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 biotech is pacing for its best day in yearsThe shares of Puma Biotechnology Inc (NASDAQ:PBYI) are up 40% at $39.10 in early trading, after the drugmaker announced better-than-expected revenue for the fourth quarter. The company also reported sales of its breast cancer drug, Nerlynx, that beat analysts' expectations. The stock is now pacing for its best day since July 2014. Today's pop could...Read More
The passage of Bill C-45 could be a signal to early investors that pot stocks are ready to pop.With Bill C-45 now in effect, it's possible that in the very near future, investors may be seeing stock market gains that will never be seen again. This is a sentiment echoed by The New York Times, which reported that when this bill passes as expected, it will "completely legalize marijuana as a consu...Read More
Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More
Crude oil made yesterday another hesitant move higher. Also yesterday, we mentioned here the saying regarding gravity. Sometimes, it takes patience for the underlying forces to win out. Or, doesn't the oil market rather remind you more of a coiled spring actually? Accordingly, what is the position favored most by the odds right now?Let's take a closer look at the charts below (charts courtesy of h...Read More
Gold broke through a mid-term trend support.The precious metal is approaching an important resistance, which capped its upside repeatedly during the past few years.A 5-7% correction is likely before the gold rally continues to the upside.We have published two articles on gold on this website during the past half year. The first concluded on November 1st, 2018, that gold appears to be an attractive...Read More
One of gold's most followed moving averages is about to be tested.Bullion demand and neutral dollar favor gold's intermediate-term trend.Bitcoin is also drawing some attention away from gold, which is good.Gold is on the verge of testing the strength of one of its most widely watched trend lines. Once the gold price comes into contact with this trend line, the 50-day moving average, it wil...Read More
Solid gains since December 2018 may deter investors from considering a holding in gold at this time, but the upwards trend is likely to continue, and downside risk is low.Our proprietary signal has a good track record and is positive, while speculative activity foresees no imminent reversal. Historical articles on Seeking Alpha indicate that a reversal would be identifiable.Our view is that holdi...Read More
Copper-starved LME warehouses could receive a long-awaited influx of metal from an unexpected source, Fastmarkets has learned.Smelters in China, the world's largest copper consuming country, are said to have been exporting tens of thousands of tonnes of cathodes into Shanghai's bonded warehouses over the past two weeks before shipping further afield.Three individual plants have exported at least 7...Read More
Copper premiums basis cif Shanghai could fall further even after a recent collapse, Shanghai market participants told Fastmarkets. Copper cathode premiums are being pressured lower due to a steep backwardation in the London Metal Exchange cash/three-month forward spread of more than $40 per tonne as well as sluggish end-user demand in China. Fastmarkets assessed the grade A copper cathode pre...Read More
Since the summer of 2013, gold has largely remained in a tight price channel between 1,100 and 1,380.It also couldn't get any traction to the upside because the Fed was the least dovish of the world's big three central banks and the dollar was strong on a relative basis.The best case for gold would be if the Fed moved toward easing solely because of a weakening U.S. economy.By Jim Iuorio A...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Friday March 1, with a continued trend of record-low inventories failing to spur persistent price rallies amid broad strength in the US dollar index. Both copper and nickel futures remain well supported, while volumes were moderate over the afternoon, with copper leading the complex at 19,890 lots changing hands...Read More
The London Metal Exchange has released its pricing procedures and methodologies for the scheduled release of its cash-settled futures contracts on March 11, highlighting methods in which the bourse will determine daily settlement prices. In its note to members on Friday March 1, the LME lists select specifications for each of the contracts inclusive of currency, lot size and trading time, while it...Read More
Copper-starved LME warehouses could receive a long-awaited influx of metal from an unexpected source, Fastmarkets has learned.Smelters in China, the world's largest copper consuming country, are said to have been exporting tens of thousands of tonnes of cathodes into Shanghai's bonded warehouses over the past two weeks before shipping further afield.Three individual plants have exported at least 7...Read More
The Indian government's plans of hitting 300 million tonnes of steel capacity by 2030 sounds overambitious in the current scenario given that output only managed to reach the 101 million tonne mark in 2017 - indicating three-fold (Read More
After suffering for some seven years through to 2015, the world's steelmakers have had cause for cheer over the past couple of years. After some heavy losses and write-downs, they finally appear to have emerged from the wreckage of the global financial crisis. An economic upswing has taken root in most regions of the world, Chinese steel output and export growth has slowed noticeably, and steel pr...Read More
Despite its year-to-date gain, silver underperforms its complex.Speculators express a strong buying interest in Comex silver.ETF investors resumed their buying last week. But they remain net sellers on the year.I expect the rally in silver prices to intensify in the near term. Rally 1, Marino Chanlatte (Saatchi Art) Introduction In this brief report, I wish to discuss my views about the silver mar...Read More
For a number of years problems at Ilva, the largest steelworks in Europe, have been casting shadow over the performance of the whole Italian steel industry. Will an acquisition of Ilva by a consortium led by ArcelorMittal, now in its final stage, be a game changer for the market?Following multiple reports of environmental and health problems caused by the Taranto plant, in 2013 Ilva was placed und...Read More
• The USD remains supported by the overnight upbeat data and kept exerting pressure. • Fading safe-haven demand does little to lend any support or stall the ongoing downfall. • Traders now eye US economic docket in order to grab some short-term opportunities. Gold lost some additional ground for the third consecutive session on...Read More
China ended steel production in all of the country's illegal induction furnaces by the end of June last year, it ha claimed.Most operators in China are primarily small private mills that use low-quality scrap to produce substandard rebar. This is mixed with grade III (HRB400) rebar and sold at a discount to construction contractors.For a long period, the government had neither a record of nor cont...Read More
Despite the low demand for silver over the last couple of years, silver (and gold) stacking is set for a turnaround. Matt shares 4 reasons why...by Matt from Silver Fortune via Silver FortuneDespite lackluster investment demand over the last few years, silver and gold stacking is set for a turnaround. Read More