Gold futures finished slightly higher Tuesday a day after coming under pressure following a round of upbeat data on manufacturing activity out of China and the U.S. that sparked a rally in stocks and other assets perceived as risky and robbed haven assets of their appeal. Gold for June delivery GCM9, +0.05% on Comex picked up $1.20, or less than 0.1%, to settle at $1,295.40 an ounce, while May si...Read More

Kirk WoodmanThe Islamic State in Iraq and Syria (ISIS) claims to have kidnapped and killed Canadian geologist Kirk Woodman while he was working in Burkina Faso, West Africa, according to published reports.Woodman's body was found on January 16, 2019, two days after his abduction by a dozen gunmen at a mining site operated by privately owned Vancouver company Progress Minerals.A report by Reuters n...Read More

The Wednesday Market Minute Global stocks hit a six-month high as stronger China data, as well a potential Brexit breakthrough, boosts investor sentiment.U.K. Prime Minister Theresa May will ask for a second Brexit extension as she vows to reach across the aisle to cut a non-partisan agreement that would avoid a damaging no deal Brexit for the world's fifth largest economy.Brent crude prices tes...Read More

The First Cobalt Refinery near the town of Cobalt, northeastern Ontario. Source: First Cobalt Corp.First Cobalt Corp. [FCC-TSXV; FTSSF-OTCQB; FCC-ASX) shares rallied sharply Wednesday April 3 after the company said it has successfully produced a battery grade cobalt suflate.The company said it achieved this result by using the First Cobalt Refinery flowsheet, a milestone that brings the company cl...Read More

Alamos Gold's 100%-owned Mulatos gold mine located 220 km east of Hermosillo, Sonora State, Mexico. Source: Alamos Gold Inc.Alamos Gold Inc. [AGI-TSX, NYSE] said Wednesday April 3 that its Mulatos Mine in Mexico produced its two millionth ounce of gold in March 2019. This milestone marks the end of the 5% net smelter royalty, representing a saving of approximately $65 per ounce at the current gold...Read More

Three-month base metals prices on the London Metal Exchange were firmer during morning trading on Wednesday April 2, up by an average of 0.4% - further evidence of a recovery in China's economy seems to be providing support.Nickel once again led the way with a 0.7% rise on Wednesday, with the metal's three-month price recently quoted at $13,255 per tonne, up from Tuesday's close at $13,165 per ton...Read More

Ontario's government is working for the people by supporting tourism in the Thunder Bay region with an investment in six projects, creating 18 new full- and part-time jobs.Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced an investment of more than $1 million. Projects include: $456,000 for SailSuperior.com Yacht Charter Adventures, a harbour tour operator in Thu...Read More

* SPDR Gold holdings fall to lowest since March 8 * Silver off 3-month lows hit on Tuesday * GRAPHIC-2019 asset returns: (Updates prices)By Sumita LayekApril 3 (Reuters) - Gold steadied on Wednesday, supported bya dip in the dollar, while gains were capped by a rally inglobal stocks following reassuring economic data from the UnitedStates and China and optimism the two countries would strike atrad...Read More

Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% min, China ex-works, adjustment to the low-grade cobalt low-end price at Co 20.5% basis is on a $ per lb basis.Fastmarkets MB prices Click here for Fastmarket MB's price assessment for coba...Read More

Every young Saudi prince knows the story.The source of their family's oil wealth starts back during the 1930s, when a small group of wildcatters drilled the Dammam No. 1 well.It was the first oil well ever drilled in Saudi Arabia.And it turned out to be a dud.So was the next. And the next. And the next.You get the point.For these early drillers, the seventh time was the charm.On December 7, 1936,...Read More

Demand for flat steel in Turkey failed to improve in March and most prices went downward, with demand unlikely to improve significantly in April, market participants told Fastmarkets on Wednesday April 3.Local producers have filled their order books until late May, they added.The price decreases in March were because of the weak demand in both local and export markets.Mayoral elections were held a...Read More

China's hot-rolled coil market was largely steady on Wednesday April 3, though exporters have started to adopt different strategies amid domestic prices gains and weak demand from abroad.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($577-579) per tonne, up 20 yuan per tonneNorthern China (Tianjin): 3,790-3,810 yuan per tonne, unchangedPrices in Shanghai rose during the day, even though tradi...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday April 3 that are worth another look.The United States' non-ferrous scrap export market was mixed in January, with shipments of aluminium scrap rising while those of copper scrap fell slightly compared with the same month last year.In base metals, the estimated arbitrage for shipping aluminium from warehouses in Asia...Read More

The price range for rebar produced and delivered in Northern Europe widened downward by ?,?5 per tonne amid sluggish demand and cautious buying activity, sources told Fastmarkets on Wednesday April 3.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?535-550 ($599-616) per tonne delivered on Wednesday, down from ?,?540-550 per tonne delivered on March 27."There has n...Read More

The price for rebar produced and delivered in Southern Europe has fallen by ?,?5-30 per tonne over the past week due to softer demand, market participants told Fastmarkets on Wednesday April 3.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?485-515 ($543-577) per tonne delivered on Wednesday, down from ?,?515-520 per tonne delivered on March 27."The Spanish ma...Read More

Turkish steel producers continued to stay away from the deep-sea scrap markets due to domestic political instability and weak demand for finished steel, sources said on Wednesday April 3.The lowest offer for HMS 1&2 (80:20) was heard at $315 per tonne cfr from a Baltic Sea supplier but the mills did not want to pay any higher than $305 per tonne, Fastmarkets was told.The mills were also waiting fo...Read More

Physical iron ore prices shot up further above the $90-per-tonne-cfr mark on Wednesday April 3 amid bullish sentiment reflected in derivatives markets. MB 62% Fe Iron Ore Index: $93.08 per tonne cfr Qingdao, up $3.19 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.20 per tonne cfr Qingdao, up $3.19 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $95.60 per tonne cfr Qingdao, up $3.46 per tonn...Read More

You will recall that last Wednesday a warning was posted before the open that gold was about to break sharply lower from a bear Flag, which it did the very next day, so you had a full day of trading to prepare, either by exiting positions, placing stops or purchasing inverse ETFs or Puts, and I was pleased to learn that some of you did just that. As we can see on gold's latest 8-month chart bel...Read More

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Bitcoin's sharp rally on Tuesday was being described by some as a 'mystery surge', but it is no mystery at all for anyone who has seen the film Night of the Living Dead. Buffs may recall that the movie's flesh-eating zombies were activated by radioactive contamination from an exploding space probe that had visited Venus. Although no similar explosion has been reported by NASA, it seems entirely...Read More