Shares in Galantas Gold (TSX, LON:GAL) climbed more than 30% in London on Friday after a court of appeal dismissed a challenge to a Northern Ireland judge's approval of work at the company's Omagh gold project.Mining is already underway at Omagh, but once it reaches commercial production it's expected to produce 30,000 ounces of gold concentrate per year.The company stated the court ruled that...Read More
Jordan Roy-Byrne gives a quick update on the metals sector. He looks at the discrepancies between the GDX and GDXJ charts. He also considers the impact of the upcoming Fed meeting in December and the possibility of a relief rally in the US markets. This bounce in GDX has already gone on a longer than we thought but there is some serious resistance ahead.Jordan Roy-Byrne, CMT is a Chartered Market...Read More
The price of shredded ferrous scrap imported into India fell by $8 per tonne this week due to a poor trading environment, sources told Fastmarkets on Friday November 23.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $350.53 per tonne cfr Nhava Sheva on November 23. This was down by $8.28 per tonne week on week from $358.81 per tonne cfr on November 16.Offer pr...Read More
Crude oil collapsed lower during Friday trade in New York, with the contract facing its seventh-straight weekly dercline as traders increasingly focusedContinue...Read More
Before we list our opinions on the gold market, we want to emphasize that many "cycles" are forecasting a huge move up in gold bullion should commence soon. Also do not forget that there no longer are "market makers" who in the past would bring support to the market....so gold stocks now drop to prices even lower than they did in the past. However, that does offer private investors opportuniti...Read More
The CIS export billet price dropped sharply on Friday November 23 after a Russian billet cargo was reported sold to Southeast Asia at a lower price than other recent deals.Fastmarkets' daily CIS billet index was $446 per tonne fob Black Sea on November 23, down by $7 per tonne day on day.Around 25,000 tonnes of billet from Russia's Abinsk Electic Steel Works was sold to traders to be resold to Sou...Read More
Erik Townsend and Patrick Ceresna welcome Jeffrey Christian to MacroVoices. Jeffrey is the Managing Director and Founder of CPM Group. Erik and Jeffrey discuss the recent moves in gold and look at the forecast for 2019 and beyond. They further discuss why investment demand has dropped and more importantly, is it turning? The touch on silver and give perspective on the gold:silver ratio. Finally, t...Read More
The results will help inform the upcoming drill program design. Silver Bull Sierra Mojada Project Silver Bull Resources Inc. (SVB:TSX; SVBL:NYSE.MKT) completed a 5,297 line kilometer helicopter-borne versatile time domain electromagnetic (VTEM) and magnetic geophysical survey over Sierra Mojada, it announced in a news release. The survey, done as part of South32 Limited's joint venture option, wi...Read More
China's rebar prices declined significantly in both the domestic and export markets on Friday November 23 amid plunging futures.Domestic Eastern China (Shanghai): 3,920-3,950 yuan ($565-570) per tonne, down 70 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, down 40-50 yuan per tonneThe sharp drop in the paper market during the day intensified the bearish sentiment in the spot m...Read More
Chart NotAvailableSymbol DataSymbolCurrencyASX:ADTAUDDescriptionAdriadic Metals are a junior, early-stage explorer with nearly enough resources for a long-life mine looking for silverLogin or Subscribe to access Don's SummaryAlert me when stock is updatedQuick LinksLogin to accessGeneral DetailsFinancial11/23/2018LastAnalysisDataCurrent DataChangeItemValueValueUpdatedValueMkt. Cap (FD):$87.25M$89....Read More
Chart NotAvailableSymbol DataSymbolCurrencyASX:DRGAUDDescriptionBellevue Gold are a junior, project generator looking for goldLogin or Subscribe to access Don's SummaryAlert me when stock is updatedQuick LinksLogin to accessGeneral DetailsFinancial11/23/2018LastAnalysisDataCurrent DataChangeItemValueValueUpdatedValueMkt. Cap (FD):$71.45M$71.45M11/23/2018$0.00MTotal Assets:$18.73M$18.73M11/23/2018$...Read More
Chart NotAvailableSymbol DataSymbolCurrencyASX:ARDAUDDescriptionArgent Minerals are a silver focused junior, early-stage explorer with enough resources for a long-life mineLogin or Subscribe to access Don's SummaryAlert me when stock is updatedQuick LinksLogin to accessGeneral DetailsFinancial11/23/2018LastAnalysisDataCurrent DataChangeItemValueValueUpdatedValueMkt. Cap (FD):$5.67M$5.67M11/23/2018...Read More
European grade-304 stainless steel prices may never fully recover from their present slump because of the need to compete with low-cost production from Asia, particularly in Indonesia, a European trader said on Friday 23 November. The Tsingshan Group plant in Sulawesi, Indonesia, which has capacity of 1 million tonnes per year, mines its own nickel pig iron (NPI) and chromium, as well as having ca...Read More
Key data for the pricing session for the week ending November 23. China Domestic ferro-chrome spot prices softened slightly this week amid thin buying interest.The UG2 chrome ore index was unmoved, with buyers taking a wait-and-watch stance prior to the release of December's ferro-chrome tender prices...Read More
Oil prices plummeted ahead of a key OPEC meetingThe Dow fell over 170 points on this shortened trading day, despite signs of strong Thanksgiving and Black Friday sales. It was another rough day for tech and FAANG stocks, and energy stocks suffered as oil prices plunged. Crude futures touched new annual lows, amid concerns about oversupply ahead of the Organization of the Petroleum Exporting Countr...Read More
The shares have had a more volatile-than-usual 60-day stretchThe shares of United Technologies Corporation (NYSE:UTX) are up 2.4% at $128.73, after China approved the blue-chip defense firm's record $23 billion buyout of aircraft parts manufacturer Rockwell Collins (COL). The deal, which was first announced in September 2017, received the green light from U.S. and European regulators earlier this...Read More
This reform will make US financial system morevulnerable, just adding fuel to the fire of easy money. This is what somepeople worry about. Are they right? We invite you to read our today’s articleabout the rollback of Dodd-Frank Act and its potential implications for theprice of gold.In May, President Trump signed the rewrite of the2010 Dodd-Frank law passed earlier by Congress with rare bip...Read More
Key Gold and Precious Metals News, Commentary and Charts This WeekGold and silver traded sideways this week as we saw stock markets take some heat and undo most of the recent recovery from the October sell off. Oil has sold off and is now at levels that we haven't seen since 2017.Credit: Weekly relative performance (Finviz.com)While the US markets are quiet due to Thanksgiving all eyes are focus...Read More
Apple shares are headed toward their worst weekly rout in yearsIt was a dismal Thanksgiving week on Wall Street, as continued weakness in the tech sector took a toll. A disappointing batch of retail earnings ahead of Black Fridayand a continued rout in oil prices only added to the bearish buzz, and despite a brief respite in the selling pressure on Wednesday, all three major benchmarks are headed...Read More
All through the bear market hopeful rationalizations were served up for a bullish case on the gold miners. All through the bear market we warned people not to eat that rotten turkey!China demand, the China and India “love trade”, cyclical inflation driving up the prices of commodities and resources and the classic… economic growth in the US will create cost-push inflation throug...Read More