Stewart Thomson 1. I predicted gold would bottom in mid-November and it did. Please click here now. Double-click to enlarge this fabulous daily gold chart. 2. A lot of amateur gold investors have missed this rally. That's partly because they thought the "smart money" was shorting a lot of gold on the COMEX. 3. What they probably overlooked was the possibility that the s...Read More
2019 was marked by a big rise in gold, silver and palladium rise among the metals. Natural gas was the biggest looser. UK Pound or cable as we call it was nosedived on brexit but also recovered lost ground after thumping mandate to Boris Johnson in UK elections. Japanese Yen and Euro traded mostly in a range and a trend. Indian rupee had weakened against the US dollar in 2019. There is massive d...Read More
By: Ira EpsteinGold daily chart in a resistance area, what to look for next:Read More
Prices for 62% Fe iron ore experienced a gradual recovery as 2019 came to an end, rising to the $90-per-tonne level, while the high-grade 65% Fe segment even breached $100 per tonne.Traded volumes for the Singapore Exchange's 65% Fe futures contract, which is settled against Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, amounted to 1.994 million tonnes in December....Read More
"While new risks could emerge, none of the main sources of recent recessions - oil shocks, inflationary overheating, and financial imbalances - seem too concerning for now. As a result, the Continue...Read More
Prices for steel billet and rebar in Egypt remained stable in the week to Thursday January 2 amid weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?10,000-10,580 ($622-658) per tonne ex-works including 14% VAT, unchanged since mid-December.Read More
Turkish billet prices have weakened over the past week in line with falling rebar and wire rod offers as well as poor demand, sources said on Thursday January 2. Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $410-420 per tonne on Thursday January 2, down from $415-425 per tonne last week. Suppliers in the Commonwealth of Independent States have lowered...Read More
China's domestic rebar prices moved down slightly on Thursday January 2 amid pressure from increased availability of material in the spot market.Eastern China (Shanghai): 3,700-3,740 yuan ($531-537) per tonne, narrowed downward by 10 yuan per tonneNorthern China (Beijing): 3,530-3,550 yuan per tonne, down 20 yuan per tonneRebar stocks in major spot markets totaled 3.57 million tonnes on Thursday,...Read More
Fieldwork is being done on the property to further determine its upside potential. KORE Mining Ltd. (KORE:TSX.V; KOREF:OTCQB) filed a mineral resource estimate update on its Imperial oxide gold project in California, it announced in a news release. Prepared by SRK Consulting, the report outlines current resources of an estimated 877,000 ounces in the Indicated category, from 45.7 million tons of...Read More
Bob Moriarty of 321gold discusses the similarities between this project and the Witwatersrand deposit in South Africa. I've been writing about Novo Resources and their Witwatersrand lookalike deposit for over five years. Well, Quinton Hennigh is associated with another Wits lookalike, this time in Brazil. It wouldn't be the first time I wrote about a Wits deposit in Brazil, I was writing about De...Read More
The transaction is briefly reviewed and assessed in a BMO Capital Markets report. In a Dec. 23 research note, BMO Capital Markets analyst Jackie Przybylowski reported that IAMGOLD Corp. (IMG:TSX; IAG:NYSE) agreed to sell its 41% interest in the Sadiola gold project in Mali to Allied Gold for $31.15-33.65 million plus payments for two future sulphides-related milestones there. The deal is expected...Read More
The Canadian base and precious metals company will use the proceeds to explore its project in British Columbia. Tudor Gold Inc. (TUD:TSX.V) announced in a news release that it completed a nonbrokered private placement for gross proceeds of about $2.9 million. The transaction involved the sale of 4,185,714 flow-through Tudor common shares at $0.70 apiece by initial subscribers to certain entities,...Read More
The agreement pertains to future gold-silver concentrate produced at the company's Mexican operations. Great Panther Mining Ltd. (GPR:TSX; GPL:NYSE.American) announced in a news release that its subsidiary, Minera Mexicana el Rosario, S.A., entered into a $10 million concentrate prepayment agreement with IXM Group, a Geneva-based physical metals trader.IXM was set to advance Great Panther's subsi...Read More
Rick Mills of Ahead of the Herd breaks down the investment thesis behind his belief silver prices are poised to gallop ahead. Silver is expected to begin the next decade newly burnished, through a combination of higher industrial and investment demand, and tightened supply owing to mine production issues and output cuts. As December winds down and precious metals trade volumes dwindle, market ana...Read More
Chinese stainless steel prices declined over the past week because of producer plans to reduce their inventories ahead of the January 24-30 Lunar New Year holiday. Sources told Fastmarkets that the slight decrease in nickel prices also contributed to the lower prices, with the three-month nickel contract on the London Metal Exchange ending 2019 at $14,075-14,100 per tonne on Tuesday Dece...Read More
Tan Viet Quang Co Ltd began construction of a stainless steel plant in central Vietnam's Quang Tri province in late December. The company will invest 1.6 trillion Dong ($69 million) in the project, which will be able...Read More
Gold prices continue to climb, tooThe Dow kicked off 2020 with a flourish, finishing up over 330 points, its best session since Dec. 6. The blue-chip index nabbed a fresh intraday high in the process, thanks to the latest weekly jobless claims data and stimulus chatter out of China. The S&P 500 and Nasdaq also posted solid wins and fresh record highs, with the latter nabbing its biggest percentage...Read More
Several Fed presidents will speak on ThursdayThings are beginning to heat back up on the economic calendar and in the earnings arena, as the holidays come to a close and investors gear up for 2020. There's a slew of economic data on tap, with the ADP employment report, nonfarm payrolls, and several manufacturing updates all due. Several Fed leaders are also expected to give speeches Thursday, wh...Read More
Nomura Instinet boosted its price target on AMDAdvanced Micro Devices, Inc. (NASDAQ:AMD) is at the top of the S&P 500 Index (SPX) today, after Nomura Instinet boosted its price target on the chip stock to $58 from $40 -- a 26.5% premium to AMD's 2019 close at $45.86. In reaction, the shares are up 6% at $48.60, earlier hitting a record high of $48.78.The sharp spike higher has sparked a fire in th...Read More
HII has added over 30% over year-over-yearThe world's largest military shipbuilding name Huntington Ingalls Industries Inc (NYSE:HII) is up 0.9% this afternoon, trading at $252.69, at last check. The defense outperformer has surged 31% over the past 12 months, with a recent leg of support forming at the 40-day moving average and $250 level. Plus, data from Schaeffer's Senior Quantitative Analyst...Read More