Nasdaq Commodities

(RTTNews) - Gold prices were sharply lower on Thursday as the U.S. dollar index climbed to a 19-month high on expectations of further tightening by the Federal Reserve.

(RTTNews) - Oil prices were modestly lower on Thursday, recouping some losses from earlier in the session after a senior Iranian official rejected one of Washinton's key conditions for peace talks, stating that the country would not surrender "a single atom" of its enriched mater

In trading on Wednesday, shares of Agnico Eagle Mines Ltd (Symbol: AEM) crossed below their 200 day moving average of $188.52, changing hands as low as $186.08 per share. Agnico Eagle Mines Ltd shares are currently trading off about 2.3% on the day. The chart below shows the o

(RTTNews) - Partially covering the losses from two previous sessions, crude oil prices have surged on Wednesday after strong remarks by Iranian leaders against the U.S. diminished expectations of an early reopening of the Strait of Hormuz.

(RTTNews) - Giving up an early advance and adding to the losses from yesterday's session, gold prices have edged lower on Wednesday after inflationary pressures returned to markets with Iran hardening its stance against the U.S. Coupled with hawkish comments from senior Federal R

A study of analyst recommendations at the major brokerages shows that Reliance Inc (Symbol: RS) is the #14 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Global Minin

(RTTNews) - Gold prices were a tad higher on Wednesday, after having tumbled in the previous session on concerns over rising inflationary pressures and expectations of another Federal Reserve rate hike in December.

(RTTNews) - Oil prices traded higher on Wednesday after a two-day decline as fresh tanker attacks in the Strait of Hormuz raised concerns over global oil supplies.

In trading on Tuesday, shares of AngloGold Ashanti plc (Symbol: AU) crossed below their 200 day moving average of $96.40, changing hands as low as $92.70 per share. AngloGold Ashanti plc shares are currently trading off about 5.4% on the day. The chart below shows the one year

(RTTNews) - Adding to yesterday's losses, crude oil prices have slumped again on Tuesday as concerns of U.S.-Iran re-escalation faded after U.S. President Donald Trump agreed to maintain a status quo in the U.S.-Iran crisis. This follows his remarks on Sunday when he stated that

(RTTNews) - Completely erasing the gains from Monday' session, gold prices have tumbled on Tuesday amid rising expectations of a higher interest rate regime in the U.S. in the near-term following comments from senior officials of the U.S. Federal Reserve on the necessity to comba

(RTTNews) - Completely erasing the gains from Monday' session, gold prices have tumbled on Tuesday amid rising expectations of a higher interest rate regime in the U.S. in the near-term following comments from senior Federal Reserve officials on the necessity to combat rising pri

A study of analyst recommendations at the major brokerages shows that Royal Gold Inc (Symbol: RGLD) is the #11 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Global M

