Base metals prices on the London Metal Exchange were collectively lower at the close of trading on Thursday December 6, with downward pressure emerging across global equity indices in addition to a sharp downturn in oil futures, which tricked through to metals prices. Prompting the sell-off, escalating concerns over trade tensions between the United States and China continued to deter investors, a...Read More
Iranian export billet and slab prices continued to fall this week, in line with the global downtrend and with sanctions pushing suppliers to lower their offers to try and attact customers.Fastmarkets weekly price assessment for Iranian export billet price was $405-410 per tonne fob on Wednesday October 5, down by $10 per tonne week on...Read More
Most of its sector peers are trading lower today, thoughMarvell Technology Group Ltd. (NASDAQ:MRVL) is bucking broader tech headwinds today, after the chipmaker reported adjusted third-quarter profit of 33 cents per share on $851 million in revenue -- more than analysts were expecting. And even though company forecast a roughly 10% decline in current-quarter storage revenue, MRVL stock is up 3% in...Read More
CloseGain/LossGold $1238.30+$0.10Silver$14.48-$0.04XAU66.35+0.28%HUI150.05+0.46%GDM547.61+0.20%JSE Gold1201.22+52.17USD96.74-0.26Euro113.86+0.46Yen88.79+0.05Oil$51.49-$1.4010-Year2.887%-0.025T-Bond143.5625-0.21875Dow24947.67-0.32%Nasdaq7188.26+0.42%S&P2695.95-0.15% The Metals: Gold chopped near unchanged in low volume trade yesterday before it fell back to $1234.90 in Asi...Read More
The Turkish deep-sea scrap import market was quiet on Thursday December 6, following a sharp price drop recorded the day before.A steel mill in the Marmara region on Wednesday booked a European cargo comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of a mixture of plate and structural (P&S) and HMS 1, 5,000 tonnes of shredded and 2,500 tonnes...Read More
A high-profile Chinese tech exec was arrested in Canada at the request of the U.S.Stocks are set to pick up right where they left off on Tuesday, with Dow Jones Industrial Average (DJIA) futures trading 350 points below fair value at last check. Today's selling appears to be sparked by news that Canadian authorities have detained Huawei Chief Financial Officer Meng Wanzhou at the request of the U....Read More
CloseGain/LossGold $1238.30+$0.10Silver$14.48-$0.04XAU66.35+0.28%HUI150.05+0.46%GDM547.61+0.20%JSE Gold1201.22+52.17USD96.74-0.26Euro113.86+0.46Yen88.79+0.05Oil$51.49-$1.4010-Year2.887%-0.025T-Bond143.5625-0.21875Dow24947.67-0.32%Nasdaq7188.26+0.42%S&P2695.95-0.15% The Metals: Gold chopped near unchanged in low volume trade yesterday before it fell back to $1234.90 in Asi...Read More
By Stefan GleasonThis week, a white metal reached a rare feat. Palladium has traded at a higher cost per ounce than gold.Last month, the palladium market pushed through all remaining technical barriers by posting a new all-time high. A chronic supply deficit now threatens to launch palladium prices into a super spike.Palladium Reaches Gold Price, Makes All-Time HighA true shortage of physical me...Read More
By Dave KranzlerIf the "risk on/risk off" stock market meme was absurd, its derivative - the "trade war on/trade war off" meme - is idiotic. Over the last several weeks, the stock market has gyrated around media sound bytes, typically dropped by Trump, Larry Kudlow or China, which are suggestive of the degree to which Trump and China are willing to negotiate a trade war settlement.Please d...Read More
Powell has recently came up with the metaphor of wandering in the darkness. Will golden sunshine brighten the dark? I Am the Fed Chair and I Know Nothing On November 14th, Powell discussed global perspectives in Dallas Fed with its President, Robert Kaplan. He characterized the Fed's stance, providing an interesting analogy: A non-economic example [of the approach adopted by the Fed] would b...Read More
The price of palladium just exceeded the price of gold for the first time in 16 years. That's an epic even. But what does it really mean? And why should gold, silver, and mining stock investors care about the small palladium market? In short, because this development can tell us something about the future performance of the PM sector in general. The last time the gold to palladium ratio was...Read More
December 6, 2018,Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE)(OTC Nasdaq Intl.: NHVCF)(the "Company" or "Northern Vertex") is pleased to announce the execution of a definitive US$20,000,000 silver streaming agreement (the "Stream" or "Streaming Agreement") with Maverix Metals Inc. ("Maverix") and a concurrent fully funded private placement (the "Private Placement") for gross proce...Read More
- What are "Fake Markets" and will they lead to another global financial crisis? - What do fake markets mean for stock and bond market performance in the future? - Is this the right time to re-balance portfolios and hold more cash and gold?In episode 9 of the Goldnomics Podcast, Stephen Flood GoldCore CEO talks to Francesco Filia CEO of Fasanara Capital and regular contributor to CNBC about his...Read More
By Steve St. AngeloThe big question on the minds of most investors is what will happen to the markets and precious metals in 2019. Well, the answer depends mainly on two factors, the oil price and overall weakness in the economy. If the oil price continues to decline, it will indicate a deflationary outcome for the economy and markets.While this sounds counter to the notion that falling oil...Read More
By Avi GilburtRecently, one of my members was in attendance at the 32nd Economic Outlook Symposium hosted by the Federal Reserve Bank of Chicago. On the first day, he sat in a room with 150 economists. When asked how many see a recession in 2019, all of two hands went up.So, let me ask you a question: When was the last time the majority of economists correctly called for a recession? (I think...Read More
Lots and lots of US economic data releases are there today and till 14th December. Most traders believe that the trend of metals and the US dollar Index will be set after the release of US nonfarm payrolls tomorrow. I do not think so. Next week also there can be trend changing US economic data releases like retail sales and GDP numbers. Physical demand of silver is there in India and Asia. But q...Read More
Stifel has downgraded CNAT, while others issued price-target cutsThe shares of Conatus Pharmaceuticals Inc (NASDAQ:CNAT) are down a whopping 50% in electronic trading, after the drug developer's mid-stage study of a treatment for fatty liver disease failed to meet its main goals. In response, Stifel downgraded the stock to "hold" from "buy," while slashing its price target to $4 from $10. In add...Read More
The European hot-rolled coil market has been under pressure from slow trading and prices are likely to reach the 'bottom' soon, sources told Fastmarkets this week.Demand has been low due to a combination of a seasonal slowdown and high stocks at European distributors. Interest in imported coil has been limited due to long lead times and uncertainty over the definitive decision in a...Read More
How you can transform lagging indicators into leading indicators. From Bollinger bands to momentum oscillators, technical indicators have been at the forefront of the trading world's constant need to stay ahead of the curve since the first exchange opened its door over 200 years ago.After all, every trader is always looking for an edge... Some way to predict what will happen next... And hopefully...Read More
The latest news and price moves to start the Asian day on Friday December 7.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Thursday December 6, with downward pressure emerging across global equity indices in addition to a sharp downturn in oil futures, which trickled through to metals. Read more in our live futures.Here are how prices looked...Read More