Since breaking above $1240, gold has gone back into churning mode. The fact that gold continues to make higherlows and is holding its support levels, we expect it to break out to theupside.The next level we expect to seeis $1,275 as gold looks prepared to go into an extended rally. All signs pointto gold breaking out, which could create an extended bull market. The metals ingeneral gave held up we...Read More
NEW YORK (Reuters) - The S&P 500 and the Dow Jones Industrial Average rose on Monday, as oil prices lifted energy stocks and defensive sectors such as utilities and real estate were in demand as investors were cautious about Iran sanctions and U.S. congressional elections.The energy sector .SPNY, which has lagged the broader S&P 500 .SPX this year, was up 1.6 percent after the United Sta...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Monday November 5, topped by a continued downturn in lead's three-month price while aluminium was the only metal to trade in positive territory.Despite reaching an intraday high of $2,002.50 per tonne, the three-month lead price closed nearer to its October low of $1,915 per tonne, with last week's...Read More
NEW YORK (Reuters) - Wall Street stock indexes mostly rose on Monday, the eve of U.S. midterm elections to determine whether President Donald Trump’s Republican party retains control of congress and also ahead of a meeting of Federal Reserve policy makers.Oil prices rose in choppy trading after five days of heavy losses as the United States imposed a range of sanctions aimed at curbing expor...Read More
NEW YORK (Reuters) - Goldman Sachs Group Inc (GS.N) has appointed investment bankers David Dubner and Pete Michelsen to be co-heads of activism and shareholder advisory for the Americas, the bank said on Monday in a memo.The new roles come at a time when public companies have been seeking help to better defend themselves against so-called activist investors, who often demand corporate changes rang...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More
NEW YORK (Reuters) - The dollar dipped on Monday after three consecutive weeks of gains as investors took profits before U.S. midterm elections this week that may fuel volatility in global markets, and the British pound led gains on Brexit deal breakthrough hopes.The U.S. midterm congressional elections on Tuesday are expected to help the Democratic Party win control of the U.S. House of Represent...Read More
Easing supply tightness in the alumina market continues to put significant pressure on the fob Australia alumina index and traders expect prices to fall even further before the end of the year. The benchmark fob Australia daily alumina index has fallen back below $450 per tonne for the first time since June 2018. It was most recently assessed on Friday November 5 at $442.50 per tonne. Traders...Read More
NEW YORK (Reuters) - Cogni Inc, a New York-based digital banking start-up that wants to hold deposits for consumers and book their hotels, flights and movie tickets, recently closed a $1.7 million seed funding round as it prepares to launch.The two-year old company, which is 2 percent owned by Barclays Plc, has also hired a boutique merchant bank to advise its Series A funding, which is typically...Read More
(Kitco News)- Goldinvestors are keeping a low profile ahead of Tuesday's U.S. mid-term election,as the market sees little reaction to strong positive sentiment in the U.S.service sector according to the latest data from the Institute of SupplyManagement (ISM).Monday,the ISM said its Non-Manufacturing Purchasing Managers' Index showed a readingof 60.3% in October, down slightly from September's rea...Read More
I'm already fatigued and disgusted with Christmas promotions. They're everywhere now, including every other ad on television. I've come to loathe the holiday season because of the extreme materialism and consumerism into which it has degenerated.That said, Wall Street has overlooked or ignored an interesting aspect reflected in Amazon.com's Q3 earnings circus. Amazon is now desperate to gene...Read More
Australian lithium spodumene producer Altura Mining shipped about 10,000 tonnes of lithium spodumene from Port Hedland in Western Australia to China in October 2018, the company has said.Altura announced on October 31 that it had despatched two cargoes each of around 5,000 tonnes of lithium spodumene to China, on October 9 and October 20. The material came from the company's Pilgangoora lithium mi...Read More
(Kitco News) - The gold market has erased moderate early losses and istrading slightly up in late-morning action Monday. The yellow metal saw somebuying interest develop as the U.S. dollar index has dropped to its sessionlow. December gold was last up $1.40 an ounce at $1,234.70. By Jim Wyckoff For Kitco NewsFollow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this...Read More
(Reuters) - The S&P 500 and the Dow Jones Industrial Average rose on Monday, supported by gains in energy stocks and strong results from Berkshire Hathaway Inc, while the Nasdaq was dragged down by a 3 percent drop in Apple Inc shares.The iPhone maker’s shares (AAPL.O) were on track for their worst two-day decline since January 2013, after the Nikkei reported that the company had told sm...Read More
Australian lithium spodumene miner Neometals reported that it had achieved slightly higher production volumes in the July-September quarter in a results statement published on Wednesday October 31.Neometals increased its output by about 1.68%, producing 111,023 tonnes of lithium spodumene in the quarter, compared with 109,183 tonnes produced in April-June.Output of higher-grade lithium spodumene (...Read More
Polls suggest Congress may be split after Tuesday’s midterm elections,but then a “split Congress is the favored outcome for markets,” says BrownBrothers Harriman. Analysts note that the popular 538 Website shows Democrats have a sixin seven (85.2%) chance of winning control of the House of Representatives,while Republicans have a five in six (84.2%) chance of keeping the Senate.&...Read More
Easing supply tightness in the alumina market continues to put significant pressure on the fob Australia alumina index and traders expect prices to fall even further before the end of the year. The benchmark fob Australia daily alumina index has fallen back below $450 per tonne for the first time since June 2018. It was most recently assessed on Friday November 5 at $442.50 per tonne. Traders...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday that China has hurt the United States economically but was ready to make a deal on trade and he was open to a fair agreement.“We’ve tariffed $250 billion, taxed them, of their product coming into the United States and we have plenty more to go, but they want to make a deal and if we can make the right deal, a deal that&r...Read More
WASHINGTON (Reuters) - The United States reimposes oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East.The move will restore U.S. sanctions that were lifted under a 2015 nuclear deal negotiated by the administration of Preside...Read More
Fastmarkets launched its China cobalt sulfate price in May 2018, with historical data dated back to March, tracking the price of this key electric vehicle battery material. Read More