(Updates prices, adds comments and chart) * Inflows to gold funds show positive sentiment - analyst * Dollar index near one-week high* Silver and platinum slip to lowest in a week By Sumita Layek and Arpan VargheseBENGALURU, Oct 18 (Reuters) - Gold edged higher on Thursday,supported by an improved technical outlook that helped the metalhold out against a stronger dollar.Spot gold rose 0.1 percent...Read More
TIANJIN, China (Reuters) - A rebound in mining mergers and acquisitions is set to continue into 2019, led by companies from top metals consumer China, as a dearth of exploration spending leaves the industry in need of fresh investment, delegates told a conference on Thursday.Sector M&A in mining powerhouse Canada had its best quarter in more than seven years in July-September, spurred by Barri...Read More
The Thursday Market Minute Global stocks weaken as investors re-price risk following a hawkish reading of the latest Fed minutes that suggests near-term rate hikes will continue as the domestic economy expands and inflation accelerates.China stocks fall to a four-year low in the face of a firmer dollar and rising bond yields, with little relief coming from a U.S. Treasury report that stopped sho...Read More
Nordic Gold's Laiva gold mine in Finalnd. Source: Nordic Gold Corp.Nordic Gold Corp. [NOR-TSXV; FIEIF-OTC; 2FN-FSE] has reached an agreement with PFL Raahe Holdings LP to provide US $7-million in additional financing to enable the company to reach production at the Laiva gold mine in Finland. PFL is an investment vehicle controlled by Pandion Mine Finance Fund LP.The mine is a past producer, is fu...Read More
(Reuters) - U.S. stock futures fell on Thursday after the Federal Reserve’s minutes showed policy makers broadly agreed on the need to raise interest rates further, fanning concerns that triggered a brutal selloff last week.The Fed’s view, detailed in the minutes of its September meeting released on Wednesday, bolsters expectations of a fourth interest rate increase in December and cha...Read More
The Comex copper price tumbled in the morning on Thursday October 18 after the US Federal Reserve indicated another interest rate rise is imminent. The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 4.10 cents to $2.7370 per lb. The broad-based weakness in the base metals follows a rebound in the dollar after the minutes from the US Federal Op...Read More
Drilling to date is limited so true widths cannot be definitively determined. However, based on the geology of the vein zone with a steep dip to the west, true widths are estimated to be about 80-90% of reported interval lengths.Peter Fischl, Exploration Manager goes on to add, "Drilling continues to define a horizon of stronger gold mineralization. This hole targeted the shallower portions of the...Read More
SAN PEDRO DE ATACAMA (Reuters) - Earlier this year, the world’s two biggest lithium producers publicly celebrated new deals with Chile’s government that will allow them to vastly increase output of the ultralight battery metal from the Atacama, the world’s driest desert.U.S.-based Albemarle Corp and Chile’s SQM operate just 3 miles (5 km) apart in the remote Salar, a basin...Read More
Vale's cobalt production fell 31% in the third quarter of 2018 mainly due to decreased output from its Sudbury and Voisey's Bay operations. Vale produced 1,028 tonnes of cobalt in the three months to the end of September compared with 1,489 tonnes in the same quarter of 2017. A 22.5% fall in third-quarter production from Voisey's Bay to 371 tonnes from the previous quarter was caused by scheduled...Read More
Chinese cobalt metal and salts prices fell in the midweek pricing session following an 17.8% drop in local futures contract prices, which dented buying sentiment. Fastmarkets MB's Chinese domestic cobalt metal price fell by 3.6% to 450,000-490,000 yuan per tonne ($25.52-27.68 per lb, China-VAT free) on Wednesday October 17, from 475,000-500,000 yuan per tonne on Friday. Market participants at...Read More
It's all anyone could talk about...The last big cannabis IPO of the year.Last weekend, while I was attending a cannabis investment event in Oakland, there was a lot of "big news."There was the discussion about legalization kicking in this week in Canada, the rumors about another big bull run in the cannabis space after the midterms, and, of course, the latest cannabis IPO that most insiders believ...Read More
BUENOS AIRES, Oct 18 (Reuters) - Argentina's peso closed slightly weaker on Thursday after the central bank sold another round of short-term debt with high interest rates.The peso was down 1.12 percent at 36.65 per U.S. dollar, traders said. It has fallen 1.77 percent in the last two days. So far in 2018, the peso has depreciated 49.11 percent.Earlier on Thursday, the central bank sold 152.373 bil...Read More
FIGLINE VALDARNO, Italy (Reuters) - The head of Italy’s anti-establishment 5-Star Movement Luigi Di Maio said on Thursday that a dispute with the League over a tax amnesty needed to be sorted out because it was upsetting financial markets.“We need a political clarification,” Di Maio told reporters in Tuscany after the two ruling parties had their first major clash over the amnest...Read More
NEW YORK (Reuters) - With mortgage applications falling to their lowest since late-2014, the U.S. home lending industry is facing a major overhaul in how it works and manages staffing levels.Call-center employees who handle customer refinance requests are the most vulnerable as rates have started to climb, analysts said.Those applications have fallen to their lowest level since late 2000, accordin...Read More
WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren said on Thursday the Federal Reserve should not allow Wells Fargo & Co (WFC.N) to grow in size until the bank replaces Chief Executive Officer Tim Sloan.In a letter to Fed Chairman Jerome Powell, Warren said Sloan, a 30-year veteran of Wells, is “deeply implicated” in prior bank misconduct, and it is untenable for him to remain a...Read More
China's domestic hot-rolled coil prices decreased on Thursday October 18 following a sharp drop in the futures market. DomesticEastern China (Shanghai): 4,210-4,230 yuan ($608-611) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 4,110-4,120 yuan per tonne, down 10 yuan per tonneThe significant drop in the futures market dampened demand for HRC and pushed down spot prices for the product...Read More
WASHINGTON (Reuters) - The U.S. Federal Aviation Administration said Thursday it would allow U.S. airlines and codeshare partners to resume flights at three Ukrainian airports and over parts of the Black Sea, citing improved safety and security in parts of Ukraine.The FAA had barred flights over the war zones of Crimea and the Ukraine in April 2014, and expanded prohibitions after Malaysia Airline...Read More
BRUSSELS (Reuters) - Italian Prime Minister Giuseppe Conte presented his country’s 2019 draft budget to EU leaders in Brussels on Thursday, but the summit did not discuss it in any detail, the head of the European Commission Jean-Claude Juncker said.“The Italian Prime Minister presented the Italian situation to us, with big talent and in a very clear way, and we did not ask him about i...Read More
WASHINGTON (Reuters) - President Donald Trump threatened to deploy the military and close the southern U.S. border on Thursday if Mexico did not move to halt large groups of migrants headed for the United States from Guatemala, Honduras and El Salvador.“I must, in the strongest of terms, ask Mexico to stop this onslaught - and if unable to do so I will call up the U.S. Military and CLOSE OUR...Read More
China's ferrous futures ended morning trading slightly higher than their opening prices on Thursday October 18, having been trending downward since during Wednesday night's session. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,168 yuan ($602) per tonne, up 3 yuan per tonne January hot rolled coil: 3,921 yuan per tonne, up 2 yuan per tonne Dalian Commodity Exc...Read More