* Discounts widen in India, jewellers hold off on fresh purchases* Activity quiet in China, premiums narrow to $5-$6.50/oz* Singapore premiums ease slightly to $0.50-$0.60/ozDec 14 - Demand for physical gold was lacklustre in major Asian hubs this week as high prices dented bullion's appeal going into the holiday season, with buying interest in second biggest consumer India likely to be subdued fo...Read More
* Discounts widen in India, jewellers hold off on fresh purchases* Activity quiet in China, premiums narrow to $5-$6.50/oz* Singapore premiums ease slightly to $0.50-$0.60/ozDec 14 - Demand for physical gold was lacklustre in major Asian hubs this week as high prices dented bullion's appeal going into the holiday season, with buying interest in second biggest consumer India likely to be subdued fo...Read More
Nigeria's first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co Ltd., the local company developing it.The refinery will initially be able to produce 3 metric tons of gold each month, and 1 ton of silver, Kian Smith said in a statement. The company said it will supply the nation's central bank, as well as...Read More
Nigeria's first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co Ltd., the local company developing it.The refinery will initially be able to produce 3 metric tons of gold each month, and 1 ton of silver, Kian Smith said in a statement. The company said it will supply the nation's central bank, as well as...Read More
ITM options are more conservative, while more aggressive traders may prefer OTM contractsWhen selecting the right option to buy, a trader has several choices to make. One is whether to purchase an in-the-money (ITM) or out-of-the-money (OTM) option. While the goal for "vanilla" buyers is to have the option be in the money at expiration, the selected option depends on the amount the trader wants to...Read More
Canada's Dominion Diamond Mines and Rio Tinto shocked the market on Friday by unveiling what is believed to be the largest diamond ever found in North America, measuring in about the size of a chicken-egg.The 552-carat yellow gem quality stone, unearthed in October, measures around 3cm by 5.5cm, almost three times the size of the next largest stone ever found in Canada, Dominion - which owns 40% o...Read More
Canada's Dominion Diamond Mines and Rio Tinto shocked the market on Friday by unveiling what is believed to be the largest diamond ever found in North America, measuring in about the size of a chicken-egg.The 552-carat yellow gem quality stone, unearthed in October, measures around 3cm by 5.5cm, almost three times the size of the next largest stone ever found in Canada, Dominion - which owns 40% o...Read More
Canada's Dominion Diamond Mines and Rio Tinto shocked the market on Friday by unveiling what is believed to be the largest diamond ever found in North America, measuring in about the size of a chicken-egg.The 552-carat yellow gem quality stone, unearthed in October, measures around 3cm by 5.5cm, almost three times the size of the next largest stone ever found in Canada, Dominion - which owns 40% o...Read More
In his latest Howestreet.com broadcast with Jim Goddard, INK CEO Ted Dixon worries that the Fed is looking backwards at positive US economic data instead of forwards at warning signs such as housing. If the Fed does not hold up on its rate hikes, they risk going too far. American insiders and stocks in the U.S. Financials sector are still not confirming a base in share prices and the Fed is proba...Read More
The shares are testing a familiar ceiling on the chartsIntercept Pharmaceuticals Inc (NASDAQ:ICPT) stock has handily outperformed the broader equities market in 2018, up 83% year-to-date. However, the shares of ICPT recently flashed what's been a historical sell signal, suggesting now may be time for bulls to take profits -- or perhaps pick up some short-term options insurance. Specifically, the d...Read More
LONDON - Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1 billion, two sources familiar with the matter said.Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this year set up a special committee to identify strategic alternatives including joint ventures and a...Read More
LONDON - Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1 billion, two sources familiar with the matter said.Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this year set up a special committee to identify strategic alternatives including joint ventures and a...Read More
Getty ImagesA worker installs parts in a Mercedes-Benz C-Class frame as they move down the production line at a factory in Alabama. The numbers: Industrial production rose 0.6% in November, the strongest gain in three months, the Federal Reserve reported Friday, on the back of strong mining and utility output. The increase in November output was above Wall Street expectations of a 0.4% increase....Read More
It's been a whirlwind week for the shipping expertIt's been a volatile week for XPO Logistics Inc (NYSE:XPO), which plunged nearly 10% on Wednesday after the company cut its 2019 adjusted EBITDA forecast, and dropped more than 26% yesterday -- hitting a two-year low of $41.05 along the way -- in the wake of a "strong sell" rating and scathing note from Spruce Capital. Today, XPO stock is up 5.8% a...Read More
Chinese battery maker GEM Co. has halted buying cobalt from Glencore Plc after prices fell below the agreed level under a three-year contract signed earlier this year, according to a person familiar with the matter.Cobalt prices have dropped more than 25 percent since a peak in April amid growing concerns that too much supply has been brought online in response to surging prices. Last week Glencor...Read More
REGN is on track for its third straight weekly winThe shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) are up 0.9% to trade at $381.87, after Goldman Sachs upgraded its rating on the stock to "buy" from "neutral," adding it to its Conviction Buy list in the process. The covering analyst is bullish on the company's pipeline of products. The upbeat price action today could help Regeneron stock...Read More
Ontario's Government for the People is supporting innovation in Sault Ste. Marie, which will lead to modernization in the manufacturing industry and create nine full-time jobs.Today, Ross Romano, Parliamentary Assistant to the Minister of Energy, Northern Development and Mines, announced the Sault Ste. Marie Innovation Centre (SSMIC) is receiving $713,590 to create a team of information technology...Read More
Some options traders are betting on a huge TLRY declineWeed stock Tilray Inc (NASDAQ:TLRY) has been relatively quiet recently, at least compared to the noise it created back in September when it traded in a 150-point range in a single session, eventually topping out at an even $300. Since then, the shares have been sliding lower, yesterday notching their lowest close since August. It's been over t...Read More
Billionaire hedge fund manager John Paulson's success in ousting the bulk of Detour Gold Corp's board could serve as a "template" for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday.The Canadian mining company's shareholders voted for five board nominees backed by Paulson & Co at a special meeting on Thursday, and Detour's interim chief exe...Read More
Billionaire hedge fund manager John Paulson's success in ousting the bulk of Detour Gold Corp's board could serve as a "template" for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday.The Canadian mining company's shareholders voted for five board nominees backed by Paulson & Co at a special meeting on Thursday, and Detour's interim chief exe...Read More