Mar 28, 2019 Guest(s): Edward Egilinsky Managing Director, Head of Alternative Investments, Direxion While palladium has been seeing a recent run-up in prices, gold should see renewed favor from investors owing to a shift in monetary policy, said Edward Egilinsky, managing director and head of Alternative Investments at Direxion. "If you're looking for a flight to safety, treasuries might be uti...Read More
Please click here now. Double-click to enlarge this long-term gold chart. Fundamental and technical analysis are both strongly supporting gold's rally towards the key $1400 area.Having said that, COMEX price action mainly reflects action in the physical market and this is the weak season for gold.Investors need patience. News in the West that "should" push gold $100/ounce higher is in play...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended up Thursday as investors responded positively to progress in the U.S.-China trade talks. Lululemon Athletic (LULU) soared 14% after the sports apparel group posted solid fourth-quarter earnings. Five Below (FIVE) climbed 8.2% after posting stronger-than-expected fourth-quarter earnings.Wall S...Read More
Base metals prices on the London Metal Exchange were broadly range-bound at the close of trading on Thursday March 28, with continued strength in the dollar deterring commodity investment while weaker-than-expected gross domestic product (GDP) figures from the United States continued to indicate economic contraction.Nickel's three-month price was the biggest downward mover of the day, closing once...Read More
Prices in the US copper market continued to push upward on Thursday March 28, with macroeconomic data outweighing recent growth in market participants' bearish speculative positioning.The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched up by 1.15 cents to $2.8745 per lb on Thursday.On the technical side, the net speculative length has declined marke...Read More
Robin Scheiner will lead a merged aluminium-alumina department at Glencore following the departure of David Streule, sources close to the matter told Fastmarkets. "Change will take place in the coming weeks or months," a source close to the matter said, while two sources said Streule will be departing by the end of June.Streule will leave Glencore...Read More
Gold was smacked $22 from top to bottom overnight and this morning. It was a classic paper derivative raid on the gold price, which was implemented after the large physical gold buyers in the eastern hemisphere had closed shop for the day. This is what it looks like visually:As you can see, as each key physical gold trading/delivery market closes, the price of gold is taken lower. The coup de...Read More
The extreme weather that hit Australia over the past week will cause some delays but should have no impact on total deliveries of manganese ore for April, according to producers that mine high-grade material in areas affected by the cyclones. Consolidated Minerals, which owns the high-grade manganese ore Woodie Woodie mine in Western Australia via its Pilbera Manganese subsidiary, said Cyclone Ver...Read More
Robin Scheiner will lead a merged aluminium-alumina department at Glencore following the departure of David Streule, sources close to the matter told Fastmarkets. "Change will take place in the coming weeks or months," a source close to the matter said, while two sources said Streule will be departing by the end of June.Streule will leave Glencore...Read More
Market participants expect alumina prices to plummet upon any future announcement that Hydro's alumina refinery, Alunorte, can return to full capacity, but agree the scheduled court date does not provide any further clarity. Alunorte, the largest alumina refinery in the world, has been running at only 50% of its production capacity since March 2018 because of restrictions imposed by authorities in...Read More
Vancouver, BC - Quadron Cannatech Corporation (CSE:QCC) (the "Company" or "Quadron"), is pleased to announce that it has entered into a letter of intent with Puriflor Enterprise Inc. ("Puriflor") regarding Puriflor's acquisition of an extraction and processing facility, and the formation of a joint venture between Quadron and Puriflor, whereby Quadron will acquire a one third interest in the Pu...Read More
The syndicate of underwriters, led by Haywood Securities, have agreed to buy shares at 36c each, with a 15% overallotment option.Read More
Turkish steel mills made no new bookings in the deep-sea scrap market on Thursday March 28, but more transactions made last week were revealed, sources said on Thursday March 28.News of three deep-sea cargoes from last week came to light on Thursday.A steel producer in the Iskenderun region booked a US cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $320 per tonne, 5,000 tonnes of shredded a...Read More
By: IRA EPSTEINGold at a very critical area, overbought and momentum pointing lower -- $1287-1289 area support...Read More
(Updates with closing prices)By Peter HobsonLONDON, March 28 (Reuters) - Copper prices rose on Thursdayas the threat of disruption at a mine in Peru underlined fearsthat the market is undersupplied, while investors waited fornews from U.S.-China trade talks starting in Beijing.Benchmark copper on the London Metal Exchange (LME)did not trade but was bid 0.4 percent higher at $6,360 a tonneat the cl...Read More
London Metal Exchange three-month base metals prices continue to produce sluggish price action, down 0.2% on average in the morning of Thursday March 28. Copper bucked the trend with a mild gain of 0.1% while aluminium was unchanged at $1,903 per tonne. But LME zinc and lead prices were down 0.1% while nickel and tin were down 0.5%. Trading volume was fairly subdued at 4,325 lots as of 6:48am Lond...Read More
(Recasts, updates prices)By Saikat Chatterjee and Tom FinnLONDON, March 28 (Reuters) - Sterling sank to a one-week lowon Thursday as the prospects for a swift agreement on Brexitfaded with the British parliament failing to agree on a wayforward.The pound struggled against a resurgent dollar and tookanother leg down after a British government source said that aso-called "meaningful" vote...Read More
Drilling at the Sikasso property in southern Mali, West Africa. Source: Compass Gold Corp.Compass Gold Corp. [CVB-TSXV; COGDD-OTC] shares skyrocketed Thursday March 28 after the company said drilling on the company's Sikasso property in southern Mali, West Africa, has intersected high-grade gold mineralization.Investors reacted by sending Compass shares up 500% or 57.5 cents, to 69 cents on active...Read More
The Greenstone Gold Mines Hardrock Project in northern Ontario. Source: Premier Gold Mines Ltd.Centerra Gold Inc. [CG-TSX; CAGDF-OTC] and Premier Gold Mines Ltd. [PG-TSX; PIRGF-OTC] said Thursday March 28 that the environmental assessment for the Greenstone Gold Mines Hardrock Project in Ontario was approved by the provincial government on March 26, 2019.Their aim is to develop an open pit mine th...Read More
Ontario's Government for the people is protecting what matters most, stimulating economic growth and creating jobs in the City of Kenora by investing in a local microbrewery and a chocolate manufacturing company.Today, Greg Rickford, Minister of Energy, Northern Development and Mines, was at Lake of the Woods Brewing Company to announce the company is receiving $1 million to expand its current bre...Read More