Turkish domestic scrap prices have softened over the past week with some mills reducing their buy prices because of high stock levels, sources said on Monday November 19.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,650-1,940 ($309-363) per tonne delivered on Monday, widening downward from last week's TRY1,800-1,940 per tonne.This change in the as...Read More
Civil rights groups will urge a U.S. judge on Monday to temporarily halt an order by President Donald Trump that bars asylum for migrants who illegally cross the border with Mexico.The groups argued in court papers that Trump’s Nov. 9 order violated administrative and immigration law.The hearing before U.S. District Judge Jon Tigar in San Francisco comes as thousands of Central Americans, in...Read More
BRUSSELS (Reuters) - European Union foreign ministers on Monday endorsed a French government decision to sanction Iranian nationals accused of a bomb plot in France, potentially allowing the measures to take effect across the bloc, three diplomats said.The ministers said technical work could now start on an EU-wide asset freeze on two Iranians and the Iranian intelligence service over a failed plo...Read More
COPENHAGEN (Reuters) - The whistleblower who revealed alleged money laundering involving Danske Bank (DANSKE.CO) said on Monday that a major European bank helped process up to $150 billion in suspicious payments and two U.S. lenders were also involved.Authorities in Denmark, Estonia, Britain and the United States are investigating payments totaling 200 billion euros ($228.5 billion) made through D...Read More
CloseGain/LossGold $1223.20+$1.30Silver$14.42+$0.01XAU65.70-0.57%HUI148.27-0.19%GDM539.96+0.11%JSE Gold1141.62+20.05USD96.21-0.23Euro114.50+0.33Yen88.76+0.11Oil$56.76+$0.3010-Year3.053%-0.018T-Bond139.8125+0.25Dow25017.44-1.56%Nasdaq7028.48-3.03%S&P2690.73-1.66% The Metals: Gold fell $3.80 to $1218.10 in Asia, but it then rallied back higher in London and New York and end...Read More
By Ira EpsteinGold is in a bullish configuration.https://www.iraepstein.com/ Read More
Source: Michael Ballanger for Streetwise Reports 11/17/2018 Precious metals expert Michael Ballanger discusses the recent rise in precious metals prices and what he sees ahead for the metals. -->As many of us have grown to appreciate over the years, forecasts tend to be nothing more than "educated guesses" and no matter what methods one uses, predicting directional and amplitudinal movement...Read More
By Clint SiegnerPresident Donald Trump isn't thrilled about Jerome Powell's stewardship of the dollar and interest rates. He would like the central bank's help in keeping the economic party going, but so far the Fed Chair just won't play ball. Now the Wall Street Journal has joined the President's call for some renewed stimulus.If officials at the Fed want to pause or even reverse course on rais...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12November 19, 2018"Buy the Dips" slang for purchasing stocks after a decline in prices Investopedia "Don't be afraid to buy the dip" Warren Buffett, The "Oracle of Omaha," American business magnate, investor, philanthropist "We simply attempt to...Read More
By Rory HallWe have stated time and again that gold is part of the monetary system it is just not on the front burner. If gold were not part of the monetary system national (central) banks would no longer hold it, nor would it be recorded on balance sheets as a Tier 1 asset - in essence, money, which it is. So, this notion that gold is not money, as Ben Bernanke stated in 2011, is a complete f...Read More
Featured GuestsBill Murphy & Rob KirbyShow HighlightsRob Kirby of Kirby Analytics sees extreme risks ahead for the financial markets via a shattered US accounting system.The missing $21 trillion dollars (size of US National Debt) in government funds, is possibly held by the exchange stabilization fund (PPT). One likely use for the missing funds could involve the purchase of new US Bond issuance'...Read More
LONDON (Reuters) - Sterling turned negative on Monday, with traders pointing to comments from Prime Minister Theresa May that an extension of the Brexit transition period was unlikely as the possible reason, as well as market talk of a large euro purchase.The pound fell as much as 0.3 percent to hit a day's low versus the dollar of $1.2796. The move came after May said she wanted any post-Brexit t...Read More
The Era Of Gains is over By Adam TaggartEver since the central banks became serial bubble blowers twenty years ago, household wealth has mostly been driven by asset price inflation:But this has been a quixotic pursuit. Created by pulling tomorrow's prosperity into today, these asset price bubbles are unsustainable, and invariably suffer violent corrections at their end.So far, the central banks...Read More
Strong words, aren't they? And yet, we are not afraid to put them right in the title. The number of factors (and their importance) that point to a nearby reversal and continuation of the major decline is too significant to believe in the bullish case, even though gold, silver, and mining stocks moved higher in the last few days. We emphasized it many times and we will continue to do so, as it's...Read More
By Keith WeinerA long time ago in a galaxy far, far away we wrote a series of articles arguing that bitcoin is not money and is not sound. Bitcoin was skyrocketing at the time, as we wrote most of them between July 30 and Oct 1 last year.Back in those halcyon days, volatility was deemed to be a feature. That is, volatility in the upward direction was loved by everyone who said that bitcoin is mo...Read More
Most warnings about large increases in government indebtedness revolve around future repayment obligations. For example, there is the concern that greatly increasing the government debt in the present will necessitate much higher taxes in the future. For another example, there is the concern that if the debt load is cumbersome at a time of very low interest rates, then as interest rates rise the...Read More
Dear Friend of GATA and Gold:With the latest version of his autobiography, published last month, "Keeping At It -- the Quest for Sound Money and Good Government" -- https://www.publicaffairsbooks.com/titles/paul-volcker/keeping-at-it/978...-- former U.S. Federal Reserve Chairman Paul A. Volcker reiterates that gold price suppression long has been a tool in the arsenal of central banks for surrep...Read More
By John MauldinKnow ThyselfLending Allows SpendingWealth GapA Beautiful DeleveragingIRA MagicThe Joys of Traveling, Puerto Rico and ClevelandScience tells us energy can neither be created nor destroyed within a closed system. Whatever amount is there will stay the same, though it might change form. If only the same were true for debt.Within the closed system called Earth, we are much better at c...Read More
By Avi GilburtIf you've been following my analysis of the S&P 500 through the years, you know that we have called the stock market rather well. In fact, we called for the rally to 2100 in 2015, and then expected a pullback from 2100 to the 1800 region as we came into 2016. However, unlike most others at the time, we expected that pullback would set us up for a 40%+ rally in the overall index bef...Read More
Gilts are on a tear as investors escape U.K. stocks and the pound. But a no-deal Brexit or a Corbyn government would soon change their status.By Mark Gilbert and Marcus Ashworth (via Bloomberg.com)British investors have been fleeing their domestic stock market in droves all year, and everyone and their dog lined up to sell sterling on Thursday as the tally of resignations from Theresa May's...Read More