SHANGHAI, Feb 27 (SMM) - SMM expects nickel prices to remain firm in March and stainless steel prices to be rangebound as consumption recovers with low output.We also spoke to a range of market participants in the nickel industry as they weighed in on the market post-Chinese New Year.Nickel ore: Despite a small, expected short-term rise from post-holiday stocking, nickel ore prices is expected to...Read More
SHANGHAI, Feb 27 (SMM) – While not all downstream customers have resumed operations post-Chinese New Year, SMM believes zinc prices would stay firm due to the huge decline in LME inventory.Sources at Chinese miners and smelters were mostly bullish about zinc prices as they believe the domestic zinc concentrate output addition would be limited due to still strict environmental protection poli...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average and S&P 500 finished higher for the third straight day.Even with its big jump on Monday, the Dow remains more than 900 points from its all-time high set on Jan. 26.Federal Reserve Chairman Jerome Powell on Tuesday will deliver his first testimony before Congress since he took over from Janet...Read More
Gold and oil rise, dollar steady, ruble gains on S&P upgradeFed Chair Jerome Powell is due to speak on Tuesday, ThursdayPaul Richards of Medley Global Advisors and Nick Bennenbroek of Wells Fargo discuss monetary policy expectations.U.S. stocks rose to a nearly four-week high Monday as continuing gains in Treasuries pushed yields further below 2.9 percent, alleviating investor angst that higher ra...Read More
The latest news and price moves to start the Asian day on Tuesday February 27.Lead prices on the London Metal Exchange continued to strengthen, closing 1.4% higher at 5pm London time on Monday February 26 with its cash/three-month spread moving into backwardation. Read more in our live futures report.Here are how LME prices looked at Monday's close:The price difference between lead and zinc on the...Read More
3 Hot Things to Know About Markets Right Now Warren Buffett might have said more than people think in his latest annual letter to Berkshire Hathaway (BRK.A) shareholders.General Electric (GE) will take a big profit hit as it restates its earnings for 2016 and 2017.Jefferies says it only sees the S&P 500 rising 3.9% this year to 2,855. Market Snapshot U.S. stocks are set to extend last...Read More
The latest news and price moves to start the Asian day on Tuesday February 27.Lead prices on the London Metal Exchange continued to strengthen, closing 1.4% higher at 5pm London time on Monday February 26 with its cash/three-month spread moving into backwardation. Read more in our live futures report.Here are how LME prices looked at Monday's close:The price difference between lead and zinc on the...Read More
This month's stock market correction is still fresh in everyone's mind. Many have even begun to wonder if the era of dark money was truly over.How will the recent correction affect the Fed's dark money policies?The consensus explanation for the correction was that inflation was rising and that would precipitate faster rate increases. The Feb. 2 unemployment report gave the impression that higher...Read More
Markets were up again big today and volatility was down. But we haven't seen the last of rising volatility, nor of the central banks' attempts to thwart it.This week, new Fed Chair Jerome Powell will be giving his first congressional testimony, and you can be sure that markets are waiting on his words with bated breath.Before his testimony, the Fed will be releasing its Monetary Policy Report, whi...Read More
I've mentioned previously that I believe the recent stock market correction would provide us with buying opportunities in a frothy market for cannabis companies.Sure enough, that's exactly what's unfolding before us.And nowhere is that truer than in the pharmaceutical business.We've spent a lot of attention on the big trend of legalized weed in recent months. It's a major shift that's going to con...Read More
He did it! ...And Wall Street still doesn’t believe it.I’m talking of course about the corporate tax cuts that the Trump Administration pushed through Congress, and the positive effect that this new tax bill has already had on American companies and American investors.Sometimes I don’t know whether to laugh or cry when I see how Wall Street and the mainstream media is covering th...Read More
They say 95% of new traders fail and quit before they become profitable.It's an impossible statistic to prove. But this number feels accurate. I think it's safe to assume less than one out of every 10 novice traders survives his first big losing streak.Why is the market eating most new traders alive?The truth is most newbies can't handle the mental aspects of the trading game. If you have a few sp...Read More
Gold undermined by hawkish Fed minutes.Speculators turned slightly bullish on gold for the first time in four weeks, the CFTC shows.ETF investors bought more gold, albeit a small pace, according to FastMarkets' estimates.Expect negative macro forces for the precious metals complex to prove transient.The bull market in gold has just begun. I long IAU with a very long-term approach (>12m). So...Read More
Over the last 6 months, GLD is showing a gain of 3.15% while the HUI is down by 11.7%.There is a strengthening of fundamentals in the gold miners, not a deterioration.It certainly appears as though the HUI wants to hit a double bottom at 160.The risk/reward heavily favors the miners.The story in the gold sector continues to be the severe underperformance in the miners compared to the SPDR Gold Tru...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 Monday was a so-so 76-89-125. The TSX Venture Exchange rose fractionally to 826 while polished diamond prices rose 0.2 per cent. Randy Turner's Canterra Minerals Corp. (CTM) gained one cent to 3....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 gained $4.70 to $1,332.90 on Monday. The TSX Venture Exchange gained 0.78 point to 826.87 while the TSX Gold Index rose 1.97 points to 184.56. Torex Gold Resources Inc. (TXG) slid 65 cents to $10.51 on 850,000 shares...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 CaswellGary Tanner, the former Valeant Pharmaceuticals Inc. executive defending fraud charges over a kickback scheme, has lost a motion to dismiss the case. A New York judge has determined that prosecutors set out the charges in sufficient detail for the mat...Read More
The latest news and price moves to start the Asian day on Tuesday February 27.Lead prices on the London Metal Exchange continued to strengthen, closing 1.4% higher at 5pm London time on Monday February 26 with its cash/three-month spread moving into backwardation. Read more in our live futures report.Here are how LME prices looked at Monday's close:The price difference between lead and zinc on the...Read More
Africa-focused Caledonia Mining Corp. (TSE:CAL) revealed Monday that one person died on February 23, following an accident at its Blanket gold mine in southwestern Zimbabwe.The fatality occurred in the Blanket Quartz Reef area of the mine, where production has been stopped. Management said they will not provide further details about the incident, as it should first be investigated by the Inspector...Read More
Northern Empire Resources Corp. (TSX-V: NM) released results from its Daisy Deposit as part of its 2018 15,000-metre drill program to expand resources at the Sterling Gold Project in Nevada. These results will go towards an updated resource due in the first half of 2019 and indicate the potential for an open pit, heap leach operation. The Daisy Deposit is located within the Crown Block of depo...Read More