The London Metal Exchange has decided on a dispute over when the load-in, load-out (LILO) rule should have been activated, ruling in favor of warehouse company Istim. People familiar with the situation said that the warehousing firm had been found to have acted vigorously and without delay in its dealings with Glencore at its warehouses in Port Klang, Malaysia, following large cancellations of alu...Read More
Silver ended the week closing at its lows, now down to $14.40/oz.The trend is also down for silver stocks since peaking in Q1.Caution is warranted at this time since risks are heightened for individual company failure (particularly producers) in a low price environment where profit margins have been greatly eroded.Hecla Mining and Coeur Mining are just two examples of companies currently going thr...Read More
The three-month nickel price on the London Metal Exchange fell by 0.7% below its traditional support level of $12,000 per tonne during morning trading on Monday May 20, although thin trading volumes have capped further downside movement. The metal's futures price was recently traded at $11,910 per tonne. Despite total LME stocks remaining at a seven-year low at just 164,100 tonnes, commodity trade...Read More
U.S.Representative Alex Mooney (R-WV) introduced legislation this week to providefor the first audit of United States gold reserves since the EisenhowerAdministration.The Gold Reserve Transparency Act (H.R. 2559) – backed bythe Sound Money Defense League and government accountability advocates –directs the Comptroller of the United States to conduct a “full assay,inventory, and a...Read More
The roller coaster presidency of Donald Trump is currently riding high as thestock market races back up to new highs, economic data come in better thanexpected, and Congressional Democrats’ endless investigations come up emptyhanded.Trump’s approval rating recently hit 50% at the same time asCNN’s ratings are tanking.Over the weekend, President Trump sent CNNand the rest of the &...Read More
Crude oil has had an eventful session yesterday. It has closed the opening gap and the bulls have been building upon their gains till the session’s close. Earlier today however, the price appears to be rolling over and heading south. Is all hope for higher oil lost? The bulls have shown to be quite tireless. Can they pull a rabbit out of their hats shortly?Let’s take a closer look at t...Read More
Several weeks ago we wrote about the downside risk in the gold stocks. After the various gold stock indices formed distribution-type tops, the subsequent selling has been swift. Miners have plunged through moving averages and short-term breadth indicators quickly reached oversold extremes. While the gold stocks are oversold, it could be a little while before we can expect a sustained rebound. We p...Read More
Precious Metals traders have been hanging on every turn in the markets over the past 2+ years. The upside price move in early 2016 setup a very strong expectation that further upside price moves were about to result in an upside price explosion in metals. Remember, 2016 was a very big US Presidential election year. 2020, being the next big US Presidential election year, is only a...Read More
I was going through some old long term charts I haven’t posted in many years to see if there was anything of interest to post tonight. With long term charts things don’t change very fast and the big picture can stay viable for years. I have literally hundreds of charts for the different PM stock indexes that I’ve built through the years that are tucked away in different chart lis...Read More
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.Coming up we have an eye-opening interview with Bill Holter of JS Mineset. Bill weighs in host of topics including our incredibly broken and phony markets, the truth behind why governments hate gold so much, and the real reasons why China and Russia are eagerly amassing huge gold positions.Bill also highlights some tell-tale...Read More
It lookslike crude oil is set for a sizable weekly decline. After yesterday’s plunge,the market looks to have stabilized today. But is it really so? In today’sanalysis, we’re bringing you the details. We objectively reveal what to expectnext. Either the bulls or the bears won’t like it. Who do you think it’ll be?Let’s takea closer look at the chart below (charts...Read More
TheWhite House and Congress finally agreed to put their significant differencesaside and work together on something constructive, no pun intended. OnWednesday it was announced that President Trump and Democratic congressionalleaders plan to spend $2 trillion on US roads, bridges, powergrids, water and broadband infrastructure -bricks and mortar priorities that are sorely underfunded in both the Un...Read More
“The US dollar will collapse or it will be replaced by another currency” – we hear such statements all the time. Are they true? We decided to check these claims – so we invite you to read our today’s article about the US dollar’s international supremacy and find out whether the greenback’s demise is likely in the foreseeable future. Let’s also draw i...Read More
Sector expert Michael Ballanger reviews recent movements in precious metals and discusses how he is playing the market. Last week I sent out my uber-bullish call on the metals and miners at the conclusion of a period fraught with doom and despair for all things gold and silver. The criminality of the interventionists was in full bloom as they bombed gold down through that critical "Line in the San...Read More
Platinum, after making what appears to be a wash-out low in August 2018, now looks poised to be a precious metal leader, writes fund manager John Newell at Fieldhouse Capital Management. What is Platinum: Platinum is a precious transition metal that has the chemical symbol Pt and an atomic number of 78 on the periodic table. Platinum is grayish white in color and is often mistaken for silver. Plat...Read More
As we know, Gold and the US Dollar have an inverse relationship. Gold is priced in US Dollars and the drivers of each are similar (from an inverse point of view). Over long-term periods both trend in the same direction but the magnitude of the moves can vary and be quite different. The standard inverse relationship has not been a perfect one in recent months or years. In the chart below we plot Go...Read More
The silver market appears to be setting up for a big move. After spending this spring stair-stepping lower in a narrowingrange, silver prices have formed a falling wedge pattern. That pattern usuallyresolves in a powerful directional breakout. The good news for bulls is thatfalling wedges usually break out to the upside. Commercial hedgers and bullion banks (i.e., “smart money&rdqu...Read More
Our proprietary price cycle tool is showing us that the Daily Gold cycles may dive a bit lower, possibly into the $1250 to $1265 level, over the next 3~7+ days before reaching an ultimate low. We’ve been covering the precious metals markets like hawks because of our proprietary price modeling tools that suggested the April 21~24 dates as an ultimate low/momentum base pattern. Thi...Read More
After an interesting week and to allow more focus on charting the miners this weekend, we again offload much of the NFTRH Precious Metals segment’s content to the public site. The following is (hopefully) going to be long on charts and relatively short on words (sighs of relief palpable…).HUI/Gold Ratio is intact to its higher lows from September. This was a logical bounce point for g...Read More
Gold has failed to gaintraction over the past couple months, normally a seasonally-strong time. That has really weighed on sentiment, leavingtraders increasingly bearish. Goldinvestment demand has flagged dramatically with lofty stock markets spewinggreat euphoria. That’s given gold-futuresspeculators the run of the market, where they have sold aggressively includingextreme...Read More