Demand for imported steel billet and domestic steel reinforcing bar (rebar) in Egypt remained weak in the seven days to Thursday May 14, with billet import prices increasing because of high offers, sources told Fastmarkets.No improvement in demand was anticipated soon due to the Islamic holy month of Ramadan and the Covid-19 pandemic. In addition, the governor of Egypt's capital city, Cairo, has c...Read More
Sector expert Michael Ballanger expands on both the latest money market moves and his investment thesis for Getchell Gold. I was pacing around the house this lovely but cold Friday afternoon (after finally having the water supply restored after our well filed for unemployment benefits), trying desperately to think of a topic to write about in this weekly missive, when it suddenly occurred to me t...Read More
Defense Metals reports a 49% increase in tonnage and a 30% increase in overall average grade. Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE) announced in a news release it completed an update to its mineral resource estimate for its Wicheeda rare earth element (REE) project in British Columbia, Canada."Our successful 2019 drill campaign has resulted in a significant expansion and increas...Read More
Liberty Gold sold two assets and advanced its Idaho project. Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) presented in a news release its corporate highlights from Q1/20. The company pursued two transactions. One was the sale to Barrian Mining of its interest in the Kinsley Mountain gold deposit for total proceeds of $6.25 million and 9.9% of Barrian. Liberty Gold will receive the consideration in t...Read More
Black Tusk Resources reported that it has begun work on the McKenzie East Gold project located near Val-D'or, Quebec. Gold barsIn a news release, Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) announced that it has begun work on the McKenzie East Gold project located 30 km north of Val d'Or, Quebec.The company stated that it has enlisted VD Geo Service of Val d'Or to conduct geologi...Read More
Group Ten Metals reports that soil geochemistry results suggest the presence of a strongly mineralized system at its Montana asset. Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) announced in a news release it discovered four new palladium-platinum-gold-nickel-copper soil anomalies at its Stillwater West project in Montana.Soil geochemistry from the Boulder and Wild West targets showed...Read More
China's stainless steel prices moved up over the past week on recent gains in the nickel market, but soft demand tempered expectations of any further increases.The three-month nickel contract on the London Metal Exchange ended its official trading session at $12,313 per tonne on May 7, up by $459 per tonne from $11,854 per tonne on May 5, the lowest point so far this month. The contract has shed s...Read More
Another dismal weekly jobless claims report weighed on stocks earlierThe Dow staged a big comeback today, ending over 375 points higher as it steadily distanced itself from a morning spent deep in the red andanother round of depressing jobs data. Strength in the financial sector was responsible for the blue-chip index's rebound, while the S&P and Nasdaq also enjoyed a bounce, settling modestly hi...Read More
The June 21 put has been running the show for the last 10 daysTwo months ago, when we last checked in with Financial Select Sector SPDR Fund (XLF), the banking exchange-traded fund (ETF) was seeing a huge deep-pocketed bet in the options pits. Now, as XLF continues to languish and bank stocks like Wells Fargo (WFC) deal with dividend cut drama, it's worth revisiting the financial services ETF's o...Read More
LONDON, 30 March 2020 - Data from BullionVault is quoted in today's edition of the Financial Times - the City of London's newspaper of record - in a report on the surging demand for investment gold amid the worsening Coronavirus Crisis.While investment inflows to gold-backed funds have "rebounded" so far in 2020, demand for physical bullion is running at "its strongest since the depths of the fina...Read More
DAL's 40-day trendline has stymied any breakouts on the chartsThe shares of Delta Air Lines, Inc. (NYSE:DAL) are down 1.3% to trade at $18.91 today, after the airliner's board authorized plans to retire the company's Boeing (BA) 777 aircraft and withdraw them from service by the end of 2020. "We plan to continue to consider further opportunities for early aircraft retirements in an effort to mod...Read More
LONDON, 26 March 2020 - Widening anti-virus lockdowns are blocking gold's usually smooth flow from London to the United States, reports leading US finance news-site MarketWatch today, quoting Adrian Ash, director of research at BullionVault."London is the heart of global precious metals trading," he says, but "those stockpiles can't reach other global trading centers so easily. Monday's UK lockdow...Read More
Co-Diagnostics will put out its first-quarter earnings after the close this evening Biotech Co-Diagnostics Inc (NASDAQ:CODX) has been in the spotlight recently as one of the companies producing COVID-19 test kits. The stock has tacked on 137% in May alone, undoubtedly on the back of these test kits' success rates, shared earlier in the month. Now, CODX is once again capturing the attention of trad...Read More
LONDON, 26 March 2020 - BullionVault is named today as the world's largest provider of physical gold and silver ownership to private individuals by Investors Chronicle, the UK's longest-running personal finance magazine.Looking at the stock price of Augmentum - the fintech investment fund which owns a stake in BullionVault's parent company Galmarley Limited - BullionVault "offers private investors...Read More
The Dow is down 100 points middayThe Dow Jones Industrial Average (DJI) is down 100 points at midday, but has managed to pare some of this morning's steeper losses thanks to outperforming bank stocks. Dismal jobs data piled on for the ninth week straight, however, sending the S&P 500 Index (SPX) and Nasdaq Composite (ICIX) into the red as well. Also weighing heavy has been increased worry that a...Read More
LONDON, 24 March 2020 - Popular UK broadsheet The Daily Telegraph's website today quotes BullionVault data and comment on the surging demand for physical gold as it highlight different ways to get involved.With the British Pound price of gold setting new all-time record highs, "Anyone saying gold has no intrinsic value overlooks its use in all ages and all cultures as the ultimate store of spendin...Read More
Credit Suisse lifted its rating on MKC to "outperform" from "neutral"The shares of spice concern McCormick & Company Inc (NYSE:MKC) are up 3.8% at $172.30 after Credit Suisse raised its price target to $187 from $147, and upgraded the stock to "outperform" from "neutral." The brokerage firm expects MKC to be the biggest long-term beneficiary in its food sector coverage, and predicts a rise in sa...Read More
LONDON, 24 March 2020 - Comment from BullionVault today features in a report from the UK's Daily Telegraph newspaper on why investors should consider buying more gold for their portfolio."The underlying appeal of rare, indestructible gold is seeing small and large investors buy in," the paper's popular website quotes Adrian Ash, director of research.You can read Adrian's comment in the full story...Read More
A historically bullish trendline could keep Digital Realty Trust afloatLike most of the market, real estate investment trust (REIT) Digital Realty Trust, Inc (NYSE:DLR) has taken a notable tumble off its April 28 high of $158.36. The security is already down 10.9% this month, trading back near its early April levels. Several technical levels on the charts are helping to contain this pullback, how...Read More
LONDON, 22 March 2020 - Data, analysis and comment from BullionVault today leads a full-page report in the Mail on Sunday - the UK's second best-selling Sunday paper - on the jump in gold investing demand amid the worsening global virus pandemic.With the gold price in British Pound terms now 30% higher from this time last year, "The number of investors opening new accounts is nearly three times th...Read More