Nasdaq Commodities

FXEmpire.com - Market Overview Oil prices dropped this week, reflecting weak fuel demand and comments from U.S. Federal Reserve officials that reduced hopes for imminent inte

FXEmpire.com - Market Overview Natural gas futures closed lower on Friday but marked a strong week overall, buoyed by decreasing production levels and robust demand linked to liquefied natural gas (LNG) exports. This positive momentum allowed natural gas to secure gains for the s

Gold and silver prices were on the move this week, with the former rising above US$2,370 per ounce on Friday (May 10), and the latter hitting US$28.67 per ounce that same day. Both pulled back slightly to finish. Market participants continue to digest the US Federal Reserve's decision to leave interest rates unchanged, and a recent Gallup poll shows that persistent inflation is affecting the public's faith in Chair Jerome Powell. While 39 percent of US adults have a “great deal” or a “fair amount” of confidence that he will do the right thing for the economy, that's up only 3 percent from a year ago, when Powell was taking heat for rising prices. Confidence in Powell is much higher among Democrats than Republicans at 56 percent vs. 30 percent.Across the pond, all eyes were on the Bank of England, which like the Fed held rates steady at its latest meeting; however, officials seem relatively confident that inflation is being reined in, with rate cuts possible in June.CME Group's (NASDAQ:CME) FedWatch tool shows the Fed is expected to leave rates unchanged at its June and July meetings, with a 50.3 percent likelihood of a cut in September. The next consumer price index reading is due on May 15. Bullet briefing — South Koreans buy gold, Argentum loses silver claim South Korean retail investors snap up goldSouth Koreans are eager to get their hands on gold, and retailers are delivering. Since April, the country's largest convenience store chain has been selling miniature gold bars weighing between 0.1 and 1.87 grams, and they're flying off the shelves — 1 gram bars reportedly sold out within two days, with people in their 30s being strong buyers.Another chain, called GS25, is even selling gold wafers from vending machines.If you've been following gold demand trends, this story out of South Korea will likely sound familiar. It's similar to the "gold beans" spree that swept China earlier this year, and it's also in the same vein as Costco's (NASDAQ:COST) foray into gold sales. While the experts I've spoken with have emphasized that buying gold in such small denominations generally isn't cost effective, they've been encouraged to see wider demographics take an interest in gold.Argentum loses salvaged silver claimArgentum Exploration, a company owned by GB News investor Sir Paul Marshall, has lost a legal battle with South Africa over 2,364 salvaged silver bars worth an estimated US$42 million.Back in 2017, Argentum recovered the silver from a WWII-era shipwreck in the Indian Ocean. It launched a claim for salvage, but South Africa said it was the rightful owner — the metal was sold to the country by India for use in South African and Egyptian coins, but the vessel transporting it was sunk by Japanese torpedoes. Although South Africa didn't ask Argentum to retrieve the metal, several courts have now ruled against Argentum, making South Africa immune to its claim. The parties reportedly came to a private agreement prior to the judgment. Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.And don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Gold and silver prices were on the move this week, with the former rising above US$2,370 per ounce on Friday (May 10), and the latter hitting US$28.67 per ounce that same day. Both pulled back slightly to finish. Market participants continue to digest the US Federal Reserve's decision to leave interest rates unchanged, and a recent Gallup poll shows that persistent inflation is affecting the public's faith in Chair Jerome Powell. While 39 percent of US adults have a “great deal” or a “fair amount” of confidence that he will do the right thing for the economy, that's up only 3 percent from a year ago, when Powell was taking heat for rising prices. Confidence in Powell is much higher among Democrats than Republicans at 56 percent vs. 30 percent.Across the pond, all eyes were on the Bank of England, which like the Fed held rates steady at its latest meeting; however, officials seem relatively confident that inflation is being reined in, with rate cuts possible in June.CME Group's (NASDAQ:CME) FedWatch tool shows the Fed is expected to leave rates unchanged at its June and July meetings, with a 50.3 percent likelihood of a cut in September. The next consumer price index reading is due on May 15. Bullet briefing — South Koreans buy gold, Argentum loses silver claim South Korean retail investors snap up goldSouth Koreans are eager to get their hands on gold, and retailers are delivering. Since April, the country's largest convenience store chain has been selling miniature gold bars weighing between 0.1 and 1.87 grams, and they're flying off the shelves — 1 gram bars reportedly sold out within two days, with people in their 30s being strong buyers.Another chain, called GS25, is even selling gold wafers from vending machines.If you've been following gold demand trends, this story out of South Korea will likely sound familiar. It's similar to the "gold beans" spree that swept China earlier this year, and it's also in the same vein as Costco's (NASDAQ:COST) foray into gold sales. While the experts I've spoken with have emphasized that buying gold in such small denominations generally isn't cost effective, they've been encouraged to see wider demographics take an interest in gold.Argentum loses salvaged silver claimArgentum Exploration, a company owned by GB News investor Sir Paul Marshall, has lost a legal battle with South Africa over 2,364 salvaged silver bars worth an estimated US$42 million.Back in 2017, Argentum recovered the silver from a WWII-era shipwreck in the Indian Ocean. It launched a claim for salvage, but South Africa said it was the rightful owner — the metal was sold to the country by India for use in South African and Egyptian coins, but the vessel transporting it was sunk by Japanese torpedoes. Although South Africa didn't ask Argentum to retrieve the metal, several courts have now ruled against Argentum, making South Africa immune to its claim. The parties reportedly came to a private agreement prior to the judgment. Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.And don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

