Market sources surveyed by Fastmarkets last week broadly agreed that the prospects for steel exports out of Turkey remained poor at the end of April, with no recovery likely soon because of trade barriers erected by authorities in the country's principal outlet markets.This will affect steel output in Turkey, with local demand also limited by the country's economic uncertainty and the decline in t...Read More
By: Keith Weiner, Monetary MetalsWe have a postscript to our ongoing discussion of inflation. A reader pointed out that Levis 501 jeans are $39.19 on Amazon (in Keith's size Amazon advertises prices as low as $16.31, which we assume is for either a very small size that uses less fabric, or an odd size that isn't selling). Think of the enormity of this. The jeans were $50 in 1983. After 36 years...Read More
Strengths? The best performing precious metal for the week was palladium, up 2.79 percent as hedge funds boosted their net bullish positions. Despite U.S. dollar strength, gold traders and analysts returned to their majority bullish position on the yellow metal this week, acco...Read More
By: Clint SiegnerCentral bankers and politicians love inflation, but they need "bag holders" to have faith in the value of the fiat currency IOUs they hold. The trick is to avoid suddenly destroying the ephemeral confidence in currencies by printing too much too fast.Central bankers may also need to limit the options inflation wary citizens have for escaping.They are both shifty and innovative w...Read More
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
COLORADO SPRINGS, CO, April 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") reports first gold production from Isabella Pearl in its Nevada Mining Unit ahead of schedule. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned...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
By: David HaggithYou may be worried my prediction that a recession will start sometime this summer is not looking too good. So was I after first-quarter corporate earnings started coming in better than what economists expected. Except that barely "beating expectations" is kind of pathetic when expectations are dumbed down as far as they were.(Note that I have also stated each time I repeat thi...Read More
Dear Friend of GATA and Gold:While the former member of the U.S. Commodity Futures Trading Commission, Bart Chilton, disappointed some monetary metals investors, he was a hero to GATA for several reasons.First, he forced the commission to take public testimony from GATA Chairman Bill Murphy and GATA Director Adrian Douglas at the commission's much-publicized hearing on the monetary metals market...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
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
- Monetary Hockey Stick - Killer Debt - Dominoes Dropping - Washington DC, Dallas, and Puerto RicoThe US, Europe, and most of the developed world on are the road to Japanification. Like I wrote last week, we will see financial repression, ever increasing deficits, slower growth, etc. Essentially, the rest of us will begin to look like Japan with its astronomical deficits and ultra-dovish...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
Physical iron ore prices advanced on Monday April 29 amid gains in China's futures market.MB 62% Fe Iron Ore Index: $94.05 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.83 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $97.10 per tonne cfr Qingdao, up $1.07 per tonne. MB 58% Fe Premium Index: $84.64 per tonne cfr Qingdao, up $...Read More
Jason talks about how hedge funds are now record short the Cboe Volatility Index or (VIX) betting on Fed rate cuts, QE4 and the Powell put.After rising for many months, the VIX got to 36.07 on December 24, 2018 (Christmas Eve) before crashing since then to as low as 12.73 on the day of today's show. Hedge Funds Are Shorting the VIX at a Rate Never Seen Before https://www.bloomberg.com/news/articl....Read More
Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Luf...Read More
After trip to Russia to meet Putin, Kim Jong-Un returned home by private train early on Saturday, according to the KCNA news agency. The footage aired by state TV showed crowds and officials lining the platform, waiting for their leader's arrival.Read More
China's domestic rebar prices held steady on Monday April 29 despite a strengthening of the billet and futures markets ahead of the Labor Day holiday from Wednesday until the end of the week.Domestic Eastern China (Shanghai): 4,050-4,100 yuan ($602-609) per tonne, unchangedNorthern China (Beijing): 3,950-4,000 yuan per tonne, unchangedRebar futures strengthened during the day after the price of bi...Read More