* Trump and Xi agree on 90-day trade truce to negotiate * Palladium hovers below record highs hit on Friday * GRAPHIC-2018 asset returns: (Updates prices)By Swati VermaBENGALURU, Dec 3 (Reuters) - Gold climbed to its highest innearly a month on Monday as the dollar weakened after the UnitedStates and China agreed a temporary truce in their trade war.Spot gold was up 0.8 percent at $1,231.25 an oun...Read More
Updated - Bear market forces are building according market historian Bob Hoye from ChartsandMarkets.com. In his latest interview with Jim Goddard, Hoye points out that the world stocks outside of the US hit their highs in January, the month after the bitcoin bubble blew out. Those peaks foreshadowed the setup for a potential bear market in stocks.Click to listen to Bob Hoye's November 30th broadc...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index slid as far as 1059.22 for a 25 point decline before fighting back strongly, to finish the week down just 5 points at a close of 1077.52.MACD rose strongly, gaining 3.6 points to finish in the black at 0.63. RSI gained 14% or 4 points to close at...Read More
Chinese hot-rolled coil prices surged on Monday December 3 after the United States and China agreed to a truce to their trade war over the weekend, although there are doubts about the sustainability of the uptrend due to weak demand.DomesticEastern China (Shanghai): 3,690-3,730 yuan ($530-536) per tonne, up 100-120 yuan per tonneNorthern China (Tianjin): 3,620-3,650 yuan per tonne, up 150-170 yuan...Read More
China's ferrous futures continued to experience a weak first half of the day, with contracts slumping across the board during morning trading on Monday December 3 despite news of a 90-day reprieve for trade tariffs between the country and the United States.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,327 yuan ($465) per tonne, down 99 yuan per tonneMay hot-rolled...Read More
US domestic merchant bar prices remain flat due to steady market conditions, along with import prices, even though sales and purchases of material from Mexico and Taiwan have been reported in the US South and Southwest. But a rise could loom for January, sources said.Fastmarkets AMM assessed domestic 2- x 2- x 1/4-in angle merchant bar at $38.05 per hundredweight ($761 per short ton) fob mill ...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: wire rodWire rodRussia, export, wire rod, traded at $508-509...Read More
Import prices for rebar in Singapore softened further over the past week with the supply of Chinese products remaining ample.Fastmarkets MB's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $500 per tonne cfr for the week to Monday December 3, down $10-20 per tonne from $510-520 per tonne cfr a week ear...Read More
The Turkish steel producers have started another working week without any deep-sea bookings due to the uncertainty in the market and sluggish demand for finished steel goods, sources said on Monday December 3.A number of market participants reported various offers and bids at the beginning of the week, but no transactions were completed, Fastmarkets was told.Some sources said that offers from supp...Read More
The new 65% Fe iron ore derivatives launched by the Singapore Exchange (SGX) have registered 150,000 tonnes of cleared trades on their first day of trading, the exchange said on Monday December 3. Launched in response to calls for more efficient risk-management tools in the steelmaking raw materials market, and settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB, the SGX...Read More
CloseGain/LossGold $1230.80+$9.10Silver$14.37+$0.20XAU65.84+2.14%HUI148.35+2.29%GDM540.63+1.67%JSE Gold1104.90+6.09USD97.01-0.18Euro133.48+0.28Yen88.07-0.14Oil$52.95+$2.0210-Year2.984%-0.018T-Bond141.3125+0.15625Dow25826.43+1.13%Nasdaq7441.51+1.51%S&P2790.37+1.09% The Metals: Gold gained $13.10 to $1234.80 by late morning in New York before it drifted back lower into the...Read More
A Monday Morning Musing from Mickey the Mercenary GeologistContact@MercenaryGeologist.comDecember 3, 2018 Along with many in the natural resource business, I read Ian Telfer's dire prediction for world gold production in a May 16, 2018 interview with Canada's Financial Post with interest. Here's an excerpt: "Are we not looking for it? Are we bad at finding it? Or have we found it all? My answe...Read More
By Clint SiegnerJPMorgan Chase and a number of other bullion banks are in a whole lot of trouble. Evidence detailing years of rigging markets and swindling clients is piling up.Deutsche Bank pleaded guilty two years ago and forked over hundreds of thousands of documents. John Edmonds, a former JPMorgan trader, entered his own guilty plea last month and turned state's evidence.The carefully culti...Read More
By Dave KranzlerThe market is already fading quickly from the turbo-boost it was given by the announcement that China and Trump reached a "truce" on Trump's Trade War - whatever "truce" means. Last week the stock market opened red or deeply red on several days, only to be saved by a combination of the repetitious good cop/bad cop routine between Trump and Kudlow with regard to the potential...Read More
TSX Venture Exchange (TSX-V): GRGFrankfurt Stock Exchange (FSE): G6A OTCQB Venture Market (OTCQB): GARWFVANCOUVER , Dec. 3, 2018 /CNW/ - Golden Arrow Resources Corporation (TSX-V: GRG, FSE: GAC, OTCQB: GARWF), "Golden Arrow" or the "Company" is pleased to announce that the Company's joint venture partner in Puna Operations Inc., ("Puna") has declared commercial production at the Chinchillas si...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12December 3, 2018"Buy when you are scared to death; sell when you are tickled to death." market maxim (Cabot Market Letter, April 12, 2001) "There's nothing wrong with cash. It gives you time to think." Robert Prechter, Jr. (Elliott Wave theorist...Read More
By John MauldinThis Is NutsFrom Pyramid to RectangleRedefining RetirementDemographic Problems and OpportunitiesPuerto Rico, Cleveland, and Boca RatonIn an increasingly divided world, we all share one great desire: self-preservation. Not just humans, either. The survival instinct exists in almost every living thing. Humans simply have greater ability to do something about it.In fact, we have been...Read More
By Keith WeinerWhat is inflation?Any layman can tell you and nearly everyone uses it this way in informal speech that inflation is rising prices. Some will say "due to devaluation of the money."Economists will say, no it's not rising prices per se. That is everywhere and always the effect. The cause, the inflation as such, is an increase in the quantity of money. Which is the same thing as sayin...Read More
By Gary TanashianThe Fed blinked. This was not news to Macro Tourist Kevin Muir or readers of Biiwii.com, which is very pleased to publish his work.Fed Finally BlinksAmid a weakening global economy, gathering signs of weakening in the US economy and a dump in inflation expectations, Jerome Powell implied that the Fed may be going on hold for a while after a December rate hike.This graph from SG...Read More
By Avi GilburtFor those literary enthusiasts amongst us, you would recognize the title as the line supposedly penned by Mark Twain when it was inquired of him while in London regarding a published obituary written in the United States. However, more accurately, his response to the reporter's inquiry was "The report of my death was an exaggeration." But, I digress.When Mr. Powell reported that...Read More