Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 389,33953,47490,728176,619552,240656,686696,442 Change from Prior Reporting Period -19,010-1,22624,1221,100-8,8916,21214,005 Traders 24163775857332172 Small Speculators LongShortOpen Interest 76,23136,475732,917 11,3883,59517,600 non reportable positionsC...Read More
By: Gary Savage I have to laugh at two things:Perma-bears are calling for the end of the bull market. But it is not the end, not yet!Other people are trying to take credit for the crash.The Fed prevented the market from correcting in December and now look..https://blog.smartmoneytrackerpremium.com/ Read More
By: Ira EpsteinCovid19 is causing panic, but do not panic! Gold, you would think, would be up more, but it is not. $1626.6 is key to short-term to watch as a support zone, but if it goes below then what?Read More
Rick Ackerman, Rick's PicksThe stock market at its most violent this week has been an easy read, just as it was when the tech sector imploded 20 years ago and during the financial collapse of 2007-08. On the eve of today's memorable carnage the short-term charts practically glowed with warnings of the Dow's imminent, record-breaking plunge. I'd predicted as much in commentary sent out the ni...Read More
The American Institute for International Steel (AIIS) has again asked the United States Supreme Court to hear its case challenging the constitutionality of Section 232.AIIS' move comes after the US Court of Appeals for the Federal Circuit said that President Donald Trump acted within the authority granted to him by the Constitution in imposing tariffs and quotas against foreign steel and aluminium...Read More
Trading in Turkey's domestic steel market has stopped following an airstrike in Idlib in northwestern Syria, that resulted in the deaths of at least 33 Turkish soldiers, market sources told Fastmarkets on Friday February 28. Following the attack, which Turkish officials blamed on the forces of Bashar al-Assad's regime, Turkey's president, Recep Tayyip Erdodan, said Syria's al-Assad regime was now...Read More
The American Institute for International Steel (AIIS) has again asked the United States Supreme Court to hear its case challenging the constitutionality of Section 232.AIIS' move comes after the US Court of Appeals for the Federal Circuit said that President Donald Trump acted within the authority granted to him by the Constitution in imposing tariffs and quotas against foreign steel and aluminium...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 389,33953,47490,728176,619552,240656,686696,442 Change from Prior Reporting Period -19,010-1,22624,1221,100-8,8916,21214,005 Traders 24163775857332172 Small Speculators LongShortOpen Interest 76,23136,475732,917 11,3883,59517,600 non reportable positionsC...Read More
Before their recent surge on gold regaining $1600, the gold stocks spent much of the past half-year or so largely drifting sideways to lower. That high consolidation really weighed on sentiment, with greed giving way to apathy. This sector normally tends to suffer a seasonal slump into mid-March, paving the way for gold stocks' spring rally. That's their second-strongest seasonal surge of...Read More
By: Gary Savage I have to laugh at two things:Perma-bears are calling for the end of the bull market. But it is not the end, not yet!Other people are trying to take credit for the crash.The Fed prevented the market from correcting in December and now look..https://blog.smartmoneytrackerpremium.com/ Read More
David HaggithThat didn't take long. Just a month ago, I wrote, "Stock Market More Overpriced and Perilous Than Anytime in History," stating that the market was poised for a big fall because "some of the market's most fundamental valuation metrics are now printing at levels never seen before.... This market is tripping on some pricy hallucinogens."[Note: I've added an end-of-day update to this ar...Read More
By: Ira EpsteinCovid19 is causing panic, but do not panic! Gold, you would think, would be up more, but it is not. $1626.6 is key to short-term to watch as a support zone, but if it goes below then what?Read More
Rick Ackerman, Rick's PicksThe stock market at its most violent this week has been an easy read, just as it was when the tech sector imploded 20 years ago and during the financial collapse of 2007-08. On the eve of today's memorable carnage the short-term charts practically glowed with warnings of the Dow's imminent, record-breaking plunge. I'd predicted as much in commentary sent out the ni...Read More
Flat steel import prices showed no clear trend in South America in the week ended Friday February 28, with Chinese exporters trying to push for increases following a steep decline through the earlier parts of the month.Buyers in Brazil had been especially quiet because of the strengthening United States dollar and the annual break for carnival festivities in the South American country."Clients hav...Read More
The pig iron market in the United States during the week ended Friday February 28 went up on new bookings and amid expectations of higher scrap prices in March, sources have told Fastmarkets.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $347-350 per tonne on Friday, up from $335-340 per tonne the week before.Late last week, two cargoes with a...Read More
The London Metal Exchange three-month lead price slipped below $1,800 per tonne temporarily on Friday February 28, on a day that saw just over 6,000 lots traded.The LME lead price fell to $1,778.50 per tonne during morning trading hours in London, but recovered to close at $1,848 per tonne.The forward spreads in lead remained tight, with the benchmark cash-to-three-month spread...Read More
The novel coronavirus (2019-nCoV) is set to accelerate what the trade wars started: the diversification of global supply chains. Both events have demonstrated just how interconnected the global economy is and have provided a wake-up call to businesses worldwide that it might be time to reduce their reliance on China as the workshop of the world. Of course, that's easier said than done. China is th...Read More
A surge in Chinese high-carbon ferro-chrome production last year led to a jump in buying interest for chrome ore, resulting in a significant build-up of ore inventories in the country that is dampening market sentiment. At the same time, the increased output among Chinese ferro-chrome smelters is exceeding demand from the downstream stainless steel sector and is putting pressure on China's market...Read More
The global novel coronavirus (2019-nCoV) outbreak is putting bearish pressure on negotiations for the second-quarter MJP aluminium premium, according to market participants who told Fastmarkets they expect the premium to fall year on year. The second-quarter premium in 2019 settled at $105 per tonne, but new offers heard today had been at $90 per tonne. Earlier offers in the week were at $105...Read More
The carnage and chaos continues...(Silver Doctors Editors) The carnage in the stock market continues.Check out those plunges in the Dow:We gapped-down again today.Silver is showing a 16-handle:Enjoy that while it lasts.Let's take a trip back to the last time the stock market crashed:Silver began to fall after the stock market was falling, and bottomed before the stock market did.The question is,...Read More