Comex copper prices recovered Tuesday March 27 morning in the US amid easing tensions between the US and China.Copper for May settlement on the Comex division of the New York Mercantile Exchange rebounded 1.25 cents or 0.4% to $2.9825 per lb. Yesterday, the contract collapsed to a September-2017 low."While we treat the current rebound in copper prices cautiously, we are comforted that the copper p...Read More
It's not a big deal; only around $350m, but the Oz Minerals bid for Avanco Resources is another sign that quality assets can command a premium in a copper market hungry for new supply.Glencore owns 8% which sets up the tantalizing, albeit slim, prospect of a counter offer from the world's number three copper producerOz Minerals' cash and shares offer on Tuesday was made at a 121% premium to the ru...Read More
It's no secret that the financial sector has expanded at a near geometric pace, along with the debt burden. While it's great for the big banks, it's come at the expense of society as a whole and individuals have taken it on the chin. Low cash levels and liquidity will bring down the household sector. Banks always want to sell more, regardless of the customer's best interest. They're never held to...Read More
Rudi Fronk and James Anthony, the cofounders of Seabridge Gold, comment on the factors they see as bullish for gold. It now appears that the gold complex has successfully tested support. Gold held above $1305, the low for the year set on March 5 and above the psychologically important level of $1300. GDX, the gold stock ETF, held above the December 2017 low of $21.25. No new lows support the pote...Read More
The developed world has lived with unnaturally-low interest rates for so long that it's become hard to imagine what life in a normal financial system would be like. But as rates finally start to rise, some of the necessary lifestyle adjustments are emerging. A big one is the fact that the days of refinancing one's house every few years to extract free cash or lower the monthly mortgage payment a...Read More
NEW YORK (Reuters) - When it comes to investing in the U.S. healthcare sector, it has paid off big to bet on smaller stocks.So far this year, the healthcare sector within the small-cap S&P 600 .SPSMCA has gained about 14 percent as investors point to a boost from an expected pick-up in deal-making. Those gains far outpace the 1.5 percent decline for the healthcare sector within the S&P 500...Read More
Source: Rudi Fronk and Jim Anthony for Streetwise Reports 03/27/2018Rudi Fronk and James Anthony, the cofounders of Seabridge Gold, comment on the relationship between gold and the dollar.GoldWe were anticipating a modest one or two week correction prior to the resumption of the short-term upward trend, but all we got was a two-day pullback. The gold-market correction that appeared to get unde...Read More
An explorer in Sonora, Mexico, receives land adjacent to its current property, and increases its land package six-fold. Aztec Minerals Inc. (AZT:TSX.V; AZZTF:OTCQB) was recently awarded two new mineral concessions of 3,149 hectares from a Mexican government land lottery. The land is adjacent to the company's Cervantes project in Sonora and expands its land package six-fold.The company noted that...Read More
Graceland Updates By Stewart Thomson 1. I've predicted that in 2018 the US stock market would suffer a series of crashes somewhat akin to the 1987 event, but smaller in size. 2. Please click here now. Double-click to enlarge this interesting chart of the US stock market. Clearly, these mini-crashes are starting to happen. 3. Having said that, I haven't sold any of my US...Read More
Stephanie NebehayGENEVA (Reuters) - Senior North and South Korean parliamentarians shook hands and shared a toast to “peace” with Swiss wine on Tuesday, a Reuters witness said, in a rare gesture of friendship suggesting relations between their two countries are thawing.South Korean MP and politician Young Chin shook hands with Ri Jong Hyok, director of North Korea’s National Reun...Read More
Wall Street is shocked, but it shouldn't be: Tariffs targeting China should have been a given, and now the market's tanking on trade war fears as if it just crept up on everyone, but Trump's been very clear on this.Wall Street is known for being short-sighted, though, and allowing itself to get caught up in the euphoria of the day. And now the world's biggest investors are losing hundreds of bil...Read More
Microsoft was the worst Dow stock today, offsetting a big day for GEThe Dow finished over 300 points lower, reversing course after trading up as much as 244 points. The blue-chip benchmark appeared poised to extend Monday's gains on a big day from General Electric (GE), but ultimately was burned in afternoon trading by a severe drop in tech stocks. The tech-rich Nasdaq fared even worse than the...Read More
Drilling contractor Layne Christensen (NASDAQ: LAYN) has rejected opposition to Granite Construction's US$376 million offer for the company, but won't fully address concerns outlined in a letter by Cetus Capital until "the second quarter of 2018".Staff reporter27 MARCH 201827/03/2018commentsshareGranite (NYSE: GVA) and Layne announced the former's bid on February 14 this year. Layne was trading ar...Read More
Dear Friend of GATA and Gold:In commentary posted today at GoldSeek, headlined "GATA Is at It Again" --http://news.goldseek.com/GoldSeek/1522155660.php-- financial letter writer Avi Gilburt accuses GATA of routinely taking quotes out of context, starting with the mention made of GATA by the deputy chairman of the Bank of Russia, Oleg Mozhaiskov, in his address to the London Bullion Market Associ...Read More
– Silver Futures Report, JP Morgan Record Silver Bullion Holding Is Extremely Bullish– JP Morgan Continues Adding To Massive Silver Bullion Holdings (see chart)– Silver Speculators Go Short – Which Is Extremely Bullish– Stunning Silver COT Report: One For the Ages (see chart) The silver futures Commitment of Traders (COT) report released last Friday was...Read More
CloseGain/LossGold $1344.30-$8.60Silver$16.51-$0.18XAU81.25-1.52%HUI176.28-1.50%GDM617.49-1.30%JSE Gold1118.05-11.81USD89.39+0.34Euro124.04-0.50Yen95.00UNCHOil$65.25-$0.3010-Year2.781%-0.065T-Bond145.75+1.03125Dow23857.71-1.43%Nasdaq7008.81-2.93%S&P2612.62-1.73% The Metals: Gold fell $13.70 to $1340.20 in midmorning New York trade before it bounced back higher into the cl...Read More
Natural gas concerns WMB and PXD could outperform, if history repeatsIt's hard to believe we're already closing in on Easter (likely because it still feels very much like winter here in Cincinnati), yet here we are. Looking ahead to April and the second quarter, we've outlined 50 stocks that could be flashing seasonal "buy" signals right now, if past is prologue. On the lists, a couple of energy s...Read More
David ShepardsonNEW YORK (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg plans to testify before U.S. Congress, a source briefed on the matter said on Tuesday, as he bows to pressure from lawmakers insisting he explain how 50 million users’ data ended up in the hands of a political consultancy.Lawmakers in the United States and Europe are demanding to know more about the company&rsq...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia decreased, while demand was moderate, sources told Metal Bulletin on Tuesday March 27. Most buyers want to wait and see if price decreases continue. UAE Hot-rolled coil (HRC) was being offered to the UAE at $610-620 per tonne cfr from China, down from $635-640 per tonne cfr last week. India offered HRC at 640 per tonne cfr to...Read More
By Graham Summers As I noted yesterday, stocks still have some life in them. Calling the precise top of a bubble is all but impossible. This is particularly true when you have a White House administration that openly admits it views stocks as a "report card." Rarely does the one being graded have the ability to manipulate the results of his or her "report card." In this case, the White House d...Read More