NVDA is headlining a busy morning for earnings moversU.S. stock futures are trading above fair value this morning, hinting at more record highs for the major indexes and another weekly win. The Dow Jones Industrial Average (DJI) is eyeing a moderately higher open, as traders consider a number of earnings releases this morning. Leading the way is an impressive report from semiconductor company Nvi...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 356,53548,56159,263181,629519,420597,427627,244 Change from Prior Reporting Period 626-7,542-1,9494,84310,9473,5201,456 Traders 23268745453311174 Small Speculators LongShortOpen Interest 60,59730,780658,024 -681,9963,452 non reportable positionsChange fro...Read More
By: Ira EpsteinDaily gold chart now back in control of the gold market after a new higher-high. Resistance around $1,592 Bollinger upper band.Read More
2010s have certainly been a roller coaster ride for gold. Will the 2020s then be better than the prior years for the yellow metal? Today’s article provides the macroeconomic outlook for the full decade – learn whether the fundamental factors will become in the 2020s less or more friendly toward gold.People often ask about my economic forecasts for the current year, whether the recessio...Read More
Our Adaptive Dynamic Learning predictive modeling system is suggesting Gold will rally above $1650 within the next 2 to 4 weeks, then settle into a narrow price range above $1600. If you’ve followed our analysis of Gold over the past few months and years, you already know we expect Gold to rally above $1750 this year and to continue to move higher attempting to breach the $2100 level.&...Read More
China's auto output fell by a third in January in comparison with a year earlier while sales declined by a quarter, according to estimates by the China Association of Automobile Manufacturers. The association, which expects these numbers to worsen in February, said on Thursday February 13 that it had not received data from all the companies it monitors because many of them have yet to return to wo...Read More
Coronavirus, Powell and GoldThe number of cases and deaths by the new coronavirushave escalated quickly. However, the fears subsided and the stock marketrebounded. How did gold perform, and what can we expect from the king of metalsnext?Should We StopWorrying about the Coronavirus?Well, that was a quick escalation. On February 2, whenwe wrote the first Fundamental Gold Report about the coronavirus...Read More
Brazilian car production fell by 3.9% on the year in January, according to figures released by Brazil's national auto association Anfavea late last week.The country produced 191,386 vehicles last month, compared with 199,145 units in the same period a year earlier.Last month's output is 12.2% higher than December's 170,501 units, however. ...Read More
China's auto output fell by a third in January in comparison with a year earlier while sales declined by a quarter, according to estimates by the China Association of Automobile Manufacturers. The association, which expects these numbers to worsen in February, said on Thursday February 13 that it had not received data from all the companies it monitors because many of them have yet to return to wo...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 356,53548,56159,263181,629519,420597,427627,244 Change from Prior Reporting Period 626-7,542-1,9494,84310,9473,5201,456 Traders 23268745453311174 Small Speculators LongShortOpen Interest 60,59730,780658,024 -681,9963,452 non reportable positionsChange fro...Read More
The gold miners' stocks are still stalled, mostly grinding sideways despite higher prevailing gold prices. This lack of progress is really frustrating traders, slowly shifting herd psychology towards apathy. That's the mission of high consolidations, gradually rebalancing sentiment by bleeding off greed. This healthy process has already come a long way, but still needs to fully play out...Read More
By: Ira EpsteinDaily gold chart now back in control of the gold market after a new higher-high. Resistance around $1,592 Bollinger upper band.Read More
Strong demand and bullish negotiations for second-quarter business pushed aluminium billet premiums in Europe higher on Friday February 14, while other global premiums were unchanged. Germany premium at highest since December 2019Weak demand in Thailand Premium remains at all-time low in USBuying interest thin in BrazilQ2 negotiations bullish in EuropeFastmarkets assessed the aluminium 6063 e...Read More
Import prices of flat steel products in South America fell this week amid lower offers from China and strong pressure from buyers.Fastmarkets assessed the price for steel hot-rolled coil, import, cfr main ports South America at $515-560 per tonne on Friday February 14, widening down from $530-560 per tonne a week earlier.Offers of HRC material from China were reported at the lower end of $515 per...Read More
Brazilian domestic flat steel prices increased this month, while producers have already started negotiating a second price increase for March.Fastmarkets' price assessment for steel hot-rolled coil domestic monthly, exw Brazil was 2,470-2,610 Reais ($575-607) per tonne on Friday February 14, up from 2,245-2,425 Reais per tonne on January 3.The assessment for steel cold-rolled coil domestic monthly...Read More
The US primary foundry alloy premium has hit an all-time low, with oversupply in the region the main reason for the downtrend.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot/T-bar premium dlvd dup over P1020A Midwest US at 6-9 cents per lb on Friday February 14, down a penny from the previous all-time low of 7-10 cents per lb set on December 13 and maintained in January's assessment...Read More
Demand for aluminium and steel coil in China has come under strain while the novel coronavirus (2019-nCoV) crisis has allowed the gears of the country's automotive sector to grind to a halt.Many manufacturing plants across China - including those in the automotive segment - have paused operations in the past two weeks to February 12 after the government extended workers' Lunar New Year holiday to...Read More
Copper and nickel prices ended the trading week higher on London Metal Exchange on Friday February 14 than a week ago although aluminium and zinc were depressed.The three-month nickel price reached a high of $13,345 per tonne before settling at $13,015 at the close of trading on Friday. It had closed at $12,770 per tonne on February 7.LME nickel stocks remain high at 212,094 tonnes after 2,10...Read More
Seaborne iron ore prices were rangebound on Friday February 14, while there were more transaction for low-grade iron ore fines at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.67 per tonne, up $0.11 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $88 per tonne, up $0.11 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $89.79 per tonne, up $0.05 per tonne. 58% Fe f...Read More
Seaborne coking coal prices moved up on Friday February 14, defying the pessimism in the market resulting from the outbreak of the novel coronavirus (2019-nCoV) in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.43 per tonne, up $3.14 per tonnePremium hard coking coal, cfr Jingtang: $161.28 per tonne, up $0.55 per tonneHard coking coal, fob DBCT: $127.01 per tonne, unchangedHard...Read More