COMEX FUTURES REPORT - Happy Kali PujaGold and silver should break free from the recent consolidation phase and form a new range. Copper and crude oil will be very volatile. I prefer to stay away from intraday trades in crude oil. No one knows what will be the effect on crude prices due to Iran sanctions. Risk traders should invest in crude oil for the year end with a stop loss below $58.30. T...Read More
(Kitco News) - Gold pricesare moderately higher in early U.S. trading Tuesday, supported in part by theU.S. dollar index backing down from the 16-month high scored last week. Lookfor a quieter trading session in the metals and in many other markets, astraders and investors await the outcome of the U.S. mid-term elections. Decembergold futures were last up $3.70 an ounce at $1,236.00. December Com...Read More
SAN FRANCISCO (Reuters) - U.S. President Donald Trump has taken credit for the stock market’s gains during his nearly two years in the White House, and those claims are reasonable given the impact of tax cuts and pro-business policies on investor sentiment.The S&P 500 has risen 28 percent since Trump’s election in November 2016 to the eve of congressional midterm elections on Tuesd...Read More
The Turkish steel mills have resumed their deep-sea scrap purchases for December deliveries with prices remaining strong in the latest transaction, sources said on Tuesday November 6.A steel mill in the Marmara region booked a European cargo late on November 5, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and plate and structural sc...Read More
WASHINGTON (Reuters) - After a divisive campaign marked by fierce clashes over race, immigration and other cultural issues, Americans began casting votes early on Tuesday to determine the balance of power in the U.S. Congress and shape the future of Donald Trump’s presidency.The first national elections since Trump captured the White House in a stunning 2016 upset will be a referendum on the...Read More
Drill core from the Currie Project in Ontario. Source Prosper Gold Corp.Prosper Gold Corp. [PGX-TSXV] has released impressive results from drilling at its Currie Project southwest of Matheson, Ontario.Investors reacted by sending Prosper shares to a high of 14 cents Tuesday November 6 on volume of almost 1.4 million shares traded. In early afternoon trading, the stock had slipped back to 12 cents...Read More
The Tuesday Market Minute Global stocks steady on the final day of trading before U.S. midterm elections, with a stronger U.S. dollar and modestly higher interest rates holding down gains.Asia stocks gain, despite weaker tech stocks following last night's Apple sell-off, with Japan posting a solid 1.1% advance while China shares slipped modestly into the red.Oil prices continue to slide, ex...Read More
Underground mining operations at the Kamoto Mine, DRC. Source: Katanga Mining Ltd.Glencore AG's [GLEN-LSE] Katanga Mining Ltd. [KAT-TSX] said Tuesday November 6 that it will temporarily suspend the export and sale of cobalt produced from its 75%-owned Kamoto Copper Co. project in the Democratic Republic of Congo (DRC) until further notice.Its partner in the project is Gecamines, a state-owned mini...Read More
LONDON (Reuters) - European shares sagged and the dollar and bond markets barely budged on Tuesday, as traders braced for midterm elections in the United States and potentially lively sessions ahead.Japan [.T] and Hong Kong had helped Asia overcome another Chinese wobble [.SS], but Europe [.EU] was in the 0.4 percent red as investors pounced on corporate earnings misses and pre-market caution drag...Read More
(Reuters) - U.S. stocks were on track to open slightly lower on Tuesday, as investors awaited the outcome of U.S. midterm elections that could shape the future of Donald Trump’s presidency and test his tax and trade policies.The cautious mood set in as investors broadly braced for opposition Democrats to take over the House of Representatives and Trump’s Republican Party to retain the...Read More
The Comex copper price staged a modest recovery in the US morning on Tuesday November 6 amid a softening dollar and speculative buying. The copper price for December settlement on the Comex division of the New York Mercantile Exchange recovered 0.35 cents to $2.7595 per lb. Industrial metal markets continue to look at the trade dispute between the United States and...Read More
SASKATOON - The head of Nutrien Ltd. says the company has enough room for potash expansion in Saskatchewan that it doesn't make sense to invest in expanding production in costlier regions.Chief executive Chuck Magro made the remarks on conference call with financial analysts Tuesday after taking a writedown due to the permanent closure of its potash mine in New Brunswick."The decision is pretty ob...Read More
BEIJING (Reuters) - China will push for larger tax cuts, Premier Li Keqiang said on Tuesday, adding that it would help small firms facing funding difficulties and widen access for private firms in infrastructure.China will not resort to competitive currency devaluation and is able to keep its yuan currency basically stable, Li added, reiterating that it would not resort to forceful stimulus to pro...Read More
Since Obama said he would put coal companies out of business, Wall Street has ignored coal producing, making it the most undervalued sector in the market.It's true, coal production did go down for four years, but since Trump was put in office, that has turned around. Don't get me wrong; the U.S. isn't burning more coal - it's exporting it, both to China to replace low-quality coal and to Germany,...Read More
By Ernest ScheyderNov 6 (Reuters) - A years-long fight over the future of theworld's second largest silver mine between Tahoe Resources Inc and opponents of the project shows no signs of abating,creating uncertainty for the U.S. miner and its investors.With environmental and indigenous opponents of Tahoe'sEscobal mine vowing it will never again produce silver, thetension is top of mind for Wall St...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
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
* Stock markets, dollar little changed * SPDR holdings fell on Monday (Updates prices)By Sumita LayekBENGALURU, Nov 6 (Reuters) - Gold edged up on Tuesday asinvestors sought shelter fromuncertainty over the outcome ofthe U.S. midterm elections.Spot gold rose 0.3 percent to $1,234.94 per ounce asof 1314 GMT, while U.S. gold futures were up 0.4 percentat $1,236.50."One scenario (from the electi...Read More
(Updates with production, Barrick vote)LONDON, Nov 6 (Reuters) - Randgold Resources said onTuesday third-quarter profit rose 25 percent on the previousquarter helped by lower costs a day before its shareholders voteon a $6.1 billion tie-up with Barrick Gold.The London-listed miner said profit for the period reached$73.2 million while cash costs fell 18 percent versus theprevious quarter to $181.6...Read More
TORONTO (Reuters) - If all goes according to plan, Barrick Gold (ABX.TO) will have fewer mines and workers one year after acquiring Africa-focused Randgold Resources (RRS.L), the Canadian miner’s executive chairman said on Monday, as its investors approved the deal.Votes were 99.8 percent in favor of the $6.1 billion, no-premium transaction, Barrick said, confirming a Reuters report. After R...Read More