Investors are preferring stock over gold. This has resulted in the correction and not a bear rally. Bear rally will be there if gold does not break $1466 by 15th November. I will prefer to remain on the sidelines in gold today. I will still prefer to use crashes of $100 and more in silver (if any) to invest for the long term. Day traders have to remain on the sidelines in silver. Trump impeachme...Read More
Mining corporation Barrick is eyeing potential alternative processors for concentrates produced at its Lumwana copper mine in Zambia while it waits for a third-party smelter to resume operations after a major refurbishment.The refurbishment was to one of the third-party smelters that processes a portion of the copper concentrate produced at Lumwana. It was expected to be completed by the end of th...Read More
The London Metal Exchange's cash-settled alumina futures contract, which is settled against a basket of prices that includes Fastmarkets' index, traded for the first time on Thursday October 17. Ten lots traded at $284 per tonne for November 2019. There were also two separate trades on the January 2020 contract at $294 per tonne for 10 lots each. The trades concluded between 8:18 and 8:23am London...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
* Palladium hits fresh high of $1,783.21/oz * GRAPHIC-Platinum/palladium ratio: (Adds comments, updates prices)By Eileen SorengOct 17 (Reuters) - Gold edged up on Thursday as investorsfocused on lingering uncertainties over U.S.-China trade ties,while deficit-ridden palladium soared to another record high.Spot gold rose 0.3% to $1,494.05 per ounce at 1336GMT. U.S. gold futures also rose 0.3% to $1...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Turkish steel producers restarted their deep-sea scrap bookings for November shipments at slightly higher prices, sources said on Thursday October 17.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 5,000 tonnes of bonus at $252 per tonne cfr.The previous Baltic Sea cargo reported by Fastmarkets was sold at $237 per...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
Turkish steel mills continued to stay away from the deep-sea scrap markets awaiting clarity in the finished steel markets, sources said on Wednesday October 16.Late on Monday October 14, US president Donald Trump said he would impose a 50% tariff on imports of steel from Turkey in response to its military actions in Syria.Following the news, Turkish steel mills suspended their bookings o...Read More
In 1948, animation director Chuck Jones and writer Michael Maltese first created the classic Looney Tunes duo of cartoon characters Wile E. Coyote and the Road Runner.From the start, Jones assigned what he called "disciplines" to the characters. These were simply character traits and plot models. They included standards such as the fact that the Road Runner can never hurt the Coyote, the Coyote ca...Read More
You'd be surprised how many people ask me what the price of oil will be in a year.What's more interesting is the look on their faces when I tell them what it would cost them, right down to the penny.If you wanted to buy a barrel of oil right now and take delivery at some point in October of 2020, it would cost you exactly $51.46 per barrel as I write this.No, I'm not reading any tea leaves, nor am...Read More
Mining corporation Barrick is eyeing potential alternative processors for concentrates produced at its Lumwana copper mine in Zambia while it waits for a third-party smelter to resume operations after a major refurbishment.The refurbishment was to one of the third-party smelters that processes a portion of the copper concentrate produced at Lumwana. It was expected to be completed by the end of th...Read More
Economy-sensitive stocks received some good news out of Washington on Friday, and it had nothing to do with the trade war. For industrial commodities, it could be the biggest news in over 8 years.IMF global commodity prices peaked in the second quarter of 2011 coinciding with the end of QE 2 which involved the Fed buying approximately $75 billion worth of Treasury bonds and notes over an 8-month...Read More
Tensions between the United States and China have risen again after the US House of Representatives passed an act to support Hong Kong protestors - this is unlikely to help trade negotiations and therefore is another headwind for the markets.International Monetary Fund (IMF) warns global growth could fall to levels last seen during the 2008 financial crisis.A Brexit deal may be on the cards, expec...Read More
Key data from the Wednesday October 16 pricing session in Shanghai. Key drivers The price for cobalt metal in China's domestic market edged down this week amid caution from spot buyers following a slump in local futures prices. But persistent tightness for certain domestic brands of the blue metal limited the price decline. In battery raw materials,...Read More
Fastmarkets welcomed leading players from the world's battery makers as well as producers of raw materials to its first European battery event, held in Amsterdam, for insight and discussion on the anticipated surging growth in the market. This PDF includes all the vital market intelligence from Fastmarkets' inaugural European battery materials event. Click on the image below to view the PDF. Read More
COLORADO SPRINGS, CO, Oct. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") reports record preliminary gold production results for the third quarter ended September 30, 2019 of 11,165 ounces, reflecting the growing gold production impact from its Isabella Pearl mine, located in Mineral County, Nevada. In addition, the Company...Read More
- Avi GilburtWhile we have been tracking the metals market for the next rally set-up, we have seen some signs that the market may attempt to begin that rally sooner rather than later. However, I have to be honest in noting that I am seeing more signs that lower levels may still be struck before we are ready for that rally. So, as I have been saying for the last few weeks, I am going to stil...Read More
By: Ira EpsteinGold has support around $1,470 level. Daily gold chart is in a stall..Read More
By: Ira EpsteinGold weekly chart 18-Weekly MA near $1,469. Gold bias yesterday went to the downside. Under the 18 day moving average, 1474 area support..Read More