Silver

The US dollar index has declined 6% since its peak in mid-March.

Why Manufacturers Need to Ditch Purchase Price Variance

This decline gave a boost to commodities and, of course, precious metals were not left behind. However, their upside moves look anything but impressive. Despite the weaker dollar, it seems as if precious metals are having a hard time moving away from their lows.

Gold prices rose a shy 6% since mid-May. The yellow metal is still near record lows. A bit more encouraging is the move silver is making, up 12% since mid-May. The grey metal, however, is still near record lows as well. The metal is trading at $17.71/oz and we’ll see if it can break medium-term resistance at $18.5/oz.

A bit more encouraging is the move silver is making, up 12% since mid-May. The gray metal, however, is still near record lows as well. The metal is trading at $17.71/oz and we’ll see if it can break medium-term resistance at $18.5/oz.

Platinum is up 7%. A very small movement compared to its huge decline since summer last year. The metal has a long way up to reach last year’s levels.

Palladium rose 8% after making a 1-year low in March. Palladium is clearly the best performer among precious metals but since summer of last year is also being dragged down with the rest of precious metals.

What This Means For Metal Buyers

Recent weakness in the dollar is giving a boost to precious metals. However, these price movements have been quite shy so far. It still makes sense to be long-term bullish on the dollar and bearish on precious metals.

{ 0 comments }

US Sen. Lisa Murkowski, (R-Alaska), last week, introduced the American Mineral Security Act of 2015, a bill that promises “to prevent future mineral supply shocks and boost the competitiveness of our energy, defense, electronics, medical, and manufacturing industries.”

Free Download: Cut Your Iron Ore Shipping Costs

The AMSA would require that the director of the US Geological Survey establish a list of minerals critical to the American economy and provide a comprehensive set of policies to address issues associated with their discovery, production, use, and reuse. It also would require that the federal government establish a methodology for the designation of critical minerals, based on potential supply disruptions and the importance of their use, and require the list to be reviewed and updated at least every two years.

Critical Minerals

There are also changes in permitting, the Federal Register process and the bill would extend an executive order issued by President Obama in 2012, regarding the permitting of important infrastructure projects, to mines that produce critical minerals and critical mineral manufacturing projects. The full bill is available online at the Senate website.

{ 0 comments }

This month our base metals took a big tumble. Some industrial metal prices that faltered in January fell of a steeper cliff.

Free Download: Trade Automation Can Save Millions

The Copper MMI®, Raw Steels MMI® and Construction MMI® all recorded drops of more than 5% and only our Global Precious Metals MMI® and Rare Earths MMI® were able to post price increases this month as low oil prices continued to drag down other commodities.

For full access to this MetalMiner membership content:
Log In |

Gold and Silver are significantly up since November. Although the move is worth watching, we need to remember that prices don’t move in a straight line, they zig-zag.

FREE Download: The Monthly MMI® Report – covering Steel/Iron Ore markets.

We pointed out last week that gold was showing strength. However, silver seems weaker than gold. While gold is only off 5% from hitting a 10-month high (see orange arrow), the gray metal is still 20% off (see dark blue arrow).

{ 0 comments }

We have briefly covered Greece’s decision to vote in the far left “anti-austerity” Syriza party in posts this week, mentioning the short-term impact it has had on copper and gold prices.

Don’t miss this free download of our Monthly MMI® Report, covering price trends in 10 metals markets.

In truth, though, the outcome of the election had been largely priced into both commodity prices and foreign exchange rates, so although the euro weakened on the news it has not crashed. Switzerland’s removal of the Franc’s peg to the euro had more impact and the European Central Bank’s annnouncement of a quantitative easing program was equally disruptive. But Syriza’s election and formation of the government with the help of the far-right Independent Greeks party will certainly start a period of considerable volatility in European markets as negotiations are conducted in the glare of publicity, and no doubt behind closed doors, about Greece’s future in the European single currency.

{ 0 comments }

Any failure to meet austerity commitments to the European Central Bank, International Monetary Fund and European Commission next month by Greece will see the next tranche of loans not being paid by the troika of at the end of February. As liquidity from the ECB to Greece’s banks dries up, a banking crisis will ensue.

Don’t miss this free download of our Monthly MMI® Report, covering price trends in 10 metals markets.

Not surprisingly, private money is already heading for the door, some €8 billion of deposits have been pulled since November when the election was called. So, who will blink first? Syriza or the troika?

{ 0 comments }

Price volatility was the name of the game when it came to precious metals in 2014.

FREE Download: The Monthly MMI® Report – covering the Precious markets.

Even though a relatively small portion of our intended metal buying audience purchases gold, silver, platinum or palladium for manufacturing, these precious metals made a big impact in 2014.

{ 0 comments }

The winter of commodity metals’ discontent has begun, and the sun of higher oil prices does not seem likely to shine until at least the second quarter of 2015.

Don’t miss this free download of our Monthly MMI® Report, covering price trends in 10 metals markets.

How bad has the sell-off been for base and precious metals the past week? Well, not good. Our lead forecasting analyst, Raul de Frutos, analyzed some of the metals’ positions and not only will their stockings be filled with low-priced coal, but some of them are also on the supply-and-demand naughty list.

{ 0 comments }

Gold and silver have hit 6-week highs! What’s happening with these precious metals?

FREE Download: The Monthly MMI® Report – covering the Precious markets.

Well, some are saying that they are up on safe-heaven demand, on cautious comments from the US Federal Reserve or on on strong seasonal demand. It could honestly be anything and we don’t really care what’s driving these spikes.

{ 0 comments }

Our MetalMiner IndX tracks worlwide metal prices every day. The global precious metals – palladium, platinum, silver and gold – are followed mainly for their potential as investments, but their appeal as industrial metals came to the fore again this week.

FREE Download: The Monthly MMI® Report – covering the Precious markets.

The film industry, banking transparency, renewable energy technology, cleaner emissions and even rural electrification all exist because of how hard the precious metals work. If you weren’t thanking gold, silver, platinum and palladium yesterday then you should apologize and ask for forgiveness right now!

{ 0 comments }