in the wake of the G20 meeting. Trump delayed additional tariffs on Chinese goods while talks resume, and China said that it would resume purchasing agricultural products. Existing tariffs will remain in place. Geopolitical te...Read More
June was a good month for gold, which made for a strong first-half of the year for the precious metal. The price of gold GCQ19, +2.09% rose 10% from $1,280.30 per ounce at the end of 2018 to $1,409.00 at the end of last week. Gold jumped 9% in June (Fig. 1). It finished the month at its second-highest level since May 2013, but still 26% below its record high of $1,895.00 in September 2011. Gol...Read More
Cobalt hydroxide payables came under continued pressure in June, hitting new lows for 2019, even as the underlying benchmark price for cobalt metal surrendered the gains made over April and May. The metal and intermediates markets have continued to move independently of one another amid a surplus and greater competition for sales of the latter, and weaker demand from the Chinese battery sector. "P...Read More
It has been over half a year since the seaborne iron ore market got itself a new tool to manage price risks associated with exposure to the high-grade segment.And going by the performance of the Singapore Exchange's (SGX) 65% Fe iron ore futures contract so far this year, it is serving its purpose.On average, more than a million tonnes worth of the contract have been traded every month since its D...Read More
The London Metal Exchange three-month tin price fell by 7% on Tuesday July 2, spanning an intraday range of $17,585-18,980 per tonne. Traders and analysts described the move as a technically-led retreat for the metal. Some 1,289 lots of material changed hands by the afternoon kerb on the same day; the most tin traded since June 2017, with an approximate market value of $113 million. This sharp sel...Read More
Seaborne iron ore prices continued to rise on Tuesday July 2, amid persistently tight supply and news about an easing of the restrictions on steel production in China.MB 62% Fe Iron Ore Index: $125.77 per tonne cfr China, up by $2.12 per tonneMB 62% Fe Iron Ore Index-Low Alumina: $126.24 per tonne cfr China, up by $0.48 per tonneMB 58% Fe Premium Index: $115.04 per tonne, up by $1.37 per tonneMB 6...Read More
Clive says that we can use the reality of silver investors to our advantage, and here's what many silver investors are feeling right now...by Clive Maund of Streetwise ReportsTechnical analyst Clive Maund discusses why he believes silver is amazingly cheap and a sure sign that a major precious metals sector bull market is starting.We have already been over the reasons why a major precious metals (...Read More
The rising gold price is very worrying for the bankers, and they're now doing everything they can to stem gold's rise. Here's why...by Hugo Salinas Price of Plata.com.mxThe prices of the precious metals - gold and silver - are under strict control by the syndicate of the International Bankers. (Incidentally, I speak of the real power exercised by the International Bankers, in a rather long article...Read More
The seaborne coking coal market softened further on Tuesday July 2, with offers continuing to fall while buyers kept to the sidelines to see how much more prices could fall.On the Global Coal trading platform, a cargo of unbranded materials was offered during the day at $186 per tonne fob Australia, and a shipment of branded materials, at $191 per tonne fob Australia. Both are August-laycan cargoe...Read More