U.S. trade data is also in focus today Dow Jones Industrial Average (DJI) futures are signaling a positive start amid a number of upbeat headlines. In Hong Kong, leader Carrie Lam said the government will withdraw a controversial extradition bill that ignited months of violent protests, while U.K. lawmakers attempt to block a no-deal Brexit following a bruising defeat for Prime Minister Boris John...Read More
Does it matter if volatility picks up when stocks were near fresh highs?Whether it's going up or down, stocks have been making bigger daily moves recently. The chart below shows the S&P 500 Index (SPX) along with its average daily absolute return over the past month of trading. That's the daily percent change of the index whether it moves up or down. Investors tend to get uneasy when they start se...Read More
European market participants now question whether an expected domestic price rise for hot-rolled coil (HRC) will be seen, due to the emergence of competitive offers from India, sources told Fastmarkets on Wednesday September 4.Buyers had expected that transaction prices would move up in the first half of September, supported by a seasonal recovery in trading activity.But this expectation has faded...Read More
The price range for steel rebar in the domestic market in Southern Europe widened downward this week with decreasing ferrous scrap prices and falling demand for exports from customers in Northern Europe, sources told Fastmarkets on Wednesday September 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?460-485 ($504-531) per tonne,...Read More
By: Frank Holmes, US FundsThe fast food world gave us an interesting case study in supply and demand last week. By now you've no doubt heard about The Chicken Sandwich, the surprise superstar menu item from Popeyes Louisiana Kitchen that's launched 1,000 blog posts, op-eds and thought pieces. According to reports, the Cajun restaurant sold out of its entire seven-week inventory in just over two...Read More
Jordan Roy-Byrne CMT, MFTAA few weeks ago we wrote that precious metals were at risk of a correction. First, they powered higher. But last week they ran into technical resistance levels that date back well beyond only a few years. This is true for Gold, Silver as well as the miner ETFs: GDX and GDXJ.Starting with Gold, we can see that it has struggled to get through $1550/oz. That's not a surp...Read More
Clint Siegner, Money MetalsIndividual investors are nervous about the stock market and the possibility of recession.Meanwhile, institutional money from banks and hedge funds is keeping a bid under equities, pushing stock prices higher after every minor dip. Together with the "Plunge Protection Team," they are keeping the wheels from coming off the stock market cart.The question is whether that w...Read More
By: Ira EpsteinGold is just a very solid move, almost straight up since gold's low in May - gold weekly chart:Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 4.Please click...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 4 that are worth another look.A sustained weakness in the United States' Midwest aluminium premium and increased barge freight rates pushed the estimated arbitrage between Southeast Asian warehouses and the United States to an 18-month low.Zinc premiums in Northern Europe have risen with falling zinc prices, while sp...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 4.Please click...Read More
The three-month zinc price on the London Metal Exchange topped gains at the close of trading on Wednesday September 4, appreciating by almost 5% to close at its highest level since August 5, while the copper outright price closed at a two-week high. The three-month zinc contract ended the day's trading at $2,310 per tonne, closing above the nearby resistance level for the first time since early Au...Read More
A sustained weakness in the United States' Midwest aluminium premium and increased barge freight rates pushed the estimated arbitrage between Southeast Asian warehouses and the United States to an 18-month low.The narrowing arbitrage follows on from a continual dip in regional aluminium premiums in the US.Fastmarkets' assessment of the monthly average midpoint for the aluminium P1020A premium, ddp...Read More
The bankers are in SERIOUS TROUBLE, especially with the truly mammoth derivative short in silver...by Harvey Organ of Harvey Organ BlogSEPT 4//GOLD REBOUNDS AGAIN UP $5.00 TO $1551.60//SILVER ALSO HAS A STELLAR DAY UP $.28 TO $19.43// HUGE PAPER DEPOSIT AT THE FRAUDULENT GLD OF 11.73 TONNES TO STAND AT 890.04 TONNES//HUGE INCREASE IN GOLD COMEX OI AND EFP ISSUANCE//STRONG OI AND STRONG EFP ISSUANC...Read More
A key point to keep in mind in all this is that although the metals will be appreciating in price, they are simply moving to...by Clive Maund via Streetwise ReportsThe distinguishing feature of fiat money systems is that they are licentious-they are created by corrupt politicians so that they can act without restraint by, for example, promising the citizens the earth in order to improve their chan...Read More
SD Midweek Update: The cartel faces its biggest challenge this week, and we're about to find out if they're still in control of gold & silver...The move is silver is just getting started, and the moves over the last couple of months have been driving the chart huggers nuts.How so?Well, the technicals are all screaming "overbought", but what the chart huggers do not understand is that what we're se...Read More
The Gold Shares ETF set its 2019 high of $146.13 on September 3, with its all-time high of $185.85 a long-term target.The commodities ETF continues to trade below its "reversion to the mean" now at $15.41.The long dollar ETF remains set on its 2019 high of $27.01 on September 3, testing its monthly risky level for September at $26.99.Here are the weekly charts for the gold, commodities and dollar...Read More
The price of steel rebar in the Northern European domestic market moved slightly lower this week on decreasing ferrous scrap costs, sources told Fastmarkets on Wednesday September 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-515 ($537-564) per tonne on Wednesday, down by ?,?5-10 per tonne week on week.Meanwhile, Fastmarke...Read More
The three-month zinc price on the London Metal Exchange topped gains at the close of trading on Wednesday September 4, appreciating by almost 5% to close at its highest level since August 5, while the copper outright price closed at a two-week high. The three-month zinc contract ended the day's trading at $2,310 per tonne, closing above the nearby resistance level for the first time since early Au...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 4 that are worth another look.A sustained weakness in the United States' Midwest aluminium premium and increased barge freight rates pushed the estimated arbitrage between Southeast Asian warehouses and the United States to an 18-month low.Zinc premiums in Northern Europe have risen with falling zinc prices, while sp...Read More