It could be a week to remember for SOCL as some of its top holdings take the earnings stageEarnings season is officially underway, and while bank and healthcare stocks have dominated Wall Street's attention lately, social media stocks could soon have their "moment in the sun." With Facebook (FB), Twitter (TWTR), and Snap (SNAP) set to report earnings this coming week, we decided to crunch the numb...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 23.Please click...Read More
By: Dave Kranzler"Central banks stand ready to lease gold in increasing quantities should the price rise." - Alan Greenspan, July 1998 testimony to CongressAt 8:39 a.m. EST 523,200 ozs of paper gold were unloaded onto the Comex in the space of less one minute:Anyone who's traded big positions on a trading desk knows that the best way to unload a position that is larger than the immediate liqui...Read More
By: Keith WeinerWe have a postscript to last week's article. We said that rising prices today are not due to the dollar going down. It's not that the dollar buys less. It's that producers are forced to include more and more ingredients, which are not only useless to the consumer. But even invisible to the consumer. For example, dairy producers must provide ADA-compliant bathrooms to their emplo...Read More
TORONTO--(BUSINESS WIRE)--Men?" Inc. (TSX-V:MENE) (US:MENEF) ("Men?"" or the "Company"), an online 24 karat investment jewelry brand, today announced financial results for the fourth quarter and fiscal year ended December 31, 2018. All amounts are expressed in Canadian dollars unless otherwise noted.FINANCIAL HIGHLIGHTS:Record IFRS Annual Revenue of $7.9 million in 2018, a $7.9 million (12,305%)...Read More
By: Ira EpsteinJune gold contract swing line 1$273 / $1299.1Read More
By: Jordan Roy-Byrne CMT, MFTAThe downside potential in precious metals discussed last week is playing out as Gold and gold stocks have broken down technically. The global economy appears to be firming and that is evidenced by a sustained rebound in global equity markets. As a result, the potential for a rate cut which pushed precious metals higher is now unwinding. That has caused the breakdo...Read More
With Elizabeth Warren aggressively on-the-stump, the truly rich had better hold onto their wallets. Now she's pitching student-debt cancellation that would be paid-for with a 2% levy on wealth above $50 million and an additional 1% tax on wealth above $1 billion. Is this the greatest idea since sliced bread, or what? Socialists, even brainy ones like Warren, can't help sounding like morons whene...Read More
I have been writing for quite some time that higher crude oil prices will be a big threat to global economic growth. Iran, Venezuela and Libya crude oil is not there. May to September is the key consumption months for the year. Global economic growth will be derailed if crude oil prices continue to rise. Inflation in Asia will also rise if crude oil prices zoom. Higher crude oil prices is genera...Read More
The market for hot-rolled steel sheet may soften in Russia's Central Federal District around Moscow when flat steel producer ArcelorMittal Temirtau resumes shipments, sources told Fastmarkets on Tuesday April 23.Kazakhstan producer ArcelorMittal Temirtau is the largest supplier of imported flat steel products to Russia. It ceased shipments after an explosion in a gas line in November last year.Fas...Read More
Full Article: These charts are a big reality check for gold mining stock bullsBy: Frik ElsDespite a widely held view that gold should be trading north of $1,400 this year, since the February peak well short of that target, prices have gone in the other direction.Gold mining stocks have fared slightly better after a flurry of mergers and acquisitions at the top end rekindled interest in the sec...Read More
The market for exports of hot-rolled coil (HRC) from the Commonwealth of Independent States (CIS) fell because of lower prices for Ukraine-origin material during the week ended Tuesday April 23.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $470-495 per tonne fob Black Sea on April 23, widening downward from $485-495 per tonne fob a week earlier.HRC offers from Ukraine fell...Read More
Europe's return to the metals market after the Easter bank holiday has failed to precipitate any significant consumption, while a further slew of weak European and United States economic data destabilized London Metal Exchange three-month contracts by the close on Tuesday April 23. The entire complex traded down by close of play but no metal was harder-hit than nickel. The metal's LME three-month...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday April 23 that are worth another look.Metal brands deliverable on the London Metal Exchange will have to comply with international standards for responsible sourcing by the end of 2020, if a consultation by the exchange is approved by market members, Fastmarkets has heard. Negative pressure arising from delays in the electri...Read More
Source: Michael J. Ballanger for Streetwise Reports 04/22/2019Sector expert Michael Ballanger discusses generational attitudes toward investing and how they are affecting the precious metals markets.Masochism: "gratified by pain, degradation, deprivation, etc., inflicted on oneself either by one's own actions or the actions of others."On Friday afternoon, I completed my weekly missive, which w...Read More
Early 2019 looked like a great set-up for gold, but failed to live up to its billing.Now comes the "sell in May and go away" part of the annual cycle, as Asia's wedding season ends and demand for gold jewelry dries up.But as gold has fallen this month, speculators have fled and the futures structure has turned more positive.The most recent COT report shows speculators cutting their n...Read More
Gold prices fell to a 4-month low on Tuesday as the dollar gained and investors preferred riskier assets, dampening the safe-haven metal's appeal. Meanwhile Hedge funds and money managers switched to a net short position in COMEX gold in the week to April 16. Where are commodity prices heading next? Watch Phil Carr at The Gold & Silver Club review Gold with t...Read More
Bitcoin has enjoyed a YTD of over 40%. Gold has performed poorly and has yielded losses of 0.4%. Thanks to April’s rally, Bitcoin(BTC) has become one of the best-performing assets out there, based on year-to-date (YTD) yield. BTC has outperformed legacy assets like gold, oil, real estate, Nasdaq, etc. Bitcoin Bitcoin’s April rally took it up from $4,130 to $5,300. Since BTC be...Read More
Recent positive news suggest the US economy spring revival. But what about gold? Will it blossom? Will the gold love trade take reins from gold as a safe haven play? Retail Sales Surge Last week, the government has released its latest report on the retail sector. The retail sales jumped 1.6 percent in March, the best results since September 2017, as one can see in the chart below. The change was a...Read More
Published 20 Hours AgoUpdated10 Hours AgoReuters Mariya Gordeyeva | ReutersGold prices fell to a near four-month low on Tuesday as the dollar gained and investors preferred riskier assets, dampening the safe-haven metal's appeal.Spot gold was down 0.6 percent at $1,266.98 per ounce, after falling to its lowest since Dec. 26 at $1,265.90.U.S. gold futures fell 0.7 percent to $1,268.70 an ounce."Go...Read More