Turkish domestic scrap prices have increased over the past week amid limited supply, especially in the Marmara region, sources said on Monday April 27.At least two steel mills in the Marmara region have increased their buy prices for auto bundle scrap by 70-80 lira ($10-12) per tonne over the past week to be able to secure more material.Long and flat steel mill ??olakoglu increased its buy price f...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12April 27, 2020 The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future...Read More
COLORADO SPRINGS, CO, April 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of one-third of a cent per common share for April 2020 payable on May 26, 2020 to shareholders of record as of May 11, 2020. Gold Resource Corporation is a gold and silver producer, developer and explorer with oper...Read More
Physical gold continued to catch a bid last week, trading above $1,760 an ounce, on a host of head-spinning economic news, from millions more Americans filing jobless claims to record money-printing to negative oil prices. The national average price for a gallon of gasoline fell further to $1.78 on Friday, down more than $1 a gallon from a year ago. But the lowest price in the country may belong...Read More
Strengths? The best performing metal this week was gold, up 2.78 percent. ETFs added 36,334 troy ounces of gold to their holdings on Thursday, bringing this year's net purchases to 12.2 million ounces, according to Bloomberg data. That marks the 24th straight day of increases for ETFs backed by the yellow metal. Newmont, the world's largest gold company, increased its quarterly d...Read More
No one anticipated negative crude oil even in the wildest of the dreams. A whooping negative -$40.32 was historic. The coming generations will have a chapter in their MBA course as to why crude oil prices reached -$40.32. The trading lesson is simple, when price move as per fundamentals, never trade against it. Silver has not risen as it is an industrial metal. Investment demand for silver lags...Read More
Turkish steelmakers have cut their capacity utilization rates to prevent the spread of Covid-19 among employees amid reduced demand for steel due to pandemic lockdown measures in the domestic and export markets.Several Turkish long steelmakers stopped production in March and April, and some of them have not yet resumed production.Maintenance breaks have reduced flat steel output in Turkey recently...Read More
Successful trading in recent weeks spurred some CIS steel slab producers to increase their offer prices for foreign customers in late April.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $325-340 per tonne on Monday April 27, widening upward by $10 per tonne.Ukraine-origin slab was available in Italy and Turkey within the range of $360-365 per tonne cfr, which...Read More
"A lie can travel halfway around the world before the truth is putting on its shoes." The list of sensational headlines based on shoddy research just continues to grow. Whether by commission, omission or plain old ignorance, our media is failing us - it's not probing as critically and deeply as it should to ensure the information it brings us is valid. Among several examples in today's video, Chri...Read More
Part 1 (part 2 below)Part 2Jeffrey Gundlach is the Chief Executive Officer and Chief Investment Officer of DoubleLine Capital. He is recognized as an expert in bond and fixed income investments. His investment strategies have been featured in leading publications from around the world In 2013, he was named "Money Manager of the Year" by Institutional Investor. He is a graduate of Dartmouth College...Read More
Economist and publisher Gerald Celente joins Rick Sanchez to forecast what's ahead for the troubled global economy at the brink of what he predicts will be "the greatest depression." He argues that full-blown international war may be on the horizon as a last-ditch effort to rescue national economies from total collapse. He also points out that politicians have "no exit strategy" when it comes to t...Read More
Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieute...Read More
Import prices for steel slab in Southeast Asia and East Asia remained flat over the past week due to a lack of trading activity amid the Covid-19 pandemic and the Islamic holy month of Ramadan. Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia, was $350-360 per tonne on Monday April 27, unchanged from a week earlier.Offers for CIS slab remained at $370-380 per...Read More
Why USO's 1:8 reverse split is a setup for massive retail inflows to Crude Oil ETPs this weekWhy oil producers will be taking the other side of futures bought by USO and other ETPsThe perfect storm: What happens when a historically unprecedented % of shorts stand for physical deliveryThere simply is no good solution: Even with a financial bailout, the logistic nightmare could cripple the industryJ...Read More
Today, Jason Hartman and George Gammon discuss topics such as, The Doom Vortex/feedback loop, oil prices, bonds, and what the world needs to prepare for the Coronavirus fallout. COVID-19 is playing a big role in economic changes and Jason and George break down some of the less obvious concepts of how this plays out. Today's episode dives deep into understanding the relationships existing in the gl...Read More
The data is irrefutable folks - what we've done is stupid, wrong, ineffective and murdered the economy. Yet nobody will go there. Dumb!Karl Denninger is an American technology businessman, finance blogger, and political activist, sometimes referred to as a founding member of the Tea Party movement. His website is The Market Ticker. Read More
It's Monday and time for another installment of Daily Market Wisdom with Nick Santiago.Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He successfully managed money for a large, affluent private client group. Nick is an expert in Technical Analysis. He is a highly regarded and accomplished technician in the studies of Elliot Wave,...Read More
It happened in London in 1665, the Black Death was taking a 20 percent die-off toll. In 1666 the great fire of London happened. Most homes were destroyed. In the 1550's there was a credit shortage along with a touch of plague. According to Bob, the diseases don't do the market in, the markets do themselves in. The economy was going to turn down with the stock market no matter what, and then Covid...Read More
Bill Gates vehemently defended China's initial response to the coronavirus outbreak on Sunday, telling CNN's Fareed Zakaria that the communist country - which silenced whistleblowers and lied aboutContinue...Read More