David Hargreaves on Exchange Traded Metals, week 39 2014
Neither the movement in warehouse stocks nor metal prices was indicative and whilst the pressure remains down, some trends emerge. Indonesia has compromised with Newmont, to allow…
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David Hargreaves on precious metals, week 38 2014
Our friend the gold price was sitting outside the bar, dribbling into a half pint of lemonade, sobbing uncontrollably. We tried to comfort him. “Cheer up”, we said, “Things…
David Hargreaves on the price of gold
Let’s not speak of it dropping like a stone, but the gold price is coming off rapidly towards our $1200/oz resting place. Not yet at Goldman’s chosen $1050 nor remotely…
David Hargreaves on Precious Metals, week 36 2014
So gold only slipped a notch, $20 to $1266 this week, a mere 1.5%, but it has anchored below the $1300 upsidebreakout level, despite political turmoil. The raging bulls are, to…
David Hargreaves on Exchange Traded Metals, week 35 2014
Curious state of affairs in the base metals this week. Warehouse stocks nosed up, zinc by almost 12%, tin too was up 9%, perhaps a reaction to Indonesia and its miners smoking the…
David Hargreaves on Bulk Minerals, week 35 2014
The UK Daily Telegraph, which makes the readings of Genghis Khan sound positively left wing, clearly needed a mining story this week, so it picked on the hapless, iron ore. No…
David Hargreaves on Precious Metals, week 33 2014
Gold ended the week down $10/oz and it could have been more. It hangs on to that $1300 bar as though its life depends upon it. Were the dollar not weak, it would be more. That…
David Hargreaves on Exchange Traded Metals, week 32 2014
The LME metals were static to down-a-bit, as warehouse stocks were static to up-a-bit bar copper, whose inventories dropped almost 8% and are well below those of its fellows in…
David Hargreaves on Precious Metals, week 30 2014
It has surprised many – if not most – that whilst competing political tensions have escalated – in the Russia/Ukraine and Israel/Palestine theatres – the gold price has…
David Hargreaves on Precious Metals, week 28 2014
What to make of precious metal prices is starting to perplex. Gold made a further advance, 1.2% to $1335/oz, whilst platinum tailed it with just 0.7% to $1508. Each trails its…