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PRECIOUS-Gold prices recover on short-covering

17 Thursday May 2018

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Gold nugget

* Dollar index hovers near 5-month high
* Benchmark U.S. Treasury yield hovers around 3 percent
* Spot gold may bounce to resistance at $1,302/oz-
technicals

By Apeksha Nair
BENGALURU, May 16 (Reuters) – Gold prices recovered some
lost ground on Wednesday on short-covering after prices fell to
the lowest level this year in the previous session on surging
U.S. bond yields and a stronger dollar.
Spot gold rose 0.3 percent to $1,294.30 per ounce at
0639 GMT, after shedding 1.7 percent and marking the lowest this
year at $1,288.31 in the previous session.
This was also the lowest price level for the yellow metal
since Dec. 28.
U.S. gold futures for June delivery were up 0.3
percent at $1,293.60 per ounce.
“Rising U.S. bond yields and a stronger dollar were factors
behind gold’s decline below the $1,300 level. The slight pick up
suggests that there might have been some opportunistic buying on
the part of investors,” said John Sharma, an economist with
National Australia Bank.
A stronger dollar makes greenback-denominated gold more
expensive for holders of other currencies, while rising U.S.
yields tend to weigh on bullion’s non-yielding appeal.
The dollar on Wednesday hovered near a five-month high
against a group of major currencies, boosted by a surge in the
benchmark 10-year Treasury yield after strong U.S. retail data
on Tuesday.
Meanwhile, Asian shares were under pressure after North
Korea cancelled high-level talks with Seoul, denouncing military
exercises between South Korea and the United States and throwing
into question next month’s unprecedented summit between Kim Jong
Un and U.S. President Donald Trump.
While global political tensions continued to provide
safe-haven support to the metal, investors said the main price
drivers would likely remain a stronger dollar and rising U.S.
interest rates.
“There are lot of geopolitical risks but people are just
used to it. Therefore it has not become a big driver for gold,”
said Helen Lau, analyst at Argonaut Securities.
Higher interest rates in the United States amid a rising
dollar will continue to add downward pressure on gold, Lau said.
Spot gold may bounce to a resistance at $1,302 per ounce,
before falling again, Reuters technical analyst Wang Tao said.

In other precious metals, silver was up 0.4 percent
at $16.30 per ounce after falling about 1.6 percent on Tuesday
in its biggest one-day percentage decline since April 23.
Platinum rose 0.4 percent to $897 an ounce, while
palladium eased 0.1 percent to $981.72 an ounce after
recording the biggest single-day percentage loss in two weeks at
1.3 percent in the previous session.

(Reporting by Apeksha Nair and Eileen Soreng in Bengaluru;
Editing by Sunil Nair)

via PRECIOUS-Gold prices recover on short-covering | Metals & Mining | Reuters

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PRECIOUS-Gold firms as dollar rally cools, U.S.-Iran tensions heat up | Metals & Mining | Reuters

11 Friday May 2018

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gold bars* U.S. consumer price data weaker than expected
* Dollar slips from 4-1/2-month peak
* U.S.-Iran tensions support gold prices

(New throughout, updates prices, market activity and comments;
adds second byline and NEW YORK dateline)
By Renita D. Young
NEW YORK/LONDON, May 10 (Reuters) – Gold rose on Thursday as
the U.S. dollar backed away from 2018 highs after
weaker-than-forecast U.S. inflation data and as tensions between
the United States and Iran also supported the precious metal.
The dollar slipped from a 4-1/2-month peak after U.S. data
showed the Consumer Price Index rose 0.2 percent in April, less
than the 0.3 percent increase that had been forecast. A weaker
dollar makes dollar-priced gold cheaper for non-U.S. investors.

