Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 350,55858,01349,905137,010461,335537,473569,253 Change from Prior Reporting Period 38,3441874,206-4,15432,20438,39636,597 Traders 23566765661312185 Small Speculators LongShortOpen Interest 62,84431,064600,317 -1,37742237,019 non reportable positionsChange...Read More
Steve St. Angelo, SRSrocco Report After six long years, the precious metals are finally setting up for BIG MOVES higher. Even though the gold price has increased significantly over the past two months, we haven't seen anything yet. Of course, gold has already enjoyed big moves in other currencies such as the British Pound where it has reached an all-time new high. However, we have to be a...Read More
The US stock markets are becoming more unstable, fueling mounting anxiety about what's likely coming. After surging to new all-time-record highs in late July, stocks plunged in a sharp pullback as the US-China trade war escalated. Stock markets' resiliency in the face of bearish news is partially determined by how companies are faring fundamentally. The big US stocks' just-reported Q2'19 r...Read More
David StockmanCall it the monetary theater of the absurd. After all, here is what a determined currency manipulator did between September 2002 and July 2008.To wit, it pumped about $200 billion of new dollar liabilities into the world financial system, thereby expanding the Fed's balance sheet by 26%. Clearly, global traders and US trading partners didn't welcome that flood of freshly minted...Read More
Gary TanashianHave you heard the news? US Treasury bonds are sky rocketing as it turns out there is no inflation amid a global central bank NIRP-a-thon and race to the currency bottom. Going the other way, our 30yr Treasury yield Continuum is burrowing southward.If you check out yesterday's post you'll see proof that the 2018 NFTRH view that people should tune out the bond experts instructin...Read More
Dr. Stephen Leeb & Chris Waltzek Ph.D. - August 7th, 2019. .Mp3 file. RecapBest selling author and show Mentor, Dr. Stephen Leeb returns with insights on the financial markets.Dr. Leeb is especially fond of the yellow metal, which recently touched a new 6-year record.The BIS changed its stance on gold, which it now views as compared to cash, boosting demand.Ironically, gold is the true cas...Read More
By: Ira EpsteinGold market is a bit excessive and overbought. It has broken out to the upside..Read More
Dear Friend of GATA and Gold:In a letter he titles "Too Early to Throw in the Towel on Central Bank Gold-Market Rigging," our friend J.U. writes"Great piece you wrote about precious metals breaking out to the upside (http://gata.org/node/19326) but I suspect it is way too early to think that central bank market riggers have thrown in the towel on suppressing them."What I see, despite all the exc...Read More
Analysts have already jumped to revise their price targets on the stockShares of business review platform Yelp Inc (NYSE:YELP) are surging this morning, up 8.7% at $38 at last check. The company last night reported impressive second-quarter numbers, and also revealed its Chief Financial Officer (CFO) Charles "Lanny" Baker will be stepping down effective Sept. 2, 2019. During the search for a repl...Read More
Jefferies quickly called the stock's pullback a buying opportunityAmarin Corporation plc (NASDAQ:AMRN) is one of the biggest losers before the bell today, last seen with pre-market losses of 19.2% to trade at $14.39. A label expansion application for the company's Vascepa drug -- a treatment meant to lower triglycerides in adults that has helped the shares rise almost 31% year-to-date -- has been...Read More
Prices for Brazil-origin steel slab remained unchanged in the week ended Friday August 9, with improved demand in the export and domestic markets helping to keep sentiment buoyant.The weekly Fastmarkets price assessment for steel slab, export, fob main port Brazil, was $425-435 per tonne on Friday, stable from the previous week.Slab producers were more optimistic after the price of iron ore took a...Read More
Oil prices are building on yesterday's gains, though Dow Jones Industrial Average (DJI) futures are signaling a triple-digit drop this morning, as the blue-chip index looks unable to build on yesterday's strong gains. Trade tensions with China resurfaced overnight, after a Bloomberg report indicated the Trump administration was not ready to lift its ban on U.S. companies purchasing Huawei products...Read More
Import prices for flat-rolled steel in South America were mostly down over the week ended Friday August 9, with Chinese mills making less expensive offers and liquidity in the region remaining low.Fastmarkets assessed the price for steel cold-rolled coil, import, cfr main ports South America, at $560-570 per tonne on August 9, down from $570-585 per tonne a week before. This was the lowest level s...Read More
Ferrous scrap prices in the major trading regions other than the United States mostly moved downward during the week from Monday August 5 to Friday August 9. Limited demand for finished steel in Turkey and India, and worsening political tensions in Asia, created the conditions for prices to weaken, Fastmarkets heard. Turkish mills mostly stay out of spot markets, seeking lower prices US scrap expo...Read More
Eldorado Gold shares fell almost 9% after the latest press release.The company has submitted a preliminary short form base shelf prospectus with the securities regulatory authorities.This article explains the effect of this submission.The Skouries mine - The reason for the latest application? Overview Anyone who has read any of my previous articles will know that I am bullish on the outlook for t...Read More
Gold and the related exchange-traded funds are breaking out and miners are going along for the ride. With the yellow metal residing at multi-year highs, investors are pouring gold miners exchange-traded funds, good news for some of the leveraged funds in the group. Of course, the Direxion Daily Junior Gold Miners Index Bull 3X Shares JNUG, -5.11% is getting in on the act. JNUG, which tries to deli...Read More
Zinc's three-month price on the London Metal Exchange fell by 3% at the close of trading on Friday August 9, dropping its lowest price September 2016, while nickel futures held at newly elevated levels despite a 1.6% decline (over the day?). Turnover across the exchange was fairly light over the day's trading, with nickel volumes leading the complex at just over 10,500 lots exchanged by the close....Read More
Three-month base metals prices on the London Metal Exchange were broadly lower during morning trading on Friday August 9, with turnover predominantly low across the complex while continued buying momentum in lead this week tightened nearby spreads. Despite a 0.4% downturn this morning, the three-month nickel price held onto gains made earlier in the week, coming down from a 16-month high of $16,69...Read More
Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Friday August 9 as the Chinese yuan stabilized, with nickel continuing to push higher amid bullish sentiment. "The markets have regained some semblance of composure after the People's Bank of China's countercyclical efforts temporarily tamed the yuan beast, but this probably won't stop traders from p...Read More
SD Friday Wrap: The cartel cut just the right wire at just the right time in order to avoid total catastrophe...Gold is looking very strong right now.Silver?You can feel it.Silver is performing very strong as well, even if silver's strength is not yet reflected in silver's current "price".Check out the break-out from major resistance on silver's weekly chart:That's the 200-week moving average, and...Read More