Trade very carefully today. Central banks are all out to prevent a big crash in stock markets. Crude oil and copper are bullish at the moment. I used to write a monthly column for a jewelry magazine in India between 2007 and 2012. (Now I do not write articles for any media other than www.goldseek.com). In one of the articles I had written that gold prices will crash when human's survival is ques...Read More

The Turkish steel producers have extended their absence from the deep-sea scrap markets in expectation of lower prices, but suppliers were holding firm, sources said on Monday March 2.After buying several cargoes in the first three weeks of February, the mills stepped back from purchase activity at the beginning of last week.The most recent deep-sea transactions had put the price of HMS 1&2 (80:20...Read More

Global markets continue to grapple with the ongoing outbreak of the Coronavirus. Nouriel Roubini, Professor of Economics at NYU Stern, joins Yahoo Finance to discuss.Nouriel Roubini, a professor at NYU's Stern School of Business and Chairman of Roubini Global Economics, was Senior Economist for International Affairs in the White House's Council of Economic Advisers during the Clinton Administratio...Read More

The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.Local exporters that applied for the force majeure "legal shield" cover over 30 different sectors, according to a CCPIT announcement on its website on February 26. The legal provision is traditionally used...Read More

CIS export slab export prices fell in the week to Monday March 2, with deals being done at lower prices and the size of the discount varying depending on the final destination, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $405-420 per tonne on March 2, down by $5-10 per tonne week on week.A 50,000 cargo of Ukraine-origin slab was rep...Read More

Mar 01, 2020 Guest(s): Chantelle Schieven Research Head, Murenbeeld & Co. Despite gold's recent lackluster performance the price can easily go higher if the Federal Reserve cuts interest rates by 50 basis points at its next meeting, according to Chantelle Schieven, head of research for Murenbeeld & Co. On the sidelines of the Prospectors and Developers Association of Canada (PDAC) 2020 confe...Read More

Steel billet prices in some global markets rose in the week to Friday February 28, supported by firm demand, sources told Fastmarkets.But the spread of the novel coronavirus (2019-nCoV) across the world, including rising infection numbers in other parts of Asia, such as South Korea and Japan, dampened market sentiment, sources said.Scrap prices declined during the week, with Fastmarkets' dail...Read More

Sector expert Michael Ballanger charts tumbling markets amid the scare of a coronavirus pandemic. (Peniaphobia: fear of poverty)This weekend, newsletter writers the world over are scrambling to explain to their paid subscribers why they are now showing losses in portfolios that were supposed to be showing gains, and especially because it was only two weeks ago that the S&P 500 hit all-time highs...Read More

MacDonald Mines Exploration reports strong start to its definition drilling in northern Ontario. In a news release, Macdonald Mines Exploration Ltd. (BMK:TSX.V; MCDMF:OTCMKTS) announced a successful first hole of its 2020 definition drilling in the Scadding deposit's North Pit area on its SPJ property in northern Ontario. That maiden hole, SM-20-026, intersected 59.2 grams per ton gold over 19.07...Read More

The package offers Ely Gold royalty generation and future potential. Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) agreed to acquire privately held VEK Associates that owns a portfolio of Nevada properties, it announced in a news release. The deal is expected to close by May 1, 2020."This royalty package has the potential to be of equal or more value to our rapidly growing royalty portfolio an...Read More

China's domestic rebar prices dropped further on Monday March 2, but futures picked up following news that most industry sectors in the country have resumed work.Eastern China (Shanghai): 3,360-3,390 yuan ($482-486) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,260-3,290 yuan per tonne, down 60-70 yuan per tonneMore local governments have reported that various industries and projec...Read More

Here are five Fastmarkets stories you might have missed on Monday March 2 that are worth another look.The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.The price of European aluminium ingot 226 continued to climb on Friday February 28 due to strong domesti...Read More

The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.Local exporters that applied for the force majeure "legal shield" cover over 30 different sectors, according to a CCPIT announcement on its website on February 26. The legal provision is traditionally used...Read More

The D? 1/4 sseldorf wire and tube fair has been postponed due to the spread of the novel coronavirus (2019-nCoV), the fair organizer, Messe D? 1/4 sseldorf, said on Saturday February 29.The international trade fair for wire, cable, tube and pipe industries was due to take place on March 30 to April 3. "We are following the recommendation of the crisis management team of the German government to ta...Read More

COVID-19 cases in the U.S. continue to rise, however Stock bounced back in a big way today, as Wall Street attempted to rectify losses incurred during the worst week since the 2008 financial crisis. The Dow turned in an over 1,2000 point win -- its biggest percentage gain since March 2009 -- and snapped a seven-day losing streak in the process. All three benchmarks notched wins of 4% higher or mor...Read More

Jefferies lifted its price target to $53.40 from $50The shares of China-based e-tail giant JD.Com Inc (NASDAQ:JD) have staged a massive rebound today, following the company's fourth quarter earnings and revenue report, which exceeded analysts' expectations. JD cited strength in its core e-commerce business. The company also forecast a 10% year-over-year growth in sales for its fiscal first-quarter...Read More

Moderna is eyeing its highest close on record It's been a volatile few days for biotech concern Moderna Inc (NASDAQ:MRNA), which gapped higher early last week following a big breakthrough for its experimental COVID-19 vaccine. The stock wound up gaining 42.2% for the week, despite a pullback on Thursday, as it appears the equity has erased these losses today. In fact, MRNA is now eyeing its highe...Read More

Both AAL and DAL are tremendously oversoldAirline and travel stocks have taken the brunt of the recent broad market sell-off, as COVID-19 cases rise and more people opt to stay home. With the White House set to meet with airline executive officials on Wednesday, stocks Delta Air Lines, Inc (NYSE:DAL) and American Airlines Group Inc (NASDAQ:AAL) are in focus today. Below we'll break down why opt...Read More

The blue-chip index is in recovery mode this afternoonThe Dow Jones Industrial Average's (DJI) continues to recover from last week's catastrophic selloff, up over 700 points at its intraday peak. The blue-chip index brushed off disappointing data from the ISM manufacturing index, which showed a slowdown due to coronavirus headwinds last month. Meanwhile, Wall Street is eyeing impressive resilience...Read More

Stifel upgraded WDC to "buy" from "hold" Computer hardware manufacturer Western Digital Corp (NASDAQ:WDC) is staging a bounce off last Friday's two-month lows following a beaming bull note from Stifel. The analyst lifted its rating on WDC to "buy" from "hold," and hiked its price target to $73 from $63. Stifel noted that WDC's coronavirus-induced plummet last week creates an attractive entry point...Read More