Comex Gold Ends Solidly Lower on Weak Long Liquidation, Margin-Call Selling

Comex December gold futures prices ended solidly lower Monday, and in the middle of a wide daily trading range, amid more margin-call selling and the liquidation of weak long positions. Prices early Monday spiked to a fresh 2.5-month low of  $1,535.00 an ounce. The late-Friday announcement that the CME Group once again has raised margin requirements for gold and silver futures added to strong downside price pressure that has hit the precious metals markets recently and has produced serious near-term chart damage. December gold last traded down $41.70 an ounce at $1,598.10 an ounce. Spot gold last traded down $61.30 an ounce at $1,596.50. December Comex silver last traded down $0.006 at $30.095 an ounce.

 

Gold prices careened sharply lower in Asian trading overnight but then made a strong rebound from those early lows. Many traders in many markets have adopted a "when in doubt, get out" mentality due to the keener uncertainty in the market place at present. Margin calls from brokers to traders are also forcing liquidation in the precious metals. Veteran market watchers know that trading markets--especially those shorter-term traders (as opposed to the longer-term buy-and-hold investors)--can become a "money game" when markets start moving wildly on a daily basis and the traders are forced to liquidate positions due to margin calls and extreme price volatility. That's when overall market fundamentals are at least temporarily ignored by traders. Being on the wrong side of margin call liquidation and panic selling can be an ugly part of being involved in shorter-term trading. gold ore mining crusher

 

The world stock markets saw some stabilization Monday, following recent strong selling pressure. The European Union sovereign debt situation remains a major issue in the market place. There was no major breakthrough on the crisis during weekend meetings among EU and IMF officials. The EU debt situation had been an underlying bullish underlying factor for gold. However, it now appears likely that the present problems regarding EU debt have been factored into present market prices and it will take a major new development on that front to significantly move markets.

 

The U.S. dollar index is traded steady to weaker Monday afternoon after hitting a fresh 7.5-month high overnight. The dollar index bulls have the solid near-term technical advantage and the stronger U.S. dollar index is a major bearish factor for the gold market at present.  belt conveyors machine

 

Crude oil futures prices are trading slightly higher Monday afternoon after hitting a fresh six-week low of $77.11 a barrel overnight. Crude oil bears still have some downside momentum and that's also a bearish factor for the precious metals markets.

 

The London P.M. gold fixing was $1,598.00 versus the previous P.M. fixing of $1,689.00.

 

Technically, December gold futures prices closed near mid-range Monday in another extremely volatile day. Prices hit a fresh 2.5-month low of $1,535.00 early on. Serious near-term technical damage has been inflicted in gold recently. Prices are in a steep three-week-old downtrend on the daily bar chart and a bearish double-top reversal pattern has formed on the daily chart. Bulls' next upside technical objective is to produce a close above solid technical resistance at $1,705.40. Bears' next near-term downside price objective is closing prices below strong technical support at Monday's low of $1,535.00. First resistance is seen at $1,625.00 and then at $1,650.00. First support is seen at $1,575.00 and then at $1,550.00. Wyckoff's Market Rating: 4.0.  stone washing machine

 

December silver futures prices closed nearer the session high Monday after hitting a fresh 10-month low early on. Very serious near-term and longer-term chart damage has been inflicted recently. However, Monday's high-range close suggests the bears may have become exhausted at the lower price levels as selling interest dried up at Monday's low of $26.15 and prices then rebounded strongly. If there is follow-through buying interest on Tuesday, then it would be a clue that a near-term market bottom is in place. However, at present prices are still in a steep six-week-old downtrend on the daily bar chart. Silver bulls' next upside price objective is producing a close above strong technical resistance at $32.50 an ounce. The next downside price breakout objective for the bears is closing prices below solid technical support at today's low of $26.15. First resistance is seen at Monday's high of $30.97 and then at $32.00. Next support is seen at $28.00 and then at $28.00. Wyckoff's Market Rating: 3.0.

