Three-month base metals prices on the London Metal Exchange were collectively higher during morning trading on Tuesday August 6, with lead futures leading the way with a 1.4% uptick.Pressuring the lead price lower in recent weeks, fresh inflows of just under 30,000 tonnes staggered across July 30-August 2 led the commodity to shed around 6% of its price and slip below the $2,000-per-tonne support...Read More
Hong Kong Exchange (HKEX) introduced six new dollar-dominated base metals mini contracts on Monday August 5 to provide more convenient arbitrage or hedging tools and a lower trading threshold for investors globally.The aluminium, zinc, copper, nickel, tin and lead contracts are cash-settled against the LME closing price of the third Wednesday of the spot month and trade on a monthly basis. There w...Read More
Aluminium premiums in Rotterdam and throughout Europe remained resilient through July, driven by tighter supplies in the region and favorable spreads on the London Metal Exchange.Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam, which is the region's benchmark, at a one-year high of $95-105 per tonne on Monday August 5. The premium, which rose to its current level on July 22...Read More
Merafe Resources' earnings fell by 45% in in the first half of the year due to lower chrome ore and ferro-chrome prices, it said.The South African chrome producer, which runs a joint venture with trader-miner Glencore, reported earnings before interest tax, interest, depreciation and amortization (Ebitda) of 435.1 million rand ($29.44 million) for the first six months of this year, down from 796.3...Read More
Ferro-chrome production cuts are likely due to today's low pricing environment, prompting a rebound in the market when supply surpluses shrink, Merafe Resources said on Monday August 5. The South African chrome producer, which runs a joint venture project with trader-miner Glencore, said price and exchange rate volatility are expected to continue to affect the market while global uncertainty will...Read More
Chinese imports of manganese ore totaled 15.7 million tonnes in the first six months of 2019, up by 27.8% from around 12.3 million tonnes in the corresponding period of 2018, according to official but unconfirmed data seen by Fastmarkets. In June, China imported about 2.03 million tonnes of manganese ore, marking an increase of around 3% from 1.97 million tonnes last June, despite being down by 39...Read More
The Chinese ferro-silicon market was unmoved over the past week, but is expected to weaken in line with soft consumer buying interest and futures prices. In Europe, spot ferro-silicon prices have pared losses against tighter availability, although the bounce may be limited given subdued buying interest from steelmakers. Chinese market prepares for price losses while steelmakers show resistance to...Read More
Metallurgical test work at Integra Resources (TSXV: ITR; US-OTC: IRRZF) DeLamar project in southwestern Idaho shows heap leaching is a viable option for a large percentage of the resource, the company says.Results from test-work at the project's Delamar and Florida Mountain deposits indicates recoveries as high as 85% for gold and up to 50% for silver. The results demonstrated recoveries of 80-90%...Read More
Subscribe to our channel! rupt.ly/subscribeRuptly is live from London on Saturday, August 3, as activists hold a rally to demand the release from prison of former English Defence League (EDL) leader Tommy Robinson, who was jailed for nine months for contempt of court.Robinson, whose real name is Stephen Yaxley-Lennon, was found guilty on July 11 of interfering in the trial of a sexual grooming gan...Read More
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Gold has reached a fresh high in Australian dollar terms today of A$2,224.53/oz and had hit a record high in British pounds on Monday of £1,209.55/oz, Reuters reported.It was above US$1,485 an ounce on the spot market earlier, a level last seen in April 2013.US market indices closed higher but Europe and Toronto ended in the red on Tuesday, while the Australian dollar has slid to its lowest...Read More
While trade war and global growth concerns have kept the price of zinc down, New Century managing director Patrick Walta sees some of the future developments that'll be needed to come on line asRead More
Do you know Tobey Gus?You might.Everyone knows an investor like Tobey.He may not have a Wall Street level of investment acumen at his disposal, but he knows enough to invest for his family's financial future.But Tobey has one fatal flaw when it comes to investing...He panics.Whether or not he realizes it, he's an emotional investor. One day his long-term confidence is unwavering; the next day his...Read More
Dear Friend of GATA and Gold:Over a weekend in April six years ago, without any corresponding news, the gold price was smashed out of the blue for nearly $200. For months before the smash analysts often said that China had put a floor under the gold price, buying whatever it could to hedge its U.S. dollar exposure without pushing gold's price up too much.That analysis made sense, since, with its...Read More
Stefan GleasonThe world is in the midst of one of the strangest asset bubbles of all time. Instead of being fueled by the hope of bigger and bigger gains, it is being driven by a resignation to incurring lower and lower... and ultimately negative, yields on capital.This summer, the global inventory of bonds yielding less than zero reached a record $13 trillion.Negative yielding instruments are c...Read More
Say what you will about last week, it certainly wasn't dull. The Federal Reserve, seemingly capitulating to President Donald Trump and Wall Street, became just the latest central bank to cut interest rates. Meanwhile, the president escalated the trade war even further, announcing that additional tariffs would be imposed on goods coming into the U.S. from China after another round of trade talks...Read More
David HaggithOn June 12, I wrote,The market is moving into waiting mode as the Fed's next FOMC meeting where they have the opportunity to live up to the rate-cutting hopes they've raised come next week. As it does, it is forming that topping pattern that keeps repeating at this level."Frothy Bubbles Make Me Whine" Now you can easily see in the chart below that certainly fits what happened with...Read More
Click to enlarge chartA Pittance for GeniusThe late John Scarne, one of the world great experts on gambling, once wrote a treatise explaining why you can't win at three-card monte. That's the game where a grifter lays three playing cards on a makeshift table, instructing you to follow the queen. He turns them face-down, flipping the queen over now and then to make it easier for you to keep tra...Read More
By: Ira EpsteinGold's 18-DMA now above $1,440+ Read More