Dragon statue in Shanghai covered in coins by joelwillis In a new report, Fitch analysts are revising up their 2020 copper price forecast to $5,900/tonne from $5,700/tonne as they now expect increased stimulus from the Chinese government to lift prices higher over the back half of the year. The research firm expects copper sentiment to remain subdued in the short term, thus weighing on pri...Read More
Buck project area. (Image courtesy San Marco Resources). San Marco Resources (TSXV: SMN) received a 5-year, area-based exploration permit for the Buck gold/silver/zinc project, located in British Columbia, western Canada.In a press release, San Marco said the permit allows for substantial drilling on the property, which will help test the known mineralized footprint, as well as outline additional...Read More
(Image courtesy of Roskill). A new report by Roskill suggests that the rising CO2 compliance costs that original equipment manufacturers within the automobile industry are facing in some jurisdictions are set to create a price parity between fully electric vehicles (BEV) and their internal combustion engine (ICE) counterparts.According to Roskill, the emission caps that some countries are impleme...Read More
The company posted a full-year loss attributable to shareholders of US$230.4 million, including a $105 million non-cash impairment on the carrying value of Kinsevere's oxide-related assets.Read More
God bless the Russkies...Oil prices continued heading lower on Friday as OPEC failed to convince Russia to agree to the additional production cuts the cartel was hoping for.Reuters reported overnight that a "high-level Russian source" told the news agency, "Moscow would not back an OPEC call for extra reductions in oil output and would only agree to extending existing OPEC+ cuts."OPEC was reported...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 366,17346,44085,359178,134529,145629,666660,944 Change from Prior Reporting Period -23,166-7,034-5,3691,515-23,095-27,020-35,498 Traders 22457835854315168 Small Speculators LongShortOpen Interest 62,31931,041691,985 -13,912-5,434-40,932 non reportable pos...Read More
- Rob KirbyIt's the wee hours of Friday morning, March 6, 2020 and I am tuned in to Bloomberg "Surveillance" business news host Mr. [CFR] Tom Keene. Global equity markets are flat on their backs, crude oil prices are collapsing to multi year lows and the $US dollar looks like it's preparing to do a swan dive into the Hudson River. Thank god we have the likes of ole Tommy Keene and the rest...Read More
By: Gary SavageI want to add a quick note on the jobs report. Today's number is important in that if the government tries to fake a good number the market will probably lose all confidence in government statistics and likely react badly. There is no scenario where the number can be good as we have already been feeling the effects of the virus scare for a couple of months. A good number will be...Read More
By: Ira EpsteinRead More
Another tumultuous week inequity and interest rate markets has helped fuel a big pop in safe-haven demandfor gold and silver. The major market moving eventwas, of course, the Federal Reserve’s emergency rate cut on Tuesday. The Fedslashed its overnight funds rate by 50 basis points. But even before the Fedacted, the bond market had already forced its hand as yields on the 10-yearTreasury not...Read More
Yesterday, the Fed cut interest rates by 50 basis points. Not during a regular monetary policy meeting, but in a surprising move. But what are the implications for the gold market specifically?Fed Cuts Interest Rates in Emergency MoveLast week, I wrote that the spread of the new coronavirus to Europe and the inversion of the yield curve make “the Fed more likely to step in and cut the federa...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 366,17346,44085,359178,134529,145629,666660,944 Change from Prior Reporting Period -23,166-7,034-5,3691,515-23,095-27,020-35,498 Traders 22457835854315168 Small Speculators LongShortOpen Interest 62,31931,041691,985 -13,912-5,434-40,932 non reportable pos...Read More
- Rob KirbyIt's the wee hours of Friday morning, March 6, 2020 and I am tuned in to Bloomberg "Surveillance" business news host Mr. [CFR] Tom Keene. Global equity markets are flat on their backs, crude oil prices are collapsing to multi year lows and the $US dollar looks like it's preparing to do a swan dive into the Hudson River. Thank god we have the likes of ole Tommy Keene and the rest...Read More
Stock-market volatility has exploded on COVID-19 fears, shattering the Fed's QE4-fueled levitation. The resulting stunning sentiment shift has left investors and speculators wondering where these wild markets are heading. This is an important time to check the latest fundamentals underlying the big US stocks that dominate market action. They just finished reporting their Q4'19 results, whi...Read More
By: Gary SavageI want to add a quick note on the jobs report. Today's number is important in that if the government tries to fake a good number the market will probably lose all confidence in government statistics and likely react badly. There is no scenario where the number can be good as we have already been feeling the effects of the virus scare for a couple of months. A good number will be...Read More
By: Ira EpsteinRead More
Canadian junior Star Diamond on Thursday started legal proceedings against Rio Tinto Exploration Canada (RTEC) to protect its interest in the Star-Orion South project, in Saskatchewan.Star Diamond last month flagged possible legal action over RTEC’s purported exercise in November 2019 of its four options under the option and joint venture agreement of June 2017, claiming that it did not comp...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesMICROMINE STRENGTHENS DATA MANAGEMENT SOLUTION WITH Geobank 2020SPONSOREDmicromineThe company posted a full-year loss attributable to shareholders of US$230.4 million, including a $105...Read More
Without fresh major stimulus announcements, markets have turned risk-off again this morning, Friday March 6. Market participants had been expecting the People’s Bank of China to announce some further stimulus after the United States Federal Reserve’s emergency 50-basis-point rate cut on Tuesday, but nothing has been forthcoming. The spread and impact of the novel coronavirus (2019-nCoV)...Read More
U.S. equity index futures moved lower again. S&P 500 futures dropped 87 points in response to increasing coronavirus concerns.Index futures recovered slightly following release of U.S. economic news at 8:30 AM EST. Consensus for February Non-farm Payrolls was a drop to 175,000 from an upwardly revised 273,000 in January. Actual was 273,000 Consensus for the February Unemployment Rate was a sli...Read More