FXEmpire.com - Natural gas rises to a new trend high before hitting resistance at 2.34, the high for the day. It sold off from there intraday and is trading near the lows of the day at the time of this writing. Today’s high was a little shy of the next potential resistance zone,

FXEmpire.com - Natural Gas Natural Gas 100524 Daily Chart Natural gas pulls back as traders take some profits off the table ahead of the weekend.

FXEmpire.com - Gold Gold 100524 Daily Chart Gold tested new highs despite rising Treasury yields. Demand for gold stays strong as traders bet that central banks will keep buying gold for reserves.

In a bid aimed at fortifying Australia's position as a global leader in critical minerals and renewable energy, the Albanese government has announced a 10 year, AU$566.1 million investment into critical minerals exploration. “There is no nation on earth better placed than Australia to achieve our goal of moving toward a clean energy future,” remarked Prime Minister Anthony Albanese in a Wednesday (May 8) press release. “This investment highlights my Government’s commitment to building a secure and sustainable future for all Australians. By investing significantly in geoscience, we can boost our progress towards net zero,” he added.The funding will be channelled into delivering essential data, maps and tools for the resource industry in order to aid in the identification of new mineral deposits and energy sources.Geoscience Australia, a government agency, will spearhead the effort to deploy top geoscientists to fully map Australian resources and chart a course for future exploration endeavours.The investment will also fund Resourcing Australia’s Prosperity for 35 years, and will extend its mapping efforts to offshore areas for the first time, identifying sites for carbon capture and storage, as well as clean hydrogen projects. “The Albanese Government has put the resources industry at the heart of its policy making because it knows a strong resources sector means a strong Australia,” said Madeleine King, minister for resources.“The Albanese Government has put the resources industry at the heart of its policy making because it knows a strong resources sector means a strong Australia,” she further commented.The initiative aims to stimulate exploration activity across Australia, where 65 companies are already exploring across 569 tenements, covering over 290,000 square kilometres of the country. Deloitte Access Economics estimates that existing public pre-competitive geoscience has supported AU$76 billion of value added to the Australian economy and 80,000 full-time equivalent jobs in the 2021/2022 period alone. AMEC welcomes Australian resource sector funds In its own press release, the Association of Mining and Exploration Companies (AMEC) welcomed the Albanese government's AU$566.1 million investment in the country's resource sector. “We are delighted to see the Federal Government re-invest in the critical and highly successful program, extending it out to the end of the decade,” said AMEC Chief Executive Warren Pearce. “Some 80 per cent of Australia is unexplored. This program has the potential to open new mineral jurisdictions and unlock immense new mineral wealth for Australia.”In its federal budget submission for the 2024/2025 period, AMEC outlined three key priorities: the expansion of the Exploring for the Future Program, the retention of the Diesel Fuel Credit and the introduction of a 10 percent production tax credit. Two out of three of those points have now been achieved. ​Australia’s critical minerals future The Australian government identified 31 resource commodities as critical minerals in its February 2024 list.The selections were made based on the country’s geological potential and global technology needs, particularly those of key partner countries like the US, the European Union, India, Japan, South Korea and the UK.Australia's government is also keeping a close eye on increasing global demand for key resources. In 2022, the nation maintained its position as the world's leading lithium producer, contributing 52 percent of global production.Additionally, it ranked among the top five producers for cobalt, manganese ore, rare earths, rutile, tantalum and zircon.To meet growing demand, Australia's resource industry has ramped up exploration and resource definition efforts. Economic inventories for 13 critical minerals saw notable increases in 2022, including manganese, platinum-group elements, rare earths and nickel, among others.Looking ahead, the country remains committed to supporting the development of its critical minerals sector, with ongoing initiatives to identify and advance new projects. Don't forget to follow us @INN_Australia for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Confirmation of this trend would be a breach above $30.00, likely triggering a surge towards $40 between June and August.

