LONDON (Reuters) - A surplus of platinum and demand concerns due to a dispute over global trade have fueled a sell-off that saw prices of the autocatalyst metal hit their lowest in a decade, below the cost of production for many mines in top producer South Africa.Used mainly in vehicles’ emissions-reducing catalytic converters and in jewelry, platinum has slumped nearly 18 percent from a one...Read More
(Kitco News) - As gold is searching for new buyers amid a general lack of safe-haven interest on the market, Australia’s ABC Bullion found out that almost 50% of the population never even thought about investing in the yellow metal.“We wanted to identify the major barriers which are preventing Australians from holding gold in their portfolios. What we learned was staggering: 45% of Aus...Read More
NEW YORK (Reuters) - U.S. loan applications to refinance existing homes fell to their lowest in over 17-1/2 years even as most 30-year home borrowing costs fell last week, data from the Mortgage Bankers Association showed on Wednesday.The Washington-based industry group said its seasonally adjusted index on homeowners’ requests for refinancing fell 3.8 percent to 958.5 in the week ended July...Read More
The latest news and price moves to start the Asian day on Thursday July 12.Lead prices on the London Metal Exchange fell by around 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Read more in our live futures report. Here are how prices looked at the close of trading:The stainless steel scrap market in...Read More
Domestic prices for steel beams in Europe remained unchanged this week, despite mills cutting offer prices in response to the arrival of low-priced imported material, sources told Metal Bulletin on Wednesday July 11.Metal Bulletin's weekly price assessment for domestic S235-grade, 200x200mm category-2 H-beam in Northern Europe were flat week on week at ?,?590-630 ($692-739) per tonne delivere...Read More
NEW YORK (Reuters) - Global benchmark Brent crude oil had its biggest one-day drop in two years on Wednesday as escalating U.S.-China trade tensions threatened to hurt oil demand, and news that Libya would reopen its ports raised expectations of growing supply.Brent crude LCOc1 fell $5.46, or 6.9 percent, to settle at $73.40 a barrel. The decline was the largest one-day move on a percentage basis...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Southern Europe strengthened over the past week, amid supply concerns before the expected preliminary decision in the EU safeguard case, sources said on Wednesday July 11.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Southern Europe was ?,?530-550 ($622-645) per tonne delivered on Wednesday, up fro...Read More
NEW YORK, July 11 (LPC) - US middle market loan pricing is increasing at a slower rate than the larger US leveraged loan market, where assertive investors with more deals to choose from are winning concessions on pricing and documentation.Capital remains abundant in middle market lending and fewer lenders are needed to finalize smaller loans, leading to a smaller 25bp increase than the large cap m...Read More
Prices for seaborne Australian iron ore fines and lumps fell slightly on Wednesday July 11 while more details emerged over possible measures to cut emissions in China's steelmaking hub.Metal Bulletin 62% Fe Iron Ore Index: $63.34 per tonne cfr Qingdao, down $0.57 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.16 per tonne cfr Qingdao, down $0.66 per tonneMetal Bulletin 58% Fe Premiu...Read More
CloseGain/LossGold $1242.20-$13.30Silver$15.80-$0.26XAU80.98-3.06%HUI174.53-2.88%GDM613.40-2.55%JSE Gold1072.36-5.43USD94.74+0.60Euro116.75-0.72Yen89.27-0.65Oil$70.38-$3.7310-Year2.840%-0.023T-Bond145.46875+0.46875Dow24700.45-0.88%Nasdaq7716.61-0.55%S&P2774.02-0.71% The Metals: Gold dropped throughout most of world trade and ended near its last-minute low of $1242.00 with...Read More
By Ira EpsteinThe washout in metals is running hot.https://www.iraepstein.com/ Read More
Today's Wall Street Journal contains a couple of charts that illustrate a relationship that's not getting much media attention these days: The fact that tightening labor markets are forcing companies to raise wages, in the process squeezing their own profit margins. Historically this margin compression has been either a cause of or contributor to cyclical turning points in other words it coinc...Read More
By Steve St. AngeloIs the U.S. Government hiding a massive gold deposit in the Chocolate Mountains in California? Well, according to a few top-notch conspiracy theorists, the U.S. Congress passed the Desert Wilderness Protection Act that has cordoned off this vast gold discovery from the public. Unfortunately, we may never know if this mammoth gold deposit exists due to the clandestine natu...Read More
August futures set up such an appealing buying opportunity for bulls Monday that several subscribers jumped on it when a timely 'mechanical' entry strategy was posted in the chat room. Alas, anyone who got long toward the end of the day watched the trade sink precipitously overnight, stopping out the position for a loss of around $600 per contract. As a rule, when a juicy Hidden Pivot trade set-...Read More
TSX Venture Symbol: COROTCQB Symbol: CAMZF Frankfurt: XC01VANCOUVER , July 11, 2018 /CNW/ - Camino Minerals Corporation ("Camino" or the "Company") (COR:TSX-V) wishes to report that it has filed an application with the Peruvian Mines and Energy Ministry and INGEMMET to renounce the title for remaining claims that formed part of the Red Beds Property located in the Department of Cuzco, Peru.The...Read More
In yesterday's analysis, we discussed how meaningful gold and silver's pre-market decline was given a relatively small move in the USD Index. The implications were quite bearish for the PM market, especially that we had just seen a target being reached in gold stocks. And because mining stocks had just underperformed gold for the first time in weeks. Yet, before the day was over, the USD, gold a...Read More
- World Cup weighs nearly 200 ounces (6.17 kilos) and is 18 Karat or 75% pure gold- World Cup's value is just ?140,000 at today's depressed prices- 30% less than England's Harry Kane's weekly wage of ?200,000- World Cup fever takes over England ahead of semi final tonight- World Cup's true value is priceless to players and nationsThe World Cup is worth at today's gold prices a measly ?140,000 (...Read More
Gold can fall first and then rise. Investors will prefer to sit on cash or invest in a safer bond market till a clear picture on the impact of the USA induced trade war is there. Anyways equities offer a much better return than gold in the short term. Risk is much higher in stocks than gold but returns outweigh risk. I again repeat that gold investment is not for a few weeks to a quarter. Gold h...Read More
NEW YORK, July 11 (Reuters) - The U.S. Treasury Department on Wednesday sold $22 billion in 10-year notes to strong investor demand at a yield of 2.859 percent, slightly below the 2.962 percent yield set at the prior auction in June, Treasury data showed.Indirect bidders, which include fund managers and foreign central banks, bought 65.04 percent of the 10-year supply , which was their largest sha...Read More
Source: www.finra.org; Ycharts; BMG Group Inc.Read More