Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States adopted a wait-and-see attitude toward the market in the week ended Monday March 26, trying to avoid price declines, sources told Metal Bulletin."Prices are coming down and the market [for CIS-origin flat steel] seems to be frozen," a trader said.Metal Bulletin's weekly price assessment for CI...Read More
By Daniel R. Amerman, CFAMovies can have quite predictable plot lines that we know in advance - but we love them anyway. It could be a romance, where the girl is going to end up with the right guy through a series of improbable events, even though that looks impossible to begin with. It could be an action movie, where our tough and underestimated hero overcomes seemingly impossible odds to just...Read More
Three weeks ago we called for stocks to revisit the February lows. At that time we were told we were "complete idiots" who were going to miss out on the next major Bull Run.Instead this happened:I don't know about you, but that sure looks like a revisit of the February lows to me.So where does this leave us now?Stocks are probably about to begin a massive bull run. Not because fundamentally things...Read More
NEW YORK (Reuters) - Technology stocks led Wall Street’s rebound on Monday as fears over a potential trade war were calmed following reports the U.S. and China are willing to renegotiate tariffs and trade imbalances.All three major U.S. indexes were up more than 2 percent on the heels of their worst weekly performance since January 2016.Last week’s drop was fueled in part by tensions s...Read More
- London house prices falling at fastest pace since 2009- Values fell by 2.6% in year through January- London house prices likely to be weakest in UK over next five years - Inflated prices make London property more exposed to economic and political shocks- Worries over house prices are having a knock-on effect in wider economy- Physical gold to act as much needed hedge against falling property...Read More
Silver producer Hecla Mining (NYSE: HL) is taking Montana environmental regulators to court for labelling the company and its top executive as "bad actors," while giving them 30 days to iron out a complaint that accuses them of violating the state's mine clean-up laws.The Montana Department of Environmental (DEQ) notice to the company, which could require it to pay up to $30 million, focuses on s...Read More
Goldsoared by the end of the week. Miners didn’t – the HUI didn’t even move abovethe previous March highs. Silver’s performance was rather mixed, but closer tothe one of miners than the one of gold. Why did gold rally? Why didn’t minersrally? How can the silver CoT numbers help in this case? Let’sstart with the first question. Why did gold rally in the final par...Read More
One options trader sold premium on the gold-mining ETF todayGold futures are up 0.2% this afternoon to trade at $1,352.20 per ounce, after Goldman Sachs issued a bullish note on the precious metal. The brokerage firm raised its outlook on the EMEA metals and mining sector to "attractive," and said gold looks set to "outperform" amid rising inflation concerns and jitters in the equities market.Opti...Read More
China's stainless flat steel exports experienced a sharp year on year increase in February, although they dropped month on month.China exported 243,205 tonnes of stainless flat steel products, up 46,767 tonnes or 23.81% from 196,438 tonnes a year earlier, according to Chinese customs data released on Monday March 26. Last month's volume, however, is down 42,095 tonnes or 14.75% from January's 285,...Read More
CloseGain/LossGold $1352.90+$7.20Silver$16.69+$0.16XAU82.50+1.22%HUI178.97+1.19%GDM626.21+1.46%JSE Gold1129.86-1.40USD89.05-0.40Euro124.54+0.98Yen95.00-0.70Oil$65.55-$0.3310-Year2.846%+0.034T-Bond144.5625-0.15625Dow24202.60+2.84%Nasdaq7220.54+3.26%S&P2658.55+2.72% The Metals: Gold climbed $10.10 to $1355.80 in late morning New York trade before it edged back lower into th...Read More
CloseGain/LossGold $1352.90+$7.20Silver$16.69+$0.16XAU82.50+1.22%HUI178.97+1.19%GDM626.21+1.46%JSE Gold1129.86-1.40USD89.05-0.40Euro124.54+0.98Yen95.00-0.70Oil$65.55-$0.3310-Year2.846%+0.034T-Bond144.5625-0.15625Dow24202.60+2.84%Nasdaq7220.54+3.26%S&P2658.55+2.72% The Metals: Gold climbed $10.10 to $1355.80 in late morning New York trade before it edged back lower into th...Read More
Three weeks ago we called for stocks to revisit the February lows. At that time we were told we were "complete idiots" who were going to miss out on the next major Bull Run.Instead this happened:I don't know about you, but that sure looks like a revisit of the February lows to me.So where does this leave us now?Stocks are probably about to begin a massive bull run. Not because fundamentally things...Read More
The threat ofrising U.S. tariffs on imported goods has a number of positive implications forgold, says Mitsubishi. Gold benefited late last week on news that the Trumpadministration is planning trade sanctions against China, with potential for atrade war. “Firstly, higher tariffs will raise the cost of goods and thereforeadd to inflation, which would be positive for gold and precious metals...Read More
Shares in Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) received a fresh boost on Monday, after it said it had found "strongly mineralized" extensions at its 85%-owned Cascabel copper-gold project, 180 km north of the country's capital Quito.The discoveries, the Australian miner said, are predicted to significantly increase Cascabel's high-grade resource tonnage. The project, located on th...Read More
Today I revisit a subject that was prominent in the American conscious post-global economic crisis and brought to the forefront by the rare earth element and lithium bubbles from 2009 to 2011:The United States of America depends on imported supplies for most of its industrial metals, minerals, and materials demand.I spoke and wrote extensively about the US of A's dearth of domestic production and...Read More
2018-03-26 07:24 ET - News ReleaseSee News Release (C-DVT) Divestco IncMr. Stephen Popadynetz of Divestco reportsDIVESTCO AND BIRD RIVER RESOURCES ANNOUNCE COGENERATION JOINT VENTURE TO GENERATE LOW-COST ELECTRICITYDivestco Inc. and Bird River Resources Inc. have set up a cogeneration joint venture which will convert natural gas to electricity via a boiler-turbine at an industry low cost of 1.4 ce...Read More
FB shares are holding above a 50% retracement of their post-election surgeThe headlines surrounding Facebook, Inc. (NASDAQ:FB) have been nearly endless over the past week, and today's activity is no different. Following a weekend apology campaign that included full-page newspaper ads, the Federal Trade Commission (FTC) said it's investigating the company's privacy procedures and Germany's justice...Read More
For those that follow me regularly, you will know that I have been tracking a set up for the GLD as a proxy for gold. I believe that the GLD can outperform the general equity market once we confirm a long term break out has begun, and I still think we can see it in occur in 2018. This week, I will provide an update to the GLD. While I have gone on record as to why I do not think the GLD is a wise...Read More
COLORADO SPRINGS, CO, March 26, 2018 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of 1/6 of a cent per common share for March 2018 payable on April 23, 2018 to shareholders of record as of April 11, 2018. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexi...Read More