By: Ira EpsteinGold 1796 area is a swing point, if taken out, then the market will head towards its 18-dma support around 1786 area. Doesn't mean the party is over:Read More
The fall in silver and gold is just profit taking and should be used to go long or invest. Crude oil should crash (on demand fundamentals) but is not even correcting. New investors of precious metals and industrial metals are waiting for correction to invest. Pension's funds have to give pensions to pensioners. They have increased their portfolio allocation to gold. Silver price will break past...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 14 that are worth another look.Sims Metal Management, the world's top metal and electronics recycler, is to lay off up to one-fifth of its UK workforce, Fastmarkets understands.Commercial vehicles led China's annual automotive output and sales in June, the China Association of Automobile Manufacturers (CAAM) said on July 10, e...Read More
Most steel scrap prices in Mexico fell during the week ended Friday July 10 amid slow demand, with the market affected by pessimism stemming from the monthly settlement in the United States.At least one scrap buyer has applied price cuts totaling 500 pesos ($22) per tonne since the end of June, while others have reduced prices by 300 pesos per tonne.Of the 10 grades of ferrous scrap tracked b...Read More
Turkish steel producers have resumed their deep-sea scrap purchasing at slightly higher prices, sources said on Tuesday July 14.A steel producer in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 27,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.This compared with transactions for US material at...Read More
Execution works at the copper-gold Serrote project, operated by Minera????o Vale Verde (MVV), have reached 60% completion and is planned to start production in the second half of 2021, MVV's parent company Appian Capital Advisory said on Tuesday July 14. The project is located in the Brazilian northeastern state of Alagoas, and has an expected production capacity of 20,000 tonnes per year of coppe...Read More
TORONTO - The Ontario government is modernizing the Ontario Energy Board (OEB) in order to strengthen trust and transparency of Ontario's energy sector and improve regulatory processes for the benefit of provincial ratepayers. As part of this process, the province is recommending the appointment of a new leadership team which includes Susanna Zagar as the OEB's new Chief Executive Officer and Lynn...Read More
Asian-Pacific equities and the base metals trading on the London Metal Exchange were weaker this morning, Tuesday July 14, with profit-taking emerging in the face of increased Covid-19 cases and earnings uncertainty. China's imports and exports climbed in June, a sure sign of improved economic conditions, albeit after months of hardship.United States President Donald Trump said last week he was no...Read More
Share this articleTORONTO - New Gold Inc. is reporting lower production from its Rainy River and New Afton gold mines in Canada during the second quarter, in part due to COVID-19 disruptions.Gold production at Rainy River dropped to 48,800 ounces in the three months ended June 30 from 50,400 ounces in the first quarter after the mine was closed for 12 days so its workers could follow the two-we...Read More
Hecla Mining Company (NYSE: HL) is a leading low-cost U.S. silver producer, with operating mines in Alaska, Idaho, and Mexico and is a gold producer, with operating mines in Quebec, Canada and Nevada. The Company also has exploration and pre-development properties in eight world-class silver and gold mining districts in the U.S., Canada and Mexico, also an exploration office and investments in ear...Read More
We learned from Sam Spring, President and CEO of Kincora Copper Ltd. (TSXV: KCC), that in third quarter of 2019, Kincora made the strategic decision to secure a district-scale position in the Macquarie Arc of the Lachlan Fold Belt, NSW, Australia. Kincora Copper's flagship project, called Trundle, sits within the same mineralized system as Northparkes Copper and Gold Mine, which is Australia's sec...Read More
Today is Tuesday, July 14, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,812.00. It's up 0.50% from yesterday and up 27.97...Read More
Today is Tuesday, July 14, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Sabine Royalty Trust (NYSE: SBR), WPX Energy (NYSE: WPX), and San Juan Basin Royalty Trust (NYSE: SJT).Sabine Royalty Trust (NYSE: SBR)Sabine Royalty Trust (NYSE: SBR) is a $446.71 million company today with a one-year return of -35.75%. Let's look at its price-to-earnings (P/E)...Read More
It is always a good idea to front-run the Fed.In my newsletter Bull and Bust Report, we've been pounding the table for gold and silver for a while now...Gold was moving because Fed Chairman Powell told us he was going to destroy the U.S. dollar and we believed him.The black part is gold, silver is the gold line, and the blue line is the U.S. dollar ETF. As you can see, the dollar is slowly rolling...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 14 that are worth another look.Sims Metal Management, the world's top metal and electronics recycler, is to lay off up to one-fifth of its UK workforce, Fastmarkets understands.Commercial vehicles led China's annual automotive output and sales in June, the China Association of Automobile Manufacturers (CAAM) said on July 10, e...Read More
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Stewart Thomson, Graceland Updates1. The big question about America is how much more money the Fed can print while the government runs a program of borrowing money to infinity... before hyperinflation turns the fading empire into a fire pit.2. The debt-themed empire is in tatters already, but it has yet to become an inferno. The world watches aghast, as Americans blow each other aw...Read More