May 13, 2019 Guest(s): Phillip Streible Senior Market Strategist, RJO Futures Renewed trade war fears are breathing life into the gold market as the possibility of a rate cut enters investors' minds, this according to Phil Streible, senior market analyst at RJO Futures. "Potentially down the road, if equities slow down, and if the global economy slows down enough, you might see the Fed cut rates...Read More
The Wall Street Journal did not mince words earlier this year when it ran an essay with the title Only Nuclear Energy Can Save the Planet.The message was clear: Do the math on replacing fossil fuels. To move fast enough, the world needs to build lots of reactors.I've been saying this for years, telling anyone who'd listen that nuclear energy is the cleanest, safest form of baseload electricity the...Read More
It has been said there is a massive paradigm shift going on in the world - a shift that is only slightly perceptible to some - but one that is already revolutionizing the mining industry. Picture an image of a city block at the turn of the 20th century. Horse-drawn carriages fueled by grass and hay were the main method of transportation on dirt roads during the agricultural era. Fast for...Read More
British Columbia's top mining companies have been on a roller-coaster ride over the past five years, according to data compiled for Business in Vancouver's Biggest Mining Companies in B.C. list.In 2015, Teck Resources Ltd. (TSX:TECK.B) (No.1 on BIV's list) and Goldcorp Inc. (TSX:G) (No. 2) suffered massive declines in net income.Teck's net income fell by $2.87 billion to $2.48 billion in the red...Read More
May 13, 2019 Guest(s): Peter Hug Global Trading Director, Kitco Metals The best metal to own to weather the trade wars storm is still gold, owing to its status as a safe haven and the potential for industrial metals to suffer from the economic consequences of tariffs, this according to Peter Hug, global trading director of Kitco Metals. "Given the current state of sort of the macro picture that...Read More
First Quantum Minerals (TSE: FM) is investigating the possibility of re-starting its idled Ravensthorpe nickel/cobalt operation in Australia, according to UK-based market research firm Roskill.The Vancouver-based company acquired the Ravensthorpe mine and processing plant from BHP in February 2010, with commercial production reached in December 2011. However, the mine was later placed under care a...Read More
The world's second largest miner, Rio Tinto, (ASX, LON, NYSE:RIO) is a step closer to begin expanding its West Angelas iron ore mine in the Pilbara, Western Australia, as it has received the state's environmental watchdog's approval.The Environmental Protection Authority (EPA) said Monday it would recommend open-cut mining at the site to be expanded by 4,100 hectares to 26,700ha, taking it to with...Read More
Gold traders wondering about bullion's 5% decline since its February high may not need to look any further than the calendar. That's because gold appears to follow a six-months-on, six-months-off seasonal pattern. We're right in the middle of the period of seasonal weakness, which likely could last through August. To be sure, this seasonal pattern doesn't always hold up every year. Its existence i...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks ended sharply lower Monday after China said it would increase tariffs on as much as $60 billion worth of U.S. imports to as high as 25%. Apple (AAPL - Get Report) shares tumbled 5% as investors worried about the impact of China's tariffs on the tech giant. Teva Pharmaceuticals (TEVA - Get Report) slumped after attorneys ge...Read More
China will implement import tariffs on over 5,000 types of United States' goods starting June 1, 2019, marking an escalation in the trade war between the two countries, the government announced on May 13.Last August, China said it would apply import tariffs of 25% on a series of US metal products including zinc and copper concentrates. Yet, at that time no timetable was confirmed. Starting ne...Read More
Zinc's three-month price on the London Metal Exchange fell by more than 2% at the close of trading on Monday May 13 following the fresh inflow of more than 8,000 tonnes into LME-registered warehouses in Europe. Total on-warrant LME zinc stocks are now above 90,000 tonnes for the first time since January and are trending higher after falling to a record-low of 41,900 tonnes in March. More than 30%...Read More
May 13, 2019 Guest(s): Michael Danov President & CIO, SBP Management As capital deployed in the gold space is thin, investors should allocate assets in their portfolio to make the best of the current gold price instead of constantly wishing for higher price levels, this according to Michael Danov, president and CIO of SBP Management. "There's momentums when you can come in and invest, but people...Read More
Fastmarkets reporters present 12 key things we learned at LME Asia Week 2019 in Hong Kong during May 6-9. 1. LME is in talks with Guangdong local authority to establish warehouses in China Charles Li, chief executive officer of Hong Kong Exchanges & Clearing (HKEX), said the London Metals Exchange is in talks with the Guangdong government to pilot establishing LME warehouses in mainland China. Li...Read More
Here are five Fastmarkets MB stories you might have missed on Monday May 13 that are worth another look.China will implement import tariffs on more than 5,000 types of goods from the United States starting June 1, 2019, marking an escalation in the trade war between the two countries, the government announced on Monday May 13. Fastmarkets reporters present 12 key things le...Read More
China will implement import tariffs on over 5,000 types of United States' goods starting June 1, 2019, marking an escalation in the trade war between the two countries, the government announced on May 13.Last August, China said it would apply import tariffs of 25% on a series of US metal products including zinc and copper concentrates. Yet, at that time no timetable was confirmed. Starting ne...Read More
The junior recently reported samples taken by an arm's length company from potential bulk tonnage targets at the project yielded up to 1,278g/t silver-equivalent.Read More
The global alumina market may tighten in the coming month after around 1.7 million tonnes of Chinese alumina production was suspended on environmental infringements this month, sources told Fastmarkets on Monday May 13. Xinfa Group has closed two production lines out of four at its Jiaokou alumina plant, removing 1.3 million tonnes per year of alumina output after the local authorities launched a...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week-long period to Friday May 10.ChinaThe Chinese silicon export market's price range tightened with downstream buyers refusing to pay higher prices amid bearish sentiment. Concurrently, dip-buying and tight upstream supply boosted the low end of the range. The biggest producer in northern China has halted around hal...Read More
By: David Chapman "Peace, commerce, and honest friendship with all nations...entangling alliances with none" Thomas Jefferson, U.S. president 1801-1809, 1743-1826 "Every man lives by exchanging." Adam Smith, Scottish economist, moral philosopher, pioneer of political economy, author, known as the ''Father of Economics,'' 1723-1790 "Sooner or later every war of trade becomes a war of blood....Read More
My minimum upside target for the S&P 500 is still 3095, about 7.4% above these levels, and I am sticking with it. A corresponding rally in the Dow Industrials would leave them just shy of 28,000. Let me also mention that last week's nasty selloff would have tripped a 'mechanical' buy signal if the S&Ps had fallen just a little farther. The rally targets are purely technical and go directly aga...Read More