Jack ChanPosted Oct 28, 2021Gold sector as represented by $HUI is now on amajor SELL signal.Long-term signals can last for months and are more suitable for investors.Short-term is on BUY signal.Short-term signals can last for days and weeks and are more suitable for traders. Speculation is in bear market values, but now at level of previous tradable bottom.Speculation in bear market values. Our ra...Read More

Yamana Gold (TSX:YRI; NYSE:AUY; LSE:AUY) said today it had net earnings of $27.0 million or $0.03 per share basic and diluted. Adjusted net earnings were $69.7 million or $0.07 per share basic and diluted.Mine operating earnings were $154.0 million and increased quarter-over-quarter by 8%.The company said it expects to achieve guidance for the year of 1,000,000 gold equivalent ounces.Total gold pr...Read More

Eldorado Gold (TSX:ELD) said today that gold production totaled 125,459 ounces in Q3 2021, a decrease of 8% from Q3 2020 production of 136,922 ounces driven by a planned shift to lower-grade ore at Kisladag. Overall, production was better than expected. "Gold production in the quarter increased 8% over Q2 2021. As a result of strong production in the first nine months of 2021, primarily due to ope...Read More

Oct 28 (Reuters) - The Nasdaq hit a record high on Thursday, led by mega-cap companies Apple, Amazon.com and Tesla, while solid results from Caterpillar and Merck helped investors shrug off signs of slowing economic growth.Ten of the 11 major S&P sectors advanced, with technology (.SPLRCT) hitting an all-time high and consumer discretionary (.SPLRCD) rising more than 1%.Shares of Tesla Inc...Read More

Demand and prices for alumina in China were in limbo this week because market participants have become cautious after a steep decline in downstream aluminium prices, Fastmarkets heard on Thursday October 28.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-650) per tonne on Thursday, flat from a week earlier.Domestic demand for alumina in...Read More

NEW YORK, Oct 28 (Reuters) - Investors in U.S. interest rate options are paying for trades that benefit from a much earlier-than-expected monetary tightening by the Federal Reserve to fight off stubbornly high inflation, including multiple hikes from next year until 2023.Those bets have pushed volatility higher on U.S. swaptions, or options on interest rate swaps which give the buyer the right to...Read More

J Capital Research published a report on Tuesday calling Vulcan the "god of empty promises".Read More

WASHINGTON (Reuters) -U.S. President Joe Biden presented a social and climate spending plan on Thursday to Congress and voters.The White House said the plan has the support of Democrats in the Senate and House of Representatives. Progressive Democrats in the House, however, have said they want to see the full text before making any deals.INCLUDED*$555 billion in clean energy tax credits*1% tax on...Read More

Gem recovered 23,435 carats from its operations in Lesotho and Botswana in Q3, down 21% quarter-on-quarter, and cut its guidance for 2021 diamond production to 110,000-114,000ct, down from earlierRead More

Fastmarkets is extending the consultation period for its proposal to amend the name and specifications of its UG2 chrome ore price index.This is in response to market feedback following its proposal to make the amendment. Fastmarkets proposes to change the specification for its chrome ore South Africa UG2 concentrates index basis 42%, cif China to include increasing the minimum tonnage and de...Read More

FRANKFURT (Reuters) - The European Central Bank still sees a recent rise in euro zone inflation to above its 2% target as temporary and expects price pressures to ease next year, ECB President Christine Lagarde said on Thursday.She acknowledged the decline would take longer than ECB had initially expected but said favourable financing conditions created by its ultra-easy policy were still essentia...Read More

For anyone purely judging manganese ore supply in China by looking at port stocks, he or she could misread the market supply picture due to rising "invisible stocks" in the past one to two months, sources told Fastmarkets. Typically, ore stocks are either stored at ports or held by producers at their warehouses or local storage sites. While port stocks are visible and measurable, the latter can be...Read More

Here are five Fastmarkets stories you might have missed on Thursday October 28 that are worth another look.The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019. Brazilian miner Vale will resume activities...Read More

OTTAWA, Oct 28 (Reuters) - The Bank of Canada is right to warn that inflation will persist well into next year and to signal that interest rates are likely to start moving higher sooner than previously thought, former Canadian central banker David Dodge said on Thursday.The central bank held here its key overnight interest rate at 0.25% on Wednesday, but nudged forward its guidance on a hike to...Read More

Oct 28 (Reuters) - Sibanye Stillwater reported a 5%fall in quarterly core earnings on Thursday due to lower averageprices for gold and platinum, but said prices are stabilisingand the outlook for precious metals is positive.The South Africa-based miner said group adjusted earningsbefore interest, taxes, depreciation and amortisation (EBITDA)fell to 14.90 billion rand ($984.02 million) for the thre...Read More

China's cobalt metal prices declined this week in response to weak demand and cautious downstream buyers - diverging from the international trend for higher benchmark prices.Fastmarkets' price assessment for cobalt 99.8% Co min, ex-works China was 395,000-410,000 yuan ($61,806-64,153) per tonne on Wednesday October 27, down by 2,000 yuan per tonne from 397,000-410,000 yuan per tonne on October 22...Read More

Submitted by OilPrice.comThe potential for a knock-on effect of rising fuel prices to be felt by other industries is becoming more likely, as oil and gas prices continue to rise to an all-time high, companies are finding it hard to maintain their costs and may have to shift this burden to the consumer any day now. Petrol prices have risen higher and higher this year, as oil makes a comeback in 20...Read More

Oct 28 (Reuters) - Facebook Inc (FB.O) CEO Mark Zuckerberg said privacy and safety would need to be built into the metaverse, as he opened the company's annual conference on virtual and augmented reality on Thursday.Facebook continues to battle criticism over its market power, its content moderation practices and harms linked to its social media platforms. The tech giant, which reports about 2.9...Read More

JOHANNESBURG, Oct 28 (Reuters) - South Africa's AngloAmerican Platinum (Amplats) is in talks to sell itsBokoni platinum mine to billionaire Patrice Motsepe's AfricanRainbow Minerals , the two mining firms said onThursday.Amplats, a unit of Anglo American, suspended mining atBokoni in 2017 and said it aimed to find an owner with thetechnical and financial capacity to restart the mine.Amplats shares...Read More

We've been writing about the evolving global supply shock for some time (most recently today when we addressed what may be required to normalize the supply chain bottlenecks). And yet, every day we read about another dramatic commodity spike or factory shutdown.In a recent report from Deutsche Bank's chief FX strategist George Saravelos, he discusses three sets of charts. They point to a...Read More