Stocks plummeted after a tough day of earnings and a surge in bond yieldsDespite a positive open, the Dow ended with a loss of more than 400 points, extending its losing streak to a fifth day -- the longest since March 2017. 3M (MMM) stock paced the blue-chip earnings losers, with Caterpillar (CAT) also reversing lower to end deep in the red. Meanwhile, a negative earnings reaction for Google pare...Read More
The demand for graphite in China will rise alongside growth in the new energy vehicles (NEVs) market due to its importance as an anode material in batteries, the chairman of Matrass c-Graphene Science Technology Group said at Industrial Minerals' and Metal Bulletin's inaugural Battery Materials conference in Shanghai on Thursday April 19. The rapid development of NEVs will drive graphite demand in...Read More
CloseGain/LossGold $1331.50+$6.50Silver$16.73+$0.10XAU83.28+0.03%HUI182.38+1.40%GDM633.15+0.87%JSE Gold1112.83+2.36USD90.77-0.16Euro122.37+0.29Yen92.13+0.04Oil$67.70-$0.9410-Year2.992%+0.017T-Bond142.50-0.46875Dow24024.13-1.74%Nasdaq7007.35-1.70%S&P2634.56-1.34% The Metals: Gold gained $3.50 to $1328.50 in Asia before it fell back to $1323.50 in London, but it then climbe...Read More
Breaking News! North Korea has agreed todenuclearization. Great! But what does it mean for the gold market? And… why isthis not true? Gold StartsWeek BadlyThe yellow metal struggled on Monday. Its pricedeclined from $1,335 to $1,320, or more than 1.1. percent, as one can see inthe chart below. Chart 1: Gold prices from April 20 to April 23, 2018.The weakness could be caused by many factors....Read More
(Kitco News) - Gold pricesare modestly higher in early U.S. trading Tuesday, on a mild rebound followingrecent selling pressure. There is still not much risk aversion in the marketplaceat present, which continues to limit buying interest in the safe-haven gold andsilver markets. June Comex gold futures were last up $3.70 an ounce at $1,327.70.May Comex silver was last up $0.038 at $16.625 an ounce...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, boosted Tuesday its 2018 profits forecast after beating estimates for first-quarter earnings on strong global demand for its equipment.For the three months ended on March 31, the Deerfield, Illinois-based firm, which is considered a reliable bellwether of global economic activity, reported a net profit of $2.74 per share, above most...Read More
TechCrunch reported on Amazon's possible interest in the QVC rivalLosses for the major U.S. equity indexes are accelerating, thanks to rising bond yields and negative earnings reactions for big-caps 3M (MMM) and Alphabet (GOOGL). While miner Freeport-McMoRan Inc (NYSE:FCX) is slumping alongside the broader stock market, construction firm Chicago Bridge & Iron Company N.V. (NYSE:CBI) and home shop...Read More
Automtaic Earth's Ra?l Ilargi Meijer just posted an essential essay on the world's financial markets - or what used to be the world's financial markets. Here's an excerpt:"[Price discovery] is the process of determining the price of an asset in the marketplace through the interactions of buyers and sellers", says Wikipedia. Perhaps not a perfect definition, but it'll do. They add: "The futures a...Read More
- Russia buys 300,000 ounces of gold in March and nears 2,000t in gold reserves- Russia now holds just over 1,861 tonnes, more than officially reported by China at 1,842t- Both Russia and China have the power to destabilise US dollar by dumping dollar-denominated assets- Turkey has removed all gold held in the U.S. opting for Bank of England and BIS - Turkey follows trend set by both Germany, N...Read More
China will lead the electric vehicle (EV) battery chemistry evolution - moving from popularized nickel-cobalt-manganese (NCM)523 and NCM622 batteries to the NCM811 battery, while the West would keep NCM622 for longer, according to speakers at Metal Bulletin's Battery Materials Conference, held in Shanghai from April 18-19.The adoption of high nickel-content EV batteries will happen much faster in...Read More
– Russia buys 300,000 ounces of gold in March and nears 2,000t in gold reserves – Russia now holds just over 1,861 tonnes, more than officially reported by China at 1,842t – Both Russia and China have the power to destabilise US dollar by dumping dollar-denominated assets – Turkey has removed all gold held in the U.S. opting for Bank of England and BIS – Turkey...Read More
Ford reports earnings after the close on WednesdayFord Motor Company (NYSE:F) will be the first car company to step up to the plate this earnings season, with the Detroit-based automaker scheduled to report first-quarter earnings after the close Wednesday, April 25. Ahead of the event, options activity has been bullish, despite the stock's troubling post-earnings history.Ford stock has produced a...Read More
Canada's Centerra Gold (TSX:CG) has rejected an unsolicited bid for its Kumtor gold mine in Kyrgyzstan from Chaarat Gold Holdings (LON:CGH), received last month, but which the London-listed miner made public on Tuesday.Responding to media speculation, Chaarat confirmed its offer to Centerra to buy Kyrgyzstan's largest gold mine, and though it did not disclosed the sum, said the deal would also in...Read More
OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau said on Tuesday the deadly van attack in Toronto on Monday had not changed the country's threat level or security preparations for a G7 summit in Quebec in June, adding that Canadians must not live in fear.Speaking to reporters outside of parliament, Trudeau said it would take time before the motives of the attacker were understood, but tha...Read More
CloseGain/LossGold $1331.50+$6.50Silver$16.73+$0.10XAU83.28+0.03%HUI182.38+1.40%GDM633.15+0.87%JSE Gold1112.83+2.36USD90.77-0.16Euro122.37+0.29Yen92.13+0.04Oil$67.70-$0.9410-Year2.992%+0.017T-Bond142.50-0.46875Dow24024.13-1.74%Nasdaq7007.35-1.70%S&P2634.56-1.34% The Metals: Gold gained $3.50 to $1328.50 in Asia before it fell back to $1323.50 in London, but it then climbe...Read More
Breaking News! North Korea has agreed to denuclearization. Great! But what does it mean for the gold market? And... why is this not true? Gold Starts Week BadlyThe yellow metal struggled on Monday. Its price declined from $1,335 to $1,320, or more than 1.1. percent, as one can see in the chart below. Chart 1: Gold prices from April 20 to April 23, 2018. The weakness could be caused by many fa...Read More
Russian producers of hot-rolled (HR) and cold-rolled (CR) steel sheet have increased their offer prices for May-rolled products to keep domestic market profitability high while the rouble is weak.Normally, Russian steelmakers export around 35% of their steel products output, according to Metal Bulletin estimates. But in the first quarter of this year, Severstal increased the export share of its to...Read More
Jeff Clark: Frustrated by the comatose silver price? Tired of it going nowhere and being held down?Well, history has a message for you: This trading behavior is normal. Furthermore, similar scenarios from the past say the next price explosion is on the way. I know from past studies that silver doesn’t always shoot up when gold does, in spite of the fact that it almost always gains more than...Read More
The shares are on track to snap their longest win streak since FebruaryThe U.S. dollar has been trending higher in recent sessions, as the 10-year Treasury yield trades near 3% -- a key level it topped earlier today for the first time since January 2014 -- pointing to stiffer inflationary pressures and increased expectations the Fed will raise rates at a quicker-than-forecast pace. As such, the Po...Read More
Anglo American (LON:AAL) won't resume production at its massive Minas Rio in Brazil until the fourth quarter of 2018 due to two pipeline leaks that forced it to halt operations in March, and which will cause the miner an annual group earnings (EBITDA) loss of $300 to $400 million.The announcement is the last of a string of difficulties Anglo has faced with the mine, which was expected to produce...Read More