MUMBAI/BENGALURU - Gold demand in India improved this week due to a fall in local prices, while some investors in other major Asian centres sold the metal back to make use of relatively higher prices while delaying purchases on expectations of a further correction."Jewellers are buying in a phased manner as prices have corrected. They are expecting an improvement in retail demand in coming weeks,"...Read More
By various gauges ofvalue, the gold and gold mining sector is the most undervalued of all theinvestment sectors; that should change shortly. if we judge by the lack ofresearch coverage of gold companies we might conclude that there is littleinterest, but don't be fooled. Our analysis suggests that we are seeing one of the best opportunities ever...Read More
The Critical Investor profiles a hybrid prospect generator with projects throughout the Americas. Haldane Project1. IntroductionAlianza Minerals Ltd. (ANZ:TSX.V) is the second hybrid prospect generator I am discussing in a short period of time, after closely related Avrupa Minerals (AVU.V). Both companies are guided by Pacific Opportunity Capital, a Vancouver financial consulting and merchant ban...Read More
In contrast to the clear skies outside, a cloud hung over discussions among Indian scrap traders attending the opening session of the annual conference of the Material Recycling Association of India (MRAI) earlier this month in Kochi, southern India.Secretary-general Amar Singh praised the superior air quality in the host city, compared with the metropolises of New Delhi and Mumbai. But delegates...Read More
The Mexican government has decided to renew a 15% safeguarding duty on imports of steel from countries with which it does not have free trade agreements.The safeguard is expected to be signed this week, and it will be valid for another six months, according to the country's economy secretariat.It will apply also on imports of products...Read More
Major Vietnamese integrated steel producer Formosa Ha Tinh Steel has increased its new hot-rolled coil offers by $40 per tonne for April-delivery and shipment cargoes due to the recent increases in raw materials costs.The producer's SAE1006 HRC is now on offer at $535 per tonne on a cif basis, up $40 per tonne from $495 per tonne cif for iMarch-shipment materials. And its SS400 and pipemaking...Read More
The S&P topped the key 2,800 levelStocks kicked off March on a high note, as traders cheered positive U.S.-China trade headlines. However, a round of dreary economic data, including weak readings on consumer sentiment and U.S. manufacturing -- the latter of which showed factory activity slowed to a level not seen since November 2016 -- kept a lid on gains, as the Dow, S&P 500, and Nasdaq all close...Read More
However, a rare VIX alarm just signaled a potential volatility spikeThe Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are attempting to salvage weekly gains, after finishing February comfortably higher. In addition, the Nasdaq Composite (IXIC) is pacing for a whopping 10th straight weekly win, after a week chock-full of headlines from both Wall Street and Washington, D.C. Specificall...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 254,086108,43953,521146,161312,638453,768474,598 Change from Prior Reporting Period 39,916-857133-13,51526,85126,53426,127 Traders 21872684755291173 Small Speculators LongShortOpen Interest 50,87130,041504,639 2,0222,42928,556 non reportable positionsChan...Read More
By: IRA EPSTEINBig volatility can create no volatility for a while, everyone worn out. Gold in a correction phase, nothing bearish looking on the weekly chart.Read More
GATA's Sheer Ignorance About GoldAs I have said before, my job on FATrader.com is to further intellectual honesty about financial markets but cutting through much of the dross being presented by most analysts and media outlets.So, as I am known to do, I will peruse the various posting through the interest for something interesting and then write about it.And, while I cannot say what GATA writes is...Read More
Wall Street is also digesting a key inflation updateDow Jones Industrial Average (DJI) futures are signaling a strong start to March, last seen more than 170 points above fair value on fresh U.S.-China trade optimism. A Bloomberg report indicated officials from the two countries are preparing a trade agreement for President Donald Trump and Chinese President Xi Jinping to potentially sign by mid-...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday March 1. China The domestic ferro-chrome spot price rose to 6,850-7,100 yuan per tonne from 6,750-6,950 yuan per tonne a week before after domestic suppliers lifted their prices following Tsingshan's announcement that it had raised its tender price by 100 yuan per tonne on February 25. The news broa...Read More
Wall Street is selling Tesla's newsThe Dow is enjoying solid gainstoday, while the Nasdaq eyes yet another weekly win. But it's not all sunshine and rainbows, as grocery stock Kroger Co (NYSE:KR), biotech ImmunoGen, Inc. (NASDAQ:IMGN), and electric car concern Tesla Inc (NASDAQ:TSLA) are all sharply lower. Here's a quick look at what's got the shares of KR, IMGN, and TSLA struggling today.Options...Read More
The March 57.50 call and put are BMY's most active options todayIt's been a volatile stretch for Bristol-Myers Squibb Co (NYSE:BMY), per the stock's 60-day historical volatility of 40.5%, which registers in the 90th annual percentile. Today, one options trader appears to be initiating a long straddle, betting on this wild price action to continue in the near term.Most recently, roughly 150,000 cal...Read More
Jefferies reiterated its Street-high CPRI price target earlierCapri Holdings Ltd (NYSE:CPRI) stock is hot today, after Jefferies added the Michael Kors parent to its "Franchise Picks" list. The brokerage firm said it believes the shares could double -- and reiterated its Street-high $89 price target -- on strong long-term pricing power from the retailer's Jimmy Choo and Versace brands. At last che...Read More
Steel slab export prices from Brazil inched up in the week ended Friday March 1 because of lower volumes available and an uptrend in steel prices in the United States.Fastmarkets' weekly assessment of Brazilian slab export prices reached $500-540 per tonne fob on March 1, up from $490-530 per tonne fob a week earlier.The assessment was at its highest level since September 7, 2018, when prices were...Read More
The time to invest is now, according to one economist.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and oil's shocking fall in 2016 - years before they happened - has issued a new earth-shattering statement:"Right now, the markets are giving investors a critical window to rapidly boost their retirement savings before the greatest stock market crash in American his...Read More
Domestic prices for rebar in Poland have been supported by strong demand this week, sources told Fastmarkets on Friday March 1.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,200-2,320 zloty ($581-613) per tonne ex-works on March 1, compared with 2,220-2,320 zloty per tonne ex-works a week earlier.The assessment reflected deals and offers heard in the market. Alth...Read More
ALLY just pulled back to a historically bullish trendline Ally Financial Inc (NYSE:ALLY) stock has been in rally mode of late -- up roughly 30% from its Dec. 26 low of $20.61. The consumer lending concern is now directly below its year-over-year breakeven and testing a familiar ceiling at the $27.50 area. However, ALLY just sent up a bullish signal that, if history is any indicator, could point t...Read More