Also helping gold, viewed as a safe-haven investment, was
U.S. President Donald Trump’s move on Tuesday to withdraw from a
nuclear accord with Iran, raising the risk of conflict in the
Middle East.
Israel said on Thursday it had attacked nearly all of Iran’s
military infrastructure in Syria after Tehran fired rockets at
Israeli-held territory.
“We’ve seen a (dollar rally) in the last few weeks, but
actually gold hasn’t gone down as far as you might think, so
political tensions are helping,” said Macquarie commodities
strategist Matthew Turner.
Turner said the dollar was the main driver for gold and he
expects the precious metal to come under pressure in the near
term, with the dollar extending its rally.
Spot gold rose 0.6 percent at $1,320.53 per ounce by
1:34 p.m. EDT (1734 GMT). During the session it touched
$1,322.76, a 10-day high. U.S. gold futures for June
delivery settled up $9.30, or 0.7 percent, at $1,322.30 per
ounce.
Risk appetite among investors limited gold’s gains. Global
equities hit a three-week high as rising oil prices boosted
energy companies, offsetting increased political uncertainty.

“It appears as though the investment side of the equation
has not attracted a lot of attention,” said Rob Lutts, chief
investment officer of Cabot Wealth Management
“We are at the lower end of the range. It appears we could
drift back up to $1,350, but longer term. We really need to see
more investment.”
North American gold-backed exchange-traded funds registered
inflows in April at their highest level since September 2017,
with safe-haven purchases ushered in by a trade stand-off
between the United States and China, Syria tensions and worries
about possible U.S. sanctions on Russia.
In other precious metals, silver gained 1.4 percent
at $16.72 an ounce after earlier hitting a two-week high at
$16.74.
Platinum rose 1.7 percent at $925.40 per ounce,
earlier hitting $926.20, a two-week high. Palladium rose
2.6 percent at $1,000.70 per ounce, earlier seeing $1,002.10, a
2-1/2-week high.

(Additional reporting by Apeksha Nair in Bengaluru; editing by
David Goodman and David Gregorio)

via PRECIOUS-Gold firms as dollar rally cools, U.S.-Iran tensions heat up | Metals & Mining | Reuters

Global Dental Implant and Prosthetic Market Is expected to Witness a CAGR of 7.2% During 2018-2024

08 Tuesday May 2018

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Associate Dentist

NEW YORK, May 07, 2018 (GLOBE NEWSWIRE) — The global dental implant and prosthetic market is expected to grow from USD 8,879 million in 2017 to USD 14,490 million in 2024 at a CAGR of 7.2% during the forecast period. The key factors driving the growth of the market include increasing incidences of dental diseases, growing geriatric population, and increasing awareness and concerns about oral diseases. Moreover, technological advancements in dental implantation and growing demand for cosmetic dentistry are further propelling the market growth. However, high cost of dental implantation may inhibit the market growth.

Tooth loss is a very common problem; therefore, dentistry employs the use of dental implants to provide support for replacement of damaged teeth and missing teeth. Researches on dental implant designs, dental materials, and new techniques have increased in the past few years and expected to become more popular in the coming years, due to growing demand for cosmetic dentistry. Healthcare researchers recently have turned to nanotechnology to target therapeutics to specific locations to develop better biomaterials, surface modification, and implant design.

Nanotechnology can create the surface with controlled topography and develop novel implant surface with predictable tissue-integrative properties. The technology has made it possible to coat the dental implant with a thin film of calcium phosphate; it provides helps in the attachment of the bone with the implanted teeth, and faster healing after the dental implant surgery.

Browse full research report with TOC on “Global Dental Implant and Prosthetic Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024” at: https://www.energiasmarketresearch.com/global-dental-implant-prosthetic-market-report/

Read more via: https://globenewswire.com/news-release/2018/05/07/1497273/0/en/Global-Dental-Implant-and-Prosthetic-Market-Is-expected-to-Witness-a-CAGR-of-7-2-During-2018-2024.html

Are The Precious Metals Percolating For A Big Move? | Seeking Alpha

08 Tuesday May 2018

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Since the beginning of 2018, gold has been stuck in a trading range between $1310 and $1360. Silver has ranged between $16.20 and $17.50, though primarily between $16.80 and $16.25 since February. So what’s next? While most analysts base their views largely on chart technicals, I have found – at least for me – the Commitments of Traders “tea

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Ticker

 leaves” is a more reliable forecasting tool. Friday’s COT report showed a continuation of the trader positioning pattern that I believe will support the next big move higher.

