The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More

The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More

This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More

Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More

Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More

Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More

The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

The French Revolution of 1849 gave us this saying: the more things change, the more they stay the same. Let's look at its usefulness for current situation in gold. In Friday's Alert, we wrote that the turn of the month and the corresponding reversal is most likely to be a topping action, instead of a bottom and that the next meaningful bottom is going to take place at a later date. Gold rallied, a...Read More

The DoJ is reportedly preparing to probe Alphabet for violating antitrust lawShares of Google parent Alphabet Inc (NASDAQ:GOOGL) are tanking this afternoon, last seen down 6.2% at $1,039.03, after news broke that the U.S. Justice Department (DoJ) is allegedly planning an antitrust probe into the tech giant.In response, Evercore ISI was quick to slam GOOGL with a Street-low price-target cut to $1...Read More

J.P. Morgan Securities removed Salesforce.com from its Analyst Focus listSalesforce.com, Inc. (NYSE:CRM) was just taken off J.P. Morgan Securities' Analyst Focus list, right before the cloud concern unveils its first-quarter earnings after the close tomorrow, June 4. The analyst maintained its "outperform" rating and $180 price target, but warned software valuations were nearing a 15-year peak. Th...Read More

Pullbacks to KDP's 80- and 100-day moving average have bullish implicationsBeverage stock Keurig Dr Pepper Inc (NYSE:KDP) nabbed a record high of $29.76 back on May 15. Since then, however, the shares have logged three straight weekly losses, sending KDP toward two key trendlines that have historically bullish implications. In other words,the security could be eyeing its next surge higher.Specifi...Read More

The Nasdaq, meanwhile, is still in the redThe Dow Jones Industrial Average (DJI) was down triple digits earlier, as a fresh set of trade fears emerged after the Chinese government released a critical white paper over the weekend. The big-cap index has since swung to a 67-point lead on strong gains for several blue chips, including Merck (MRK), Verizon (VZ), and Walgreens Boots Alliance (WBA). And...Read More

Some of today's put volume may be protectiveIt's been a volatile stretch for Genocea Biosciences Inc (NASDAQ:GNCA) stock, per its 30-day historical volatility of 102.9%, a new 12-month high. Looking closer, the shares surged 25% on Friday thanks to news the company's lead cancer treatment, GEN-009, will be featured in the Journal of Clinical Oncology (JCO). And today, GNCA stock is up 54.2% at $8....Read More

Already legal in 30 states, the tide is turning for medical marijuana.It seems like everyone is looking for a way to make money from the legal marijuana boom...But many don't want to roll the dice and risk their hard-earned money on a penny stock, or spend hours learning how to buy shares of a grower on some Canadian exchange.But there is good news.Marijuana profit-sharing plans are here, and one...Read More

Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More

Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More

Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More

Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More

Credit Suisse gave detailed analysis for how tariffs could impact the companiesWall Street last week quickly named beer stock Constellation Brands (STZ) a loser on potential Mexico tariffs. More analysts are weighing in this morning, this time on the alternative energy space. Specifically, Credit Suisse analysts said Enphase Energy Inc (NASDAQ:ENPH) and SunPower Corporation (NASDAQ:SPWR) would be...Read More

RBC is impressed with Waste Management's tech initiativesThe shares of Waste Management, Inc. (NYSE:WM) are up 0.9% to trade at $110.40 this morning, and earlier nabbed a record high of $110.90. This comes after RBC upgraded the trash giant to "outperform" from "sector perform," and raised its price target to $125 from $113. The analyst in coverage waxed optimistic on the company's leadership tea...Read More

While geopolitical concerns have been the prime driver for most commodity markets recently, iron ore has been a standout, trading largely on traditional fundamentals.Since the tailings dam disaster in January at one of top exporter Vale's mines in Brazil, iron ore has traded almost exactly as you would expect for a commodity that suddenly went from a situation of comfortable to constrained supply....Read More

Humana said it is not buying Centene Healthcare concern Centene Corporation (NYSE:CNC) is near the bottom of the New York Stock Exchange this morning, afterinsurance heavyweight Humana (HUM) said it will not make a bid for the firm. While Humana typically doesn't comment on M&A buzz, the firm made an exception amid "significant investor speculation and persistent market rumors." CNC stock is down...Read More

The shares hit a five-year low last ThursdayBofA-Merrill Lynch slapped Big Lots, Inc. (NYSE:BIG) with a double downgrade, dropping its rating on the retail stock to "underperform" from "buy." The brokerage firm also nearly halved its BIG price target, to $23 from $45 -- a discount to last Friday's close -- saying the company's full-year forecast is too optimistic, and the shares will likely strugg...Read More

Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, said it's seeking international arbitration to resolve a dispute with the Zambian government about its copper assets in the country.Zambia's government this month began liquidation proceedings against Vedanta's Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax. The company says it...Read More

Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, said it's seeking international arbitration to resolve a dispute with the Zambian government about its copper assets in the country.Zambia's government this month began liquidation proceedings against Vedanta's Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax. The company says it...Read More

It's also a busy day on the economic frontFutures on the Dow Jones Industrial Average (DJI) are trading lower as U.S.-China tensions look ready to hold back markets yet again. Coming off their worst week of the year, stocks are set to fall after China released a white paper blaming the U.S. for the fallout in trade negotiations. It's also a big day for economic data, as investors will be greeted w...Read More

Gold is finally seeing some bullish momentum as trade ructions escalate, fueling the biggest rally among the top miners in seven months.President Donald Trump's plan to impose a 5% tariff on all Mexican goods over illegal immigration rattled financial markets, boosting the haven appeal of the metal that has been weighed down by the strong dollar. China's threat to blacklist foreign firms it accuse...Read More