President Trump and President Xi Jinping agreed to halt escalation in their trade conflict. At the same time, the Fed officials became more cautious about the pace of future interest rate hikes. How will the softening of the US trade and monetary policies affect the gold market? Trade Truce and Gold Have you heard about the Christmas truce? It was a series of unofficial ceasefires across the W...Read More
By Avi GilburtI wonder how many of you had your brains in gear when following the action in the market this past week. For those that did not, let's review what happened.First, the market broke out "bigly" on Wednesday, and every media source and investor was absolutely certain that it was due to the Fed chairman's speech (even though he really said nothing new, as future rate decisions were alw...Read More
The Gold Shares ETF needs to pop above its "reversion to the Mean" at $117.56 to regain momentum.The commodities ETF has a negative but oversold weekly chart with my annual pivot at $16.20.The long dollar ETF traded to a fresh 2018 high of $26.04 last week and is now overbought on its weekly chart.Here are the weekly charts for the gold, commodities and dollar exchange-traded funds. The gold trust...Read More
- "Time is running out" - Sir David Attenborough- "Continuation of civilisation is in your hands," Attenborough warns world leaders- Mass extinction is "on the horizon"- Failure to 'join the dots' between environmental risks and significant economic challenges(Editors note: The world faces some very serious ecological challenges due to the pollution, destruction and over consumption of our natur...Read More
HSBC said Apple is "facing the reality of market saturation"Apple Inc. (NASDAQ:AAPL) is one of the worst performers on the Dow in early trading, after HSBC downgraded the FAANG stock to "hold" from "buy," and cut its AAPL price target to $200 from $205. The brokerage firm said the tech titan's "iconic hardware unit growth is broadly over for now," and that it's "facing the reality of market satura...Read More
Global ferro-vanadium prices weakened last week due to trader profit-taking amid sluggish spot market demand. Chinese export prices sink on weak buying interestEuropean ferro-vanadium prices weaken on profit-takingEurope vanadium pentoxide (V2O5) market softens slightly amid inactivityUS ferro-vanadium market experiences more thin trading Export prices for Chinese ferro-vanadium continued to trend...Read More
Oil prices are set for another positive session as expectations rise for a production cutDow Jones Industrial Average (DJIA) futures are signaling a lower start, as Wall Street reacts to a lack of details surrounding a U.S.-China trade truce. Optimism surrounding the deal sent stock markets surging to start the month, but Bloomberg reports no paper trail exists and Beijing has yet to confirm any c...Read More
The Turkish steel scrap imports market remained quiet on Tuesday December 4, with the mills staying away from the deep-sea trade due to the uncertainty in the Asian markets.There have been a number of offers available in the market, but the mills have shown no interest so far this week.A UK supplier was said to be offering HMS 1&2 (80:20) at $313 per tonne cfr but found no takers, Fastmarkets was...Read More
The brokerage firm maintained its rating and lofty price target, thoughThe shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are down 0.2% in electronic trading, after Wedbush removed the video game maker from its "Best Idea" list. The brokerage firm did however maintain its outperform rating and $81 price target on ATVI. This reevaluation follows ATVI's struggles in recent months. Since its...Read More
A new 52-week low in USO's share price coincided with a fresh high in call open interestThe fourth-quarter sell-off in oil prices has been fairly massive in magnitude, with the West Texas crude-tracking United States Oil Fund (USO) down about 34% from its Oct. 3 intraday peak of $16.24. The commodity fund's collapse occurred with such blinding speed that its 50-day and 200-day moving averages are...Read More
In our house discussions about BREXIT are banned these days. Mrs Norman thinks that the topic is like a faulty lightbulb … too much heat and not enough illumination … and she is right. Besides, for most Brits it has also become deeply boring as we have quite frankly moved from 100% saturation on the topic … to beyond. Yet it remains a deeply important story. Perhaps the...Read More
Comex copper prices were little changed during morning trading in the US, with market participants still digesting news of a detente between the US and China.The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched down 1.85 cents to $2.7910 per lb.Over the weekend at the Group of 20 Nations (G20) meeting in Argentina, US president...Read More
(Kitco News) - Changes in monetary policy could really affect stock markets and increase volatility in equities in 2019, this according to Will Rhind, CEO of GraniteShares. "I think we can have quite a significant change if there's a rate rise in December. I think that really increase the likelihood of a stock market sell-off coming into next year. So, we've already got a strong dollar as you kn...Read More
The latest news and price moves to start the Asian day on Wednesday December 5.Positive developments in the United States-China trade dispute kept London Metal Exchange base metal prices mostly elevated at the close on Tuesday December 4, although broad strength in the dollar is capping price rallies. Read more in our live futures report.Here are how prices looked at the close of trading:Flat stee...Read More
The latest metal markets news and price moves to start the North American day on Tuesday December 4. Base metals prices, bar those for tin, on the Shanghai Futures Exchange were all down during Asian morning trading on Tuesday December 4, with investors taking profits following the complex's strong performance on Monday.Here is how the LME base metals complex looked at 11.58am London time: For...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday December 4.Base metals prices, bar those for tin, on the Shanghai Futures Exchange were all down during Asia morning trading on Tuesday, with investors taking profits following the strong performance by the complex on Monday. Check Fastmarkets MB's live futures report here.United Kingd...Read More
Klondike Gold (TSX-V: KG; FRA: LBDP) reported that, in 2018, it drilled 87 holes totaling 9,511.93 metres at the Lone Star Zone of its Klondike District Property. To date, the company has received final assay results from 51 of the diamond drill holes. Such results have prompted a plan to continue exploration to affirm multiple local sources of bedrock gold mineralization. "Hole LS18-201 on 12300E...Read More
President Trump and President Xi Jinping agreed to halt escalation in their trade conflict. At the same time, the Fed officials became more cautious about the pace of future interest rate hikes. How will the softening of the US trade and monetary policies affect the gold market? Trade Truce and Gold Have you heard about the Christmas truce? It was a series of unofficial ceasefires across the Weste...Read More
Published 22 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold bullion bars and coins.Palladium soared to a record high on Tuesday, fueled by speculative interest and tight supplies of the autocatalyst metal, briefly surpassing bullion, which scaled to more than a five-week peak as the dollar slid.Spot gold was up 0.6 percent to $1,237.81 per ounce after earlier hitting $1,241.86, the highest...Read More
Gold is currently trading at $1,237; the highest level since Nov.1 and looks set to extend the rally further, tracking the slide in the US 10-year treasury yield. Technically speaking, the safe haven yellow metal is looking north, having cleared the resistance of the trendline connecting the Oct. 26 low and Nov. 7 low. That breakout gained credence as prices moved above the horizontal resistance...Read More