Source: Michael J. Ballanger for Streetwise Reports 04/30/2018Precious metals expert Michael Ballanger discusses the gold and silver ratio."SHE-NAN-I-GANS"pronunciation: "SH?(TM)?^nan???(TM)nz/"Noun informal1. "secret or dishonest activity or maneuvering." as in "widespread financial shenanigans had ruined the fortunes of many"2. "silly or high-spirited behavior; mischief."To start off, I find...Read More
WASHINGTON, May 1 (Reuters) - The U.S. International Trade Commission said on Tuesday it has determined that U.S. industry is being harmed by steel wire rod imports from Italy, South Korea, Turkey, Spain and Britain.In a statement, the ITC said it had made an affirmative determination in its final phase antidumping and countervailing duty investigation of the imports.Reporting by David Alexander E...Read More
Apple is slated to report earnings after the closeThe Dow Jones Industrial Average (DJI) is down triple digits at midday, dragged lower by disappointing earnings from Pfizer (PFE) and Merck(MRK), while Boeing (BA) is dropping on plans to buy KLX Inc (KLXI). However, Apple (AAPL) stock is one of the few Dow stocks in the black, amid cautious optimism ahead of tonight's earnings release. Energy stoc...Read More
LONDON (Reuters) - Britain’s government agreed on Tuesday to order its overseas territories to make secretive company ownership information public to try to tackle corruption and tax avoidance.Overseas territories and crown dependencies have come under increasing pressure to reveal who is behind anonymously owned companies, with campaign groups saying such secrecy aids money laundering, tax...Read More
WASHINGTON (Reuters) - U.S. Commerce Secretary Wilbur Ross said on Tuesday that the Trump administration was prepared to levy tariffs on China if an American delegation heading to Beijing did not reach a negotiated settlement to reduce trade imbalances.Ross, speaking to CNBC television before traveling to China for talks on Thursday and Friday with top Chinese officials, said he had “some ho...Read More
DETROIT (Reuters) - Major automakers on Tuesday posted lower new vehicle sales in April as consumer demand continued to weaken following a lengthy boom for the industry.Auto sales have been on a bit of a roller coaster ride this year, with a weak performance in February followed by a jump in sales for some automakers in March.Ford Motor Co (F.N) posted a 4.7-percent decline in sales, with retail s...Read More
Chaarat Gold Holdings (LON:CGH) disclosed Tuesday its unsolicited bid for Centerra Gold's (TSX:CG) Kumtor mine in Kyrgyzstan valued the operation, the Asian country's largest gold mine, at $800 million (about Cdn $1.025 billion at today's exchange rate).The miner, which is developing the Chaarat project in Kyrgyzstan, said the proposed acquisition of Kumtor included $400 million in cash plus th...Read More
Chaarat Gold Holdings (LON:CGH) disclosed Tuesday its unsolicited bid for Centerra Gold's (TSX:CG) Kumtor mine in Kyrgyzstan valued the operation, the Asian country's largest gold mine, at $800 million (about Cdn $1.025 billion at today's exchange rate).The miner, which is developing the Chaarat project in Kyrgyzstan, said the proposed acquisition of Kumtor included $400 million in cash plus th...Read More
WASHINGTON (Reuters) - Republican U.S. Senator Marco Rubio, in a move that may undercut his party’s message about the recent tax overhaul ahead of the 2018 midterm elections, told the Economist magazine there is “no evidence whatsoever” the law significantly helped American workers.“There is still a lot of thinking on the right that if big corporations are happy, they&rsquo...Read More
OTTAWA (Reuters) - Canada has repeated its position that imposing punitive trade measures would hurt jobs in both countries, in reaction to U.S. President Donald Trump’s decision to postpone steel and aluminum tariffs that were set to go into effect on Tuesday.The Trump administration said on Monday that the 25 percent tariff on steel imports and 10 percent tariff on aluminum imports from Ca...Read More
(Kitco News) - The gold market is seeing strong selling pressure inlate-morning price action Tuesday. The bears are working hard to push pricesbelow major psychological support at the $1,300.00 level, after having alreadysunk prices below the key 200-day moving average, basis June Comex futures. Apowerful up-move in the U.S. dollar index today, to a nearly four-month high,has the precious metals m...Read More
LONDON (Reuters) - British parliamentarians said they were prepared to issue a formal summons for Facebook Chief Executive Mark Zuckerberg to appear before them and answer questions over a data scandal which has engulfed the technology giant.The social network has faced questions on both sides of the Atlantic over how millions of users’ details got into the hands of political consultancy Cam...Read More
(Kitco News) - The amount of gold and silver transferred between accounts of London Bullion Market Association members fellduring March, the organization reported Tuesday.The LBMA releases clearingstatistics each month showing the net volume of gold and silver transferredbetween accounts of members, essentially providing a snapshot of the amount oftrading activity.The volume of gold ouncestransfe...Read More
WASHINGTON (Reuters) - U.S. Commerce Secretary Wilbur Ross on Tuesday said the one-month extension of the exemption from new steel and aluminum tariffs granted to the European Union was the result of promising discussions to reduce trade tensions, and he does not anticipate granting exemptions to become a continuing practice.“We’re having some potentially fruitful discussions about an...Read More
Mr. Douglas Eaton reportsSTRATEGIC METALS LTD. ANNOUNCES 2018 EXPLORATION PLANS Strategic Metals Ltd. has released 2018 exploration plans for a number of its wholly owned properties.The exploration program is scheduled to include 4,000 metres of diamond drilling on two properties and surface work on 18 other properties, located in relatively accessible regions of Yukon, Northwest Territories and N...Read More
(Bloomberg) - Some big investors see warning signs ahead for markets but are holding their positions. Egyptian billionaire Naguib Sawiris is taking action: He's put half of his $5.7 billion net worth into gold.He said in an interview Monday that he believes gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now, while "overvalued" stock markets crash."In the end you...Read More
Karyopharm stock is on track for its best day in over a yearKaryopharm Therapeutics Inc (NASDAQ:KPTI) is up 16% to trade at $15.19, after the company last night reported upbeat data from its mid-stage study for Selinexor, a cell-cancer treatment. In response, Wedbush raised its price target to $21 from $19, while RBC issued a price-target hike to $24 from $22 -- both in territory the equity has n...Read More
(Kitco News) - Goldman Sachs analysts do notlook for silver to gain ground on gold in the coming months, even though theyare bullish on gold itself.The investment bank Tuesdayreleased a report maintaining its view that gold will climb toward $1,450 anounce by the end of the year even if real interest rates rise. However,analysts called for the gold-silver ratio to remain stable, meaning that silve...Read More
A heavy accumulation of open interest is found at the May 55 call The technical picture for Burger King owner Restaurant Brands International Inc (NYSE:QSR) has been deteriorating in recent months. The shares briefly popped after earnings last week, but this rare upside move was quickly thwarted by a trendline connecting lower highs since October. In fact, QSR topped out near $58, double the 2016...Read More
01-May-2018 (Reuters) - U.S. construction spending unexpectedly fell in March as a sharp decline in homebuilding led to the biggest drop in investment in private construction projects in more than seven years.The Commerce Department said on Tuesday construction spending tumbled 1.7 percent. February data was revised to show construction spending increasing 1.0 percent instead of the previously rep...Read More