Technical analyst Clive Maund charts silver and explains why he is bearish in the short to medium term.Whichever way you cut it, silver's chart looks bearish for the short to medium term, but against this we must set its rapidly improving COT structure and the mega-bullish silver to gold ratio (by all past standards). Silver's 7-month chart is a rather grim picture. On it we see that key support f...Read More

China's domestic and export prices for rebar decreased on Friday April 24 along with the weaker demand. Domestic Eastern China (Shanghai): 3,420-3,450 yuan ($483-487) per tonne, down by 20 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,420-3,470 yuan per tonne, narrowing by 10-20 yuan per tonne week on weekRebar futures traded below Thursday's settlement price of 3,356 yuan per tonn...Read More

What are we to believe here?submitted by J. Johnson via JS MinesetGreat and Wonderful Friday Folks, Gold is doing it again, going higher 3 days in a row with June Gold at $1,757.80 up $12.60 and right close to the high at $1,760.20 with the low at $1,742.20. Silver, the red headed step child, is still being dragged along with the July contract at $15.625, up 9.9 cents with the high nearb...Read More

On Thursday, the initial jobless claims rocketed to almost 3.3 million. Quite an unimaginable number. What does it imply for the US economy and the gold market?One of the Most Scariest Things You Will See This WeekWould you like to see something scary? I guess not, but I'll show you anyway! But don’t worry: it will not be an microscope image of the coronavirus! Instead, I will present you a...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: 4-million-tonne surplus for 2020We have made further downward revisions to our aluminium demand expectations for 2020 and, although there have been smelter capacity reduction in China too, the net effect is that our forecast for the global surplus this year has swelled to 4 million tonnes, from 2.7 million tonnes...Read More

MarkTwain said that history does not repeat itself, but it rhymes. It’s certainlytrue in both life and financial markets. Let’s explore how the recent historylessons apply to the precious metals.The2008 - Now LinkLet’s recount the similarities. We already had goldreversing on huge volume, and we saw it decline very strongly in the first weekafter the top. We already had another a...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Average LME aluminium price down by 2.5% week on weekAlthough LME aluminium began this week on the rebound, prices extended their recent downtrend further last week, approaching the $1,400-per-tonne level. The weekly average LME aluminium cash price was down 2.5% last week to $1,432.50 per tonne from previous week's $1,469.6...Read More

The historic action of the precious metals sector over the past few weeks has continued. The strong recovery in GDX, GDXJ, and Silver has potentially invalidated the technical breakdown that occurred during the crash. It appears to be a failed breakdown. Furthermore, Gold was looking vulnerable on the weekly, and monthly chart yet was able to slingshot back to $1700/oz. It is currently up $88/oz o...Read More

Our research team continues to dig into underlying patterns and set up in the global markets to assist skilled technical traders in understanding the current Covid-19 virus event and other key technical data.  Recently, we’ve authored a number of detailed research articles that we believe helped prepare traders for the events of the past 30 to 90+ days.  If you missed them, please...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: OversoldAluminium has been the hardest hit base metal over the past week, after relentless selling pressure took it to fresh multiyear lows while its LME peers generally consolidate or try to rebound. Aluminium is seeing far less in the way of supply restraint or disruptions than the other metals. But this market...Read More

On Monday, the Fed introduced QE-infinity. What does it imply for the US economy and the gold market?Fed Drops Bazooka… and Goes Nuclear Instead!On Monday, the Fed pulled out an even larger bazooka than it did previously. Or, forget about the bazooka. The US central bank has gone nuclear! Indeed, the US central bank announced extensive new measures to support the economy. On March 15, the F...Read More

The latest forecast from Fastmarkets' team of analysts is ready to view.Aluminium: Downside momentum maintainedThe aluminium price has continued to decline, with LME cash even falling below the $1,500 per tonne mark at the start of this week. Downside pressure and momentum remains in the short term while ex-China demand plummets amid auto production line closures and while smelters resist capacity...Read More

Online gambling isalready a huge market and if predictions are anything to go by, it’s only goingto get bigger. In 2017, roughly $45.8 billion was spent by people gambling atonline casinos, sportsbooks and other sites. By 2024, that figure is expectedto rise to a staggering $94.4 billion. There are several key reasons as to whythe market is projected to experience so much growth over the nex...Read More

Last week was another week of wild marketvolatility for all asset classes, and precious metals were no exception.  Gold continues to be the least volatile metal.  And it continues to hold up better than thechaotic stock market during most trading days. But it has experienced somedownside in recent days.  Money Metals Exchange and other bullion dealershave experienced an unprecedente...Read More

In the first part, we analyzed the HIV/AIDS pandemic, as the most deadly pandemic since the 1971, and the SARS pandemic, as the most similar to the current COVID-19 pandemic. However, we have witnessed several other pandemics in the recent decades. Let’s investigate them now and draw conclusions for the global economy and the gold market. Let’s start with the epidemic of 2009 A/H1N1 fl...Read More

Global markets are contracting in the face of the Covid-19 pandemic, and the prices for flat steel products continue to retreat, with prices for coated steels down by a further 5% since late March in most of the markets that Fastmarkets tracks.The latest edition of Fastmarkets' Galvanized Steel and Tinplate Market Tracker, for April 2020, is now available to view.Further price falls are almost cer...Read More

“For twelve consecutive years, gold was up every single year whether there were inflation fears, deflation fears; strong dollar, weak dollar; political stability, political instability. It didn’t matter – strong oil, weak oil. . . Gold went up for twelve years. . . When gold embarks upon its next move, I believe that you will see that long wave take gold relatively quickly, but i...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Despite these unprecedented times, US sheet prices moved in line with our expectations over the past month. While we maintain our view on the direction of pricing during 2020 and the length of the pricing downturn, as the Covid-19 crisis deepens we have increased the magnitude of the price declines through the second quarter...Read More

Economic data shows that the coronavirus crisis will be severe. To soften the blow, Trump announced his support plans for the economy. Will the stimulus package help? And when will gold finally rise?COVID-19 Hits the US EconomyThe global epidemic of COVID-19 has already hit the US economy. We start to see evidence how bad this crisis might be. First, retail sales dropped 0.5 percent in February. T...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.As oil price stumbles, outlook for welded markets weakensIn February, oil prices, already hit by the economic slowdown in Asia, turned lower on the failure of OPEC+ to reach an agreement on production cuts. This was enough to shake oil markets, but the collapse of global demand due to the pandemic has driven Brent below $30/...Read More