 

December N.Y. copper closed up 3,10 points 331.10 cents Monday. Prices closed nearer the session high after hitting a fresh 14-month low early on. Very serious near-term chart damage has occurred recently. However, today's high-range close suggests the bears may have become exhausted at today's lower price levels as selling interest dried up at today's low of 307.15 and prices then rebounded strongly. If there is follow-through buying interest on Tuesday, then it would be a clue that a near-term market bottom is in place.  Copper bears do still have the strong overall near-term technical advantage as a steep four-week-old downtrend is in place on the daily bar chart. Copper bulls' next upside breakout objective is pushing and closing prices above solid technical resistance at 350.00 cents. The next downside price breakout objective for the bears is closing prices below solid technical support at Monday's low of 307.15 cents. First resistance is seen at Monday's high of 335.65 cents and then at 340.00 cents. First support is seen at 325.00 cents and then at last week's low of 321.50 cents. Wyckoff's Market Rating: 2.0.  milling machine

Silver news - Thomson Reuters GFMS' Newman: Silver May Move Toward $50 Yet In 2011

Silver may yet move toward $50 an ounce this year as investors continue to seek it and gold as safe havens, with industrial demand for silver also likely to remain constructive, said Philip Newman, research director of precious metals with Thomson Reuters GFMS.

 

There could be some volatility in silver, he said in an interview with Kitco News on the sidelines of the annual London Bullion Market Association's conference being held in Montreal this week.

 

"We think gold is likely, before the end of the year, to reach the $2,000 level," Newman said. "That will see silver move higher, perhaps toward the $50 mark.

 

Silver is also maintaining underlying strength in industrial demand, Newman said.

 

"Silver is a little more diverse," he said of its double role as an investment and industrial metal. "You have twin pillars."

 

Gold has always had an important role for safe-haven demand among investors, but this is becoming increasingly significant for silver, Newman said.

 

"You have retail and high-net-worth investors coming into the market from the physical perspective, buying small bars and coins, (plus) ETFs," he said. "That's helping to push prices higher."

 

For the year to date, global silver exchange-traded fund holdings are down slightly from the 600 million where they stood at the end of 2010, Newman said. But, he continued, the retreat has been "modest" and "they still remain at elevated levels and historically high levels."

 

He anticipates a large percentage of these silver ETF holdings will be "quite sticky," meaning investors will be willing to hang onto them for some time. "They have been purchased by small and high-net worth (investors) as a form of wealth preservation and asset diversification," he said.

 

While industrial demand could suffer some in an economic downturn, Newman cited some resiliency.

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"There is the potential for industrial demand to weaken, although we haven't seen that just yet," he said. "But there is always the risk if we have a double-dip recession emerge. The question is how sharply will it fall? It's hard to see it falling to the extent that it did in 2009. That year, had the largest annual decline in the history of our (annual statistical) series. But then we saw the resilience of industrial demand the following year, when we had the largest annual rise in a single year."

 

Some of the resilience is due to a wide range and growing number of uses, he said. For instance, a slowdown in the auto sector presumably means less silver demand for electrical contact points. However, the number of applications per vehicle—such as rear-parking sensors—is increasing.

 

"So the growing number of uses can partially offset a decline in auto sales," he said.

 

Overall, industrial use will remain perhaps the dominant source of demand for the metal, Newman said. Jewelry demand has performed "relatively well," with expectations of strong buying in India and substitution toward silver from gold in Western markets due to the high cost of gold. However, photo and silverware demand for the metal are in a long-term structural decline.

 

Mine supply for silver is rising faster than for other metals, helped by an increase of by-product from gold-mining operations plus a number of major primary projects in recent years. Silver mine output is expected to grow by more than 6% this year, with recycled supply also on the increase. Gold-mine supply is forecast to grow a little more than 4% this year and platinum group metals by around 2% to 3%.

