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
American insider sentiment is climbing which suggests the trend is for stocks to become cheaper. That is good news for investors with patient cash and looking for bargains, but bad news for long bulls who hunger for a quick turnaround in stocks.Click for largerThe near-term path for stocks may well depend on what the Federal Reserve does with interest rates Wednesday and the approach it sets for...Read More
Domestic prices for hot-rolled coil (HRC) in the European Union are expected to continue their gradual decline after the market recovers from the Christmas holiday period lull, sources told Fastmarkets on Wednesday December 19. The prices are expected to stabilize for a couple of weeks due to the lack of market activity over the Christmas holiday period in Europe, according to market par...Read More
The knock-on effect of Section 232 tariffs imposed by the United States in March this year on imports of steel and aluminium has been swift and dramatic.In retaliation, the European Union, Canada and Turkey swiftly imposed their own safeguard measures; the Eurasian economic zone is set to do so soon.But this trade war poses in particular a threat to the Middle East-North Africa region, which is cu...Read More
Domestic prices for heavy steel plate in Europe have been largely stable due to the seasonal market slowdown ahead of Christmas, sources told Fastmarkets on Wednesday December 19.Yet, prices are expected to move down in January after market participants return to the market after holidays. "Demand was not good in December and it is unlikely to significantly recover in January, apart from some seas...Read More
The knock-on effect of Section 232 tariffs imposed by the United States in March this year on imports of steel and aluminium has been swift and dramatic.In retaliation, the European Union, Canada and Turkey swiftly imposed their own safeguard measures; the Eurasian economic zone is set to do so soon.But this trade war poses in particular a threat to the Middle East-North Africa region, which is cu...Read More
European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday December 19, with questions over the future of the region's import quotas continuing.Fastmarkets MB's weekly domestic price assessment for mesh-quality wire rod in both Southern and Northern Europe was at ?,?540-560 ($614-636) per tonne delivered on Wednesday, unchanged from l...Read More
The price for rebar produced and delivered in Southern Europe fell slightly on the low end on Wednesday December 19, with some low offers from Spain carrying into the year-end period.Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe slipped to ?,?520-540 ($591-614) per tonne delivered on Wednesday, but there is very little activity predicted ahead of the New Year and t...Read More
Ferrous scrap export prices continued to lose ground despite the lack of bulk trades from the United States, with East Coast exporters located South of New England again reducing prices at the port while price expectations for the next bulk sale to Turkey soured further. No cargoes were sold off either US coast in the past seven days. Still, the increasingly gloomy global scrap market outlook caus...Read More
CloseGain/LossGold $1242.00-$7.30Silver$14.58-$0.06XAU66.61-5.67%HUI150.99-5.83%GDM558.39-4.33%JSE Gold1355.53+27.10USD97.06UNCHEuro113.72+0.08Yen89.30+0.12Oil$47.20+$0.9610-Year2.780%-0.043T-Bond144.84375+0.375Dow23323.66-1.49%Nasdaq6636.83-2.17%S&P2506.96-1.54% The Metals: Gold edged up to $1251.40 in Asia before it dropped back to $1246.80 in London and then jumped up...Read More
By David SmithOver a year ago in this space, you may have read my rationale for not closing out core metals and mining stock positions after the May 2011 intermediate top (which turned out to be a longer term!) in the resource sector. (By the way, David Morgan called that top to his subscribers -- to the day.)I held those positions in spite of having written down on paper a decade earlier my int...Read More
By Ira Epstein https://www.iraepstein.com/ Read More
By Frank HolmesCommodity traders appear excited about gold again as stocks are on pace for their worst year since 2008, and their worst December since 1931. Bullish bets on the yellow metal outnumbered bearish ones for the week ended December 11, resulting in the first instance of net positive contracts since July, according to Commodity Futures Trading Commission (CFTC) data.click to enlargeAs...Read More
As part of Merk's in-house research we regularly evaluate a consistent set of charts covering the economy, equities, fixed income, commodities and currencies. The aim is to keep our eyes open and to look through the noise of the headlines, avoiding the distractions of sensationalized click-bait. In sharing this content, we offer a cross-check to your own thinking and aim to add value to your own...Read More
I'm prone to remind readers from time to time that I don't have a crystal ball. Although I hit forecasting bullseyes often enough, this feat is just a cheap parlor trick for anyone even a little bit familiar with the Hidden Pivot Method. Under the circumstances, I probably shouldn't be too disappointed when the crystal ball I insist that I don't have fails me.Or has it? Yesterday I wrote that...Read More
German steelmakers have settled their monthly scrap contracts for December with a decline for E3 and E40 grades, reflecting the decline in the international market, sources told Fastmarkets.Fastmarkets' monthly price assessment for domestic grade-E3 scrap in Germany was at ?,?270-280 ($307-318) per tonne delivered in December, compared with ?,?275-290 per tonne delivered in November.Deals that had...Read More
By George SmithThe Christmas Truce of 1914 is remembered today as something of a miracle, and based on letters the soldiers had written home it struck them much the same way.How could it be that men can stop killing each other for a day after five months of mutual slaughter on the battlefield? Nor did they merely take a time out, but fraternized, much to the displeasure of their high command....Read More
- Review of 2018: 'Everything bubble' started bursting- International stock market indices and many property markets have fallen sharply- S&P 500 -4.5%, Nikkei -8%, EuroStoxx 50 -12.5%, FTSE -13%, DAX -16.5%- Of 54 major international stock market indices, only 6 are higher (see table below)- Global property bubble bursting - London, Sydney and Vancouver fall nearly 10%- Crypto bubble burst a...Read More
Turkish scrap import prices fell again Wednesday December 19, following news of a fresh deep-sea cargo booking, sources told Fastmarkets MB.Details of a steel producer in the Iskenderun region booking a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25), 7,000 tonnes of a mixture of bonus and shredded and 3,000 tonnes of busheling, at an average price of $285 per tonne cfr, came to light...Read More
David Morgan is a world-renown precious metals aficionado. He is the creator of the Silver-Investor.com website and The Morgan Report, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the key reasons for investing in precious metals. A dynamic, much-in-demand speaker all over the globe, David's educational mission also makes him a pr...Read More