Retail sales disappointed in both the U.S. and China Futures on the Dow Jones Industrial Average (DJI) are pointedlower today, down nearly triple digits amid lingering concerns about the global economy. In China, ugly data on industrial production and retail sales fueled stimulus expectations. In the U.S., meanwhile, traders are digesting April retail sales that dropped 0.2%, falling short of the...Read More
German steelmaker ThyssenKrupp expects the global steel market environment to remain challenging in 2019, amid "continuing global overcapacities, ongoing risks from trade uncertainties, [and] sharply rising iron ore prices," the company said on May 14.Fastmarkets' 62% Fe iron ore index averaged $82.41 per tonne cfr Qingdao over the first quarter of 2019, compared with $74.39 per tonne cfr in the f...Read More
These 25 stocks beat the S&P 500 by 2% or more on MondayWhen the S&P 500 Index (SPX) Index fell 2.4% on Monday, it was the first 2% fall in the index since January. Since 2010, there have been 12 other instances when the index got hit with such a steep decline, and it was the first 2% drop in at least three months (so I'm disregarding the 2% drops that occurred within three months of another one)....Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
European nickel premiums universally declined on Tuesday May 14 after weak regional demand for material manifested in depressed premiums across the board. Elsewhere, the cif Shanghai premium rose to a renewed 14-month high on fresh arbitrage profit opportunities on the back of a newly-opened import window. The European briquette premium remained on a three-week downward trajectory on weak de...Read More
By: Ira EpsteinGold trend in up-thrust and is staying bullish. Hits 100 day moving average, running out of steam. The stock market rally relieved some of the safe-haven buying:Read More
After confirming immediate-term bottom, gold price is on the upswing.Trade war fears have been the driving force behind gold's rally.Unless confirmed by silver, the gold rally likely isn't sustainable.Gold's luster is gradually returning after months of underperforming equities and other risk assets. Yet despite the metal's improved prospects in the immediate term, there are still several...Read More
Gary Christenson, The Deviant InvestorEgon von Greyerz discussed "3 Dozen Reasons to Hold Gold" and mentioned price targets of $30,000 for gold and $3,000 for silver. Gold sells for $1,310 and silver sells in the mid-$15s. His numbers suggest that gold could increase by a factor of 20 and silver by nearly 200. For perspective, refer to the table below.He shows the many reasons to own gold in t...Read More
By: Craig Hemke, TF MetalsOn several occasions since late 2018, we've written about the current similarities to 2010. This "2010 9" theory became our theme for 2019, and we wrote about it here:o https://www.sprottmoney.com/Blog/gold-and-silver-2...Well, here we are in May and it's time to check in on the status of this forecast. The parallels to 2010 are becoming clearer. Plus, there are additi...Read More
The on-again, off-again trade deal with China has put some life into the stock market, all of it vicious. It has also invigorated an otherwise moribund discussion concerning weather tariffs are good or bad. Popular wisdom has it that the mere discussion of Smoot-Hawley tariff legislation caused the stock market to gyrate wildly in 1929 and eventually to crash. Pat Buchanan does a good job debunk...Read More
Cash will be the king now. Low risk traders and investors will prefer to sit on cash rather than invest in uncertain times. Fundamentals will be the key to investing now. Now a days it is very rare to see rallies in any investment dictated by fundamentals. Gold, Indian stocks and even Indonesian stocks have a long term fundamentally strong story. Only risk to the world growth is energy prices be...Read More
Nickel's three-month price on the London Metal Exchange recovered at the close of trading on Wednesday May 15, climbing back above $12,000 per tonne while the metal's cash/three-month spread moved into backwardation for the first time since 2015.The metal's cash/three-month spread differential was recently seen in a backwardation of $9 per tonne, while its nearby June-July spread was now trading i...Read More
The price range for hollow steel sections in Northern Europe has widened downward this week under the influence of lower prices for hot-rolled coil (HRC), sources told Fastmarkets on Wednesday May 15.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe widened downward to ?,?600-630 ($673-707) per tonne delivered on Wednesday, lower b...Read More
Test results from Marathon Gold's (TSX: MOZ) Leprechaun and Marathon deposits at the company's Valentine Lake gold camp in Newfoundland and Labrador demonstrate they are amenable to heap leaching.Selected intervals of mineralized material were shipped to SGS Canada last fall and highlights from the tests released today show a 72% gold extraction average for -25 mm crush size from the Leprechaun de...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 15 that are worth another look.Rising inventories of manganese ore at Chinese ports amid soaring import volumes were being fueled by changes to alloy smelters' purchasing habits, offset by low stocks at plants, market participants told Fastmarkets.Trafigura has consolidated its leadership team in the non-ferrous...Read More
Markets Trade War Oil Bitcoin Gold Markets stable as Trump reassures Wall Street The markets are looking a little flat on Wednesday, with investors soothed by the calming words of Donald Trump who sought to reassure us all that the trade war with China is merely a little squabble. After freaking out at the beginning of the week, investors have quickly settled down and, it would appear,...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
Currie Rose Resources (TSXV: CUI) received this week the approval of its notice of work permit application, which allows the company to start drilling at its Rossland gold project in southern British Columbia.In a press release, the Toronto-based miner said that the upcoming drill campaign is based on a review of all exploration data within the project.Besides gold, historical records identify sig...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
Gold appears to have been trading in a huge sideways trend over the past 3 years after the price bottomed right at the end of 2015. More recently we saw a strong recovery from an August 2018 low of $1160 with prices peaking at $1346 six months later in February of this year. We seem to have experienced a healthy correction to the downside, over the past 2-3 months as prices dipped to $1265, just...Read More