In light of feedback received as part of the consultation on its international cobalt price specifications, Metal Bulletin will change the names of its benchmark in-warehouse Rotterdam assessments from January 2019. From January 2019, the name 'standard-grade' will replace the name 'low-grade'. The name 'alloy-grade' will replace the name 'high-grade'. The last date prices will be published under...Read More
Healthcare is in focus after Trump's speech on drug pricesStocks are mostly higher today, with the Dow heading towards its seventh straight win. President Trump spoke at 2 p.m. ET today regarding drug prices, revealing a plan to lower prescription costs. Drug stocks Akcea Therapeutics Inc (NASDAQ:AKCA), Zymeworks Inc (NASDAQ:ZYME), and Omeros Corporation (NASDAQ:OMER) are all specific names that...Read More
Chile's Caserones copper operation, majority-owned by Japan's top smelter, JX Nippon Mining & Metals, in conjunction with fellow miner Mitsui Mining & Smelting Co., and in which Mitsui Co. has a 22.63%-stake, continues to be a source of pain for the companies, as they struggle to bring it to full capacity and meet profit targets.The mine, behind schedule ever since it began producing in May 2014,...Read More
Thousands of articles have been written about the so-called Russian hack of the US election. The term "Russian hack" suggests the Russkies actually found a way to subvert the results of voting machines.But of course, no convincing evidence has been presented to support such a charge. In fact, when you drill down a few inches below the surface, you find this charge instead: Russia hacked into email...Read More
LONDON (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.1/HEY, BIG SPENDERS?The recent U.S. tax changes are estimated to have reduced annual personal taxes by $115.5 billion. That means more money in the pockets of consumers, who drive two-thirds of the economy. Now that the personal income tax...Read More
HighlightsLynette Zang, Chief Market Analyst at ITM Trading makes her show debut with in depth analysis on risk of impending global-hyperinflation. Thousands of years of monetary history reveals, only gold money is inflation resistant, unlike fiat currency that inevitably inflates away into oblivion. In only 100 years the purchasing power of the dollar has evaporated, data from the Federal Reser...Read More
Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he worked on the floor of the NYSE. He i...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort198,54891,10857,613181,586316,570437,747465,291Change from Prior Reporting Period -11,029-11,690-8,5431,8514,963-17,721-15,270Traders18783864953282184 Small Speculators LongShortOpen Interest 53,65126,107491,398 1,363-1,088-16,358 non reportable positionsChange from the previous...Read More
First published on Sun May 6, 2018 for members of ElliottWaveTrader.net:A sideways correction lasting a year and a half certainly does a lot to sour investors on a market.And, even though we have not dropped below 20 in GDX this entire time and the GLD has been consolidating just under its breakout region for months, the bearishness and frustration in the complex is palpable.In fact, I have even s...Read More
Trump's plan to lower prices is called "American Patients First"Healthcare stocks are in focus this afternoon, after President Donald Trump unveiled a plan lower drug prices not long ago, entitled "American Patients First." The sector is trading higher following the highly anticipated event, and options traders are clamoring to hop in on the action. XBI Pop Draws Short-Term Options BullsAt last ch...Read More
Ethiopia has suspended a mining licence for MIDROC Gold, company owned by Saudi billionaire Mohammed al-Amoudi, after more than a week of sometimes violent protests in a town near the mine.Demonstrators had blockaded roads in the country's unruly Oromia region since April 30, preventing people from going to work and forcing schools to cancel classes, asking the government to revoke a 10-year mini...Read More
CloseGain/LossOn WeekGold $1318.90-$1.70+0.37%Silver$16.67-$0.05+1.03%XAU83.86+0.07%+1.77%HUI182.24-0.06%+0.47%GDM639.91-0.00%+1.16%JSE Gold1068.30+8.70-4.19%USD92.54-0.12-0.06%Euro119.44+0.19-0.11%Yen91.47+0.13-0.28%Oil$70.70-$0.66+1.41%10-Year2.970%+0.003+0.85%Bond143.21875+0.03125-0.22%Dow24831.17+0.37%+2.34%Nasdaq7402.88-0.03%+2.68%S&P2727.72+0.17%+2.41% The Metals: G...Read More
Plenty of stupid ideas kill people. But one man’s stupid ideas have killed over a hundred million people.Karl Marx was born 200 years ago today. And despite the utter failure of his communist philosophy in practice, the cult lives on. Still people want to try again… this time they will get it right.Karl Marx and Friedrich Engels originally published The Communist Manifesto in 1848. It...Read More
Prices of Chinese domestic battery-grade lithium compounds stemmed the recent downtrend, while prices in other regions assessed by Metal Bulletin dipped on Thursday May 10. Battery-grade lithium compounds spot prices in China stabilized this week Rest-of-the-world battery-grade lithium compounds softened due to price falls in the Chinese domestic market over the past three weeks Sluggish...Read More
By Steve St. AngeloMost Americans don't know, but the housing market is heading toward another epic bubble. However, the bubble forming today is much different than the subprime housing meltdown in 2007. Back in 2007, there was an oversupply of homes, whereas today there is a shortage. With more buyers than sellers bidding up prices, the U.S. median home price value hit a new record high o...Read More
CloseGain/LossOn WeekGold $1318.90-$1.70+0.37%Silver$16.67-$0.05+1.03%XAU83.86+0.07%+1.77%HUI182.24-0.06%+0.47%GDM639.91-0.00%+1.16%JSE Gold1068.30+8.70-4.19%USD92.54-0.12-0.06%Euro119.44+0.19-0.11%Yen91.47+0.13-0.28%Oil$70.70-$0.66+1.41%10-Year2.970%+0.003+0.85%Bond143.21875+0.03125-0.22%Dow24831.17+0.37%+2.34%Nasdaq7402.88-0.03%+2.68%S&P2727.72+0.17%+2.41% The Metals: G...Read More
Global demand for gold is increasing while new discoveries of gold remain small Gold mining output in Australia is forecast to decrease by 50% in the next eight years Decline in global gold mining supply makes a price increase almost certainGold nugget (placer gold) from Colorado, USA. Source: Commons.wikimedia.orgby Lawrence Thomas, Gold TelegraphThe demand for gold is increasing, yet new di...Read More
Full Article: You might want to think about ditching the FANG stocks for gold minersBy: Jesse FelderRising gold prices could result in major gains for these stocks: Barrick Gold, Agnico Eagle, Nemont Mining and Goldcorp.These BANG stocks are trading at a significant discount to its normal range. Full Article: You might want to think about ditching the FANG stocks for gold minersBy: Jesse Felder...Read More
This first chart is a daily line chart for GLD which shows it has completed 5 reversal points so far and is working on the all important 6th reversal point back up to the top rail. This is where the bulls need to step up to the plate. The weekly chart below shows the 2 1/2 year triangle that has been building out with 5 completed reversal points so far. A touch of the bottom rail will complete the...Read More
Some GameStop calls are seeing buying activity amid the dipGameStop Corp. (NYSE:GME) keeps getting hammered. The shares of the video game retailer have given back roughly half their value over the past 12 months, and today they're trading down 3.7% at $12.55, after the company announced the resignation of CEO Michael Mauler, who just took the position in February. Co-founder Daniel DeMatteo was na...Read More