MUNICH (Reuters) - Volkswagen (VOWG_p.DE) suspended Audi boss Rupert Stadler and announced an interim replacement on Tuesday, seeking to steady its most profitable business after German authorities arrested Stadler as part of an emissions probe.Audi said Stadler, 55, had requested to temporarily step down from his position, and named sales executive Abraham Schot as an interim replacement with imm...Read More
BERLIN (Reuters) - Greece will likely get up to 15 billion euros ($17.33 billion) from its euro zone allies for stabilization after its third bailout program ends in August, a senior German government official said on Tuesday.Euro zone finance ministers will discuss debt relief for Greece on Thursday to ensure the country can return to market financing after eight years of loans from euro zone gov...Read More
VIENNA (Reuters) - Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.The Organization of the Petroleum Exporting Countries meets on Friday to decide output policy amid calls from major consumers such as the United States and China to cool down oil prices and support the...Read More
Increased demand for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States has led to a rise in prices for the first time since early March. Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $550-565 per tonne fob Black Sea on Monday June 18, up from $535-555 per tonne a week earlier. In the three months to June 11, the average HRC export price...Read More
Vancouver, British Columbia - June 19, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Orla Mining Ltd. (TSXV: OLA) ("Orla" or the "Company") is pleased to report that drilling in the Caballito copper-gold zone at its wholly owned Cerro Quema project in Panama continues to intersect near-surface mineralization with greater than 1% copper and associated gold values.Diamond drill hole CQDH18-163...Read More
Vancouver, British Columbia - June 19, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Cabral Gold Inc. (TSXV: CBR) ("Cabral" or the "Company") is pleased to announce initial sampling results from two new discoveries, Jerimum North and Jerimum East, along with further results of surface rock sampling at the Morro da Lua and Jerimum Cima targets, Cui?? Cui?? Project, Par?? State, Brazil.Highligh...Read More
HOUSTON (Reuters) - Major U.S. energy companies including Plains All American Pipeline (PAA.N), Hess Corp (HES.N) and Kinder Morgan Inc (KMI.N) are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico.There have been nearly 21,000 requests overall for exclusions submitted to the U.S. Commerce Depar...Read More
Chinese ferrous futures all declined during morning trading on Tuesday June 19 amid threats of a fresh round of tariffs by the United States on Chinese imports.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,781 yuan ($587) per tonne, down 84 yuan per tonneOctober hot-rolled coil: 3,859 yuan per tonne, down 74 yuan per tonne Dalian Commodity Exchange September ir...Read More
HONG KONG (Reuters) - Shares of ZTE Corp plummeted on Tuesday after the U.S. Senate’s passage of a defense bill set up a potential battle with the White House over whether the Chinese telecoms firm can resume business with its U.S. suppliers.The 85-10 bipartisan vote - one of the few times the Republican-led Senate has veered from White House policy - came on the same day that U.S. President...Read More
The CIS export wire rod market picked up in the week ended Monday June 18, with customers accepting higher prices after a positive trend emerged in the billet segment and buying activity thawed following the end of the Islamic holy month of Ramadan.Metal Bulletin's weekly assessment of export prices for CIS-origin wire rod was $575-595 per tonne fob Black Sea on Monday, up from $560-580 per tonne...Read More
Prices for rebar and steel billet in the United Arab Emirates and Saudi Arabia were stable on low demand this week because of the Eid al-Fitr holiday that ended on Monday June 18 in the UAE and continues until Thursday in Saudi Arabia, sources told Metal Bulletin on Tuesday June 19.The Eid holiday, which started on June 15 and ended on June 17, marks the end of the Islamic holy month of Ramadan. H...Read More
China's domestic rebar prices moved down on sparse trading on Tuesday June 19 amid weakening futures. Domestic Eastern China (Shanghai): 4,120-4,160 yuan ($640-646) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,910-3,940 yuan per tonne, down 40 yuan per tonne Futures tumbled during the day following threats by US President Donald Trump to impose a 10% tariff on more Chinese imports...Read More
A Purely Technical MarketLong time readers may recall that we regard Bitcoin and other liquid big cap cryptocurrencies as secondary media of exchange from a monetary theory perspective for the time being. The wave of speculative demand that has propelled them to astonishing heights was triggered by market participants realizing that they have the potential to become money. The process of achieving...Read More
Iron ore prices fell in both the physical and paper markets on Tuesday June 19 amid threats of a new round of tariffs by the United States on Chinese imports.Metal Bulletin 62% Fe Iron Ore Index: $66.45 per tonne cfr Qingdao, down by $2.04 per tonneMetal Bulletin 58% Fe Premium Index: $53.62 per tonne cfr Qingdao, down by $0.57 per tonneMetal Bulletin 65% Fe Iron Ore Index: $86.80 per tonne cfr Qi...Read More
Australian iron ore producer Hancock Prospecting has made an all-cash bid to acquire Atlas Iron, the latter said on Monday June 18. "The Redstone offer represents a 41% premium to the implied value of [Mineral Resources Limited's] proposal as at close of trading on 15 June 2018," Atlas Iron said. Redstone Corp is a wholly owned subsidiary of Hancock Prospecting. In April this year, Mineral Resourc...Read More
Chinese ferrous futures all declined during morning trading on Tuesday June 19 amid threats of a fresh round of tariffs by the United States on Chinese imports.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,781 yuan ($587) per tonne, down 84 yuan per tonneOctober hot-rolled coil: 3,859 yuan per tonne, down 74 yuan per tonne Dalian Commodity Exchange September ir...Read More
China's domestic rebar prices moved down on sparse trading on Tuesday June 19 amid weakening futures. Domestic Eastern China (Shanghai): 4,120-4,160 yuan ($640-646) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,910-3,940 yuan per tonne, down 40 yuan per tonne Futures tumbled during the day following threats by US President Donald Trump to impose a 10% tariff on more Chinese imports...Read More
CloseGain/LossGold $1275.50-$2.90Silver$16.30-$0.14XAU81.67-0.86%HUI176.86-0.55%GDM616.26-0.70%JSE Gold1071.97+7.06USD95.04+0.25Euro115.84-0.37Yen91.07+0.50Oil$65.07-$0.7810-Year2.890%-0.030T-Bond145.125+0.71875Dow24700.21-1.15%Nasdaq7725.59-0.28%S&P2762.57-0.40% The Metals: Gold gained $5.60 to $1284.00 in Asia before it fell back to $1270.60 in London, but it then bounc...Read More
Graceland Updates By Stewart Thomson 1. The dollar and the US stock market may be starting their next major legs down today. Please click here now. Double-click to enlarge this ominous US dollar versus Japanese yen chart.2. Central banks around the world are ramping up their tightening. Back in 2013-2014 when I predicted quantitative tightening and relentless rate hikes were immin...Read More
Source: Streetwise Reports 06/19/2018 Technical analyst Jack Chan charts the latest moves and an 'agonizingly long consolidation' in the gold and silver markets. --> Our proprietary cycle indicator is up. The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term. The gold sector is on a short-term...Read More