Global markets continued to fall this week as the fall in commodity prices continued unabated. Both the TSX Composite and Venture Indices fell to 52-week lows on the back of continued falling oil prices, led by WTI crude which fell below the $30 per barrel level for the first time since 2003 as Iran prepared… Continue Reading
As the end of the 2015 approaches, both investors and mining companies are restructuring their portfolios, either via tax-loss selling through struggling investor portfolios, or cutbacks on production and spending by miners. This week saw a number of mining companies announce restructuring plans. This included Anglo American (AAL-LON), who announced it would cut approximately… Continue Reading
The growth outlook in both Asia and Europe, in addition to retail sales in the U.S., all conspired to batter metal prices this week, resulting in significant declines in mining equities. This was reflected in the S&P/TSX Global Base Metals and Global Mining Indices, which both fell to 52-week lows, finishing at 68 and 45.3… Continue Reading
Positive sentiment continued in the mining sector this week, despite most commodities failing to maintain last week’s price rally. In what could be viewed as the turnaround the mining sector has been waiting for, investors were relieved that metal prices stabilized – as opposed to previous metal price rallies of late that have remained short-lived,… Continue Reading
It was a positive week for commodities, with all metals moving upward. Precious metals received a boost after the release of the minutes from the Federal Reserve’s meeting in September, painting a more dovish tone and putting the possibility of an interest rate rise in 2015 into doubt. In turn, the US dollar fell against… Continue Reading
It was a bad start to the week for a number of top multi-commodity miners on the back of persistently low base metal prices. Copper in particular fell last week from just under $2.45 per pound down to as low as $2.22 per pound in intraweek trading on Tuesday (this week), before rebounding late in… Continue Reading
After last week’s announcement from the Federal Reserve to maintain interest rates at near-zero, its decision to do so appears justified following a spate of disappointing early-week economic data, headlined by lower Purchasing Managers Index (PMI) readings for China and the Eurozone. Markit also released its PMI reading for the United States, which currently sits… Continue Reading
This week’s Weekly Dig from the Haywood Mining Team Companies covered include Sabina $SBB, Asanko $AKG, Nevsun $NSU, Orezone $ORE, Lake Shore $LSG, Roxgold $ROX, Klondex $KDX, and Pilot Gold $PLG. Here’s the link: http://cdn.ceo.ca/1avp4bi-MMSep182015_CEO_secure.pdf www.Haywood.com
Global markets greeted the Chinese holidays on Thursday and Friday with relief following the capitulation of Chinese stock markets and the high volatility experienced by global equities and commodities in recent weeks. This capitulation continued early in the week on the back of China’s official manufacturing PMI index, which fell below the 50 mark in… Continue Reading
The price of gold reaffirmed its status as a safe haven asset as global equity markets capitulated, with most other commodities following suit. Gold continued its rise above $1,100 from last week, piercing the $1,150 support level on Thursday. Leading the push into gold, the dire state of the Chinese economy is becoming more apparent… Continue Reading
Precious metals, particularly gold, received a welcome boost early in the week after the People’s Bank of China (PBOC) unexpectedly lowered the reference rate of the yuan, a move that drew further criticism from the U.S.; China’s manipulation of the yuan has been viewed as a means to protect exports; however, China have argued the… Continue Reading
It seems like an eternity since the S&P/TSX Venture Index pierced the 2,450 mark in March 2011; since then it has collapsed almost 2,000 points, or over 75%, as junior mining equities tumbled in response to falling commodity prices, headlined by gold’s fall from $1,900 per ounce in July 2011 to below $1,080 per ounce… Continue Reading
Focus continued to shift from Europe to the Federal Reserve and the timing of a potential interest rate hike. While the Fed kept interest rates at near zero this week, as expected, the governing body of the central bank continued to remain bullish on the U.S. economy, fueling market expectations that interest rates will be… Continue Reading
With Greece now likely to stay in the European Union for the time being, market focus shifted to a more ‘risk on’ appetite with investors now ensconced in quarterly reporting. Newly released macro data from various Eurozone countries show signs of growth, but lower than estimated jobless claims in the US further highlighting the market’s… Continue Reading
Global Markets Rattled as Shanghai Index Crashes and Grexit Looms The ongoing Greek crisis and the continued collapse of the Shanghai and Shanzhen Indices (subsequently rebounding Thursday and Friday) dominated news during the week, with commodity prices and mining equities crashing; the S&P/TSX Global Mining Index fell below the 57 mark before recovering slightly at… Continue Reading
