TGT shares are set to hit multi-month lowsThings have been pretty ugly for stocks in recent weeks, and today's shaping up no different. Futures on the major U.S. indexes are below fair value, and one of the biggest stories is a disappointing third-quarter earnings report from Target Corporation (NYSE:TGT). Profit and same-store sales for the period both came up short of expectations, despite a 49%...Read More
May's "soft Brexit" deal with the EU could lead to a hard landing for British stocksBy the end of last week, the state of Brexit negotiations was (not unfairly) summed up by one Vox article as "a true and complete omnishambles." While U.K. Prime Minister Theresa May successfully hammered out the terms of a "soft Brexit" with her European Union (EU) counterparts, it came at a great cost for May --...Read More
CloseGain/LossGold $1222.40-$0.80Silver$14.32-$0.10XAU65.17-0.81%HUI147.19-0.73%GDM538.38-0.32%JSE Gold1143.65+2.03USD96.81+0.60Euro113.68-0.82Yen88.76UNCHOil$53.43-$3.7710-Year3.056%+0.003T-Bond139.90625+0.125Dow24465.64-2.21%Nasdaq6908.82-1.70%S&P2641.89-1.82% The Metals: Gold chopped near unchanged in Asia before it climbed up to $1228.70 in London and then dropped to...Read More
Demand for Japanese steel fell 12.4% on the year to 5.1 million tonnes in September, mainly due to the smaller appetite of Japan's manufacturing sector, according to the latest statistics released this week.Manufacturing steel demand in the country fell 10.5% to 1.51 million tonnes during the month, the Japan Iron & Steel Federation (JISF) said.Demand from the Japanese automotive sector fell 13.2%...Read More
CloseGain/LossGold $1222.40-$0.80Silver$14.32-$0.10XAU65.17-0.81%HUI147.19-0.73%GDM538.38-0.32%JSE Gold1143.65+2.03USD96.81+0.60Euro113.68-0.82Yen88.76UNCHOil$53.43-$3.7710-Year3.056%+0.003T-Bond139.90625+0.125Dow24465.64-2.21%Nasdaq6908.82-1.70%S&P2641.89-1.82% The Metals: Gold chopped near unchanged in Asia before it climbed up to $1228.70 in London and then dropped to...Read More
By Craig HemkeOn Tuesday, significant gold news was made when the London Bullion Market Association finally began its long-awaited disclosure of gold market size and trading volume. If anything, all their first report revealed was the sheer magnitude of the scam and the fraud that persists in the current system. A summary of the report, along with a brief interview of LBMA CEO Ruth Crowell, can...Read More
By Ira EpsteinGold sells off as US Dollar soars. https://www.iraepstein.com/ Read More
Graceland Updates By Stewart Thomson 1. After breaking upside from a double bottom pattern, gold continues its solid price action. More good times lie directly ahead for precious metals investors, because Chinese New Year buy season begins very soon.2. Please click here now. Double-click to enlarge. Note the solid position of my key 14,7,7 Stochastics indicator on this daily g...Read More
Miles Franklin sponsored this article by Gary Christenson. The opinions are his.Sometimes we must consider the unthinkable.Official US national debt is $21.6 trillion. Unfunded liabilities are five to ten times higher. Global debt is about $250 trillion. US national debt has doubled every eight to nine years for decades.National debt in 2018 - $21.6 trillionNational debt in 2026? - $40+ trillion...Read More
Powell is apparently between a rock and a hard place. Inflation surged, while the global economy slowed down. What will he do? And how will gold react? Inflation Jumps in October The consumer price index climbed 0.3 percent last month, after rising 0.1 percent in September, according to the U.S. Bureau of Labor Statistics. It was the biggest rise since January, and it was mainly caused by an i...Read More
Asset management firm Fasanara Capital compared stock valuations to bitcoin in that "it is totally disconnected from fundamentals," its chief executive told CNBCImpending tipping point for markets is due to a synchronicity of enterprise overvaluation, high indebtedness, low cash balances and a drawback in public flowsStill, a major selloff hasn't arrived, and many market-watchers continue to...Read More
Gold and silver are steady. There is good demand for physical gold in China and ASEAN nations. Prices of gold and silver are low in Asia due to a stronger currency against the US dollar. People are taking advantage of stronger currency to buy gold. There will be sudden one way moves in bullion anytime till Friday. Asian markets and Asian traders do not sleep on US holidays. Silver demand is supe...Read More
Swiss multinational investment bank, UBS Group, has applied for Category II membership on the London Metal Exchange, according to a note released by the exchange on Thursday November 15. The LME currently has 32 Category II members and the Swiss bank's London subsidiary, UBS Ltd, is already a member. Last month, Chinese broker Nanhua Futures similarly took steps...Read More
Special steelmaker Voestalpine attributed an 11% fall in its earnings for the first half of 2018 to continuing global trade conflicts, it said late last week.The Austrian company reported a decline of 11.2% in earnings before interest, taxes, depreciation and amortization (Ebitda) over April-September 2018, the first half of its financial year, to ?,?860 million ($969 million). This compared with...Read More
European stainless steel market participants were losing confidence that the market will recover early in the New Year, they told Fastmarkets on Friday November 9, with transaction prices falling further this week.Transaction prices for grade-304 cold-rolled (CR) stainless sheets were assessed at ?,?2,150-2,200 ($2,454-2,511) per tonne delivered on Friday, down by ?,?30-60 per tonne from ?,?2,180-...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 20.Please click...Read More
Supply constraints continued to drive European ferro-vanadium and vanadium pentoxide prices to new heights, with both markets reaching record highs while the Chinese export market remained dormant. Chinese export prices remain flat absent export activityEU FeV prices set new record heightsEU V2O5 market edges upward to new record highUS FeV bolstered despite thin spot trading ChinaChina's ferro-va...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday November 20, with broad risk-off sentiment emerging across global commodity markets amid continued trade tensions and a fresh one-year low in oil futures.Both zinc and lead futures were the worst affected, falling by around 2% over the afternoon, to below their respective support levels at $2,600 p...Read More
The London Metal Exchange is planning to launch a lithium contract in the second quarter of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those...Read More
The latest news and price moves to start the Asian day on Wednesday November 21.Base metals prices on the London Metal Exchange were mostly lower at the close of...Read More