China's hot-rolled coil (HRC) prices dropped on Tuesday December 11 amid sparse trading both domestically and in the export market.DomesticEastern China (Shanghai): 3,710-3,720 yuan ($537-538) per tonne, down 10-30 yuan per tonneNorthern China (Tianjin): 3,530-3,560 yuan per tonne, down 50 yuan per tonnePrices were lower due to sparse trading today, a Zhejiang-based trader said.The...Read More
The latest news and price moves to start the Asian day on Wednesday December 12.Base metal prices rose on the London Metal Exchange by the close on Tuesday December 11, with copper surging after market sentiment was boosted by positive news of easing tensions between China and the United States. Read more in our live futures report.Here are how prices looked at the close of trading:Saudi Arabia ha...Read More
Saudi Arabia has not imported rebar in 2018 and cannot utilize its full production capacity due to weak domestic demand, Ahmed Al-Hussain, rebar director of Saudi National Committee for Steel Industry said at Fastmarkets MB's Middle East Iron and Steel Conference in Dubai on Tuesday December 11.Saudi Arabia has a combined rebar and wire-rod production capacity of 13.5 million tonnes per year, yet...Read More
Brazilian imports of flat steel products dropped year on year in November, while long steel shipments increased in the same period, according to figures from the country's foreign trade ministry, MDIC. Imports of flat steel fell by 8.78% year on year in November to 93,615 tonnes, compared with 102,626 tonnes in the corresponding month of 2017. China was the largest provider of flat steel to Brazil...Read More
Turkish steel mills remained out of deep-sea scrap markets on Tuesday December 11 because of continued uncertainty in the Chinese steel market, sources told Fastmarkets MB.Market pessimism weighed on China's rebar prices in both the domestic and the export market again on Tuesday December 11.Buyers kept procurement rates low amid bad weather in China, with work suspended at many construction sites...Read More
CloseGain/LossGold $1243.00-$1.30Silver$14.55+$0.03XAU67.09-0.46%HUI152.82-0.78%GDM558.66-0.31%JSE Gold1249.83+2.68USD97.42+0.21Euro113.22-0.35Yen88.22-0.12Oil$51.65+$0.6510-Year2.879%+0.025T-Bond143.90625-0.15625Dow24370.24-0.22%Nasdaq7031.83+0.16%S&P2636.78-0.04% The Metals: Gold gained $5.20 to $1249.50 in London before it chopped back down to $1241.10 by midafternoon...Read More
By Ed Steer11 December 2018 -- TuesdayYESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMThe gold price went vertical the moment that trading began in New York at 6:00 p.m. EST on Sunday evening in New York. but the short sellers of last resort were there in seconds -- and from that point the price chopped quietly sideways until shortly before 3 p.m. China Standard Time on their Monday afternoon...Read More
By Craig HemkeEach of the past five years, we've predicted a year-end and new-year rally in precious metals. And for each of the past five years, the market has performed as forecast. So, what can be expected as 2018 becomes 2019? Let's begin with the past. As mentioned above, each of the past five years have seen year-end gold and silver price rallies. These rallies have begun around the time o...Read More
The Global Financial Crisis, a broader deeper more powerful systemic crisis than the Lehman Event was, has finally arrived in a great redux. It is seen in numerous areas. We have finally arrived at the ten-year anniversary of the Lehman event, a killjob whereby JPMorgan and Goldman Sachs bought a few $billion in mortgage bonds and never paid Lehman Brothers. The firm died, called a financial fai...Read More
By Dave KranzlerI chuckle when the hedge fund algos grab onto "positive" trade war headlines and trigger a sharp spike in stock futures. Settlement of the trade war between the Trump Government and China will do nothing to prevent a global economic recession - a recession which will likely deteriorate into a painful depression. The Central Bank "QE" maneuver was successful in camouflaging an...Read More
Graceland UpdatesBy Stewart Thomson 1. Where are the populist government leaders who are cutting their outrageous government debts? 2. The answer, unfortunately, is that they do not exist.3. Citizens riot in France over insane fuel taxes, central bankers resign in India, markets crash in America, and England's citizens watch their Brexit turn into an overpriced wet noodle.4....Read More
In two short months market psychology has undergone radical transformation Two months ago we warned of October being the month markets have been known to go bump in the night - 1907, 1929, 1987, 1997, 2007, 2008. Sure enough, on October 2 the Dow Jones Industrial closed at 26,828. By the end of the month, it stood at 25,115 - down over 1700 points and nearly 6.5%. Since then stock market psychol...Read More
By RambusTonight I would like to show you some charts from the PM complex we haven't looked at in a long time. Some of these charts will look familiar to some of our long term members as they were very helpful in the past to help us figure out what the PM complex was up to. This first chart is a ratio combo chart which has the GOLD:XAU on top and the XAU on the bottom. When the ratio is rising g...Read More
A few years ago the Swiss National Bank (SNB) - which traditionally held "monetary assets" like government bonds, cash and gold to back up the Swiss franc decided to branch out into common stocks.This was a departure, but for a while a brilliant one. The SNB loaded up on Big Tech like Apple, Amazon and Microsoft, and rode them to massive profits, which enriched both the Swiss people and the SN...Read More
155,000. The November job gains disappointed. But the unemployment rate remained at 3.7 percent. What does it all mean for the gold market? Job Creation Disappoints, but Unemployment Rate Is Still Low U.S. nonfarm payrolls slowed down in November. The economy added just 155,000 jobs last month, following a rise of 227,000 in October (after a downward revision). Moreover, the weak headline num...Read More
By Avi GilburtThis past week was quite interesting, as well as volatile. On Monday, we had a huge gap up right into the initial resistance region we had on our charts in the 2810-15SPX region. In fact, the futures struck a high of 2813ES, and then turned down.Well, when the trading day opened on Monday, analysts and market participants were quite certain that the "cause" of the rally was due t...Read More
In a wide-ranging conversation, Bob Moriarty of 321 Gold discusses with Maurice Jackson of Proven and Probable geopolitics, economics, Bitcoin, precious metals and more.Topics include:- Gold- Silver- Platinum- Palladium- Trump- Bitcoin- Miramont Resources- Irving Resources- Novo ResourcesBob brought 321gold.com to the Internet almost 14 years ago. They later added 321energy.com to cover oil, natur...Read More
Known primarily by his nickname "Turd Ferguson," Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.Read More
Join Mike Maloney as he reveals an important factor of the partial Yield Curve inversion that is being ignored by mainstream news and media. Then stick around to the end of the video to see yet another indicator that is suggesting a huge change in markets could be upon us.Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global l...Read More
Max interviews Michael Pento of PentoPort.com about the latest in markets and yield curves: does the inverted yield curve even mean anything?Max Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT. He presents a weekly show about finance and markets on London's Resonance FM, and writes for The Huffington Post. Keiser invented "Virtual Speci...Read More