Dave KranzlerBullion Star released a graph Tuesday that showed Switzerland exported 90 tonnes of gold to the London gold market (U.K.) in July, which dwarfed exports to India and China. Bloomberg's spin on the data was that the gold was needed for ETFs. Of course, as is typical, the Bloomberg "journalist" likely regurgitated "information" that came from a source rather than fact-chec...Read More
The U.S. could “drown the world in oil” over the next decade, which, according to Global Witness, would “spell disaster” for the world’s attempts to address climate change.The U.S. is set to account for 61 percent of all new oil and gas production over the next decade. A recent report from this organization says that to avoid the worst effects of climate change, &ldqu...Read More
The 2019 Economic Symposium in Jackson Hole has begun! On Friday, we’ll hear Jerome Powell discuss the latest monetary policy shifts. How will it affect the gold market?Jackson Hole 2019 Has BegunThis week is rather light in terms of incoming economic data, with the minutes from the last FOMC meeting being the only exception. Now, investors await the annual Jackson Hole Economic Policy Sympo...Read More
Global scrap prices trended downward during the week ended Friday August 23, negatively affected by lackluster demand with buyers taking a pessimistic outlook on scrap prices in the near term. Turkish import prices down on tepid demand US export prices flat on lack of trading Asian import prices decline, buyers wait for lower prices Indian prices hit new year-to-date low.TurkeyTurkish mills finall...Read More
The tech name is buying Pivotal Research and Carbon BlackVMware, Inc. (NYSE:VMW) stock is down 7.7% today at $136.72, after the virtualization software firm said it is buying cloud concern Pivotal Software (PVTL) and cybersecurity firm Carbon Black (CBLK) in separate deals valued at roughly $4.7 billion. This is offsetting a second-quarter earnings beat for VMW, and has sparked a round of bearish...Read More
VMware agreed to buy Pivotal Software for $2.7 billion Dell-controlled Pivotal Software Inc (NYSE:PVTL) just inked a deal with VMware (VMW), and the stock is skyrocketing as a result. VMW on Thursday said it bought Pivotal in a $2.7 billion deal. PVTL stock on course for its highest close since June, up 8.6% at $14.88.The security is still far from closing its early June bear gap, which culminate...Read More
Fed Chair Jerome Powell will speak later this morning Dow Jones Industrial Average (DJI) futures are signaling a triple-digit drop out of the gate, under pressure from renewed trade tensions with China. Wall Street seemed ripe for healthy gains ahead of this morning's speech from Fed Chair Jerome Powell, but stock futures immediately pivoted lower after China announced it was ready to raise tariff...Read More
The import pig iron market in the United States was slow and soft in the week to Friday August 23, with most participants preferring to remain in wait-and-see mode amid price trend uncertainty, sources told Fastmarkets.Fastmarkets' price assessment for pig iron import, cfr Gulf of Mexico, US, slipped to $360-365 per tonne on August 23, down by $3-5 per tonne from $365-368 per tonne the week before...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 352,29452,30145,250133,408469,658530,952567,209 Change from Prior Reporting Period 6,071-3,832-2,208-3,4159,1084483,068 Traders 22860745659308171 Small Speculators LongShortOpen Interest 63,85527,598594,807 397-2,223845 non reportable posi...Read More
The mid-tier gold miners' stocks have soared in recent months on gold's decisive bull-market breakout. They are this sector's sweet spot for stock-price upside potential, with room for strong production growth which investors love. That's an attractive contrast to the stagnating major gold miners. The mid-tiers' recently-reported Q2'19 results reveal whether their fundamentals justify th...Read More
By Mike Gleason, Money Metals Exchange Gold and silver markets test some near-term technical support levels late this week, investors are focused on takeaways from the Jackson Hole symposium. Federal Reserve chairman Jerome Powell headlined a list of other central bankers, academics, and financial elites at the annual Wyoming gathering. Powell was widely expected to signal a rate cut ahead d...Read More
David HaggithPretty good if you ask me. Most economic indicators this year have moved relentlessly in the direction of recession, and now the Cass Freight Index is saying a US recession may start in the 3rd quarter, fitting up nicely to my prediction that we would be entering recession this summer.Cass comes on boardThe Cass Freight Index is one of the most robust proxies for the US and global e...Read More
By: Ira EpsteinGold in a distribution pattern. How do we come out of it is the question:Read More
Daniel R. AmermanThe front page of the August 16th Wall Street Journal contains the information found in the remarkable graph below.As can be clearly seen, year to date around the world - including in Austria, Japan, Germany, and the U.S. and the U.K. - we are in practice seeing some of the most astonishing short-term returns ever seen when it comes to long and ultralong bonds.The title of the...Read More
Dave KranzlerBullion Star released a graph Tuesday that showed Switzerland exported 90 tonnes of gold to the London gold market (U.K.) in July, which dwarfed exports to India and China. Bloomberg's spin on the data was that the gold was needed for ETFs. Of course, as is typical, the Bloomberg "journalist" likely regurgitated "information" that came from a source rather than fact-chec...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
The London Metal Exchange has just finished its trial to calculate nickel prices using a volume weighted average price (VWAP) method on the exchange's electronic trading platform. If early indications are anything to go by, metals market participants did not embrace this method of price discovery in the way some had anticipated. For three months since Monday March 18, closing prices for nickel car...Read More
The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Wilbur Ross said the US Midwest aluminium premium is at inflated levels that do not justify the cost of transportation and logistical handling costs that it was originally designed to reflect. His view is being echoed by a number of...Read More
Bakkt is set to launch on September 23rdBitcoin hash rate reached a new ATH this month ahead of halvingNew Zealand tax authority lets citizens receive crypto salariesBTC/USD bull market is far from overAugust 2019 has been full of positive crypto news so far. The Bakkt launch will bring legitimacy to crypto and attract additional institutional capital. The BTC hash rate hitting a new all-time high...Read More