Comex copper prices fell to a multi-week low to close the week on April 27 morning in the US, with a rising dollar and geopolitical uncertainty weighing on the red metal.Copper for May settlement on the Comex division of the New York Mercantile Exchange collapsed 7.40 cents or 2.4% to $3.0400 per lb. Earlier, the contract weakened to $3.0305, the lowest point since April 6."Next week is going to b...Read More
Precious metals expert Michael Ballanger discusses the U.S. dollar, the Fed, gold and silver. When I was a young lad long before Atari video games and during the era of rotary telephones, hula hoops, and Red Ball Jets running shoes, I used to love to read Action Comics that featured the original "Superman" created by Jerry Siegel and Joe Shuster. All of the kids on the block used to idolize Super...Read More
(Bloomberg) - Ecuadorian officials have held talks with several foreign companies about the possibility of building a copper refinery as the smallest OPEC member looks to reduce its dependence on oil, the mining minister said.Chinese and Japanese companies and Glencore Plc "could be among those interested in the project," Rebeca Illescas said Thursday. The government intends to choose companies i...Read More
A negative earnings reaction for XOM dragged on the blue-chip indexU.S. stocks finished the day mixed, though all three major indexes explored territory on both sides of breakeven. The Dow underperformed its peers, after Exxon Mobil (XOM) sold off after earnings, while the Nasdaq erased a big lead to close near the flatline. What's more, the Dow, S&P, and Nasdaq all closed lower on the week. Big e...Read More
OSAGE CITY, Kansas (Reuters) - Paul Davis has a simple formula for winning over President Donald Trump’s supporters in his Kansas race for Congress: He talks about kitchen table issues, like prescription drug prices and farm tariffs. And he is in no hurry to announce he’s a Democrat.Davis and other party moderates believe that neglected rural and working-class voters in Midwestern dist...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
The gold miners' stocks have mostly been consolidating low this year, exacerbating bearish sentiment. Even with gold grinding higher in a solid uptrend and nearing a major upside breakout, the gold stocks just can't get any love. But that may be about to change, with gold and its miners' stocks in the midst of their spring rally. Strong seasonal tailwinds make May one of the best months of...Read More
CloseGain/LossOn WeekGold $1323.60+$6.10-0.90%Silver$16.52UNCH-3.56%XAU82.93+0.49%-2.57%HUI182.04+0.84%-1.16%GDM634.13+0.61%-0.40%JSE Gold1095.67+0.56-0.70%USD91.51-0.08+1.31%Euro121.28+0.22-1.31%Yen91.75+0.15-1.38%Oil$68.10-$0.03-0.41%10-Year2.959%-0.023UNCHBond143.1875+0.8125+0.13%Dow24311.19-0.05%-0.62%Nasdaq7119.80+0.02%-0.37%S&P2669.91+0.11%-0.01% The Metals: Gold fe...Read More
Base metals prices on the London Metal Exchange were broadly down this morning, Friday April 27, with only aluminium in positive territory - up by 0.8% at $2,289 per tonne. The rest were all lower by an average of 0.3%.Volume is up from this time on Thursday, but at 4,449 lots as of 06.16 am London time is still below average. Thursday's trading started on a weak footing, but most of the metals en...Read More
Goldbehaves like a currency. This has extremely important consequence: gold cannotbe valued like assets which generate cash flows or even as commodities whosevalue can be at least estimated looking at the balance of demand and supply.Does it mean that gold is a mere speculation play? No! You have to remember that gold belongs to the currencies. Asthey have no cash flows, they cannot be valued, but...Read More
Despite positive earnings reactions for BA and MSFT, the Dow is headed toward a weekly lossTraders turned their attention away from President Donald Trump's Twitter feed this week in order to focus on an onslaught of corporate earnings reports and the 10-year Treasury yield -- which topped the key 3% level for the first time in four years on Tuesday. This and a sharp earnings reversal for Caterpil...Read More
MUMBAI/BENGALURU, April 27 (Reuters) - Physical gold demand lacked vigour in most Asian hubs this week amid a slight dip in prices, while the yellow metal switched to a premium in India for the first time in over 1-1/2 months due to a correction in local rates.In India, dealers were charging a premium of up to $1 an ounce over official domestic prices. This compared to a discount of $1 last week a...Read More
As a general rule, the most successful man in life is the man who has the best informationIf trade wars and actual shooting wars (Syria, Yemen) weren't enough for the world economy to worry about, pressuring stock markets and threatening to derail robust global economic growth, there is another elephant in the room looking to stomp on traders, investors and everyday consumers, and that is a curr...Read More
(Repeats earlier story, no change to text)* Spot gold headed for weekly decline* Retail demand in India subdued* Slight pick-up in Singapore in last couple of daysBy Rajendra Jadhav and Eileen SorengMUMBAI/BENGALURU, April 27 (Reuters) - Physical gold demand lacked vigour in most Asian hubs this week amid a slight dip in prices, while the yellow metal switched to a premium in India for the first t...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort225,80489,15854,354175,715337,515455,873481,027Change from Prior Reporting Period -11,48414,9391,8542,180-21,282-7,450-4,489Traders18785804455270185 Small Speculators LongShortOpen Interest 50,53725,383506,410 3,631670-3,819 non reportable positionsChange from the previous report...Read More
CloseGain/LossOn WeekGold $1323.60+$6.10-0.90%Silver$16.52UNCH-3.56%XAU82.93+0.49%-2.57%HUI182.04+0.84%-1.16%GDM634.13+0.61%-0.40%JSE Gold1095.67+0.56-0.70%USD91.51-0.08+1.31%Euro121.28+0.22-1.31%Yen91.75+0.15-1.38%Oil$68.10-$0.03-0.41%10-Year2.959%-0.023UNCHBond143.1875+0.8125+0.13%Dow24311.19-0.05%-0.62%Nasdaq7119.80+0.02%-0.37%S&P2669.91+0.11%-0.01% The Metals: Gold fe...Read More
Gold behaves like a currency. This has extremely important consequence: gold cannot be valued like assets which generate cash flows or even as commodities whose value can be at least estimated looking at the balance of demand and supply. Does it mean that gold is a mere speculation play? No! You have to remember that gold belongs to the currencies. As they have no cash flows, they cannot be valu...Read More
WASHINGTON (Reuters) - President Donald Trump on Friday said that two or three possible sites were under consideration for a meeting between him and North Korean leader Kim Jong Un, and he vowed he would not be “played” by his North Korean counterpart.Trump, meeting with German Chancellor Angela Merkel at the White House, told reporters if it became obvious the United States and North...Read More
CloseGain/LossOn WeekGold $1323.60+$6.10-0.90%Silver$16.52UNCH-3.56%XAU82.93+0.49%-2.57%HUI182.04+0.84%-1.16%GDM634.13+0.61%-0.40%JSE Gold1095.67+0.56-0.70%USD91.51-0.08+1.31%Euro121.28+0.22-1.31%Yen91.75+0.15-1.38%Oil$68.10-$0.03-0.41%10-Year2.959%-0.023UNCHBond143.1875+0.8125+0.13%Dow24311.19-0.05%-0.62%Nasdaq7119.80+0.02%-0.37%S&P2669.91+0.11%-0.01% The Metals: Gold fe...Read More
- Gold mining shares require timing and are speculative- Gold mining: "maximising risk, while minimising reward"- Gold mining is increasingly complicated, difficult & much riskier- Easier, more cost efficient and safer to buy physical gold than mining stocks- "If your strategy is buy and hold, or buy and forget, go for the metal, not the miners"- Owning allocated and segregated gold is a hedge...Read More