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
Both chip stocks are gapping lower on weak current-quarter guidanceThe shares of Nvidia Corporation (NASDAQ:NVDA) have plunged 18.2% to trade at $166.30 -- fresh off a new annual low of $164.85, and headed for their worst day since July 3, 2008. This is a stinging reaction to the chipmaker's third-quarter earnings report, which beat on the bottom line, but revenue of $3.18 billion fell short of ex...Read More
Nvidia reported lower-than-expected revenue and guidanceDespite snapping its losing streak yesterday, futures on the Dow Jones Industrial Average (DJI) are set to stumble into the weekend, down more than 150 points. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are lower as well, with the latter under particular pressure from the sinking semiconductor sector, after chipmaker Nvidia (NVD...Read More
SCVL stock has a history of huge earnings winsFootwear retailer Shoe Carnival, Inc. (NASDAQ:SCVL) is set to gain 12% at the open following the company's third-quarter earnings results. Earnings and revenue both topped expectations for the period, while same-store sales increased by 4.5%. Wedbush and Susquehanna were impressed, enough to raise their respective price targets to $47 from $42. To be s...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
This free e-book offers options basics for any trader.It's essential for every trader to occasionally take a step back, and consider their long-term trading goals.Some traders aretrying to fund a child's college education, augment their own retirement, or leave the daily 9-to-5 grind once and for all, while others are seeking a way to smooth out crazy market volatility and whipsaw swings in their...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
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
Full Article: Not the end of the worldBy: Jeff ThomasPeriodically, I'll encounter someone who has read one of my essays and has decided not to pursue them further, stating, "You're one of those 'End of the world' guys. I can't be bothered reading the writings of someone who thinks we're all doomed. I have a more positive outlook than that."In actual fact, I agree entirely with his latter two comm...Read More
Pig iron exporters in the south of Brazil have sold out of material for shipment this year and have increased their offer prices for material for January deliveries."Sales last week have taken up material availability from suppliers in the south. That is why they have tried to increase their offers," one trader told Fastmarkets.Last week, several deals were done at $346-348 per tonne fob. This wee...Read More
Buyers avoided making new deals in the United States pig iron market during the week ended Friday November 16 because they had restocked earlier in the month, Fastmarkets was told.Fastmarkets' price assessment for US imports of pig iron remained unchanged at $370-385 per tonne cfr on November 16.Numerous deals for pig iron for December deliveries to the US were done with the Commonwealth of Indepe...Read More
• A fresh wave of global risk-aversion trade benefits traditional safe-haven assets. • Fresh USD selling pressure provided an additional boost and remains supportive. • Technical buying above $1217 hurdle further accelerates the positive momentum. Gold finally broke out of its European session consolidation phase and surged to f...Read More