(Reuters) - The New York Federal Reserve will launch a benchmark U.S. rate on Tuesday to potentially replace Libor, and market participants hope it will prove more reliable after a long and complex switchover.The New York Fed will begin publishing the Secured Overnight Financing Rate (SOFR), the first step in a multi-year plan to transition more derivatives away from the London interbank offered r...Read More
ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras urged his ministers on Tuesday to intensify reform efforts as the country heads towards the anticipated conclusion of a three-year bailout program in August.“There is no time for complacency, but we must intensify efforts to finish the marathon,” he told a meeting of his cabinet.Athens is eager to emerge from years of bailouts prov...Read More
Base metals prices diverged on the London Metal Exchange at the close of trading on Tuesday April 3, with copper rising but aluminium dropping below $2,000 per tonne for the first time since August 2017.The complex started the day on a firm note before paring gains and moving back into the red near the close."The Chinese manufacturing numbers held up quite well, which was supportive, and the metal...Read More
Comex copper prices sustained momentum in the US morning on Tuesday April 3 with the fundamental outlook optimistic for the remainder of the year. Copper for May settlement on the Comex division of the New York Mercantile Exchange ticked up 0.10 cents or 0.1% to $3.0510 per lb. "While it is too early to assert that the rebound in copper will last, we think the bull market in copper will prevail th...Read More
Kin Mining NL (ASX: KIN) is an emerging gold development company with a significant tenement portfolio in Western Australia's North-Eastern Goldfields. Kin's Board and management team expect to grow shareholder value in the near and mid-term with the development of the Leonora Gold Project (LGP) and continued exploration success.The LGP is near the heart of the Leonora/Laverton belt, a highly pros...Read More
Seaborne iron ore prices weakened slightly on Tuesday April 3 amid a subdued futures market, though buying interest appears to have increased. Metal Bulletin 62% Fe Iron Ore Index: $63.76 per tonne cfr Qingdao, down by $2.04 per tonne Metal Bulletin 58% Fe Premium Index: $52.09 per tonne cfr Qingdao, down by $0.40 per tonne Metal Bulletin 65% Fe Iron Ore Index: $81.50 per tonne cfr Qingd...Read More
Kin Mining NL (ASX: KIN) is pleased to provide an update on the Leonora Gold Project and corporate activities. Construction at the Leonora Gold Project (LGP) is well underway, with foundations for the CIL tanks and milling structures commenced. Foundations for the workshop are already complete with the workshop currently being erected.Highlights:• Construction has commenced with tank construc...Read More
Silver is acting weaker than it should at the start of an expected long-term precious metals advance.Short-term traders should beware that silver may not present multi-dollar trading opportunities until it decisively breaks its primary declining trend at $17.45.Silver is showing negative price action which reveals lower targets.By Christopher Aaron For the week ending 3/30, silver finished lower b...Read More
Reduction of demand from China's central bank demand and tariffs by the Indian government will continue to put a lid on demand for gold.Rising budget deficit narrative has broken down with regards to gold prices in the last 5 years.Potential rising real interest rates are not a good sign for gold.Charts do point to a potential breakout.The x factor here is the probability of a major catalyst r...Read More
An increasingly panic-prone market is supporting gold.Gold's relative strength factor has been increasing.Most importantly, its fear component is bolstering the price.Gold got a much-needed boost from the latest spike in bearish sentiment among equity investors. As the stock market plunged on Monday, the price of gold was one of the assets to actually benefit from the increase in fear. In toda...Read More
Gold bears are trying to keep the market below the $1,330 mark. Investors are disregarding the protectionist threats and the US Dollar gains value. Gold is trading at around 1,329.31.70 down 0.89% on Tuesday as investors momentarily shrug off the risk-off sentiment ignited on Monday with renewed fears of trade wars between the US and China. Earlier this week, China retaliated to...Read More
Blockchain's transparency, tamper-proof record and decentralized nature make the cryptocurrency vehicle more secure than any repository under the control of one entity. Blockchain can be used to secure everything from financial transactions to voting and medical records. Eric C. Jansen, founder of AspenCross Wealth ManagementPublished 13 Hours AgoUpdated8 Hours AgoCNBC.com Blockchain, the vehicle...Read More
OZ Minerals (ASX:OZL) said Tuesday it had received approval from the South Australian government to go ahead with the next phase of development its A$916 million (roughly $704m) Carrapateena copper-gold project.The Mining Lease and Environmental Protection and Biodiversity Conservation Act (EPBC) allows Oz Minerals to start this month phase two of construction at the project, one of the largest...Read More
Gold futures finished lower on Tuesday, as equities attempted to bounce back from the previous session's rout and worries over global trade tensions appeared to take a breather. Although European stocks ended lower, U.S. shares traded higher as stocks attempted to recover at least part of Monday's technology-driven bloodletting, while a leading dollar index'sDXY, -0.05% slight 0.1% gain produced a...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 Tuesday was a horrid 44-108-138. The TSX Venture Exchange fell 14 points to 769 while polished diamond prices were flat. Guy Bourassa's Nemaska Lithium Inc. (NMX) dropped 13 cents to $1.12 on 4.8...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 $8.60 to $1,332.00 on Tuesday. The TSX Venture Exchange dropped 14.33 points to 769.30 while the TSX Gold Index fell 4.34 points to 185.20. Most Canadian gold miners lost ground today. Premier Gold Mines Ltd. (P...Read More
Dollar confidence 'most important determinant' of gold priceAggregate U.S. debt seen contributing to worries over dollarGold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, chief executive officer of Sprott U.S. Holdings Inc., who’s been involved in the market for four decades.Bullion could top $1,400 an ounce in 2018 as escalating tra...Read More
Turkish domestic scrap prices have fallen over the past week amid weakening imported scrap prices, sources said on Tuesday April 3.Metal Bulletin's weekly price assessment for domestic auto bundle (DKP grade) scrap in Turkey was TRY1,270-1,500 ($320-378) per tonne delivered, down from last week's TRY1,300-1,520 per tonne.A number of steel mills and a major scrapyard have reduced their buy prices f...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 gained 50 cents to $63.51 on the New York Merc, while Brent for June gained 48 cents to $68.12 (all figures in this para U.S.). There is no open interest on Western Canadian Select future...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 lost 14.33 points to 769.30 Tuesday. Jonathan Younie's Baetis Ventures Ltd. (BATS) plans to acquire RE Royalties Ltd. as its qualifying transaction. RE was founded by Bernard Tan and Marchand Snyman, both of Hu...Read More