The Copper Monthly Metals Index (MMI) held flat for this month’s reading. After the mid-October spike, copper prices have begun to consolidate. Any bullish technical patterns are at risk of invalidation, as prices appear to trade consistently lower. Additionally, its failure to break out of any bullish structures within smaller time frames suggests a weakness […]
Tag: Federal Reserve
Global Precious MMI: Gold price falls as dollar gains in September
The Global Precious Monthly Metals Index (MMI) lost ground this month, dropping by 12.9% as the gold price declined and the dollar strengthened last month. More MetalMiner is available on LinkedIn. Gold slides, dollar gains The U.S. gold bullion price fell in September, dropping from $1,814 per ounce as of Sept. 1 to $1,757 on […]
Housing starts drop by 10.3% in frigid February; Fed holds off on rate hike
After what was a frigid month across the country, February housing starts declined in the US. February saw a historic chill in Texas and elsewhere in the region — in addition to inclement weather in other, traditionally colder parts of the country — that led to many losing power and a decline in natural gas […]
This Morning in Metals: Gold price, US dollar retrace while Bitcoin surges
This morning in metals news: the gold price continues to slide; the Federal Reserve released its latest Monetary Policy Report; and the record freeze in Texas is disrupting natural gas production. Gold price weakens After surging to around $2,035 per ounce in August, the gold price for the most part trended in a band between […]
Fed: October 2020 industrial production rises 1.1%
The Federal Reserve reported October 2020 industrial production rose 1.1%. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. October 2020 industrial production rises Per the Fed, October 2020 industrial production rose but remained 5.6% lower than the pre-pandemic level in February. However, the Fed also noted the industrial production […]
Federal Reserve: September 2020 industrial production slides 0.6%
The Federal Reserve reported September 2020 industrial production slipped 0.6% in September. While not a precipitous drop, the September drop broke a streak of four straight months of gains. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. September 2020 industrial production still below pre-pandemic levels According to the Fed, […]
This Morning in Metals: U.S. Steel reports Q2 net loss of $589M
This morning in metals news: U.S. Steel released its second-quarter earnings results; Nucor Corporation also reported its own financial earnings; and the Federal Reserve opted to maintain its federal funds rate.
Fed: U.S. industrial production rises 1.4% in May as automakers restart production
While positive coronavirus cases are on the rise in several parts of the country, industrial production bounced back in May after posting the largest monthly drop in the history of the Federal Reserve’s industrial production index in April.
This Morning in Metals: Federal Reserve maintains federal funds rate at 0-0.25%
This morning in metals news, the Federal Reserve on Wednesday opted to maintain the federal fund interest rate at 0-0.25%, the Producer Price Index for final demand rose 0.4% in May and Chinese rebar futures fell Thursday.
Fed’s industrial production index posts largest drop in 101-year history
The COVID-19 pandemic continues to wreak havoc on economic activity around the world. That impact was particularly noticeable on the U.S. industrial sector last month.