The price for steel rebar in Egypt was stable in the week ended Thursday October 24, but the import price for steel billet has increased again, sources have told Fastmarkets.Egyptian rebar producers reduced their domestic prices on October 9, but have not made any further changes since then.Ezz Steel, Egypt's biggest producer, was currently offering rebar at E ?10,900 ($672) per tonne, El Marakby...Read More
eBay predicted weaker-than-expected revenue for its fourth quarter The shares of eBay Inc (NASDAQ:EBAY) are eyeing four-month lows today, following a sub-par earnings report. While its reported earnings per share of 67 centsand $2.65 billion in revenue beat analyst estimates, the e-tailer predicted weaker-than-expected revenue for the holiday quarter. The forecast has analysts swarming thestock. S...Read More
Baird analysts are moving to the sidelines on ARWRGene silencing expert Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) has been a major winner in 2019. The shares are up more than 200% year-to-date and have added 41% in the past month alone, while yesterday touching their highest point in almost 12 years. However, one brokerage firm is telling investors it's time to move to the sidelines on ARWR stoc...Read More
Boris Johnson struggles to push the Brexit agreementthrough the British Parliament. For it can bite back! Who wins this battle? Onecould hope that gold, but this is not so certain… Johnson’s Struggle,ExplainedOn Thursday, the breaking news came out that the EUand the UK reached agreement on Brexit. Theagreement scrapped the Irish backstop that had formed the bulk of theopposition to t...Read More
NOK hit a six-year low out of the gateNokia Oyj (NYSE:NOK) stock has plunged 21.3% to trade at $4.02 -- earlier hitting a six-year low of $3.98 -- after the Finnish telecom network equipment maker cut its 2019 and 2020 profit guidance, citing rising costs associated with 5G technology and margin pressures. NOK also said it will temporarily suspend its dividend payment until its cash flow stabilize...Read More
Microsoft's strong report is helping the Dow Investors are again monitoring a heavy dose of corporate earnings this morning. Dow Jones Industrial Average (DJI) futures are getting a boost thanks to well-received reports from Microsoft (MSFT) and Dow (DOW), which are overshadowing pre-market losses for 3M (MMM). While there is some economic data to consider today, including this morning's weekly jo...Read More
The oil markets rank among the mostvolatile commodity markets in the world, thanks in large part to the myriadfactors that determine oil prices. Geopolitical concerns, the actions ofspeculators, regional tensions, demand and supply considerations, alternativetechnologies, and many interrelated factors determine oil prices. For example,the Iranian attack on SaudiArabian oil fields was a major setba...Read More
China's domestic rebar prices were unchanged on Thursday October 24 , although market participants told Fastmarkets they expected prices to start dropping amid weakening demand despite data showing a sharp decrease in inventory levels.Eastern China (Shanghai): 3,580-3,610 yuan ($507-511) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedSpot market inventories...Read More
- RambusKeeping an open mind when it comes to trading the markets is paramount. If one gets locked into one scenario and refuses to acknowledge any other possibility you will eventually find yourself on the wrong side of the trade. Even though I have a ton of bullish charts for the PM complex I also have just as many charts which show possible negative price action.This last chart for tonight...Read More
- Avi GilburtThis market has been difficult for both the longs and the shorts for months now. While it has been unwilling to break down, it has also been equally unwilling to break out.What makes me scratch my head even more of late is that the Fed has come to the table with its "not-really-QE-4" of $60 billion a month. For those that remember, QE1 was approximately $100 billion a month on ave...Read More
COLORADO SPRINGS, CO, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the "Company") is pleased to announce it has increased its instituted annual dividend from $0.02 per common share to $0.04 per common share. This increases the monthly dividend to one-third of a cent per common share for October 2019 payable on November 25, 2019 to shareholders of recor...Read More
By: Ira EpsteinGold continues of the path of trying to breaking down, $1475 area support on weekly chart. Gold in sideways market and difficult to read at times..Read More
Gold is not rising on higher chances that a US-China trade deal will be done next week. Federal Reserve is expected to cut interest rates next week. Brexit will also be on focus. Rest there are no new factors. A US-China trade deal can result in a short term correction in gold and silver. However I will prefer to use sharp dips to invest in gold and silver. To all my readers, I have been a hardc...Read More
After a brief bout of the yips that lasted from August to early October, the S&P 500 is once again close to hitting a new all-time high. New highs on their own are never a bad thing, and short periods of volatility are common, but the question now becomes whether those highs can be sustained. Because that's been a difficult proposition over the past year. The S&P's most recent high, which...Read More
Gold went through a dark time at the turn of the century.Central banks are gold's leading proponents.A quiet love for the yellow metal.The Dutch make the case.GDXJ will outperform gold on the upside.Gold is money. The yellow metal has been around as a means of exchange long before there were dollars, euros, yen, pounds, yuan, or any of the other currencies of the world today. The role of gold as a...Read More
Seaborne iron ore prices looked set to find support from restocking demand in China in October but the outlook for the rest of the quarter and months ahead is uncertain.The spread between the mid-grade iron ore products, represented by Fastmarkets' index for 62% Fe iron ore, and the high-grade materials, represented by Fastmarkets' index for 65% Fe iron ore stood at $6.60 per tonne in September th...Read More
The proposed takeover of steelmaker British Steel by a Turkish army pension fund is looking uncertain with the UK government indicating it is willing to open talks with other interested parties, the official receiver said.Ataer Holdings, a division of Turkish army pension funk Oyak, had been in exclusive talks with the British government regarding the proposed takeover of the Scunthorpe-based...Read More
Gold prices settled higher on Wednesday for the first time in four sessions, as a retreat in some assets considered risky, amid political uncertainties like Brexit, underpinned gains in the yellow metal. December gold GCZ19, -0.03% on Comex rose $8.20, or 0.6%, to settle at $1,495.70 an ounce, after a decline of less than 0.1% on Tuesday. Prices for the most-active contract remained below $1,500,...Read More
Fortescue Metals Group (FMG) has kept its shipment guidance unchanged for its 2020 financial year (FY20) at 170-175 million tonnes, according to its latest quarterly report, released on Thursday October 24. The shipment guidance also included 17-20 million tonnes of the miner's 60.1% Fe Western Pilbara fines, a product first shipped out in December 2018.Strong demand from Chinese steel mills, with...Read More
Seaborne iron ore prices looked set to find support from restocking demand in China in October but the outlook for the rest of the quarter and months ahead is uncertain.The spread between the mid-grade iron ore products, represented by Fastmarkets' index for 62% Fe iron ore, and the high-grade materials, represented by Fastmarkets' index for 65% Fe iron ore stood at $6.60 per tonne in September th...Read More