Suppliers of long steel products in the European Union have been raising their offer prices for November deals in anticipation of strong demand and high manufacturing costs, Fastmarkets was told on Monday November 5.But the recent political uncertainty that has enveloped all the world's major markets was keeping customers quiet for now, and content to keep their buying activities confined to the s...Read More
WASHINGTON (Reuters) - Bitter U.S. political campaigns thundered to a hectic, unpredictable finish on election eve on Monday, as candidates scoured the country for votes in dozens of crucial races that opinion polls showed were still razor-close.Control of both chambers of the U.S. Congress and 36 governor’s offices are up for grabs on Tuesday in an election widely seen as a referendum on th...Read More
China's domestic rebar prices dropped on Monday November 5, with market participants taking a pessimistic view on demand and supply. Domestic Eastern China (Shanghai): 4,630-4,660 yuan ($672-676) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,450-4,480 yuan per tonne, down 10-20 yuan per tonneSpot rebar prices fell on Monday amid early-hours losses in the futures market...Read More
BRUSSELS/PARIS (Reuters) - The European Union has so far failed to find a country to host a special mechanism to trade with Iran and beat newly reimposed U.S. sanctions, three diplomats said, as governments fear being targeted by U.S. counter measures.Voicing opposition to U.S. policy on the day Washington announced a new raft of sanctions on Iran, the European Union reissued its Nov. 2 statement...Read More
CloseGain/LossGold $1230.50-$2.60Silver$14.64-$0.11XAU67.14-0.07%HUI149.83+0.26%GDM544.17-0.37%JSE Gold1162.02+28.85USD96.34-0.11Euro114.11+0.16Yen88.41UNCHOil$63.10-$0.0410-Year3.201%-0.014T-Bond137.50+0.34375Dow25461.70+0.76%Nasdaq7328.85-0.38%S&P2738.31+0.56% The Metals: Gold gained $1.30 to $1234.40 in Asia before it dropped back to $1227.00 in London and bounced back...Read More
By Ira EpsteinGold drifts in front of tomorrow's mid-term election results.https://www.iraepstein.com/ Read More
By Clint SiegnerAmericans will be headed to the polls to cast ballots in the midterm elections. Polling suggests that Democrats will return to power in the House of Representatives. Republicans are favored to hold on to the Senate.However, political polls have proven less than reliable. There are plenty of people expecting a surprise once the votes are counted.But there are many policies that wo...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12November 5, 2018''Stocks are super-attractive when the Fed is loosening and interest rates are falling. In sum: Don`t fight the Fed!'' Martin Zweig, fund manager, Winning on Wall Street ''You know a country is falling apart when even the governmen...Read More
By Ronan Manlyhttps://www.bullionstar.com/There has been a lot of media coverage recently about the re-emergence of central bank gold buying and the overall larger quantity of gold than central banks as a group have been buying recently compared to previous years. For example, according to the World Gold Council's Gold Demand Trends for Q3 2018, net purchases of gold by central banks in the thir...Read More
The Precious Metals sector continues to be viewed with disdain and skepticism by the vast majority of investors, which is exactly what you want and expect to see at the earliest stages of a major bullmarket. However, the charts continue to shape up well, as we will now see. Starting with the long-term 10-year chart for gold, we see that it is approaching completion of a more or less symmetrical...Read More
By Keith WeinerTerry Goodkind wrote an epic fantasy series. The first book in the series is entitled Wizard's First Rule. We recommend the book highly, if you're into that sort of thing. However, for purposes of this essay, the important part is the rule itself:"Wizard's First Rule: people are stupid.""People are stupid; given proper motivation, almost anyone will believe almost anything. Becaus...Read More
USDX's Friday's close was its highest weekly closing prices of 2018. This is an extremely significant confirmation of the bullish outlook for the US currency that followed the verification of the breakout above the inverse head-and-shoulders pattern. The implications are clearly bullish for the US dollar. But are they clearly bearish for gold? The yellow metal ended the week close to its October...Read More
By Avi GilburtSo, I heard that good news is now bad news and bad news is now good news in the market. Or was that bad news is bad news and good news is bad news? Or, was that bad news is bad news and good news is good news? To be honest, I just can't keep up with all the convoluted ways people try to explain how to view the market based upon news. And, it changes all the time.Last week, I heard...Read More
VANCOUVER , Nov. 5, 2018 /CNW/ - Northern Vertex Mining Corp. (NEE.V) (the Company") is pleased to announce that it has signed a flexible, unsecured working capital facility with Greenstone Resources II L.P. ("Greenstone") for up to US$10 million. The Greenstone facility is available in up to five tranches and the Company has drawn the first tranche of US$2.5 million. The Company expects to...Read More
- Eisman says U.K. is one of the biggest risks globally- He is betting against two UK banks in the lead up to Brexit- Eisman may short 50 other UK firms if "Trotskyite" Corbyn becomes UK PM- Eisman is famous for betting against the US housing market ahead of the 2008 subprime-mortgage crisisby Business Insider UKThe hedge-fund manager famous for betting against the US housing market ahead of...Read More
BRUSSELS (Reuters) - The European Central Bank has withdrawn the banking license of Malta’s Pilatus Bank, the island’s financial regulator said on Monday, as the European Commission acted to step up a disciplinary procedure against Maltese authorities.The ECB decision came after the chairman of the bank was charged in the United States over money laundering and bank fraud. The lender h...Read More
Turkish steel mills were quiet in the scrap import market at the beginning of the week, with prices remaining firm, sources said on Monday November 5.After booking a number of cargoes in the past week, Turkish steel producers paused their deep-sea purchasing activity on Monday.The most recent bookings put the price for HMS 1&2 (80:20) at $341 per tonne cfr for material from the United States.In th...Read More
SHANGHAI (Reuters) - The U.S.-China trade war is the “most stupid thing in this world,” Jack Ma, the chief of Asia’s most valuable public company, Alibaba Group Holding Ltd (BABA.N), said on Monday.The two countries have set tariffs on hundreds of billions of dollars of each other’s goods and U.S. President Donald Trump has threatened to slap tariffs on the remainder of Chi...Read More
Turkish domestic auto bundle scrap prices have gone down in line with falling domestic rebar prices, while ship scrap prices have risen thanks to strong imported scrap values, sources said on Monday November 5.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,750-1,940 ($322-357) per tonne delivered, widening downward from last week's TRY1,830-1,940 per tonne....Read More
(Reuters) - Amazon.com Inc (AMZN.O) said on Monday it would offer free shipping with no purchase minimum for the first time this holiday season, heating up the competition with Walmart Inc (WMT.N) and other rivals vying for customers’ Christmas shopping sprees.The U.S.-only promotion, effective from Nov. 5, waives the $25 minimum that customers outside Amazon’s loyalty club Prime must...Read More