There will soon be a pungent smell wafting through the Windy City...Illinois just became the 11th state to legalize recreational cannabis when Governor J.B. Pritzker signed the bill into law on Tuesday. It was the first state to do so through the legislature - not a ballot initiative - meaning that the politicians are now comfortable enough with cannabis to pass these laws on their own.This is a b...Read More
Gold closed the month of June and the quarter above $1400/oz, holding the majority of its recent gains. That does not necessitate continued strength but it is a good sign.The technicals and fundamentals are finally in place for Gold.It is outperforming all major currencies and the Federal Reserve is weeks away from beginning a new cycle of rate cuts. The U.S. Dollar has lost its uptrend.The near-t...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The S&P 500 posted a record closing high even as investors worried about a fresh U.S.-EU tariff dispute. Anheuser-Busch InBev (BUD) rose on news that the world's biggest brewing company and maker of Budweiser beer is planning a Hong Kong listing of its Asian business that could raise around $10 billion. Amarin (AMRN - Get...Read More
Treatment charges (TCs) for lead concentrates rose in June after a price arbitrage that encouraged imports closed off, and major supplying mine Pe??asquito returned to the market after a month-long layoff.Fastmarkets assessed TCs for low-silver lead concentrates at $20-30 per tonne on Friday June 28, up from a 19-month low of $5-15 per tonne on May 31.A closed import arbitrage into China was exace...Read More
The London Metal Exchange three-month tin price fell by 7% on Tuesday July 2, spanning an intraday range of $17,585-18,980 per tonne. Traders and analysts described the move as a technically-led retreat for the metal. Some 1,289 lots of material changed hands by the afternoon kerb on the same day; the most tin traded since June 2017, with an approximate market value of $113 million. This sharp sel...Read More
Tin's three-month price on the London Metal Exchange was down by around 3% during morning trading on Tuesday July 2, with market participants pondering the metal's sudden decline against sizeable volumes traded. The flurry of selling activity in tin took place mostly overnight, with the metal reaching an intra-morning high of $18,980 per tonne at around 1:10am London time, before declining to curr...Read More
(Corrects last paragraph to say platinum prices fell 0.2% to$828.75 an ounce and not rose 0.87% to $1,560.51.) * SPDR Gold holdings rose 0.78% on Monday * U.S. threatens tariffs on $4 bln of additional EU goodsBy Diptendu LahiriJuly 2 (Reuters) - Gold prices rose 1.5% on Tuesday, a dayafter posting the biggest one-day percentage fall in 2-1/2years, as U.S. Treasury yields fell on worries over glob...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comJuly 2, 2019 Major fundamental processes and events create the large chart patterns seen on the monthly charts. It’s important for gold and stock market investors to stay focused on the big picture, both technically and fundamentally. To view the big technical picture for gold, pleas...Read More
Polymet said it raised about US$265 million by issuing the full allotment of almost 683 million shares pursuant to the offering, with Glencore acquiring more than 627 million shares to take its stakeRead More
Treatment charges (TCs) for lead concentrates rose in June after a price arbitrage that encouraged imports closed off, and major supplying mine Pe??asquito returned to the market after a month-long layoff.Fastmarkets assessed TCs for low-silver lead concentrates at $20-30 per tonne on Friday June 28, up from a 19-month low of $5-15 per tonne on May 31.A closed import arbitrage into China was exace...Read More
(Corrects headline to 2-week) * GRAPHIC-2019 asset returns:* Tin price hits a 7-month lowBy Pratima DesaiLONDON, July 2 (Reuters) - Copper prices slid to two-weeklows on Tuesday as the spotlight fell on gloomy prospects foreconomic growth and demand after a batch of weak manufacturingactivity data from around the world.Benchmark copper on the London Metal Exchange wasuntraded at the close, but bid...Read More
August Gold pulled a Pearl Harbor on bears and skeptics Tuesday, reversing early morning weakness with a surprisingly sharp rally. I'd expected another two weeks of corrective action myself after bullion's impressive run-up in June. However, the chart shows the futures to be bound most immediately for at least 1446.90. If so, that would be a new recovery high and an encouraging sign that even b...Read More
Stewart Thomson, Graceland Updates 1. Major fundamental processes and events create the large chart patterns seen on the monthly charts. It's important for gold and stock market investors to stay focused on the big picture, both technically and fundamentally.2. To view the big technical picture for gold, please click here now. Double-click to enlarge. 3. Since 2001, my propriet...Read More
By: Ira EpsteinGold 18-DMA support $15 away:Read More
Stocks remained in the grip of a low-grade euphoria Monday, lightened by what is being referred to in the news as a 'thaw' in trade relations between the U.S. and China. No one expected much to happen on the trade front, and nothing much did other, perhaps, than a weekend during which there was no appreciable escalation in the tariff war. In this euphoric phase, stocks have generally wafted hi...Read More
Ferro-silicon prices in China increased sharply in the week ended Friday June 28, following a steady run of five weeks, after lower output and higher futures prices encouraged suppliers to raise their offers ahead of monthly tenders from Chinese steel mills.In Europe, the market has stemmed losses after a sharp fall the week before, but prices are seen as fragile in the near term because some cons...Read More
Speaking with Mining Journal just over a year after a public listing in Stockholm that marked its big split from Atlas Copco, Epiroc president and CEO Per Lindberg said the mining-dominated businessRead More
The European and Chinese vanadium markets weakened again in the week to Friday June 28 because of subdued summer demand and low spot liquidity. China export ferro-vanadium price nudges down amid weakness in domestic, European marketsEuropean ferro-vanadium continues to fall amid limited spot activityEuropean, Chinese V2O5 prices mostly unchanged; spot activity remains scarceUS market flat amid in...Read More
The death toll at the Katanga mine is said to have risen from 19 to 43, with the illegal miners working in two galleries that caved in on Thursday in benches overlooking the excavation area. Glencore owns 86.3% of Katanga Mining (TSX: KAT), which runs the mine through its 75%-owned Kamoto Copper Company in a joint venture with state-owned Gécamines.Glencore has said up to 2,000 illegal arti...Read More
The price of magnesium in Europe has fallen over the past month, reaching a fresh 2019 low amid resumed demand but continuing oversupply.Fastmarkets assessed the price of magnesium, in-warehouse Rotterdam, at $2,470-2,550 per tonne on Friday June 28, unchanged week on week on limited activity, but after two consecutive weeks of falls."Lately, there have been a lot of aggressive bids on tenders in...Read More