What a crazy six months! Let’s look at the chart below. As you can see, over the first half of the year, gold gained more than 16 percent, rising from $1,515 at the end of December 2019 to $1,762 at the end of June 2020. The beginning of the year was, as usual, positive for the gold prices. However, gold did not rally in January as it did in just like in the previous years. Instead, it shot...Read More
Saudi Arabia’s Energy Minister Prince Abdulaziz claimed last week that the Kingdom will be the world’s biggest hydrocarbon producer “even” in 2050.“I can assure that Saudi Arabia will not only be the last producer, but Saudi Arabia will produce every molecule of hydrocarbon and it will put it to good use … It will be done in the most environmentally sound and s...Read More
As third quarter trading kicks off following a tumultuous first half of the year, investors are hoping for an auspicious July.Both stocks and precious metals posted impressive advances in the second quarter. The S&P 500 finished the April-June period with a gain of nearly 20%, its best quarterly performance since 1998. The Dow Jones Industrials, meanwhile, posted its best quarter since 1987.It...Read More
Gold just closed the month and quarter and itsperformance on the final day of both was very encouraging for the bulls. What’sgoing on and what changed?Let’s start with the big picture. Gold just moved to the November 2011 high and intoday’s pre-market trading it even moved above it. The volume on which goldmoved up last month was relatively small, which doesn’t support the...Read More
Some gold bulls have bought in heavily to the argument that gold price suppression has been an ongoing activity for years, even decades. Supposedly, trading in the gold market is manipulated in ways that depress the market price for gold.Assertions are made that the manipulation takes place in a shroud of secrecy; and the unexpected lower prices for gold, or prices that don’t meet wildly bul...Read More
Formulating a Trend ForecastIt is clear that Silver is NOT Gold, so NOT to make the mistake of looking at what Gold has done and thinking Silver will replicate that move, it rarely does! At best Silver tends to play catchup towards the end of precious metals bull trends.Silver is in a strong bull trend off the March low that is targeting resistance at $19 and then $20, beyond which lies $21. The b...Read More
Technical analyst Clive Maund charts his expectations for how silver prices will respond to movement in the stock market.Much of what is written in the parallel Gold Market update is equally applicable to silver and it will not be repeated here. Although silver has picked up significantly since its March low it has greatly underperformed gold over the past two years. But this is normal during the...Read More
Gold has broken out from a two-month-long consolidation (from $1680 to $1770), but the other precious metals markets have not confirmed Gold’s strength.The gold stocks (GDX, GDXJ) remain below their May highs while Silver remains below significant, multi-year resistance around $18.75. Silver closed Monday at $18.06.Furthermore, Gold, when priced against foreign currencies, has not broken out...Read More
Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism. According to European steel association Eurofer, imports of rebar from outside of EU in January-April 2020 totaled 370,514 tonnes, down by 37% from 589,428 during the corresponding period of 2019. At...Read More
It has not been an easy year so far for Peru's zinc and lead mining companies after the coronavirus pandemic swept through South America, with operations facing lengthy shutdowns as well as multi-year low prices for their products.Mining companies are turning to traders to obtain big blocks of cash amid live concerns over future earnings and with banks at their most cautious in a decadeKnown...Read More
Seaborne premium prices decreased on Friday July 17 due to bearish sentiment in the market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.50 per tonne, down $1.72 per tonne Premium hard coking coal, cfr Jingtang: $117.61 per tonne, down $0.35 per tonneHard coking coal, fob DBCT: $89.09 per tonne, down $2.24 per tonneHard coking coal, cfr Jingtang: $100.02 per tonne, down...Read More
Sure, silver didn't break-out above twenty bucks this week. It will likely happen next week, however, for a very specific reason...*****Half Dollar's Note: There will not be an SD Outlook on Monday. I will be travelling over the next several days, so I should have some good anecdotal information to share next week. Thank you all for your continued support, and for reading what I write.*****THE MSM...Read More
The massive capital inflows deluging into silver show no signs of abating. This is very bullish for silver, yet most traders remain unaware...by Adam Hamilton of Zeal LLCSilver investment demand is exploding in recent months, skyrocketing higher in wildly-unprecedented fashion! That has catapulted silver sharply higher since mid-March's COVID-19-lockdown stock panic. Accelerating even in this...Read More
London Metal Exchange three-month base metals prices were mostly subdued during morning trading on Friday July 17, with a record daily surge in US coronavirus cases weakening investor sentiment, while copper futures managed a slight improvement despite thin volumes and a tight forward curve. LME copper's outright price was recently at $6,406 per tonne, sustaining above nearby support levels and up...Read More
This data might just convince you that at current prices, the element known as Ag is the most incredibly undervalued tangible asset of all time...James Anderson interviewed by Sean on SGTreportThis may be the most important interview about SILVER we've ever done. Shocking, quantifiable data which just might convince you that at current prices, the element known as Ag is the most incredibly underva...Read More
"you can't wait until the market gives you all the signals and the reasons..."by David Morgan of The Morgan ReportTRIPLING-DOWN On Silver - MIGHT NEVER SEE THIS AGAIN! | https://www.themorganreport.comWatch this video on with David Smith on TRIPLING-DOWN On Silver - MIGHT NEVER SEE THIS AGAIN!, then please share with your friends and family on social media and use the caption: TRIPLING-DOWN On Si...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices hold, pipe buying stalls Seamless prices remained broadly stable in much of the world this month - with the notable exception of falling Japan fob prices, because oil and gas producers have been less inclined to fight for premium products as they cut their capital expenditure - but this was not the result of a balance...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday July 17.China The domestic market remained stable in the week ended Friday July 17, with limited spot trading, after many suppliers had sold out their cargoes available for this month. A number of smelters restarted their...Read More
The prices paid for steel scrap by mills in Turkey and Asia have moved up over the week ending Friday July 17, against a backdrop of stronger Chinese prices for iron ore and steel.Turkish steel producers continue to book deep-sea scrap at progressively higher prices through the weekUS East Coast market activity increased after new sales to TurkeyVietnamese scrap demand was supported by a surge in...Read More
Most US aluminium scrap prices rose on Thursday July 16, with increased buying interest and supposedly tighter scrap supply supporting the increases.Fastmarkets' assessments of aluminum scrap mixed low copper clips, buying price, delivered Midwest secondary smelters and mixed high zinc clips both rose by a penny to 39-42 cents per lb and 34-36 cents per lb respectively on July 16. The assessment f...Read More