Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Since its peak in the spring of 2020, the U.S. dollar index has lost almost 12 percent, and it could decline even further, thus supporting gold prices.There is a weakness in the U.S. dollar. Let’s start off by taking a look at the chart below. As you can see, the broad trade-weighted dollar index has been declining recently. Since its peak in late March 2020, the greenback has lost almost 12...Read More
Domestic prices for hot-rolled coil in Northern Europe have been supported by a material shortage in the market, sources told Fastmarkets on Tuesday March 16.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?792.50 ($943.31) per tonne on March 16, up by just ?,?1.25 per tonne from ?,?791.25 per tonne on Monday March 15.The index was also up by ?,?36....Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More
When considering the prospects for the new Shanghai International Energy Exchange (INE) copper contract, a senior executive at one of the world's largest metals trading companies quoted Hamlet's soliloquy in the Shakespearian play of the same name."In terms of promotion of the internationalization of the renminbi and weakening of the pricing power of the [London Metal Exchange] and CME: 'To be or...Read More
Treatment and refining charges for copper concentrate fell again to new 10-year-lows in the week ended Friday March 12, with Fastmarkets' copper concentrate index dropping to less than $30 per tonne/3 cents per lb for the first time.The spot market has been in a prolonged downtrend since 2014, but a recent bout of tightness has seen terms dip by 27% in the past two weeks.TC/RCs, which are discount...Read More
The prices of lead, zinc and copper showed the steepest declines on the London Metal Exchange at the close of trading on Tuesday March 16, with the US Dollar Index at its highest for a week at 91.91 and the market braced for a US Federal Reserve policy announcement on Wednesday."Market attention will turn to the US Federal Reserve's two-day policy meeting, which will conclude on March 17. The gene...Read More
Cancellations of aluminium out of London Metal Exchange warehouses in Port Klang, Malaysia, have begun, after more than 600,000 tonnes was delivered over the past week.About 85,000 tonnes were shown as freshly canceled on March 16, with 83,850 tonnes of that at Port Klang and additional, small cancellations in Johor and Singapore.Market participants told Fastmarkets they believe big queues could b...Read More
Three-month base metals prices on the London Metal Exchange were down across the board during morning trading on Tuesday March 16, with tin's price falling the most to $24,630 per tonne - this after the complex mostly ended in positive territory on Monday. "A slew of macro releases out of China also buoyed sentiment [on Monday]. In this regard, China's industrial output rose 35% in the first two m...Read More
If you have started looking around for 2021 silver eagles, you may have seen "emergency" silver eagles advertised for sale...by Larry White of the Gold & Silver Education CenterIf you have started looking around for 2021 silver eagles, you may have seen "emergency" silver eagles advertised for sale. The obvious question that may arise is - What in the world is an "emergency" silver eagle? Other qu...Read More
Once again, if you want to END the manipulative price suppression, which was THE WHOLE POINT of the "silver squeeze", you must...(by Half Dollar) I've been biting my tongue, but now I'm starting to throw up a little bit in my mouth, so I can bite no longer.Why has the silver squeeze failed to see silver thrusting above $30 since the end of January?I won't call out specific people, because I have t...Read More
At some point, maybe already, the world will reach Peak Silver Production. When that occurs, investors will... by Steve St Angelo of SRSrocco ReportWith the results finally out, the top Silver Mining Industry's average yield fell to the lowest level ever. While the pandemic shutdowns reduced overall silver production significantly, it didn't impact the ore grades all that much. Since 2005, t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view. This month's key North American steel forecast highlights: US hot-rolled coil prices continued to move in line with our forecasts in February, although actual prices again modestly exceeded our forecasts. Domestic HRC prices averaged $1,194 per ton in February, exceeding our forecast price of $1,150 per ton for the month. U...Read More
Export prices for steel billet in the Black Sea basin have continued to soften in mid-March amid a lack of trading activity, Fastmarkets has heard.Customers preferred to refrain from billet bookings while the costs for steel scrap and finished long steel products were falling.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $430.63 p...Read More
The prices of lead, zinc and copper showed the steepest declines on the London Metal Exchange at the close of trading on Tuesday March 16, with the US Dollar Index at its highest for a week at 91.91 and the market braced for a US Federal Reserve policy announcement on Wednesday."Market attention will turn to the US Federal Reserve's two-day policy meeting, which will conclude on March 17. The gene...Read More
RAPAPORT... The World Diamond Council (WDC) and the Responsible Jewellery Council (RJC) have agreed to work together on key issues such as the Kimberley Process (KP), conflict diamonds and sustainability.The two organizations have entered into a cross-membership partnership, meaning the RJC has become a member of the WDC, and the WDC has become a member of the RJC, they said Tuesday. The grou...Read More
RAPAPORT... US e-commerce sales will hit $1 trillion for the first time next year, as the pandemic continues to impact consumer habits, Adobe Analytics predicted Monday.Digital spending will reach $850 billion to $930 billion this year based on the current growth trajectory, the company noted. Between March 2020 and February 2021, online sales rose 20% year on year to $844 billion, a difference of...Read More
RAPAPORT... Arctic Canadian Diamond Company has appointed former Northwest Territories (NWT) mining minister Wally Schumann as its senior adviser on aboriginal and northern affairs."[Schumann] joins the company at a very exciting time, as we embark on the next stage of our journey with Ekati, and renew...relationships with our employees, stakeholder communities in the north, the government of the...Read More
RAPAPORT... The Gemological Institute of America (GIA) has started providing specific information on post-growth treatments for synthetic diamonds, marking the latest shift in its approach to the category.The institute's Laboratory-Grown Diamond Reports now say if there is evidence of a treatment to change the color of a stone, or if there is no evidence, a GIA spokesperson told Rapaport News...Read More
(IDEX Online) - VILLAGERS in south-eastern Zimbabwe claim they're being evicted from their homes to make way for gold and diamond mining - rather than dairy farming.Over 12,000 residents of Chilonga Village, in Chiredzi, say the project proposed by President Emmerson Mnangagwa is a "cover story".They say the real reason they're being removed is to allow large-scale mineral extraction in...Read More
Treatment and refining charges for copper concentrate fell again to new 10-year-lows in the week ended Friday March 12, with Fastmarkets' copper concentrate index dropping to less than $30 per tonne/3 cents per lb for the first time.The spot market has been in a prolonged downtrend since 2014, but a recent bout of tightness has seen terms dip by 27% in the past two weeks.TC/RCs, which are discount...Read More