The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More
The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More
This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More
Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More
Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More
Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More
The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More
In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More
Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More
On Friday, British Prime Minister Theresa May will become the first world leader to meet with Donald Trump since he was sworn in as U.S. President. The meeting breathes new life into the long-standing "special relationship" between the United States and Britain, with Mr. Trump already calling her "his Maggie," drawing comparisons to the political bond forged between Ronald Reagan and Margaret That...Read More
Gold dipped to a two-week low on Monday hurt by a stronger dollar and investors moving money into equities with major US stock markets continuing to trade at record levels.Gold for delivery in February, the most active contract on the Comex market in New York, was exchanging hands at $1,187.20 in late afternoon dealings, trimming year-to-date gains for the metal to 3%.Upside risks include geopoli...Read More
Anglo American (LON:AAL) reported Thursday higher output for most of the commodities it mines during the fourth quarter of last year, except for copper, which output declined a staggering 19% compared to the same period a year earlier.Anglo saw operational improvements across its portfolio, but copper output suffered from lower grades, bad weather and strikes at its Chilean mines.The significant d...Read More
(Adds company news item)Jan 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 13 to 18 points, or as much as 0.3 percent higher, according to financial bookmakers, with futures FFIc1 up 0.2 percent ahead of the cash market open.* The UK blue chip index closed up 0.2 percent at 7,164.43 points on Wednesday.* ANGLO AMERICAN: Anglo American AAL.L on Thursday reported an increase in p...Read More
Investing.com - Gold prices were at a two-week low in European morning trade on Thursday, as stocks around the world extended a rally after the Dow climbed past 20,000 for the first time overnight, dampening the metal's safe-haven appeal.Gold for February delivery on the Comex division of the New York Mercantile Exchange fell $2.00, or around 0.2%, to $1,195.85 a troy ounce by 4:10AM ET (09:10GMT)...Read More
Andrew Napolitano: Trump has committed the most revolutionary act I’ve seen in 45 years ... Within four hours of becoming president of the United States, Donald Trump signed an executive order intended to limit immediately the effects of the Patient Protection and Affordable Care Act (Obamacare) in ways that are revolutionary.The biggest way that the executive order was revolutionary,...Read More
Andrew Napolitano: Trump has committed the most revolutionary act I’ve seen in 45 years ... Within four hours of becoming president of the United States, Donald Trump signed an executive order intended to limit immediately the effects of the Patient Protection and Affordable Care Act (Obamacare) in ways that are revolutionary.The biggest way that the executive order was revolutionary,...Read More
From a contrarian perspective, COF, FITB, HOLX, and UNH look awfully enticingEarlier, Schaeffer's Senior Quantitative Analyst Rocky White identified 20 stocks to buy based on a pair of historically predictive indicators. One such indicator was Bollinger Bands, as stocks that fall below the lower band tend to outperform. We asked Senior Trading Analyst Bryan Sapp which names on the list looked mos...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, were hammered on Wednesday after the US company announced fourth quarter earnings below expectations and warned about problems at its flagship mine in Indonesia.Freeport was trading down 6.4% with nearly 50 million shares having already changed hands by 1pm in New York, making the counter the second most traded on...Read More
Canada's Barrick Gold (TSX, NYSE:ABX) said Wednesday that total output fell last year 9.8% to 5.52 million ounces, though lower all-in sustaining costs mitigated the impact of decreased production.The world's largest producer of the precious metal by output said all-in sustaining costs for 2016 were at or slightly below the low end of its forecast of $740-$775 per ounce of gold, based on prelimi...Read More
Investing.com - Gold prices edged lower during European morning trade on Wednesday, moving further away from this week's two-month high as the metal's safe-haven appeal was dampened amid a rally in global equity markets.Gold for February delivery on the Comex division of the New York Mercantile Exchange fell $8.15, or around 0.7%, to $1,202.65 a troy ounce by 3:50AM ET (08:50GMT), after declining...Read More
(Adds company news item)Jan 25 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 13 to 19 points higher, or up as much as 0.3 percent on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.5 percent ahead of the cash market open.* The UK blue chip index , which touched a three-week low the previous day, had a volatile session after the UK Supreme Court ruled that Prime M...Read More
SEOUL, Jan 25 (Reuters) - South Korea bought 1,500 tonnes of copper and a total of 2,000 tonnes of zinc for April arrival via tenders that closed on Tuesday, state-run Public Procurement Service said on its website (http://www.g2b.go.kr).Details of the purchases are as follows:--CopperTONNES(M/T) ORIGINSUPPLIER/PREMIUM(PER TONNE)1,500 South Korea LS Nikko Copper Co Ltd/ $65--ZincTONNES(M/T) ORIGIN...Read More
Don't look now: It's President Pence! Donald Trump can be deposed, even without impeachment ... -SalonMainstream media is going well beyond general speculation over a Trump impeachment. They're now speculating on numerous ways that Trump could be removed from office through the 25th amendment.The idea is that Trump is not sane. He is entirely enamored of himself and is running the presidency base...Read More
Don't look now: It's President Pence! Donald Trump can be deposed, even without impeachment ... -SalonMainstream media is going well beyond general speculation over a Trump impeachment. They're now speculating on numerous ways that Trump could be removed from office through the 25th amendment.The idea is that Trump is not sane. He is entirely enamored of himself and is running the presidency base...Read More
The world's number one mining company BHP Billiton (NYSE:BHP) reported record half-year production at its Western Australia iron ore division on Tuesday.The Melbourne-based giant said thanks to the continued ramp up of additional capacity at its Jimblebar operations in Western Australia production at its iron ore unit rose 4% year-on-year to 117.6m tonnes for the six months to end-December.For the...Read More
On Tuesday copper for delivery in March closed more than 2% higher in New York at $2.7085 per pound or just under $6,000 a tonne. It was the highest close since June 2015 and in after hours trade the metal added to gains, last trading at $2.72.Copper has advanced 40% since hitting near-six year lows this time last year, with most of those gains coming in the last four months.Copper's latest leg up...Read More
Shares Pistol Bay Mining Inc. (TSX-V: PST) were up more than 45% on Tuesday mid-morning after the company announced that joint venture partner Rio Tinto will start drilling at its "C Blocks" uranium properties in Saskatchewan's Athabasca Basin.The move means that the world's second largest miner is moving forward with the planned acquisition of the uranium assets, located close to Cameco's McArt...Read More
* Dollar steadies after dip on Mnuchin strong dollar comments* Trump talks protectionism, border taxes rather than stimulus* Japanese shares pressured as yen highest in nearly 8 weeks* Sterling dips after UK court ruling on Brexit vote* Oil and bulk metals boosted date, by recent dollar declineBy Marc JonesLONDON, Jan 24 (Reuters) - The dollar and world stocks tip-toed higher on Tuesday, as signs...Read More