LONDON (Reuters) - Oil prices edged up on Tuesday, after having posted their biggest one-day fall in almost a year the previous day, although higher Russian output and Saudi Arabia possibly cutting its selling prices acted as a drag.The mood across financial markets was cautious after China announced last week it would slap extra tariffs on 128 U.S. products, deepening a dispute between the world&...Read More
Both stocks have brought their 200-day trendlines into playBio-Path Holdings Inc (NASDAQ:BPTH) has shot 50.1% higher this morning to trade at $2.67 -- on track for its biggest one-day percentage gain since September 2013 -- after the company reported upbeat mid-stage trial data for its cancer drug, prexigebersen, when used in combination with low-dose chemotherapy. The therapy is being studied to...Read More
Ian Khama, a former army general who’s led Botswana for the past decade, will step down on Sunday, leaving his deputy Mokgweetsi Masisi in charge of the world’s second-biggest diamond producer until next year’s elections.While Masisi, 55, will inherit one of Africa’s wealthiest and best-governed nations, he’ll still have his hands full reducing the economy’s dep...Read More
SHANGHAI, Apr 3 (SMM) –Copper: After it was closed for two days, LME copper climbed up after it opened today. SHFE copper mostly traded above the 10-day moving average, with support at the five- and 10-day moving averages overnight. We see it trading at 50,100-50,600 yuan/mt with spot premiums at 0-50 yuan/mt today.Aluminium: As LME aluminium opened higher, we expect it to rise and test...Read More
Gold rose on safe haven demand on the back of the stock market sell off. Chinese retaliation on American goods will ensure that gold continues to remain firm. Gold will rise as long as uncertainty over the bullish trend in the global stock market is there. Physical demand in Asia will rise as laggards buy gold. I also see more and more new investors starting to invest in gold. Silver will catch...Read More
(Recasts after European open, updates levels throughout)* Main European bourses open 0.5-0.7 percent lower* Asian shares end off early lows, E-Minis rise* Dollar steadies after falling for three straight days* Oil steadies after 3.7 percent slumpBy Marc JonesLONDON, April 3 (Reuters) - World markets battled to regain their poise on Tuesday after another round of tech and trade war worries had clob...Read More
Chinese ferro-silicon prices continued their downward trend over the past week, pressured by ample stocks and a negative outlook for the market due to weakness in the country's steel sector. Metal Bulletin assessed the Chinese domestic spot ferro-silicon (basis 75% silicon) price at 6,100-6,500 yuan ($971-1,035) per tonne on Friday March 30, compared with 6,500-7,000 yuan per tonne a week earlier....Read More
BofA is calling for a 32% jump for NVDA in the next yearGPU expert Nvidia Corporation (NASDAQ:NVDA) has pulled back 10.7% since its March 13 record high of $254.50 due tonews the company is halting its self-driving car program, as well as a broader drop in tech shares. BofA-Merrill Lynch is viewing this all as a buying opportunity, however. The brokerage firm this morning replaced Facebook (FB) on...Read More
MOSCOW (Reuters) - Sberbank CIB, an arm of Russia’s largest lender, plans to more than double its gold sales to India this year and sell more gold than forecast to China, while keeping gold purchases in Russia flat, its head of global markets said.Purchases for sales to countries such as China and India go through the bank’s Swiss branch, while most of Sberbank CIB’s gold purchas...Read More
RAPAPORT... Sotheby's Magnificent Jewels spring sale in New York willfeature a 33.25-carat, D-flawless diamond pendant necklace with a high estimateof $5 million, the auction house said last week. The event - one of three New York sales Sotheby's will hold thismonth - will also include an array of colored-diamond jewelry. A 7.01-carat,fancy intense pink, SI2-clarity diamond ring is expected to go...Read More
(Kitco News) - Gold could jump above $1,400 an ounce this year, with investors attracted to the safe-haven metal amid escalating fears of a global trade war, said CEO of Sprott U.S. Holdings Rick Rule.The yellow metal prices are often guided by the direction of the U.S. dollar and any loss of confidence in the American currency could result in a rush of gold buying, Rule told Bloomberg last week.&...Read More
It said in a statement that the operation had been suspended since the leak detection on March 29 so that it could carry out a full inspection of the 500km pipeline that carries iron ore in slurry form from the mine to the export terminal in Rio de Janeiro. Read More
FAANG stocks and TSLA shares are rebounding, tooIt's set to be another volatile day of trading on Wall Street, with futures on the Dow Jones Industrial Average (DJI) signaling a triple-digit start. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also in the green, with the former looking to reclaim a key technical level. While the tech sector will remain in focus -- and with FAAN...Read More
BEIJING (Reuters) - China will take counter-measures of the “same proportion” and scale if the United States imposes further tariffs on Chinese goods, China’s ambassador to Washington said, amid growing fears of an impending trade war.Cui Tiankai made the comments ahead of what is expected to be the announcement this week of U.S. tariffs on $50 billion to $60 billion in Chinese i...Read More
Market participants witnessed or were part of a 180° reversal of market sentiment this morning with equities moving substantially higher, and safe-haven assets such as gold trading lower.Fundamentally not that much has transpired since yesterday’s dramatic selloff in U.S. equities and upside spike in gold prices. However, today it seems investor psychology is either not focusing on the p...Read More
First gold was poured on time and on budget after a A$200 million, 11-month construction phase.The milestone comes five-and-a-half years since Dacian listed on the ASX."The attributes which have enabled us to arrive at this very significant occasion are the same attributes that will drive our ramp-up and ongoing growth strategy," Dacian executive chairman Rohan Williams said. "We started work...Read More
April 3 (Reuters) - The Perth Mint's sales of gold productsrose about 13 percent in March from a month earlier, whilemonth-on-month silver sales fell for second month in a row, themint said in a blog post on its website on Tuesday.Sales of gold coins and minted bars rose to 29,883 ounces inMarch from 26,473 ounces in February, the mint said. Gold sales climbed about 34 percent in March compared wi...Read More
SHANGHAI, Apr 3 (SMM) – Nonferrous metals saw mixed trading today. SHFE zinc fell 1.2%, lead slid over 1%, nickel dipped, while aluminium gained 1.6%. Copper and tin inched up.Most ferrous metals fell. Iron ore lost 1.6%, coking coal and hot-rolled coil edged down slightly, while rebar and coke closed a bit higher.Copper: The SHFE 1805 contract traded rangebound around moving avera...Read More
Zinc futures were trading lower during the afternoon trade in the domestic market on Tuesday as speculators trimmed positions amid easing demand in the spot market. Analysts said offloading of positions by participants on the back of tepid demand in the spot markets, mainly led to decline in zinc prices at futures trade.At the MCX, zinc futures for April 2018 contract was trading at Rs 213.80 per...Read More
SHANGHAI, Apr 3 (SMM) – Nonferrous metals saw mixed trading today. SHFE zinc fell 1.2%, lead slid over 1%, nickel dipped, while aluminium gained 1.6%. Copper and tin inched up.Most ferrous metals fell. Iron ore lost 1.6%, coking coal and hot-rolled coil edged down slightly, while rebar and coke closed a bit higher.Copper: The SHFE 1805 contract traded rangebound around moving avera...Read More