Here are five Fastmarkets stories you might have missed on Wednesday November 17 that are worth another look.Regional cooperation, public planning and funding capacity for new technologies will be key for the Latin American steel industry to deliver reduced greenhouse gas (GHG) emissions in the long term, top executives and experts...Read More
One would expect an inverse relationship between the US Dollar and Silver. The below chart shows periods when the dollar has been falling (USD Index) in RED and rising in blue, during which time there does tend to be a tendency for Silver price to exhibit an inverse relationship to varying degree. Without this turning into trend forecast for the US Dollar, the most recent price action shows a doub...Read More
Regional cooperation, public planning and funding capacity for new technologies will be key for the Latin American steel industry to deliver reduced greenhouse gas (GHG) emissions in the long term, top executives and experts said in an event on Wednesday November 17.Steel companies have accepted the need to change their production models, but several challenges are in the way of reducing the indus...Read More
So if Silver is closer to being an industrial commodity then a precious metal then one should look at supply and industrial demand for Silver for signs and portents of what the price may do. It looks like the large surplus of 2020 is depressing the Silver price during 2021. Whilst 2021 is also forecast to end the year with a surplus of supply. So I am not seeing anything in the fundamentals that c...Read More
Holding gold has largely been about a hedge for inflation, weak US dollar or a store of safety during times of trouble. At present, it is the inflationary pressures that is the main driving force for the yellow metal.Inflationary pressures are building around the world as the global economy tries to reopen.Consumer prices are sharply rising with the US Inflation rate posting a three-decade high o...Read More
Finished steel inventories at member mills of the China Iron & Steel Association (Cisa) rose by 661,900 tonnes (5.15%) in the first 10 days of November compared with the preceding 11 days, according to data published by the association on Monday November 15. November 1-10 outputCrude steel: 1.80 million tonnes per day, up 3.70%Finished steel: 1.75 million tpd, down 3.05%...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 17 that are worth another look.Regional cooperation, public planning and funding capacity for new technologies will be key for the Latin American steel industry to deliver reduced greenhouse gas (GHG) emissions in the long term, top executives and experts...Read More
An update of the gold stock bounceAs a TA, I respect charts first and foremost. On occasion that respect has burned me as I’ve missed big profit opportunity or not seen a disaster unfolding that the charts missed. But much more often it helps me profit or saves me from disastrous ends. TA is just one tool in the box. An important one, but it should not stand alone. With the gold stocks espec...Read More
Regional cooperation, public planning and funding capacity for new technologies will be key for the Latin American steel industry to deliver reduced greenhouse gas (GHG) emissions in the long term, top executives and experts said in an event on Wednesday November 17.Steel companies have accepted the need to change their production models, but several challenges are in the way of reducing the indus...Read More
Gold continued to rally on Tuesday, as investors and metal traders priced in expectations that central banks will keep interest rates low until late 2022 at the earliest.At time of writing spot gold and gold futures were both changing hands at about USD$1,833/oz. The precious metal brushed up against a two-month high Friday of $1,795/oz, following a surprise decision by the Bank of England to keep...Read More
Clearly at times of market panic investors rush to Gold and then eventually once the dust settles soon realise in comparison Silver is cheap and thus plays catchup, usually swinging from cheap to expensive against Gold. So allowing for a delayed reaction there does exist a strong correlation between the Gold price and Silver. In terms of trend both Gold and Silver appear to be correcting their 202...Read More
My last in-depth Silver analysis: 29th Jan 2020 - Silver Price Trend Forecast 2020Initially I am expecting a very volatile trading range between a low of $16.50 to a high of $19 for the next 3 months or so, following which the Silver price 'should' respond to aGold price rally and follow the yellow metal higher. The trends not going to be pretty but I expect Silver to trade above $20, and likely r...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook in...Read More
Inflation rears its ugly head, surging at the fastest pace since 1990. The yellow metal has finally reacted as befits an inflation hedge: went up.Do you know what ambivalence is? It is a state of having two opposing feelings at the same time –this is exactly how I feel now. Why? Well, the latest BLS report on inflation shows that consumer inflation surged in October, which is something I hat...Read More
Since the start of the COVID-19 virus event, Gold has rallied more than +26% to reach highs near $2090 on August 7, 2020. Yet, over the past 15 months, Gold has been trailing downward in a sideways price pattern. This price rotation has set up a very broad Pennant/Flag formation in Gold that has recently reached the APEX of the Flag setup.This is very important for two reasons. First, as the globa...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Thanksgiving is a time to appreciate the food on our tables, but that probably isn’t stopping a lot of people from grumbling about how expensive the turkey and all the fixings have become.According to Statistics Canada, food prices are up 2.5% over the past year, but that may be underestimating the impact of inflation. New research from Dalhousie University’s Agri-Food Analytics Lab, q...Read More
With the S&P 500 back at itsall-time highs, gold stopped lagging behind. However, how long can thisunsustainable growth last?TheFOMO Rally While the S&P500 has demonstrated a resounding ability to shake off bad news, anepic divergence has developed between positioning and economic expectations.And while ‘fear of missing out’ (FOMO) keeps sentiment near the high-end of itsrange,...Read More
Evergrande is on the brink of bankruptcy. Will gold prices collapse together with the real estate developer or benefit from its default?Generals are always prepared to fight the last war, while economists are always prepared to fight the last recession. But what if the next economic crisis doesn’t start in the US financial sector, but in China’s real estate?Naturally, I refer to Evergr...Read More
The gold miners’ latestquarterly earnings season will soon get underway, with their full Q3’21 resultsdue out by mid-November. These fundamentalreports are invaluable to traders, revealing how companies are actually faringoperationally and financially. Despite Fed-tighteningfears hammering gold and gold stocks last quarter, the miners are likely to collectivelyreport outsta...Read More