In trading on Friday, shares of Alpha Metallurgical Resources Inc (Symbol: AMR) crossed below their 200 day moving average of $290.42, changing hands as low as $289.00 per share. Alpha Metallurgical Resources Inc shares are currently trading off about 3.3% on the day. The char

FXEmpire.com - Natural Gas Weekly Technical Analysis As I take a look at the natural gas markets on the weekly time frame, and well, we did it. We broke above the $2 level. We are showing a little bit of weakness on Friday, but overall, this has been a very strong week, and we co

FXEmpire.com - Natural Gas Technical Analysis You can see we initially did try to rally a bit during the trading session on Friday but gave back gains to show hesitation. That’s not a huge surprise considering how much momentum and energy has been expended to break out and above

FXEmpire.com - Futures Fluctuate Amid Mixed Signals Natural gas futures experienced fluctuations as the market grappled with mixed signals from recent developments in LNG operations and storage levels. Despite an uptick in Freeport LNG feed gas flows and a bullish report on stora

FXEmpire.com - Market Overview Oil prices are set to conclude the week with a 2% gain, bolstered by encouraging signs from China and a softening dollar, despite geopolitical

Magnesite, an industrial metal, plays a key role as a refractory material in steel fabrication, as a catalyst and filler in the production of synthetic rubber and as a material in the production of magnesium chemicals and fertilizers. The global magnesite market had an estimated value of US$12.37 billion in 2023, and is projected to reach US$14.9 billion in 2028 on rising demand from the construction, chemical, metallurgical and automotive industries.The US Geological Survey estimates that worldwide magnesite reserves stand at 7.7 billion metric tons (MT). Worldwide, magnesite production reached 22 million MT in 2023, mostly on par with the previous year.While Russia dominates in terms of magnesite reserves, China leads the world in magnesite production. Here the Investing News Network looks at the top countries for magnesite mining. 1. China Mine production: 13 million MTChina is the world's top country for magnesite mining by far, accounting for roughly 60 percent of worldwide output. The country's production saw no growth compared to last year's output. The Asian nation is also the principal exporter of the material to the US and many other markets across the globe. In 2023, China's magnesite exports to India grew by 9 percent due to increased demand for steel fabrication to supply the latter's infrastructure projects. China represents a major market for magnesite in its own right, accounting for about 65 percent of total global consumption. However, strict environmental regulations in the country have resulted in the closure of several key magnesite mines. 2. Turkey Mine production: 1.8 million MTNext is Turkey, whose magnesite output came to 1.8 million MT in 2023, just 20,000 MT fewer than it produced in 2022. Magnesite production in the country has significantly decreased in recent years, falling from 2.7 million MT in 2017.Turkey has a long history of magnesite mining, both for export and for use at domestic refractories. Akdeniz Mineral Resources, a joint venture with private company Grecian Magnesite, is a large producer and exporter of caustic calcined magnesite products. 3. Brazil Mine production: 1.7 million MTBrazil's magnesite production has remained relatively flat in recent years. A critical point in Brazil's magnesite industry came in 2017 with the merger of RHI of Austria and Magnesita Refratários of Brazil to form RHI Magnesita, which then became the world's largest refractory materials producer. RHI Magnesita is also reported to own the largest magnesite reserve outside of China. 5. Russia Mine production: 950,000 MTRussia's magnesite-mining output has dropped significantly in recent years, sinking from 1.5 million MT in 2020 to 950,000 MT in 2023. The country hosts the largest reserves of magnesite in the world, coming in at 2.3 billion MT.One of the key players in the Russian magnesite space is Magnezit Group, which is actively working to expand production capacity at its Kirgiteiskoye and Talskoye deposits by overhauling existing facilities and building new facilities. 