Silver has lost about half its value since peaking in January, but major silver producers still delivered higher profits during the third quarter.Even after the slide, miners sold silver for roughly 60 to 80 percent more than they did a year earlier, enough for some producers to more than double or triple their net earnings.However, that cushion is getting thinner. Silver swung between US$55.29 and US$70.26 an ounce during the quarter on the LBMA benchmark and finished at US$60.73, close to where it started. Furthermore, the US Federal Reserve raised interest rates on September 16, pressuring precious metals broadly. And high prices began to cost silver one of its biggest sources of demand: early in the quarter, a leading Chinese solar panel maker said it would start replacing silver with copper, following similar moves by other panel makers. The Silver Institute expects silver use in solar to fall 19 percent this year.Mine supply offers little relief. The Silver Institute still projects a sixth straight market deficit in 2026, with global mine output flat. The third-quarter reports point the same way: Fresnillo, the largest producer in this group, cut silver output 11.6 percent, alongside other major producers also mining less silver than a year earlier.Read on for details on Q3 earnings from major silver producers. Pan American more than doubles net earnings, cuts gold guidance Pan American Silver (TSX:PAAS,NYSE:PAAS) reported Q3 net earnings of US$357 million, or US$0.86 per share, compared with US$169 million a year earlier. The company ran its silver mines more cheaply than planned in the third quarter, but problems at its gold operations forced it to lower its full-year gold forecast.Silver all-in sustaining costs (AISC) of US$11.21 an ounce came in below the company's quarterly outlook, and net earnings more than doubled from a year earlier to US$357 million. Pan American returned US$300 million to shareholders through dividends and buybacks during the quarter.The company now expects to produce 660,000 to 680,000 ounces of gold this year, below its original range of 700,000 to 750,000 ounces, and has raised its gold cost guidance by US$300 an ounce. Most of the shortfall stems from the Jacobina mine in Brazil, where Pan American is managing seismicity and fixing ventilation and secondary egress deficiencies flagged in an inspection by Brazil's National Mining Agency. That work will leave the mine processing lower-grade ore for the rest of 2026, and the company said it is still assessing the impact on 2027 production.Unplanned repairs to a grinding mill foundation at its Huaron mine in the fourth quarter, along with a higher gold-to-silver ratio at Cerro Moro, will also keep silver output at the low end of its 25 million to 27 million ounce guidance. Falling grades cut Fresnillo's silver output Fresnillo (LSE:FRES,OTCPL:FNLPF), which describes itself as the world's largest primary silver producer, is pulling less silver from the ground as ore grades at its key underground mines decline.Attributable silver output fell 11.6 percent from a year earlier to 10.3 million ounces in the third quarter, and production has dropped in each successive quarter this year. Updated geological models at the Saucito mine confirmed narrower veins and grades that fall more steeply at depth. At Juanicipio, which Fresnillo operates and co-owns with Pan American, silver grades fell by more than a fifth from a year earlier, a decline the company had anticipated. The end of the Silverstream contract also removed a source of ounces.Fresnillo kept its 2026 forecast of 42 million to 46.5 million ounces of silver. With 32.4 million ounces produced through September, it needs about 9.6 million in the fourth quarter to reach the bottom of that range."Production of gold and silver was in line with expectations in the third quarter and we remain on track to meet our full-year guidance," Chief Executive Octavio Alvídrez said in the company's production report.The flagship Fresnillo mine offered a counterpoint, lifting gold output 74.9 percent from a year earlier as grades exceeded what the company's geological model had predicted. Hecla reins in Keno Hill as Greens Creek delivers record cash Hecla Mining Company (NYSE:HL) will run its Keno Hill mine well below capacity until it secures permit amendments it expects around mid-2029, a setback for an operation that has yet to reach commercial production and had just set a quarterly milling record.The mine is running short of tailings storage, waste rock and water treatment capacity under its existing permits. Hecla plans to cut throughput to about 300 tons per day in the fourth quarter and lower it further from January 2027, holding that pace until the amendments arrive and the related infrastructure is built. The company said the decision was not driven by cost and that more selective mining should limit the hit to silver output.Greens Creek, in Alaska, generated a site-record US$147 million in free cash flow, lifting Hecla's total to a record US$151 million and leaving the company with US$692 million in cash and no debt outside finance leases. Hecla is also studying a pyrite concentrate circuit at the mine that could recover 1 million to 1.2 million ounces of silver a year that now goes to tailings, with intermittent output possible from late 2027 if the project wins permits and final investment approval.Hecla raised the low end of its 2026 silver guidance to 15.3 million ounces. Coeur's Canadian acquisitions make gold its