Although precious metals are still relatively under-owned and unloved, retail investors have been pouring into the metals markets since early last year.Lots of newer investors have high hopes about where prices are headed in the near term. Even seasoned metals investors are optimistic about the current set-up for higher prices.The difference is that seasoned investors also know they may not get wh...Read More
Automotive and industrial supplier Schaeffler has signed an off-take agreement with Sweden's H2 Green Steel (H2GS) to purchase 100,000 tonnes of its near-zero CO2- free steel on an annual basis from 2025, the company announced earlier in the week.The steel will be produced via direct reduction with hydrogen from renewable energy, replacing coking coal and reducing emissions by 95% in comparison wi...Read More
As a new month begins, the downtrendin the GDX and GDXJ should resume. When will a new buying opportunity finallypresent itself?Let’s compare the behavior of the GDX ETFand the GDXJ ETF. Regarding the former, the GDX ETF reversed sharply afterreaching its 200-day moving average and a confluence of bearish indicatorssignaled a similar outcome. For context, I wrote on Oct. 25:Smallbreakout mir...Read More
The trade agreement between the EU and the US to replace Section 232 tariffs with a quota system has received a positive wecome from Europe's long steel producers, sources told Fastmarkets this week.The European Union and the United States came to an agreement on October 30, although United Steelworkers International president Tom Conway said at the time that the volumes permitted to come in from...Read More
After sitting on the sidelines for much of last year, central bank appetite for gold has resumed, in part due to inflationary pressures globally along with disruptions in the energy market.Russia recently reached a milestone record for its gold reserves, now ranking fifth in the world for the size of its holdings.Russia now holds well over 20% of its reserves in gold! This represents nearly 2,300...Read More
So, QE ended (so far in Canada, but the Fed will follow suit) and the termination plunged gold prices in Canadian dollars. Will this repeat globally?Finally! Yesterday (October 27, 2021), one central bank ended its quantitative easing program after gradually reducing the pace of asset purchases earlier this year. Don’t panic though - it wasn’t the Fed, nor the ECB, nor the Bank of Jap...Read More
The People's Bank of China (PBOC) will offer cheaper funding to financial institutions which provide green loans, according to a statement released by the Chinese central bank on Monday November 8.The central bank will lend money to financial institutions to help them support firms which are working toward China's energy transition goals, the statement read.Financial institutions can borrow from P...Read More
Oil prices rose again on Tuesday,approaching multi-year highs amid concerns over steadily shrinking US crudereserves.FundamentalAnalysis U.S. API Weekly Crude Oil Stock: Inventory levels of US crude oil, gasoline and distillates stocks, AmericanPetroleum Institute (API) via InvestingRegarding the API figures publishedTuesday, the increase in crude inventories (with 2.318 million barrels versus1.65...Read More
Precious metals expert Michael Ballanger delves into the Federal Reserve's actions going back decades that affect the price of gold.One of the benefits (or luxuries) of being removed from the commuting rat-race of my earlier life is the ability to devote large swaths of free time to reading – to the acquisition of either new sources of knowledge or new frameworks of opinion, neither of which...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
A silver supply deficit is inbound? How long will the manipulation last?by Samuel Briggs via KinesisThis week, Andrew Maguire sits down with hedge fund manager and mining stock specialist, Dave Kranzler, for a deep dive into the precious metals markets:The pair discuss the impact of retail silver buying on the market; the future of gold and silver premiums and industry predictions of a severe silv...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
Jay is joined by Egon Von Greyerz, founder of Matterhorn Asset Management - the world's largest private gold storage company. Jay and Egon discuss the 'Gold ...Read full newsRead More
Doug Groh joins BNN Bloomberg to talk about gold and how to invest in this market at a time where some investors might be seeking to protect against inflation. He adds that the reason why gold is not higher today is because it is responding to the current monetary policy instead of inflation itself. However, Doug points out that the outlook for this metal is much more positive than what it was pre...Read More
Vancouver, BC, November 8, 2021, Big Red Mining Corp. (CSE: RED) ("Big Red" or the "Company") announces that the Company's common shares will be li...Read full newsRead More
The strong rally in precious metals was a bit of a surprise for First Majestic Silver (NYSE: AG) CEO Keith Neumeyer.Neumeyer spoke to Kitco on Friday at the Deutsche Gold Messe show in Frankfurt, Germany.Two pieces of news last week propelled gold higher: headline inflation rose to 6.2%, and the $1 trillion U.S. infrastructure bill was signed into law. Gold had a solid breakout trading above $1,85...Read More