The three-month aluminium price on the London Metal Exchange was higher at the close of trading on Monday October 7, topping a broadly lackluster base metals complex amid low turnover, while zinc's benchmark cash/three-month spread narrowed over the afternoon.Aluminium futures closed at $1,746 per tonne in the afternoon, climbing from an intraday low of $1,714 per tonne, while some 10,100 lots wer...Read More

Asa technical trader, one has to really learn to appreciate when a trade“reloads” for another move higher.  Much like the Gold base/bottom inApril 2019 below $1300 that we called back in October 2018.  When a trendconfirms and we can see the potential for upside profits, but price performs a“deep pullback” withing that initial trend setup – it is almost like...Read More

The CIS export billet market became firmer early in the week following a stabilization of prices in the scrap market as well as fresh billet bookings agreed at higher prices, Fastmarkets heard on Monday October 7.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $352 per tonne on October 7, up by $1 per tonne from Friday.A 50,000-tonnes cargo of Ukraine-origin billet was repor...Read More

The European ferro-silicon market was unchanged despite a lower fourth-quarter deal being done in the week ended Friday October 4 because suppliers are waiting for further quarterly deals for delivery up to January before making any decision on their offer prices for prompt shipment. European suppliers hold offer prices European demand slower than usual, more Q4 business expected US mar...Read More

XENT has now shed 45% in 2019Near the bottom of the Nasdaq this morning sits Intersect ENT Inc (NASDAQ:XENT), down 11.3% to trade at $15.06. This comes after the medical device maker's drug-coated balloon treatment for sinus dilation failed its main goals in a study. This is pacing to be XENT's worst single-session drop since an earnings-induced bear gap on Aug. 2. The shares bounced from their...Read More

There are a number of analyst notes worth monitoring this morningU.S. stock futures are pointing to a modestly lower open for equities today. There's little on the trading schedule as far as earnings and economic updates go, leaving traders to focus on the U.S.-China trade talks scheduled for later in the week. Over the weekend, a Bloomberg report indicated Beijing may not agree to a broad trade d...Read More

A VIX close above 20 could enhance the odds of a volatility spike"A VIX breakout above 18.00 coincident with the SPX closing below 2,950 could set up a retest of the August lows in the 2,850 area. A worst-case scenario for bulls would be the SPX again retesting its year-over-year breakeven level, which has been the theme of many pullbacks during 2019. The October 2018 closing low was at 2,641, whi...Read More

By now, everyone and their brother has heard aboutthe yield curve inversion. How come it has inverted and how much should we readinto it? Is it really such a reliable indicator of an upcoming recession? Let’sdig into the true causes behind the inversion and find out what its meaning forthe gold market. Is the yield curve inverted? Well, it depends. Although the spreadbetween the U.S. 10-year...Read More

Here are five Fastmarkets MB stories you might have missed on Monday October 7 that are worth another look.Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to sluggish trading activity amid a week-long holiday in China to mark the country's 70th anniversary.Chinese cobalt producer GEM Co Ltd has signed a cobalt supply contract with Switzerland-based m...Read More

The gold miners’ stocksare correcting.  They’ve been sliding anddrifting lower on balance since their powerful recent upleg peaked a month ago.  Corrections are normal and healthy in ongoingbull markets, rebalancing sentiment to pave the way for the next upleg.  They also offer the best buy-low opportunitiesseen inside secular uptrends.  Deployingcapital in gold sto...Read More

"It came with a speed and ferocity that left men dazed. The bottom, simply fell out of the market... The streets were crammed with a mixed crowd agonized little speculators, sold-out traders... inquisitive individuals and tourists seeking ... a closer view of the national catastrophe...Where was it going to end?" account of stock market crash in the New York Times, October 1929 "In this age...Read More

Dave KranzlerOn October 4th, as I expected would happen, the Fed announced that it was extending its overnight and term repo operations out to November 26th (the November 12th two-week term repo matures on the 26th).The Fed added 7 more 2-week "term repos, " plus a 6-day "term repo," with the next three operations upped to $45 billion. It extended the overnight repos until at least November...Read More

StrengthsThe best performing metal this week was gold, up 0.51 percent. Gold traders and investors are positive on future gold prices in this weeks' Bloomberg survey. For the first time in a month the gold bulls outnumbered the combined bearish and neutral responses. ETFs added 39,919 troy ounces of gold to their holdings on Thursday, marking the 14th straight day of inflows, according to Bloomb...Read More

COLORADO SPRINGS, CO, Oct. 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced its Isabella Pearl gold mine, located in Mineral County, Nevada, has reached commercial production levels. This commercial production announcement is based on mining rates, ore placement on the heap leach pad, mining and process costs, p...Read More

By: Andy HechtStarting and June and through the beginning of September, gold and silver prices were back in bullish mode. Gold rose to its highest price since 2013 and silver to its peak since 2016. The nearby gold futures contract traded up to a high at just under $1560 per ounce. Silver peaked at just under $19.54. Markets rarely move in a straight line, and corrections can be healthy for bul...Read More

There are times when our research teaminterprets our advanced predictive modeling systems so well that we call a movein the markets 3 to 10+ months in advance of the move actually happening.  It has happened for our team of research sooften lately that we are somewhat used to the accolades we receive from ourfollowers and members.  Our October 2018Gold price predictions are still playing...Read More

Avi Gilburt, Elliott Wave TraderAs the media highlights the potential impeachment process in the coming weeks, many are so concerned that this will be the "cause" of the market drop we are expecting. Yet, history suggests otherwise.The narrative will certainly play out as follows: The market likes certainty and stability within our government. (Please ignore that this was the same reason many cl...Read More

Dear Friend of GATA and Gold:Our friend C.W. wrote this week:"After reading recent commentaries noting that the U.S. Justice Department and Commodity Futures Trading Commission are overlooking the long-term suppression of the gold price while indicting individual traders for spoofing the gold and silver futures markets, I wondered why the authors did not acknowledge a simple likely explanation."...Read More

The Dow Industrials ended the week with an 800-point Whoopee Cushion bounce that recouped two-thirds of a 1300-point loss suffered days earlier. The swoon, exhilarating as it may have seemed to traders, will do little to brighten an economic picture that has gone from boom to gloom since mid-summer. One might think that the dark cloud of recession over China and Europe would have caused investor...Read More

By: Ira EpsteinGold's short-term trend is lower, finding support at the 18-week moving average..Read More