COLORADO SPRINGS, Colo., Jan. 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced multiple ore grade intercepts from its maiden drill program at the "Scarlet" target located 400 meters north west of its operating Isabella Pearl mine in Mineral County, Nevada. Near surface ore grade gold intercepts included 24.38 m...Read More
Craig Hemke Much of the talk surrounding gold thus far in 2020 has focused upon geo-political and pandemic risks. While all of this is relevant to price in the short-term, the discussions being held by the Fed's FOMC this week will have a much more durable impact.At this point, I wouldn't expect any change to the Fed Funds rate on Wednesday when the meeting concludes. The Fed just assured us las...Read More
Clint Siegner, Money MetalsPhysical palladium and rhodium markets are buzzing. Reported prices for both metals leapt higher in recent days.The story behind palladium's move is that a physical shortage has developed in London. Traders sold metal they didn't physically possess. Now they are being asked to deliver the bars and they are scrambling to secure the metal needed, bidding prices higher....Read More
By: Ira EpsteinGold 18-dma support at $1,564.80. Resistance around $1,587/8. Gold swings hard to call market..Read More
To me the fall in gold price is just a correction and nothing else. Traders will prefer not to get caught off guard in FOMC tonight. Margin calls on stocks and crude oil also resulted in traders closing long positions in gold. Technical sellers came into play once gold started falling. Silver got knocked down as it failed to trade over $18.00. The combination of gold price fall along with sell o...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More
Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More
The outbreak of a coronavirus has led to the prolonged closure of Chinese businesses, triggering delays in logistical operations with copper market participants looking to ship cathodes and concentrates into the country.Traders and producers with shipments set to arrive in China in the first two weeks of February reported potential delays as well as difficulty in getting guarantees that letters of...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 29.Please click...Read More
The three-month price of lead on the London Metal Exchange stood out as the most notable underperformer at the close of trading on Wednesday January 29, selling off more than 3% of its outright price to close at its lowest level since June 2019, while copper continued to struggle over the afternoon.Lead's underlying price on the LME closed at $1,832 per tonne on Wednesday afternoon, falling from a...Read More
Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.Aluminium stock levels at warehouses in Nagoya were at 139,000 tonnes at the end of December 2019, down from 151,200 tonnes the previous month. Total aluminium stocks at the three main Japanese ports (MJP) o...Read More
SD Midweek Update: The Gold-to-silver ratio shot up to 90 as silver gets taken behind the woodshed, but the beating will likely not last long...Thank you cartel!For what?The flash sale on silver!That's what.You see, the cartel is still up to its Dollar Tree magic tricks attempting to signal a certain thing to the world: The global economy is at the very minimum slowing down, as is the demand for c...Read More
The three-month price of lead on the London Metal Exchange stood out as the most notable underperformer at the close of trading on Wednesday January 29, selling off more than 3% of its outright price to close at its lowest level since June 2019, while copper continued to struggle over the afternoon.Lead's underlying price on the LME closed at $1,832 per tonne on Wednesday afternoon, falling from a...Read More
The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week, with participants anxious about how far ferrous scrap prices would fall, sources told Fastmarkets on Wednesday January 29.Ferrous scrap prices in Turkey climbed sharply between late November and mid-December but then remained steady until mid-January. The Turkish price is a benchmark for the regional...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More
Stainless steel scrap prices in the United States have weakened after the London Metal Exchange cash nickel price fell below the $6-per-lb mark."Speculation that China's economic growth will suffer significantly because of the virus outbreak has taken a toll on base metal prices, and nickel has not been immune [to the fall]," one major dealer source said, adding that "prices have reverse...Read More
I??igo P?(C)rez, vice president of Europe and Asia sales at Alcoa, will be leaving the aluminium producer after working there for 18 years, Fastmarkets understands. P?(C)rez, who handled aluminium product sales at Alcoa, will...Read More
Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.Aluminium stock levels at warehouses in Nagoya were at 139,000 tonnes at the end of December 2019, down from 151,200 tonnes the previous month. Total aluminium stocks at the three main Japanese ports (MJP) o...Read More
The Rotterdam uncut nickel cathode and US nickel briquette premiums rose in the week to Tuesday January 28 on firmer demand for the former and weaker supply of the latter, while premiums in China held firm with participants out of the market for the extended Lunar New Year break.The in-warehouse Rotterdam cut cathode premium rose at the top end of the range, with firmer demand enlivening spot sale...Read More
Hot-rolled coil prices in the United States again dropped below $30 per hundredweight ($600 per short ton) on fears that a negative ferrous scrap outlook for February could put the flat-rolled steel market under more pressure.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.98 per cwt ($599.60 per ton) on Wednesday January 29, down by 0.8% from...Read More