Gold prices may have bottomed, and it's only a matter of time before the next leg-up in prices take effect, this according to Gary Wagner, editor of TheGoldForecast.com. "This is an extremely, extremely good year for the price of gold," Wagner told Kitco News. "That being said, I believe right now we have been forming a base, roughly around $1,450."Read More
David looks back at the last rally for gold and discusses how the $300 move became overbought from a technical perspective. That rally has only corrected by a third, which is a good sign of a bull market. He expects that there will be a lower low soon, and then we should be off to higher highs. Almost everything is overvalued today except earnings, which have been flat since 2014. The economy is u...Read More
Prices in the CIS export slab market rose above $400 per tonne fob Black Sea on Monday December 16, as customers from some destinations accepted higher offers on a sharp increase in finished flat steel prices.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $400-405 per tonne on Monday December 16, up from $385-395 per tonne a week earlier.A cargo of Ukrainan sl...Read More
Import prices for steel slab in Southeast Asia and East Asia were stable during the past week, as suppliers' attempts to achieve higher prices failed despite the recovery in downstream hot-rolled coil prices.Fastmarkets' weekly price assessment for steel slab imports, cfr Southeast Asia and East Asia, was $395-410 per tonne on Monday December 16, unchanged from a week earlier."Despite the recent u...Read More
These findings are from the ongoing 200,000 drill testing at its Ontario project. Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) announced in a news release that at its Dixie project in Ontario's Red Lake it drilled a new zone and, in another, existing zone, intercepted its best assay yet.The new zone, dubbed Gap, comprises the 1 kilometer (1 km) long area between the Bear-Rimini and Yuma zon...Read More
Bob Moriarty of 321gold discusses recent copper price moves along with those of a new copper producer. A very short nine weeks ago I was giving good advice to my readers when I said:"I was writing about Nevada Copper Corp. (NCU:TSX; NEVDF:OTC) five months ago and the shares were $0.395. Today as the price of copper has gone down by ten percent and we move into tax loss silly season, the shares ar...Read More
The company states the aim is to better define the gold trend. Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release that an induced polarization (IP) geophysical survey has begun on its Pamlico project in Nevada.The survey, being conducted by Zonge International of Reno, will encompass parts of the Pamlico Ridge and beyond into the Pediment zone. To test the rock responsiveness...Read More
Sector expert Michael Ballanger asserts that statements by American financial and political leaders are little more than market manipulations. "Never trust anything a banker (broker) tells you." former billionaire (now millionaire)Here is a news flash: I am sick to death of The Fed, unelected demigods that rarely, if ever, had to meet payroll. I am also completely disgusted with this unholy "Div...Read More
Recent drill results from both assets are provided in a ROTH Capital Partners report. In a Dec. 11 research note, ROTH Capital Partners analyst Jake Sekelsky reported that Kirkland Lake Gold Inc. (KL:TSX; KL:NYSE) hit high grades on recent drilling at its Fosterville and Macassa properties. "While we view the exploration results as positive, we expect the market to remain focused on the recent pr...Read More
Fastmarkets' Middle East Iron and Steel 2019 event brought together hundreds of the region's top industry executives for meetings, panels, seminars and more this month in Dubai.Delegates left the conference armed with valuable insight to better navigate the industry waters made turbulent by safeguards and other protectionist policies. Participants heard calls from the Turkish steel industry for a...Read More
The S&P notched another fresh highStocks spent most of the day modestly higher, with the Dow coming to rest on a 31-point gain, and the S&P notching yet another record high as investors continue to coast on optimism over last week's phase one trade deal. Individual names that captured Wall Street's attention today were FAANG stock Netflix (NFLX), which surged on well-received international subscri...Read More
No fewer than four price-target hikes came through overnightAxsome Therapeutics Inc (NASDAQ:AXSM) stock surged more than 70% yesterday after the company said its major depressive disorder drug succeeded in a late-stage study, and it plans on filing for a marketing application with the U.S. Food and Drug Administration (FDA) in the second half of next year. The shares closed at a record high of $79...Read More
Two stocks seeing unusual options trading are ATVI and PLCECombing through today's options trading data, there's been unusual options trading on Call of Duty maker Activision Blizzard, Inc. (NASDAQ:ATVI). Traders are opening out-of-the-money calls in the January 2020 series, specifically at the 62.50 and 65 strikes, the two most popular contracts today. Those buying the back-month contracts expect...Read More
XLI is trading near notable technical levels amid an onslaught of U.S.-China trade buzzThe Industrial Select Sector SPDR Fund (XLI) began last week's trading perched just above $80 -- a round-number level that had marked peaks for the shares before they sliced through here in early November as a new round of U.S.-China trade headlines sparked optimism across Wall Street. The industrial-heavy excha...Read More
The S&P has managed to hit an all-time high thoughU.S. stocks are trading mixed so far today. The Dow Jones Industrial Average (DJI) has managed to overcome more selling on Boeing (BA) on the latest 737 MAX news to sport a modest lead, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are holding near breakeven as tech and healthcare shares slump -- though the S&P did manage a fresh record...Read More
HON is seeing support at both the 80- and 160-day moving averagesNorth Carolina-based Honeywell International Inc. (NYSE:HON) has been outperforming on the charts long term, and is now breaking out of a bull flag pattern. The stock also recently came off a convergence of its 80-day and 160-day moving averages, signaling that now is the perfect time to bet on HON with calls. Digging deeper, there l...Read More
Micron will report earnings after the close tomorrowAhead of its fiscal first-quarter earnings report due after the close tomorrow, Dec. 18, analysts are heaping the praise on Micron Technology, Inc. (NASDAQ:MU). Wedbush upgraded the chip stock to "outperform" from "neutral," while hiking its price target all the way to $65 from $44. The analyst in coverage cited several macro trends that could be...Read More
BBBY is continuing its trend higher on the chartsAs a part of Bed Bath & Beyond Inc.'s (NASDAQ:BBBY) new CEO Mark Tritton's 2020 restructuring plan, the home product retailer announced the departure of six senior members. A search to fill the newly combined role for the Chief of Marketing and Chief Brand Officer is also underway, as well as a permanent placement for the remaining positions. Tritto...Read More
Federal Reserve ChairmanJerome Powell’s comments on inflation last Wednesday added fuel to the contra-dollartrade.During a press conferencefollowing the Fed’s decision to leave interest rates unchanged, Powell said,“In order to move rates up, I would want to see inflation that's persistent andthat's significant. A significant move up in inflation that's alsopersistent..."To...Read More
GS stock received a price-target hike this morningGoldman Sachs Group Inc (NYSE:GS) has benefited from the recent stock market rally, hitting a 52-week high of $230.70 yesterday. During this breakout, call buying has ramped up at the major exchanges. This is according to the 10-day call/put volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PH...Read More