NVDA has had a wicked climb up the charts in recent monthsChip stock Nvidia Corporation (NASDAQ:NVDA) is up 4.4% at $220.25 this morning, fresh off a 13-month high of $220.34, thanks to a raving bull note out of Morgan Stanley. The brokerage firm handed out an upgrade to "overweight" from "equal weight," and hiked its price target to $259 from $217 -- a nearly 23% premium to Friday's close of $21...Read More
This analysis continues from part 1 (Gold Price Trend Forecast 2019 Current State). The gold price has had a strong bull run this year, breaking out of it's long-term trading range of $1370 to $1150, which propelled the Gold price towards a core target zone of $1500 to $1530 though ahead of the time frame I had in mind therefore putting the gold price into an extremely overbought state. The price...Read More
U.S. national security advisor Robert O'Brien predicted a trade agreement will be reached by the end of 2019Stock futures are signaling another rally today, following Friday's last minute turnaround. Dow futures are roughly 81 points above fair value after comments on Saturday from U.S. national security advisor Robert O'Brien suggested a "phase one" trade deal between the U.S. and China could be...Read More
The Q3/19 results and the Q4/19 outlook are outlined in a BMO Capital Markets report.In a Nov. 5 research note, BMO Capital Markets analyst Alexander Pearce wrote that following the reporting of Q3/19, the outlook for Cameco Corp. (CCO:TSX; CCJ:NYSE) "remains robust, with a strong balance sheet and upside potential if uranium prices recover quicker than expected." Q4/19 is expected to be more acti...Read More
Traders who bought the April 2013 breakout might be looking to take profitsAfter six consecutive weeks of gains in which the S&P 500 Index (SPX - 3,110.29) advanced 5.7% to a record high, the index finally gave up ground last week. But the 10-point pullback is hardly noticeable, as the SPX closed the week above both the round 3,100 century mark and its 10-day moving average. $SPX 3,130 area is rou...Read More
Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands. Steelmakers have been trying to increase the price of rebar in the country since September, with Gerdau pushing for a 7% rise in that month. But the market only started to recover in October and the hike was lower than suppliers expected. Fastmarkets' most recent...Read More
Steel producers in the Middle East asked for more protectionism against cheap imports in 2019 and this trend is expected to continue in 2020.GCCThe Gulf Co-operation Council (GCC) countries started a safeguard investigation on several steel products in October this year. The investigation covers the period from January 2014 to June 2019 and focuses on hot-rolled flat products, rebar, wire rod, sec...Read More
StrengthsThe best performing precious metal this week was palladium, up 3.85 percent. Shipments of palladium from Switzerland to Hong Kong rose to a five-year high in October. In the weekly Bloomberg survey of gold traders and analysts, most respondents were surprisingly bullish on the yellow metal for next week, expecting further tension between the U.S. and China over Hong Kong. President of...Read More
The three-month copper price on the London Metal Exchange was marginally higher at the close of trading on Monday November 25, but prices failed to breach nearby resistance on moderately low turnover, while lead futures made the biggest losses over the day.Copper's outright price closed at $5,868 per tonne in the afternoon, despite reaching an intraday high of $5,917 per tonne, while turnover was...Read More
Kunming Rongke New Materials has won the entirety of the bismuth stock held by the collapsed Fanya Metal Exchange in an auction that ended on Saturday November 23, according to the official auction results posted on the Alibaba judicial online platform.Kunming Rongke won the 19,228.05 tonnes of bismuth with a bid of 606.07 million yuan ($86.09 million). The winning bid, which was also the starting...Read More
Chinese markets for chrome ore and alloy were stable week on week on Friday November 22 in the run up to announcements for December ferro-chrome tender prices. Ore and alloy prices flat in China ahead of new tender price announcement Alloy prices weaken in Japan, South Korea European price range narrows, with market participants reporting continued poor demand US spot market sta...Read More
Seaborne manganese ore prices for both grades rose by more than 1% in the week ended Friday November 22 after sentiment improved in response to rises in the domestic port-side market. Fastmarkets' manganese ore index, 37% Mn, cif Tianjin climbed by 1.2% or 4 cents week on week to $3.32 per dry metric tonne unit (dmtu) on Friday. Fastmarkets' calculation of the index for manganese ore, 37% Mn,...Read More
Christopher Lewis8 hours ago (Nov 25, 2019 4:54 PM GMT)Gold markets gapped a little bit lower to kick off the week, and then drove down towards the $1450 level. This is an area that was previous resistance in the form of an ascending triangle, and that of course is an area that could cause a bit of “market memory”, so therefore it’s likely that the market participants will con...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 25 that are worth another look.Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands.Seaborne manganese ore prices for both grades rose by more than 1% in the week ended Friday November 22 after sentiment improved in response to r...Read More
Ole Hansen10 hours ago (Nov 25, 2019 2:32 PM GMT)The below summary highlights futures positions and changes made by hedge funds across 24 key commodity futures up until last Tuesday, November 19. The report covered a week where the prospect for a “phase one” U.S.-China trade deal received a knock from the Senate vote on Hong Kong. While stocks climbed bonds saw 10-year yields tumble...Read More
The three-month copper price on the London Metal Exchange was marginally higher at the close of trading on Monday November 25, but prices failed to breach nearby resistance on moderately low turnover, while lead futures made the biggest losses over the day.Copper's outright price closed at $5,868 per tonne in the afternoon, despite reaching an intraday high of $5,917 per tonne, while turnover was...Read More
Seaborne coking coal prices were steady on Monday November 25, as participants stayed on the sidelines to gauge direction following last week's increase.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.66 per tonne, down $0.10 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, unchangedHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Ji...Read More
The three-month aluminium price on the London Metal Exchange consolidated during morning trading on Monday November 25, while a fresh inflow of 50,950 tonnes did little to move the metal's stagnant price.Aluminium's outright price was recently seen at $1,738 per tonne, a dollar shy of Friday's closing price of $1,739 per tonne, while just over 1,500 lots were exchanged as of 9:05am London time.&nb...Read More
Endeavour Silver's most profitable mine will be shut down indefinitely by the end of November due to the exhaustion of mineral reserves...by Steve St Angelo of SRSrocco ReportEndeavour Silver's most profitable mine will be shut down indefinitely by the end of November due to the exhaustion of mineral reserves. All employees will be laid off, and the mine will be put on care and maintenance. Th...Read More
Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSThe stock market surges again while gold & silver continue their downside momentum, yet respectively, they sure do look like bull and bear traps...Mike & Half Dollar host Silver Doctors Live on Mondays & Wednesdays at 12:00 p.m. EST.Watch the show live, or the replay of it, in its entirety!Link to...Read More