Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Russia's Polymetal said today that its Board has approved a US$ 447 million investment in the 4.0 Moz Veduga gold project, a high-grade refractory gold deposit located in a prolific Northern Yenisey go...Read More
Bob Moriarty ArchivesNov 8, 2021The general stock market is about to crash. In the last forty years theS&P has never gone up sixteen out of eighteen days.Never. It is the most overbought in history and when it tumbles you will be able to hear it on Mars.Gold is the anti-Tesla, anti-Bitcon, anti-S&P investment. As long as they went up, gold and resources stocks went down even as the commodi...Read More
NEW YORK, Nov 8 (Reuters) - Wall Street stocks ended slightly higher on Monday, gaining early in the day as investors cheered passage of a U.S. infrastructure spending bill, but paring gains late as sliding Tesla shares weighed the indexes down.All three major U.S. stock indexes pared early gains but closed higher. Still, the S&P 500 and the Nasdaq extending their run of all-time closing highs...Read More
NEW YORK (Reuters) - The dollar dipped on Monday after hitting 15-month highs on Friday following strong U.S. jobs data while investors digested the report, looked ahead to inflation data and monitored commentary from Federal Reserve officials for rate policy clues.On Wednesday the Fed had stuck to its view that current high inflation is expected to be transitory and said it would start trimming i...Read More
WASHINGTON, Nov 8 (Reuters) - Concerns over higher inflation and tighter monetary policy have taken the mantle as the top concern for market participants, pushing aside the COVID-19 pandemic, the Federal Reserve said Monday in its latest report on financial stability.At the same time, the semiannual report also flagged the growing use of stablecoins and "so-called meme stocks" as issues...Read More
The manganese seaborne and portside ore markets diverged during the week to Friday November 5, with the higher-grade cif market strengthening on higher offers and fot prices weakening on the softer alloy market.Fastmarkets' manganese ore 44% Mn, cif Tianjin price index was calculated at $5.80 per dry metric tonne unit (dmtu) on Friday, an increase of 22 cents (+3.9%) from $5.58 per dmtu one week e...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Commerzbank commodities analyst Daniel Briesemann has been monitoring the gold markets closely for a while now. In his most recent note, Briesemann said the drop in rates could have led...Read More
The latest data for the global manganese ore market for the week ending November 8, 2021.Read More
Nov 8 (Reuters) - The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials and other economy-focused sectors, while Tesla fell on top boss Elon Musk's plan to sell about a tenth of his stake.Six of the 11 major S&P 500 sector indexes were higher in early trading after the Congress on Saturday passed the long-delayed infrastructure bi...Read More
The S&P 500 reached a new high, closing up 0.09% to 4,701.7."With the Bipartisan Infrastructure Deal and the Build Back Better Agenda, 50 years from now, people will look back and say this was the moment when America decided to win the competition of the 21st century," US president Joe Biden tweeted a short while ago.China posted a record monthly trade surplus in October, as exports rose for t...Read More
Nickel pig iron (NPI) prices in China slid from an all-time high in the week to Friday November 5 in tandem with movements on exchanges, though tight supply amid power cuts in the country kept them supported.Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was at 1,490-1,510 yuan ($233-236) per nickel unit last Friday, narrowing downward by 10 yuan...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Jaguar Mining (TSX: JAG) today announced that its revenue for Q3 2021 decreased 6% to $40.7 million, compared with $43.5 million in Q3 2020, mainly due to a reduction in the average realized gold price...Read More
"While prices may moderate through 2022 as pandemic supply issues ease, building demand — due to factors including the growth of the electric vehicle sector and the energy transition —Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Aurion Resources (TSX VENTURE: AU) announced Monday that it has signed a formal definitive option agreement with Kinross Gold (TSX: K) granting Kinross the right to earn up to an undivided 70% interest...Read More
Nov 8 (Reuters) - Short-term inflation expectations increased in October and consumers' expectations for how much money they will earn and spend over the next year rose to the highest level in eight years, according to survey findings released by the New York Federal Reserve on Monday.Median expectations for what inflation will be one year from now rose in October for the 12th straight month to 5....Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) -Gold and silver prices are modestly up in early U.S. trading Monday, with goldnotching a two-month high. It appears the metals traders have turned theirfocus from the bearish aspects of a tighter U.S. m...Read More
WASHINGTON, Nov 8 (Reuters) - The U.S. Federal Reserve's hoped-for surge of people into the U.S. job market fell short again in October, with the labor force participation rate now flat for 15 months and continued broad wage gains reflecting what's become perhaps the key supply "bottleneck" for the central bank.Average hourly earnings rose 4.9% on an annual basis in October, the most sin...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold has broken and consolidated above the all-important $1800/oz level overnight and this put the upside levels in focus. On the daily chart below the trendline marked in purple stemming from all...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More