Elijah Johnson and James Anderson invited me on to their weekly Metals and Markets podcast to discuss why I believe the metals may be bottoming. In addition, we discuss the why Amazon.com (NASDAQ:AMZN) and Tesla (NASDAQ:TSLA) are horrifically overvalued:

via Are The Precious Metals Percolating For A Big Move? | Seeking Alpha

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PRECIOUS-Gold prices crawl up as dollar pauses rally | Reuters

07 Monday May 2018

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American Gold Coin

BENGALURU, May 7 (Reuters) – Gold prices edged up in early
trade on Monday as the dollar took a breather after climbing to
its highest level this year in the previous session.

FUNDAMENTALS
* Spot gold rose 0.2 percent to $1,316.62 per ounce
at 0034 GMT.
* U.S. gold futures for June delivery were up 0.2
percent at $1,317.20 per ounce.
* The dollar index , which measures the greenback
against a basket of six major currencies, was steady at 92.547
after hitting its best since December at 92.900 on Friday.

* U.S. job growth increased less than expected in April and
the unemployment rate dropped to near a 17-1/2-year low of 3.9
percent as some out-of-work Americans left the labor force.
* Two Federal Reserve officials who are currently voting
members of the U.S. central bank’s rate-setting committee said
on Friday they were keeping an open mind on the total number of
interest rate rises needed this year.
* U.S. interest rate futures rose modestly on Friday, as
traders still expect the Federal Reserve to raise key borrowing
costs at its June 12-13 policy meeting in the wake of
weaker-than-forecast growth in domestic payrolls and wages in
April.
* Euro zone business growth dimmed again in April but the
picture remained relatively bright as new business stayed
buoyant and firms managed to build up backlogs of work, a survey
showed on Friday.
* SPDR Gold Trust , the world’s largest gold-backed
exchange-traded fund, said its holdings fell 0.17 percent to
864.13 tonnes on Friday from 865.60 tonnes on Thursday.

* Hedge funds and money managers trimmed their net long
positions in COMEX gold contracts in the week to May 1, U.S.
Commodity Futures Trading Commission (CFTC) data showed on
Friday.
* Demand for physical gold barely changed in major Asian
hubs last week even as global prices weakened, while a
correction in local rates in India prompted retail consumers and
jewellers to start purchases.
* The World Gold Council, owner of the world’s largest
gold-backed exchange traded fund (ETF), is launching a new fund
with a cut-price management fee to fend off rivals with lower
charges, a source familiar with the matter told Reuters.

via PRECIOUS-Gold prices crawl up as dollar pauses rally | Reuters

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CFTC Fines Two UAE Traders $2.7 Million Over Precious Metals Spoofing | Finance Magnates

04 Friday May 2018

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Photo: Reuters

The US Commodity Futures

Trading Commission (CFTC) has fined two gold futures traders from the UAE over allegations that they schemed to manipulate the precious metals futures market through a trading tactic known as ‘spoofing’.

Heet Khara and Nasim Salim, both are former traders of CME Group’s gold and silver futures contracts, were hit by $2.7 million in penalties for engaging in disruptive trading practices by placing bids and offers with the intent to cancel them before execution. The abuses of United Arab Emirates residents allegedly occurred between February 2015 through at least April 28, 2015.

Spoofing, in general, is a practice in which a trader floods the market with fake orders by entering and quickly canceling large buy or sell orders on an exchange, in order to fool other traders into thinking that the market is poised to rise or fall.

Read more via CFTC Fines Two UAE Traders $2.7 Million Over Precious Metals Spoofing | Finance Magnates

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One of the Rarest Precious Metals Hits a Record High – Bloomberg

27 Friday Apr 2018

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Iridium

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One of the least known precious metals hit a record on healthy demand from the car industry and for growing crystals used in mobile phones.

 Iridium, one of the platinum-group metals, has climbed 12 percent this year, outperforming everything from nickel to gold. As the second-densest element and with one of the highest melting points among metals, it’s sought after for its use in spark plugs and glass manufacturing.

 

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Your smartphone is a mine of precious metals and elements

20 Friday Apr 2018

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photo courtesy of samsung.com

Take a good look at your smartphone. From the display and metal casing to the circuit boards that power the device, your phone is a mine of precious metals.

The average smartphone contains small amounts of gold, silver, platinum and palladium. But mining these metals from ore can be arduous; it takes a tonne of ore to get 1g of gold. Stripping them from existing mobile phones is not easy but can yield a surprising amount of material.

