Today is Monday, January 6, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,565.40. It's up 0.84% from yesterday and up 21.8...Read More

Today is Monday, January 6, 2020, and this is your daily oil stocks roundup. Today we're looking at the valuations of Marathon Oil Corporation (NYSE: MRO), Pioneer Natural Resources (NYSE: PXD), and Valero Energy Corporation (NYSE: VLO).Marathon Oil Corporation (NYSE: MRO)Marathon Oil Corporation (NYSE: MRO) is an $11.08 billion company today with a one-year return of -5.95%. Let's look at its pri...Read More

Oil and gold have rallied amid steaming tensions between the United States and Iran.Crude for forward-month delivery has increased by almost 5% to more than $63 per barrel, while gold has risen by over 3% to more than $1,580 an ounce since news of the Soleimani assassination broke.But there's another very special commodity that's rallying even more while quietly sitting in the background: rhodium....Read More

The domestic price for hot-rolled coil in Northern Europe was stable on Monday January 6, due to limited trading activity after the holidays across Europe, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe, was stable day on day at ?,?439.38 ($490.13) per tonne on Monday January 6.The index was calculated based...Read More

The global finished steel market in 2020 is set to be weighed down by a continuation of last year's weaker end-consumption rates, but there are bright spots coming in the longer term, Fastmarkets analysts forecast. In some ways, 2019 looked very similar to the year before in the world's steel markets as momentum continued to slow from the supercharged year of 2017. From an apparent consumption vie...Read More

Turkish exports of flat steel products fell by 46.11% year on year to 406,321 tonnes in November 2019, according to the Turkish Statistical Institute (TUIK).This compares with a volume of 753,915 tonnes in November 2018, TUIK said.The decrease was also due to the fact that Turkish flat steel exports had increased by 139% year on year in November 2018.Coated flat-steel exports fell considerabl...Read More

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. After we published our final technical review of the year on Dec 15th, the INK Canadian Insider Index rallied 25 points or 2.1% on the way to a brand new 2019 intraday high at 1190.53 (and closing high of 1189.66) before entering a corrective trend. The Index closed last week down 7.41 po...Read More

Import prices for rebar in Singapore increased further over the past week after sellers kept their offers high. The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $460-465 per tonne for the week to Monday January 6, up $15 per tonne from a week earlier.Back-to-back o...Read More

China's domestic and export prices for rebar dropped slightly on Monday January 6 on weakening demand, though the futures market for the long steel product registered some gains amid optimism linked to a truce in the country's trade war with the United States.Eastern China (Shanghai): 3,680-3,710 yuan ($528-533) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,540-3,570 yuan per tonne,...Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products....Read More

Turkish steel producers have returned to the deep-sea scrap markets for February cargoes with prices remaining largely stable, sources said on Monday January 6.Bookings of four deep-sea cargoes were heard after the daily indices closed late on Friday January 3.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (90:10), 8,000 tonnes of shredded and 2,000 tonnes...Read More

Ferrous scrap prices in most global markets were stable in the week ended Friday January 3 amid an absence of significant spot trading activity due to the year-end festivities.Turkish market remains quiet. United States looks forward to strong start to new year. Taiwanese buyers cut bids. India continues to catch up with international markets. TurkeyTurkish imported scrap prices remained stable th...Read More

Turkish scrap prices have remained largely stable over the past week with the costs for imported scrap remaining similarly steady, sources said on Monday January 6.Only two steel mills have made slight changes in their buy prices for auto bundle scrap over the past seven days.Long steel mill IDC raised its buy price for the...Read More

Strengths? The top performing precious metal for 2019 was palladium, gaining 54.20 percent. In a weekly Bloomberg survey of analysts and traders, gold sentiment remained marginally bullish the first days of the New Year. The survey showed eight bullish, two bearish and seven neutral. At week-end, gold advanced toward a six-year high, climbing 1.5 percent to $1,551 an ounce in Lon...Read More

Dear Friend of GATA and Gold:Our friend B.A. tonight challenges optimism among gold and silver investors that the latest crisis in the Middle East will explode Western central banking's longstanding gold price suppression policy.Ordinarily your secretary/treasurer would agree with him and change the channel from news to anything promising comic relief. After all, these geopolitical crises never...Read More

Gold faces big resistance between $1590-$1610 zone. Only a break of this zone will result in $1707.50 and $1822 in the near term. Short term hot money will flow into gold if it rises this week. Gold could be a Las Vegas if it rises this week. The quicker the pace of rise, the more will be short term volatility in gold. I will be closely watching the pace of rise and not the actual rise. Silver i...Read More

In the first week of January the mood in some of the world's major steel billet markets turned bearish because of a lack of demand and weakening prices for finished long steel products.TurkeyIn Turkey, both import and export billet prices have softened over the past week, in line with falling offers for rebar and wire rod as well as poor demand.Offers of CIS-origin billet from traders were reporte...Read More

Despite environmental issues being on the agenda, including the announced switch from the basic oxygen furnace (BOF)- to electric arc furnace (EAF)-based steelmaking process, profitability has been and will likely remain the key driver for Chinese steelmakers when it comes to choosing steelmaking raw materials, Fastmarkets analysts forecast. This has been evident in the decoupling of 62% Fe and 65...Read More

Import prices for steel slab in Southeast Asia and East Asia have increased over the past week amid a widening spread with regional hot-rolled coil prices.Suppliers are likely to quote higher slab prices in their offers this month due to recent gains in the flat steel segment, sources told Fastmarkets.Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia, was $435-...Read More

UG2 chrome ore producers achieve higher sales prices amid improved sentiment.Chrome ore prices up on higher offersAlloy downtrend capped amid stronger upstream marketJapanese, South Korean markets flat during holidaysEuropean alloy prices riseUS prices slightly firmer on thin trader inventories.Prices for UG2 chrome ore rose on Friday January 3 after South African producers increased their offers...Read More