Base metals prices on the London Metal Exchange are for the most part weaker this morning, Wednesday March 21, with all of the metals, except lead and tin, showing average losses of 0.3%. Copper is down by 0.4% at $6,732 per tonne, while lead is up by 0.4% at $2,360 per tonne and tin is little changed.Volume has been average with 7,278 lots traded as of 07.38 am London time. The precious metals pr...Read More
WASHINGTON/NEW YORK (Reuters) - Tech start-ups that issue digital tokens to raise funds are falling in line with U.S. securities laws or seeking legal ways to skirt them after the Securities and Exchange Commission (SEC) said it planned to regulate the market.The issuers are increasingly filing their ‘initial coin offerings (ICOs)’ with the SEC, adding customer checks, barring U.S. inv...Read More
Indonesia's state mining holding company, PT Inalum, expects to reach an agreement soon on bank financing to buy a controlling stake in the local unit of Freeport McMoran Inc, the holding company's chief executive said on Wednesday.Indonesia and Freeport have agreed in principle that the U.S. miner would divest 51 percent of its local unit with funding provided by Inalum for the purchase of the ri...Read More
The comments above & below is an edited and abridged synopsis of an article by Brandon SmithWe could be witnessing the first shots fired in a global economic war as the Trump administration prepares to implement trade tariffs. This could provide cover for attacks on the US fiscal system by China, Japan, Russia, the EU, OPEC nations, etc., the ultimate being a dumping of their US debt holdings and...Read More
By Graham Summers The big questions being tossed around Wall Street today are: why are markets such a mess? Why are we getting these wild swings? The reality is that the markets are NOT a mess. These are actually normal healthy markets. Healthy markets move, sometimes a lot in a small span of time. The real issue is that from '09 until recently, the market was completely artificial because Ce...Read More
The Dow erased a 250-point leadThe Dow was up 250 points soon after the Fed officially raised interest rates and forecast threerate hikes in 2018, as expected, briefly sending the 10-year Treasury yield soaring. The central bank also said "the economic outlook has strengthened in recent months," and raised its projections for the fed funds rate in 2019. However, stocks waffled and eventually turn...Read More
Mincon (AIM: MCON) CEO Joe Purcell says the company has hit a ?,?120 million (US$147 million) annual revenue run rate following its latest acquisition, of Sweden's Driconeq. The Irish drilling products manufacturer this week reported ?,?17.1 million net earnings on 2017 full-year sales of ?,?97.4 million, up 28% on the previous 12 months.Staff reporter Ireland Mincon has acquired Swedish drill pip...Read More
Areyou feeling lucky? We all should. Whether you’re short or long gold (or you’rewaiting on the sidelines), the additional day of signals is truly a blessing.That is if you know what to look at. The previous days and weeks provided uswith multiple signs and yesterday’s price action served as the – likely final –sign before the big price move. Were you listening? Let&r...Read More
CloseGain/LossGold $1333.40+$23.00Silver$16.60+$0.40XAU80.59+3.16%HUI174.49+3.12%GDM609.50+2.46%JSE Gold1066.77+5.10USD89.65-0.76Euro123.47+1.01Yen94.62+0.54Oil$65.17+$1.6310-Year2.882%-0.005T-Bond143.78125-0.0625Dow24682.31-0.18%Nasdaq7345.29-0.26%S&P2711.93-0.18% The Metals: Gold saw decent gains in Asia and London and climbed $16.10 to as high as $1326.50 in late morni...Read More
Dear Friend of GATA and Gold:One could spend a lifetime trying to correct the unsupported beliefs about the gold market expressed by Keith Weiner of Monetary Metals, but your secretary/treasurer has his own failings to correct, like his own omission yesterday, in "Does Weiner Really Know What Central Bankers Think Better Than They Themselves Do?" --http://gata.org/node/18115-- of another telling...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been stable over the past week due to a slow market, sources told Metal Bulletin this week.Buyers have gone into "wait-and-see" mode until the price trend becomes clear, according to market sources."European mills are sold out for second-quarter-rolling coil," a German trader said. "Producers will probably increase prices for the third quar...Read More
Needham upgraded ARNA shares to "buy"The Dow is exploding higher this afternoon after the Fed raised rates -- as expected -- and upped its forecast for U.S. economic growth. Three stocks making notable moves are drugmakers Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) and Alder Biopharmaceuticals Inc (NASDAQ:ALDR), as well as electric automaker Tesla Inc (NASDAQ:TSLA). Let's take a closer look at wha...Read More
The comments above & below is an edited and abridged synopsis of an article by Egon von GreyerzGambling: the wagering of something of value on an event with an uncertain outcome. If you make a bet you may win a prize, but you can also lose it all.The odds are naturally always in favour of the house, and that has not changed for centuries. In the last 100 years, the bankers, or the house, have made...Read More
The gold price is up just 1% year to date in 2018 and has advanced 5.5% from the December 2017 low. There are some bullish signs from the chart, including a number of higher highs and higher lows following the late 2015 bottom at $1,045. But it certainly hasn’t been the powerful breakout the gold bugs have been hoping to see. The late 2017 spike above the resistance trend line was also bulli...Read More
Key Metric LIBOR OIS Signals Major Credit Concerns - Widening of the spread between LIBOR OIS (overnight index swap) rate raises concerns- Spread jumped to 9 year widest spread, rising to 54.6bps, most since May 2009.- Libor recently moved to over 2% for first time since 2008- Wider spread usually associated with heightened credit concernsEditor: Mark O'ByrneMajor credit concerns are back as one...Read More
The big questions being tossed around Wall Street today are: why are markets such a mess? Why are we getting these wild swings?The reality is that the markets are NOT a mess. These are actually normal healthy markets. Healthy markets move, sometimes a lot in a small span of time.The real issue is that from '09 until recently, the market was completely artificial because Central Banks cornered ALL...Read More
By Ronan Manlyhttps://www.bullionstar.com/Collectively, the central bank sector claims to hold the world's largest above ground gold bar stockpile, some 33,800 tonnes of gold bars. Individually within this group, some central banks claim to be the top holders of gold bullion in the world, with individual holdings in the thousands of tonnes range.This worldwide central bank group, also known as t...Read More
The equities are higher today, but a dip could be on the horizonIt's been a rough week so far for many tech stocks, with a decline in Facebook (FB) shares weighing on the sector. In fact, the Technology Select Sector SPDR Fund (XLK) gapped lower to start the week, and is now trying to avoid a fourth straight loss. What's more, a pair of tech stocks could be poised to dip again next week, if recen...Read More
The big questions being tossed around Wall Street today are: why are markets such a mess? Why are we getting these wild swings?The reality is that the markets are NOT a mess. These are actually normal healthy markets. Healthy markets move, sometimes a lot in a small span of time.The real issue is that from '09 until recently, the market was completely artificial because Central Banks cornered ALL...Read More
There was a large inflow of gold into exchange-traded-fund vaults at thestart of the week as investors continued to fret over a potential trade war,says BMO Capital Markets. News organizations reported an inflow of some 14.3tonnes, the most since autumn, on Monday. “As trade frictions continue to escalate, macro asset allocationback towards gold is accelerating at the present time,” BM...Read More