At present, there could be a number of positive developments for precious metals.Last Friday, the US Dollar cracked lower and could be at risk of lower levels into year end.Days earlier the Federal Reserve announced new “QE-like” measures just as they told us it was not really QE. In addition, the market is showing a nearly 68% chance of a rate cut later this month. Isn&rsqu...Read More
US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More
JPMorgan's earnings were particularly strongDow Jones Industrial Average (DJI) futures are trading above fair value this morning, pointing to a strong start to earnings season. It's been a good morning for blue chips on that front, with Johnson & Johnson (JNJ), JPMorgan Chase (JPM), and UnitedHealth (UNH) all set to rise after their quarterly reports. While trade buzz is still lingering in the bac...Read More
The percentage of Nasdaq stocks above their 200-day is approaching its June lowsWhile technical warning signs for the stock market have taken something of a backseat to the daily parade of geopolitical headlines, concerns about market breadth have been bubbling under the surface for some time now. The percentage of S&P 500 Index (SPX) stocks trading above their 50-day moving averages has rebounded...Read More
Export prices for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States fell again despite expectations that prices had bottomed, sources told Fastmarkets on Tuesday October 15.Fastmarkets' price assessment for steel HRC export, fob Black Sea, CIS was $380-395 per tonne on October 15, down from $400-410 per tonne a week earlier."Scrap prices stopped falling and buye...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 15.Please click...Read More
Nickel rallied on the London Metal Exchange on Tuesday, with the market seeing the continued decline in exchange stocks as price-supportive, although it failed to close above resistance at $17,000.The three-month nickel price rose 2.6% to close at $16,995 per tonne on Tuesday October 15 from the previous day's closing price of $16,550 per tonne. Still, it t closed below the psychologically signifi...Read More
"Travel," Mahatma Gandhi once said, "is the language of peace."If that's the case and I happen to believe that it is then I'm extremely bullish about the future, especially with respect to U.S.-China relations. The trade war's days may be numbered as both sides of the skirmish reached a partial agreement last Friday, laying the groundwork for Presidents Donald Trump and Xi Jinping to sign a tr...Read More
Clint Siegner, Money MetalsJerome Powell has something in common with Bagdad Bob, Saddam Hussein's infamous press secretary. They're both liars, suggests Money Metals podcast guest Craig Hemke of the TF Metals Report.Telling obvious lies with a straight face is part of Powell's job description. He hopes to maintain order even though anyone who is paying attention knows something extraordinary i...Read More
At present, there could be a number of positive developments for precious metals.Last Friday, the US Dollar cracked lower and could be at risk of lower levels into year end.Days earlier the Federal Reserve announced new "QE-like" measures just as they told us it was not really QE. In addition, the market is showing a nearly 68% chance of a rate cut later this month. Isn't all this bullish for...Read More
Stewart Thomson 1. For silver, all roads probably lead to the $22-$25 area. For gold, all roads likely lead to $1600-$1800. There could be significant bumps in these roads, probably involving time more than price.2. Please click here now. Double-click to enlarge this silver chart.3. Silver looks stronger than gold, but gold is also looking very solid, from b...Read More
By: Ira EpsteinGold swing lines: lower highs and lower lows. Bollinger support $1478, near swingline..Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday October 15 that are worth another look.China's sustained presence as a buyer in Southeast Asia's spot billet market has been boosting prices in the region, sources told Fastmarkets.An oversupply of manganese ore weighed on seaborne manganese ore prices cif China, causing some producers to make multiple lower offers to attra...Read More
The world's largest low-grade iron ore producer has confirmed that it will bid for two blocks at what is considered the world's largest untapped high-grade ore resource, a move that reiterates what the industry has been saying over the past few years - that demand for green iron ore or high-grade ore is a structural change in the making."Following the release of information at a public meeting hel...Read More
Edward Meir has joined international financial brokerage firm ED&F Man Capital Markets as a senior commodity independent consultant.Until recently, Meir - who runs Commodity Research Group, a consultancy specializing in metals and energy research - was at INTL FCStone in New York.He joined INTL in 2011 after nine years primarily in Man Group's base metals and energy team.Prior to...Read More
China's sustained presence as a buyer in Southeast Asia's spot billet market has been boosting prices in the region, sources told Fastmarkets. At least two cargoes involving close to 80,000 tonnes of Indian billet and 55,000 tonnes of Russian billet were booked at $395-400 per tonne cfr China after the country's October 1-7 Golden Week to commemorate its 70th National Day."The major buyers are re-...Read More
Gold as an asset class has a weak correlation to the stock market and is worth diversifying into.Gold outperformed the S&P 500 index across the past 2 crisis in 2002 and 2009 and could be a good hedge in a frothy market.Overall gold investments generated lower returns in the past 20 years but is important to include for portfolio risk management.The market has been volatile with wild swings re...Read More
Silver is looking stronger than gold from a fundamental and a technical perspective...by Stewart Thomson of Graceland UpdatesGraceland Updates 4am-7amhttps://www.gracelandupdates.comhttps://gracelandjuniors.comhttps://gudividends.comhttps://guswinger.comhttps://gublockchain.comEmail:[email protected][email protected][email protected][email protected][email protected]Oct 15, 2019For silver, al...Read More
RAPAPORT... The Diamond Empowerment Fund (DEF) has grantedits largest-ever award, to be shared among nine beneficiaries across three continents.The $470,000 training and education grant,released early last week, is designed to support girls' education,entrepreneurship and youth empowerment across India, Africa and Canada. Projects include funding for a new science,technology, engineering and mathe...Read More
RAPAPORT... Alrosa's sales fell 24% year on year to $258.7 million inSeptember, amid continued market weakness. However, the total was the highest in four months, and reflecteda noticeable recovery in the small-stone sector, the Russian miner said last week. "It is partly due to the traditional autumn market revivalafter the holiday period, and a slight increase in demand from Indian cutters...Read More