Monthly Metal Review

Gold and Silver (March 2018)

In London, the Gold average fixing increased to US$ 1323.88 per ounce, and Silver decreased to US$ 16.28 per ounce this month. Gold climbed to a five-week high on safe-haven buying as the U.S. imposed metals tariffs on China and other nations. Gold futures climbed 1.7 percent on 23 March to US$1,349.90 an ounce, wrapping a weekly gain of nearly 3 percent amidst now-abated fears of a U.S-China trade war. The dispute caused stock markets world-wide to fall, bond yields to decline, and the dollar weaken; all gold-positive. Tariffs combined with s appointment of a foreign-policy hardliner as U.S. national security advisor, and the Federal Reserve’s lowering hawkish sentiment. But gold prices crept lower by late March amidst reports of China-U.S trade negotiations, which eased trade-war fears and improved investors' appetite for riskier as-sets. Spot gold fell 0.1 percent to US$1,352.40 per ounce, whist U.S. gold futures for April delivery fell 0.2 percent to US$1,352.20 per ounce. Primary gold production hit another record in 2017 after nine years of output growth, although at a slower pace, the World Gold Council reported. Global gold pro-duction totaled some 105 million troy ounces in 2017. Output is up 525 tonnes or nearly 17million ounces since the decade’s start. The top 10 listed, non-state owned gold miners are responsible for nearly 30 percent of global output. The top producing companies have remained stable, but the next few years will shake-up the industry's top tier Barrick Gold could lose its top-producer status this year. As gold is close to its 2016 high, silver has lots of catching up which could means that buyers will find their way back to the market sooner rather than later, the commodity options analyst Andrew Hecht said. The de-preciating dollar and global inflationary forces will also push for silver’s climb upwards as precious metals have historically held an inverse relationship with the dollar and both gold and silver have well performed during past inflationary periods.

Daily Prices

April 2018

Copper
Date(Fix.) ($/MT)
Average 6796.17
18-04-2018 6936
17-04-2018 6784
16-04-2018 6811.5
13-04-2018 6830
12-04-2018 6756
11-04-2018 6930.5
10-04-2018 6888
09-04-2018 6767
06-04-2018 6703
05-04-2018 6767
04-04-2018 6625
03-04-2018 6756
Silver
Date(Fix.) ($/OZ)
Average 16.52
18-04-2018 16.945
17-04-2018 16.625
16-04-2018 16.6
13-04-2018 16.505
12-04-2018 16.655
11-04-2018 16.565
10-04-2018 16.49
09-04-2018 16.34
06-04-2018 16.275
05-04-2018 16.305
04-04-2018 16.46
03-04-2018 16.52
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average 1338.55
18-04-2018 1346.55
17-04-2018 1342.95
16-04-2018 1344.4
13-04-2018 1340.75
12-04-2018 1345.9
11-04-2018 1345.2
10-04-2018 1335.95
09-04-2018 1328.5
06-04-2018 1325.6
05-04-2018 1327.05
04-04-2018 1343.15
03-04-2018 1336.6
Date(Fix.) ($/OZ)
Average 1339.24
18-04-2018 1349
17-04-2018 1342.525
16-04-2018 1346.875
13-04-2018 1342.225
12-04-2018 1343.625
11-04-2018 1347.975
10-04-2018 1337.45
09-04-2018 1330.225
06-04-2018 1328.4
05-04-2018 1327.375
04-04-2018 1340.225
03-04-2018 1335.025
Date(Fix.) ($/OZ)
Average 1339.94
18-04-2018 1351.45
17-04-2018 1342.1
16-04-2018 1349.35
13-04-2018 1343.7
12-04-2018 1341.35
11-04-2018 1350.75
10-04-2018 1338.95
09-04-2018 1331.95
06-04-2018 1331.2
05-04-2018 1327.7
04-04-2018 1337.3
03-04-2018 1333.45
Lead
Date(Fix.) ($/MT)
Average 2369.29
18-04-2018 2378
17-04-2018 2342
16-04-2018 2341.5
13-04-2018 2329
12-04-2018 2333
11-04-2018 2388
10-04-2018 2401
09-04-2018 2397
06-04-2018 2358.5
05-04-2018 2383.5
04-04-2018 2380
03-04-2018 2400
Zinc
Date(Fix.) ($/MT)
Average 3194.67
18-04-2018 3186.5
17-04-2018 3115
16-04-2018 3116
13-04-2018 3121
12-04-2018 3115
11-04-2018 3236.5
10-04-2018 3240
09-04-2018 3216.5
06-04-2018 3222
05-04-2018 3234
04-04-2018 3249
03-04-2018 3284.5
Tin
Date(Fix.) ($/MT)
Average 21230.42
18-04-2018 21725
17-04-2018 21725
16-04-2018 21075
13-04-2018 21190
12-04-2018 21000
11-04-2018 21175
10-04-2018 21375
09-04-2018 21100
06-04-2018 21050
05-04-2018 21075
04-04-2018 20860
03-04-2018 21415
Nickel
Date(Fix.) ($/MT)
Average 13785.42
18-04-2018 15105
17-04-2018 15105
16-04-2018 14150
13-04-2018 14005
12-04-2018 13585
11-04-2018 13740
10-04-2018 13700
09-04-2018 13240
06-04-2018 12890
05-04-2018 13285
04-04-2018 13060
03-04-2018 13560
Cobalt
Date(Fix.) ($/MT)
Average 91375.00
18-04-2018 91500
17-04-2018 91500
16-04-2018 91500
13-04-2018 92250
12-04-2018 91500
11-04-2018 91500
10-04-2018 91500
09-04-2018 91500
06-04-2018 91500
05-04-2018 91000
04-04-2018 88000
03-04-2018 93250