The rise from the mid-August low continues.Consolidation at just under $1,300 per ounce.Rising open interest is a bullish sign.Three reasons for higher gold and a challenge of the 2016 peak.GDX and GDXJ could outperform gold and NUGT and JNUG are not for the faint of heart, but they could be explosive.The gold futures market has settled into a narrowing trading band that near the highest price for...Read More

Published 20 Hours AgoUpdated5 Hours AgoReuters Umit Bektas | ReutersGold slipped to the lowest in more than a week on Friday as hopes of a thaw in the U.S.-China trade dispute perked up stock markets, while palladium held above $1,400 on a supply crunch.Spot gold was down 0.68 percent to $1,282.57 per ounce. U.S. gold futures settled down $9.70 at $1,82.60 per ounce."Rising risk appetite among m...Read More

Our Adaptive Fibonacci modeling system is suggesting Crude Oil may have already reached very strong resistance levels just above $50 ppb. It is our opinion that a failed rally above $55 ppb will result in another downward price move where prices could retest the $42 low - or lower.You can see from this Daily Crude oil chart that price has formed a consolidated price channel between $50 and $53 ppb...Read More

A retired Brazilian Army officer who recently advised Canadian miner Belo Sun (TSX: BSX) about its plans to mine gold in the Amazon, will head the country's Indigenous Rights Agency (Funai) aiming at using his experience in the sector to deal with hundreds of impending clashes between miners and locals.Native descendant General Franklimberg Ribeiro de Freitas had run Funai until April 2018, but wa...Read More

A retired Brazilian Army officer who recently advised Canadian miner Belo Sun (TSX: BSX) about its plans to mine gold in the Amazon, will head the country's Indigenous Rights Agency (Funai) aiming at using his experience in the sector to deal with hundreds of impending clashes between miners and locals.Native descendant General Franklimberg Ribeiro de Freitas had run Funai until April 2018, but wa...Read More

Gold's 50-day moving average (MA) crossed the 200-day MA from below earlier this week, confirming the golden crossover - a long-term bullish indicator. So far, however, the golden crossover hasn't impressed the bulls. The yellow metal continues to trade in a narrowing price above $1,20. More importantly, a break above $1,300 will likely remain elusive, as the golden crossover is the result...Read More

Newmont Mining plans to acquire smaller rival Goldcorp for $10 billion in the biggest-ever acquisition in the gold sector.Read full newsRead More

Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average turned higher Thursday, rising for the third straight day in a row. U.S. stocks have closed with gains in seven of the past nine sessions.Morgan Stanley (MS) earned 80 cents a share in the fourth quarter, missing forecasts of 89 cents. The stock fell 4.4%.Netflix Inc. (NFLX)  will report earnings...Read More

Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday January 17, with zinc futures climbing just under 2% while positive trading in aluminium resulted in the metal's moderate volume the highest in today's trading. Zinc's three-month price rallied throughout the afternoon to breach its nearby $2,500-per-tonne resistance level and close at its highest level...Read More

The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More

China's exports of unwrought aluminium and aluminium products increased by 19.8% in December 2018 compared with December 2017, but down 0.6% from November 2018, according to preliminary Chinese customs data.China exported 527,000 tonnes of unwrought aluminium and aluminium products in December, a 87,000-tonne increase from the same month of 2017 and 3,000 tonnes less than in November 2018, customs...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday January 17 that are worth another look.China's auto sales fell last year for the first time since the 1990s, dampening expectations for steel demand in 2019 although some in the market think that there are still opportunities for steelmakers to remain profitable.The London Metal Exchange announced it will launch seven new...Read More

United States-based Alcoa, the world's eighth-largest aluminium producer, has forecast a surplus of alumina in 2019 while it increases metal production across the board.There was a 600,000-tonne deficit of alumina at the end of 2018, the company said, rounding off a year of record market tightness.Fastmarkets' alumina index rocketed upward to $707.75 per tonne on April 24, 2018, the highest since...Read More

Indonesia's Gresik 300,000 tpy copper smelter has yet to resume full operations after an earlier maintenance shutdown caused by an oxygen plant issue, Fastmarkets has learned. "The oxygen plant, which is operated by the third party has resumed, but not reached full operations. Therefore, although Gresik smelter has partially resumed since the middle of December 2018, it has not returned normal ope...Read More

Fastmarkets' minor metals team answers some of the key questions raised during our recent web seminar, discussing recent market trends in minor metals, and the factors expected to drive price moves in 2019. If you missed it, follow this link to listen to the free recording. Has smuggling affected any other metals apart from antimony? Is it only antimony that is being smuggled? It is not only antim...Read More

The London Metal Exchange has announced it will launch seven of its new cash-settled futures products on March 11, and has selected Fastmarkets to be the price provider for three of the new contracts.In total, there will be two new ferrous contracts, three new contracts into the LME's aluminium suite and two minor metals contracts. "The introduction of new contracts is a strategically important gr...Read More

Turkish steel producers have resumed their deep-sea scrap purchases for January-February at higher prices, sources said on Thursday January 17.Suppliers were seeking higher prices for their scrap because of the rise in collection costs during the difficult winter season, sources said.A steel producer in the Marmara region booked a Canadian cargo, comprising 17,000-20,000 tonnes of HMS 1&2 (90:10),...Read More

Former trader at Kyen Resources, Nishchay Chadha, has joined Viant Commodities as their head of trading in the Viant office in Singapore, Fastmarkets has learned. Chadha will oversee the refined metal and scrap trading business at Viant Commodities, a source close to...Read More

The import price for steel billet in Southeast Asia edged down on Thursday January 17 amid lower bids from buyers who expect further price drops, although trading activity has picked up in the region this week.Fastmarkets' daily import price assessment for billet in Southeast Asia was $445-448 per tonne cfr Manila on Thursday, narrowing downward by $2 per tonne on the high end from $445-450 per to...Read More

The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More