China's steel mills posted a fall in profits in the first eight months of the year on weakening steel prices and costly raw materials. Profit in the country's steelmaking industry totaled 179.94 billion yuan ($25.17 billion) in January-August 2019, down by 32.3% year on year and deepening the drop in the month prior of 26.4% on an annual basis, according to the National Bureau of Statistics. Most...Read More
China's domestic rebar prices dropped on Friday October 11 due to pessimistic sentiment among buyers and inactivity in the market. Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($521-525) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,570-3,600 yuan per tonne, down 20-30 yuan per tonne Weak futures have led customers to cut their procurement rates in anticipation of lower...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 334,38358,82053,301167,755478,697555,439590,818 Change from Prior Reporting Period 11,5835,013-5,1984,70511,95911,09011,774 Traders 21469785451292175 Small Speculators LongShortOpen Interest 61,51826,139616,957 98229812,072 non reportable...Read More
Gold investment demand was strong in the months following gold's decisive breakout to new bull-market highs in late June. The metal's upside momentum fueled big capital inflows, accelerating its gains. But soon after gold's upleg stalled, so did the investment buying. With stock markets still near record highs, the normal portfolio-diversification motive for owning gold is lacking. Thu...Read More
By: Ira EpsteinGold has been stuck for a week and a half trading around the 18-DMA..Read More
Do not believe in Trump on the trade deal. Let there be a trade deal and the details made public. Then only gold will fall. Till there is a confirmation of a trade deal, I will prefer to use a buy on sharp dips strategy for gold and silver. Intraday volatility will rise in gold and silver. Traders and investors are used to one way price moves. It seems they do not like wider range trading. I hav...Read More
Ferrous scrap prices strengthened in the latest US sales to Turkey during the week to Friday October 11, but market participants were unsure about a recovery as demand for finished steel was still limited in most markets. Increasing political tensions in Turkey keep mills away from scrap markets US export prices improve in the East Coast market with sales to Turkey Ferrous scrap prices...Read More
RICO was designed to go after organized crime syndicates. It was first used against the mobsters in the 1930's during prohibition when all the bootleggers were running around killing people in the streets. Oh, and more importantly they weren't paying taxes on all the booze they were selling and you know how the government hates to cheated on their theft, I mean taxes. First of all that's why they...Read More
For Part 1 of this interview, CLICK HEREFor Part 2 of this interview, CLICK HEREIn this final part of the series, Mike and Chris discuss the ramifications of the growing political divide in the USA. What are the solutions? What can we do? Stay tuned until the end for Mike's trademark answer to these most important questions.Christopher Martenson is a former American biochemical scientist. Currentl...Read More
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 independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
Desperation continues at the Fed. They're expanding their balance sheet (again), but denying that it's QE, despite the fact that they've added almost $200 billion to their balance sheet in just a matter of days. Fed Chair Powell is also out-and-about pretending that everything is just fine. Central planners always box themselves into a corner. Neither lies, nor more counterfeiting can fix the trou...Read More
"Taken together with other deployments I have extended or authorized within the last month, this involves about 3,000 United States forces," the Pentagon chief said.Continue...Read More
In Canada, they are now fining people whose cell phone is visible in their car. You don't have to be using it at all. If it is simply visible it is deemed to be a distraction. Continue...Read More
Today's relief rally is brought to you by chastened US and Chinese trade negotiators who are now working on a "mini" trade deal that will apparently include a reduction in USContinue...Read More
Today's guest, Marco Janssen, shares his thoughts on the demise of the European Union. During our discussion we talk about negative rates, quantitative easing and the threat of a cashless society in the near future. Marco highlights why the EU experiment is revealing to the world that Central Bank policy is disastrous for humanity. To find out more about Marco Janssen visit the link here: http://w...Read More
The answer is very bad. The structure of the Eurozone is an absolute disaster. It is promoted as a single country, but it lacks everything that stands behind a Continue...Read More
The Federal Reserve's recent need to supply $100's of billions in new credit for the overnight repo market underscores the condition of dollar scarcity in the global financial system. Continue...Read More
The first portion of the trade deal will be written over the next three weeks, Trump said Friday afternoon. Continue...Read More
The Federal Reserve will be continuing its overnight funding operations through at least January 2020, the central bank announced Friday.Continue...Read More
Austenitic steel scrap prices in Europe and UK may have found the market floor after a month of substantial decreases, while chrome steel scrap prices have fallen sharply on weak demand and low ferrous costs, Fastmarkets heard on Friday October 11."I think [austenitic] prices have found a new level after the significant drops we have had in the past month," one scrap trader said. "Material has sta...Read More