By: Ira EpsteinGold's latest technicals, resistance areas where bulls need to take out to get more interest going:Read More
Gold and silver are unchanged after majority of lawmakers in the U.S. House of Representatives voted to impeach Trump. In my view, gold and silver will remain firm due to Trump and his impeachment related news. Only some yearend profit taking in gold can result in a sell off. Exceptional year end US economic data release can also result in a selloff in gold. One needs to be ready to trade and ma...Read More
Federal Reserve ChairmanJerome Powell’s comments on inflation last Wednesday added fuel to the contra-dollartrade.During a press conferencefollowing the Fed’s decision to leave interest rates unchanged, Powell said,“In order to move rates up, I would want to see inflation that's persistent andthat's significant. A significant move up in inflation that's alsopersistent..."To...Read More
Steel demand in North Africa is projected to grow by around 3% in the coming year to 23.5 million tonnes, delegates were told at Fastmarkets' Middle East Iron & Steel Conference in Dubai on December 9-11.Ramy Saleh, the chief business development officer at Egypt's El Marakby Steel cited gross domestic product and population growth as the main drivers of steel demand in the region, which, accordin...Read More
Tonight I would like to update some commodities charts we haven’t looked at in a while. There have been some subtle changes taking place that need to be addressed. Just like the PM complex that topped out in 2011 many commodities also topped out that same year and have been correcting ever since. With the US dollar at an important inflection point it may be time for commodities in general to...Read More
Earlier this year, various gold stock indices (XAU, HUI, GDX) gained more than fifty percent in just three months. Most of the negativity associated with the sector was brushed aside and replaced by positive expectations for the future.Of course, the 90-day rush to this year’s highs did not occur in a vacuum. The price of gold rose by twenty percent over the same three-month period. Th...Read More
Technical analyst Clive Maund charts the longer term picture for silver.Like gold, silver has been in a corrective downtrend following its peak early in September, and it looks like it has further to run before its done, partly of course because we have a downside target for gold in the $1360–$1400 area before it turns up. On the 6-month month we can see how it has been stumbling lower withi...Read More
Brazilian apparent steel consumption dropped by 2.1% year on year in November, as an increase in long-steel demand was not enough to offset a quick decline reported for flat-rolled products, national steelmakers' association Instituto A??o Brasil said on Thursday December 19.Steel consumption totaled 1.72 million tonnes during November, down from 1.76 million tonnes a year before.Flat-steel use wa...Read More
The gold miners’ stockshave largely been consolidating high following last summer’s powerful upleg. That resilience has left sentiment relativelybullish, with traders mostly expecting this sector to soon start surging again. But the jury is still out on whethergold stocks will be lucky enough to evade a bigger correction. Major downside risks still abound, primarilyin...Read More
Steel demand in North Africa is projected to grow by around 3% in the coming year to 23.5 million tonnes, delegates were told at Fastmarkets' Middle East Iron & Steel Conference in Dubai on December 9-11.Ramy Saleh, the chief business development officer at Egypt's El Marakby Steel cited gross domestic product and population growth as the main drivers of steel demand in the region, which, accordin...Read More
The Fed kept the interest rates unchanged in December. The statement was rather hawkish, while the dot-plot rather dovish. What does such a mix imply for the yellow metal? Fed Keeps Interest Rates UnchangedYesterday, the FOMC published the monetary policy statement from its latest meeting that took place on December 10-11th. In line with expectations, the U.S. central bank left the federal funds r...Read More
Gary TanashianThe Continuum (the systematic downtrend in long-term Treasury yields) has for decades given the Fed the green light on inflation. Sometimes it runs hot (as per the red arrows) and sometimes it runs cold. One year ago people were confused about why a declining stock market was not influencing Fed chief Powell to reverse his relatively hawkish tone.The orange arrow shows exactly why,...Read More
By: Ira EpsteinGold's latest technicals, resistance areas where bulls need to take out to get more interest going:Read More
Gold and silver are unchanged after majority of lawmakers in the U.S. House of Representatives voted to impeach Trump. In my view, gold and silver will remain firm due to Trump and his impeachment related news. Only some yearend profit taking in gold can result in a sell off. Exceptional year end US economic data release can also result in a selloff in gold. One needs to be ready to trade and ma...Read More
Verylittle happened in the precious metals market both yesterday and in today’spre-market trading – at least so far. We will take this opportunity to discusssomething that we haven’t done in a while – silverstocks.To be clear, we’re not going to discuss the silver mining stock selection, asthat’s something our proprietaryalgorithms do on a daily basis. And yes,...Read More
The European steel industry has welcomed the European Commission's recently launched European Green Deal although further policy and support are required to ensure competitiveness.The European Union plans to be the first climate-neutral continent by 2050 through key policies to cut emissions and invest in research and innovation for green technologies. The decarbonization and modernization of ener...Read More
Gold-linked exchange-traded products are growing in popularitywith investors. Assets held by gold ETFs have grown 38% globally in 2019. In October, according to the World Gold Council, gold ETFsattracted $1.9 billion in net inflows to reach a new record high total goldholding of 2,900 tonnes – at least on paper.There is good reason to be skeptical of whether all these “gold”vehic...Read More
Gold,silver, and mining stocks reversed practically exactly at their double trianglereversal point and the short positions that we opened along with takingprofits off the table from the previous longpositions, became profitable almost instantly. There’s quite a decline to catchhere, and it seems that only a small part thereof had already taken place. PMsReversingTheabove chart clearly shows...Read More
Brazilian apparent steel consumption dropped by 2.1% year on year in November, as an increase in long-steel demand was not enough to offset a quick decline reported for flat-rolled products, national steelmakers' association Instituto A??o Brasil said on Thursday December 19.Steel consumption totaled 1.72 million tonnes during November, down from 1.76 million tonnes a year before.Flat-steel use wa...Read More
WOOD, one of the Ishares ETF symbols related to the Real Estate and Construction sectors may become the next hottest instrument for skilled technical traders. Over the past three years, Wood has rallied over 110% between a $40 to $84 range and the trading volume of WOOD has been relatively consistent near an average of about 140k shares per week. Let’s dig into the opportunities...Read More