Wall Street is waiting for the Fed minutes, due later today Dow Jones Industrial Average (DJI) futures are pointing to triple-digit gains this morning, getting a shot in the arm from a round of upbeat retail earnings. After the blue-chip index snapped its three-day winning streak yesterday, investor fears of a faltering domestic economy are being temporarily assuaged by blowout quarterly reports f...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Wednesday August 21, gaining by 2.3% on low turnover, while a steady decline in tin futures continued to prompt market concerns.Zinc futures began the day trading at around $2,230 per tonne before a strong bout of buying saw the metal close at $2,288.50 per tonne, its highest price since August 13.Volumes...Read More
An increasing yield spread has historically marked a prime time to sell stocksThe yield curve briefly inverted last week, sparking recession fears and inciting a market sell-off. The S&P 500 Index (SPX) fell almost 3% last Wednesday, Aug. 14, on the news. The inverted yield curve seems to be the most notorious recession indicator there is. The chart below, in part, explains its bad reputation. The...Read More
The price of steel mesh-quality wire rod in the European domestic market was unchanged this week, with trading still heavily subdued because of the seasonal summer slowdown, participants told Fastmarkets on Wednesday August 21.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?485-510 ($538-565) per tonne on Wednesday, unchanged week...Read More
By: Ira EpsteinGold nearing its 18-DMA support ~$1,490. Gold hit $1,503, new lower high short-term. Lost overbought momentum:Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 21.Please click...Read More
Stewart Thomson, Graceland Updates 1. More powerful money managers are stepping forward to recommend gold in a negative real rates environment.2. Please click here now. The focus of these elite money managers and analysts is mainly on bullion.3. Many of the more speculative junior miners that trade on the CDNX have yet to participate in this gigantic rally, but that may indica...Read More
The price of steel rebar in the Northern European domestic market remained unchanged due to the continued seasonal slowdown in the market, sources told Fastmarkets on Wednesday August 21.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?500-520 ($554-577) per tonne on Wednesday August 21, unchanged week on week. Subdued market a...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday August 21 that are worth another look.Swiss trading house Trafigura has begun blending copper concentrates in Malaysia, with small batches of output being offered to the market, Fastmarkets has learned.Zinc premiums in the United States widened upward in the week to Tuesday August 20 despite dampened consumption from stee...Read More
On Aug. 19, 2019, Dynacor released updated production guidance for the second half of the year.As a result, despite pretty poor 1H 2019 production figures, it looks like 2H 2019 should be much better.One of the main risk factors, the ore supply, seems to be contained now.The company continues its two investor-friendly initiatives: the dividend and share buyback programs.In my opinion, Dynacor stil...Read More
Alexander Khodov has joined Trafigura as the Singaporean commodity company's lead nickel and cobalt market analyst, a source close to the matter confirmed on August 21. Khodov joined Trafigura on August 19 after having previously spent three years...Read More
BAR is unchanged from a week ago, comforting our cautious expectations.Gold's spec positioning lightened marginally in the week to Aug. 13, keeping us cautious in the immediate term.Gold ETF inflows continued in the week to Aug. 19, mainly driven by increased market fears proxied by the rising VIX.BAR: We stay on the sidelines, willing to reassert upside exposure in case of a drop to $14.20/sh...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Wednesday August 21, gaining by 2.3% on low turnover, while a steady decline in tin futures continued to prompt market concerns.Zinc futures began the day trading at around $2,230 per tonne before a strong bout of buying saw the metal close at $2,288.50 per tonne, its highest price since August 13.Volumes...Read More
Gold has consolidated a bit in the recent week, but is still trading at ~$1,500/oz.At ~$1,500/oz gold, project economics and the ability to generate free cash flow should improve drastically for the higher-quality gold projects out there.My current top 5 developers at $1,500/oz gold are (in order of closest to declare commercial production): Victoria Gold, West African Resources, Orezone Gold, Car...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 21.Please click...Read More
Seaborne coking coal prices remained largely stable on Wednesday August 21, with buyers taking a wait-and-see approach.A branded cargo of premium hard coking coal was offered at $150 per tonne fob Australia on the Global Coal trading platform during the day, sources said.Steel mill sources in India highlighted the bleak downstream market conditions in the South Asian country, citing a liquidity cr...Read More
By all accounts, Newmont's recent Q2 EPS report was disappointing and a big miss.That said, there is a clear line-of-sight toward acquisition synergies and, of course, a strong course for its primary product, gold.In spite of the messy Q2 report, I reiterate my $45 price target. That equates to a ~16% gain from here.Potential upside catalysts to my PT are: better and faster than expected syner...Read More
If we look at certain indicators in the silver market, the price is setting up for a big move...by Steve St Angelo of SRSrocco ReportIf we look at certain indicators in the silver market, the price is setting up for a big move. It seems as if mainstream investors are now becoming more worried about the stock and bond markets. With almost $17 trillion in negative-yielding debt in the world, the...Read More
Rest assured, there are plenty of dollars (and other fiat currencies) to chase after ounces of silver...by Matt From Silver Fortune via Silver FortuneRest assured, there are plenty of dollars (and other fiat currencies) to chase after ounces of silver. Read More
The price of steel rebar in the domestic market of Southern Europe was unchanged this week amid the seasonal summer slowdown, sources told Fastmarkets on Wednesday August 21.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was unchanged week on week at ?,?470-485 ($521-538) per tonne on Wednesday.Market activity is typically much reduced....Read More