Prices for China-origin UG2 chrome ore and Turkish lumpy chrome ore rose over the trading session on Friday October 19, while Chinese domestic ferro-chrome spot prices fell slightly on weak demand from stainless steel mills. Turkish lumpy chrome ore prices to China make strong gain in wake of higher UG2 prices Chrome ore price in China supported by lower estimates of stocks Domes...Read More
It's important to keep in mind that the mining stocks have been sold to levels well-below their intrinsic value - in the case of larger-cap producing miners. Or their "optionality" value - in the case of junior mining companies with projects that have a good chance eventually of converting their deposits into mines. "Optionality" value is based on the idea that junior exploration companies with pr...Read More
LONDON (Reuters) - Oil slipped below $80 a barrel on Monday as Saudi Arabia pledged to raise its crude production to a record, two weeks before U.S. sanctions potentially choke off Iranian crude supplies.Saudi Energy Minister Khalid al-Falih told Russia's TASS news agency that his country had no intention of unleashing a 1973-style oil embargo on Western consumers, but rather was focused on raisin...Read More
Bob Moriarty ArchivesOct 22, 2018The market has been more than willing to reward exploration companies showing high-grade gold results lately. After releasingincredible resultsfrom aRed Lake Districtdrill program, Great Bear Resources shot from $.58 a share on August 20th to an amazing $3.25 today.I wrote up Westhaven Ventures several times in the last six months starting at $.19 a share. Ilast ta...Read More
ROME (Reuters) - Italy told the European Commission on Monday it would stick to its contested 2019 budget plans in defiance of EU fiscal rules, but promised not to inflate its deficit any further in the years ahead.In a letter to the Commission, Economy Minister Giovanni Tria said he recognized that the budget, which is set to hike next year's deficit to 2.4 percent of gross domestic product (GDP)...Read More
* Spot gold hovering near 100-day moving average * Speculators cut net short position in week to Oct. 16 * Palladium hits highest in nearly 9 months (Updates prices, adds comment)By Sumita LayekBENGALURU, Oct 22 (Reuters) - Gold fell on Monday as risingstock markets pointed to improved investor appetite for risk,with a slightly firmer dollar also sapping bullion's appeal. Spot gold was down 0.2 pe...Read More
Chilean lithium producer Sociedad Quimica y Minera de Chile (SQM) sold 15% less lithium carbonate quarter-on-quarter in July-September 2018, it said in an announcement preceding its third-quarter earnings statement.A delay to the ramp-up process at SQM's lithium operations at Antofagasta in Chile, and logistical challenges created by low inventory levels, were the core reasons behind the reduced v...Read More
Jack ChanPosted Oct 22, 2018GLD – on buy signal.***SLV – on buy signal.***GDX – on buy signal.***XGD.TO – on buy signal.***CEF – on buy signal.***GDXJ – on buy signal.***Speculation remains at multi decade low, but short covering has begun.Speculation remains at multi decade low, but short covering has begun.A tradable bottomis now in place.Need to see a breakou...Read More
ELKO, Nev/MOSCOW (Reuters) - President Donald Trump said Washington would withdraw from a landmark Cold War-era treaty that eliminated nuclear missiles from Europe because Russia was violating the pact, triggering a warning of retaliatory measures from Moscow.The Intermediate-Range Nuclear Forces Treaty, negotiated by then-President Ronald Reagan and Soviet leader Mikhail Gorbachev in 1987, requir...Read More
Doina Chiacu, Kylie MacLellanWASHINGTON/LONDON (Reuters) - Saudi Arabia on Sunday called the killing of journalist Jamal Khashoggi at its Istanbul consulate a “huge and grave mistake,” but sought to shield its powerful crown prince from the widening crisis, saying Mohammed bin Salman had not been aware.The comments from Foreign Minister Adel al-Jubeir were some of the most direct yet f...Read More
The Monday Market Minute Global stocks rally after China tax pledge helps domestic markets rip to their biggest single-day gain in three years.Beijing aims to tackle slowing growth and trade war impact with tax cuts that could be worth $1.2 trillion after Q3 GDP showed the slowest growth in a decade.European stocks gain, with autos and basic resources leading the advance, even as Italy's budget...Read More
Prices for China-origin UG2 chrome ore and Turkish lumpy chrome ore rose over the trading session on Friday October 19, while Chinese domestic ferro-chrome spot prices fell slightly on weak demand from stainless steel mills. Turkish lumpy chrome ore prices to China make strong gain in wake of higher UG2 prices Chrome ore price in China supported by lower estimates of stocks Domes...Read More
Joyce LeeSEOUL (Reuters) - The U.S. Treasury Department is “deeply concerned” about planned financial cooperation between North and South Korea and has told South Korean banks that “ U.N. and U.S. sanctions on North Korea remain valid”, a South Korean regulatory document has shown.The document, drafted by South Korea’s Financial Services Commission (FSC) and released...Read More
The Chinese-owned Chambishi copper smelter in Zambia has slashed the guidance figure for its 2019 production of blister copper by more than 20%, Fastmarkets has learned.The decision was prompted by new import tariffs to be applied to copper concentrates imported from the neighboring Democratic Republic of Congo (DRC), which could raise raw material costs for producers in Zambia.Chambishi is expect...Read More
CloseGain/LossGold $1222.80-$3.60Silver$14.57-$0.06XAU69.04-1.50%HUI153.48-1.35%GDM553.54-0.98%JSE Gold1165.95-28.97USD96.03+0.31Euro114.69-0.41Yen88.80-0.32Oil$69.36+$0.0810-Year3.197%+0.001T-Bond137.75+0.03125Dow25317.41-0.50%Nasdaq7468.63+0.26%S&P2755.88-0.43% The Metals: Gold saw slight gains in Asia before it drifted down to $1220.50 by midmorning in New York and then bounced back hig...Read More
Hyonhee ShinSEOUL (Reuters) - North and South Korea and the U.N. Command agreed on Monday to withdraw firearms and guard posts in the demilitarized zone village of Panmunjom this week, Seoul’s defense ministry said, the latest move in a fast-improving relationship.The three sides held their second round of talks at Panmunjom to discuss ways to demilitarize the border in line with a recent in...Read More
* Italian yields slide on ratings decision, Rome comments* Euro gives up rally against dollar, holds vs Swiss franc * Chinese stimulus expectation boosts market sentiment * Graphic: World FX rates in 2018 (Adds quotes, details, updates prices)By Tommy WilkesLONDON, Oct 22 (Reuters) - The euro failed to holdearly-session gains on Monday as investors focused on thelikelihood of further political unc...Read More
A sudden reduction in published estimates of chrome ore stock in China has contributed to a recovery in prices for the steel-making raw material since September after earlier high estimates had weighed on prices, market sources told Fastmarkets MB.Published Chinese chrome ore stock estimates from Chinese price reporting agency Ferroalloynet have dropped below the 3 million tonnes reported late in...Read More
Key data from the pricing sessions in London and Shanghai on Friday October 19. China The Chinese grade 553 silicon export price rose against a backdrop of tight supply on the looming dry season from November to May when refineries in Sichuan and Yunnan province curb production as a result of a lack of cheap hydroelectric power. Stockpiling activity among both traders and downstream co...Read More
ROME, Oct 22 (Reuters) - Prime Minister Giuseppe Contedefended on Monday Italy's 2019 budget, which has fallen foul ofthe European Commission, saying the failure of previous effortsto stimulate the economy meant a new approach was needed.In a wide-ranging news conference, Conte said he wantedconstructive dialogue with the Commission over the contestedfiscal package, and predicted that growth would...Read More