StrengthsThe best performing precious metal for the week was silver, up 3.78 percent on stronger industrial demand. After a slow start to the week, gold and silver were moderately higher in midday U.S. trading Thursday as haven demand returned due to China's security law imposition on Hong Kong. The move by China ratcheted up tensions with the U.S. Gold rose Friday morning as investors awaited P...Read More
Export slab prices from the the Commonwealth of Independent States (CIS) picked up again in the week ended Monday June 1 on a revival in demand from China, Fastmarkets has learnt.Increases in the cost of iron ore and an upswing in China's domestic hot-rolled coil market supported demand for import slab.A cargo of Ukrainian slab was reported sold to China at $385 per tonne cfr, equivalent to around...Read More
Clint Siegner, Money MetalsProtests egged on by the legacy media quickly devolved into large-scale riots and looting over the weekend in more than a dozen U.S. cities.Some important institutions have betrayed the public trust, and Americans facing quarantine and staggering unemployment have arrived at the boiling point.Meanwhile, the ranks of people buying gold and silver as a hedge against econ...Read More
Index futures have done a tentative alley-oop Sunday night, feinting lower before moving as though to challenge Friday's nutty highs. They occurred, apparently, because Trump was not as hard on China as he could have been when he addressed the nation ahead of the closing bell. Anyone mystified by the stock market's exuberance hasn't been paying attention to the steep rally that has occurred with...Read More
*This interview was recorded on 5/28/20Grant's Interest Rate Observer Founder and Editor James Grant and CNBC's Rick Santelli discuss the consequences of unprecedented policy.James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: T...Read More
By: Ira EpsteinGold monthly is favorable, momentum and bias is up. For the week, gold had a higher weekly close. It was a strange week..Read More
Fireside ChatRapid FireFireworks ShowSome Final ThoughtsScars from the Great DepressionThe history of humanity, at least as taught in most schools, is really about two seemingly opposite forces: human innovation and human conflict. The same intelligence that lets us accomplish great things also sets us against each other. But sometimes, we rise above it.Last week I saw on Twitter (where you shou...Read More
During this 120+ minute interview, Jason and George discuss the moral hazard the Fed has created and how any type of deflation, especially in asset prices, seems to no longer be allowed.George has some very interesting insights he shares about the global macro situation, inflation, the Fed and gold.To wrap up the interview, Jason asks George what lessons he has learned from interviewing so many su...Read More
Jordan discusses Silver, fundamentals, key levels, potential targets and upside potential.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service f...Read More
In a Wedensday manuscript detailing how high-risk COVID-19 patients should be treated, Risch notes that the combination of hydroxychloroquine (HCQ) and the antibioticContinue...Read More
Silver futures posted a gain of nearly 24% for the month of May, the largest since 2011.Continue...Read More
China's domestic rebar prices moved up on Monday June 1 following early gains in the futures market that emerged in response to positive data on downstream demand.Domestic Eastern China (Shanghai): 3,570-3,600 yuan ($500-504) per tonne, up by 40 yuan per tonneChina's steel purchasing managers' index for May was 50.9 points, which is 5 points higher than that for April, the China Federation of Logi...Read More
The European Commission (EC) plans to replace general annual quotas for hot-rolled coil with quarterly country-specific quotas and introduce some other strict measures to existing safeguard restrictions against imported steel, Fastmarkets understands.The EC sent a notice listing the changes to the World Trade Organization on May 29. The EC initiated a second review of the existing safeguard measur...Read More
Group Ten Metals' states its findings suggest a gold-rich mineralization may occur there along with platinum, palladium, nickel, copper and cobalt. Stillwater West PGE-Ni-Cu Project - 2019 DrillingGroup Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) announced in a news release that additional exploration work returned high-grade gold (Au), platinum (Pt) and palladium (Pd) mineralization at Pi...Read More
Sector expert Michael Ballanger bemoans the panic-inducing influence of politicians and the influx of "counterfeit currency" from central banks on the money and commodities markets. One look at the chart of the U.S. financial markets against the backdrop of economic paralysis and suffering, and one is immediately filled with a myriad of emotions. Sympathy for those that have been afflicted by the...Read More
Prices in the European high-carbon and low-carbon ferro-markets increased in in the week ended Friday May 29.In high-carbon trading, industry sources reported deals agreed for more than 1,000 tonnes of alloy that raised the upper end of the price assessment. And deals for about 350 tonnes of more refined-grade material were reported, which had the same effect on the price range in that market.In a...Read More
Protests and relations with China do little to dash investor's hopes regarding U.S. economyDespite an uprising in social turmoil in the U.S., stocks marked the first day of June with gains. The Dow closed up 91 points, while the S&P 500 and Nasdaq marked closes modestly in the black. Despite relations with China on the brink of collapse, investors in the U.S. are still optimistic as the economy co...Read More
ET is cutting around 6% of its workforceThe shares of Energy Transfer LP (NYSE:ET) are up 1.2% at $8.26, after announcing that it's cutting around 6% of its workforce next week to combat the impact of coronavirus. With the energy sector hit particularly hard by the pandemic, especially in regard to oil and gas, Energy Transfer executives said in early May that it would cut operational and capital...Read More
Calls are more popular overall, but options traders have been unusually put-heavy of lateOver the last 10 trading days, the 20 stocks below have attracted the highest weekly options volume, thanks to data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Stocks highlighted in yellow are new to the list. Standing out this week is Twitter Inc (NYSE:TWTR), a company that recently made...Read More