The better-than-expected US GDP supported the US Dollar and added the selling pressure on commodities including gold. Gold bears are in control and the next downside target is seen at 1326. Gold is trading at around 1,334.8 down 0.8% on Wednesday after the US GDP growth rate was revised upwards promoting the value of the US Dollar that traditionally trades inversally to comm...Read More
Despite gold trading very close to its cyclical top, the gold and silver markets are driven by smaller or bigger pessimism now.Very often such conditions result in a major price breakout.My thesis is additionally supported by US treasuries.US dollar may be a challenge to my theory but, as I discuss it below, this threat is deferred.I am pretty sure that the highly volatile US stock market makes ma...Read More
Prices for domestic steel hollow steel sections in Southern Europe have fallen by ?,?5-15 per tonne because mills are suffering from low demand, market sources said on Wednesday March 28."We are seeing a small number of offers at the moment, because of the uncertainty in the market. It may be that some suppliers have become nervous, seeing their order intake down in March," one Southern European p...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold fell $20.10 to $1,324.40 on Wednesday. The TSX Venture Exchange fell 18.61 points to 784.22 while the TSX Gold Index fell 3.55 points to 184.04. Most Canadian gold miners lost ground today, some taking a big hit. Pre...Read More
There has been a lot of talk lately about the bullish internals of COMEX silver, and rightfully so! The size of the Speculator net short position is the largest in two decades, and this is a decidedly bullish indicator.Since all of this data comes from the weekly, CFTC-generated Commitment of Traders reports, we thought it would be fun to take a look back today and compare/contrast the current ope...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Wednesday was a bleak 53-108-129. The TSX Venture Exchange fell 18 points to 784 while polished diamond prices inched higher. Dr. Stewart Blusson's Archon Minerals Ltd. (ACS) jumped 28 cents to $...Read More
The latest news and price moves to start the Asian day on Thursday March 29.Base metals prices on the London Metal Exchange generally ended higher at the close of trading on Wednesday March 28, with only aluminium and zinc trading lower. Read more in our live futures.Here are how LME prices looked at Wednesday's close:Indonesia's Gresik copper smelter in eastern Java will shut down for up to 10 da...Read More
Investing.com - Gold prices slipped on Wednesday as the dollar pushed higher amid renewed concerns over the prospect of a trade war between the U.S. and China and after steep falls on Wall Street and in Asia led by a selloff in tech stocks.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange slid $1.7 or 0.13% to $1,340.30 a troy ounce by 05:13 AM ET (09:13 GMT...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for May delivery lost 87 cents to $64.38 on the New York Merc, while Brent for May lost 58 cents to $69.53 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.40 to WTI ($...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterThe TSX Venture Exchange dropped 18.61 points to 784.22 Wednesday.Zula Kropivnitski's halted Spirit Bear Capital Corp. (SBG: $0.29) has firmed up plans to acquire FinX Solutions Inc. as its qualifying transaction. Spirit Bear, with 9.4...Read More
Tuesday's price action engulfed Monday's high-low (bearish outside day candle). Gold's decline could be short-lived as markets have a hard time trusting Fed's hawkish dot plot. Gold (XAU/USD) created a bearish outside day candle on Tuesday, signaling the rally from the March 20 low of $1,307 may have run out of steam. The metal dropped to $1,330 yesterday as the...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellThe Investment Industry Regulatory Organization of Canada has imposed a six-month ban and $55,000 in financial penalties on Steven Fred Bodon, a brokerage employee of 31 years. The regulator said that Mr. Bodon inflicted substantial losses in the acco...Read More
Union leaders at Codelco Norte, a division of Chilean copper producer Codelco, are urging supervisors to vote for industrial action following the company's latest contract offer.The wage offer eliminates some of the benefits that the supervisors currently have and does not contain certain improvements that were verbally promised by the management, according to the union."It is important that all t...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellBrian Robert Sodi, the Florida stock tout also known as the "Mailman," has pleaded not guilty to charges he faces for a $1.1-million OTC Markets scheme. (All figures are in U.S. dollars.) Mr. Sodi, 46, entered the plea in an appearance on Monday, Marc...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for May delivery fell 30 cents to $65.25 on the New York Merc, while Brent for May lost one cent to $70.11 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.40 to WTI ($...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday March 28:Aluminium scrap Group 1 pure 99% & litho: ?1,380-1,430 per tonne from ?1,400-1,450 per tonneCommercial pure cuttings: ?1,150-1,200 per tonne from ?1,160-1,210 per...Read More
Comex copper prices once again saw selling pressure during midweek trading on Wednesday March 28 with a stronger dollar weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 1.10 cents or 0.4% to $2.9905 per lb. The contract has been volatile over the past few weeks, with prices recently hitting a six-month low....Read More
Zinc premiums in Shanghai dropped slightly on softening spot demand while stocks held in Shanghai Futures Exchange-listed warehouses continued to build, whereas lead premiums retreated in Indian and Southeast Asian markets and rose in Europe. Shanghai zinc premiums declined amid weak spot demand US zinc premiums were flat over the past week, while warehousing stocks declined. Lead pre...Read More
Domestic prices for cold-rolled coil (CRC) in Europe have been stable over the past week despite a decline in import offers, sources told Metal Bulletin this week.Market activity has been slow because buyers still have sufficient stocks of material that they booked earlier and at lower prices. Additionally, the market was in "wait-and-see" mode after the European Commission (EC) started a safeguar...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export, billet, offered at $525 per tonne fob...Read More