Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
The "Call of Duty" stock has struggled on the charts since OctoberShares of Activision Blizzard, Inc. (NASDAQ:ATVI) are up 6.5% at $44.39 this morning, after the company reported fourth-quarter earnings and announced plans to cut up to 8% of its workforce -- confirming layoff rumors from earlier this week. The "Call of Duty" maker also unveiled a new buyback program of up to $1.5 billion, and iss...Read More
Exelixis reported fourth-quarter earnings and revenue that exceeded analyst expectationsThe shares of Exelixis Inc. (NASDAQ:EXEL) shot higher out of the gate this morning, but were last seen down 0.7% at $21.53, even though the company reported fourth-quarter earnings and revenue that beat analysts' forecasts. The biopharmaceutical company cited strong sales of its cancer drug Cabometyx for the be...Read More
Well-stocked US tin customers ordered little material in the week ended Tuesday February 12, while in Europe available tin did not necessarily meet customers' specifications and most Chinese market participants were still away for the Lunar New Year public holiday, all factors keeping global premiums flat. US solder-makers said to be facing weak demand, buying less tin Europe still grapples...Read More
The drugmaker cited generic competition for CopaxoneThe shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) have plunged 10% out of the gate to trade at $17.17, after the generic drugmaker reported a fourth-quarter adjusted profit miss of 53 cents per share. And while revenue of $4.6 billion was slightly more than expected, the figure was 16% lower year-over-year due to increased generic comp...Read More
The VIX tends to move higher after it first breaks below 15A recent MarketWatch article caught my eye, pointing out that the Cboe Volatility Index (VIX) has been above 15 for about four months now -- its longest streak since 2012. For those unfamiliar with the VIX, it's calculated using options on the S&P 500 Index (SPX). The more option traders are paying for SPX options, the higher the VIX. Mor...Read More
Chinese President Xi Jinping will reportedly meet with U.S. delegates this FridayDow Jones Industrial Average (DJI) futures are trading more than 100 points above fair value this morning, with traders optimistic about U.S.-China trade talks. Specifically, a report from The South China Morning Post said that a meeting between Chinese President Xi Jinping and U.S. delegates is scheduled for Friday....Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 12 that are worth another look.Heavy highland rains in South America's Andean region prompted mining companies to temporarily halt some copper operations in northern Chile and southern Peru from Friday February 8, before resuming full capacity by February 12. Turkish miner Eti Elektrometalurji has moved into t...Read More
The stock is pacing for a roughly 15-year highThe shares of programmable device maker Lattice Semiconductor Corp (NASDAQ:LSCC) had already been barreling higher since hovering around $5.50 from late October to early November, closing Tuesday at $8.18, suffering just one negative week since Christmas. Now, LSCC stock is set to open near 15-year-high territory.Specifically, the security is trading u...Read More
FCX is on track to break through a former ceilingThe shares of Freeport-McMoRan Inc (NYSE:FCX) are up 5% in electronic trading, after Morgan Stanley upgraded the equity to "overweight" from "equal weight," while trimming its price target to $14 from $16. The analyst in coverage thinks FCX will lead its peers in pricing leverage and benefit from improving China demand, and believes the mining name...Read More
Gold futures finished higher for a second consecutive session on Wednesday, but pared much of their earlier gains as traders tracked moves in the benchmark dollar index, the latest developments in the U.S.-China trade dispute and efforts to avoid another partial U.S. government shutdown. "The 'risk-on' vibe sweeping across global markets and the stabilizing U.S. dollar are bad news for gold which...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Simon Dawson | Bloomberg | Getty ImagesGold will continue to shine amid a weak dollar, says author and gold pro Jim Rickards.Gold prices rose on Wednesday on more signs the U.S. Federal Reserve will likely be patient on further interest rate rises, but rallying global equities kept the metal's gains in check.Spot gold was up 0.04 percent at $1,310...Read More
Gold has created a sideways channel on the 4-hour chart and an upside break would open the doors for a re-test of recent highs above $1,325. 4-hour chart A move above $1,315 would confirm channel breakout and validate gold's exit from the falling channel. Put simply, a move above $1,315 would signal a revival of the bullish move from the January low of $1,276. Trend: Bullish...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday February 13, with a late-afternoon appreciation in the US dollar index contributing to dampened buying sentiment while LME volumes remain low. Copper futures continued to trade in positive territory throughout the afternoon, despite falling over 3% from last week's high of $6,289.50 per tonne on...Read More
The London Metal Exchange has extended the consultation period regarding its proposals on pre-trade transparency to March 1, it said in a note to members on Wednesday February 13. The original deadline was February 19. Initial feedback from members, clients and affiliates suggested they favored a longer period to consider the questions posed in the original market engagement notice, which was...Read More
Iron ore prices largely continued to soften on Wednesday February 13 with no further supply disruptions from Brazil confirmed, but two cargoes of Brazilian Blend fines (BRBF) traded at stronger levels.MB 62% Fe Iron Ore Index: $87.22 per tonne cfr Qingdao, down $0.43 per tonne. MB 62% Fe Pilbara Blend Fines Index: $88.06 per tonne cfr Qingdao, down $0.43 per tonne. MB 62% Fe Iron Ore Index-Low Alu...Read More
Dundee Precious Metals offered a look at the fourth quarter and positive full year financials for 2018. The company recorded revenue of $377.1 million and adjusted net earnings of $29.0 million. The all-in sustaining cost per ounce of gold produced was $659. (All monetary figures are U.S. dollars.)For the full year, metal production totaled 201,095 oz. of gold and 36.7 million lb. of copper. The...Read More
First Cobalt (TXSV: FCC; US-OTC: FTSSF) has extended copper-cobalt mineralization along strike at both its Waite zone and No Name zone, part of its Iron Creek cobalt project in Idaho.The company is reporting four holes it drilled west of the project's current resource in 2018. The holes extend the Waite zone 120 metres west along strike and the No Name zone 60 metres west along strike. The compan...Read More
* Japan's Mitsubishi Materials Corp cut its sales estimate of copper cathode at its Indonesia copper smelting unit, PT Smelting, by 32,000 tonnes from its November forecast to 237,000 tonnes for the year ending March 31, a spokesman said on Wednesday. Sales were 263,000 tonnes a year earlier.* The longer-than-expected maintenance late last year and slower ramp-up after the maintenance caused a red...Read More
Peru's environmental agency, El Organismo de Evaluaci??n y Fiscalizaci??n Ambiental, (OEFA) has ruled out that a "greenish solution" found in a river near Southern Copper Corp's Cuajone mine was the product of a tailings spill.In a statement late Tuesday, OEFA noted it was still supervising operations at the mine, which is located in an area hit by heavy rains over the past week.Southern Copper...Read More
Canada's Barrick Gold TSX:ABX)(NYSE:GOLD), which completed its $5.4 billion merger with Africa-focused Randgold Resources at the start of the year, reported Wednesday a loss for its fourth quarter, due partly to issues at two mines in South America.The world's top gold producer by volume, which keeps its books in U.S. dollars, lost $1.2 billion, or $1.02 per share, for the quarter ended Dec. 31 co...Read More