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Category Archives: precious metal market

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

27 Friday Apr 2018

Posted by landisrefining in gold, market, precious metal market, scrap gold, scrap precious metals

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Iridium

photo courtesy of periodictable.com

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.

 

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

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Your smartphone is a mine of precious metals and elements

20 Friday Apr 2018

Posted by landisrefining in market, precious metal market, scrap gold

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elements, precious metal, scrap precious metals, smart phone

smartphones-galaxy-great-black

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.

Read more via Your smartphone is a mine of precious metals and elements

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

13 Friday Apr 2018

Posted by landisrefining in gold, market, precious metal market

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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

Posted by landisrefining in dental scrap, gold, market, precious metal market, scrap gold, scrap precious metals

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gold market, kitco, metal market, scrap precious metal, silver market

stock market

Photo courtesy of colourbox.com

(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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Will Gold Keep Reacting to US-China Trade War Jitters? – Market Realist

06 Friday Apr 2018

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Gold Bars

Will Gold Keep Reacting to US-China Trade War Jitters?

By Meera Shawn

9 hours ago

Trade war jitters?

Among the four precious metals that we’ll be discussing in this series, only gold saw gains on Wednesday, April 4. Gold prices for April futures were up 0.23% and closed at $1,335.8 an ounce. Silver was down 0.84% to close at $16.2. Platinum was down 1.4% and was the biggest loser among the four precious metals. It ended the day at $912.1 an ounce. Palladium was also lower by 1.1% and closed at $918.9 per ounce.

The rise in gold was most likely due to the ongoing unrest in the markets due to the US and China trade war. China said that it would impose additional tariffs on $50 billion worth of US imports. The tariffs would include products ranging from cars, chemicals, tobacco, and whiskey. This made markets jittery, which led the US dollar to fall and pushed gold higher. The sentiment didn’t provide a substantial impact on the other three precious metals.

Gold price versus Volatility Index 2018-03-26

 Correlated moves

The above chart compares the performance of gold to the volatility index (or VIX). It is a barometer for overall uncertainty in the market. The higher chances that we could see weak markets led to a rise in this index.

We have seen that gold has a strong relationship with market unrest (VIXY) (VXZ). The higher the tensions in the market, the higher the demand for gold. As gold is famous as a safety asset, investors often jump to this reserve-for-safety. Though the short-term relationship between gold (IAU) and VIX can diverge in a more extended run, we can expect the two to track each other.

Some of the mining companies that also increased on Wednesday with gold include Cia De Minas Buenaventura (BVN), Eldorado Gold (EGO), Alacer Gold (ASR), and Coeur Mining (CDE). They were up 2.4%, 2.5%, 1.5%, and 2.3%, respectively.

via Is Gold Still Taking Cues from Downturn in Equities? – Market Realist

Precious Metals First Quarter 2018 Review And The Outlook For Q2 2018 – ETFS Physical Precious Metal Basket Trust ETF (NYSEARCA:GLTR) | Seeking Alpha

03 Tuesday Apr 2018

Posted by landisrefining in gold, market, precious metal market, scrap precious metals

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dental precious metals, first quarter, gold market, silver

dental scrap, Landis refining, gold scrap
Weighing in on the precious metal market

Summary

Gold is the only precious metal that moves higher in Q1.

Silver underperforms and posts a loss for the first quarter.

Continued weakness in platinum.

Palladium rises to a new record high, reverses, and posts the biggest loss in the sector.

Bullish and bearish factors facing precious metals in Q2.

The precious metals sector of the commodities market posted an overall loss in the first quarter of 2018.

The composite of the four precious metals that trade on the COMEX and NYMEX divisions of the CME dropped by 8.10% in 2014. The sector fell by 19.46% in 2015, but in 2016, precious metals gained 11.71 %. Precious metals moved 20.19% higher in 2017 posting its second consecutive annual gain. In Q1 2018, the sector moved 4.08% lower in a corrective move led by losses in palladium and silver. The sector declined despite a continuation of weakness in the US dollar which declined by 2.19% over the three-month period.

 

Read More via Precious Metals First Quarter 2018 Review And The Outlook For Q2 2018 – ETFS Physical Precious Metal Basket Trust ETF (NYSEARCA:GLTR) | Seeking Alpha

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