600 points. Dow plunged so much yesterday. The S&P 500 and Nasdaq also suffered. The persistence of losses is disturbing. Should, then, gold shine? Bears Are Back in Town The stock market sell-off continues. Yesterday, the Dow Jones Industrial Average dropped more than 600 points. It means that the index erased all of its 2018 gains, as one can see in the chart below. Similarly, the S&P 500 fe...Read More
By Avi Gilburt When we see a large market move occur which surprises you, what do you do? The first thing you likely do is go on the internet to read the financial news so that you can "understand" what just happened.And, what does the news present to you? Well, the news presents to you what the market did and what the "cause" of that move was based upon what hit the news wires that day. In oth...Read More
It may have felt like stocks were free-falling Wednesday, but for many of us who were short, making 'easy' money was like pulling teeth for most of the day. The broad averages jerked around for hours after falling hard in the early going. As the morning wore on, it felt at times as though DaBoyz were going to muscle shares back to unchanged. They failed at this, however, because shorts hung toug...Read More
COLORADO SPRINGS, Oct. 25, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of 1/6 of a cent per common share for October 2018 payable on November 23, 2018 to shareholders of record as of November 12, 2018. The Company is proud to note that this dividend marks the one hundredth consecutive mont...Read More
CloseGain/LossGold $1230.30-$2.30Silver$14.62-$0.05XAU64.72-4.86%HUI143.41-6.05%GDM529.19-4.34%JSE Gold1200.51-9.70USD96.63+0.26Euro113.75-0.23Yen89.02+0.02Oil$67.33+$0.5110-Year3.124%+0.020T-Bond138.65625-0.125Dow24984.55+1.63%Nasdaq7318.34+2.95%S&P2705.57+1.86% The Metals: Gold gained $6.50 to $1239.10 in Asia before it dropped back to $1230.40 at about 4AM EST and then...Read More
- Is Dublin's property market heading for a soft landing?- Increasing fears the latest housing boom could foreshadow another slump as reported in the Financial Times- 68 per cent of prime properties in Dublin 4 and 6 have cut prices- "I doubt it will be 'soft' ... My suspicion is that it'll hurt like hell..." warned Karl Deeter of Irish Mortgage BrokersExcerpt via FT:Over the past five year...Read More
Major Chinese steel mills raised their crude steel output slightly in early October.China Iron & Steel Association (Cisa) members produced crude steel at an average rate of 1.9874 million tonnes per day during the first 10 days of the month, up 0.13% from 1.9848 millon tonnes per day during the last 10...Read More
Buyers in the export market for pig iron from the Commonwealth of Independent States have been keeping an eye on the United States, the world's largest consumer of merchant pig iron.Fastmarkets' export price assessment for high-manganese pig iron from the CIS was $360-375 per tonne fob Black Sea on October 25, widening upward from $360-370 per tonne a week earlier.Once the price of hot-rolled coil...Read More
A hidden gem trading under a secret name could be the key to retirement riches.Picture the perfect stock for a moment.What would it look like?No doubt it would have hundreds of billions in revenue - more than tech giants like IBM, Facebook and Google.It would probably be a leader in cutting-edge technology like smartphones, robotics, e-commerce and medical equipment.It would have tens of thousands...Read More
Evidence of a looming financial crisis may be growing, according to Harry Dent.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and China's recent stock market decline - years before they happened - has issued a new earth-shattering statement:"The Dow is set to embark on a catastrophic plunge...all the way down to 6,000."Harry Dent recently explained: "Nations are...Read More
Trump may be facing an uphill battle he can't win in 2020.He's a successful businessman who never held public office before winning the Presidency...He's coming into power after an electoral college landslide...And he did it by beating an out-of-touch New Yorker opponent.Once in office, he launches a vast trade war, promising to stand up for America's heartland, with 890 increased tariffs in total...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday October 25, with continued strength in the US dollar index capping gains, while stronger earnings reports and a broadly positive European Central Bank outlook safeguarded commodity investments. Over the afternoon, the three-month nickel price largely under-performed amid slight downticks in aluminium and...Read More
Import prices for steel scrap in Turkey remained flat while rumors of bookings in the deep-sea market made by the country's steel producers were unconfirmed on Thursday October 25.Reports of two deep-sea cargo trades came to light but market participants were unable to confirm significant details.A steel mill in the Marmara region was reported to have booked a Baltic Sea cargo of...Read More
The latest news and price moves to start the Asian day on Friday October 26.Base metal prices on the London Metal Exchange were mostly lower at the close of trading on Thursday October 25 amid continued strength in the US dollar index, while stronger earnings reports and a broadly positive European Central Bank outlook safeguarded commodity investments. Read more in our live futures repo...Read More
The latest metal markets news and price moves to start the North American day on Thursday October 25.Base metals prices on the London Metal Exchange were mixed during morning trading on Thursday October 25, with bearish third-quarter earnings reports prompting sharp sell-offs in the Asian and European equity markets, while global trade tensions are deterring commodity investment.Edging lower over...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday October 25.Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Thursday after the dollar strengthened once more, with only lead prices rising due to continued supply tightness in China.Check Fastmarket MB's live futures report here. The...Read More
Barrick Gold's (TSX, NYSE:ABX) executive chairman John Thornton said Thursday the company could sell its non-core assets, particularly copper ones, as a result of the merger with Randgold Resources (LON:RRS), a deal which is expected to happen in the first three months of 2019.Barrick and Randgold will focus on Tier 1 assets which produce 500,000 ounces of gold annually, have a mine life of more...Read More
A month after announcing it had acquired full ownership of its Idaho-based Iron Creek project and eliminated its royalty, Canada's First Cobalt (TSX-V: FCC) released a video today aimed at selling high the product of its flagship asset."As federal agencies seek ways to reduce U.S dependency on foreign sources of cobalt, projects such as Iron Creek in mining-friendly Idaho support a strategy to red...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More
When the London Metal Exchange finished its 12-step warehouse reform package, it proved once more that you cannot please all of the people all of the time. It faced some inevitable criticism of the rules, in particular that the LME went too far in certain areas and should consider tweaking or rolling back some of its reforms. In particular, the focus of attention was on the load-in, load-out (LILO...Read More