5. Australia Mine production: 860,000 MTAustralia's magnesite production has risen steadily in the past few years, moving it up from near the bottom of the list of top magnesite-mining countries to the second spot in 2021 with 2.7 million MT. However, the nation recorded a dramatically-reduced magnesite-mining output of 860,000 MT in both 2022 and 2023. Private company Queensland Magnesia is responsible for the bulk of Australia's magnesite production. QMAG Pty Ltd, part of the Refratechnik group, is mining one of the world's largest magnesite mines, the Kunwarara deposit in central Queensland. An examples of a magnesite-focused junior mining companies operating in Australia is Lachlan Star (ASX:LSA) with its Princhester magnesite project also in Queensland. 6. Austria Mine production: 810,000 MTAustria's magnesite mining output has remained relatively flat in recent years, with levels in a range of 760,000 MT to 810,000 MT. Austrian magnesite producer Styromag operates five mines in the country; it produces roughly 120,000 MT of material per year."In January 2023, an Austria-based magnesia and refractories company acquired a leading refractory producer in China, allowing it to expand production in China and the east Asia region," reported the USGS. 7. Spain Mine production: 670,000 MTSpain's magnesite output has more than doubled since 2016, coming in at 670,000 MT in 2022. Spain's Magnesitas Navarras is a leading European magnesia producer. In early 2024, the company received government approval for a project that will allow it to operate a new mine in the Erdiz region for 25 years. 8. Slovakia Mine production: 510,000 MTSlovakia produced 510,000 MT of magnesite in 2023, a slight decrease of 2,000 MT versus what it produced a year earlier. Slovakian producer SLOVMAG is majority owned by Russia's Magnezit Group. It specializes in mining magnesite ore and producing refractory products from sintered magnesia. 9. Greece Mine production: 380,000 MTGreece produced 380,000 MT of magnesite in 2023, on par with the year before. The country is home to one of the top magnesia producers in the world, Grecian Magnesite, which has facilities in Spain, Turkey and the Netherlands. Greece's magnesite mines and production facilities are located in the Chalkidiki peninsula in Northern Greece.The Turkish subsidiary of the Greece-based magnesia producer is slated to construct a new rotary kiln in 2024, which the USGS says is expected to double "its current production capacity of caustic-calcined magnesia to around 50,000 tons per year." 10. Saudi Arabia Mine production: 340,000 MTRounding out the list, Saudi Arabia put out 340,000 MT of magnesite in 2023, displacing Iran for the tenth spot on this list. The country's major producer is Ma’aden Industrial Minerals Company which produces caustic calcined magnesite from its a high-grade magnesite mine at Al Ghazalah. Don't forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural gas triggered a bullish continuation today as it rallied above the prior trend high of 2.27. It is on track to possibly close above that price level and confirm the breakout. It will be a clearer sign of strength if it does close above 2.27. Resistance for

FXEmpire.com - Natural Gas Natural Gas 090524 Daily Chart Natural gas gains ground as traders react to the EIA report, which indicated that working gas in storage increased by 79 Bcf from the previous week, compared to analyst consensus of +87 Bcf.

FXEmpire.com - Gold Gold 090524 Daily Chart Gold gains ground as U.S. dollar declines after the Initial Jobless Claims report, which indicated that 231,000 Americans filed for unemployment benefits in a week.

FXEmpire.com - On May 9, 2024, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by 79 Bcf from the previous week, compared to analyst consensus of +87 Bcf.

FXEmpire.com - Natural Gas Technical Analysis We rallied a bit during the early hours on Thursday as we continue to dance around the $2 level in the natural gas markets. We have broken out of a massive consolidation rectangle, so it does make a certain amount of sense that we are