Cyclical Assets vs. GoldIn January of 2018 we noted a cyclical leader (Semiconductor Fab Equipment) in trouble: Semi Canary Still Chirping, But He’s Gonna Croak in 2018. We also ran a series of articles featuring the happy-go-lucky 3 Amigos (of the macro) in order to gauge a point when larger herds of investors would become aware of cyclical issues facing the global (including the US) econom...Read More
This year has seen a lot of volatility in the financial markets, Bitcoin, precious metals and other commodities. Frank Holmes, CEO and CIO of U.S. Global Investors, takes a look back on the lessons he has learned, and also looks ahead to what 2019 may bring.The Gold Report: Frank, thanks for joining us today. Let's start with what lessons you've learned from the markets in the past year. Frank Hol...Read More
Turkey produced 3.10 million tonnes of crude steel in November 2018, a 2.1% decrease compared with November 2017, according to the Turkish Steel Producers Association (T???oeD).In January-November 2018, crude steel production in the country was 34,429,000 tonnes, a 0.51% year-on-year rise compared with 34,256,000 tonnes produced in January-November 2017, T???oeD said last week.The country produced...Read More
Brazil's apparent steel consumption increased by 6.90% year on year in November, to 1.70 million tonnes, mostly due to an improved performance in the flat steel sector, according to the national steel association A??o Brasil.Apparent consumption of flat steel products grew by 11.70% in the same comparison, to 1.10 million tonnes, while long steel use declined by 0.80% year-on-year, to 606,000 tonn...Read More
Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...Read More
Featured GuestsBob Hoye & David MorganHappy Holidays - Merry Xmas & Happy New Year!Show HighlightsPart II of the discussion with the head of The Morgan Report includes an update on gold. The PMs sector remains at bargain levels, a relative value to virtually every competing asset class and core of every solid investment portfolio. Gold aficionados may be enjoy a sea-change in market sentiment in...Read More
By Jordan Roy-Byrne CMT, MFTA Although yours truly has yet to completely jump on the bull bandwagon (which has revved up recently), I cannot ignore the positive fundamental and technical developments for precious metals. On the fundamental side, the market is essentially pricing in no hikes for 2019 and the start of rate cuts in 2020. For Gold, that is a huge improvement from just a few months...Read More
29 December 2018 -- SaturdayYESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM By Ed Steer The gold price was up five dollars or by shortly after the London open on their Friday morning. It was sold a bit lower at that juncture, but began to creep higher shortly after London closed -- and gold finished the Friday session in New York, close to its ea...Read More
By John MauldinPowell Was Right but the Fed Is WrongTime for an Emergency Fed MeetingLiving on Island TimeQuick Shots from the FrontlineA winters day,In a deep and dark December..."Wait, it doesn't feel like winter. It's not deep and dark, and it's actually warm, and the sun is shining. Toto Shane, I don't think we're in Kansas Texas anymore."Yes, we have actually moved from Texas to a new locat...Read More
By Daniel R. Amerman, CFAThe "Plunge Protection Team" is the colloquial name for the Working Group on Financial Markets (WGFM). The Working Group was established by the executive order of President Reagan in 1988, in the aftermath of the stock market plunge of October, 1987. The group reports to the President, and the official members of the group include the Secretary of the Treasury, the chair...Read More
By David HaggithThe market's last chaotic day closed in a way that befit the entire year. Up, down, up harder, down harder, and done!It looked like the violence of the day may have come from the Plunge Protection Team attempting to push the market up in the middle of the afternoon, except that the middle of the afternoon doesn't fit the PPT's MO because the birthing-sized push didn't come in the...Read More
Let My Passion Create Your Wealth.I've Been Helping My Subscribers Weather the Current Economic Mess. Now I Invite You to Join My Growing Circle of Successful Investors.The Morgan Report is all about YOU and how you can build and preserve Wealth for generations to come. We know it can sometimes seem a daunting task to protect your assets and preserve or grow your wealth. Over 15 years ago, a sma...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
RAPAPORT... Nevada-based Adamas One Corp. has bought all assetsbelonging to Scio Diamond, a producer of lab-grown diamonds. Adamas will pay $3.3 million over 18 months to cover Scio's secured debt, according to a December 11 filing with the US Securities andExchange Commission. Scio will also receive 350,000 shares of Adamas stock, which it will useto settle its unsecured debts of more than $...Read More
RAPAPORT... TrueFacet, a platform for pre-owned luxury watches andjewelry, is offering nearly $10 million in shares in its latest fundinground. The New York-based marketplace has raised $7.1 million of thetarget so far, according to a December 26 filing with the US Securities and ExchangeCommission. Including that amount, it has procured $21.8 million oversix rounds, according to investment s...Read More
RAPAPORT... The Damiani family plans to acquire the Italian jewelerthat bears its name, thereby delisting it from the Milan Stock Exchange. Leading Jewels, the Damianis' holding company, hasoffered to buy the entire group for up to EUR 11.8 million ($13.5 million), itsaid Friday. It proposes to spend EUR 0.86 ($0.98) per share, representing a 5%premium to the stock's Thursday closing price, it add...Read More
RAPAPORT... De Grisogono has appointed C?(C)line Assimon as CEO, taskingher with international brand development and product expansion. Assimon will succeed John Leitao, who has been with the Swissluxury jeweler since May 2013. She was previously the director of high jewelryand exceptional pieces at Piaget, and worldwide head of jewelry and watch salesat Louis Vuitton. "With [C?(C)line's] ex...Read More
(IDEX Online) - The Supervisory Board of ALROSA has approved a new edition of its policy on sustainable development and corporate social responsibility. The previous edition of the policy has been in force since 2014. "The company has improved its practices in this area since then, including those in terms of membership in number of international industry organizations - Diamond Producers A...Read More
Under the contract, Albemarle had agreed to provide as much as 25 percent of its annual production at a discount to companies seeking to produce battery metals within Chile.Read full newsRead More