LONDON (Reuters) - Britain wants a Brexit agreement by the end of November and Prime Minister Theresa May would give a speech on Nov. 19 saying she had delivered on the referendum with a deal which brings the country back together, the BBC reported on Tuesday.However, a spokesman at May’s Downing Street office dismissed the report which outlines a detailed timetable in which the BBC cited a...Read More
ANKARA (Reuters) - President Tayyip Erdogan said on Tuesday Turkey would not abide by the renewed U.S. sanctions on Iran’s oil and shipping industries, adding that they were aimed at “unbalancing the world”.The comments came a day after Washington reimposed sanctions on Iran, abandoning a 2015 deal between world powers and Iran over its nuclear program. The U.S. measures temporar...Read More
NEW YORK, Nov 6 (Reuters) - U.S. Treasury yields briefly pared their rise on Tuesday following solid demand for a record amount of 10-year government notes, the second leg of this week's $83 billion quarterly refunding.At 1:22 p.m. (1822 GMT), the yield on benchmark 10-year Treasury notes was 3.212 percent, up 1.3 basis points from late on Monday. (Reporting by Richard Leong; Editing by Chris Rees...Read More
China's hot-rolled coil prices fell on Tuesday November 6 after investor sentiment was dampened by Tangshan's "smaller-than-expected" capacity cuts, with trading sparse both domestically and in the export market.DomesticEastern China (Shanghai): 4,020-4,040 yuan ($581-584) per tonne, widening downward 10 yuan per tonneNorthern China (Tianjin): 4,000-4,010 yuan per tonne, down 30 yuan per tonneSell...Read More
NEW YORK (LPC) - Elon Musk's Space Exploration Technologies Corp, known as SpaceX, is looking to line up a $750 million leveraged loan, sources said.Bank of America Merrill Lynch is leading the transaction. A lenders presentation will be held by the SpaceX management team on November 7.SpaceX makes rockets and spacecraft. The company was founded by Elon Musk in 2002 as a way to help humans live on...Read More
The price of rebar imported into the United Arab Emirates fell in the week to Tuesday November 6, on continuing limited demand.The billet import market was also slow because mills in the UAE have enough billet in stock to last for more than two months, sources told Fastmarkets.Domestic rebarLocal producers were still offering rebar at 2,016 dirhams ($549) per tonne ex-works this week.And Fastmarke...Read More
PARIS (Reuters) - The decline of diesel engines will support the growing use of aluminum in vehicles as the auto industry pursues lighter models to meet emissions targets, the head of aluminum parts maker Constellium (CSTM.N) said on Tuesday.As a lighter but costlier alternative to steel, aluminum has become a significant part of premium car models and efforts to bring electric-powered vehicles to...Read More
SAN FRANCISCO (Reuters) - Facebook Inc blocked about 115 user accounts after U.S. authorities tipped it off to suspicious behavior that may be linked to a foreign entity, the company said in a blog post on Monday, hours before U.S. voters head to the polls.The social network said it needed to do further analysis to decide if the accounts are linked to Russia’s Internet Research Agency or ano...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transactions: rebarRebar Saudi Arabia, export, rebar, offered at $540 per tonne cfr on theoretical weight basis, to the UAE....Read More
CloseGain/LossGold $1226.40-$4.10Silver$14.52-$0.12XAU66.31-1.24%HUI147.83-1.33%GDM541.35-0.52%JSE Gold1137.32-24.70USD96.28-0.06Euro114.16+0.05Yen88.23-0.18Oil$62.21-$0.8910-Year3.219%+0.018T-Bond137.28125-0.28125Dow25635.01+0.68%Nasdaq7375.96+0.64%S&P2755.45+0.63% The Metals: Gold gained $5.40 to $1235.90 in London before it fell to as low as $1223.60 in early afternoon...Read More
How did that "exhaustive" investigation of the silver market by the U.S. Commodities Futures Trading Commission miss this? How will the World Gold Council and most monetary metals mining companies continue to miss it? How many more anti-trust lawsuits will this prompt? Anybody seen Blythe Masters lately?* * *Former JP Morgan Trader Pleads Guilty to Manipulating U.S. Metals Markets for Years By H...Read More
By Craig HemkeIt has been an odd and frustrating year for COMEX Digital Gold and Silver. However, conditions exist that could drive prices back to unchanged or even slightly positive by year end. Let's begin by noting why and how this year got sideways on us. We were on the record stating that COMEX gold would break out of its 5-year "bowl" pattern by late 2018. Why did we think this? See the ch...Read More
By Ira EpsteinAfter the election results we get the FOMC and then opportunity?https://www.iraepstein.com/ Read More
Graceland Updates By Stewart Thomson 1. US elections are here! 2. Please click here now. Double-click to enlarge this big picture chart for gold. 3. From both a technical and fundamental perspective, gold looks solid. 4. This chart suggests that whatever happens in the US election, it's going to be positive for gold.5. One of my biggest predictions for the...Read More
By Stefan GleasonGold is the metal of kings, the ultimate money, an eternal store of value, an untarnishable embodiment of beauty. Gold is all those things. But it is not the most valuable metal you can own on a cost-per-ounce basis.Often, platinum commands a higher price than gold. Lately, platinum has traded at an abnormally large discount to the yellow metal.Metals investors who want to hold...Read More
Today, Americans are choosing new members of Congress. Will there be a blue wave? Or maybe red? Some people say that hot economy will help Republicans - is that true? Let's read out today's article about the latest US nonfarm payrolls and find out how could they affect the mid-term elections and the gold market. Hourly Earnings Jump Above 3 Percent U.S. nonfarm payrolls accelerated in Octob...Read More
CARACAS (Reuters) - Venezuela is seeking to repatriate about $550 million in gold bars from the Bank of England because of fears it could be caught up in international sanctions on the country, two sources with direct knowledge of the effort told Reuters.Source: ZeroHedgeVenezuela's hard currency holdings have dwindled as existing U.S. financial sanctions have effectively blocked President Nicol...Read More
COMEX FUTURES REPORT - Happy Kali PujaGold and silver should break free from the recent consolidation phase and form a new range. Copper and crude oil will be very volatile. I prefer to stay away from intraday trades in crude oil. No one knows what will be the effect on crude prices due to Iran sanctions. Risk traders should invest in crude oil for the year end with a stop loss below $58.30. T...Read More
China's domestic rebar prices kept their downward trend on Tuesday November 6 following the sharp decrease in futures. Domestic Eastern China (Shanghai): 4,590-4,640 yuan ($663-671) per tonne, down 20-40 yuan per tonneNorthern China (Beijing): 4,420-4,460 yuan per tonne, down 20-30 yuan per tonneRebar futures dropped sharply in early trading hours on Tuesday after the steelmaking hub of Tangshan r...Read More
FRANKFURT (Reuters) - Prosecutors searched the Munich offices of BlackRock (BLK.N) on Tuesday, a person with knowledge of the matter said, as part of the country’s largest post-war fraud investigation.The practice being investigated, known as cum-ex, typically involved trading company shares rapidly around a syndicate of banks, investors and hedge funds to create the impression of numerous o...Read More