Fastmarkets' weekly price assessments for the Russian domestic steel market will not be published on October 15, 2018, because of a public holiday affecting the regional office whose staff compile the assessments.Instead, the prices will be published on October 16, 2018.The assessments affected are the Russian domestic prices...Read More
ROME (Reuters) - Italy’s cabinet was due to meet later on Monday but the approval of the 2019 budget, which envisages a jump in the deficit that has upset financial markets and drawn criticism from the European Commission, slipped to Tuesday.The government, backed by the right-wing League and the anti-establishment 5-Star Movement, has already issued the financial framework for the budget, r...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday reiterated that he made no deal with Turkey to lift U.S. sanctions in exchange for the release of an American pastor who had been detained there and who returned to the United States over the weekend.“We had no deal with Turkey,” Trump told reporters at the White House. “I feel much differently about Turkey today than I...Read More
NEW YORK (Reuters) - In March, noted short-seller Andrew Left took a swipe at Netflix Inc’s stock, calling the online video company’s aggressive spending on content acquisition “unsustainable.”The stock took a brief dive on the Citron Research chief’s assertion, but the volume of bets against it has since dropped to the lowest in at least half a decade.Netflix bonds a...Read More
The Turkish deep-sea scrap market was silent on Monday October 15, with market participants waiting to see if an improved Turkish lira will help boost prices.The Turkish lira has picked up since the country freed the American evangelical pastor Andrew Brunson on Friday afternoon, whose detention over his alleged links to proscribed political groups resulted in political tension with the United Sta...Read More
PARIS (Reuters) - The United States still aims to cut Iran’s oil sales to zero and does not expect restored oil sanctions against Tehran to have a negative impact on a market that is well-supplied and balanced, a senior U.S. official said on Monday.U.S. special envoy for Iran, Brian Hook, was talking to reporters after a visit to India, a major importer of Iranian oil, and talks with officia...Read More
Turkish domestic scrap prices have fallen over the past week because the country's lira has started to regain some of its former value, sources said on Monday October 15.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,850-2,040 ($315-347) per tonne delivered on Monday, compared with last week's TRY1,900-2,040 per tonne.The rise in the assessment came after s...Read More
CloseGain/LossGold $1225.40+$7.40Silver$14.69+$0.08XAU70.45+1.70%HUI155.88+1.68%GDM557.90+1.37%JSE Gold1252.10+97.79USD95.08-0.20Euro115.81+0.22Yen89.21+0.03Oil$71.78+$0.4410-Year3.154%+0.001T-Bond138.4375-0.28125Dow25250.55-0.35%Nasdaq7430.74-0.88%S&P2750.79-0.59% The Metals: Gold gained $15.30 to $1233.30 in Asia before it chopped back lower in London and New York, but...Read More
By Ira EpsteinGold a bit overbought, but rallying on Italian, Brexit and Saudi issues.https://www.iraepstein.com/ Read More
I've read many comments to the effect that the next financial crisis will be like 2007-2008, only worse. However, the sole reason that many people are talking about a coming 2008-like crisis is because the happenings of 2008 are still fresh in the memory. Market participants often expect the next crisis to look like the last one, but it never does. Consequently, the general prediction about the...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome in Dr. Stephen Leeb, Chief Investment Officer at Leeb Capital Management. Dr. Leeb has decades of experience in the financial markets and has even authored seven well regarded books, including best sellers The Coming Economic Collapse: How to Thrive When Oil Costs $200 a Barrel, and Game Over: How to Prosper i...Read More
By Keith Weiner"You can't eat gold." The enemies of gold often unleash this little zinger, as if it dismisses the idea of owning gold and indeed the whole gold standard. It is a fact, you cannot eat gold. However, it dismisses nothing.This gives us an idea. Let's tie three facts together. One, you can't eat gold. Two, gold is in backwardation in Switzerland. And three, speculation is a bet on th...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12October 15, 2018 "There are three ways to make a living in this business: be first, be smarter, or cheat."- John Tuld, played by Jeremy Irons in Margin Call (2011) "If we're right, people lose homes. People lose jobs. People los...Read More
Thursday last week was a momentous day for the Precious Metals sector with gold, GDX and other ?ndices, and giant gold ETF, GLD all breaking out on impressive volume, and this development was all the more extraordinary because it happened when the broad stockmarket was crashing. This is viewed as a strong sign that instead of being dragged lower still by a crashing stockmarket, the PM sector wil...Read More
By Larry LaBorde Once again the lovely Miss Puddy accompanied me to the beach on the Florida panhandle for a week of rest and relaxation. The end of September is the perfect time for the beach in Florida as it is not too hot but still nice and warm with gentle sea breezes every afternoon. The crowds have also gone and the traffic is much better. Unfortunately hurricane Michael did not get...Read More
By Avi GilburtI think we have all seen many episodes of fake news in the media when it comes to politics. However, what is even more pervasive is fake news in financial analysis. And, I was urged to write this quick public note to set the record straight.I have railed for years against those analysts who have pointed to news events to explain what has happened in the market, especially as an exc...Read More
Seaborne iron ore prices were rangebound amid a quiet market on Monday October 15 with uncertainties emerging over steelmaking restrictions in east China.MB 62% Fe Iron Ore Index: $71.66 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.69 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.34 per tonne cfr Qingdao, down by...Read More
By Avi GilburtSentiment is a funny bedfellow. When the metals market was at the lows back in August, everyone and their mother were again certain that we were going to break below $1,000 in gold. Yet, that exact sentiment is what kept us from doing so, no different than what we saw at the end of 2015.Currently, the sentiment has been turning bullish again, with many thinking the current rally is...Read More
VANCOUVER , Oct. 15, 2018 /CNW/ - Northern Vertex Mining Corp. (NEE.V) (OTC Nasdaq Intl.: NHVCF) (the "Company" or "Northern Vertex") is pleased to announce a number of financing transactions intended to improve free cashflow during early production at the Company's Moss Mine. Highlights of the transactions include:Sprott Resource Lending amends monthly principal payments from US$1,111,111 to...Read More
"It Always Pays To Hold Some Gold"by John Stepek of Money Week"We have interest rates going up at a clip that's much faster than certainly a lot of people, including myself, would have anticipated. I think the Fed is out of control."Central banks are independent, in theory. But that won't stop the president of the US from giving his full and frank opinion on their performance.Gold Britannias 201...Read More