Meanwhile, Socialist Elizabeth Warren Surges Past BidenBy Mike Gleason, Money Metals Exchange It's been a big week of geopolitical strife and potential crisis points for financial markets. The week began with one of the biggest single day oil spikes on record, then saw the Federal Reserve lose control of its own interest rate in the repo market before announcing another rate cut. Yet these an...Read More
Stewart Thomson, Graceland Updates 1. Please click here now. The Fed just cut interest rates again. It also cut the rate it pays banks on their excess reserves. 2. What does this mean for gold? Well, the 30basis point cut on excess reserves is bigger than the 25basis point cut on the fed funds rate. That could incentivize banks to loan money to the private sector rather...Read More
By: Ira EpsteinGold in a correction but on a weekly basis remains in an up-thrust, but I am concerned gold is challenging short-term lows..Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil were stable over the week ended Friday September 20, even though market participants were expecting falls, sources have told Fastmarkets.Prices for hot-rolled coil, the base product for coated coil, have been coming down recently, and coated coil prices were expected to follow soon.Domestic pricesDemand in the country's loca...Read More
Eric Sprott discusses the price manipulation charges in precious metals and his personal method for trading the mining shares. He also answers listener questions regarding some specific mining companies.Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest indep...Read More
"Lowe's has augmented its in-store security cameras with software that tracks individuals' movements throughout the store using a unique scan of face geometry. Put simply, Defendants surreptitiously Continue...Read More
Harry Dent is seeing early warning signs of a liquidity crisis...just like in 2008. Watch now to find out what the Fed is actually liable to do regarding rate cuts at Trump's insistence. Harry also reminds us why this year's conference could be the most important Irrational Economic Summit yet! Harry Dent is a Fortune 100 consultant, new venture investor, noted speaker, bestselling author, and the...Read More
GoldSeek Radio's Chris Waltzek talks to Michael Pento, President and Founder of Pento Portfolio Strategies.Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and...Read More
Society is pretending its actions don't have consequences. It's badly mistaken. History teaches us that there is no free lunch, reminds Dr. Ben Hunt, publisher of EpsilonTheory.com. And science informs us that even the most simple systems become nearly impossible to predict or control with 100% precision as time and variables change.But our society today is ignoring these lessons. It's betting tha...Read More
"While the unemployment rate is low by historical standards, there is little evidence that low unemployment poses a significant inflation risk in the current environment."Continue...Read More
The NY Fed said it would purchase up to $75 billion of debt between 8:15 a.m. and 8:30 a.m. Securities eligible to be sold to the Fed include Treasuries, government-sponsored Continue...Read More
Our good friend Nick Santiago is still very bullish on the yellow metal and the shiny metal too. He sees a period of consolidation followed by more gains, likely before year's end. He's also seeing an end to Fed easing, no more rate cuts, for better or worse. Interest rates have bottomed and should see some increases ahead. Oil is right around where it should be and will probably stay close to its...Read More
A 7.5% year-on-year fall in apparent steel consumption in Brazil in August was largely due to declining domestic sales, particularly in the long-steel sector. Consumption totaled 1.81 million tonnes in August, down from 1.95 million tonnes in the same month of 2018, national steel association Instituto A??o Brasil said on Thursday September 19. Demand for flat-rolled products of 1.06 million tonne...Read More
Domestic rebar prices in Poland have decreased over the past week due to declines in monthly ferrous scrap contracts, sources told Fastmarkets on Friday September 20.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 2,070-2,090 zloty ($527-532) per tonne on September 20, down by 10-40 zloty per tonne from 2,080-2,130 zloty per tonne one week earlier....Read More
China's domestic rebar prices continued maintained their downward trend on Friday September 20 amid high selling interest. Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($511-515) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,560-3,600 yuan per tonne, down 20 yuan per tonneStockists were actively selling rebar to draw down their inventories on expectations of higher production...Read More
Export prices for pig iron from Brazil have gone down on the influence of weak global scrap pricing and fading demand, sources told Fastmarkets during the week ended Friday September 20.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $285-300 per tonne on Friday, down from $305-310 per tonne last week.Suppliers were heard to cut their prices, but were not re...Read More
Global scrap prices continued to fall in all major markets during the week ended Friday September 20, under pressure from persistent negative sentiment and with market participants seeing no prospect of relief. Turkey import prices fall further; suppliers accept lower prices US export prices down for cargoes sold off both coasts Asian import prices decline on oversupply Indian import prices down i...Read More
The import market for pig iron in the United States fell in the week ended Friday September 20, with buyers still not ready to resume purchases and expecting lower prices because of the weak scrap sector and planned maintenance outages in December.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $320-325 per tonne on September 20, down from $330-340 per tonne the wee...Read More
Brazilian slab export prices remained unchanged in the week ended Friday September 20, with no deals agreed while buyers and sellers battled to establish a new price.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $420-435 per tonne on September 20, unchanged week-on-week.The price corresponded to the most recent deals closed, to the West Coast of the United...Read More
CIS producers of steel billet have kept their offer prices stable despite mounting downward pressure from the poor international scrap trading environment and limited demand, market sources told Fastmarkets on Friday September 20.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $357 per tonne on September 20, compared with $356 per tonne a day earlier.Steelmakers have been of...Read More