BRUSSELS (Reuters) - The European Central Bank has reached a preliminary decision to revoke the license of Malta’s Pilatus Bank after its chairman was charged with money laundering, two ECB officials told Reuters, though legal hurdles remain.The bank was accused of processing corrupt payments for the Azeri and Maltese leadership by investigative journalist Daphne Caruana Galizia, who was kil...Read More
GROUNDBIRCH, British Columbia (Reuters) - At a massive natural gas field in northern British Columbia, Royal Dutch Shell Plc is using new technologies and processes to cut emissions to address public and environmental group concerns that Canada’s nascent liquefied natural gas export industry could be a climate time bomb.The Groundbirch project, perched above Canada’s richest shale gas...Read More
The government of Mexico will request an exemption from a 25% duty that Canada plans to impose on imports of steel products."The Mexican government will take all actions necessary to protect Mexican exporters in the near term," the country's economy secretariat said late in the week ended Friday October 12."It will also use all the available resources...Read More
WASHINGTON (Reuters) - Public companies that fail to tighten their cyber security controls could be violating federal law, the U.S. Securities and Exchange Commission (SEC) said on Tuesday.The regulator’s warning came in the form of a report on its investigation to assess whether nine companies that had been victims of cyber-related frauds had sufficient internal accounting controls in place...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, traded at $525 per tonne cfr, theoretical weight,...Read More
LONDON/LUXEMBOURG (Reuters) - British Prime Minister Theresa May told her ministers on Tuesday they would secure a Brexit deal if they stood together, calling for a show of unity to silence those pressing her to rethink her strategy for leaving the European Union.A day before heading to Brussels for a summit, May is keen to show she has her cabinet’s support after facing pressure from some m...Read More
The Turkish deep-sea scrap market remained silent again on Tuesday October 16, with volumes of billet being purchased instead of scrap, according to market participants.Appetite for scrap has been falling and demand remains low, with reports of mills choosing to purchase billet instead. Turkish domestic billet prices have been on a general downtrend since September 13.Many Turkish steel mills have...Read More
GENEVA (Reuters) - U.N. human rights chief Michelle Bachelet called on Saudi Arabia and Turkey on Tuesday to reveal everything they know about the disappearance and possible murder of missing journalist Jamal Khashoggi and said Riyadh should waive immunity on its diplomatic premises and officials.Overnight, Turkish crime scene investigators entered the Saudi consulate in Istanbul, the last place K...Read More
LONDON (Reuters) - The pound rose above $1.32 on Tuesday on stronger-than-expected labour data, but investors said doubts about a European Union summit yielding much progress on Brexit would limit the currency’s advance.Negotiations are deadlocked over the status of the border between Northern Ireland and EU-member Ireland after Britain leaves the bloc in March.Some traders have been unwindi...Read More
Seaborne iron ore prices were rangebound on Tuesday October 16, while premiums for Pilbara Blend fines were up slightly. MB 62% Fe Iron Ore Index: $71.50 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.53 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.70 per tonne cfr Qingdao, up by $0.36 per tonne.MB 58% Fe Premium...Read More
CloseGain/LossGold $1224.90-$0.50Silver$14.66-$0.03XAU70.10-0.50%HUI155.32-0.36%GDM557.73-0.05%JSE Gold1214.12-37.98USD95.06-0.02Euro115.81UNCHYen89.32+0.11Oil$71.92+$0.1410-Year3.157%+0.003T-Bond138.53125+0.25Dow25798.42+2.17%Nasdaq7645.49+2.89%S&P2809.92+2.15% The Metals: Gold gained $7 to $1232.40 at about 9:30AM EST, but it then drifted back lower for most of the rest...Read More
By Ira EpsteinGold might pullback a bit as Risk On mentality in stocks takes hold.https://www.iraepstein.com/ Read More
Source: Michael Ballanger for Streetwise Reports 10/14/2018 Precious metals expert Michael Ballanger discusses the stock market volatility of the last week and what it may mean for precious metals. -->When asked about the dominant theme for the markets last January, I said that the one thing I looked forward to was a return of "VOLATILITY" as the Federal Reserve Board moved to "normalize" t...Read More
Graceland UpdatesBy Stewart Thomson 1. With a technical double bottom pattern as a launchpad, gold continues to move solidly higher while global stock markets get smashed. What comes next for these key markets and what are the main factors at play?2. Please click here now. Double click to enlarge this daily gold chart.3. What began innocently as a bullish non-confirmation be...Read More
As a general rule, the most successful man in life is the man who has the best information By Richard (Rick) Mills The oil price is rising due to the upcoming restrictions on the sale of Iranian oil - the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration's decision in May to withdraw from the Iran nuclear agreement, known formally as t...Read More
WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday that it terminated a 2013 enforcement action against Royal Bank of Scotland Group (RBS.L) for sanctions lapses in its foreign operations.Between 2005 and 2009, the bank processed around $34 million in wire transfers that violated sanctions against Sudan, Iran, Cuba and Myanmar, the Treasury Department said in December 2013.The Fed sai...Read More
SPX continued losses. CPI slowed down. IMF cut its projection of global growth. What does it all imply for the gold market? Stock Market Turmoil Continues Let's start from the US stock market. In the last edition of the Gold News Monitor, we discussed the Wednesday's stock market turmoil. But the bear market continued later. On Thursday, the SPX extended its losses, declining about 2 percent....Read More
COLORADO SPRINGS, Oct. 16, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") reports preliminary production results for the third quarter ended September 30, 2018 of 6,411 ounces of gold, 321,590 ounces of silver and significant base metals. Gold Resource Corporation is a gold and silver producer, developer and explorer with operatio...Read More
By Avi GilburtI am certain of death. I am certain of taxes. And, I am certain of tax reform. (Sorry, that was an old tax attorney joke.)However, non-linear financial markets never lend themselves to certainty. Rather, the best we can do is look for clues that provide us with high-probability perspectives. That is what I use Elliott Wave analysis to do, in addition to supporting sentiment reading...Read More
Stock market bulls could catch a break if the retracement in Treasury yields continues for a while. The chart shows yields on the Ten-Year Note to have peaked last week at 3.25%. The correction has since hit 3.12% and could conceivably go lower. Although my rally target at 3.32% lies significantly above, that target comes from the weekly chart, and charts of lesser degree look maxed out for th...Read More