By: Ira EpsteinGold remains in this congestion zone. Will it breakout? Fighting a battle..Read More
COLORADO SPRINGS, July 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") reports preliminary production results for the second quarter ended June 30, 2019 of 9,559 ounces of gold, 467,484 ounces of silver and significant base metals. The Company currently maintains its 2019 Oaxaca Mining Unit production outlook and plans to increas...Read More
Expected interest rate cuts by all the central banks is supporting gold at the moment. European central bank is expected to cut interest rates in September. Trade war theme is still there. In short, all the factors are bullish for gold. Investment demand is on the rise with passing of each week. Economic growth news will be the key. Measures (other than interest rate or different forms of quan...Read More
The Turkish steel mills have broken their recent silence in the deep-sea scrap markets and have accepted higher prices, sources said on Thursday July 18.Despite the falling prices for finished and semi-finished long steel, the Turkish mills agreed to pay higher prices for scrap because of their requirements for August-shipment cargoes.A steel mill in the Marmara region booked a Baltic Sea cargo la...Read More
Put buyers are swooping in on CLF ahead of earningsCleveland-Cliffs Inc (NYSE:CLF) will report earnings ahead of the open tomorrow, July 19. The mining name is coming off back-to-back positive earnings reactions -- with the stock jumping 2.3% and 8.5% the day after the firm's April and February reports, respectively -- but today's options traders are betting against the trend.At last check, 2,563...Read More
AMD stock has roughly doubled over the past 12 monthsTechnology powerhouse Advanced Micro Devices, Inc. (NASDAQ:AMD) is down 2% at $32.92 this morning, after Mizuho downgraded the chip stock to "neutral" from "buy." The firm did hike its price target to $37 from $33, but stated that it's moving to the sidelines due to pricing pressure from rival Intel (INTC), as well as the stock being past its f...Read More
UnitedHealth reported second-quarter earnings and revenue that beat estimatesDow component UnitedHealth Group Inc (NYSE:UNH) islower this morning, despite reporting second-quarter earnings and revenuethat exceeded analysts' expectations. The healthcare concern also upped itsfull-year profit forecast, but the company's CFO predicted 2019 revenue that comes in "at or just slightly below" the previou...Read More
This analyst predicts a major market moving event happening as soon as August 13.After nearly 27-years studying the stock market as a hedge fund manager, broker, and analyst, onesenior analyst thought he was prepared for everything Mr. Market threw his way.But last December he got word of a huge market event that's now less than 60 days away.He sent an urgent note to over 75,000 people who, over...Read More
A simple way to stop picking losers, and start cashing in like Wall Street's elite.Most traders would never believe that 9 out of 10 trades could be winners.But while it may sound impossible, thanks to a research breakthrough, it may not be as far-fetched as many think.JPMorgan's trading desk produced a 99.52% win rate from 2013 through 2017. That includes 2 straight years without a losing day....Read More
Here are five Fastmarkets MB stories you might have missed on Thursday July 18 that are worth another look.Hong Kong Exchanges & Clearing will launch US dollar-denominated London Metal Mini Futures for six base metals starting Monday August 5, the exchange said recently. Nickel's three-month price on the London Metal Exchange continued its rally throughout afternoon trading on Thursday J...Read More
The shares are down 44% year-to-dateH.C. Wainwright initiated coverage on Outlook Therapeutics Inc (NASDAQ:OTLK) with a "buy" rating and an $8 price target -- a 310% premium to last night's close. The brokerage firm said it expects the company to receive regulatory approval by 2022 for its drug candidate ONS-5010, which is currently being tested in late-stage trials to treat patients with wet age-...Read More
The best part? It's risk-free. In an explosive report a former Lehman Brothers executive reveals one of Wall Street's most closely guarded investing secrets.The secret?A proven system for turning small sums of cash into vast windfalls of profits-without risking a penny in the stock market.Essentially, this system uses the latest advances in computer science and financial technology to give inve...Read More
NFLX is set to nosedive on a surprise drop in subscribers Dow Jones Industrial Average (DJI) futures are signaling their third day in the red, with UnitedHealth Group (UNH) and IBM (IBM) stocks lower after earnings. Nasdaq-100 Index (NDX) futures are also lower, with FAANG concern Netflix (NFLX) set to nosedive on a surprise drop in second-quarter subscriber rates and sluggish international member...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
The London Metal Exchange has just finished its trial to calculate nickel prices using a volume weighted average price (VWAP) method on the exchange's electronic trading platform. If early indications are anything to go by, metals market participants did not embrace this method of price discovery in the way some had anticipated. For three months since Monday March 18, closing prices for nickel car...Read More
The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Wilbur Ross said the US Midwest aluminium premium is at inflated levels that do not justify the cost of transportation and logistical handling costs that it was originally designed to reflect. His view is being echoed by a number of...Read More
Nickel's three-month price on the London Metal Exchange continued its rally throughout afternoon trading on Thursday July 18, closing just below $15,000 per tonne amid a continued flurry of technical buying and a seven-year low in LME stocks. Nickel's three-month price on the LME closed at $14,850 per tonne, climbing over 5% from an intraday low of $14,300 per tonne to trade at an intraday high of...Read More
Hong Kong Exchanges & Clearing (HKEX) will launch US dollar-denominated London Metal Mini Futures for six base metals starting August 5, the exchange said recently. The company, which has wholly owned the London Metal Exchange since 2012, said that the new Hong Kong-listed contracts will be available for aluminium, zinc, copper, nickel, tin and lead. The move is the latest attempt from HKEX and th...Read More
Optimism among China's hot-rolled coil exporters led to them resisting the pressure to lower their prices on Thursday July 18 despite a retreat in the domestic market.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,840-3,860 yuan per tonne, widening downward by 10 yuan per tonneSpot prices weakened across the country with t...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More