* Copper resistance at 100-week moving average of $6,245 * LME copper stocks at lowest since March 2018 (Updates with closing prices) By Pratima Desai LONDON, Jan 2 (Reuters) - Copper prices rose towardseight-month highs on Thursday as demand expectations wereboosted by economic measures in China and optimism that theworld's top metals consumer would also sign a preliminary tradedeal with the Unit...Read More
(New throughout)By Kate DuguidNEW YORK, Jan 2 (Reuters) - The dollar recovered from asix-month low to add 0.44% on Thursday, the first trading day of2020, ending a four-day losing streak and a downbeat Decemberthat had left the index virtually flat at the end of 2019.Trading is likely to remain thin until Tuesday, when mostEuropean countries open after Monday's Epiphany holiday butmarket players w...Read More
Malaysia will impose anti-dumping tariffs of up to 26.39% on cold-rolled coil imported from China, Japan, South Korea and Vietnam. The import taxes will be in effect for five years from December 25, 2019, to December 24, 2024, Malaysia's Ministry of Trade and Industry (MITI) said earlier this week.The products subject to the duties are cold-rolled coils of iron or non-alloy steel, of...Read More
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Natural resources are likely to be a richer vein of upside in the early years of the 2020s. While uranium is still a possibility for growth if and when the clean fuel source comes back into fashion, electric vehicle batteries are going to continue driving capital gains. Lithium and copper stocks are likely to soar, and spot prices could stay strong, even if new mines come online to meet some of th...Read More
Today is Thursday, January 2, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,526.25. It's up 0.59% from yesterday and up 18...Read More
Today is Thursday, January 2, 2020, and this is your daily oil stocks roundup. Today we're looking at the valuations of Halliburton (NYSE: HAL), Hess Corporation (NYSE: HES), and Imperial Oil (NYSE: IMO).Halliburton (NYSE: HAL)Halliburton (NYSE: HAL) is a $21.55 billion company today with a one-year return of -7.94%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-value-to-free-cas...Read More
It was in 2005 that I made an audacious claim...The transition to a new energy economy had officially begun, the end of coal was upon us, and little by little, renewable energy was going to go from niche experiment to the second largest form of electricity generation in the United States.You would've thought I had burned a flag, spit on the grave of George Washington, and stole a ham sandwich from...Read More
- SRSrocco Gold continues to move higher due to trouble in the Fed Repo and U.S. Treasury Market. In the first hour of business today, the Fed has already injected $57 billion in the Repo Market. While the Fed's Repo Market injections did not spike at during the last few days of 2019, as many analysts forecasted, there's still BIG TROUBLE ahead. There have been many reasons attributed to t...Read More
- Stefan GleasonThe year ahead promises to be an eventful one. It will, of course, be dominated by political headlines leading up to the 2020 election. It could also be a big breakout year for precious metals.In the second part of Money Metals' 2020 Outlook, we'll drill down on the fundamental and technical setup for gold and silver...However, in this first part, we'll set the stage by digging i...Read More
Stewart Thomson 1. I predicted gold would bottom in mid-November and it did. Please click here now. Double-click to enlarge this fabulous daily gold chart. 2. A lot of amateur gold investors have missed this rally. That's partly because they thought the "smart money" was shorting a lot of gold on the COMEX. 3. What they probably overlooked was the possibility that the s...Read More
2019 was marked by a big rise in gold, silver and palladium rise among the metals. Natural gas was the biggest looser. UK Pound or cable as we call it was nosedived on brexit but also recovered lost ground after thumping mandate to Boris Johnson in UK elections. Japanese Yen and Euro traded mostly in a range and a trend. Indian rupee had weakened against the US dollar in 2019. There is massive d...Read More
By: Ira EpsteinGold daily chart in a resistance area, what to look for next:Read More
Fieldwork is being done on the property to further determine its upside potential. KORE Mining Ltd. (KORE:TSX.V; KOREF:OTCQB) filed a mineral resource estimate update on its Imperial oxide gold project in California, it announced in a news release. Prepared by SRK Consulting, the report outlines current resources of an estimated 877,000 ounces in the Indicated category, from 45.7 million tons of...Read More
Bob Moriarty of 321gold discusses the similarities between this project and the Witwatersrand deposit in South Africa. I've been writing about Novo Resources and their Witwatersrand lookalike deposit for over five years. Well, Quinton Hennigh is associated with another Wits lookalike, this time in Brazil. It wouldn't be the first time I wrote about a Wits deposit in Brazil, I was writing about De...Read More
The transaction is briefly reviewed and assessed in a BMO Capital Markets report. In a Dec. 23 research note, BMO Capital Markets analyst Jackie Przybylowski reported that IAMGOLD Corp. (IMG:TSX; IAG:NYSE) agreed to sell its 41% interest in the Sadiola gold project in Mali to Allied Gold for $31.15-33.65 million plus payments for two future sulphides-related milestones there. The deal is expected...Read More
The Canadian base and precious metals company will use the proceeds to explore its project in British Columbia. Tudor Gold Inc. (TUD:TSX.V) announced in a news release that it completed a nonbrokered private placement for gross proceeds of about $2.9 million. The transaction involved the sale of 4,185,714 flow-through Tudor common shares at $0.70 apiece by initial subscribers to certain entities,...Read More
The agreement pertains to future gold-silver concentrate produced at the company's Mexican operations. Great Panther Mining Ltd. (GPR:TSX; GPL:NYSE.American) announced in a news release that its subsidiary, Minera Mexicana el Rosario, S.A., entered into a $10 million concentrate prepayment agreement with IXM Group, a Geneva-based physical metals trader.IXM was set to advance Great Panther's subsi...Read More
Rick Mills of Ahead of the Herd breaks down the investment thesis behind his belief silver prices are poised to gallop ahead. Silver is expected to begin the next decade newly burnished, through a combination of higher industrial and investment demand, and tightened supply owing to mine production issues and output cuts. As December winds down and precious metals trade volumes dwindle, market ana...Read More
Technical expert Clive Maund charts the reasons the precious metals have entered a bull market.Gold is now a major bull market, as evidenced by its strong breakout from a giant 6-year long base pattern in August. The larger trend is up. We had thought that it might react back closer to the breakout point before turning higher again, but it didn't, and started higher again in recent days over the C...Read More