In my first Premium Post back in January, "2019 Economic Headwinds Look Like Storm of the Century," I laid out sixteen major headwinds that would be howling against the economy this year. One of those was the government debt, which I said was about to skyrocket:If you thought the government deficit exploded last year when taxes were cut and spending was increased, wait until you see how bad it l...Read More
ASIAN METALS MARKET UPDATEMomentum for gold and silver is bearish. I am happy with the correction. There will be good demand in every Asian nation. Buyers and investors will vanish if gold and silver fall next week. European central bank meeting today can affect euro as well as bullion. Lower growth forecast for this year has already been factored in by the markets and such they will not impact....Read More
Base metals price on the London Metal Exchange were mostly lower at the close of trading on Thursday March 7, with price movements limited by a surge in the US dollar index above the psychologically significant level of 97, while both lead and tin futures retained support.The three-month lead price closed once more above its nearby resistance level of $2,100 per tonne, and continued to exhibit an...Read More
European aluminium ingot is trading at its lowest level in three years, sparking a significant decline in scrap prices on Wednesday March 6. Fastmarkets assessed the price of aluminium scrap and foundry ingots LM24 gravity diecasting ingot in the United Kingdom at ?1,370-1,420 ($1,801-1,867) per tonne on Wednesday, down from ?1,380-1,440 per tonne the week before and at its lowest level sin...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday March 7 that are worth another look.UC Rusal's net profit rose by 39% year on year in 2018 despite the aluminium producer operating under trading sanctions imposed by the United States for the majority of the year, Rusal said in its results statement on Thursday March 7. Fastmarkets summarizes six hot topics that will like...Read More
A push by the world's biggest gold miners to get even bigger will likely have a knock-on effect among their competitors, adding new vigor to an industry that failed to inspire investor support in 2018.The megamerger mania now underway for Newmont Mining Corp., Barrick Gold Corp. and Goldcorp Inc. is likely to result in some of their assets being sold, helping to diversify portfolios for other mine...Read More
By Kirk Spano, FATRADER.com I called the shale boom and the bust over at MarketWatch. I am also on record for calling the "beginning of the end of the oil age." However, that doesn't mean that there isn't what one subscriber called at least "one more puff on the cigar."For about the next decade, before the coming age of EVs, oil will still be in very high demand. During this time, the best oil co...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More
Gold prices keep bleeding and eyes are on $1,275/oz 38.2% Fibo. Gold is currently trading at 1284 within the day's range of between $1,281.01/oz and $1,289.01/oz. Gold prices have been under pressure with speculators bailing on signs that a trade truce deal was imminent. The price of gold started to decline from highs in the 1340s and continued to drop in a recovery in the greenb...Read More
Debt in 2019: Fed balance sheet & U.S. national debt to rise further.Institutional capital buying gold in a currency crisis will be like 'Hoover Dam going through a garden hose'.Fundamentals for silver are better than gold at this moment.SBTV welcomes Daniel Ameduri, Co-Founder of Future Money Trends and Crush The Street, back as we discussed future Fed rate hikes, the state of U.S. de...Read More
McEwen Mining (MUX) was trading 3% lower on Thursday after the Toronto-based company announced suspension of a shareholder payout just a day before the record date.Chairman Rob McEwen, who owns 23% of the company worth $586 million in New York, said it decided on the freeze because of operating issues at the Black Fox mine in Ontario and with the startup of its Nevada project Gold Bar:"While viewe...Read More
Vancouver-based GoldMining has updated the resource estimate for its Yellowknife gold project in the greenstone belt of the same name.The latest resource estimate contains 1.1 million oz. of gold in 14.1 million measured and indicated tonnes grading 2.33 g/t gold. The inferred portion contains 739,000 oz. in 9.3 million tonnes grading 2.47 g/t gold. The new numbers are an 18% increase in the mea...Read More
Wednesday's trading session was bearish, as stocks retraced their Tuesday's advance. However, the market remained at its recent local lows. So is this a topping pattern or just a pause before another leg up?The U.S. stock market indexes lost 0.5-0.9% on Wednesday, retracing their Tuesday's advance, as investors took some short-term profits off the table. The S&P 500 index retraced more of its...Read More
As the old saying goes, politics is a show business for ugly people. Fair enough, but what does it have to do with gold? Let’s jump right in and find out! There Is No Trade War Economic reports are rarely fun. But when we read the latest US trade report, we could not help but laugh. It turns out that the US goods and services deficit was $59.8 billion in December, up $9.5 billion, or almost...Read More
Base metals price on the London Metal Exchange were mostly lower at the close of trading on Thursday March 7, with price movements limited by a surge in the US dollar index above the psychologically significant level of 97, while both lead and tin futures retained support.The three-month lead price closed once more above its nearby resistance level of $2,100 per tonne, and continued to exhibit an...Read More
The Australasian Institute of Mining and Metallurgy (AusIMM) and the Government of the State of Victoria in southern Australia announced this week a partnership focused on those who aspire to work in the mining sector.In a media statement, AusIMM said that the initiative is particularly focused on helping women make an increased contribution to the industry with an emphasis on getting more women a...Read More
Published 22 Hours AgoUpdated5 Hours AgoReuters Getty ImagesGold slipped on Thursday, holding near a multi-week low as the dollar gained against the euro after the European Central Bank postponed an interest rate rise, but the ECB's gloomy economic outlook limited the metal's fall.Spot gold was off 0.05 percent to $1,285.71 per ounce at 2:30 p.m. ET. It hit $1,280.70 on Tuesday, its lowest level...Read More
The Comex copper price continued to drift on Thursday March 7 with uncertainty around US-China trade talks forcing market participants to retreat and delay any serious price action. The copper price for May settlement on the Comex division of the New York Mercantile Exchange declined 1.15 cents to $2.9070 per lb. Additionally, European buying was lackluster ahead of the European Central Bank's pol...Read More
A drop to $13.86 in November was ugly.A rise to $16.20 looked like a breakout was on the horizon.Failure in early March.Buying dips and selling rallies rather than looking for technical breaks.USLV and DSLV for those who do not trade futures.Silver can be a tricky metal when it comes to its price action. Silver looks like it is going to the moon on the way up, and when it declines, it seems like t...Read More
As COMEX Gold moves toward $1500 in the months ahead, the gold to silver ratio will likely see insane new all-time highs of 85 or even 90. Craig explains...by Craig Hemke via Sprott Money NewsSurely, by now, you know the drill. The price of COMEX Digital Silver rallies. Price breaks key technical level. Banks then increase the float of available contracts. Price stalls. Price crashes. Wash. Rinse....Read More