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
U.S. Trade Representative Robert Lighthizer is optimistic on talks with ChinaDow Jones Industrial Average (DJIA) futures are downthis morning, as investors around the world nervously monitor the G-20 summit unfolding in Buenos Aires, Argentina. All eyes are on President Donald Trump and Chinese leader Xi Jinping, who are expected to meet -- along with White House advisor Peter Navarro -- tomorro...Read More
Global ferrous scrap prices continued to trend downward during the working week from Monday November 26 to Friday November 30, due to poor demand and lackluster sales of finished steel.Turkish scrap import prices and US export scrap prices fell due to weak market sentiment in Asia, while persistently poor demand continued to weigh on Asian scrap import prices. Indian import prices also slipped on...Read More
CloseGain/LossOn WeekGold $1221.70-$2.20-0.09%Silver$14.17-$0.13-0.49%XAU64.46-0.52%-1.24%HUI145.04-0.93%-1.88%GDM531.74-0.56%-1.54%JSE Gold1098.81-25.26-3.68%USD97.19+0.41+0.29%Euro113.20-0.69-0.08%Yen88.21-0.09-0.62%Oil$50.93-$0.52+1.01%10-Year3.002%-0.027-1.22%Bond140.71875+0.59375+0.49%Dow25538.46+0.79%+5.16%Nasdaq7330.54+0.79%+5.64%S&P2760.16+0.82%+4.85% The Metals: ...Read More
Sentiment in the European austenitic alloy scrap market has been negative and mills have continued to drag prices downward, sources told Fastmarkets on Friday November 30."Demand [for alloy steel scrap] is slow and sentiment in both the raw material and stainless steel markets is negative. The mills are trying to get...Read More
XAU/USD: Gold prices retreats to 1223.60 support What is going on with XAU/USD? XAU/USD: Gold prices bounced in yesterdays session at 1211.00 support in the 60 minutes price chart. The pair pierced through it 500 EMA at 1218.95 and reached 1226.00 before pulling back to its 500 EMA. Gold prices extended its run to the upside during the overnight session and reached 1229.00 before retreating to 122...Read More
As you may have heard, there has been mayhem in the crypto markets.For a while, it seemed like crypto markets were immune to the carnage in stock and bond markets around the world. In recent weeks, that has changed in a big way. After a period of sideways trading and low volatility, the crypto crash of 2018 resumed in full force.The cryptocurrency market as a whole shed nearly $95 billion in eleve...Read More
Kirkland Lake Gold (TSX, NYSE:KL; ASX:KLA) announced that its Fosterville Mine is expected to break its own record quarterly production in the fourth quarter of 2018. Full-year production is now forecasted at 330,000 ounces. Previously reported guidance was established at 300,000-310,000 ounces.In a press release, Kirkland Lake Gold said Fosterville's strong Q4 2018 performance reflects higher tha...Read More
Domestic prices for stainless steel in Europe have remained under pressure from competitive trading, both with imports from Asia and between domestic suppliers, sources told Fastmarkets on Friday November 30.Transaction prices for grade-304 cold-rolled (CR) stainless sheets were assessed at ?,?2,100-2,150 ($2,389-2,446) per tonne delivered on November 30, down by ?,?50 per tonne from ?,?2,150-2,20...Read More
Aurania Resources' (TSXV: ARU) exploration team announced the discovery of silver-lead-zinc mineralization in grab samples that run as high as 325 g/t silver, 48% zinc, and 39% lead in its Lost Cities – Cutucu project in Ecuador.In a media statement, the Toronto-based miner said that the discovery was made between the new Tiria epithermal gold-silver target and the Jempe copper porphyry zone...Read More
There is little doubt that 2018 has been a rough year for investors and traders alike. Stock favorites like FaceBook and Apple have turned from soaring eagles into quail shot out of the sky. Steady trends have turned into choppy, confusing whipsaws. In this climate, gold is often a refuge. This chart of GLD, a popular gold Exchange Traded Fund (ETF) shows tha...Read More
South African manganese ore miner United Manganese of Kalahari (UMK) has declared force majeure on manganese ore shipments from the port of Saldanha, Fastmarkets MB understands.UMK, which produces just above 3 million tonnes per year of manganese ore, ships about half its monthly exports from Saldanha. South Africa's state transport...Read More
The latest metal markets news and price moves to start the North American day on Friday November 30.Most base metals prices ticked higher in morning trading on the London Metal Exchange on Friday November 30, with lead the best performer of the morning.Lead led the complex gains, with the three-month...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday November 30.Base metals prices on the Shanghai Futures Exchange broadly consolidated during Asian morning trading on Friday, with the market focused on the upcoming Group of Twenty (G20) summit in Argentina - where US President Donald Trump and his Chinese counterpart Xi Jinping are due...Read More
Fastmarkets rounds up some of the key news and price moves across the global metals markets this week.Base metalsCodelco's copper production and earnings fell in the first nine months of 2018, the Chilean state-owned copper producer said.Australian-Chinese miner MMG Ltd has completed the sale of its Sepon copper gold mine to China's Chifeng Jilong Gold Mining for $275 million, the company said.Alu...Read More
Gold has crossed the trendline falling from, the Oct. 26 and Nov. 7 lows. The bull breakout, however, would be confirmed above the horizontal resistance at $1,230 (Nov. 21 high). Daily chart As can be seen above, the yellow metal closed at $1,223 yesterday, confirming an upside break of the falling trendline resistance. The long upper shadow of yesterday's candle, however, takes the shine...Read More
London Metal Exchange members are considering a multitude of ways to continue to service their EU clients in the event that a financial services deal is either not forthcoming or does not go far enough when the UK finally leaves the European Union. Some companies have even told their LME sales teams they need to be prepared to move to another major European city to be able to legally service their...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More
The SPDR Gold Shares GLD, -0.17% and rival gold-backed exchange traded funds traded modestly higher Wednesday after Federal Reserve Jerome Powell said interest rates are close to "neutral." Three interest rate hikes this year and the subsequently stronger dollar are among the most widely cited reasons for explaining gold's struggles this year. GLD, the largest gold ETF by assets, entered Wednesday...Read More
When the London Metal Exchange finished its 12-step warehouse reform package, it proved once more that you cannot please all of the people all of the time. It faced some inevitable criticism of the rules, in particular that the LME went too far in certain areas and should consider tweaking or rolling back some of its reforms. In particular, the focus of attention was on the load-in, load-out (LILO...Read More
Titans of the mining industry who have led the industry through myriad storms for decades are set to retire over the next few years, a once-in-a-generation turnover that has sparked a search for fresh talent with far different skills than current executives.Ivan Glasenberg, chief executive of mining giant Glencore Plc since 2002, said last month he would retire over the next three to five years, s...Read More