main business Coeur Mining (TSX:CDE,NYSE:CDE) still produces more than 4 million ounces of silver a quarter, but its third-quarter results show how thoroughly gold now drives the business.Silver accounted for 27 percent of revenue, against 66 percent for gold, after Coeur added the New Afton and Rainy River operations in Canada. The new mines helped lift revenue 77 percent from a year earlier to US$1 billion.Silver output fell 12 percent to 4.2 million ounces, largely because of lower grades at Palmarejo in Mexico, where heavy rain also delayed deliveries of construction materials. Rain disrupted open-pit mining at Rainy River as well, and a conveyor belt failure in late August slowed New Afton until mid-September.Coeur is returning much of its cash to shareholders, spending US$111 million on buybacks in the quarter, about 46 percent of free cash flow. Chief Executive Mitchell J. Krebs said he expects "strong fourth quarter results to drive record full-year 2026 production and financial performance," including adjusted EBITDA of more than US$2 billion and free cash flow above US$1.3 billion at current prices. The company is targeting the low end of its production guidance ranges. First Majestic settles old tax disputes as a new one shuts San Dimas First Majestic Silver (TSX:AG,NYSE:AG) spent the third quarter clearing up old tax disputes with Mexico's tax authority, only to have a new dispute over taxes, this time with its own workers, shut its San Dimas mine.The company paid US$36.8 million to settle two reassessments tied to legacy forward silver purchase agreements and said all assessments linked to those agreements are now resolved, pending administrative steps by the authority. It has also agreed in principle on a framework to settle a separate legacy dispute over an advance pricing agreement previously obtained by Primero Empresa Minera.At San Dimas, operations have been suspended since a labour dispute broke out on September 18. Local leaders of the National Union of Mine and Metal Workers want the company to cover workers' income tax on an annual production bonus; First Majestic says Mexican law requires all employees to pay their own. The union declared a strike on October 8, First Majestic challenged its legality the next day, and the company expects a ruling in the second half of November. It has withdrawn San Dimas guidance in the meantime."While resolving the labour disruption at San Dimas is a priority, the company remains financially strong, supported by three producing operations that continue to perform at or above budget," Chief Executive Keith Neumeyer said.Higher silver prices nearly tripled net earnings from a year earlier to US$74.5 million even as silver output fell 11 percent, and First Majestic ended September with US$1.23 billion in treasury. Endeavour cuts Terronera costs Endeavour Silver (TSX:EDR,NYSE:EXK) has lowered operating costs at Terronera, its newest mine in Mexico, every quarter this year, just not quickly enough to stay within its original budget.Direct operating costs at the mine fell to US$155.52 per tonne in the third quarter from US$195.11 in the first, as Endeavour released contractors and shifted power generation from diesel to liquefied natural gas. The LNG transition took longer than expected, however, and an August blockade at the site cut throughput. Endeavour now expects Terronera's costs to average US$170 to US$180 per tonne this year, above previous guidance."At Terronera, we are particularly encouraged by the steady improvements in grades, recoveries and operating efficiencies achieved over the past three quarters," Chief Executive Dan Dickson said.Higher silver prices are changing the economics at the company's Guanaceví mine, where Endeavour can now economically mine lower-grade ore, a shift it expects to extend the mine's life. The company reset its 2026 silver guidance to 7.8 million to 8.1 million ounces after revising its Guanaceví forecast.With revenue up 29 percent, Endeavour swung to pretax earnings of US$39.5 million from a loss a year earlier. It ended September with US$287.9 million in cash as it advances its Pitarrilla project. Silvercorp's output slumps under China's new safety rules Silvercorp Metals (TSX:SVM,NYSEAMERICAN:SVM) lost more than 40 percent of its silver output in its fiscal second quarter, the three months to September 30, as new safety rules in China forced it to overhaul safety systems at its mines. The projects meant to diversify the company beyond China have run into delays of their own. At the Ying Mining District, its main operation, Silvercorp spent the quarter on safety upgrades required under new industry-wide regulations. The government has since inspected the work and approved a restart.The smaller GC mine faces a longer wait. China's mine safety regulator in Guangdong province suspended it in late June after finding its development had strayed from a 2014 mine design, and its safety production permit expired at the end of August. Silvercorp is targeting a restart in November 2027 and is weighing options for the mine, including a sale.In Ecuador, unusually heavy rain linked to El Niño slowed construction at the El Domo project, prompting Silvercorp to raise its budget to US$298.2 million and target first production in November 2027.Higher silver prices limited the financial damage, though revenue still fell 13 percent and adjusted earnings slipped to US$18.4 million from US$22.6 million a year earlier. Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

