April 26th, 2019(S14-E693)Featured GuestsJohn Williams& Dr. Douglas Vogt.Please Listen HereLIMITED OFFER - FREE $5 IN ONEGOLD DIGITALBLOCKCHAIN EXCLUSIVELY TO GOLDSEEK.COM PATRONS! (Remember to say Goldseek Radio sent you!).John Williams of Shadowstats.com returns to the show with provisos on the domestic economy. Investors are advised to prepare for a recession as soon as the second quar...Read More
By: David Chapman The market keeps chugging higher. Well, maybe chugging is not quite the right word as this past week's markets were decidedly mixed. Decent earnings and a Q1 advance GDP growth of 3.2% year over year, coupled with low inflation, did the trick. The S&P 500 gained 1.2% on the week and closed at a record high although the index did not actually make a new all-time high, falling...Read More
Apologies. As the bull market has ground on endlessly, I might have provided you with a precise target for the elusive Mother of All Tops. Instead, what I've done in recent months is pussyfoot with relatively minor rally targets of limited value. Can you blame me for hoping that one of these little pishers would eventually nail the summit of a runaway bull badly in need of a rebuke? So far, as y...Read More
By: IRA EPSTEINGold technical update: Read More
ASIAN METALS MARKET UPDATEGold needs to break and trade over $1290-$1292 zone to attract short covering. Spot silver needs to trade over $15.10 to attract short covering. Crude oil needs to trade over $60.00-$60.60 this week to be in bullish zone. Copper is in neutral zone. Japanese markets are closed this week till 5th May. So the sea calm is there in bullion and currencies. US dollar will ga...Read More
Fastmarkets summarizes five key points we learned at Antaike's 2019 China Industry Silicon Conference in Guizhou, China, over April 24-26. Domestic silicon consumption in China likely to fall; concern growing over export prices Demand in China's silicon market is likely fall in the near term while the secondary aluminium market struggles with restrictions on imports of non-ferrous scrap metal, mar...Read More
Eramet increased its manganese output by 14% year on year in the first quarter of 2019, while also increasing sales volumes by 7% despite lower prices, the French mining and metallurgical group said on Thursday April 25.The company produced a record quarterly volume of 1 million tonnes of manganese ore and made ?,?434 million ($483.63 million) in product sales.The performance shows a healthy manga...Read More
* Market looking for clues to China demand * Premium for zinc cash over three-month highest since Dec. (Adds comment, updates with official prices)By Pratima DesaiLONDON, April 29 (Reuters) - Copper prices slipped on Mondayas stocks in London Metal Exchange-approved warehouses jumped,suggesting lacklustre demand, and volumes fell ahead of holidaysin top consumer China.Benchmark copper on the Londo...Read More
Diamond drill core from the Sunday Lake platinum-palladium project in northern Ontario. Source: Transition Metals Corp.Transition Metals Corp. [XTM-TSXV; TNTMF-OTC] shares rallied sharply Monday April 29 after the company said it has received assay results from a previously disclosed drill program conducted by North American Palladium Ltd. [PDL-TSX; PALDF-OTC] on the Sunday Lake platinum-palladium...Read More
The Aurora Gold Mine in northwest Guyana. Source: Guyana Goldfields Inc.Guyana Goldfields Inc. [GUY-TSX; GUYFF-OTC] said Monday April 29 that it has reached a settlement with a group requisitioning shareholders that includes the company's former CEO Patrick Sheridan.The company also said it will implement a succession plan for the CEO position within the next six months. Meanwhile, Scott Caldwell...Read More
Turkish domestic ship scrap prices have fallen slightly over the past week, while a number of steel mills raised their buy prices for auto bundle scrap due to the continual weakening of the lira against the US dollar, sources said on Monday April 29.Three steel mills continued to buy ship scrap at $315-320 per tonne delivered, but a fourth mill reduced its buy price to $310 per tonne delivered.So...Read More
The Turkish steel producers have continued their deep-sea scrap bookings after achieving lower prices, sources told Fastmarkets on Monday April 29.Three deep-sea cargoes were heard traded late on April 27 and on April 28.A steel mill in the Izmir region booked a US cargo, comprising HMS 1&2 (80:20) at $307 per tonne, shredded at $312 per tonne and bonus at $317 per tonne...Read More
Copper scrap sold into China in April was at the widest discount level in the past three years on a massive backlog of non-ferrous scrap due to the upcoming halt in July scrap imports after policy changes.Fastmarkets assessment for the discount for No2 copper scrap, birch/cliff, imported in China is at 37-42 cents per lb on April 29, a significant stretch compared with 32-38 cents per lb a month b...Read More
The Monday Market Minute Global stocks trade higher as investors continue to bet on a Goldilocks scenario for the U.S. economy and further record gains for Wall Street.The Fed's preferred inflation gauge will be published at 8:30 am eastern today, with any slowing in core prices likely to boost market bulls following Fridays' stronger-than-expected first quarter GDP reading of 3.2%US earni...Read More
Treatment charges (TCs) paid for zinc concentrates on the spot market declined in April, with Chinese smelters and traders actively acquiring tonnages at lower levels than before.Fastmarkets monthly assessment for zinc concentrate spot TCs, cif Asia Pacific, was at $260-290 per tonne on April 26, down from $270-305 per tonne on March 29.The drop marks a break in the uptrend for sharply rising zinc...Read More
London Metal Exchange base metals prices have generally been weak in recent days but some dip-buying seems to be emerging, which for now is providing support. But, with much of Asia in, or heading for, Golden Week and Labor Day holidays, liquidity is likely to shrink either leading to more volatility, or quiet trading in the days ahead.Asian equities firmer this morning helped by strong US gross d...Read More
Chinese imports of cobalt intermediates rose quickly in March after the price, as well as that of the international cobalt benchmark price, accelerated downward in January, which stimulated buying of the raw material. China imported 21,210 tonnes of cobalt intermediates in March, up by almost 83% from 11,596 tonnes in February, according to official but unconfirmed data. Prior to March, Chinese im...Read More
President Trump loves coal.Or at least that's what he wants you to believe.The President's support of coal has been unwavering. From the campaign trail to present day, Trump has been an extremely vocal supporter of coal."I am thinking about the miners all over this country. We're going to put the miners back to work. We are going to get those mines open. Oh, coal country. What they have done."- Do...Read More
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) is the world's leading gold company and a producer of copper, silver, zinc and lead. The Company's unmatched portfolio of world-class assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont Goldcorp is the only gold producer listed in the S&P 500 Index and is widely...Read More
Vietnamese buyers are bidding lower for hot-rolled coil amid ample supply of both domestic materials and imports in the Southeast Asian country.The Fastmarkets MB weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $535-545 per tonne cfr for the week ending Monday April 29, widen...Read More