By: Ira EpsteinGold remains in this congestion zone. Will it breakout? Fighting a battle..Read More
Expected interest rate cuts by all the central banks is supporting gold at the moment. European central bank is expected to cut interest rates in September. Trade war theme is still there. In short, all the factors are bullish for gold. Investment demand is on the rise with passing of each week. Economic growth news will be the key. Measures (other than interest rate or different forms of quan...Read More
Czech steelmaker Liberty Ostrava is increasing its steel prices by ?,?20 ($23) per tonne to partially offset an increase in production costs, the company told Fastmarkets on Tuesday July 16. "Recent increases in raw materials and energy costs and the prevailing steel prices in Europe necessitate an immediate response to avoid further margin squeezes for our steel business," the company said.O...Read More
Turkish steel producers remained quiet in the deep-sea scrap markets, awaiting some signs of recovery in the finished steel sector, sources said on Tuesday July 16.The last verified scrap deal was on July 9 when a steel mill in the Iskenderun region booked a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20).Since then, Turkish steel mills have stayed away from the deep-sea markets...Read More
Nickel's three-month price on the London Metal Exchange continued its rally throughout afternoon trading on Thursday July 18, closing just below $15,000 per tonne amid a continued flurry of technical buying and a seven-year low in LME stocks. Nickel's three-month price on the LME closed at $14,850 per tonne, climbing over 5% from an intraday low of $14,300 per tonne to trade at an intraday high of...Read More
One speculator may be rolling down their September putsOil prices are plunging today, extending a recent slide that has the front-month crude contract down more than 8% week-to-date. Accordingly, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is 8.5% so far this week -- off 0.9% today at $24.42 -- prompting one options bear to set their sights even lower.Taking a quick step back, XOP pu...Read More
Wells Fargo trimmed its TIF price target and earnings estimatesOn Monday, Tiffany & Co. (NYSE:TIF) was hit with a downgrade from Citi. Today, the luxury retailer received another bear note,this time from Wells Fargo, which trimmed its price target to $88 from $90. The analyst in coverage warned that Tiffany's "domestic business has historically decelerated in election years," and said political...Read More
Ecuador's first large-scale open pit mining operation Mirador copper mine, in which Chinese copper smelter Tongling Non-ferrous owns a 70% stake, has been commissioned as of July 18, a report on Tongling Non-ferrous' website said.Construction of the project, located in the Zamora Chinchipe province of Ecuador, started on December 21, 2015.The facility is an entirely China-invested, designed, built...Read More
AXP has been climbing the charts since late DecemberFinancial giant American Express Company (NYSE:AXP) is 1% higher this afternoon at $128.41, ahead of the company's quarterly report, slated for before the market opens tomorrow, July 19. Below, we will take a look at how AXP has performed on the charts, and see what the options market is pricing in for the shares' post-earnings move.American Exp...Read More
ERI pulled back to a historically bullish trendline on the chartsCasino concern Eldorado Resorts Inc (NASDAQ:ERI) hit an all-time high in late June, before gapping lower on confirmation the firm is buying Caesars Entertainment (CZR). The stock came close to filling the bear gap earlier this month following a bounce off its 320-day moving average. ERI has once again pulled back to this historicall...Read More
Harley-Davidson and McDonald's are also set to report earningsThe last full trading week of July will be light on the economic front, though Wall Street will get a first glance at second-quarter gross domestic product (GDP). The earnings calendar is chock-full of notable names, though, with quarterly reports from Dow components Boeing (BA) and Caterpillar (CAT) on the radar. Earnings from FAANG na...Read More
UNH is the biggest blue-chip loser The Dow Jones Industrial Average (DJI) is down triple digits at midday, trudging toward its third straight loss. UnitedHealth (UNH) is the biggest blue-chip loser, despite an earnings win, overshadowing a well-received report for IBM Corp (IBM). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the red and on track for three-day skids of their ow...Read More
Deutsche Bank weighed in with fresh "buy" endorsementsAnalysts at Deutsche Bank weighed in on several biotech stocks this morning, including Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) and Sutro Biopharma Inc (NASDAQ:STRO). The brokerage firm initiated coverage of both DCPH and STRO stocks with a "buy" rating, and their new respective price targets of $42 and $22 suggest the analysts think the equ...Read More
Export prices for pig iron from the Commonwealth of Independent States (CIS) increased in deals this week, due to reduced availability, sources told Fastmarkets.Fastmarkets' weekly price assessment for high-manganese pig iron exports, fob main port Black Sea, CIS $/tonne was $340-345 on Thursday July 18, up by $5 per tonne week on week. Several sales were heard done to the United States&...Read More
This essay by gold advocate and longtime GATA supporter Willem Middelkoop, author of the 2014 book "The Big Reset," has top position today at the internet site of the Official Monetary and Financial Institutions Forum in London, an organization catering to government and central bank officials around the world. The essay acknowledges the longstanding policy of central banks and particularly the...Read More
By: Ira EpsteinGold remains in this congestion zone. Will it breakout? Fighting a battle..Read More
COLORADO SPRINGS, July 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") reports preliminary production results for the second quarter ended June 30, 2019 of 9,559 ounces of gold, 467,484 ounces of silver and significant base metals. The Company currently maintains its 2019 Oaxaca Mining Unit production outlook and plans to increas...Read More
Expected interest rate cuts by all the central banks is supporting gold at the moment. European central bank is expected to cut interest rates in September. Trade war theme is still there. In short, all the factors are bullish for gold. Investment demand is on the rise with passing of each week. Economic growth news will be the key. Measures (other than interest rate or different forms of quan...Read More
The Turkish steel mills have broken their recent silence in the deep-sea scrap markets and have accepted higher prices, sources said on Thursday July 18.Despite the falling prices for finished and semi-finished long steel, the Turkish mills agreed to pay higher prices for scrap because of their requirements for August-shipment cargoes.A steel mill in the Marmara region booked a Baltic Sea cargo la...Read More