Xi Jinping is General Secretary of the Communist Party of China, Head of the Armed Forces, and President for Life.He has things to worry about. Xi is the "princeling" son of a Revolution hero who was sent down to the farm during Mao's Cultural Revolution but made his way back...The president picked up a degree in chemistry and went on to get a PhD. He has read all the classics on how to govern ef...Read More
Apple (AAPL) will unveiled its latest iPhone this morning west coast time. Will the new model determine whether the stock makes a move either up or down? Based on our INK Edge signals, it just might. Right now, the stock has a Mixed INK Edge outlook. CEO Tim Cook's selling last month has helped to cloud the picture.Tim Cook (red circle on chart) has been selling lately under a trading planAlthoug...Read More
Chinese cold-rolled coil export prices remained unchanged over the past week despite an anti-dumping investigation being instigated in Vietnam.Vietnam's Ministry of Industry & Trade launched the probe after requests from several Vietnamese producers. The investigation encompasses non-alloy cold-rolled steel sheet and coil in widths of less than 1,600mm and in thi...Read More
The downturn in global steel prices and the current weak demand have begun to affect the prices for flat steel imports into the United Arab Emirates (UAE), sources said on Tuesday September 10.Import prices in Saudi Arabia have yet not been affected, but they were expected to change by next week, sources said.UAEOffer prices for hot-rolled coil (HRC) from China have fallen as low as $470 per tonne...Read More
Steel hot-rolled sheet prices in Russia's Central Federal District around Moscow have softened first time since mid-April on the seasonal slowdown, sources told Fastmarkets on Monday September 9.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 43,000-44,900 roubles ($655-684) per tonne on September 9, including 20% VAT. This was down from 45,100-45...Read More
Import prices for steel billet in the United Arab Emirates have gone down because of the global fall in steel prices and poor demand, and rebar prices were expected to start a similar downtrend soon, sources said on Tuesday September 10.Market participants were expecting new prices to be announced in the near future, Fastmarkets was told.Domestic rebarEmirates Steel is the UAE's largest producer,...Read More
The Supreme Administrative Court of Egypt has again postponed its decision on the possible re-imposition of safeguard duties on billet and rebar imports and will not discuss the matter until October 5, Fastmarkets understands.The move prolongs the uncertainty in the market, which has led to a significant reduction in buying activity, sources told Fastmarkets on Tuesday September 10....Read More
Rebar prices in Russia's major steel-consuming region - the Central Federal District around Moscow - continued to fall over the past week due to a combination of high availability and the seasonal slowdown.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 36,000-37,000 rubles ($547-562) per tonne on Monday September 9, down...Read More
Turkish deep-sea scrap import prices fell again on Tuesday September 10, after a Baltic Sea supplier agreed to accept a lower bid from a Turkish steel mill.Late on Monday, a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr.And other Baltic Sea scrap suppliers were offering HMS 1&2 (80:20) at $245 per tonne cfr.As a result....Read More
Michael Kosares, USA Gold Bank of England governor Mark Carney, in something of a shocker, told the recent Jackson Hole central bankers' conference that the world's reliance on the US dollar 'won't hold' and needs to be replaced by a new international monetary and financial system based on many more global currencies," according to a Financial Times report. The greatest impact of Carney's bombs...Read More
By: Ira EpsteinGold at lower Bollinger band support, gold at an important number, to me..Read More
Jordan Roy-Byrne CMT, MFTAIt has taken a few weeks to play out but our warning of a correction in precious metals (first on August 18) is coming to pass. Last week Gold, Silver and GDX all formed big bearish reversals at multi-year resistance levels. Yes, these resistance levels (Gold $1550, Silver $18.50, GDX 31) date back to 2013.Bonds and precious metals have benefitted from the shift in Fed...Read More
Dear Friend of GATA and Gold:U.S. Rep. Alex X. Mooney, R-West Virginia, is continuing his efforts to get answers from the U.S. Treasury Department, Federal Reserve, and Commodity Futures Trading Commission about surreptitious interventions by the U.S. government in the financial and commodity markets and particularly the gold and silver markets.Mooney's efforts began with letters sent to the Fed...Read More
By: Ira EpsteinRead More
IInterest rates on the Ten-Year Note still have a long way to fall if they are going to achieve the 0.73% target shown in the chart (see inset). Although it is mildly bullish that they have bounced from well above the 1.30% Hidden Pivot target given here earlier, the rally would have to hit 2.18% to turn the weekly chart bullish. For now, though, we'll need to respect the uptrend because i...Read More
The current fall in gold and silver is just a correction and not a short term bearish trend. Please remember that there is a difference between correction and a bearish trend. Bearish trend will be there only if gold trades below $1487 after the FOMC on 19th September. Sharp correction till the FOMC should be used to invest or go long in futures with higher trailing stop loss. Please do not trad...Read More
Activity in the seaborne iron ore market picked up on Tuesday September 10 and prices continued to strengthen. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.22 per tonne, up $0.25 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.61 per tonne, up $0.25 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.03 per tonne, up $0.73 per tonne.58% Fe fines premium index,...Read More
Harley Schlanger's work can be found at LaRouchePAC.com.Read More
Today's guest, Charles Hugh Smith, shares his thoughts on how capitalism as we have know it is being challenge. During our discussion he shares his thoughts on how monetary policy makes it hard for citizens to save and invest if they can't earn interest. Charles Hugh Smith writes the Of Two Minds blog which covers an eclectic range of timely topics: finance, housing, Asia, energy, long-term trends...Read More