TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12March 26, 2018 "Facebook gives people an illusory sense of being LIKED." Mokokoma Mokhonoana "We have a responsibility to protect your data" Mark Zuckerberg Maybe it is slightly creepy that an ad for a product you visited keeps popping up on websites you visit. But then d...Read More
Turkish domestic auto bundle scrap prices remained largely steady over the past week, with most steel mills in the country keeping their buying prices unchanged, while ship scrap prices dipped slightly, sources said on Monday March 26.Metal Bulletin's weekly price assessment for domestic auto bundle (DKP grade) scrap in Turkey was unchanged at TRY1,300-1,520 ($327-382) per tonne delivered on...Read More
Canada-based Gungnir Resources (TSX-V: GUG) announced that authorities have approved a permit application to start drilling on its Knaften gold project, located in the Vasterbotten district of northern Sweden.According to the miner's website, Knaften covers Au in boulders and outcrop, as well as drill-indicated Au mineralization along a developing 10+ km long geochemical-magnetics trend in the Kna...Read More
Traders should watch the chart pattern taking shape for VXXThe following is a reprint of the market commentary from the April 2018 edition of The Option Advisor, published on March 23. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.We haven't quite put a full calendar quarter in the books yet for 2018, but it's...Read More
(Kitco News)- WASHINGTON (Reuters) - U.S. President Donald Trump on Monday ordered the expulsion of 60 Russians from the United States and closed the Russian consulate in Seattle over a nerve agent attack earlier this month in Britain, senior U.S. officials said.The order includes 12 Russian intelligence officers from Russia's mission to the United Nations headquarters in New York and reflects con...Read More
By PlungerI had intended to post part III of my interest rate series, however market conditions dictate that I post views on the current market. This market is now communicating that it is at high risk. For two months now, I have been advocating a strategic retreat. Head for the sidelines and watch the action with an unemotional detachment. The market is now sounding the alarm and one...Read More
On Friday, President Trump signed the omnibus spending bill for 2018. The $1.3 trillion bill was so monstrous that it would have made the biggest spender in the Obama Administration blush. The image of leading Congressional Democrats Pelosi and Schumer grinning and gloating over getting everything they wanted - and then some - will likely come back to haunt Republicans at the midterm elections. If...Read More
The seaborne iron ore concentrate market continued to fall on Monday March 26 in line with sharp dips in the fines market, with the trade tensions between the United States and China affecting general market confidence.The weekly Metal Bulletin 66% Fe Iron Ore Concentrate Index was $88.19 per tonne cfr China on March 23. This was down by $6.45 per tonne, or 6.8%, from a week earlier.The daily Meta...Read More
SHANGHAI, Mar 26 (SMM) – Nonferrous metals faced pressure from a potential trade war as SHFE nickel led the loss with a drop of over 3%. Copper fell after losing support at 50,000 yuan/mt and closed 2.5% lower. Aluminium, lead, and tin edged down, while zinc inched up.The ferrous complex remained weak. Coke slid over 3%, rebar lost nearly 3%, hot-rolled coil fell over 2% and iron ore di...Read More
DAKAR, March 26 (Reuters) - Democratic Republic of Congo's 2017 mining sector revenue rose 35.6 percent to $822.2 million while revenue from the oil and gas sector jumped by 103 percent to $203.9 million, finance ministry data showed.Mining revenue in the fourth quarter more than doubled helped by higher prices for key exports such as copper and cobalt, data in a quarterly report seen by Reuters o...Read More
The company is building an underground copper project in the Silver State after a recent refinancing and management shift with 50% owner Pala Investments getting in the driver's seat.Dake worked for Nevada Copper from 2011 to 2016, and is returning as general manager for surface construction after a stint at Guyana Goldfields (CN:GUY).Swisher comes from the East Boulder underground platinum group...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
Analysts aren't the only ones who are upbeat toward the Dow stockShares of Microsoft Corporation (NASDAQ:MSFT) are 4.6% higher to trade at $91.21, after the Dow stock received price-target hikes from Morgan Stanley to $130 from $110, and Evercore ISI to $110 from $108. While both stand in record-high territory, the former bull note represents expected upside of 49% to last Friday's close, with t...Read More
China has offered to purchase more semiconductors from the US to help cut China's trade surplus with the U.S., CNBC said on Monday.Continue...Read More
China's rebar prices continued to experience big decreases in both the domestic and export markets on Monday March 26 following a sharp drop in the price of billet over the weekend. Domestic Eastern China (Shanghai): 3,410-3,500 yuan ($540-554) per tonne, down 80-90 yuan per tonne Northern China (Beijing): 3,630-3,670 yuan per tonne, down 110-120 yuan per tonne Since late last Friday, the price of...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
Finish Line stock was heavily shorted coming into todayFinish Line Inc (NASDAQ:FINL) stock is surging today, up 29% at $13.62,after British sportswear retailer JD Sports agreed to buy the company for $558 million -- or $13.50 per share -- in an all-cash deal. The news has FINL stock on track for its best day since at least 2008. Prior to today's jump, Finish Line stock had desperately needed a sh...Read More
SHANGHAI, March 26 (SMM) -Read More
CENTENNIAL, Colo., March 26, 2018 - Westwater Resources, Inc. (Nasdaq: WWR) ("WWR" or "Westwater") is pleased to announce that, on March 23, 2018, the Supreme Court of the State of Texas issued a unanimous (8-0) decision favorable to Westwater in its long-running lawsuit between a Westwater subsidiary, URI, Inc., and Kleberg County, Texas. The lawsuit involved a post-mining restoration standard,...Read More
Gold has firmed above $1300 in recent days and is holding comfortably above $1300 for now. We think the market will break to the Continue...Read More