Don’t rock the boat baby, don’t tip the boat over. These lyrics by the Hues Corporation are incredibly appropriate when considering today’s statement made by the Federal Reserve following this month’s FOMC meeting. The statement indicated that they would leave interest rates as they are and maintain their projected pace to raise rates two more times this year. Collectively...Read More
Base metals prices on the London Metal Exchange were for the most part firmer on the morning of Wednesday May 2, with five of the six base metals showing gains averaging 0.6%, while tin bucked the trend with a 0.1% decline. Copper led on the upside with a 1% gain to $6,816 per tonne. Volume on the LME has rebounded with the return of Chinese participants following public holidays in China on Monda...Read More
SHANGHAI, May 2 (SMM) –Copper: LME copper fell under the pressure of stronger US dollar during the Labour Day holiday. Technically, it now stands below all moving averages and without support. We expect it to trade at $6,740-6,800/mt today with the SHFE 1806 copper at 51,000-51,500 yuan/mt. Spot discounts are seen at 100-50 yuan/mt with May invoices.Aluminium: LME aluminium is expe...Read More
Numis has adjusted its target price from £8 (US$10.85) to £6 on the back of "industrial unrest" at its Tongon mine in Côte d'Ivoire, a mining code upheaval in the Democratic Republic of Congo that hosts its Kibali joint venture, and "recent unrest" in Mali, where it runs the massive Loulo-Gounkoto mine complex. This is despite a company statement early this week that, while...Read More
Vast Resources PLC (LON:VAST) CEO Andrew Prelea caught up with Proactive Investors to discuss the thinking behind their decision to team up with Botswana Diamonds PLC (LON:BOD) to investigate diamond opportunities together in Zimbabwe.Under the terms of the MoU, the two companies have agreed to exchange information derived from past exploration on areas prospective for diamonds in Zimbabwe a...Read More
RAPAPORT... The London Diamond Bourse (LDB) has appointed Alan Cohenpresident, succeeding Menachem Prager, it said Wednesday. "I believe [Alan] will be an effective advocate for the UK'sdiamond industry both at home and abroad," said chief operating officerVictoria McKay. "His natural gravitas along with his industry experience makehim a valuable asset." Cohen has been a member of the exchange sin...Read More
China's domestic rebar prices increased sharply on Wednesday May 2 following the rise in billet and futures. Domestic Eastern China (Shanghai): 4,020-4,060 yuan ($634-640) per tonne, up 130 yuan per tonneNorthern China (Beijing): 3,870-3,900 yuan per tonne, up 120-130 yuan per tonneBillet prices increased by 50 yuan per tonne over the long weekend break and by a further by...Read More
SHANGHAI, May 3 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index registered three consecutive gains and closed at 92.725, up 0.28% overnight.Base metals saw mixed trading. LME copper rebounded from a three-week low, and SHFE copper saw a smaller decline as the expansion in China’s manufacturing sector accelerated...Read More
SHANGHAI, May 3 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index registered three consecutive gains and closed at 92.725, up 0.28% overnight.Base metals saw mixed trading. LME copper rebounded from a three-week low, and SHFE copper saw a smaller decline as the expansion in China’s manufacturing sector accelerated...Read More
(Kitco News) - A cautious Federal Reserve, not anxious to raise interest rates faster than expected, is breathing new life into the gold market as prices bounce off recent four-month lows. As expected, the Federal Reserve kept interest rates unchanged within a range between 1.50% and 1.75%. However, cautious comments from the central bank regarding inflation pressures have been positive for the ye...Read More
Copper Call – SELL Copper at CMP 455.60 for Target tomorrow around 452.60 – 451.50 with SL Above price 458.6AFTER POST CONTENT Read More
SHANGHAI, May 3 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index registered three consecutive gains and closed at 92.725, up 0.28% overnight.Base metals saw mixed trading. LME copper rebounded from a three-week low, and SHFE copper saw a smaller decline as the expansion in China’s manufacturing sector accelerated...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of the April ADP employment report. Consensus for April private employment was 193,000 versus 241,000 in March. Actual was 204,000.First quarter earnings continue to pour in. Reports released since yesterday's close included ADP, Ameri...Read More
The countdown is on to GT Gold picking up where it left off as heavy winter snow set in on the alpine mountain slopes and valleys at Tatogga in October last year, temporarily freezing drilling activity that had already revealed one part of an extensive, dense vein system (Saddle South) with grades as high as 51.53 grams per tonne over 6.95m in near-surface drill intercepts, and a nearby copper-gol...Read More
Larry Bottomley, chief executive of Chariot Oil & Gas Limited (LON:CHAR) discusses with Proactive's Andrew Scott the Rabat Deep exploration well, offshore Morocco, which has failed to find a hydrocarbon accumulation.Bottomley says the well was drilled safely to a depth of 3,180 metres and while it didn't encounter oil or gas it did penetrate a thick top seal and tight, fractured carbonates in...Read More
(Kitco News) - Gold and silver prices moved moderately higher in the wake of a somewhat dovish FOMC statement from the Federal Reserve Wednesday afternoon. The Fed officials signaled they are not worried about inflationary price pressures becoming problematic. Such suggests the U.S. central bank won't become too aggressive on raising interest rates. June Comex gold futures were last up $4.20 an ou...Read More
SHANGHAI, May 2 (SMM) – Nonferrous metals rebounded on the afternoon of May 2, buoyed by ferrous metals. SHFE lead rose 1.58% and nickel gained close to 1%. Zinc inched up slightly. Copper closed nearly 1% lower while aluminium and tin edged down.The ferrous complex rose across the board. Rebar led the increase with a gain of 4.28%. Coke and coking coal grew about 4%. Hot-rolled co...Read More
Today lead Intraday – Lead Sell call 756 given at price 156.15 Achieved 2nd Target 154.80. CMP 153.40. Total profit of 1.35 x 2 lot = 2.70 PointsTIPS ID 756 : Mcx Lead - SELL Lead at CMP 156.15 for Target 155.25 - 154.80 with SL Above price 157.15AFTER POST CONTENT Read More
SHANGHAI, May 2 (SMM) – Nonferrous metals rebounded on the afternoon of May 2, buoyed by ferrous metals. SHFE lead rose 1.58% and nickel gained close to 1%. Zinc inched up slightly. Copper closed nearly 1% lower while aluminium and tin edged down.The ferrous complex rose across the board. Rebar led the increase with a gain of 4.28%. Coke and coking coal grew about 4%. Hot-rolled co...Read More
SHANGHAI, May 2 (SMM) – Nonferrous metals rebounded on the afternoon of May 2, buoyed by ferrous metals. SHFE lead rose 1.58% and nickel gained close to 1%. Zinc inched up slightly. Copper closed nearly 1% lower while aluminium and tin edged down.The ferrous complex rose across the board. Rebar led the increase with a gain of 4.28%. Coke and coking coal grew about 4%. Hot-rolled co...Read More