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
Rebar suppliers to Russia's Central federal district, the major steel-consuming region in the country, have increased their offer prices on expectations of a seasonal rebound in secondary market demand in March.Fastmarkets' weekly price assessment for domestic 12mm A500C rebar in Russia, including 20% VAT, was 36,000-38,500 roubles ($543-581) per tonne cpt Moscow on Monday February 18, up from 33,...Read More
The price for steel rebar imported into the United Arab Emirates decreased this week in the latest deals, despite demand being stronger than in previous weeks, sources told Fastmarkets on Tuesday February 19.The reason for the fall in the rebar import price was that producers in Oman, currently the main exporter of rebar to the UAE, could not raise their prices for rebar as much as they had for bi...Read More
Hot metal remains the principal method of choice for Chinese steelmakers despite the recent surges in the price of iron ore, according to data from Fastmarkets research this week.The use of hot metal allows Chinese steelmakers to continue to enjoy cost savings in comparison with the use of ferrous scrap, even though production costs have increased following the rises in iron ore prices.The price r...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index continued its impressive New Year's ascent after finally breaking through an overhead wall of resistance at 1130. The Index closed the week at 1143.97 with a gain of 25.7 points or 2.3%. MACD fell to 0.28. RSI added nearly 10 points to 75.17. RSI has now occupied ele...Read More
The Turkish scrap import market continued to be quiet on Tuesday February 19 because of the slow rebar and billet sales in the country, sources told Fastmarkets.The mills in the country were still struggling to sell rebar and billet in both the domestic and export markets, so they were delaying their raw material purchases, Fastmarkets heard."Turkish producers were expecting to sell some rebar to...Read More
Iron ore prices in China were up by 7% in a monthly comparison in January on restocking ahead of the Lunar New Year and the Vale dam failure that boosted seaborne prices.Read More
Seaborne iron ore prices were mixed on Tuesday February 19, with the MB 65% Fe Iron Ore Index dipping slightly while the MB 62% Fe Iron Ore Index saw an uptick after a trade was heard done at a higher price.MB 62% Fe Iron Ore Index: $89.21 per tonne cfr Qingdao, up $0.89 per tonne. MB 62% Fe Pilbara Blend Fines Index: $88.61 per tonne cfr Qingdao, up $0.90 per tonne. MB 62% Fe Iron Ore Index-Low A...Read More
The price trend in the CIS export billet market reversed at the beginning of this week, going downward with buying activity in the major outlets turning sluggish, Fastmarkets heard on Tuesday February 19.This was partially due to the massive volumes of bookings done in recent weeks. Another reason, howover, was the weakening of the import scrap market in Turkey as well as lower billet prices in Ch...Read More
The price for steel rebar imported into the United Arab Emirates decreased this week in the latest deals, despite demand being stronger than in previous weeks, sources told Fastmarkets on Tuesday February 19.The reason for the fall in the rebar import price was that producers in Oman, currently the main exporter of rebar to the UAE, could not raise their prices for rebar as much as they had for bi...Read More
China's domestic rebar prices were mixed on Tuesday February 19 amid some fluctuation in the futures market, with those in the eastern region holding steady while prices in the north fell.Domestic Eastern China (Shanghai): 3,700-3,750 yuan ($547-554) per tonne, unchangedNorthern China (Beijing): 3,750-3,780 yuan per tonne, down 40-50 yuan per tonneTraders in eastern China kept prices unchanged to...Read More
COT SPECIAL PUBLICATION SCHEDULE Reminder -- Due to the U.S. Government Shutdown (February 1 Announcement) The last COT report was published on December 21, 2018. Reports going forward from that date will be published in chronological order beginning with the report previously scheduled for release on Friday, December 28, 2018 (based on data from Monday, December 24, 2018). The CFTC publ...Read More
StrengthsThe best performing metal this week was palladium, up 2.05 percent on a strong market outlook. Gold traders and analysts were split between bullish and bearish this week as gold struggles to get back up to highs seen in January, according to the weekly Bloomberg survey. However, the yellow metal remarkably gained this week even as both the U.S. dollar and equities rose on the news that...Read More
By: Stewart Thomson, Graceland Updates: 1. As US markets re-open after the holiday, the world's "queen of assets" continues her glorious ascent to higher prices. Please click here now. Double-click to enlarge this magnificent short term gold chart.2. The rise above $1332 ushers in my new short-term target: $1355!3. Please click here now. Gold is well on its way to be...Read More
By: Daniel R. Amerman, CFAThe Federal Reserve is currently communicating to the markets that it will likely pivot, and pause two strategies. The first pivot is to stop increasing interest rates. The second pivot is to stop unwinding the Fed balance sheet.While the interest rate pause is getting the most attention - the balance sheet pause could be the most important one for investors over the co...Read More
By: Captain Ewave GOLD: Short Term Update: Gold reached a low of 1305.30 this past week, but by the end of week we had moved higher to close in the 1324.80 area. We also had a key weekly reversal higher which is bullish and suggests higher prices are coming in the short term! We updated our count this week to a more bullish count that is suggesting that all of wave ?iii? of !iii! ended at...Read More
By: Jordan Roy-Byrne CMT, MFTARoughly one year ago and prior to that we observed that the gold stocks could be following the recovery template from what we deemed a "mega bear market."We define that as a bear market that is over two and a half years in time and over 80% in price. It cuts both ways.The gold stocks from 2011 to January 2016 had declined more than 80% and for more than four years....Read More
By: David HaggithBears, like myself, picked the meat off market bulls throughout 2018. We scoffed at the start of the year when bulls concocted a narrative that said bears would starve because 2018 was going to be the year of "global synchronize growth." We bears bawled that this was euphoric nonsense.Global economies fell off a cliff as soon as the bulls' narrative took hold, and all economies...Read More
So much for the wall of worry! Bulls have improbably shrugged off steep downturns in the housing and auto sectors, rising interest rates, a costly tariff war with China, the pernicious rise of socialism on Capitol Hill, the economic implosion of China and Germany, a strong dollar that has sapped the earning of U.S. multinationals; and, most recently, evidence that retail sales nosedived during t...Read More
China has been increasing gold reserves as a buffer to blackmail by USA and its allies on the global trade war front. Yesterday someone posted on Twitter that bank of England does not reveal the audit of gold reserves. There is no accountability of the Australian gold reserves held with the bank of England. My view is that Bank of England or the Federal Reserve will not give back the reserves...Read More
TOPICS IN THIS INTERVIEW:01:25 Have we reached the final phase of the economic cycle?08:05 Economically, China is the United States in the 1960s13:35 Hedging against currency devaluation before its too late18:05 Preserving wealth is critical for the youngest investors19:45 A growing acceptance of the Cannabis sector's recreational use cases24:35 Cryptocurrencies, crypto-commodities and Crypto-stoc...Read More