The Fed kept the interest rates unchanged in December. The statement was rather hawkish, while the dot-plot rather dovish. What does such a mix imply for the yellow metal? Fed Keeps Interest Rates UnchangedYesterday, the FOMC published the monetary policy statement from its latest meeting that took place on December 10-11th. In line with expectations, the U.S. central bank left the federal funds r...Read More

Verylittle happened in the precious metals market both yesterday and in today’spre-market trading – at least so far. We will take this opportunity to discusssomething that we haven’t done in a while – silverstocks.To be clear, we’re not going to discuss the silver mining stock selection, asthat’s something our proprietaryalgorithms do on a daily basis. And yes,...Read More

Gold-linked exchange-traded products are growing in popularitywith investors. Assets held by gold ETFs have grown 38% globally in 2019. In October, according to the World Gold Council, gold ETFsattracted $1.9 billion in net inflows to reach a new record high total goldholding of 2,900 tonnes – at least on paper.There is good reason to be skeptical of whether all these “gold”vehic...Read More

Gold,silver, and mining stocks reversed practically exactly at their double trianglereversal point and the short positions that we opened along with takingprofits off the table from the previous longpositions, became profitable almost instantly. There’s quite a decline to catchhere, and it seems that only a small part thereof had already taken place. PMsReversingTheabove chart clearly shows...Read More

WOOD, one of the Ishares ETF symbols related to the Real Estate and Construction sectors may become the next hottest instrument for skilled technical traders.  Over the past three years, Wood has rallied over 110% between a $40 to $84 range and the trading volume of WOOD has been relatively consistent near an average of about 140k shares per week.  Let’s dig into the opportunities...Read More

Seaborne iron ore prices weakened further on Thursday December 26 with late-January-loading cargoes of Pilbara Blend materials traded at discounts to indices.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.63 per tonne, down $0.40 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.72 per tonne, down $0.40 per tonne.62% Fe low-alumina fines, cfr Qingdao: $90.61 per tonne, down $0.78...Read More

We're witnessing serious banker short covering in silver, and we are also just saw a humongous increase in silver's open interest. Here's an update...by Harvey Organ of Harvey Organ BlogDEC 24//THE ASSAULT ON 1500 DOLLAR GOLD AND 18 DOLLAR SILVER BEGINS: GOLD UP $14.60 TO $1499.75//SILVER UP 32 CENTS TO $17.75//GOLD:$1499.75 UP $14.60 (COMEX TO COMEX CLOSINGSilver:$17.75 UP 32 CENTS (COMEX...Read More

Seaborne coking coal prices were steady on Thursday December 26, with Chinese market participants driving trading activity in the absence of buyers from other parts of the world due to the year-end festive season.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.13 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $147.95 per tonne, up $0.48 per tonneHard coking coal, fob DBCT:...Read More

China's hot-rolled coil producers kept their export offers high on Thursday December 26 amid stability in the domestic market.DomesticEastern China (Shanghai): 3,890-3,910 yuan ($556-559) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader reported moderate trading activity in eastern China dur...Read More

China's domestic rebar prices dropped further in the morning of Thursday December 26 on weak demand, though they recovered in the latter part of the day due to rising futures. Eastern China (Shanghai): 3,610-3,660 yuan ($516-523) per tonne, down 20-40 yuan per tonneNorthern China (Beijing): 3,480-3,520 yuan per tonne, down 10-20 yuan per tonnePrices in eastern China dropped to 3,610-3,630 yuan per...Read More

The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on...Read More

Base metals prices on the Shanghai Futures Exchange were mixed at the close of the morning trading session on Thursday December 26, with activity remaining limited ahead of year-end holidays."It is the holiday season and market activity is very thin because many people are on their vacation now," a base metals analyst in Shanghai told Fastmarkets.Participants have been winding down ahead of holida...Read More

Copper cathode premiums in China fell this week amid year-end destocking, a lack of significant spot demand and a persistently closed import arbitrage window between Shanghai and London.Fastmarkets assessed the copper grade A cathode premium, cif Shanghai at $42-55 per tonne on Tuesday December 24, down by $8 per tonne from $50-63 per tonne a week earlier. The latest assessment marks the lowest si...Read More

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

Northern China's Puyang Iron & Steel (Puyang Steel) plans to add 1.37 million tonnes per year of iron-making capacity and 1.52 million tpy of crude steel capacity in December 2021, according to Hebei Provincial Industry & Technology Information Department. New facilities: one 1,580-cubic-meter blast furnace, one 140-tonne converterConstruction start date: March 2020Location: Handan city,...Read More

Good momentum as Mastercard reports holiday jewelry sales +1.8%, driven by +8.8% growth in e-commerce. General retail +3.4%. Mall traffic down but more people buying. Stores focused on creating unique customer experience. Tiffany & Co. holiday revenue up 1% to 3%, with strength in China and improvement in Europe and America. Polished trading slow as dealers close for Christmas-New Year. Diaman...Read More

Polished business slow. Fewer foreign buyers in the market. Some Chinese demand ahead of Lunar Festival. Local jewelers focused on gold products during wedding season. Rough sector seasonally quiet. Manufacturers cautiously raising polished production in anticipation of better orders in 1Q. RoundRead More

RAPAPORT... Jewelry sales in the US rose 1.8% during the holiday period, amid strong growth in e-commerce purchasing. Online sales of jewelry rose 9% during the two-month period, according to data from Mastercard SpendingPulse, which tracked purchases made from November 1 through Christmas Eve. Retail sales for all divisions - excluding automobiles - rose 3.4% year on year. Total online buyin...Read More

RAPAPORT... Tiffany & Co. noted a "momentum shift" in the Americas during the holidays, as growth in the region contributed to an overall increase in sales for the season.Company-wide revenue climbed by 1% to 3% year on year for the period from November 1 to December 24, the retailer reported Thursday. Sales in the Americas rose 2% to 4%, representing a turnaround from the decline Tiffany repo...Read More

RAPAPORT... HRD Antwerp has hired Ellen Joncheere as its CEO in the middle of a process to sell the company.Joncheere currently holds the same position at Fremach International, a supplier of car parts to the automotive industry. She will join HRD on January 20, succeeding interim CEO Michel Janssens, who will retire in mid-2020, a spokesperson for the Antwerp World Diamond Centre (AWDC) said...Read More