Trump's impeachment progress is the key reason for gold and silver to rise. Impeachment news is the reason for gold price to rise from $1460 to $1520. Thereafter investment interest and speculative longs pushed gold past $1600. Gold prices not falling below $1530 despite some bearish news should be taken as short term positive by bulls. News on US-China trade deal (everything collected from Re...Read More
Prices for steel rebar in Egypt fell again in the week to Thursday January 16, due to weak demand and falling billet prices, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,650-10,120 ($607-637) per tonne ex-works, including 14% VAT, down from last week's ?,?'9,775-10,580 per tonne ex-works....Read More
China's stainless steel prices decreased slightly ahead of the upcoming January 24-30 Chinese New Year holiday amid sluggish trading due to a segment of the market already starting their breaks well in advance."Producers made minor adjustments to their stainless steel prices, if any at all, because the price of nickel has been mostly stable with only minor movements," a steel processor source in e...Read More
In conversation with Maurice Jackson of Proven and Probable, the CEO elaborates on what could be a "company-making" event. Maurice Jackson: Joining us for a conversation is David Cole of EMX Royalty Corp. (EMX:TSX.V; EMX:NYSE.American), the royalty generator. Pleasure to be speaking with you today to discuss a series of accretive transactions that EMX Royalty has consummated that continue to rewa...Read More
Though never drill tested, the company believes the area is highly prospective for gold. Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release it signed an option agreement to earn a 100% interest in Bounty Gold Corp.'s H Lake property, thereby expanding its property holdings in Ontario's Red Lake District."With this second option we have secured what we believe to be the most fa...Read More
All of the firm's aims center on rapidly advancing its deposit in Canada. Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTC; 35D:FSEQB) reported in a news release its 2020 goals for its Wicheeda rare earth elements (REEs) project near Prince George, Canada."We expect 2020 to be a watershed year of significant rerating for Defense Metals and an elevated presence amongst our peers," President and CEO Cra...Read More
The transaction will expand the company's portfolio of properties. Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) agreed to acquire Chalice Gold Mines Ltd.'s (CXN:TSX; CHN:ASX) South Rim property for 10 million shares, it announced in a news release. "We are extremely excited to expand the company's portfolio of properties with this acquisition," Black Tusk CEO Chief Richard Penn sa...Read More
The numbers from the company's three operations are reviewed in a CIBC report. In a Jan. 12 research note, CIBC analyst Cosmos Chiu reported that Dundee Precious Metals Inc. (DPM:TSX) posted a solid Q4/19 and its production for 2019 fell well within the guidance range. "Overall, the results confirm that the company is set up for a strong 2020 as Chelopech's high-margin production is complemented...Read More
The potential of this company's asset is discussed in an Echelon Wealth Partners report. In a Jan. 10 research note, Echelon Wealth Partners analyst Gabriel Gonzalez purported that Revival Gold Inc.'s (RVG:TSX.V) updated Beartrack and Arnett Creek resource estimate, expected between mid and late Q1/20, should show growth and that "potential for much more" exists.Echelon expects the updated gold r...Read More
Demand for passenger cars in Europe moved up by a remarkable 21.65% year-on-year in December 2019, making it the fourth consecutive month of growth.New car sales in Europe totalled 1,215,076 vehicles in December last year, compared with 998,791 units sold in the corresponding month of 2018, the European Automotive Manufacturers Association (ACEA)...Read More
Turkey's vehicle output totaled 1,461,244 units in 2019, down by 5.74% from 1,550,260 vehicles the previous year, the Turkish Automotive Manufacturers Association (OSD) said on Sunday January 12.Domestic vehicle sales of 491,909 units last year is down by 23.32% from 641,550 vehicles in 2018.The country exported 1,252,586 vehicles in 2019, a decline of 5.03% from 1,318,869 vehicles the previous ye...Read More
Jobs and retail data lifted Wall Street todayThe Dow roared to a fourth straight win and new record high today, thanks to upbeat retail sales and jobs data. The blue-chip index's over 200-point win can also be attributed to the details of the newly signed "phase one" trade deal with China, where it was revealed China could purchase nearly $200 billion more in U.S. goods in the coming years. The S&...Read More
Market participants in China say they are not worried by the expected increase in steel imports from the United States, even after the two major economic powers signed the phase one economic and trade agreement on Wednesday January 15. While the agreement does not set out the increase in quantity of US-origin steel exports China will accept, Chinese market participants do not expected the increase...Read More
The gap between the SPX and its 200-day moving average is unusually wideThe S&P 500 Index (SPX) has rallied over the past few months, and now, relative to its 200-day moving average, it's the highest it's been in about two years. Specifically, it's now 10% above the moving average. The last time it reached this level it did not go well. The S&P 500 peaked on January 26, 2018 at 14% above the movin...Read More
Morgan Stanley downgraded the electric automaker to "underweight" from "equal-weight"Tesla Inc (NASDAQ:TSLA) is getting hit with a bear note from Morgan Stanley just two days after the stock nabbed an all-time high of $547.41. The analyst downgraded the electronic auto manufacturer to "underweight" from "equal-weight" but lifted its price target to $360 from $250 -- still a sizable deficit off las...Read More
Options have been running hot ahead of the company's earnings reportJoining the busy earnings slate this week is distribution name Fastenal Company (NASDAQ:FAST). The company is scheduled to report earnings before the open tomorrow, Jan. 17. Below we will take a look at how FAST has been faring on the charts, and what the options market is pricing in for post-earnings moves. At last check, the equ...Read More
Traders at the major exchanges have picked up long calls at a rapid paceData from the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows there's been unusual interest in long ArcelorMittal SA (ADR) (NYSE:MT) call options. The steel concern's 10-day call/put volume ratio comes in at 12.63, a reading that ranks in the bullish 97th annual percenti...Read More
Central China-based Henan Luoyang Iron & Steel is to sell its 1.04 million tonnes per year of crude steel capacity to a mill in southern China's Guangdong province, according a notice released by the Henan Industry & Information Technology Department on Tuesday January 14.Seller: Luoyang Iron & SteelLocation: Luoyang city, Henan...Read More
Earnings season will be picking back up this week with several blue chips Despite Monday's market closure in honor of the Martin Luther King Jr. holiday, it's shaping up to be a busy week ahead. For starters, traders can expect quarterly reports from blue chips American Express (AXP), IBM (IBM), Intel (INTC), Johnson & Johnson (JNJ), Procter & Gamble (PG), and Travelers (TRV). FAANG name Netflix...Read More
Cambell Soup just pulled back to a bullish signal on the charts During the past 12 months, packaged food manufacturer Campbell Soup Company (NYSE:CPB) has been on a climb higher. Year-over-year, the stock has added 36%, and it just came off a two-year high of $49.55 in early January. More upside could be in the soup stock's future, though, should history be any indication.Specifically, CPB just pu...Read More