(RTTNews) - Gold prices declined on Tuesday after a strong rally in the previous session. Spot gold fell 1.4 percent to $4,084.11 an ounce after climbing almost 2 percent on Monday as falling oil prices helped ease inflation and rate-hike concerns. U.S. gold futures were down 0.6

(RTTNews) - Oil prices were sharply lower on Tuesday as hopes for a de-escalation in the Middle East reduced geopolitical risk premiums.

In trading on Monday, shares of Barrick Mining Corp (Symbol: B) crossed above their 200 day moving average of $41.88, changing hands as high as $42.86 per share. Barrick Mining Corp shares are currently trading up about 5.3% on the day. The chart below shows the one year perfo

The artificial intelligence (AI) investment boom is showing many of the hallmarks of a market bubble, with soaring valuations, rising leverage and increasingly speculative capital flows prompting warnings from veteran investors at the New Orleans Investment Conference.During a popular annual panel discussion titled “Booms, Busts and Bubbles,” mining financier Frank Giustra, market commentator Jim Iuorio and investor Grant Williams agreed that the enthusiasm surrounding AI has pushed markets into dangerous territory. However, they cautioned that recognizing a bubble is only part of the challenge. Knowing when it will burst — and how to protect capital before it does — is considerably harder.The discussion, moderated by Luma Financial founder and President Albert Lu, focused on the concentration of market gains in a handful of technology companies, the financing structures supporting AI infrastructure spending and the potential economic and social consequences of another major market correction.The S&P 500 (INDEXSP:.INX) has climbed from below 4,000 in 2022 to approximately 7,600 today, driven largely by the AI investment cycle that followed the launch of ChatGPT. AI infrastructure companies now account for roughly 90 percent of capital expenditures, while the sector contributes approximately 80 percent of S&P 500 earnings growth, Lu noted. But the scale of the rally is raising questions about whether investor expectations have moved too far ahead of underlying fundamentals. ​AI boom carries familiar bubble characteristics For Iuorio, the speed of the rally is an immediate warning sign."When you see a stock like Micron Technology (NASDAQ:MU) being up 300 percent in eight weeks' time, you have to know that something's up," he said, agreeing that the market is in a bubble.Giustra pointed to the Buffett Indicator, which compares total stock market capitalization with gross domestic product, as another indication of excessive valuations. The measure has reached approximately 240 percent, well above the 150 percent level recorded at the height of the dot-com bubble.Although today's leading technology companies generate substantial earnings, Giustra argued that this does not eliminate the risks associated with excessive spending and speculation."There will be a reckoning, and some of these companies will get destroyed," he said, warning that when the bubble bursts, the broader market will also suffer.The panelists acknowledged that AI could prove as transformative as previous technological breakthroughs, including railroads, automobiles, aviation and the internet. However, transformative technologies have not necessarily translated into successful investments at every stage of their development.Lu recalled that even investors who identified Amazon (NASDAQ:AMZN) as one of the strongest companies during the dot-com era would have experienced a loss of approximately 90 percent before its eventual recovery.Williams, who writes the "Things That Make You Go Hmmm..." newsletter, used the analogy of an approaching hurricane to describe the disconnect between recognizing market danger and taking precautions."If we told you a hurricane was heading to New Orleans, everybody would take precautions," he said. "The interesting thing about stock market bubbles is people don't really think about what can go wrong. They're still thinking about making money." Williams argued that investors often assume they will be able to exit their positions just before a market collapse, despite the speed at which financial conditions can deteriorate."Far too few people think about ... what's my exit strategy here? What do I need to be worried about?" he said. ​Investors weigh opportunity against capital preservation While the panelists agreed the market is overextended, their approaches to navigating the cycle are different. Giustra, who has been involved in financial markets since 1978, said he prefers to remain on the sidelines rather than chase valuations he considers historically excessive.He exited his US equity positions before the COVID-19 pandemic, explaining that his decision was based on valuations rather than an expectation of an impending crisis. He acknowledged that the move meant missing substantial market gains, but said preserving existing wealth has become more important than pursuing additional returns."At my age, I was going to preserve what I have instead of betting the farm," he said. Giustra distinguishes between the capital he puts at risk through his business activities and his personal investment portfolio — while he continues to invest in high-risk ventures, he is considerably more protective of the wealth he has already accumulated.For Williams, the distinction between uncertainty and risk is central to investment decisions."Uncertainty is the water we swim. We live in uncertainty every single day," he said. "The risks you take are the decisions you make in trying to deal with that uncertainty."Rather than attempting to eliminate uncertainty, investors should assess whether the risks they are taking are appropriate for their financial objectives and circumstances.Williams