Will the large swings we've seen over the past couple of months continue?A couple of weeks ago, I wrote about years that had a large percentage of positive days and a similar year-to-date return as 2019. The results were interesting, but numbers don't always capture the path taken to get to those numbers. For example, a year where the S&P 500 Index (SPX) steadily rose to a 20% gain by mid-July mig...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 17.Please click...Read More
Nickel's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Wednesday July 17, appreciating by 3% to surpass $14,400 per tonne and trade at its highest level in a year.The metal's futures price traded at an intraday low of $13,900 per tonne during Asian trading hours, before climbing to an intraday high of $14,460 per tonne during the European trading d...Read More
Physical iron ore prices fell backward on Wednesday July 17 amid losses in the futures market, after the Dalian Commodity Exchange (DCE) increased the cost of trading.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.27 per tonne, down by $0.88 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.19 per tonne, down by $0.88 per tonne.Fastmarkets' in...Read More
Domestic prices for hot-rolled coil (HRC) have decreased over the past week in the south of Europe due to slow trading, market sources told Fastmarkets on Wednesday July 17.Prices in the north of the EU have been largely stable, however, although the market was reported to be slow.Despite weak market activity, steelmakers were reported to be considering price rises for September-rolling coil produ...Read More
- Stefan GleasonPresident Trump moved recently to nominate an avowed sound money advocate, Judy Shelton, to the Federal Reserve Board. That triggered a flurry of superficial and derisive references in the controlled media to Shelton's past support of a gold standard.For example, CBS News described her as "a believer in the return to the gold standard, a money policy abandoned by the U.S. in...Read More
By: Ira EpsteinGold bias is up, daily chart shows a congestion period trying to figure out what to do next, just at the 18-DMA support. Volatility has come out of the market:Read More
By: Gary SavageLots of currency intervention going on. Be careful with gold short-term:http://blog.smartmoneytrackerpremium.comRead More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 17 that are worth another look.China's top copper concentrate buyers are in a fix. On Thursday July 18, the historically powerful China Smelter Purchase Team will gather for a quarterly meeting that traditionally is an arena for members to share information on trade flows and maintenance schedules, and to set a quarterly...Read More
By Avi GilburtFor those that have been following our work closely, you would know that we called for the bottoming in the crypto complex back at the end of 2018, and saw strong potential for the bull market to resume. Our subscribers benefited quite nicely from our timely and accurate call at the time.In our last public article on Seeking Alpha, we stated our belief that the rally off the Decemb...Read More
Facebook gets deservedly bad press, and yet the stock is rapidly approaching record highs. The latest headline suggests the company's planned foray into cryptocurrencies will be stillborn. Trump's administration has cited national security concerns, but the real story is that no one trusts Zuckerberg any longer. Every time he gets caught violating users' privacy in some appalling new way, he off...Read More
A multi-year low in the cobalt metal price in China triggered the speculative buying witnessed over the week to July 12, which is likely to be followed by restocking activity in the spot market, Fastmarkets learned.Fastmarkets' assessment of the price for cobalt 99.8% Co min, ex-works China was at 210,000-230,000 yuan ($12.27-13.43 per lb, minus China VAT) per tonne on Friday July 12, down nearly...Read More
Global alumina prices have plummeted over the past two months in June and July due to poor demand and a surplus of excess cargoes in the market.Alumina prices in Western Australia, Brazil and China are all down over 15% since May and close to their lowest level in over two years. This is a stark contrast to this time last year, when alumina prices were trading close to record highs following strik...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 17.Please click...Read More
Gold miners are outperforming the S&P 500 this year.Lots of upside for gold miners from here.WMA fundamental ranking of the gold miners.Gold miners have been popping up on our radar screen thanks to positive EPS revisions of late. For example, in our EPS Revisions Changes Monitor for Monday, July 8, we had a few more miners see their consensus profit outlooks revised higher for the current yea...Read More
Nickel's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Wednesday July 17, appreciating by 3% to surpass $14,400 per tonne and trade at its highest level in a year.The metal's futures price traded at an intraday low of $13,900 per tonne during Asian trading hours, before climbing to an intraday high of $14,460 per tonne during the European trading d...Read More
Physical iron ore prices fell backward on Wednesday July 17 amid losses in the futures market, after the Dalian Commodity Exchange (DCE) increased the cost of trading.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.27 per tonne, down by $0.88 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.19 per tonne, down by $0.88 per tonne.Fastmarkets' in...Read More
It would take an extraordinary set of deflationary circumstances for the Federal Reserve to lower rates 75 basis points this year as the market is pricing in.Market's expectations for a significant easing cycle by the Fed are unlikely to be met. Front-end treasury yields are likely to move higher, flattening the yield curve.Gold acts as an inflation hedge and struggles to compete with rising y...Read More
Investing.com - Gold prices fell on Wednesday in Asia on hints that the U.S. and Iran may be willing to hold talks.Retail sales gained 0.4% in June, outpacing consensus forecasts for a 0.1% advance. The data sparked buying interest in the U.S. dollar and pushed Treasury yields higher, which in turn put pressure on the yellow metal.Gold futures for August delivery on the Comex division of the New Y...Read More
The Australian Dollar and its ETF (NYSEARCA: FXA) have traded sideways for much of the past 4 years (see blue shaded area on chart above).And since the Aussie Dollar and precious metals are highly correlated, this hasn't helped gold and silver.But this setup may be changing soon as a big test comes into play for the AU$.It is currently testing falling resistance on a bullish falling wedge pattern....Read More