Bad Hair Day Produces Positive DivergencesOn Friday the ongoing trade dispute between the US and China was apparently escalated by a notch to the next level, at least verbally. The Trump administration announced a list of tariffs that are supposed to come into force in three week's time and China clicked back by announcing retaliatory action. In effect, the US government said: take that China, we...Read More
Futility with PurposePlebeians generally ignore the tact of their economic central planners. They care more that their meatloaf is hot and their suds are cold, than about any plans being hatched in the capital city. Nonetheless, the central planners know an angry mob, with torches and pitchforks, are only a few empty bellies away. Hence, they must always stay on point. Watch for those pitch...Read More
Following the Fed raising rates for the seventh time on Wednesday, investors continued to chase FAANG stocks, encouraged on Thursday by a strong retail sales number for May, which came in at 0.8% - more than double expectations, propelled by higher gasoline station sales.From my perspective, strong retail sales are based largely on soaring gasoline prices. Gas station sales drove 23% of the value...Read More
Gold and silver experienced much-needed gains following the Fed hike, but lost them due to a stronger US dollar and a down equities market on Friday morning.Read full newsRead More
CloseGain/LossOn WeekGold $1280.50-$22.30-1.39%Silver$16.59-$0.60-1.01%XAU82.58-2.47%-0.42%HUI177.88-2.34%-0.53%GDM620.37-1.75%-0.52%JSE Gold1048.64-30.58-1.08%USD94.77-0.02+1.28%Euro116.09+0.28-1.37%Yen90.43+0.02-1.06%Oil$65.06-$1.83-1.03%10-Year2.925%-0.012-0.61%Bond144.53125+0.40625+0.43%Dow25090.48-0.34%-0.89%Nasdaq7746.38-0.19%+1.32%S&P2779.42-0.11%+0.01% The Metals: Gold fell $27.40...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort192,75272,51248,368159,416300,003400,536420,883Change from Prior Reporting Period 7,431-1,393-2,344-4,6081,632479-2,105Traders18378794651265178 Small Speculators LongShortOpen Interest 48,15927,812448,695 -2,425159-1,946 non reportable positionsChange from the previous reporting...Read More
- Bitcoin price in one year (June 2019)? - Bitcoin at $10,000 is the call of majority of MoneyConf poll participants- Bears see bitcoin at $0 while uber bulls see $100k/$1m (incl. Max Keiser)- Is binary and "bitcoin will likely go to zero or go much higher"- "Which cryptocurrency are you betting on in 2019?" - MoneyConf poll asks- Bitcoin, ethereum favoured in poll over ripple and litecoin- Wha...Read More
For those interested in the gold sector, gold futures can be a rewarding investment. Learn how to leverage this opportunity.Read full newsRead More
"Link to excellent new @Citi research report on EV adoption, highlighting increasing #nickel content in battery cathodes going forward https://t.co/xt8U37TEMq"Read full newsRead More
Since its inception in 2014, the rise of Benchmark Mineral Intelligence as the lithium industry's reference price has been the ideal case study for how the commodities publishing industry is changing. Scandals such as libor and credit ratings fixes have brought scrutiny (and with it a police raid) on commodity price publishers. This has resulted ...Read full newsRead More
...the last 4 hours have seen around 260,000 contracts dumped through Gold futures or around $34 billion notional!Read full newsRead More
...the last 4 hours have seen around 260,000 contracts dumped through Gold futures or around $34 billion notional!Read full newsRead More
NxGold Ltd. (theRead full newsRead More
LONDON, June 14 (Reuters) - Panasonic Corp expects to more than triple its cobalt consumption in five years' time, industry sources said, even as the company aims to develop cobalt-free automotive batteries in the near future.Panasonic is the exclusive battery cell supplier for all new Tesla vehicles, including the mass-market Model 3 electric car. Sources say cobalt-free batteries are many years...Read More
In 2017, global gold mine production was a reported 3,247 tonnes with China being the largest producer.Read full newsRead More
In 2017, global gold mine production was a reported 3,247 tonnes with China being the largest producer.Read full newsRead More
Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More
(Bloomberg) - After a year of back and forth, the owners of the Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, people briefed on the matter said. Bonds jumped.Joint venture partners Vale SA and BHP Billiton Ltd. have already secured four court extensions to negotiate the settle...Read More
Stock markets finished lower Thursday as traders responded to a surprisingly hawkish turn by the world’s three major central banks over the past 24 hours. Today, the Dow Jones Industrial Average looks to open sharply lower as Trump’s trade war with China manifests a $100 billion round of tariffs on Chinese goods.There’s a lot to digest.The Federal Reserve raised interes...Read More
Barrick Gold may look cheap after its underperformance, but Morgan Stanley prefers Newmont Mining.Read full newsRead More