By: Stefan Gleason, Money MetalsDuring the lackluster and otherwise unremarkable trading of 2018, a hugely important development took place in the precious metals markets. Gold production, in the estimation of some top industry insiders, peaked.Peak gold represents the point at which the total number of ounces being pulled out of the ground by miners reaches a maximum.It doesn't necessarily mean...Read More
By: Gary ChristensonGold prices (weekly chart) formed an impressive inverse head and shoulders formation during a five-year base. Gold prices, which bottomed in December 2015, should climb the wall of worry.WHAT WALL OF WORRY?Really? You have to ask? Financial, stock market, debt and political worries come to mind:Global debt is about $250 trillion. The lenders expect to be repaid plus interest....Read More
By: Gary TanashianAs the stock market cracked on October 10th we noted...Looks Who's Holding Firm Amid the Carnage; the Gold MinersAnd sure enough the GDX bottoming pattern noted in that post (and before that in an NFTRH subscriber update) played out perfectly amid the stock market carnage going on all around it.Was I trying to predict something? Of course not. I was just following general rul...Read More
By: David HaggithFederal Reserve Chair Jerome Powell placed his put in stocks while saying there is none. When he doubled down today on a more dovish approach to the economy, Powell claimed the Fed is not designing interest rates to keep the market climbing. If that is true, recession must be near:Fed delivers a "double-barrel dovish blast" The Fed sees recession dead ahead. You have only that...Read More
Well, there you have it: the most brazenly bogus rally in the history of the world. Are these guys good, or what? The fix was in even before Powell declared Wednesday afternoon that the Fed would be "patient." (Now there's a word that will reverberate through history!) AAPL's and Boeing's handlers had already gotten the jump on the Fed chairman's latest PR mutterance, deftly engineering respec...Read More
The price of billet in the Commonwealth of Independent States' (CIS) market moved up by the end of the week after customers in North Africa accepted higher levels in deals.A 50,000-tonne cargo of Russian billet - with increased manganese content - was reported sold to Algeria at $440 per tonne cfr, with freight cost assessed at $15 per tonne and additional manganese at $5 per tonne. This is normal...Read More
Full Article: SWOT Analysis: Gold Traders Bullish for 11th Straight WeekBY: Frank HolmesStrengthsIn what has been a rather rare occurrence, silver was the best performing metal this week, up 2.64 percent despite a steady trickle of silver out of the physical metal ETFs on a near daily basis. Gold traders are bullish for an 11th straight week, as surveyed by Bloomberg, on the heels of a declining...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 31 that are worth another look.United States President Donald Trump strengthened Buy America requirements for infrastructure in an executive order on Thursday January 31, in a potential boost to domestic iron, steel and aluminium industries, among others. Lawmakers in the United States have introduced legislat...Read More
Silver peaked just shy of $50 during April of 2011. The price has been correcting ever since, falling below $14 per ounce in 2016 and again late last year. But there is a silver lining to such a deep and protracted price correction.With silver prices under $20 per ounce for so long, a significant number of mines are unable turn a profit. And even the ones that can, are not generating enough cash f...Read More
Fed confirms that gold has nothing to fear from rising rates.Stronger pound and weaker dollar also continue to support bullion.Gold's relative strength versus S&P 500 bodes well for interim outlook. The outlook for gold continues to brighten now that it no longer has to compete with higher interest rates. In today's report, we'll discuss the Federal Reserve's latest interest rate statement...Read More
Manganese ore prices are showing signs of recovery after a poor start to 2019 that was blamed largely on bearish sentiment around silico-manganese and steel markets in China.Low-grade manganese ore prices have edged up in late January amid a flurry of demand ahead of Chinese New Year, which meant some of the firmer offers in the market were successful, despite the fact that some miners had cut off...Read More
Zijin completes acquisition of Nevsun.The new Barrick Gold starts trading as GOLD. What comes next?Newmont and Goldcorp to combine forces. Is it a good move?Here's a look at that news and more top news in the gold sector for January 2019.Top Gold Mining News for January 2019 I am here to provide you with the top news in the gold mining sector for January 2019. Well, things are looking pretty g...Read More
Gold and Silver, Daily & H4 Gold Futures soared to fresh eight-month highs of 1,323.00 from near $1,308, after the dovish FOMC statement, which removed the reference to further gradual rate increases, resulting in a fresh round of risk-on, and a lower Dollar and Treasury yields. Today marks the fourth straight day of higher daily highs, following the January 18, which provided a Gold...Read More
Since 2013, Candente Gold (TSXV:CDG) has been engaged with an agreement to reprocess the tailings deposit derived from the Mexico mine, which is part of the San Rafael Vein in the El Oro District, where the company has earned an undivided 100% interest from Goldcorp S.A. de C.V.El Oro is located in the state of Mexico in central Mexico.In a press release, Candente said that the agreement has to be...Read More
• Dovish Fed signals continue to boost demand for the non-yielding yellow metal. • A turnaround in equities offset a modest USD rebound and remained supportive. • Focus now shifts to Friday’s important release of the keenly watched US NFP data. Gold continued gaining positive traction through the mid-European session and c...Read More
Stocks rallied on Wednesday following the Fed's Rate Decision announcement. The broad stock market extended its month-long advance, as the S&P 500 index got closer to the 2,700 mark. Will the uptrend continue today?The U.S. stock market indexes gained 1.6-2.2% on Wednesday, as investors reacted to the FOMC's Statement, quarterly corporate earnings releases. The S&P 500 index broke above it...Read More
In Zhuzhou - former home of China's top zinc smelter - the skies aren't exactly blue, but they're starting to clear up. Today the city in Hunan province registered an air quality index of close to 250, regarded as "very unhealthy". Still, the index, which measures particulate matter PM2.5, was close to 280 at the same time last year. It was home to the Zhuzhou Smelter Group, the world's fifth larg...Read More
in 2018, Central banks bought the most gold by volume since 1967.The Russian central bank is leading the way as it looks to reduce its reliance on dollar reserves.David Reid| @cnbcdavyPublished 13 Hours AgoCNBC.com Carla Gottgens | Bloomberg | Getty ImagesGold bars sit in a vault at the Perth Mint Refinery, operated by Gold Corp., in Perth, Australia, on Thursday, Aug. 9, 2018.The amount of go...Read More
Has the Great North American Silver Stacker woke up from its 2-year hibernation? Here's Steve St. Angelo with an update on the physical silver market...by Steve St. Angelo of SRSrocco ReportAs the demand for precious metals shows some life once again, sales of the U.S. Mint Silver Eagles jumped in January. Not only have Gold, and Silver Eagle sales increased, so have the precious metals prices....Read More
Big win for the doves! And for gold, as it jumped above $1,320 amid the soft FOMC statement. What’s next? Committee Will Be Patient Yesterday, the FOMC published the monetary policy statement from its latest meeting that took place on January 29-30th. In line with the expectations, the US central bank unanimously kept the federal funds rate unchanged at the target range of 2.25 to 2.50 perce...Read More