With everything that's been happening with the stock market lately, people have forgotten about last year's biggest investment story:Bitcoin.After briefly topping off around $20,000 in December, today it's trading around $9,000.A lot of bad news has come to the bitcoin ecosphere. China, for example, recently ordered its banks to stop providing financial services for any cryptocurrency-related tran...Read More
Imagine...A pack of robot dogs, each the size of a Doberman, roaming through cities and towns, communicating wirelessly, navigating any obstacles in their path. Even opening closed doors with ease.Scary right?But this isn’t an idea for a new Hollywood blockbuster.Its real life. Taking place right now in the U.S., at Boston Dynamic's laboratories.Engineer's aptly named the 4-legged robot Spot...Read More
Stocks continue to stabilize following last week's gut-wrenching drop.But there's a much more serious threat coming to light. This threat is more pressing than terrorism or natural disasters, according to the CIA, FBI, and NSA. And it's quietly reigniting a forgotten market trend.The Senate Intelligence Committee declared cybersecurity its most pressing concern at yesterday's annual worldwide thre...Read More
I still remember that guilty feeling in the pit of my stomach... the day I knowingly broke the law.It was my first year working at a hedge fund and I was still just learning the ropes.With a tight schedule (and a limited family budget - none of my bonuses had kicked in yet), I was driving my beat-up Honda Civic to a lunch meeting.Accelerating onto Georgia Highway 400, I suddenly remembered I was o...Read More
Stake in SPDR Gold rises to 3.91 million shares, filing showsHedge fund boosts stake in Newmont, cuts position in BarrickDalio's Bridgewater Boosts Holdings in GoldBillionaire hedge fund manager Ray Dalio boosted his holdings in the two largest gold-backed ETFs last quarter before prices of the metal capped the biggest annual gain in seven years.As of the end of December, Dalio’s Bridg...Read More
Bullion advances for a third day, dollar sags before U.S. dataDalio's Bridgewater added bullion assets in final qtr of 2017AMP's Oliver Sees 4 to 5 Fed Rate Hikes in 2018Gold held gains as the dollar slipped, with investors counting down the hours before key U.S. inflation data that may offer fresh clues on monetary tightening. Adding luster for the metal, filings showed billionaire hedge fund man...Read More
Endeavour Silver plans to increase production and cut costs this year.In my opinion, it can be difficult to meet 2018 production guidance.I believe that the company's shares are fairly valued now; as such, they are simple options on silver/gold prices and nothing more.However, in the long term the company's value depends on the Terronera project.On January 25, 2018, Endeavour Silver (EXK),...Read More
The latest news and price moves to start the Asian day on Thursday February 15.Base metals prices on the London Metal Exchange took advantage of the weakening dollar to close higher almost across the board on Wednesday February 14, with nickel leading the charge to a fresh 2018 high. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Molybdic oxide and ferro-m...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellAbida Khan, a California investment adviser who recently received four years in jail for helping Vancouver-linked fraudster Ed Durante, has appealed her sentence and conviction. She has not yet stated her reasons for appealing, but she previously blam...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for March delivery lost 10 cents to $59.19 on the New York Merc, while Brent for April gained 13 cents to $62.72 (all figures in this para U.S.). Western Canadian Select traded at a discount of $22.75 to...Read More
Rosatom and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo have signed a Memorandum of Understanding (MoU) on cooperation in the peaceful uses of nuclear energy.Spassky and Maduka at the signing ceremony in Moscow (Image: Rosatom)The document was signed yesterday in Moscow by the Russian state nuclear corporation's deputy director general for internation...Read More
Copper concentrate treatment and refining charges (TC/RCs) dropped marginally in the first half of February after traders purchased nearby tonnages from mines at increasingly competitive levels and smelters eased off buying ahead of New Year holidays in Asia. The Metal Bulletin copper concentrates index dropped by 3% to $69.50 per tonne/6.95 cents per lb from $71.60/7.16 cents at the end of J...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close on Thursday February 15, with only aluminium prices falling. The three-month copper price briefly breached the $2,200 per tonne mark before retreating - but closed $19 per tonne higher. It has closed in positive territory every day this week. "We think that both LME and Comex speculators have got too bearish in their p...Read More
Comex copper prices failed to maintain momentum in morning trading on Thursday February 15 after hitting a multi-week high earlier in the week, with the complex now in consolidation mode. Copper for March settlement on the Comex division of the New York Mercantile Exchange dipped 1.55 cents or 0.5% to $3.2205 per lb. The contract had been on a three-day rally. "The base metals complex enjoyed a st...Read More
Portfolio manager John Stephenson says that while there is plenty to keep investors up at night these days, equity markets still remain the best relative alternative in a world of expensive alternatives. Markets will continue chugging higher in the coming year, he says, and picks a tech stock, a mining stock and an oil and gas stock that will perform well.Markets have been hitting new highs, with...Read More
The Fed added $11 billion to its SOMA account for the week ending yesterday. It purchased $11 billion in mortgage securities directly from banks. This injects $11 billion into the banking system. Cash is "high powered" money, meaning it can be leveraged 10x (banks need to hold 10% in reserves against "high powered" money. $11 billion is $110 billion of leverage for the banks to use for activities...Read More
The current "debt ceiling" has been suspended until March 2019. The current amount of Treasury debt outstanding is $20.681 trillion. It has been estimated that the amount of Treasury outstanding by March 2019 will be as high as $22 trillion. U.S. Government has, for all intents and purposes, operated without a constraint on debt issuance since 2013:Beginning in 2013, Congress has taken to temporar...Read More
South32 recorded a 87% year-on-year increase in earnings before interest and tax (Ebit) for the half year to December 31, 2017 at its South Africa Manganese division. The division generated $86 million from revenues of $228 million compared with $175 million for the same period the year before. The miner's Australia Manganese division recorded Ebit of $299 million, up 44% year on year, while reven...Read More
The South African rand approached a three-year high against the US dollar on Thursday February 15 following the resignation of President Jacob Zuma on Wednesday, after nine years in charge.The rand was trading at 11.67 to the dollar at 13.55 London time on Thursday, after closing at 11.82 on Wednesday. Cyril Ramaphosa, the multi-millionaire businessman and former lawyer and activist, has been swor...Read More
Copper concentrate treatment and refining charges (TC/RCs) dropped marginally in the first half of February after traders purchased nearby tonnages from mines at increasingly competitive levels and smelters eased off buying ahead of New Year holidays in Asia. The Metal Bulletin copper concentrates index dropped by 3% to $69.50 per tonne/6.95 cents per lb from $71.60/7.16 cents at the end of J...Read More