On Thursday, Mr. Draghi held a press conference. But the real thunderbolt hit on Monday, when Ms. Merkel announced that she would step down this year as a leader of her conservative party. Will that lighting make gold shine?Draghi Says That We Shouldn’t WorryLet’s start with the latest ECB’s monetary policy statement and the following Draghi’s press conference. In short, th...Read More
The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More
Last month in this space, I penned an essay titled "Are Silver and Gold 'at the Flood'"?. A few weeks later, two other essays on another widely-read site discussed this topic from the same perspective and sourcing – a case of "great minds thinking along similar lines"?Please take time to read or review that Money Metals Exchange Post of August 28.I made the case of a misalignment in the prec...Read More
As we have noted over the many years of the gold sector’s bear market, the gold miners will not rally for real until the real sector and macro fundamentals come into place. Those fundamentals do not include commonly promoted inflation, China/India “love” trades, a US dollar collapse or especially, war, pestilence or any other human misery than economic. The more astute gold bugs...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 7.Base metals on the London Metal Exchange pushed higher during morning trading, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm...Read More
Gold falls early in 2018.History tells us to be careful.Gold is waiting for silver to validate its strength.The rate hike is baked inside this gold bar.Levels to watch and a pair of products for short-term trading.The dollar index rose to a new high for 2018 on the final day of October when the December futures contract hit a peak at 96.980. The last time that the dollar traded at a higher level w...Read More
Gold and its miners’stocks have proven rare bastions of strength during recent weeks’ marketcarnage. They are powering considerablyhigher 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 remain...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 7.Base metals prices on the Shanghai Futures Exchange were down across the board during Asian trading hours, as skepticism once again washed over previous positive sentiment brought by Chinese President Xi Jinping's promise to open the country's economy to the world.Che...Read More
• The US midterm election results-led USD weakness helps regain positive traction. • A fresh leg of a downfall in the US bond yields provides an additional boost. • Further gains are likely to remain capped amid the prevalent risk-on mood. Gold quickly reversed a knee-jerk slide to four-day lows and was now seen building on its...Read More
The US$ index is breaking higher. Its trading at 96.41 as we pen this. A daily close above 96.61 marks a new 52-week high and puts the dollar in position to eventually retest its bull market high at 104. If this strength continues then the relief rally in precious metals could be over. So why is that a bullish catalyst for Gold?First, we know that a real bull market is not going to begin until the...Read More
Only one digit has changed. But it may have profound consequences, sending the country closer to junk status. Meanwhile, Rome and Brussels clash over budget plan. Will that duel benefit or harm the yellow metal?Only One Notch Above Being JunkItalian drama continues. On Friday, Moody’s, one of the most significant rating agencies in the world, downgraded the Italian credit rating from Baa2 to...Read More
Published 20 Hours AgoUpdated5 Hours AgoReuters Leonhard Foeger | ReutersGold pared some gains on Wednesday but held firm as the dollar slid after the U.S. midterm elections delivered a split Congress and as investors looked ahead to a Federal Reserve meeting for signals on future interest rate hikes.Spot gold was up 0.01 percent at $1,226.53 per ounce having earlier hit $1,235.83, while U.S. gol...Read More
Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of U.S. shale companies are still struggling to turn a profit.A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute detail the "alarming volumes of red ink" within the shale industry. "...Read More
Different ways the gold to silver ratio will affect precious metals.Inverse head and shoulders technical analysis of the gold to silver ratio.Future possibilities of the gold to silver ratios.The gold to silver ratio, or the number of ounces of silver required to purchase one ounce of gold, is within a window of approximately 6 to 9 months whereby it will either strongly confirm or strongly deny t...Read More
I have now been a contributor at Seeking Alpha for seven years, during which time I have written for approximately six years, as I took a one-year hiatus. And, during that time, I have had the honor of penning almost 400 articles.During the six years I have been actively writing on Seeking Alpha, 30,000 of you have trusted me enough to begin following my work, as I just hit the 30,000-follower mar...Read More
Chris Wibbelman has joined warehouse and logistics firm Istim Metals as its president, based in Detroit. He will report into Istim Metals chief executive officer Michael Whelan and will be responsible for global strategy and development. The move reunites Wibbelman with Michael and Bill Whelan, with the latter being the co-founder of warehousing and...Read More
The amount of energy required to mine bitcoin, or digital gold as some proponents like to call it, is considerably higher than that of physical gold, a research study has found. In a research paper for The Nature International Journal of Science, Max Krause, a research engineer at the Oak Ridge Institute for Science and Education, and Thabet Tolaymat of the Environmental Protection Agency found t...Read More
Bix says since the Dems won the house, taking down the bad guys will go even faster. Bix also has a critical update on JP Morgan's silver market rigging... by Bix Weir from Road to RootaSo much going on these days! In this morning's "Horn of Zeese" I cover the ramifications of the Election results, JP Morgan being exposed, my Clif High interview and much more! Read More
Long-term contracts for cobalt hydroxide supply in 2019 have been heavily weighted toward lower payables year on year, with discussions centered around increasing availability of intermediates. But the extent of the likely hydroxide surplus' impact on next year's metal market is less clear. Since last year's mating season, Glencore has announced the restart of production at Katanga in the Dem...Read More
Bill Murphy explains exactly why silver is now the cheapest asset on the planet. He also shares what is in store for silver in the future...by Bill Murphy from the Gold Anti-Trust Action Committee (GATA)Remarks by Bill Murphy, ChairmanGold Anti-Trust Action Committee Inc.New Orleans Investment ConferenceFriday, November 2, 2018GATA's past and the future of gold and silverThanks for taking the time...Read More