Oyu Tolgoi, one of the world's largest copper-gold-silver mines, has lifted its one-and-a-half-month long force majeure on concentrates delivery with effect from March 1, operator Turquoise Hill said on Wednesday February 28. The Vancouver-based company, majority-owned by Rio Tinto, is confident that any force majeure-related sales impact will be "made up over the next few quarters," according to...Read More
* USD/MYR fades away from Bollinger uptrend channel 3.2960* Risk aversion hits stocks after US tariff headlines * Asia markets likely to swoon, haven USD could rally later* But economic implications sink US yields, damping dollar* US 10y falls to 2.82%; partly on toned-down Powell * Another regression in oil prices supportive for USD/MYR<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^...Read More
* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=EUGDPQAP 2018 GDP growth poll data* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=EUCPIAP 2018 inflation poll data* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/cb-polls?RIC=EUECBR%3DECI ECB refinancing rate poll dataBy Rahul KarunakarBENGALURU, MARCH 2 (Reuters) - Euro zone economic momentumh...Read More
Base metals traded on the London Metal Exchange are for the most part consolidating after recent weakness, the exceptions are aluminium prices that are up by 0.7% at $2,147 per tonne and lead prices that are down by 0.5% at $2,490 per tonne. The rest are little changed, with copper prices recently quoted at $6,943 per tonne.Volume has been average with 8,708 lots traded as of 07.12 am London time....Read More
* USD/AXJ rally cut short in NYK on Trump's imposition of tariffs * Caught between confident Fed and trade war fears* Reaction of China and Asia awaited; EU promises firm response * USD downside limited as AXJ -ves surface, risk aversion rises * USD/CNY locked in 6.28-6.36 range, watch PBOC yuan mid-point * USD/MYR capped by 3.9285-3.9300, break extends to 3.9420; support at3.9000 Disclaimer: Th...Read More
CloseGain/LossGold $1315.30-$2.30Silver$16.49+$0.10XAU78.93+0.85%HUI173.26+0.81%GDM601.82+0.78%JSE Gold1066.31-2.64USD90.27-0.36Euro122.66+0.66Yen94.24+0.41Oil$60.99-$0.6510-Year2.807%-0.055T-Bond145.3125+0.875Dow24608.98-1.68%Nasdaq7180.56-1.27%S&P2677.67-1.33% The Metals: Gold fell $14.80 to $1302.80 in midmorning New York trade, but it then shot back higher in afternoon trade and ended...Read More
By David HaggithThe Federal Reserve is now hacking its own zombie recovery to death and eating it by reversing the actions it employed to create this artificially supported recovery. Each time the Fed unwinds its balance sheet, 10-year bond rates recoil, and the stock market dances along in countermoves and wild swings. The main theme of my blog has always been that the Fed's centrally planned e...Read More
* USD/SGD back in technical no man's land on conflicting fators* Rally overturned, avoids Bollinger uptrend channel at 1.3260* Intraday support at 1.3151 entrance of downtrend channel* US tariffs trigger stock selloff, risk aversion in Asia expected* But US yields also fell as a result, dampening USD gains* Response from China to Trump's tariffs awaited <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^...Read More
In this episode of the Keiser Report, Max and Stacy discuss the richest people in history leaving economic chaos in their wake, as well as the secrets of Warren Buffett's billions, and the economic inequality that his investment philosophy has caused. In the second half, Max continues his interview with journalist and author, Matt Taibbi, about the political landscape heading into the 2018 midterm...Read More
Vancouver-based Darien Resource Development (TSXV: DRR), which will soon change its name to New Energy Metals Corp., announced today that has entered into an agreement with Artemis Mining to acquire a 100% interest in the Cristal project located in northern Chile. In detail, the mining site is located along the West Fissure, near the border with Peru, which hosts to the majority of Chile's large p...Read More
China's domestic hot-rolled coil prices regained some upward momentum on Thursday March 1 following the release of data showing a lower-than-expected rise in inventory levels over the past week.DomesticEastern China (Shanghai): 4,170-4,190 yuan ($659-662) per tonne, up by 20 yuan per tonneNorthern China (Tianjin): 4,100-4,120 yuan per tonne, up by 10 yuan per tonneThe increase in the HRC market's...Read More
Josh Sigurdson and John Sneisen sit down with Mike Maloney, one of the world's leading educators on gold and silver, the man behind 'The Hidden Secrets of Money' series and most recently, an insightful teacher on the subject of cryptocurrencies. During this interview out of Acapulco, Mexico, Mike Maloney gives us his views on gold and silver in 2018 and where he sees the wealth insurance going in...Read More
Cranbrook, B.C., March 1st, 2018: Eagle Plains Resources Ltd. (TSX-V: "EPL") has received notice from Aben Resources Ltd. (TSX-V: "ABN") confirming that permits are in place and camp construction has commenced on EPL's 100%-owned, 4,656 ha Chico Gold Project located 125km east of La Ronge, Saskatchewan and 40km south of SSR Mining's (formerly Silver Standard Resources) Seabee Gold Operation. Det...Read More
* Softer early - closed -0.4% - risk off on trade friction & lower USTyields* Tokyo CPI, poll 0.8% & unemployment, poll 2.7% lead data - focus on Nikkei* Horizontal Tenkan & Kijun lines do not suggest a trending move* 2 days of losses, with risk broadly offered weigh - primary trend is lower* Close below 106.10, 76.4% Feb bounce would target 105.54 Feb low* 105.31, 76.4% 2016 rise majo...Read More
Despite a relative pessimism regarding macroeconomic fundamentals, the South African rand is expected to gain strength over the next few months and that could mean bad news for the country's gold miners, according to BMI Research.In a recently published report, BMI forecasts a year-end exchange rate of ZAR10.9/USD, up from a previous forecast of ZAR11.6/USD. The firm says that not everyone will be...Read More
Economists are supposed to monitor and analyze the economy, warn us if risks are getting out of hand, and advise us on how to make things runs more effectively - right? Well, even though that's what most people expect from economists, it's not at all how they see their role, warns CFA and and behavioral economist Daniel Nevins.Economists, he cautions, are modelers. They pursue academic lines of th...Read More
We are about to commence a major bull market in Gold, Silver, mining and exploration stocks. Many of them should move up to price levels that will astonish investors. Because there is very little comprehensive research coverage for most precious metals companies, many remain overlooked and undervalued. The oncoming price moves up in the precious metals shares' prices should be far above investor...Read More
China's steel and iron ore futures largely fluctuated downward during morning trading on Thursday March 1 while coking coal and coke contracts ended the session slightly higher than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 4,047 yuan ($639) per tonne, down 3 yuan per tonne May hot-rolled coil: 4,097 yuan per tonne, down 16 yuan per tonne Da...Read More
Not nice, Mr. Powell! Gold prices fell more than 1 percent after your comments as the Federal Reserve's new chairman. What did you say - and what are the implications for the precious metals market? As We Warned, Powell Is More Hawkish We have been alerting investors about the hawkish turn at the FOMC for a long time. For example, in the Gold News Monitor on February 13, we wrote that Powell c...Read More