Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
China's domestic hot-rolled coil prices continued to rise on Friday December 14, capping a week of gains that appears to have led to a drop in trading activity in the export market. DomesticEastern China (Shanghai): 3,820-3,830 yuan ($555-557) per tonne, up 30-50 yuan per tonneNorthern China (Tianjin): 3,620-3,630 yuan per tonne, up 10-20 yuan per tonnePrices rose further due to buyers constantly...Read More
The Indian domestic steel billet price fell by 600 rupees ($8) per tonne in the week to Friday December 14, but demand remained weak despite major price cuts in long and semi-finished products.The price for Indian domestic billet stood at 31,000-31,200 rupees ($434-436) per tonne ex-mill on December 14, a drop of 600 rupees week on week from 31,600-31,800 rupees per tonne on December 7, accor...Read More
China's domestic rebar prices rose on Friday December 14 as trading activity picked up. Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($552-558) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,560-3,590 yuan per tonne, up 50 yuan per tonneBillet and futures moved steadily upward during today's trading session, leading to higher buying interest.Some end users raised procu...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebar Ukraine, export, rebar, offered at $460 per tonne fob Black Sea.Ukraine, export, rebar,...Read More
Global ferrous scrap prices fell by $5 per tonne or less during the week ending Friday December 14 following a period of quieter trading.The Turkish market witnessed another week with no new cargoes booked, leaving prices virtually unchanged, while US prices were flat, which was also due to a lack of fresh trades.India made no bookings but prices fell by $5, as did prices for Taiwan and Vietnam.Tu...Read More
Turkish steel producers have ended another week without making any deep-sea purchases because of the continued lack of demand for finished steel in the country's domestic and export markets, sources said on Friday December 14.Domestic mills have been holding back from scrap purchases for three weeks now, with only one cargo booked since November 23, which was a European cargo at an average price o...Read More
Seaborne iron ore prices surged above the $70 per tonne cfr mark on Friday December 14 amid bullish trading in both physical and futures markets.MB 62% Fe Iron Ore Index: $70.74 per tonne cfr Qingdao, up $3.09 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.54 per tonne cfr Qingdao, up $3.62 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $72.17 per tonne cfr Qingdao, up $1.29 per tonne.MB 58%...Read More
CloseGain/LossOn WeekGold $1238.30-$4.60-0.81%Silver$14.58-$0.19-0.34%XAU67.59-1.69%-0.52%HUI152.66-2.56%-0.83%GDM560.45-1.47%+0.07%JSE Gold1302.25+3.60+8.42%USD97.46+0.39+0.89%Euro113.05-0.59-0.92%Yen88.23+0.20-0.64%Oil$51.20-$1.38-2.68%10-Year2.893%-0.016+1.30%Bond143.4375+0.40625-0.33%Dow24100.51-2.02%-1.18%Nasdaq6910.66-2.26%-0.84%S&P2599.95-1.91%-1.26% The Metals: Go...Read More
Despite all the ominous press being devoted to the soon-to-be-inverted yield curve, it's not always clear why such a thing matters. In other words, how, exactly does a line on a graph slipping below zero translate into a recession and equities bear market, with all the turmoil that those things imply? The answer (which is both simple and really easy to illustrate with charts) is that banks - the...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort169,600109,10153,101134,285211,653356,986373,855Change from Prior Reporting Period -3,419-14,917772-78218,337-3,4294,192Traders16881704851247176 Small Speculators (C) GoldSeek.com LongShortOpen Interest 45,26428,395402,250 5,760-1,8612,331 non reportable positionsChange from...Read More
By David Brady, CFASHORT TERM: 0 - 30 DAYS We all know that positioning and sentiment are bullish for Gold and have been since May. Hence the need to focus on the technical picture. As I reported last week, Gold is in a Bear Flag following its drop from 1369 in April to 1167 in October. It touched channel resistance at 1257 on Monday, but the closing high was 1253, strong Fibonacci resistance. G...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome in Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente's perhaps the most well-known trends forecaster in the world and it's always a joy to speak with him. Mr. Celente, thanks for the time again today and welcome back.Gerald Celente: Always great being on with you, thank you.Mike Gleason:...Read More
The beleaguered gold stocks are recovering from their late-summer capitulation, enjoying a solid young upleg as investors gradually return. Their buying has pushed the leading gold-stock ETF near a major triple breakout technically. That event should really boost capital inflows into this sector, accelerating the rally. A major gold and gold-stock buying catalyst is likely imminent too, a...Read More
By Marin KatusaA surprise event with a major impact is known as a Black Swan.The theory was made famous by Nassim Taleb in his books Fooled by Randomness and later in The Black Swan. In his books, Nassim argues that many of the world's greatest feats are in fact black swan events.In the finance world, fortunes are made by those who anticipate Black Swans and lost by those who don't.A relatively...Read More
By Bill HolterPeople continually ask "when" will it happen? For the last 6 months we have responded "it is happening right before your very eyes"! In fact, as of this morning 52% of global markets are now down over 20% from their highs and qualifying as bear markets. Please understand the financial backdrop these weakening markets are falling into. Bluntly, the world is facing a giant margin ca...Read More
By David MorganThe national debt of the United States is about to hit another major milestone, getting ready to soar past $22 trillion for the first time ever.Clearly that is an enormous number... it's actually larger than the size of the entire US economy, which is pretty incredible.But what's always been the more important story about America's pile of debt is how rapidly it's growing.For exam...Read More
HighlightsFounder of the Trends Research Institute and Globalnomic(R) Trend Forecaster Gerald Celente returns with the economic forecast for the new year. $1,200 is the floor for gold - once the bulls push the price over $1,450 the sea change in sentiment could ignite an ascent to a new record over $2,000. Topping the list of catalysts that could move the PMs sector include a spike in oil price...Read More
By Alasdair MacleodThis article is an overview of the principal factors likely to drive the gold price in 2019. It looks at the global factors that have developed in 2018 for both gold and the dollar, how geopolitics are likely to evolve, the economic outlook and how it is worsened for the dollar by President Trump's tariff war against China, the availability and likely demand for bullion, and t...Read More
Declining supply, rising demand & positive cash flows By Adam TaggartSince gold topped out in 2011, the precious metals mining sector has been where investor capital goes to die.Mining stocks have performed miserably over the past seven years, missing out completely on the central bank-created liquidity-fest that has raised nearly every other equity sector to record highs.But the long winter o...Read More
I thought I'd seen all the "Peter Schiff Was Right" videos, but just stumbled onto this 2006 CNBC classic pitting Schiff against a new cast of (in retrospect) clueless antagonists, including a "chief economist" with some quaintly credulous ideas. This was the peak of the subprime mortgage mania, so the Bubblevision talking heads still considered the Fed to be "THE experts" on inflation and were...Read More