In two short months market psychology has undergone radical transformation Two months ago we warned of October being the month markets have been known to go bump in the night - 1907, 1929, 1987, 1997, 2007, 2008. Sure enough, on October 2 the Dow Jones Industrial closed at 26,828. By the end of the month, it stood at 25,115 - down over 1700 points and nearly 6.5%. Since then stock market psychol...Read More
By RambusTonight I would like to show you some charts from the PM complex we haven't looked at in a long time. Some of these charts will look familiar to some of our long term members as they were very helpful in the past to help us figure out what the PM complex was up to. This first chart is a ratio combo chart which has the GOLD:XAU on top and the XAU on the bottom. When the ratio is rising g...Read More
CloseGain/LossGold $1243.00-$1.30Silver$14.55+$0.03XAU67.09-0.46%HUI152.82-0.78%GDM558.66-0.31%JSE Gold1249.83+2.68USD97.42+0.21Euro113.22-0.35Yen88.22-0.12Oil$51.65+$0.6510-Year2.879%+0.025T-Bond143.90625-0.15625Dow24370.24-0.22%Nasdaq7031.83+0.16%S&P2636.78-0.04% The Metals: Gold gained $5.20 to $1249.50 in London before it chopped back down to $1241.10 by midafternoon...Read More
TRV's 200-day moving average has been resistance for monthsTravelers Companies Inc (NYSE:TRV) is trading up 0.9% this morning at $124.18, trying to overcome a bear note out of RBC. The brokerage firm downgraded the insurance giant to "sector perform" from "outperform" and dropped its price target to $133 from $143. Citing the California wildfires and Hurricane Michael, RBC lowered its fourth-quart...Read More
ENTX is on track to trade near its late-October highsThe shares of Entera Bio Ltd. (NASDAQ:ENTX) are up 26.3% in electronic trading, after the biotech name announced a licensing deal with Amgen (AMGN) to collaborate on oral treatments for inflammatory diseases and other serious illnesses. Entera will receive up to $270 million in milestone payments, and will retain all property rights to its oral...Read More
Trump tweeted about "productive conversations" with BeijingFollowing Monday's volatile session, Dow Jones Industrial Average (DJIA) futures are trading more than 375 points above fair value this morning on news of fresh trade talks between Washington and Beijing. In addition to an overnight phone call between Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer, and Chine...Read More
Saudi Arabia has not imported rebar in 2018 and cannot utilize its full production capacity due to weak domestic demand, Ahmed Al-Hussain, rebar director of Saudi National Committee for Steel Industry said at Fastmarkets MB's Middle East Iron and Steel Conference in Dubai on Tuesday December 11.Saudi Arabia has a combined rebar and wire-rod production capacity of 13.5 million tonnes per year, yet...Read More
Full Article: Gold Resilient In Light Of Falling British Pound And U.S. Dollar StrengthBy: Gary WagnerIn light of an extremely strong U.S. dollar, gold is holding up quite well today. We only need to look at the KGX (Kitco Gold Index) to illustrate that point. As of 5:00 PM Eastern Standard Time, spot gold is currently fixed at $1,243.30, which is a net decline of $4.40 on the day. Today's decl...Read More
The 64-week moving average for AAPL just switched roles to act as resistanceIt wasn't that long ago that Wall Street was celebrating Apple's (AAPL) record-setting incursion into trillion-dollar market cap territory -- and so the spate of recent headlines (perhaps colored with the faintest tint of Schadenfreude?) crowing that Microsoft (MSFT) had now surpassed its cooler, upscale rival in terms of...Read More
Early investors stand to reap the rewards as a new technology looks to change everything.One research firm - which recommended Google and Amazon before they became household names - has built a worldwide reputation of identifying profitable tech trends well before Wall Street and the talking heads on T.V.And just recently, they've uncovered a technology that's already being labeled "humanity's las...Read More
The outlook for the steel market in the Middle East is improving because of improved oil prices, Abu Bucker Husain, chief executive officer of United Arab Emirates-based Al Ghurair Iron and Steel (AGIS) said in his presentation on Tuesday December 11 in Dubai.2017 had been the worst year for contracts being awarded in the Middle East since 2012 but now investment in construction, infrastructure pr...Read More
Traders don't need to wait until the opening bell to start raking in massive wins.In light of the recent market action, many traders are taking time to reevaluate their portfolios...Analyzing their open positions...And getting ready to make any needed changes to their trading in the weeks and months ahead.However, most traders are under the impression that they have to wait until markets open to...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 11.Please click...Read More
Gold ducks below the key trend-line support into the close in NY as dollar stays on top. Sino/US trade talks jeopardised by potential antagonism by Trump administration. The yellow metal underperformed on Tuesday, weighed by a second straight session of gains for the U.S. dollar and despite concerns that the US and China are about to clash over preparations in the Trump administration...Read More
Saudi Arabia has not imported rebar in 2018 and cannot utilize its full production capacity due to weak domestic demand, Ahmed Al-Hussain, rebar director of Saudi National Committee for Steel Industry said at Fastmarkets MB's Middle East Iron and Steel Conference in Dubai on Tuesday December 11.Saudi Arabia has a combined rebar and wire-rod production capacity of 13.5 million tonnes per year, yet...Read More
Chinese exporters of ferro-vanadium and vanadium pentoxide (V2O5) have significantly cut offer prices to stir up some buying interest overseas, while European traders continued to take profits, applying further pressure on ferro-vanadium prices. Chinese exporters slash offers to promote buying interest Europe FeV market continues to suffer from profit-taking Europe V2O5 market plummets following F...Read More
Australian gold miner Newcrest Mining (ASX:NMC) is betting big on Chile's geological gold potential by closing two deals with exploration juniors in the South American country, the world's top copper producer.The Melbourne-based company kicked off the week by signing an option agreement with Canada's Cornerstone Capital (TSX-V:CGP), which could result in the gold miner acquiring up to a 75% int...Read More
The outlook for the steel market in the Middle East is improving because of improved oil prices, Abu Bucker Husain, chief executive officer of United Arab Emirates-based Al Ghurair Iron and Steel (AGIS) said in his presentation on Tuesday December 11 in Dubai.2017 had been the worst year for contracts being awarded in the Middle East since 2012 but now investment in construction, infrastructure pr...Read More
The latest news and price moves to start the Asian day on Wednesday December 12.Base metal prices rose on the London Metal Exchange by the close on Tuesday December 11, with copper surging after market sentiment was boosted by positive news of easing tensions between China and the United States. Read more in our live futures report.Here are how prices looked at the close of trading:Saudi Arabia ha...Read More
The latest metal markets news and price moves to start the North American day on Tuesday December 11.Base metals trading on the London Metal Exchange was broadly higher during morning trading.Lead was the best performer this morning, up 1.1% to $1,972 per tonne. Only aluminium and tin posted...Read More