Three-month base metals prices on the London Metal Exchange were up across the board on the morning of Wednesday June 20, with the complex up by an average of 0.3%. Nickel and zinc prices led the way with gains of 0.5%, while copper was up by 0.2% at $6,843 per tonne.This rebound follows yet another day of price weakness on Tuesday that saw the base metals complex drop by an average of 1.7% and th...Read More
You've heard of a pick-and-shovel play before.The phrase goes back to the days of the California gold rush, when many of the profits being made weren't from those actively looking for gold. Instead, vast fortunes were built selling picks and shovels to miners looking to strike it rich. I also think it's safe to say that most of the members of our investment community have taken advantage of these...Read More
Calidus Resources (ASX:CAI) controls the entire Warrawoona Gold Project, in the East Pilbara district of the Pilbara Goldfield, in Western Australia. We learned from David Reeves, Managing Director of Calidus Resources, that they have a resource of 712,000 ounces, at 2.1 grams a ton, outcropping over 2.6 kilometers. It is open in all directions, and they have just commenced the resource extension...Read More
Toronto, Ontario - June 20, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Palamina Corp. (TSXV: PA) has completed further staking to expand its five 100% owned, district-scale gold projects in the Puno Orogenic Gold Belt ("POGB") located in southeastern Peru. The POGB is one of the least explored known orogenic gold belts. Palamina's projects in the POGB now cover over 77,000 hectares. All pr...Read More
Ferroglobe PLC has entered into a joint development agreement with BioSolar Inc to pursue opportunities in the lithium-ion battery market.Ferroglobe subsidiary Silicio Ferrosolar SLU - based in A Coruna, Spain - will collaborate with BioSolar to develop and market silicon anode materials for high-power, high-energy lithium-ion batteries, Ferroglobe announced."We are excited to partner with&nb...Read More
June 20, 2018 (Investorideas.com Newswire) Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American/GV6: FSE; "Avino" or "the Company") is pleased to announce the 2018 - 2019 strategic exploration objectives for the Bralorne Gold Mine located near Gold Bridge, British Columbia; which will allow the Company to use the gross proceeds of CDN $6,000,000 raised from the Flow-Through shares offering which...Read More
North China-based Ganglu Iron & Steel (Ganglu Steel) will keep back 100,000 tonnes of its hot-rolled coil from the spot marketeach month when it starts up a new 2 million tonnes per year cold-rolled coil line later this year.According to local media reports in Tangshan city, Hebei province, on Wednesday June 20, construction work for the CRC line will be completed this month and Ganglu Steel...Read More
China's domestic hot-rolled coil prices were largely stable on Wednesday June 20 with buyers coming to terms with their concerns over the brewing trade war between the world's two biggest economies.DomesticEastern China (Shanghai): 4,260-4,290 yuan ($658-663) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 4,200-4,230 yuan per tonne, unchangedConcerns over the trade spat between China a...Read More
Brazilian flat steel producers have delayed part of a planned price increase in domestic prices, due to strong local competition and transportation problems in May, according to national flat steel association Inda. "Bookings made in May, at old prices, have been delayed due to transportation problems," Inda president Carlos Loureiro said on Tuesday June 19. Because of this, steelmakers made...Read More
CloseGain/LossGold $1269.50-$6.00Silver$16.30UNCHXAU81.25-0.52%HUI175.44-0.80%GDM611.50-0.75%JSE Gold1075.67+3.70USD95.09+0.05Euro115.83-0.01Yen90.73-0.34Oil$66.22+$1.1510-Year2.936%+0.046T-Bond144.50-0.4375Dow24657.80-0.17%Nasdaq7781.51+0.72%S&P2767.32+0.17% The Metals: Gold dipped $4.20 to $1271.30 in London before it bounced back to $1276.20 in morning New York trade,...Read More
By Ira EpsteinGold still weak.https://www.iraepstein.com/ Read More
By Craig HemkeLast week, we updated the incredible surging amount of total COMEX "Exchanges For Physical". Much has changed in the past few days, so with some additional data in hand we thought we should re-visit the topic this week. If you missed last week's post, you can find it here. Please look it over before we begin: https://www.sprottmoney.com/Blog/comex-efp-use-con... As stated last week...Read More
By RambusJust a quick update on a few of the GLD charts we've been following closely. Below is the daily line chat which shows the breakout from the blue triangle that formed as the backtest to the larger 5 point bearish falling wedge reversal pattern. The bulls tried as hard as they could but they couldn't take out the bottom rail of the falling wedge reversal pattern. Friday's decline was on h...Read More
By Avi GilburtEveryone wants to buy at the absolute bottom in any market. Yet, most actually buy at the highs, expecting much higher prices, and then sell at the lows, while expecting even lower prices. The gold market is no different.Back in 2011, when the metals were approaching their highs, most analysts were suggesting that investors keep buying gold as this would be their last opportuni...Read More
A Monday Morning Musing from Mickey the Mercenary GeologistContact@MercenaryGeologist.comThe usually suspect gold bugs and perma-bulls have been quite noisy over the last few weeks trying to convince bullion traders and stock speculators that the price of gold and ergo, the market capitalization of gold stocks are on the verge of a big break-out to the upside. And the unholy believers amongst th...Read More
Although the broad averages have risen sharply in each of the last three sessions, none of these short-squeeze lollapaloozas has recouped the even bigger losses sustained earlier in the day. Do we detect a pattern here? The biztainment media seem to wax enthusiastic whenever stocks trampoline off some ugly low like Tuesday's. But we shouldn't lose sight of the fact that if the three-steps-down,...Read More
Weaker Asian currencies have resulted in gold and silver prices not falling by much. As long as the physical gold price in India does not fall below Rs.30500 per ten grams for 22carat purity, downside risk will be limited. I do not foresee the physical gold price falling below Rs.30500 per ten grams for 22carat purity till Diwali. The Indian rupee has to gain against the US dollar significantly...Read More
The comments below are an edited and abridged synopsis of an article by Adam TaggartAs the Fed kicked off its second round of QE in the aftermath of the Great Financial Crisis, hedge fund manager David Tepper predicted that nearly all assets would rise tremendously in response."The Fed just announced: We want economic growth, and we don't care if there's inflation... have they ever said that befor...Read More
The comments below are an edited and abridged synopsis of an article by Andy SuttonWashington's stranglehold over financial markets can be partially explained by the fact that all oil exports are conducted in US dollars. This relationship between oil and currency gives the dollar its value, as this paradigm requires all exporting and importing countries to maintain a stock of US dollars.An endless...Read More
David Stockman appears on "After the Bell" (Fox Business Network, June 20, 2018)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he...Read More