Prior to the FOMC meeting last week, I forecast that the Fed would be dovish on both interest rates and the balance sheet reduction program.But this would mean that all of the dovish "speak" since their verbal 180 in January that contributed to the rally in stocks is now priced in.I believe that is now the case and there is little more the Fed can say that will push stocks higher.By Davi...Read More
More than three years after two treasure hunters claimed to have found a Nazi train laden with gold and gems in the Polish city of Walbrzych, one of the men looking for it has unearthed another kind of treasure: two dozen priceless Renaissance portraits.Piotr Koper, who spent years hunting for the elusive train rumoured to be laden with gold and gems, has found two dozen priceless Renaissance p...Read More
More than three years after two treasure hunters claimed to have found a Nazi train laden with gold and gems in the Polish city of Walbrzych, one of the men looking for it has unearthed another kind of treasure: two dozen priceless Renaissance portraits.Piotr Koper, who spent years hunting for the elusive train rumoured to be laden with gold and gems, has found two dozen priceless Renaissance p...Read More
More than three years after two treasure hunters claimed to have found a Nazi train laden with gold and gems in the Polish city of Walbrzych, one of the men looking for it has unearthed another kind of treasure: two dozen priceless Renaissance portraits.Piotr Koper, who spent years hunting for the elusive train rumoured to be laden with gold and gems, has found two dozen priceless Renaissance p...Read More
Shares in Petra Diamonds (LON:PDL) jumped more than 8% on Friday after the miner announced it had dug up a 425.1 carat, D-colour, Type II gem quality diamond at its iconic Cullinan mine in South Africa.The discovery comes less than a month after Petra found a 100.83 carat gem-quality white diamond at the same mine, source of the world's biggest-ever diamond, which was unearthed in 1905.Earlier in...Read More
Shares in Petra Diamonds (LON:PDL) jumped more than 8% on Friday after the miner announced it had dug up a 425.1 carat, D-colour, Type II gem quality diamond at its iconic Cullinan mine in South Africa.The discovery comes less than a month after Petra found a 100.83 carat gem-quality white diamond at the same mine, source of the world's biggest-ever diamond, which was unearthed in 1905.Earlier in...Read More
"Another royalty added today on silver from the @AscendantResEl Mochitomine. Looks like a win/win deal hopefully for both companies.https://t.co/kHm8p1w1Jq"Read full newsRead More
"Another royalty added today on silver from the @AscendantResEl Mochitomine. Looks like a win/win deal hopefully for both companies.https://t.co/kHm8p1w1Jq"Read full newsRead More
Federal mine safety officials have cited an Idaho-based company for inadequate safety controls at a gold mine it operates in northeast Nevada where a worker was killed in an underground collapse in October.Read full newsRead More
Now Sibanye will wind down Driefontein's operations within 10 years, with plans to cut thousands of jobs as it shuts unprofitable shafts.South Africa's gold industry employs just over 100,000 people, less than a fifth of the number that used to drive the apartheid economy.With most of the nation'Read full newsRead More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended up Thursday as investors responded positively to progress in the U.S.-China trade talks. Lululemon Athletic (LULU) soared 14% after the sports apparel group posted solid fourth-quarter earnings. Five Below (FIVE) climbed 8.2% after posting stronger-than-expected fourth-quarter earnings.Wall S...Read More
Base metals prices on the London Metal Exchange were broadly range-bound at the close of trading on Thursday March 28, with continued strength in the dollar deterring commodity investment while weaker-than-expected gross domestic product (GDP) figures from the United States continued to indicate economic contraction.Nickel's three-month price was the biggest downward mover of the day, closing once...Read More
Prices in the US copper market continued to push upward on Thursday March 28, with macroeconomic data outweighing recent growth in market participants' bearish speculative positioning.The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched up by 1.15 cents to $2.8745 per lb on Thursday.On the technical side, the net speculative length has declined marke...Read More
Robin Scheiner will lead a merged aluminium-alumina department at Glencore following the departure of David Streule, sources close to the matter told Fastmarkets. "Change will take place in the coming weeks or months," a source close to the matter said, while two sources said Streule will be departing by the end of June.Streule will leave Glencore...Read More
The extreme weather that hit Australia over the past week will cause some delays but should have no impact on total deliveries of manganese ore for April, according to producers that mine high-grade material in areas affected by the cyclones. Consolidated Minerals, which owns the high-grade manganese ore Woodie Woodie mine in Western Australia via its Pilbera Manganese subsidiary, said Cyclone Ver...Read More
Robin Scheiner will lead a merged aluminium-alumina department at Glencore following the departure of David Streule, sources close to the matter told Fastmarkets. "Change will take place in the coming weeks or months," a source close to the matter said, while two sources said Streule will be departing by the end of June.Streule will leave Glencore...Read More
Market participants expect alumina prices to plummet upon any future announcement that Hydro's alumina refinery, Alunorte, can return to full capacity, but agree the scheduled court date does not provide any further clarity. Alunorte, the largest alumina refinery in the world, has been running at only 50% of its production capacity since March 2018 because of restrictions imposed by authorities in...Read More
Turkish steel mills made no new bookings in the deep-sea scrap market on Thursday March 28, but more transactions made last week were revealed, sources said on Thursday March 28.News of three deep-sea cargoes from last week came to light on Thursday.A steel producer in the Iskenderun region booked a US cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $320 per tonne, 5,000 tonnes of shredded a...Read More
London Metal Exchange three-month base metals prices continue to produce sluggish price action, down 0.2% on average in the morning of Thursday March 28. Copper bucked the trend with a mild gain of 0.1% while aluminium was unchanged at $1,903 per tonne. But LME zinc and lead prices were down 0.1% while nickel and tin were down 0.5%. Trading volume was fairly subdued at 4,325 lots as of 6:48am Lond...Read More
Domestic prices for cold-rolled coil (CRC) in Southern Europe have fallen this week due to limited demand, sources told Fastmarkets on Thursday March 28.Fastmarkets' weekly price assessment for domestic CRC in Southern Europe was ?,?530-560 ($598-630) per tonne ex-works on March 27, down by ?,?30 per tonne compared with ?,?560-590 per tonne ex-works a week earlier.Italian mills were reported to be...Read More