Acacia Mining (LON:ACA), the Tanzanian gold producer dealing with an ongoing dispute with the country's administration, has threatened to sue the government in international court as concerns about the safety of its staff mount.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), has been waiting for the Canadian gold giant to negotiate a settlement with President John Magufuli, after he s...Read More
"Any guy that can do a body slam - he's my kind of guy," Trump said to the cheering crowd. "He's a great guy, tough cookie."Continue...Read More
Prices for grade 18/8 alloy steel scrap in the UK and Europe decreased in the week ended Friday October 19, largely because of weak demand.Market participants described an extremely slow alloy scrap market in general, with trading levels diminished both through low demand from stainless steel mills and also by limited supplies.Mills have been buying lower-than-normal quantities of alloy scrap in O...Read More
James Pettit, CEO of Aben Resources, in conversation with Maurice Jackson of Proven and Probable, discusses his company's summer exploration in the Golden Triangle and how the company plans to keep the momentum going throughout the year.Maurice Jackson: Joining us today is James Pettit, the president, CEO and director of Aben Resources Ltd. (ABN:TSX.V; ABNAF:OTCQB). In our last interview, we discu...Read More
Ferrous scrap prices softened globally in the week ended Friday October 19, except for Turkey, where prices moved up on Friday on late news of recent bookings.US export trading was sparse, which led to a drop in prices, while Turkey held back from deep-sea bookings for most of the week and the market in India continued to struggle with that country's weakening currency.Turkey importsTurkish mills...Read More
Steel slab export prices from Brazil went up marginally in the week that ended on Friday October 19, with producers starting to focus on the North American market, where activity is beginning to revive.Fastmarkets' monthly assessment of Brazil's slab export prices was $500-510 per tonne fob on Friday, up from $490-510 per tonne fob in the previous week.Brazilian companies were heard offering mater...Read More
Import prices for steel billet in Southeast Asia were unchanged on Friday October 19, with trading activity at a standstill despite numerous offers in the market. Fastmarkets' daily price assessment for billet imported into Southeast Asia was $510-515 per tonne cfr Manila on Friday, unchanged since October 11. Deals were sparse throughout the week, with re-rollers mostly holding back from making b...Read More
China's domestic rebar prices moved down slightly on Friday October 19 amid soft demand.Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($654-660) per tonne, down 10 yuan per tonneNorthern China (Beijing): 4,330-4,370 yuan per tonne, down 10 yuan per tonneBoth the futures and billet markets weakened during the day, which made the spot rebar market more bearish.The transportation of constructio...Read More
Base prices for stainless steel flat and long products in Europe were unchanged in the week ended Friday October 19, but the alloy surcharges for November, which will be announced next week, are expected to decrease.A distributor had been informed that surcharges for the key grade-304 cold-rolled (CR) sheet were likely to decrease by ?,?40-50 ($46-57) per tonne, it said.If there is such a decrease...Read More
Outstanding earnings from Procter & Gamble drove the Dow higherU.S. stocks closed today mixed, with the Dow staying afloat on the back of impressive blue-chip earnings -- specifically, from American Express (AXP) and Procter & Gamble (PG). The S&P spent the session dancing around breakeven, eventually closing lower alongside the Nasdaq and struggling tech stocks. Regardless, both the Dow and S&P m...Read More
Long put options offer a way to bet bearishly with limited riskA put option is like a call in that it is a type of derivative that relies on the movement of the underlying stock to make a profit. Unlike a call option, a put gains value when the underlying stock moves lower. Buying a put is a bearish bet that gives the trader the right, but not the obligation, to sell the underlying shares for a sp...Read More
The stock has been halted most of the day Stocks are trading higher today and are set to close the week with a win. Two names in particular making a big move out of the healthcare sector are Anavex Life Sciences Corp. (NASDAQ:AVXL) and Dentsply Sirona Inc. (NASDAQ:XRAY), while China-based food processing concern Planet Green Holdings (NYSE:PLAG) soars. Here's what's moving shares of AVXL, XRAY, a...Read More
CloseGain/LossOn WeekGold $1226.40+$1.30+0.69%Silver$14.63+$0.06+0.14%XAU70.09+0.05%+1.17%HUI155.58+0.07%+1.49%GDM558.84+0.35%+1.56%JSE Gold1194.92-3.89+3.52%USD95.72-0.25+0.46%Euro115.10+0.51-0.42%Yen89.12-0.25-0.07%Oil$69.12+$0.47-3.11%10-Year3.196%+0.014+1.36%Bond137.84375-0.28125-0.45%Dow25444.34+0.26%+0.41%Nasdaq7449.03-0.48%-0.64%S&P2767.78-0.04%+0.02% The Metals: G...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort189,200171,53371,278166,143198,139426,621440,950Change from Prior Reporting Period 9,454-46,3887,521-8,16649,6968,80910,829Traders17895885749279194 Small Speculators (C) GoldSeek.com LongShortOpen Interest 47,79733,468474,418 356-1,6649,165 non reportable positionsChange from...Read More
Here is our Friday digest of the important news, commentary, charts and videos we were informed by this week including our special podcast on Direct Access Gold.From our perspective, the most important developments were the IMF's financial warnings and the escalation in central bank gold buying with Hungary increasing its gold reserves by a whopping 1,000% due to increasing "safety concerns."For...Read More
“Policy would need to become modestly restrictive fora time.” This is the key quote from the recent FOMC minutes. This is not areason for gold’s joy.Fed IsBecoming More HawkishYesterday, the Fed released minutes from the recent FOMC meeting. Aseveryone knows, the Committee hiked interest rates by another25 basis points in September. But what about the future stance? Well, the min...Read More
Netflix and a handful of Dow stocks moved on earningsIt was another roller-coaster week on Wall Street, as traders digested a slew of big-cap earnings reports and the latest economic data. September retail sales spooked investors early in the week, and another spate of lackluster housing data didn't help. In addition, the minutes from the Fed's September meeting took traders on a wild ride mid-wee...Read More
Incyte Corporation reported upbeat mid-stage results for its lung cancer treatmentEarlier today, Incyte Corporation (NASDAQ:INCY) reported upbeat results from its mid-stage study of Capmatinib, the company's lung cancer treatment sponsored by Novartis (NOVN). Incyte Corporation says the successful development could net over $500 million in future milestones. INCY stock is up 3.4% to trade at $66....Read More
HAL has been struggling since its mid-May highsOil name Halliburton Company (NYSE:HAL) is trading up 1.9% at $38.73 today, but the shares have been declining since their mid-May highs. Most recently, HAL touched a two-year low of $35.75 on Sept. 2. More broadly, oil stocks are taking a hit this week on oversupply concerns and a sector-wide bear note out of J.P. Morgan Securities yesterday. Meanwh...Read More
Chinese markets rallied after yesterday's steep dropThe Dow Jones Industrial Average (DJI) is moving higher into the weekend, boosted by well-received earnings reports from the likes of American Express (AXP) and Procter& Gamble (PG), with PG up 6.8% to lead the blue-chip index at midday. Investors are also breathing a sigh of relief over China, after the country's securities regulator announced n...Read More