|Day's Range||14.63 - 14.66|
Some primary silver producers are no doubt feeling pain these days after the sell-off in silver prices so far this year, but don't look for major supply cutbacks any time soon, analysts said. Further, companies have become leaner in recent years, thus some of the major producers - such as Pan American Silver Corp.
Investing.com - Metal prices rebounded Thursday from a rout a day earlier as a subdued dollar and expectations for renewed U.S.-China trade talks supported sentiment, helping gold prices steady.
The gold prices broke down significantly during the Wednesday’s session as USD continues to strengthen. The Turkish situation is driving the overall forex and commodity market lower which is very negative for the market as it will restrict the bullish momentum. The silver prices fell hard during the yesterday’s session slicing through the $15 level as it reached down below the $14.50 level.
Investing.com - Gold prices dropped on Thursday while the U.S. dollar also slid despite higher demand in safe-haven assets amidst the Turkish lira crisis.
Investing.com - Metal prices were hurt by an ongoing rise in the dollar and worries that an economic crisis in Turkey could spread to emerging markets which would hit already fragile demand for commodities.
Investing.com - Gold prices fell to fresh one-and-a-half year lows on Wednesday as the broadly strong dollar continued to weigh on demand for bullion.
Gold’s price hits new 2018 lows as the US dollar continues to strengthen. Investors shift their funds to the American currency after the political turmoil in Turkey and other emerging markets.
(Reuters) - Hochschild Mining Plc (HOCM.L) reported on Wednesday a 90 percent jump in pre-tax profit for the first half, helped in part by higher grade ores from its Peruvian mines Inmaculada and Pallancata. ...
Silver markets broke down a little bit during the trading session on Tuesday after trying to rally, but I think the $15 level is going to continue to be an area of concern. I think longer-term buyers are most certainly interested in the area, and that area could even extend all the way down to the $14 handle. However, with the US dollar strength, it is an uphill battle to turn things around.
Gold markets bounced slightly during the trading session on Tuesday, and perhaps a bit of profit taking. The US dollar took a bit of a reprieve as well, as the Turkish lira recovered. At this point though, we have broken through a major level of support, so we could see further weakness.
Investing.com - Metal prices remained under pressure Tuesday as gold hovered just above $1,200, while copper fell sharply after the dollar printed fresh intraday highs for the year.
Based on the early price action, the direction of the October WTI crude oil market is likely to be determined by trader reaction to the main 50% level at $66.95.
Silver markets continue to drift lower as the US dollar was stronger during most of the trading session on Monday. However, as the US dollar lost a bit of strength, silver didn’t really rally, showing that we have a proclivity to continue to drift lower, perhaps looking for support at the round figure.
The British pound initially sold off as did most of the risk related currencies, but then turned around as the Americans came on board mainly due to structural support, and perhaps a little bit of help from turkey of all places.
Investing.com - Metal prices were rocked by Monday as gold fell to a 17-month low, pressured by rising geopolitical uncertainty and a stronger greenback.
Goldcorp (GG) has one of the strongest project pipelines in the industry. Goldcorp provided an update on the progress of these projects in its Q2 2018 earnings call. At Penasquito, the Pyrite Leach Project (or PLP) is 98.0% complete.
This week will start with investors continuing to wrestle with the storage deficit, rising demand and increased production. At this time, production seems to be meeting demand, thereby, having a limited effect on attempts to shrink the supply deficit. Based on this assessment, prices could continue to linger around the $3.00 level, while taking out $3.00 will require another round of lingering hot temperatures.
Despite posting its sixth straight weekly loss for its worst losing streak since August 2015, all it is going to take is one major supply disruption to fuel a breakout to the upside. “The recent cooling down of the market, with short-term supply tensions easing, currently lower prices, and lower demand growth might not last,” the IEA said in a monthly report.
The S&P 500 rallied significantly during the week, but by the time we closed out the weekly candle, we have given back most of the gains. In fact, it looks as if we are trying to form some type of shooting star, a very negative sign. A couple of weeks ago, we had formed one as well and we are close to the tops.
Silver markets continue to tread water, hanging between two support and resistance levels. The market has calmed down quite a bit, and I think that precious metals in general are starting to show a proclivity to recover from the significant losses that we have had.
Crude oil markets were very volatile during the week but held that crucial support levels on Friday to keep hope alive for the buyers. At this point, I anticipate that the market participants will continue to try to drive higher.