By: Dave KranzlerGold was smacked $22 from top to bottom overnight and this morning. It was a classic paper derivative raid on the gold price, which was implemented after the large physical gold buyers in the eastern hemisphere had closed shop for the day. This is what it looks like visually:As you can see, as each key physical gold trading/delivery market closes, the price of gold is taken...Read More

By: IRA EPSTEINGold at a very critical area, overbought and momentum pointing lower -- $1287-1289 area support...Read More

Weaker-than-expected demand from steel mills following the introduction of new rebar standards in China and increased use of ferro-niobium there have hit the ferro-vanadium market with prices in Europe now trading at levels last seen in December 2017. So far this month, the European ferro-vanadium price has fallen by more than 25%. Fastmarkets assessed the price for ferro-vanadium, 78% min, free d...Read More

Base metals prices on the London Metal Exchange were broadly range-bound at the close of trading on Thursday March 28, with continued strength in the dollar deterring commodity investment while weaker-than-expected gross domestic product (GDP) figures from the United States continued to indicate economic contraction.Nickel's three-month price was the biggest downward mover of the day, closing once...Read More

Prices in the US copper market continued to push upward on Thursday March 28, with macroeconomic data outweighing recent growth in market participants' bearish speculative positioning.The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched up by 1.15 cents to $2.8745 per lb on Thursday.On the technical side, the net speculative length has declined marke...Read More

Seaborne coking coal prices were stable on Thursday March 28, with market participants awaiting the outcome of a miner's tender for direction.A cargo of second-tier hard coking coal was heard offered at $186 per tonne cfr China. The was no word of the cargo being sold by 6pm, the data collection cut-off time for the Fastmarkets MB daily coking coal indices.In the premium hard coking coal segment,...Read More

A strengthening U.S. dollar is again creating headwinds for gold.Gold's fear component is strong enough to override this, however.An overlooked momentum consideration also supports gold this spring.Gold is once again finding itself in a tug-of-war among safety-conscious investors who favor the strong U.S. currency over the yellow metal. While many investors are flocking to the perceived safety...Read More

Gold and silver have failed to shine despite falling bond yields in recent days, and today both metals slumped hard. The metals’ poor performance may be due to several reasons, rather than just one factor. For a start, the US dollar has managed to hold its own rather well despite the Fed’s U-turn on interest rates. The dollar bears – and by extension gold bugs –&n...Read More

Technology innovation has become a lot more of a central topic, I feel, for the gold sector in recent times.I would say the single most advanced technology, the one that we can see becoming more broadly adopted in this sector within the shorter to immediate term would be automation.Ultimately, the idea is to have a fully-integrated mine, a smart or intelligent mine if you might. Technology and Inn...Read More

Wednesday's trading session was slightly bearish, as stocks retraced some of their Tuesday's advance. The S&P 500 index was the highest since the early October a week ago. But then the market sold off. So was that sell-off a medium-term downward reversal or still just a correction?The U.S. stock market indexes lost 0.1-0.6% on Wednesday, as investors continued to hesitate following last week's...Read More

USDCHF On H4, USD/JPY is expected to test 3/8, after which a pullback and a fall to the support at 0/8 may occur. Risk Warning: the result of previous trading operations do not guarantee the same results in the future On H1, the price is above the consolidation range, and is likely to hit 7/8. Risk Warning: the result of previous trading operations do not guarantee the same results in the future...Read More

The U.S. yield curve extended its inversion. Everyone and their brother knows that recession must definitely be on the horizon. We are all doomed, so gold can only go up now, right? Yield Curve Inversion Gets Larger It’s getting more serious. On Friday, the yield curve inverted. This week, the spread between long-term and short-term rates has not only remained below zero, but it has dived fu...Read More

Turkish rebar and wire rod export prices remained largely unchanged over the past week on a lack of demand, sources said on Thursday March 28.Fastmarkets' weekly price assessment for rebar exports from Turkey was unchanged at $490-500 per tonne fob on an actual-weight basis.Turkish steel producers continued to offer rebar for export at $500-510 per tonne fob on an actual-weight basis, but buy...Read More

A steady rally since mid-August 2018.The Fed gives gold the green light.A stable dollar is supportive of gains.Two levels to watch on the upside.Franco-Nevada Corporation and the royalty model.Gold has been shining in 2019, and there are signs that the precious metal will continue its lustrous price activity over the coming weeks and months. Both fundamental and technical factors are supportive of...Read More

   •  The precious metal extended this week's retracement slide from near one-month tops and remained under some selling pressure for the third consecutive session on Thursday.    •  The downward trajectory dragged the commodity below 200-hour SMA and towards confirming a near-term bearish break below a three-week-old ascending trend-channel formation. &...Read More

Turkish domestic prices for rebar and wire rod have remained fairly stable over the past week, with demand showing few signs of recovery, sources said on Thursday March 28.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,200-3,250 ($593-602) per tonne ex-works, narrowing downward slightly compared with the TRY3,200-3,263 per tonne of last week.The domestic rebar...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday March 28 that are worth another look.Weaker-than-expected demand from steel mills following the introduction of new rebar standards in China and increased use of ferro-niobium there have hit the ferro-vanadium market with prices in Europe now trading at levels last seen in December 2017. So far this month, the European fer...Read More

Copper and brass scrap prices in the United States have largely held steady over the past week, with sustained domestic and offshore competition helping to mitigate price erosion.Copper scrap discounts were mostly flat week on week, aside from that for refiners No1 copper, which widened by a penny to 14-16 cents per lb, according to Fastmarkets AMM's latest assessment on Wednesday March 27. All ot...Read More

The collapse of a tailings dam at an iron ore mine in the south-east Brazilian state of Minas Gerais will not change miner Vale's plans for its base metals division, the company's chief financial officer, Luciano Siani, said on Thursday March 28.During a conference call with analysts, Siani said that the Salobo and Sossego copper mines will continue to operate normally, while the expansion of Salo...Read More

The Euro has been on a roller coaster ride over the past several years. The direction has been mostly lower but the Euro is trying to firm up here. And the bulls desperately need to see some upside traction!In today's chart, we highlight two look alike patterns: the Euro in the 1990's and the Euro in the 2000's.As you can see, in the 1990's the Euro formed a pennant pattern, breaking down through...Read More