StrengthsThe best performing metal this week was gold, up 1.54 percent. Gold investors were stocking up for further gains in the yellow metal ahead of the Fed's rate cut decision. On Wednesday, holdings in bullion-backed ETFs rose 4.8 tons to the highest level since April 2013, according to B...Read More
Jordan Roy-ByrneAfter a major trend change, it can be difficult for the majority of investors and market watchers to shift and adjust accordingly to the new trend.It's no different in the current case of precious metals which, other than a huge rally in the first half of 2016 have been dead money for the majority of the current decade. Despite the newfound bullish fundamentals and bullish techni...Read More
By: Larry LaBorde During WWII the Germans were in need of money to buy foreign materials to conduct the war. It is estimated they stole almost 500 metric tons (around 16 million troy oz equal to $23 billion USD @ $1,450 / oz) from various governments. Most was taken from Belgium, the Netherlands, Austria and Czechoslovakia. The French gold (about 2,500 metric tons or 80 million troy oz) was sav...Read More
By Avi GilburtThe Fed gave us exactly what the market expected in a .25% rate cut, and even gave us a "gift" with the early cessation of Quantitative Tightening. Normally, most would view this as a bullish catalyst. However, with market sentiment topping out in a bullish extreme, market participants interpreted the Fed action as bearish (despite its positive substance), and the market sold o...Read More
Import prices for rebar in Singapore softened over the past week on ample supply from India and Turkey.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $485-490 per tonne for the week to Monday August 5, narrowing downward by $5 per tonne from the previous week.Mar...Read More
Stephen Roach, senior fellow at Yale University and former chairman of Morgan Stanley Asia, joins CNBC's "Closing Bell" to discuss President Trump's tariffs on China and what this means for the relationship between the two countries.Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute of Global Affairs an...Read More
Suddenly - I mean the signs had been everywhere for a long time and "suddenly" doesn't really apply - the whole house of cards came tumbling down.Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin). In his prior life, h...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
President Donald Trump makes a statement from the White House on the two mass shootings that took place at the weekend in El Paso and Ohio in which 29 people were killed and about 50 injured in less than 24 hours.Read More
The state of California is taking a page out of Malcom X's book to ensure that future generations of students know that capitalism is an inherently 'racist' - and just as bad as the patriarchy, white supremacy and 'ableism,' according to a recent Op-Ed Continue...Read More
With Inflation hovering around 2% and the level of unemployment at historic lows, the Fed is fully attaining its prescribed dual mandate of full employment and stable prices (now defined as 2% inflation rate). Given this, one would think Jerome Powell was enjoying his summerContinue...Read More
Join Mike Maloney as he examines the latest in a long series of false promises from professional 'morons and liars'. It's the oldest trick in the book.Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and silver sales/storage and one of the world's most highly regarded investment education companies. He is a...Read More
Jason talks about the relationship between gold prices in US Dollars and the Dollar. Normally, they're inversely or negatively correlated. However, for short periods of time they can rise together and in periods of extreme crisis, like during the 2008-2009 global financial crisis, they can rise together for 6 months. Track Gold Prices and U.S. Dollar Correlation For Free Here: https://www.macrotre...Read More
With a national debt approaching $23 trillion and a trillion dollar deficit for this year alone, Congress last week decided to double down on suicidal spending, passing a two year budget that has the United States careening toward catastrophe. While we cannot say precisely when the economic crash will occur, we do know that it is coming. And last week Congress pounded down on the accelerator.We ar...Read More
"In recent days, China has taken concrete steps to devalue its currency, while maintaining substantial foreign exchange reserves despite active use of such tools in the past." Continue...Read More
Bloomberg is reporting that China has halted imports of U.S. agricultural products, a move that will further heat up trade tensions between the world's two superpowers. Continue...Read More
"We cannot let those killed in El Paso, Texas, and Dayton, Ohio, die in vain. Likewise for those so seriously wounded. We can never forget them, and those many who came before them. Republicans and Democrats must come together and get strong"Continue...Read More
TOPICS IN THIS INTERVIEW:01:15 Fed rate cuts and recession risks looming05:35 The realization that the economy is going to implode08:20 Gold strongly closing out Q3 201912:40 Gold on steroids: Silver is severely undervalued!18:30 Bitcoin $10,000, speculation or utility driven value?25:00 How to own Gold in the safest way possibleMark O'Byrne is executive and research director of www.GoldCore.com w...Read More
Turkish steel producers have not made any deep-sea bookings at the start of this week because of soft demand for finished long steel, sources said on Monday August 5.After the mills booked several deep-sea cargoes in the week ending July 26, they have backed out of the market."The mills in Turkey want to sell some [rebar] before resuming their...Read More
More deals have been made in the United States pig iron market at higher prices because of improved market fundamentals, sources told Fastmarkets during the week ended Friday August 2.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $365-368 per tonne on Friday, widening upward from $365 per tonne a week before.Bookings of Ukraine-origin pig iron for September shipme...Read More