Daily FNArena News - Commodities

Why isn’t gold rallying at a time of possible financial market crisis?

Recent weakness in nickel prices reflects a growing view the market is heading from balance to a widening surplus, causing a number of analysts to lower their forecasts.

The Silver Stock report argues Swiss gold sales will not impact the market while gold watcher James Turk calls a new technical low.

Just when gold bulls were hoping European central banks sales were coming to an end, along comes Switzerland.

State-owned Chinese aluminium giant Chinalco has acquired Canadian-listed Peru Copper in a portent of things to come.

RBC Capital Markets advises any short-term seasonal weakness in silver prices is an opportunity as the medium-term outlook is positive.

Recent spot trades at US$138/lb have prompted more brokers to reassess their uranium price forecasts.

Macquarie and NAB have this week put up lengthy arguments for a higher US dollar gold price.

Two auctions in the past week have pushed up the spot uranium price by double digits. With another auction coming up in two weeks US$150/lb doesn’t look that far off anymore.

Excessive gold sales from the ECB and individual European central banks have acted as a tonne weight on the gold price, but now the ECB has called it quits for the fiscal year.