 

For silver prices to remain supported as the supply increases, it will be important for investment demand to fill any gap that otherwise might exist between output and fabrication demand, Newman said.

 

"Sometimes people forget you need investment demand to remain strong just to keep prices where they are," he said. "Therefore, you do require additional flows into the market to push prices higher."

 

For now, he looks for the industrial and investment demand to absorb the supply into 2012. The sovereign-debt crisis "is not going away," and loose monetary policy persists in a number of key economies, with negative real interest rates.

 

 There are also worries about another recession.

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"These factors, from an economic standpoint, are supportive for the investment area," Newman said.

 

Mica crusher

Mica Crusher Nigeria

Nigeria is the leading producer of muscovite mica followed by Brazil. Other producing countries are the USA, Tanzania, Rhodesia and Argentina. The USA generally produces scrap mica. The leading producers of phlogopite mica are Malagasy Republic and Tanzania whose average annual productions are 1,000 tonnes and 300 tonnes respectively. Small production of phologopite is reported from Canada, Tanzania and Nigeria.

Mica is invaluable in the electrical industry because of its unique combination of physical, chemical and thermal properties, low power loss factor, dielectric constant and dielectric strength. Dieletric strength is the ability to withstand high voltage without puncturing. Mica is invaluable in the electrical industry because of its unique combination of physical, chemical and thermal properties, low power loss factor, dielectric constant and dielectric strength.

Mica Basics

According to mica crushing demand dressing process, with the corresponding feeder, vibrating screen and the cone crusher, and the European version Jaw Crusher complete crushing and screening system formed, fully meet the needs of mica mineral in the process. SBM has many years experience in mineral processing equipment, in order to satisfy different users mica fineness, yield, use requirements and different technical requirements, in line with local conditions, to optimize the investment scale, the economic benefits of investment to get the best for the purpose of the mica mineral projects, the company may send the user site engineering and technical personnel to conduct site surveys, planning, design process, and is responsible for the later installation and maintenance services.

Mica is a kind of rock-forming minerals, usually six or diamond was fake plates, sheets, columnar crystal. Color changes with different chemical composition, mainly with the increase of Fe content and becomes deeper. Mica is characterized by the insulation, high temperature resistant, shiny, physical and chemical properties of stability, good insulation, elasticity and toughness. Most used in industry is muscovite, followed by phlogopite. They are widely used in building material industry, the fire industry, and fire extinguishing agents, welding, plastics, electrical insulation, paper, bitumen paper, rubber, pearlescent pigments and other chemical industries.

Industry is mainly the direct use of natural mica crystals processed into products they need. The larger crystal, no defects, the higher its economic value, and therefore mica ore beneficiation process as possible to protect the natural mica crystals from destruction.

Mica flotation ore beneficiation processes are two processes of selection and wind. European version of SBM jaw crusher, dedicated to hard, abrasive materials, strong fragmentation, the European version Jaw Crusher main chassis parts, eccentric shafts rotating part of the work of some of the crushing chamber, insurance, installation, adjustment devices nesting population parts. European version Jaw Crusher motor-driven belt and pulley, through the eccentric shaft to move the European version Jaw Crusher swing up and down before and after, when the dynamic European version Jaw Crusher to promote the dynamic jaw motion to the fixed jaw, the material was crushed broken or split. When the movable jaw and fixed jaw plate in the eccentric shaft, under the action of spring back when crushed or split previously been broken jaw plate material from the bottom of row discharge port.

The Mica Industrial Applications

Sheet mica is used in a number of electrical and electronic appliances in different shapes and sizes. As an insulating material it is used in equipment like condensers, transformers, sheostats, radio and electronic tubes and radar circuits. It is used in the form of washers, discs, tubes and plates.

Nowadays mica is finding increasing use in equipment that encounters very high temperatures like rockets, missiles and jet engine ignition system. Phlogopite is used in spark plugs. Sheet mica, however, is not always available in required size as demanded by the industry.

