If you watched either of the two debates among the Democratic presidential hopefuls last week or caught the recaps, you may have noticed something missing among the sound bites. There was very little talk about marijuana legalization. Maybe it was an oversight. Maybe they just didn't get to it. Maybe the moderators felt as though it wasn't an issue worth bringing up. Whatever the case, the fact...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The S&P 500 briefly hit 3,000 for the first time on Wednesday after remarks from Federal Reserve Chairman Jerome Powell suggested the Fed would cut interest rates at its meeting at the end of July. Shares of Levi Strauss (LEVI) fell after the jeans maker posted fiscal second-quarter adjusted earnings ahead of forecasts but indicated sale...Read More
Nickel closed around 2% higher on the London Metal Exchange on Wednesday July 10 after peaking at intraday high above $13,000 per tonne, its highest since April. The three-month price bottomed out at $12,710 per tonne before it reversed higher, breaking past key resistance levels to breach $13,000 per tonne. It closed just short of the mark at $12,990 per tonne. More than 10,000 lots of nickel cha...Read More
Bosnian aluminium smelter Aluminij Mostar has shut down after years of financial struggle. Market sources cited issues with the smelter's debt as causing the plant to shut. The smelter's power was cut off around midnight on Wednesday July 10, local media outlet Klix reported. Nermin D? 3/4 indic, federal minister of energy, mining and industry, told local media a request for the smelter's bankrupt...Read More
Tin premiums in Europe, North America and Asia were stable over the week to Tuesday July 9, with European market participants questioning a further downside move from its lowest level since November 2018, and US and Chinese premiums holding firm against lagging demand. Global premiums static in quiet trading conditions. European market remains at November 2018 low, with downside bias. ...Read More
Meanwhile US president Donald Trump has turned his attention to India, tweeting yesterday the country had "long had a field day putting tariffs on American products. No longer acceptable!"Market futures and mining stocks were mixed.Metals and mining stocks in Toronto fell 1.7% yesterday.However West African miner Avesoro Resources (TSX: ASO) has continued its recovery from a June low of C41.5c, wh...Read More
"We keep implementing our balanced sales strategy amid the backdrop of persisting excess diamond stock both at the cutting and polishing (midstream) sector and at retailers, as well as challenges related to financing of Indian midstream business," United Selling Organization ALROSA director Evgeny Agureev said."The market is gradually entering the phase of seasonally low demand for rough diamonds,...Read More
Peru has given Southern Copper the construction authorization it needed for the T?-a Mar?-a copper project to go ahead, the company and the Peruvian authorities said on Tuesday July 9.The mining company, which already has operations in Peru and in Mexico, has waited for eight years to get the permit for the project, which will exploit two deposits: La Tapada and T?-a Mar?-a. It is expected to prod...Read More
Central Asia Metals is well placed to hit its output targets for 2019, after meeting expectations for copper, zinc and lead output in the first half of the year, the company said on Wednesday July 10. During the six-month period, the company produced 6,594 tonnes of copper, 11,517 tonnes of zinc in concentrate and 14,357 tonnes of lead in concentrate, the company said. Central Asia Metals' guidanc...Read More
Copper-zinc miner Hudbay has appointed former Nevsun chief executive Peter Kukielski its interim chief executive officer after longstanding executive Alan Hair stood down from the post.Hair had been president and CEO of the company since 2016, having been at Hudbay for more than...Read More
- Ed SteerYESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMThe gold price was sold lower just a few minutes after trading began at 6:00 p.m. EDT on Sunday evening in New York. It began to recover about fifteen minutes later -- and managed to crawl higher...back above the $1,400 spot mark. The high tick was set a few minutes after the London open -- and it didn't do much from there until 'd...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
As reported this week, a blockade of the mine access roads was set up by locals, but the miner has since confirmed "local government units" prevented a large supply truck from accessing the mine siteRead More
Legendary investor Jim Sinclair and his business partner Bill Holter say Gold is going much higher. It's a mathematical certainty. Sinclair says, "You need to look at gold, not a speculation, but as a savings account. If the dollar gets sliced in half, you basically double the value (of your gold) if not more. I think much more. . . . In the second reset, that will take gold to a price where it...Read More
Stewart Thomson, Graceland Updates 1. While some gold stocks (the South Africans in particular) continue to rally, bullion and most miners are staging a classic pullback after a major upside breakout. 2. Please click here now. Double-click to enlarge this important monthly gold chart. The bottom line:3. Breakouts are fun. Pullbacks are not!4. My advice to investors:...Read More
The second half of the year is setting up favorably for the precious metals sector, which was led in the first half by gold and gold mining stocks.Of course, the Wall Street-beholden financial media is largely ignoring metals and mining - preferring instead to give celebratory coverage to every move toward new highs in the Dow and S&P 500."The Dow Jones Industrial Average rallied 7.2% this month...Read More
By: Ira EpsteinGold right at 18-DMA support, battleground. Completed leg to the downside, battle underway. Gold not overbought anymore:Read More
By Avi GilburtThere is an old adage that bulls get fat, bears get fat, but pigs get slaughtered. I guess that is another way of saying to not overstay your welcome on one side of the market and to know when to take profits.This is how I felt about bonds last week.But, before I explain, let me take a moment to recap our history and perspective on bonds. For those that followed our work over the y...Read More
Turkish steel producers paused their deep-sea scrap bookings again to take in the latest downturn in steel prices, sources told Fastmarkets on Wednesday July 10.After a steel mill in the Iskenderun region paid $288 per tonne cfr for UK-origin HMS 1&2 (80:20), on Tuesday July 9, the daily scrap indices went down by $14.78 per tonne.The drop was...Read More
(Updates with closing prices)By Peter HobsonLONDON, July 10 (Reuters) - Industrial metals prices rosesharply on Wednesday after U.S. and Chinese negotiators opened anew round of trade talks and Federal Reserve Chairman JeromePowell bolstered expectations of a U.S. interest rate cut laterthis month.Copper, aluminium, zinc, nickel and lead each gained morethan 1.5% on the London Metal Exchange (LME)...Read More