Traders are digesting the CPI reading for MayFutures on the Dow Jones Industrial Average (DJI) are trading below fair value today after the index snapped its win streak on Tuesday. Investors this morning are monitoring the tame consumer price index (CPI) for May, which again pointed to soft underlying inflation -- likely increasing chatter about a potential interest rate cut from the Fed. With li...Read More
The Fed is not expected to raise rates at next week's meetingA Fed meeting is scheduled to wrap up next Wednesday, June 19. The Fed is expected to keep rates steady this time, but there's always a chance at some volatility based on the wording in the committee's statement. At its next meeting at the end of July, the Fed is expected to lower rates for the first time since raising them from near zer...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 12.Please click...Read More
Dave KranzlerIn April credit card debt was once again the largest contributor to the new all-time high in consumer debt, increasing by $7 billion vs. a decline of $2 billion in March. Student loan and auto debt hit all-time highs of $1.6 trillion and $1.16 trillion, respectively. I found the credit card debt numbers interesting because a report released by Experian showed that 23% of Americans n...Read More
Stefan GleasonThe 2020 presidential election is already shaping up to be one of the most bitterly contested in history. The outcome could have enormous ramifications for all asset markets, including precious metals.In the meantime, a lot can happen before November 2020 - especially with the Federal Reserve apparently set to turn dovish and cut interest rates this summer.Some historical research...Read More
By: Stewart Thomson, Graceland Updates 1. A lot of Americans getting a myriad of government entitlements thought that President Trump would recreate the 1950s for them. 2. If Trump had eliminated the PIT (personal income tax), capital gains tax, and corporate income tax, I've estimated that around $100 trillion in capital would have surged into America.3. That w...Read More
Although there are a dozen good reasons why the bull market should flame out, like, tomorrow, there's nothing in the long-term charts to suggest this is likely. A friend and fellow permabear sent me an Elliott Wave theorist's prediction that the sensational run-up begun more than ten years ago could continue for another three or four years. This is based on a five-wave Elliott pattern that is cu...Read More
I am getting bullish on euro and pound. I also expect more losses for the US dollar index and gains for Asian currencies against the US dollar. A currency war can be unleashed by Trump anytime. Trump believes that nations will use currency depreciation to offset higher tariffs. The Federal Reserve will take direct and indirect measures to ensure the competitiveness of the US dollar. This implies...Read More
The lead market in the United States is set to tighten due to the impact of Nyrstar declaring force majeure on lead supply contracts from its Port Pirie smelter in Australia, although US lead premiums are steady for now.In Shanghai, zinc premiums continued to fall due to low demand. European zinc premiums remained moribund despite mass cancellation of special high grade zinc ingots from local LME...Read More
Zinc's three-month price on the London Metal Exchange stayed above $2,500 per tonne at the close of trading on Wednesday June 12, with the moderate volumes traded indicating continued buying interest despite the cash/three-month spread being in a sizeable backwardation.The galvanizing metal showed a little more than 8,000 lots exchanged by the close, with total volumes valued at around $100 millio...Read More
South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The review, which could result in the divestment of the assets, reflects a wider predicament affecting alloy producers struggling with historically high ore prices and a subdued market for their own product. So...Read More
Since late May, GLD has staged a significant rally (up each of the last 8 trading sessions) and suddenly is sitting near highs from earlier in the year.There are many signals, though, that are indicating the expansion could abruptly turn into a contraction in the very near future.There is likely anticipatory buying occurring right now in the metal, which accounts for some (but definitely not all)...Read More
The London Metal Exchange has decided on a dispute over when the load-in, load-out (LILO) rule should have been activated, ruling in favor of warehouse company Istim. People familiar with the situation said that the warehousing firm had been found to have acted vigorously and without delay in its dealings with Glencore at its warehouses in Port Klang, Malaysia, following large cancellations of alu...Read More
Being on the forefront of breakthroughs in technology hasalways been a surefire way for investors to realize huge gains. Some massivefortunes were made during the dotcom boom, for example. Even after that initial euphoria came and went, investing incompanies that were set to take full advantage of new market opportunitiescreated by the internet such as Amazon, PayPal, or Ebay remained a recipe for...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
All markets, especially gold are driven by the emotion of fear.Fear leaves repetitive patterns in the pricing history.The recent rally in gold has yet to change the patterns that imply lower gold prices in the future.All markets are driven by the emotion of fear - fear of losing and fear of missing out (greed) - and it is hard to think of a more emotional investment than gold. It has been the 'go-...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 12.Please click...Read More
Zinc's three-month price on the London Metal Exchange stayed above $2,500 per tonne at the close of trading on Wednesday June 12, with the moderate volumes traded indicating continued buying interest despite the cash/three-month spread being in a sizeable backwardation.The galvanizing metal showed a little more than 8,000 lots exchanged by the close, with total volumes valued at around $100 millio...Read More
Global tin premiums were flat across the board in the week ending Tuesday June 11, with market volatility and continued fresh inflows absorbing broadly weak demand ahead of the seasonally subdued summer months, while nearby spread tightness deters spot business. European market participants question possible tin concentrate shortage US merchants report oversupplied market Weak demand caps Asian ti...Read More
The Gold Silver Ratio is now reaching levels near 90, or as high as nearly 26 years ago.Lost on many market observers is the +6 year divergence from silver values versus the US stock market.by SDBullion BlogThe new 2019 'In Gold We Trust Report' just went live and downloadable.A now 13-year running annual report on gold and financial markets has become a must-read for anyone deep in the physical...Read More