By Daniel R. Amerman, CFAThe Organization For Economic Cooperation and Development (OECD) is urging the nations of the world to be prepared for and have a coordinated plan to simultaneously engage in major "fiscal stimulus" in the event of a downturn in the global economy."Fiscal stimulus" is how economists refer to a government substantially increasing spending, while holding taxes constant or...Read More
By Gary TanashianAll through the bear market hopeful rationalizations were served up for a bullish case on the gold miners. All through the bear market we warned people not to eat that rotten turkey!China demand, the China and India "love trade", cyclical inflation driving up the prices of commodities and resources and the classic... economic growth in the US will create cost-push inflation thro...Read More
By Steve St. AngeloGlobal debt increased at the fastest rate at the beginning of 2018. In just one quarter, total global debt jumped by more than $8 trillion. That is quite surprising as total world debt rose by $22 trillion for the full year in 2017. Thus, the increase in global debt last year averaged $5.5 trillion each quarter.However, global debt according to the Institute of Internati...Read More
This reform will make US financial system more vulnerable, just adding fuel to the fire of easy money. This is what some people worry about. Are they right? We invite you to read our today's article about the rollback of Dodd-Frank Act and its potential implications for the price of gold. In May, President Trump signed the rewrite of the 2010 Dodd-Frank law passed earlier by Congress with rare...Read More
Key Gold and Precious Metals News, Commentary and Charts This WeekGold and silver traded sideways this week as we saw stock markets take some heat and undo most of the recent recovery from the October sell off. Oil has sold off and is now at levels that we haven't seen since 2017.Credit: Weekly relative performance (Finviz.com)While the US markets are quiet due to Thanksgiving all eyes are focus...Read More
China's rebar prices declined significantly in both the domestic and export markets on Friday November 23 amid plunging futures.Domestic Eastern China (Shanghai): 3,920-3,950 yuan ($565-570) per tonne, down 70 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, down 40-50 yuan per tonneThe sharp drop in the paper market during the day intensified the bearish sentiment in the spot m...Read More
Global ferrous scrap prices continued to move downward in the week ending Friday November 23, with persistently weak finished steel sales and fears about renewed Chinese exports.Cargoes booked in Turkey were at lower prices due to fears of increased volumes of rebar being exported from China. The market in India was dragged down by the negative sentiment in Turkey, with prices falling by $8 per to...Read More
David Stockman appears on ("Varney & Co.," Fox Business Network, November 23, 2018)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and...Read More
Click Here to Listen to the Interview As tensions between the US and China ratchet up, what next for the global economy as the world's biggest debtor nation takes on the world's largest creditor nation for primacy in the hearts and minds of Asia-Pacific nations. With its huge war chest of cash, China is forcing America to cough up more credit to maintain its military supremacy in the...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
Alasdair Macleod is head of research for GoldMoney. He also runs FinanceAndEconomics.org, a website dedicated to sound money and demystifying finance and economics. He has a background as a stockbroker, banker and economist. Read More
There is uncertainty in the United States pig iron market because the markets for scrap and hot-rolled coil (HRC), the key indicators, are moving in opposite directions, Fastmarkets was told on Friday November 23.Fastmarkets' price assessment for US imports of pig iron was $378-385 per tonne cfr on Friday, narrowing upward from $370-385 per tonne last week.One deal for high-phosphorous pig iron fo...Read More
Despite the forecasts 20 years ago that snow would be a thing of the past, the last three winters have been getting progressively colder and nastier. Back in 1975Continue...Read More
Barrick Gold's incoming chief executive said he wants to pull together Tanzania's mining industry to tackle a "desperate" tax dispute that has snared several companies, including the firm's Acacia Mining unit.In an increasingly acrimonious conflict that has lasted almost two years, the government has torn up mining contracts, hiked taxes and royalties, and banned raw minerals exports. Randgold fou...Read More
BTU Metals (TSXV: BTU) has expanded its Dixie Halo gold project in Red Lake, Ontario, by acquiring Burgudy Exploration and its 41.6 sq. km of prospective land in the area. Dixie Halo surrounds Great Bear Resource's (TSXV: GBR; US-OTC: GTBDF) Dixie gold project and raises BTU's total Red Lake land position to 129 sq. km.BTU will acquire Burgundy for 3.6 million sharesThe company will call its new c...Read More
Aecon Group Inc. (TSX: ARE) announced today the closing of the definitive asset purchase agreement to sell substantially all of the assets related to Aecon's contract mining business to North American Construction Group Inc. ("NACG") (TSX: NOA/NYSE: NOA) for C$199.1 million in cash, subject to customary closing adjustments.The closing is effective November 23, 2018.Read More
Camino Minerals (TSXV: COR) announced this week that it is in the process of completing an extensive surface exploration program on the 20,000-hectare Chapitos copper-gold project in southern Peru.Chapitos is located in the Arequipa province, near the Chala mining hub. This is the Peruvian Iron Oxide Copper Gold belt, which also hosts Minsur's Mina Justa, an open-pit deposit whose output is of 90,...Read More
Jason and Harley talk about the environmental movement and who profits, the disappearing middle class, and the loss of production in the United States with NAFTA. Harley says we've lost the understanding of wealth, citing examples of production going offshore, energy production going back to solar and wind power, and how we don't even consume most of what we produce because it's shipped overseas....Read More
New mining projects, particularly in the gold sector, are expected to drive strong economic growth in Canada's far north, with Yukon and Nunavut surpassing the rest of Canada by 2010, a new report shows.According to The Conference Board of Canada's latest Territorial Outlook, the nearby Northwest Territories (N.W.T.), however, face challenging times as the diamond industry there matures and prod...Read More
Portfolio Manager, attorney, finance author, a regular guest on North American media. Danielle Park is the author of the best selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," as well as a popular daily financial blog: www.jugglingdynamite.com. Danielle worked as an attorney until 1997 when she was recruited to work for an intern...Read More