Great progress has been achieved in making built-up mica called micanite. Mica films are placed with alternate layers of binding materials like shellac, alkyl, or silicon resin and then pressed and baked. Micanite is in common use now. It is convenient to cut or punch micanite according to requirements.

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Cone crusher machine for sale

Cone crusher

Cone crusher is widely applied in metallurgical, construction, road building, chemical and phosphatic industry. Cone crusher is suitable for hard and mid-hard rocks and ores, such as iron ores, copper ores, limestone, quartz, granite, gritstone, etc. Type of the crushing cavity is decided by the application of the ores. Standard type is for PYZ (secondary crush); middle type is for PYD (tertiary crush); short-head type is for primary and secondary crush. SBM's core business is cone crusher crushing and screening, specialising.

Cone crusher

SBM Jaw Crusher is Nigeria based manufacturer of cone crusher, portable Crushing Unit & Jaw Crushers Gujarat. Nigeria, North Gujarat based Manufacturers of Jaw Crusher also offers Portable Crushing Unit & Jaw Crushers in Nigeria.

Nigeria Cone Crusher Structure & operation principles

Cone crusher consist of frame, transmission device, hollow eccentric shaft, bowl-shaped bearing, crushing cone, springs and hydraulic pressure station for adjusting discharge opening.

During operation, the motor drives the eccentric shaft shell to turn around through ahorizontal axle and a pair of bevel gear. The axle of crushing cone swings with the force of eccentric shaft shell so that the surface of the crushing wall is close to the roll mortar wall from time to time. In this way, the ores and rocks will be pressed and crooked and crushed.

The customers are increasingly recognising these high performance. SBM cone crusher is highly regarded in Ecuador quarry industry.– Hyman, CEO

Nigeria Showing How A Cone Crusher Crushes, How Do They Work?

A Gyratory Cone Crusher is one of the main types of primary crushers in a mine or ore processing plant. Gyratory cone crushers are designated in size either by the gape and mantle diameter or by the size of the receiving opening. Gyratory cone crushers can be used for primary or secondary crushing. The crushing action is caused by the closing of the gap between the mantle line (movable) mounted on the central vertical spindle and the concave liners (fixed) mounted on the main frame of the crusher. The gap is opened and closed by an eccentric on the bottom of the spindle that causes the central vertical spindle to gyrate. The vertical spindle is free to rotate around its own axis. The crusher illustrated is a short-shaft suspended spindle type, meaning that the main shaft is suspended at the top and that the eccentric is mounted above the gear. The short-shaft design has superceded the long-shaft design in which the eccentric is mounted below the gear.  cone crusher parts

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Ball Mill in Australia

Ball mill is an efficient tool for grinding many materials into fine powder. The Ball Mill is used to grind many kinds of mine and other materials, or to select the mine, widely used in building material, chemical industry, etc. There are two ways of grinding: the dry process and the wet process. It can be divided into tabular type and flowing type according to different forms of discharging material.

Ball Mill in Australia

1. Available in Open Circuit And Close Circuit
2. Application : cement, bauxite, lime stone, Ore material or any type of minerals
3. Product Size : 200 mesh
4. Capacity : 1 – 10 ton per hour
5. Sub-drive by Heavy duty Pulley drive or Helical Gear Box drive
6. Sub-divided in to Liner Plates in Cast Steel, Mn. Steel, Cast iron or High Carbon Steel.

Features and Benefits

Ball mill is made up of feedisng part, discharging part, gyre part, transmission part, (decelerator, small transmission gear, generator, electrical control) and so on.

The hollow axis adopts the cast steel and the lining can replace, the rotating big gear processes in the way of casting rolling gear. The barrel body is wearable well and bears wearable scaleboard. This machine run steadily and works reliably.

Lines that ball mill is suitable for:  gold mining equipment  gold mill   ， iron ore mining ,  mineral mining, aggregate production

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