European mills are expected to use the region's newly launched safeguard case into steel import to increase their prices for hot-rolled coil (HRC), market sources told Metal Bulletin on Wednesday March 28.The European Commission (EC) launched the safeguard investigation into 26 steel product types on March 26 in an attempt to prevent the redirection of steel in the global export markets from the U...Read More
A number of manufacturing reports are also dueJobs data will be on Wall Street's radar next week, with ADP private payrolls due out on Wednesday, and the Labor Department's March jobs update slated for release on Friday. A handful of Fed speakers could also spark some volatile trading, while a relatively light earnings calendar features high-profile homebuilder Lennar Corporation (NYSE:LEN) and ta...Read More
A new phrase has been added to our lexicon of late, and that is what has become known as "fake news." This new phraseology can be aptly applied to that which is presented by our old friends at the GATA (Gold Anti-Trust Action) committee.GATA has been trying to convince all those who are willing to listen that it is not its fault that the metals market dropped from 2011 to 2015 (where silver lost 7...Read More
By Bron SucheckiIn commodity markets backwardation is an indicator of physical shortages. Shortages result in buyers bidding up the cash price of the commodity above the future prices. This creates a profitable trade (called decarry) for those holding the physical commodity - they can sell it now and buy a futures contract at a lower price, locking in a profit.Backwardation should therefore be a...Read More
Former Export Development Canada senior manager Amelie St-Onge has joined leading privately-owned international mining software company Micromine as its Canada regional manager, based in Vancouver.Staff reporter29 MARCH 201829/03/2018commentsshareSt-Onge, who has a Queen's University MBA, spent the past nine years with Export Development Canada, most recently leading development of EDC's relations...Read More
CloseGain/LossGold $1325.70-$18.60Silver$16.29-$0.22XAU79.64-1.97%HUI172.78-1.99%GDM605.54-2.00%JSE Gold1131.25+13.20USD90.13+0.74Euro123.06-0.98Yen93.56-1.44Oil$64.38-$0.8710-Year2.773%-0.008T-Bond145.8125+0.1875Dow23848.42-0.04%Nasdaq6949.23-0.85%S&P2605.00-0.29% The Metals: Gold saw slight gains in early Asian trade, but it then fell back off for most of the rest of th...Read More
Sentiment is a strange thing.Investors are human beings. And human beings are irrational, particularly when it comes to money related issues. The notion that the market, as a collection of irrational people, is somehow rational is ludicrous. With that in mind, sentiment can be a powerful tool for timing market turns. If sentiment changes, but price doesn't confirm the shift, then you know you're n...Read More
CloseGain/LossGold $1325.70-$18.60Silver$16.29-$0.22XAU79.64-1.97%HUI172.78-1.99%GDM605.54-2.00%JSE Gold1131.25+13.20USD90.13+0.74Euro123.06-0.98Yen93.56-1.44Oil$64.38-$0.8710-Year2.773%-0.008T-Bond145.8125+0.1875Dow23848.42-0.04%Nasdaq6949.23-0.85%S&P2605.00-0.29% The Metals: Gold saw slight gains in early Asian trade, but it then fell back off for most of the rest of th...Read More
"I know of two investor groups that are buying physical gold because they know there is going to be a physical price reset."Andrew Maguire is an Independent London Metals Trader and Analyst, internationally renowned for his unique ability to read the precious metals market with the knowledge and experience gained over 35 years trading in financial and commodity markets. Andrew sits on the advisory...Read More
Adapted from white paper by SAPAccording to Harvard Business Review (HBR 2017), billions of dollars are being invested in blockchain technology, and some of the smartest people on the planet are engaged in understanding how this technology can reinvent organizations and industries. A report from PriceWaterhouse Coopers (PwC 2017) has named blockchain as a 'tech breakthrough megatrend' for CIOs, wh...Read More
Retail stocks are gaining with Amazon trading in the redThe Dow has explored both sides of breakeven today, but was last seen in positive territory. Three names making notable moves today are telecom giant Verizon Communications Inc. (NYSE:VZ), drug stock Shire PLC (NASDAQ:SHPG), and retailer Macy's Inc (NYSE:M). Here's what's moving shares of VZ, SHPG, and M. VZ Stock Gets Rare Bull NoteVerizon s...Read More
In early March, RT.com, the Russian based media network, asked me for comments and opinion on the subject of central bank manipulation of gold prices.The comments and opinion that I supplied to RT became the article that RT then exclusively published on its website on 18 March under the title "Central banks manipulating & suppressing gold prices - industry expert to RT". This article is now transc...Read More
Domestic prices for heavy steel plate in Europe have been under pressure because of slow trading activity, sources told Metal Bulletin this week.Metal Bulletin's assessment of prices for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?570-580 ($708-720) per tonne ex-works for the week ended Wednesday March 28, compared with ?,?580-590 per tonne ex-works a week earlier."Prices are...Read More
"Some things never change. Some things do." You might be wondering why we are quoting one of the lines from the Matrix movie. The reason is because that's exactly what we can say about the gold market and the price patterns in it. The thing that never changes is the fact that gold will always somehow react to the fundamental news, but the way it reacts will vary over time. Moreover, this quote c...Read More
By Nicholas LePan, GoldSeek.com Goldsource Mines Inc. (TSX-V: GXS) plans on developing from operating a small pilot gold mine to a junior gold producer in the coming few years with a potential production estimate of 50,000-70,000 ounces per year at its 100-per-cent owned Eagle Mountain Gold Project in Guyana. In the second part of 2018, if the company receives successful economic Pre-Feasibil...Read More
NEW YORK (Reuters) - Oil prices fell about 2 percent on Wednesday after data from the Energy Information Administration showed a surprise build in U.S. crude stockpiles.June Brent crude futures LCOc2 were down $1.27 to $68.19 barrel by 11:50 a.m. EDT (1550 GMT), while the May contract LCOc1, which expires on Thursday, fell $1.11, or 1.6 percent, to $69.00 a barrel.West Texas Intermediate (WTI) cru...Read More
Sentiment is a strange thing.Investors are human beings. And human beings are irrational, particularly when it comes to money related issues. The notion that the market, as a collection of irrational people, is somehow rational is ludicrous. With that in mind, sentiment can be a powerful tool for timing market turns. If sentiment changes, but price doesn't confirm the shift, then you know you're n...Read More
Amazon has decided to offer a new service that seems innocent on the surface. The retailer has begun photographing packagesContinue...Read More
Mining contractor Watpac (ASX: WTP) is considering an exit from mining as failure to secure new work hampers its expected full-year results.Staff reporterWatpac weighs mining exit29 MARCH 201829/03/2018commentsshare The company said this week that due to the disappointing performance of its mining business and the impact of legacy residential projects, it expected to post a full-year underlying ne...Read More
In commodity markets backwardation is an indicator of physical shortages. Shortages result in buyers bidding up the cash price of the commodity above the future prices. This creates a profitable trade (called decarry) for those holding the physical commodity - they can sell it now and buy a futures contract at a lower price, locking in a profit.Backwardation should therefore be associated with ris...Read More