Gold futures gave up earlier gains on Thursday to finish lower for a third consecutive session, as U.S. bond yields traded above the day's lows. The rise in bond yields helped offset support for the metal even as worries about the spread of the COVID-19 epidemic outside of China continued to spark selling in global equity markets. Gold prices are "always sensitive to the outlook for interest rates...Read More
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GDX stock is now very overbought on almost every metric. Traders should look to short VanEck Vectors Gold Miners ETF on any strength.Read full newsRead More
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"Tomorrow's the day! Prepare for #PDAC2020 with our guide, and watch out for #INNatPDAC! @the_PDAC https://t.co/vDEDltkRSN #mining #exploration"Read full newsRead More
"Come join #INNatPDAC when #PDAC2020 starts in just two days, and get some tips from our guide before you go! @the_PDAC https://t.co/6vpgSiiABF @the_PDAC #INNatPDAC #gold #silver #investing"Read full newsRead More
Mounting fears about the coronavirus becoming a global pandemic are continuing to fuel investors’ interest in gold as a safe-haven asset to counter the uncertainty. This, in turn, sent gold prices soaring to seven-year highs at the start of the week. In such a risk-off climate, gold prices surged up 14 out of the past 16 days through February 25, setting itself up to test resistance at $1,7...Read More
I wish I could say that the reason for Teck Resources’s (TSX:TECK.B)(NYSE:TECK) stock price disaster in February was due to coronavirus fears, because the actual reason is far more sinister for Canada. While the coronavirus did play a part in the Teck’s stock price decline of 21.1% in February, the most significant reasons are outlined below, and one relates directly to Canada and the...Read More
Justin Trudeau's new tax incentive would make it more affordable to invest in mining equipment. (Read More
Goldlund Project (Credit: First Mining Gold). First Mining Gold (TSX: FF) on Monday announced results from the drill program at the company's wholly-owned Goldlund gold property in Ontario.According to the miner, of eleven holes reported, gold mineralization has been encountered in nine. Hole GL-19-008 intersected 21 metres of 5.36 g/t gold within highly mineralized granodiorite and porphyry uni...Read More
Finding a good stock was a challenge early on this year. Many stocks were significantly overvalued, with a number of them trading at not just 52-week highs but five-year highs as well. So for value investors like myself, it was difficult to find an investment to add to my Tax-Free Savings Account (TFSA).One way I try to find a good stock to invest in is to look at where a particular industry is he...Read More
The gold rally ran into a brick wall last week, hit by a major sell-off in the stock markets. Investors who missed the recent price surge in gold stocks are now wondering if they should add the gold miners to their Tax-Free Savings Account (TFSA) portfolios.VolatilityGold rallied from US$1,550 per ounce on February 4 to US$1,690 just 20 days later. Investors then decided to book profits and the pr...Read More
The story I'm about to tell you today is most likely true...It deals with Gypsies, the Roman Empire, and the mysterious mountains of Transylvania. Among the many stories I was told in Romania - tales of vampires, ghosts, and invasions - one of the most interesting had to do with gold and wealth.And it couldn't have come at a better time for investors.You see, I spent a week in Romania this month f...Read More
From left to right: Evelyn Coulombe, Consul General of Canada in Rio de Janeiro, Wilson Brumer, Chairman of the Board for the Brazilian Mining Association, Robert Peterman, Vice President, TMX - Global Business Development, Guillaume L?(C)gar?(C), Head, TMX - South America (Credit: IBRAM)The Brazilian Mining Association (IBRAM) announced on Monday it has signed a Memorandum of Understanding (MOU)...Read More
Poster of workers constructing the no. 4 blast furnace at WuGang (Wuhan Steel) circa 1970. Image: Chineseposters.net Copper and iron ore prices surged on Monday on hopes that China, responsible for more than 70% of the world's seaborne iron ore trade and half the world's copper consumption, will spend massively on infrastructure and manufacturing to revive an economy devastated by the coronavirus...Read More
Norway, Image by Markus Christ from Pixabay. Norsk Bergindustri (Norwegian Mineral Industry), the national mining association in Norway, announced on Monday that it will adopt the Towards Sustainable Mining (TSM) initiative, a corporate social responsibility program developed by the Mining Association of Canada (MAC) to improve environmental and social practices in the mining industry. TSM requi...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
Publication of Fastmarkets' assessment of blister copper refining charges (RCs) for February was delayed by a reporter error.The copper blister 98-99% RC, spot, cif China, is normally published on the last trading day of the month.The price should therefore have been published on Friday February 28. It was instead published on Monday March 2. The price was $135-145 per tonne in the latest assessme...Read More
Bob Moriarty ArchivesMar 2, 2020Last week provided a glimpse into the future of the stock market. Only a glimpse. It is going to get a whole lot worse.On January 1, I said in an article I titled Beware the Stock Market,“As the Everything Bubble pops, the financial system will destroy most investors because they are unprepared.” Lest my readers misconstrue what I meant, I followed that...Read More
Spot trading interest in copper intermediate products has surged among Chinese smelters who are eager to make up for copper output lost during the coronavirus (2019-nCoV)-led logistics lockdown in February. Logistics operations are resuming across Chinese provinces and copper production has picked up, leading to several thousand tonnes of blister copper reported as being sold into the country. Fas...Read More