Copper and aluminium, typically lower value than precious metals, can also be found in your smartphone, in the casing or the circuit board.

There is more than just precious metals in your smartphone. Rare earth elements can be found in everything from the glass display to magnets in speakers. Despite the name, rare earth elements aren’t actually that scarce; they can be found in the earth’s crust but are difficult to mine. Such elements can include yttrium and gadolinium in the display; neodymium which is often used in headphones or speakers and microphones; lanthanum to make the tiny lens in the camera that much better; and praseodymium, also for headphones.

Lithium triangle

Then you have to look at the battery that powers it. Smartphones predominantly have lithium ion batteries, which require lithium. Extracted from salt lakes, much of it comes from the so-called “lithium triangle” that includes Bolivia, Chile and Argentina.

Cobalt is also used in smartphone batteries. Around half the world’s cobalt comes from the Democratic Republic of Congo in central Africa. It’s essential for lithium-ion batteries, but there are ethical considerations. There is a link between cobalt mining and child labour, and the region is plagued by corruption and conflict.

A considerable amount of the cobalt – about one fifth – in the region is extracted by artisanal miners, who work by hand. The work is hazardous and can have health implications, from lung conditions and breathing issues caused by the dust to a link to premature births and birth defects in miners’ families.

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PRECIOUS-Gold on track for second weekly gain as Syria concerns linger

13 Friday Apr 2018

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Weighing in on the precious metal market

By Renita D. Young and Zandi Shabalala
NEW YORK/LONDON, April 13 (Reuters) – Gold prices rose on
Friday, heading for a second consecutive weekly gain on
lingering uncertainty over Western military action in Syria.
U.S. President Donald Trump and his national security aides
on Thursday discussed options on Syria, where he has threatened
missile strikes in response to a suspected poison gas attack, as
a Russian envoy voiced fears of wider conflict between
Washington and Moscow.
Trump, however, cast doubt over the timing of his threatened
strike, tweeting that a U.S. attack “could be very soon or not
so soon at all”.
Spot gold increased 0.7 percent at $1,344.40 per
ounce by 1:38 p.m. EDT (1738 GMT), set for a weekly gain of
nearly 1 percent. U.S. gold futures for June delivery
settled up $6, or 0.5 percent, at $1,347.90.
Gold is often used as a store of value in times of political
and economic uncertainty.
“Donald Trump back-pedaled a bit in his morning tweet
yesterday, but the danger is still there that the situation
could escalate with Russia due to a military attack on Syria,”
Quantitative Commodity Research consultant Peter Fertig said.
“We are back at a cold war, which easily could turn into a
hot war if someone loses their nerve – and in such a situation,
gold is a haven.”

Read more via PRECIOUS-Gold on track for second weekly gain as Syria concerns linger

Gold, Silver Slightly Lower Amid Upbeat Risk Appetite | Kitco News

10 Tuesday Apr 2018

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(Kitco News) – Safe-haven gold and silver prices are slightly lower in early U.S. trading Monday. Higher world stock markets overnight are a negative for the competing asset class of precious metals. However, a slightly weaker U.S. dollar index today is working in favor of the metals bulls. June Comex gold futures were last down $0.60 an ounce at $1,335.40. May Comex silver was last down $0.007 at $16.355 an ounce.

U.S. stock indexes are also pointed toward higher openings when the New York day session begins, which suggests better investor risk appetite in the marketplace to start the trading week. Still, traders and investors are wondering if the high volatility in the stock market will continue this week. Such would favor the stock market bears and the precious metals market bulls.

The markets have not reacted significantly to reports of missile strikes on the Syrian military overnight, after weekend reports that the Syrian army has used poison gas on its civilians. Reports said the missile strikes came from Israeli jets.

The U.S.-China trade dispute simmered down a bit during the weekend. Trump administration officials said on Sunday that trade sanctions against China are not imminent and there is time to work out a solution to the matter.

The key “outside markets” on Monday morning see the U.S. dollar index slightly lower. The greenback is seeing a corrective pullback today after hitting a five-week high on Friday. Meantime, Nymex crude oil prices are higher and trading just below $63.00 a barrel.

Read more via Gold, Silver Slightly Lower Amid Upbeat Risk Appetite | Kitco News

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