also emphasized the importance of holding capital back for opportunities that emerge after a market correction. He suggested that investors could eventually find attractive entry points in equities trading at significantly lower valuations, including companies offering dividend yields of 6 percent and trading at six times earnings.Meanwhile, Iuorio argued that investors do not necessarily need to avoid the market entirely. However, they should reduce position sizes and take profits as valuations rise."If you're not trimming, if you're not sizing your positions so when it all comes crashing down you won't be the one left in tears, then you're being foolish right now," he said. ​Leverage and private credit emerge as warning signs Beyond valuations, the panel identified leverage as one of the most important indicators to monitor for signs of a market breakdown. Lu highlighted AI infrastructure company CoreWeave (NASDAQ:CRWV), pointing to its debt-to-equity ratio of more than 10 and borrowing costs of approximately 15 percent. He also raised concerns about financing structures that use NVIDIA (NASDAQ:NVDA) graphics processing units as collateral, despite the hardware's relatively short depreciation cycle.The structure raised comparisons with the financing practices that contributed to the 2008 global financial crisis.Iuorio said he would avoid CoreWeave, describing its financial structure as concerning. However, he identified corporate earnings as a more immediate indicator of whether the AI trade is losing momentum.He is watching for a scenario in which companies report strong earnings, but their share prices decline anyway — a potential sign that positive results are no longer enough to sustain investor enthusiasm.NVIDIA will be particularly important because of its central position in the AI investment cycle."If NVIDIA posts fantastic earnings and still gets hit, to me it'll be an indication that things are going," Iuorio said.Williams also warned that the market's financing dynamics have changed considerably since the dot-com era. Retail investors now have a much greater influence on market activity, potentially extending speculative rallies even as more cautious institutional investors step aside.He described the financing arrangements surrounding AI infrastructure companies as increasingly circular, with companies and investors relying on one another to sustain the same investment narrative.Giustra identified corporate bonds as another important warning indicator, arguing that credit markets could signal financial stress before equities prices reflect the deterioration. He commented, "Watch the discounts on the corporate bonds because it will signal long before the share price will signal that something's wrong." He also highlighted highly leveraged hedge funds as a potential source of instability, warning that one failure could trigger a broader chain reaction.Williams, however, said private credit poses an even greater concern because of its limited transparency and the difficulty of assessing underlying risks. Gold, bailouts and the social cost of another crisis The panelists also considered how a market collapse could affect gold and the broader economy.Williams cautioned that gold will not necessarily provide immediate protection during a liquidity crisis. Investors facing pressure to raise cash often sell assets across the board, including precious metals.However, he expects gold to recover quickly as investors seek liquidity and policymakers respond to the crisis.Giustra pointed to the 2008 financial crisis as an example. Gold fell from approximately US$1,000 per ounce to US$750 before climbing to around US$1,900 over the following two years. He argued that investors must consider how governments and central banks will respond to a downturn, particularly through monetary expansion. That response could have significant consequences if another financial crisis requires substantial government intervention.Williams said the underlying problems facing the financial system are similar to those in 2008, but considerably larger. He expects policymakers to resort to money creation once again, although he believes the inflationary consequences could make the response less politically acceptable."The response will be the same, and it'll be much more dangerous," he said.Giustra also warned the audience that governments could find ways to use private wealth to support the financial system during a crisis. He recommended holding physical gold as a means of preserving wealth outside the financial system, emphasizing the importance of knowing where it is stored.The potential for another round of financial bailouts also raised questions about the social consequences of a market collapse. Lu noted that public frustration over the concentration of wealth is already on the rise. Another crisis followed by government support for financial institutions could deepen that resentment and contribute to social unrest.For the panelists, the central message was that investors should not assume the current market cycle will continue indefinitely. The AI revolution may ultimately deliver significant economic benefits, but that does not mean every company or investor participating in the boom will emerge successfully.As Giustra put it, "The louder they cheer, the more skeptical I get." Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

(RTTNews) - Fully wiping out the gains from last week, crude oil prices have gone into a tailspin on Monday after U.S. President Donald Trump downplayed the possibility for fresh strikes on Iran that diminished supply disruption concerns.

(RTTNews) - Gold prices have moved higher on Monday after U.S. President Donald Trump struck a reconciliatory tone on Iran, which led to a slump in crude oil prices and lowered inflation concerns.