Gold Cash (GCY00)
Gold Futures Market News and Commentary
The dollar index (DXY00) on Thursday rose +0.222 (+0.23%). On Thursday, the dollar recovered from early losses and posted moderate gains. After posting moderate gains Thursday morning, stocks trended lower and gave up most of their advance, which boosted liquidity demand for the dollar. Lower T-note yields Thursday initially weighed on the dollar.
EUR/USD (^EURUSD) on Thursday fell -0.0032 (-0.28%). EUR/USD on Thursday gave up an early advance and fell to a 1-week low. Dovish comments Thursday from ECB Governing Council member de Cos undercut the euro when he said under current conditions and inflation forecasts, "an increase in interest rates is not expected in 2022." EUR/USD on Thursday initially moved higher on signs of elevated producer price pressures in Germany that are hawkish for ECB policy after Thursday’s data showed German Dec PPI rose a record +5.0% m/m and +24.2% y/y (data from 1976), stronger than expectations of +0.8% m/m and +19.3% y/y.
USD/JPY (^U... Read more
- Steelmaker Warns of Rough Months Ahead for North American Steel Industry
The construction and automotive industries, which are considered as the key steel consuming sectors, are reportedly witnessing rising inventories.
- Barrick Gold Met Annual Guidance Target for 2021
The preliminary copper production of 415 million pounds for 2021 was also within the guidance range of 410-460 million pounds.
- 19th January, 2022: North American Copper Scrap Prices Soared on Index
Brass Radiator /Fe and Brass Radiator Ends prices maintained the previous day price levels.
- Talks Launched to Resolve U.S.-UK Trade Dispute Over Steel, Aluminum Tariffs
However, it did not mention any specific date or timeline for the talks.
- Antofagasta Hit Production Guidance for 2021
The group copper production during Q4 2021 was marginally lower than the prior quarter by 1.2% at 178,900 tonnes.
- Gold Fields Rejoined World Gold Council as its Member
Gold Fields was one among the founding members of the WGC, when it was formed in 1987.