CloseGain/LossOn WeekGold $1234.00+$3.70+0.62%Silver$14.70+$0.08+0.48%XAU65.17+0.68%-7.02%HUI144.65+0.86%-7.03%GDM530.73+0.31%-5.03%JSE Gold1213.58+13.07+1.56%USD96.35-0.28+0.66%Euro114.20+0.45-0.78%Yen89.42+0.40+0.34%Oil$67.59+$0.26-4.82%10-Year3.079%-0.045-3.66%Bond139.375+0.65625+1.11%Dow24688.31-1.19%-2.97%Nasdaq7167.21-2.07%-3.78%S&P2658.69-1.73%-3.94% The Metals: Go...Read More
By Ira EpsteinGold continues to shine due to stinking stock market.https://www.iraepstein.com/ Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort192,578163,19073,950163,414209,934429,942447,074Change from Prior Reporting Period 3,378-8,3432,672-2,72911,7953,3216,124Traders19187935454288197 Small Speculators (C) GoldSeek.com LongShortOpen Interest 47,89030,758477,832 93-2,7103,414 non reportable positionsChange from the...Read More
Gold and its miners' stocks have proven rare bastions of strength during recent weeks' market carnage. They are powering considerably higher while nearly everything else burns. The markets' major sentiment shift is accelerating a young gold upleg, which ought to grow much larger as speculators and investors continue returning. Their collective gold positioning remains very low, making for...Read More
By Darryl Robert Schoon In January 2009, when bitcoin was released, its value was "basically nothing" ~wikipedia. Eight years later in January 2017, bitcoin was at $986 and in December reached $19,783, an astounding one-year rise of 1,900 %, outperforming the 1,500 % historic increase in the Dow from 1982 - 2000. In 2018, bitcoin lost 66 % of its value. Bitcoin's spectacular rise and fall w...Read More
By Avi GilburtThey say that when the former bears turn bullish, that is often the sign of a top.Source: Caters/Legion MediaFor the last three years and during the 64% rally in the S&P 500 from 1800 to 2940, many analysts were quite bearish, expecting the market to top out each and every week. They continued to point towards the "risks" in the market, all the while helping develop that wall of wo...Read More
Wait, what?! Isn't the inverse head-and-shoulders a bullish pattern that was supposed to take gold miners much higher? Indeed, it is. But it didn't take gold miners much higher and all that the completion of the above-mentioned pattern generated was a corrective upswing that didn't even take gold stocks back above their December 2016 lows. And we warned that this is the likely outcome as the mor...Read More
Dear Friend of GATA and Gold:Silver market analyst Ted Butler today marvels at the frantic movement of huge amounts of silver among the vaults of the New York Commodity Exchange, and wonders why it is happening and why it gets no notice from other market analysts.Butler speculates that the cause is physical demand by JPMorganChase, which seems to have become the master of the silver and gold mar...Read More
Easy come, easy go. AMZN stunned traders with a 135-point gain Thursday from the bombed-out depths of Wednesday's selloff. Then, after the close, the stock reversed steeply, shedding 180 points and sucking tens of billions of dollars from stock markets in the U.S. and around the world in mere minutes. A disappointing forecast for the holiday season triggered the avalanche, which has abated somew...Read More
Golden Nuggets: Key Gold and Precious Metals News, Commentary and Charts This WeekHere is our Friday digest of the important news, commentary, charts and videos we were informed of this week.The old Wall Street adage is that they "never ring a bell at the top" but there was a real sense this week that we may have seen a turning point. U.S. stocks including both the NASDAQ and the S&P 500 have s...Read More
Full Article: Has China Finally Lifted its Thumb off of Gold?By: Thomas LuongoThere's a lot of talk about the Yuan price of gold falling out of a price suppression channel. Both Zerohedge and Nomura have weighed in on this.The Yuan price of gold surged overnight to above CNY 8500 per ounce which is a major breakdown. But it's also indicative of something that has long been suspected during...Read More
Sentiment in Turkey's flat steel market remained negative in the week ended Friday October 26, with prices going down, sources told Fastmarkets.Market participants did not expect local demand to improve until at least the end of 2018, because of the unwillingness to restock before the year-end. But they were uncertain about further price falls because of high costs for scrap and other raw material...Read More
Global miner Vale has room to replace sales of lower-quality iron ore with high-quality material, due to the scale potential at its S11D mine and a pellet feed brownfield project.The company will continue to increase production at its S11D iron ore mine, in Brazil's northern Caraj??s region, and invest in pellet facilities, while continuing to gradually reduce output of lower-quality iron ore, chi...Read More
Joint acquisition partners ArcelorMittal and Nippon Steel & Sumitomo Metal Corp (NSSMC) are looking to India as a growth market after ArcelorMittal won the bid to buy insolvent Essar Steel. "India is one of the most promising markets in the world with significant growth potential in the medium- and long-term and where domestically-produced steel products have a superior position," NSSMC said in it...Read More
Currently, gold is trading at $1,226/Oz - up 0.6 percent this week, having scored gains in the previous three weeks. More importantly, the yellow metal likely reemerging as a safe haven asset as it is about to end the week on a positive note, despite a 0.73 percent weekly gain in the dollar index (DXY), Further, a sustained drop in the CNY could bode well for the yellow metal. At 6.94 per USD, the...Read More
The global selloff has erased $5 trillion from stock and bond markets in October alone! October is a historically bad month for stocks. Many of the most dramatic crashes have begun during this month. The global market crash of 2018 seems to be in line with this trend and the crash is indeed global.This same trend has occurred prior to other major historical market crashes, whereby other countries...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
New Gold generated operating cash flow of $43.2 million and net loss of $1.6 million in Q3.Rainy River's Q3 performance was disappointing once again.There is a light at the end of the tunnel, as Rainy River did very well in September.If the September Rainy River production numbers are also reached in the coming months, Q4 may become a turning point for New Gold.New Gold (NGD) released its Q3 2...Read More
Pig iron exporters in Brazil kept their prices low during week ended Friday October 26, despite the national currency becoming stronger.Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region on October 26 was stable at $350 per tonne fob.One cargo from southern Brazil was...Read More
Ferrous scrap prices moved in differing directions in the various global markets over the week from Monday October 22 to Friday October 26, depending on their market fundamentals.Import prices in the key Turkish market were on a slight upward trend due to consistent demand, while prices in Asia dipped because there was sufficient supply and weak demand.Export prices on the West Coast of the United...Read More