Steel maker Nucor Corp.’s (NYSE: NUE) stock has rallied some 51% from its March 3 low of $29.84 a share and has twice bumped against its recent high of $49.91 a share.
Risk Aversion comes back strong! Risk assets get sold… What games will be played with TIC’s? 40 years since Woodstock! And Now… Today’s Pfennig!
Many in the underground are talking about cobalt these days, as well as the more commonly known oil and gas.
Cobalt is one of the most important metals in next-generation manufacturing.
Demand is way down for iron ore and the negotiated price between China and its major suppliers is due for a big hit. Last year the price almost doubled. This year could see prices almost cut in half.
Gold bugs have suffered one of their worst years in history, says Keith Fitz-Gerald. But the US dollar looks increasingly fragile beyond this period of short-term panic buying. And that means the outlook for gold remains strong. Keith says every investor should ensure gold forms part of their investment strategy for 2009.
Almost everything we use in modern society contains large amounts of raw materials. And they can’t be mined fast enough to keep pace with demand, especially from emerging markets. Lundin Mining Corp. (NYSE:LMC) is a strong Canadian mining company, with no debt and world-class assets. And it is a steal at today’s beaten down prices.
Copper prices have fallen off a cliff since June, and not even China’s massive stimulus has bucked the trend. But Sara Nunnally says one Chilean mining firm is still planning a major expansion in production over the coming years. This could mean big profits for the company’s three major financial backers (AAUK, XTA, MITSY)… provided they survive the current commodity slump.
As the financial services giants get cut down to size, metals are now the biggest source of mergers and acquisitions on Wall Street, according to a report on Bloomberg.
The value of announced mining takeovers more than tripled to $199 billion in the first five months of 2008 from a year ago – the first time mining mergers have topped Bloomberg’s mergers and acquisitions table since it began 1998.
Meanwhile, gold prices are set to reach record levels, says Mike Caggeso in Money Morning.
Gold futures closed 2.9% down for the week, despite a rally on Friday, as the greenback rose against the euro and other major currencies.
“I see that Dennis Gartman is talking about gold again,” says Ed Steer in Casey Research.
Here are a few words from his early Thursday morning commentary….”If the governments of the world are now as concerned about inflation as we think they may be, and if they are even more concerned about the prospects for a generic, rising inflationary psychology amongst the public at large
Neither gold nor silver showed any signs of life until the Sydney market closed in their afternoon.