Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin). In his prior life, he worked in Texas and Oklahoma, including a decade as General Manager and COO of a large Ford dealership and its subsidiaries. Read More
In a key policy shift, the ECB has recentlyintroduced tiered system of interest rates. This news isn’t of interest only tothe banks keeping their reserves at the ECB. In today’s article, you’ll learnabout the new instrument of monetary policy, and find out what it implies forthe gold market. If you think that monetary policy in the UnitedStates is crazy, you are right. But in Eur...Read More
YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMThe gold price was under quiet but extremely erratic selling pressure in Far East trading on the their Friday -- and the low tick of the day, such as it was, came around 9:15 a.m. in London. It crept quietly and unevenly higher until the 11 a.m. London close -- and at that juncture 'da boyz' in New York would not allow it to go any higher -- and...Read More
Dear Friend of GATA and Gold:Our friend Dave Kranzler of Investment Research Dynamics in Denver today elaborates on his commentary yesterday --http://www.gata.org/node/19589-- about the New York Commodities Exchange's invention of another mechanism for creating "paper gold." Kranzler writes today that the mechanism seems aimed at easing the pressure of the short position likely making serious tr...Read More
By: RambusOnce a year I try to post this very long term monthly chart for the $COMPQ which I call, "HISTORY CHART OF THE END OF THE WORLD." I built out this chart many years ago and update it when there is anything of interest to show. The last entry was the BREXIT vote in February of 2016. You my recall the markets were uneasy about the vote, but has been the case in the past it usually marks...Read More
By: Ira EpsteinGold ended the week higher but downside bias. Daily gold chart is neutral. $1,430's should see strong support if there is a larger sell-off. $1,487 area is initial resistance area..Read More
Steel billet prices in most markets around the world continued on an upward trend in the week ended Friday November 15 amid a recovery in scrap prices in the Turkish import market as well as increasing demand for billet in China.Market participants consider Turkey's scrap import prices to be a major indicator of scrap price trends because the country is the world's largest importer of the steelmak...Read More
Impeachment circus lows and stock market highsdominated the news cycle this week, and precious metals are quietly attemptinga recovery. Bulls still have some work to do to repair thetechnical damage inflicted on both metals during last week’s selling. Gold and silver still face some overhead resistance and the potential for concentrated shortselling by financial institutions in the futures m...Read More
This, the final section of this multi-part research article, will continue our exploration of the consequences that may result from our ADL predictive modeling system’s suggestion that Oil may continue to fall to levels below $40 over the next few months. In Part I and Part II, we’ve highlighted what we believe to be very compelling evidence that any continue oil price decline fr...Read More
The gold price bottomed in late 2015 around $1,050 per ounce. It has since advanced to a high of $1,555 in early September, followed by a pullback to the current price of $1,470. Gold is in a well-defined uptrend channel with higher lows and recently higher highs. The breakout above $1,360 this summer was significant and we have seen follow-through buying. The $420 move in the price of gold from t...Read More
Here are five Fastmarkets MB stories you might on Friday November 15 that are worth another look.Brazilian miner Vale has diversified its iron ore sales to yuan-denominated futures contract pricing, which is the first time for global miners to use such pricing.Suppliers are offering wider discounts in early negotiations for long-term ferro-vanadium contracts for 2020 compared with this year, accor...Read More
YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMThe gold price was under quiet but extremely erratic selling pressure in Far East trading on the their Friday -- and the low tick of the day, such as it was, came around 9:15 a.m. in London. It crept quietly and unevenly higher until the 11 a.m. London close -- and at that juncture 'da boyz' in New York would not allow it to go any higher -- and...Read More
Dear Friend of GATA and Gold:Our friend Dave Kranzler of Investment Research Dynamics in Denver today elaborates on his commentary yesterday --http://www.gata.org/node/19589-- about the New York Commodities Exchange's invention of another mechanism for creating "paper gold." Kranzler writes today that the mechanism seems aimed at easing the pressure of the short position likely making serious tr...Read More
By: RambusOnce a year I try to post this very long term monthly chart for the $COMPQ which I call, "HISTORY CHART OF THE END OF THE WORLD." I built out this chart many years ago and update it when there is anything of interest to show. The last entry was the BREXIT vote in February of 2016. You my recall the markets were uneasy about the vote, but has been the case in the past it usually marks...Read More
By: Ira EpsteinGold ended the week higher but downside bias. Daily gold chart is neutral. $1,430's should see strong support if there is a larger sell-off. $1,487 area is initial resistance area..Read More
Here are five Fastmarkets MB stories you might on Friday November 15 that are worth another look.Brazilian miner Vale has diversified its iron ore sales to yuan-denominated futures contract pricing, which is the first time for global miners to use such pricing.Suppliers are offering wider discounts in early negotiations for long-term ferro-vanadium contracts for 2020 compared with this year, accor...Read More
RAPAPORT... Rio Tinto wants to buy a 60% stake in the Star-Orion South diamond exploration site in Canada for CAD 70.5million ($53.3 million), according to project owner Star Diamond Corp. In 2017, Rio Tinto entered into a joint-venture deal under which it had the right to acquire shares in the proposed mine. Its decision to opt in fully to the project comes five years earlier than the origin...Read More
RAPAPORT... US retail sales showed "particularly impressive" growth inOctober as shoppers prepared for the upcoming holiday season, according to the National Retail Federation (NRF). Total purchases for October - excluding automobiles,gasoline and restaurants - rose 0.2% compared to the previous month, accordingto data the NRF published Friday. Monthly salesclimbed 4.2% year on year for the period...Read More
RAPAPORT... A pair of blue diamond earrings will lead a sale of finejewels at Bonhams that includes pieces from the estate of former New YorkYankees owner George Steinbrenner's wife. The set features a marquise-shaped brilliant cut,fancy-intense-blue diamond with VS1-clarity, weighing 1.81 carats, and anoval-shaped modified brilliant-cut, fancy-blue diamond, weighing 1.62 carats. Thosestones are t...Read More
RAPAPORT... Petra Diamonds sold a 20.08-carat blue diamond from itsCullinan mine in South Africa for just under $15 million, it said Friday. "We are very pleased with this result, which is in line withour expectations and confirms the resilience in the value of very high-qualityblue diamonds," said Petra CEO Richard Duffy. "We look forward to followingthis exceptional stone's journey to its polish...Read More