CHEMNITZ, Germany (Reuters) - Chancellor Angela Merkel on Friday urged people to stand up against hatred and reject “lies” about a U.N. migration accord during her first visit to the city of Chemnitz since a spate of far-right violence that tarnished Germany’s image abroad.Germans were shocked by images of skinheads chasing migrants in the eastern city after the fatal stabbing of...Read More
China's hot-rolled coil prices were largely stable on Friday November 16, with buyers doing their usual rounds of restocking ahead of the weekend.DomesticEastern China (Shanghai): 3,800-3,830 yuan ($547-552) per tonne, widening upward by 20 yuan per tonneNorthern China (Tianjin): 3,830-3,850 yuan per tonne, widening downward by 10 yuan per tonnePrices in eastern China widened upward, with most tra...Read More
NEW YORK (Reuters) - The total debt shouldered by Americans has hit another record high, rising to $13.5 trillion in the last quarter, while an unusual jump in student-loan delinquencies could provide another signal that the U.S. economic expansion is growing old.Flows of student debt into serious delinquency - of 90 or more days - rose to 9.1 percent in the third quarter from 8.6 percent in the p...Read More
LONDON (Reuters) - European shares wobbled and closed just in the red after a choppy session on Friday as traders waited to see if Britain’s Prime Minister Theresa May would face a no-confidence vote over her draft European Union divorce deal.The pan-European stocks index started morning trading on a gentle rebound from losses on Thursday. But it gradually lost steam as speculation mounted a...Read More
Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday November 16.Raw MaterialsThe Singapore Exchange will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December.Asia ferrous scrap prices are still falling due to weak demand from steel mills and ample sup...Read More
BELFAST (Reuters) - At Sandy Row Band Supplies in the heart of Belfast’s pro-British unionist community, it is easy to understand the uncompromising resistance of Prime Minister Theresa May’s Northern Irish allies to her Brexit deal.Here locals who express loyalty to London by lining streets with Britain’s Union Jack flags and painting kerbstones red, white and blue can buy the f...Read More
The latest metal markets news and price moves to start the North American day on Friday November 16. Base metals on the London Metal Exchange had a mixed start during morning trading on Friday November 16, with investor sentiment improving amid easing US-China trade tensions and a slight downturn in the US dollar index.Both lead and nickel futures were the biggest climbers over the morning, apprec...Read More
CloseGain/LossOn WeekGold $1221.90+$8.60+0.99%Silver$14.41+$0.12+1.69%XAU66.08+1.67%+2.99%HUI148.56+1.47%+3.59%GDM539.56+1.49%+1.88%JSE Gold1121.57+12.92+2.14%USD96.44-0.61-0.47%Euro114.17+0.83+0.69%Yen88.65+0.41+0.70%Oil$56.46UNCH-6.20%10-Year3.071%-0.042-3.73%Bond139.59375+0.8125+1.25%Dow25413.22+0.49%-2.22%Nasdaq7247.87-0.15%-2.15%S&P2736.27+0.22%-1.61% The Metals: Gol...Read More
By Ira EpsteinGold is acting like it wants to move higher into year end.https://www.iraepstein.com/ Read More
By Gary TanashianLet's take an in-day snapshot of gold vs. several key competitors (for your investment dollars/euros/yen, etc.) and check the progress in turning the macro from risk 'on' to risk 'off', cyclical to counter-cyclical.Gold/Commodities motors along above the SMA 200. The move has been hysterical, and thus looks impulsive. That could mean something as we look back in hindsight one da...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort168,416177,663122,818201,354203,177492,588503,658Change from Prior Reporting Period -72527,54819,56027,457-8,85646,29238,252Traders16895886253273202 Small Speculators (C) GoldSeek.com LongShortOpen Interest 46,93235,862539,520 -1,6836,35744,609 non reportable positionsChange f...Read More
The sense that something isn't right out there just got a lot stronger. And the Fed, in response, is now tiptoeing back towards QE. Let's start with the sudden bad news:Chipmaker Nvidia plunges after missing on revenue and guidance(CNBC) - Nvidia stock fell as much as 19 percent Thursday after the company reported earnings for the third quarter of its 2019 fiscal year, which ended on Oct. 28.The...Read More
By Nathan McDonaldThe stock market has been rising, GDP has been rising, and the rate of unemployment has been steadily dropping since the Republicans took office, however, as good as news as this is, something sinister has been continuing to unfold behind the scenes. In all likelihood, you are intensely aware of what I am referring to, especially if you are the one who does, or participates in...Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their ab...Read More
Have you heard about the Everything Bubble? According to this view, virtually all financial assets are overvalued. So gold must be underpriced, right? We invite you to read our today's article which compares the yellow metal to other assets and find out how gold presents itself. Relatively. Have you heard about the Everything Bubble? Some analysts believe that after the dot-com bubble of the...Read More
Key Gold and Precious Metals News, Commentary and Charts This WeekGold and silver have eked out slight gains this week as stock markets came under pressure due to concerns about tech and oil sector valuations, Italian banks and political and financial turmoil due to Brexit.Gold is 0.65% higher for the week in dollars and has seen greater gains in euro (+0.8%) and the pound (+2.17%). The latter h...Read More
PARIS/CHICAGO (Reuters) - U.S. carrier Delta Air Lines (DAL.N) said on Friday it deferred delivery of 10 Airbus (AIR.PA) A350 jets and ordered 10 of the cheaper A330neo long-haul models to become the first U.S. airline to operate the next-generation of Airbus aircraft.The A330neo purchase, first reported by Reuters, is a further endorsement for the slow-selling model worth $3 billion at list price...Read More
The import price for steel billet in Southeast Asia fell on Friday November 16 after suppliers offered cheaper cargoes, while negative sentiment intensified on China's possible return to the export market.Fastmarkets' daily price assessment for billet imported into Southeast Asia was $495-502 per tonne cfr Manila on Friday, widening downward by $5 per tonne from $500-502 per tonne cfr the previous...Read More