Kirkland Lake Gold Ltd. (TSX, NYSE: KL;ASX: KLA) reports gold production for the first quarter came to 147,644 ounces,an increase of 13% from the same period a year ago. Output exceeded targetlevels, driven by record monthly production in March of 71,615 ounces, whichlargely reflected positive grade performance at both Fosterville and Macassa,Kirkland says. The company says it expects production t...Read More
The safeguard investigation by the European Commission (EC) into steel product imports is likely to result in quotas being applied instead of tariffs, according to the International Rebar Producers & Exporters Association (Irepas)."The likelihood of ending up with more safeguard measures, as happened in 2002, is very high," Irepas said late last week. "The EU will probably apply quotas instead of...Read More
Recent news about the US and China posturing for Trade Deals and the continued increase in rhetoric has weighed heavily on the markets these past few weeks. Yes, trade issues are a concern for nations and fair trade is essential to support both economies. Yet, the news seems to be exaggerated in scale and scope when one considers the totality of it all. Our research team at Technical Traders...Read More
OLED stock is testing round-number supportiPhone supplier Universal Display Corporation (NASDAQ;OLED) has had a disastrous start to 2018, due to the broader stock market correction and an earnings miss in February, not to mentionreports last month that Apple Inc. (NASDAQ:AAPL) is developing its own LED screens. Despite OLED stock's struggles, there is some indication that the chip stock may hav...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12April 9, 2018"Too many people spend money they earned...to buy things they don't want...to impress people that they don't like." Will Rogers "Everybody needs money. That's why they call it money." Danny DeVito (as Mickey Bergman - Heist (2001); writer, David Mamet) With all o...Read More
By James Marson and Scott Patterson MOSCOW -- Russian markets convulsed in the wake of new U.S. sanctions, as the ruble tumbled and domestic and foreign investors dumped Russian stocks. Shares in United Co. Rusal, the giant Russian aluminum maker, lost more than half their value on Monday, after the U.S. hit the company and its main owner, Oleg Deripaska, with sanctions on Friday. The damage spr...Read More
(Kitco News) - Gold bulls are once again disappointed with the yellow metal’s lack of stride in breaching its key resistance of $1,355 an ounce, Saxo Bank said, adding that the precious metal is being restrained by white metals’ poor performance.“Gold's recent performance has once again been disappointing the bulls who have been backing the yellow metal through increased long pos...Read More
The F.B.I. raided office of President Trump's longtime personal lawyer, Michael D. Cohen, on Monday seizing records related to several topicsContinue...Read More
The Turkish steel mills went quiet again in the deep-sea scrap markets at the beginning of this week, but they are still expected to book more scrap for May, sources said on Monday April 9.After booking a number of deep-sea cargoes in the past week, the mills stepped back from the market on April 6.But market participants expected more cargoes to change hands over the rest of the week, Metal Bulle...Read More
Those worried that the positive momentum in the mining and metals sector is beginning to wane after two years of strong gains may find encouragement from a new survey by private capital tracker Preqin.Fundraising by unlisted funds for investment in mining and metals was a non-starter last year. A single private capital fund closed last year after rustling up all of $24 million.A further 13 funds...Read More
The Trump administration has made it a point to cool trade war fearsThe Dow Jones Industrial Average (DJI) is grinding higher today, as fears of a trade war recede once again. The blue-chip index was last seen up over 300 points, bouncing back from Friday's huge sell-off and marking another big market swing. Healthcare and tech are leading the way, with the former sector buoyed by big pharma M&A a...Read More
President Donald Trump said Monday to expect a major decision on Syria in "the next 24 to 48 hours."Continue...Read More
By James Marson and Scott Patterson MOSCOW -- Shares in United Co. Rusal, one of the world's largest aluminum producers, lost half their value Monday, as the effect of U.S. sanctions on Russian companies and the tycoons that own them rippled across markets around the world. Investors sold off Rusal shares in Hong Kong amid uncertainty over how the sanctions may affect the company's ability to tr...Read More
(Kitco News) - Safe-havengold and silver prices are slightly lower in early U.S. trading Monday. Higherworld stock markets overnight are a negative for the competing asset class ofprecious metals. However, a slightly weaker U.S. dollar index today is workingin favor of the metals bulls. June Comex gold futures were last down $0.60 anounce at $1,335.40. May Comex silver was last down $0.007 at $16....Read More
By Keith WeinerDo you want to lend your hard-earned money to the US government? In exchange for the high, high interest rate of 2.8%? It's a most generous deal, even though the Federal Reserve is committed to dollar devaluation at the rate of 2% per annum. So you are getting 0.8% per year, assuming that the Fed hits its goal. In exchange for lending to a profligate and counterfeit borrower the g...Read More
Turkish domestic ship scrap prices have fallen slightly with the Turkish lira weakening against the US dollar, while auto bundle scrap prices remained flat, sources said on Monday April 9.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market fell to $341-350 per tonne delivered, down from last week's $343-353 per tonne.The downward movement in...Read More
SHANGHAI, Apr 9 (SMM) – Nonferrous metals saw mixed trading on Monday April 9. SHFE aluminium rebounded and closed nearly 1.4% higher. Copper inched up, while zinc fell over 1% and nickel dipped almost 1%. Lead and tin were slightly down.In the ferrous market, hot-rolled coil gained nearly 2% and rebar grew over 1%. Coke, coking coal, and iron ore edged down.Copper: The SHFE 1805 copper cont...Read More
The addition of 5.2 million tonnes grading 4.9% zinc and 1.3% copper from the southern extension of Prieska called Vardocube takes total resources to 29.4Mt averaging 3.8% zinc and 1.2% copper.Read More