Category: Precious Metals

State-Owned Miner Takes up Gold Mining in India

Mining for gold is an expertise of which not too many Indian miners can boast. In fact, it makes up a minuscule portion of overall annual mining activities in the country. With neighboring China on the prowl for gold mining projects internationally, some recent news has brought some cheer to the gold sector in India. […]

Gold Has Tough First Half in Tandem With Strengthening U.S. Dollar

Gold Has Tough First Half in Tandem With Strengthening U.S. Dollar

No one can say the first half of 2018 was not an impactful time for metals markets, including safe-haven assets like gold. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook The World Gold Council’s first-half outlook report details the market forces at work behind the gold price’s recent drop, but also […]

Week in Review: Auto Hearings, Wind Energy, Cobalt and a Uranium Investigation

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner®: Need buying strategies for steel? Try two free months of MetalMiner’s Outlook India sought consultations with the U.S. over its steel and aluminum tariffs. The Department of Commerce launched anti-dumping […]

Global Precious MMI: Record-Low Prices Mark this Month – Are More Drops Coming?

Here’s What Happened MetalMiner’s Global Precious Monthly Metals Index (MMI), tracking a basket of precious metals from across the globe, dropped four points (a loss of 4.5%) for the June reading after holding flat for three straight months. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Incidentally, the July 2018 MMI […]

Why Has Gold Not Lived Up to Its Status as a Safe Haven?

Why Has Gold Not Lived Up to Its Status as a Safe Haven?

Stock markets in New York, London and Shanghai have been sliding for a month now since President Donald Trump unleashed a trade war on the U.S.’s trading partners in an effort to reset terms seen as unfair by Washington. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Normally, as stock markets […]

Global Precious MMI: Flat for Third Straight Month — But Don’t Take Your Eye Off Palladium

Global Precious MMI: Flat for Third Straight Month — But Don’t Take Your Eye Off Palladium

MetalMiner’s Global Precious Monthly Metals Index (MMI), tracking a basket of precious metals from across the globe, held steady for the June reading and remained at an index value of 88 for an unprecedented third straight month. The dog days of summer have begun early, much as they did during the summer of 2017. While […]

Chinese Mining Operations in Disputed Region Spark Controversy With India

It was a report in the Hong-Kong-based newspaper, the South China Morning Post that sparked it all off. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook The report claimed that India’s neighbor, China, had started large-scale mining operations in Lhunze county on its side of the “disputed border” with India in […]

Global Precious MMI: What’s in the Forecast for Platinum, Palladium Prices?

Global Precious MMI: What’s in the Forecast for Platinum, Palladium Prices?

MetalMiner’s Global Precious Monthly Metals Index (MMI), tracking a basket of precious metals from across the globe, held steady for April and remained at an index value of 88 for the second straight month. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Ultimately, all else being equal, we can attribute the […]

Global Precious MMI: Palladium, Platinum Prices Continue Holding Under $1,000/Ounce

Last month, in our headline for the monthly update article on the Global Precious MMI, we called out the fact that platinum and palladium prices had dropped. Then we asked: “Will it continue?”

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Well folks, if our Magic 8-Ball were to answer, it’d say — signs point to yes.
At least for this month’s index reading.
With losses in U.S. platinum and palladium pricing leading the way, our Global Precious Monthly Metals Index (MMI), tracking a basket of precious metals from across the globe, floated down yet again for April — dropping 1.1% and settling into a two-month downtrend.
(Last month, we had initially reported that before March’s drop, the index had been in a two-month uptrend. Correction: it had in fact been in a four-month uptrend at that point.)
Both stock markets and commodities markets have been in a bit of turmoil lately, with President Trump implementing tariffs on steel, aluminum and potentially 1,300 categories’ worth of additional Chinese imports mid-last month, and China coming back with retaliatory tariffs on a number of non-metal U.S. commodity exports.
It wouldn’t be a stretch to say that knock-on effects are being seen in the precious metals markets.
PGMs Lead the Way
Gold prices in the U.S., China and India were slightly up on the month (with the Japan price holding relatively steady), and even silver prices in China and India increased.
Yet platinum and palladium prices told a different story.
Both platinum and palladium bar prices dropped across all geographies (U.S., Japan, China) — the U.S. platinum bar price sunk 3.5% and the U.S. palladium bar price fell 3.2%.
The longer-term picture for platinum as a crucial component of industrial manufacturing continues to get murkier.
According to a Reuters interview with Bart Biebuyck, executive director of the European Commission’s fuel cell and hydrogen joint undertaking, “the volume of platinum used in fuel cell-powered cars could be cut to ‘micro levels’ within three years and eradicated altogether in a decade’s time, making these environmentally-friendly vehicles much cheaper to buy.”
He said the amount of platinum in the next generation of fuel cell cars had already been cut to levels similar to that used in the catalytic converters of diesel vehicles, which industry estimates put at 3-7 grams, according to Reuters.
With the automotive industry — which accounts for about 40% of platinum demand — looking to cut costs, that 3-to-7-gram range for diesel vehicles may steadily but surely decrease in coming years. That’s because, as we reported last month, the gradual but very real retirement of diesel engines across the European continent continued.
A German court ruled that cities have the right to ban diesel cars from driving the roads in certain areas. Of course, the Volkswagen scandal and its aftermath proved to be a big blow for diesel cars, as well.
If more diesel engines go extinct, with them will go corresponding PGM consumption for catalytic converters.
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Key Price Movers and Shakers

This Morning in Metals: Copper Hits Over One-Week High

This morning in metals news, copper hits an over one-week high, President Trump is pushing for a preliminary deal on the North American Free Trade Agreement (NAFTA) by mid-April and gold could reach $1,400 if a trade war ensues. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Copper Surges Strong manufacturing […]

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