ABUJA, Feb 28 (Reuters) - The International Monetary Fund (IMF) projects that Nigeria will "muddle through" with its economic policies in the medium term, according to a report seen by Reuters on Wednesday.The lender warned that "comprehensive and coherent" economic policies "remain urgent and must not be delayed by approaching elections and recovering oil prices".The...Read More
By RambusI'm going to use this long term weekly chart for the HUI as a proxy for the other PM stock indexes. This chart also shows you why I've remained very cautious on any PM stock rally.What we know for sure is that the HUI rallied strongly out of its January 2016 low to the August 2016 high which was very impressive. At the time it looked like the initial impulse move in a brand new bull mar...Read More
Apple CEO Tim Cook has one big hope for the future - that he lives to see the end of money.Continue...Read More
* Fed chair's testimony read as striking hawkish tone* Weaker-than-expected U.S. data fails to tarnish dollar* Euro zone inflation slows, clipping euro bulls* Yen edges higher after BoJ trims super-long JGB buying (Recasts, adds comment, FX table, updates prices, changes byline, dateline; previous LONDON)By Gertrude Chavez-DreyfussNEW YORK, Feb 28 (Reuters) - The dollar rose to five-week highs on...Read More
In the third Goldnomics podcast, we consider whether the gold price will reach $10,000 per ounce in the coming years and what factors will drive prices?As the "Everything Bubble" continues to inflate, higher gold prices appear to be on the horizon. Stephen Flood, CEO of GoldCore and Mark O'Byrne, Research Director and world renowned precious metals analyst discuss the outlook for the gold...Read More
The seaborne iron ore market softened on Wednesday February 28 with few bids made in response to the large number of offers, most of them from traders.Key driversChina's benchmark iron ore futures contract retreated for a second day, while spot rebar and hot-rolled coil prices in the country also fell 10-20 yuan ($1.60-3.20) per tonne during the day.With downstream steel demand yet to pick up afte...Read More
The HUI Index just closed below both 2017 and 2018 lows. Continue...Read More
Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to announce that it has completed a non-brokered private placement for gross proceeds of $1,516,060 which will be used to fund step out drilling at its Los Chapitos project ("Chapitos"), located in southern Peru, and for general working capital. The non-brokered private placement consisted of 4,331,600 units at a pr...Read More
China's domestic rebar prices withdrew on Wednesday February 28 amid weak demand. Domestic Eastern China (Shanghai): 4,020-4,060 yuan ($637-643) per tonne, down 10 yuan per tonne Northern China (Beijing): 4,100-4,130 yuan per tonne, narrowed downward by 10 yuan per tonne Demand for rebar from the construction sector remained weak due to China's soft housing market, participants said. Since early t...Read More
3 Hots Things to Know About Stocks Right Now The S&P 500 Net Earnings Revisions Index (NERI) popped to 21.0% during February, the highest positive reading since the start of the data in 1985, points out Yardeni Research. Papa John's (PZZA) shares will be under pressure after an ugly fourth quarter. It will exit its contract with the NFL.Netflix (NFLX) is closing in on one hot month: sha...Read More
Today, we're bringing readers the three best junior mining silver stocks to buy in 2018, which all have massive upside.During the last precious metals rally, starting in early 2016 through mid-year, silver gained 46%. However, the Global X Silver Miners ETF (NYSE Arca: SIL) gained 231%. And the ETFMG Prime Junior Silver ETF (NYSE Arca: SILJ) gained a whopping 344%.Still, when most investors think...Read More
** Online property advertiser REA Group drops asmuch as 2.5 pct to A$75.1, its lowest in over two weeks, as ittrades ex-dividend** Shares mark their biggest intraday pct fall in nearlythree weeks, head for sixth straight session of losses** Bendigo and Adelaide Bank and retalierWoolworths Group also trade ex-div, fall 4.4 pct and2.4 pct, respectively** Shares of the bank and retailer among top dra...Read More
By Wayne ColeSYDNEY, March 1 27 (Reuters) - Australian businessinvestment suffered a surprising slip last quarter as minersspent less on buildings, yet other sectors splashed out more onplant and machinery in a positive sign for economic growth.Investment dipped a seasonally adjusted 0.2 percent in theDecember quarter to A$29.6 billion ($22.91 billion), data fromthe Australian Bureau of Statistics...Read More
(Adds detail on revised GDP)* Q4 capex +4.3 pct yr/yr, seasonally-adjusted 3.1 pctqtr/qtr* Suggests upward revision to revised Q4 GDP data out March8* Recurring profits +0.9 pct yr/yrBy Stanley WhiteTOKYO, March 1 (Reuters) - Japanese companies raised theirpace of investment in plant and equipment in October-December,suggesting the government will revise up its initial estimate ofeconomic growth f...Read More
The Oyu Tolgoi copper and gold mine in Mongolia's southern Gobi Desert will lift force majeure effective March 1 and majority owner Turquoise Hill Resources Ltd said on Wednesday that it expected to make up any sales-related effect over the next few quarters.Force majeure was declared Jan. 17 after protests by Chinese coal haulers disrupted deliveries by blockading roads near the Chinese-Mongolian...Read More
Gold pour at Porcupine mine. Image: GoldcorpAccording to the World Gold Council primary gold production hit another record in 2017 after nine years of growth in output, albeit at a much slower pace.Global gold production totalled roughly 105m troy ounces in 2017. Output is up 525 tonnes or nearly 17m ounces since the start of the decade.The top 10 listed, non-state owned gold miners are responsibl...Read More
** Japan Airlines Co rises 2.9 pct to one-monthhigh of 4,209 yen** Co says to buy back up to 2 pct of own shares worth 20bln yen($187.48 mln) ** Co reveals mid-term business plan ** As of the previous close, the stock had fallen 7.24percent so far this year.** As of 00:24 GMT, about 1.02 million shares of theTokyo-based company have been traded, about 56.7 percent oftheir 30-day moving average of...Read More
Copper futures trading on the Comex market in New York fell for the fourth straight session on Wednesday on fresh doubts about the strength of the economy in top consumer China.Copper for delivery in May slumped 1.8% to a low of $3.1295 a pound ($6,900 a tonne) in early afternoon trade, down more than 5% so far this year.Chinese manufacturing data suffered its biggest fall in five years in Februa...Read More
Sweden's billionaire Lundin family is looking to spend as much as $3 billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project.Lundin Mining Corp. is on the prowl for a long-life zinc, nickel or copper asset and would shell out $1 billion to $3 billion, Lukas Lundin said in an interview Wednesday from the BMO Global Metals & Mining Con...Read More
SHANGHAI, Feb 28 (SMM) – Nonferrous metals futures saw mixed trading on Wednesday February 28 with SHFE lead leading the loss with a 1.5% drop. SHFE copper was down by 1.4%, zinc slid over 1%, while nickel edged down. Aluminium and tin inched up.In the ferrous market, rebar and hot-rolled coil were up slightly while coking coal was down over 1%. Coke and iron ore edged down.Copper: The SHFE...Read More