Stewart Thomson 1. A year ago, I predicted that any US stock market sell-off would be accompanied by a dramatic surge in the price of GDX an GDXJ.2. That's exactly what happened; the stock market tanked and key gold stocks soared.3. This year, I'm predicting that any major US stock market crash will again be accompanied by the soaring price of the gold producers...4....Read More
By: Ira EpsteinGold hit the upper bolinger band and retreated yesterday, some of the pros took some off the table. Big US holiday coming too. Gold Market overbought..Read More
(Refiles to fix typos in second paragraph.) * Graphic: World FX rates in 2019* European shares open lower; Asian shares gain * Japanese yen up 0.5% * Oil gainsBy Ritvik CarvalhoLONDON, Aug 27 (Reuters) - World shares gained on Tuesday assome investors held out hopes for a trade deal between theUnited States and China, even though they continued to raisetariffs on each other last week.Shares in Asi...Read More
Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country's lira, but ship scrap prices have been stable, sources said on Tuesday August 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing upward from last week's TRY1,550-1,770...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
The export market for Commonwealth of Independent States (CIS)-origin hot-rolled coil and cold-rolled coil weakened during the week ended Monday August 27 amid anticipated further price declines and high trader stocks.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS was $450-460 per tonne on Monday, falling by $20 per tonne week-on-week. "We see that mills are stru...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have decreased during the week ended Tuesday August 27 on lower offers, with demand yet to recover as buyers hold back until prices reach a bottom. The market is expected to improve after prices stop falling, according to sources. UAE Offers for imports of hot-rolled coil (HRC) from China to the UAE were heard a...Read More
There are two bankable trends that are still in the early stages and will grow for the next five years: 5G phones and financial technology.Five years ago, on July 11, 2013, I wrote an article called "Three Cloud Stocks Set to Outperform the Market."The stocks I talked about were PANW, CSCO, and MU. If you owned those stocks for five years, you would have made 375%, 300%, and 103%. And CSCO, the 10...Read More
China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More
China's rebar prices continued to experience pressure from the country's protracted trade tensions with the United States on Tuesday August 27.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($497-504) per tonne, down 70-90 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, down 50 yuan per tonneSimmering tensions between the world's two largest economies pushed down rebar pri...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products.Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes for September deliveries, taking advantage of falling prices, sources said on Tuesday August 27.A steel mill in the Marmara region booked a 42,000-tonne US cargo, comprising HMS 1&2 (80:20) at $270 per tonne and shredded at $275 per tonne cfr.Another steel mill in the Marmara region booked a UK cargo, comprising HMS 1&2 (80:20)...Read More
Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country's lira, but ship scrap prices have been stable, sources said on Tuesday August 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing upward from last week's TRY1,550-1,770...Read More
Seaborne iron ore prices fell on Tuesday August 27, closing in on $80 per tonne cfr, amid weaker futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.35 per tonne, down $2.56 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $82.73 per tonne, down $2.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.07 per tonne, down $3.25 per tonne. 58...Read More
The Black Sea export market for steel slab has come under pressure from the downtrend in the finished flat steel market and the weak sentiment heard in most outlets at the end of this month, Fastmarkets heard on Tuesday August 27.Buying activity in the traditional markets of Europe and Turkey was reduced because of holiday absences among potential customers. But both markets were expected to show...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More
Stewart Thomson 1. A year ago, I predicted that any US stock market sell-off would be accompanied by a dramatic surge in the price of GDX an GDXJ.2. That's exactly what happened; the stock market tanked and key gold stocks soared.3. This year, I'm predicting that any major US stock market crash will again be accompanied by the soaring price of the gold producers...4....Read More
Dear Friend of GATA and Gold:The English-language edition of the Chinese government's newspaper Global Times published on Sunday a pretty dispassionate commentary attributed to the Beijing-based public policy research consultancy Anbound (http://www.anbound.com/AboutUS.php) advocating the world's return to a gold standard for currencies."From the perspective of the global financial system," the...Read More