Technical analyst Clive Maund discusses the factors he sees weighing on precious metals in the near term. The precious metals sector is now set up for a correction that could be quite severe, which is evident on the charts, but also made more likely by the fundamentals where we see a return to "risk on" as a result of ongoing massive money injection by the Fed coupled with this being a seasonally...Read More
Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, discuss movements in the gold markets since the onset of the coronavirus pandemic. In mid-January, 2020, COMEX open interest (OI) set a new record of nearly 800,000 contracts. Swap dealers as usual supplied the market by going short 205,679 contracts on January 14, also a record. They probably expected to reduce their risk by purchasing ph...Read More
Greg Johnson, chairman and CEO of Metallic Minerals, talks with Maurice Jackson of Proven and Probable, about the Metallic Minerals' drill results, as high as 7,459 g/t silver, at the Keno Silver Project in the Yukon. Maurice Jackson: Joining us for our conversation today is Greg Johnson, of the Metallic Group of Companies. here to discuss some exciting updates that are occurring simultaneously a...Read More
The new company, Reyna Silver, holds projects in prolific mining districts that have been spun out from MAG Silver. Reyna Silver Corp. (RSLV:TSX.V) will complete a reverse takeover (RTO) with Century Metals Inc. and begin trading on Monday, June 8, on the TSX Venture Exchange, under the symbol RSLV.The explorer holds several properties, most notably the flagship Guigui as well as Batopilas, both...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9. The prices affected:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS export rebar $ per ton...Read More
International trade protection measures continued to loom large over global steel markets over the past year - to which the impacts of the Covid-19 pandemic have created further challenges. Alongside Fastmarkets' annual ranking of steelmakers by output, our correspondents around the world review developments in their regional steel sectors Right now, most steelmakers will have much more on their m...Read More
China's rebar prices moved up in both the domestic and export markets on Monday June 8 amid rising concerns over iron ore supply from Brazil's Vale.Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($512-516) per tonne, up by 30 yuan per tonneSpot rebar prices built on the early-hour gains of rebar and iron ore futures in response to news of Vale's Itabira mining operations being suspended towar...Read More
The Nasdaq hit another record highThe National Bureau of Economic Research (NBER) officially announced the U.S. entered a recession in February, resulting in the worst downturn since the Great Depression. The downturn ended a 128-month expansion, the longest in post-World War II history. Despite this grim news, stocks continued higher, as optimism over the reopening economy, particularly airline...Read More
AMC is set to report earnings after the close tomorrowAMC Entertainment Holdings Inc. (NYSE:AMC) will take its turn in the earnings confessional after the close tomorrow, June 9, posting its first-quarter results. The stock is getting a broad-market boost ahead of the event, up 8.8% to trade at $6.42 at last check, set to close atop the 150-day moving average for the first time in over a year. Sin...Read More
Plus, Cloudflare options are affordably priced at the momentThe shares of Cloudflare Inc (NYSE:NET) are down 1.1% to trade at $29.10 at last check, taking an extended breather from their May 15 all-time high of $30.78. In fact, NET has taken a 3.7% haircut in the last five trading days. The good news is that this pullback has brought the I.T. stock within a historically bullish trendline.Accordin...Read More
Calls are booming for the popular space tourism stockListed below are 20 stocks that have attracted the highest weekly options volume over the last 10 trading days thanks to data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White -- who also highlighted new entrants in yellow. Standing out this week is Virgin Galactic Holdings Inc (NYSE:SPCE), a company that investors have kept a cl...Read More
The Dow is up over 290 points middayStock's are extending their morning gains into midday, looking to piggyback off of last week's wild rally. The Dow JonesIndustrial Average (DJI) is up over 290 points, while the S&P500 Index (SPX) and Nasdaq Composite (IXIC) are also trading well above breakeven at the halfway point. Optimism over the economy's reopening remains strong, with airline and ret...Read More
MIK received a price-target hike from Credit Suisse, tooThe shares of craft retailer Michaels Companies Inc (NASDAQ:MIK) are up 35.9% at $7.49 at last check --one of the best stocks on the New York Stock Exchange (NYSE) so far today -- fighting further out of the penny stock range. Today's rise comes after J.P. Morgan added MIK to its analyst focus list, upgrading it to "overweight" from "neutral...Read More
Mark Zuckerberg said he would explore ideas to advance racial justice and voter engagement on the platformThe shares of Facebook, Inc. (NASDAQ: FB) are down 0.05% at $229.62 this morning, after CEO Mark Zuckerberg announced on Friday he would review the social platform's content policies and explore ideas to advance racial justice and voter engagement. Until then, Zuckerberg had maintained he woul...Read More
Thor Industries' third-quarter profits and revenue were better than Wall Street expectedThor Industries, Inc. (NYSE:THO) stepped up to the earnings plate this morning and knocked it out of the park, reporting fiscal third-quarter profits of 43 cents on revenue of $1.68 billion, both of which came in higher than Wall Street's estimates. Additionally, the recreational vehicle manufacturer said it w...Read More
The equity hit a record high atop the $331 level last weekApple Inc. (NASDAQ:AAPL) stock is taking a step back from Friday's all-time highs atop the $331 level, off 0.2% at $330.70 at last check. This move comes amid news that users of the tech giant's Apple Card will soon be able to pay for some of its products, including iPads and AirPods, in monthly, interest-free increments. Users with an Appl...Read More
Dow futures are up over 200 points this morningFutures on the Dow Jones Industrial Average (DJI) are up over 200 points above fair value this morning, bolstered by continued economic reopenings across the U.S. S&P 500 Index (SPX) futures are inching higherwhile Nasdaq-100 Index (NDX) futures struggle for direction, as optimism carries over from Friday's record-breaking highs in the wake of an u...Read More
The gold miners’ stocksjust rolled over into a correction, raising concerns about the staying power oftheir massive post-panic upleg. Thesehigher prevailing gold prices have driven very-strong fundamentals at the goldminers. But they are entering the seasonally-weaksummer doldrums. And current sentimentand technicals play major roles in governing when uplegs remain healthy...Read More
As Great Lockdown was positive for the gold prices, the Great Unlock will be bad, right? We invite you to read our today’s article about the Great Unlock and find out whether it really must be negative for the gold prices. It’s all government’s fault, right? After all, the Great Lockdown was introduced by the federal and state governments introduced, wasn’t? Well, not quite...Read More
The NFTRH plan is and has been that the gold mining sector, due to the fundamentals implied by the handy graphic below, could eventually lead a world full of inflatables higher. The miners, leveraging gold’s out performance to most everything else during liquidity crises and even deflation, move first and draw in the inflationist bugs later. If the macro goes inflationary the miners will lik...Read More