Weak Zirconium Demand Depleting Hafnium Stock Piles
Hafnium, an unknown-to-mainstream metal, has seen sharp price increases, rising from about $500-600 per kg last year to its current price around $1,000 as stock piles continue to be depleted.
Read moreIf You Want A Rainbow, You Gotta Put Up With Rain – TD Securities
As gold continues to suffer amid a strong U.S. dollar rally and chatter of Federal Reserve rate hikes, TD Securities says the metal is fully in a “rain” period but hopeful for a “rainbow to emerge soon.” “Today was the lowest PM fix since Nov 2014 and it seems very likely gold now targets $1130 and then $1100,” says Steve Scacalossi, head of sales of global metals at the bank. “The shorts are in full command with little reason for a rally other than the usual dovish Fed inspired short covering rally,” he adds. However, it is not all bad news for the metal as Scacalossi says Asian demand has been strong and physical bars are starting to move again in the region. “Gold now needs to form a convincing base to see a rebound.”
Gold Hovers Near 3.5-Mo. Low as Surging U.S. Dollar Keeps Buyers Scarce
(Kitco News) – Gold prices are modestly lower and holding just above Tuesday’s 3.5-month low in early U.S. trading Wednesday. The powerful rally in the U.S. dollar index continues to cast a bearish pall over the precious metal.
Prices And Unemployment Rate Biggest Contributors To Gold Recycling Sector – WGC
(Kitco News) – Gold recycling is expected to face continued headwinds this year, according to the latest research from the World Gold Council (WGC).
Read moreCan Commodity Prices Resist Further Dollar Strength? – Capital Economics
It is important to look at the reasons for U.S. dollar appreciation to see where commodity prices – and gold prices – are headed, said one UK-based research firm.
Read moreGold Ends Down, at 3.5-Month Low, Amid Fully Bearish Outside Markets
Gold prices ended the U.S. day session moderately lower and hit a 3.5-month low Tuesday. Sharp gains in the U.S. dollar index, which hit a 12-year high, and lower crude oil prices were bearish outside market forces working against the precious metals …
Read moreGold Hasn’t Reached “Maximum Pain” Just Yet – Triland Metals
Although overall sentiment seems to be bearish for gold, analysts at Triland Metals say there may still be more wiggle room. “We do not believe that we are at the point of maximum pain just yet,” they say Tuesday. “[W]e look to see further weakness in the sector as we approach the impending rate rise in the US,” they add. However, they note that at the point where the U.S. Federal Reserve decides to raise rates, “the bullish cash may be as strong as ever.” For now, they say there are no technical levels of interest and the market is likely to hit more downside targets, at which point the market will experience short squeezes. “[W]e would expect such rallies to be sold into,” they note.
Gold Market Continues Further ETF Outflows After Friday’s Selloff
After a strong start to the year, investors interest appears to be waning as gold-backed exchange traded funds (ETF) continue to see outflows following Friday’s massive selloff.
Gold Pushes Above Unchanged on Short Covering, Bargain Hunting, U.S. Stock Market Sell Off
Gold prices have moved to slightly higher levels in mid-morning dealings Tuesday. Some mild short covering and would-be bottom-picking are featured after prices overnight hit a 3.5-month low. The U.S. dollar index has also backed off from its daily hi…
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