Turkish deep-sea scrap import prices fell sharply on Thursday May 17 on news of a fresh European cargo being sold on the day.The country's steel producers were trying to get lower prices because of the weak demand in the domestic finished steel markets, sources said.A steel mill in the Iskenderun region booked the European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25) and 10,000 tonnes of bon...Read More
May 17, 2018 (Investorideas.com Newswire) Jayant Bhandari, host of the "Capitalism and Morality" seminar, discusses with Maurice Jackson of Proven and Probable the state of mining in India, as well as some mining companies that offer arbitrage opportunities.Maurice Jackson: Joining us is Jayant Bhandari, the host of the highly acclaimed "Capitalism and Morality" seminar and a prominent, sought-out...Read More
May 17, 2018 (Investorideas.com Newswire) A gold producer acquires the remaining part of a gold exploration company, and drilling at its flagship mine indicates high-grade mineralization below the existing resource.Red Eagle Mining Corp. (R:TSX; RDEMF:OTCQX; R:BVL) recently announced it has acquired the remaining outstanding shares of Red Eagle Exploration Ltd. (formerly known as CB Gold Inc.). Pr...Read More
Chinese aluminium ingot ADC 12 export prices to main Japanese ports (MJP) hit a record high on Wednesday May 16, pushed up by a tight raw material market in China after the temporary one-month shutdown of the China Certification & Inspection Group's (CCIC) North American office, which stopped all scrap imports to China immediately.Metal Bulletin's price assessment for Chinese aluminium alloy ADC 1...Read More
One of the most disappointing things I face as a college professor is the lack of understanding most students have regarding capitalism. The simple fact is, despite its importance to our daily lives, relatively few people have a strong grasp of what causes economic growth and why markets are so central to continuously rising standards of living.In my teaching, I have encountered several myths or...Read More
Vancouver, British Columbia - May 17, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Pacific Empire Minerals Corp. (TSXV: PEMC) ("PEMC" or the "Company"), a hybrid prospect generator focused in British Columbia, reports that it has completed Reverse Circulation ("RC") drilling at the Red JV Property, staked four properties, commissioned an airborne magnetic survey on its recently acquired Moff...Read More
In Other Global Markets the "Turn-of-the-Month" Effect Generates Even Bigger Returns than in the USThe "turn-of-the-month" effect is one of the most fascinating stock market phenomena. It describes the fact that price gains primarily tend to occur around the turn of the month. By contrast, the rest of the time around the middle of the month is typically far less profitable for investors. Good vs....Read More
German steelmakers have settled their monthly scrap contracts for May at unchanged prices due to a balance in supply and demand, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for May was ?,?280-300 ($331-354) per tonne delivered, unchanged from last month."Demand for scrap [in Germany] is good, but also there is no...Read More
CloseGain/LossGold $1291.00+$0.60Silver$16.44+$0.07XAU81.84-0.12%HUI177.47-0.17%GDM620.47-0.22%JSE Gold1013.99-2.72USD93.48+0.08Euro117.96-0.08Yen90.44-0.39Oil$71.49UNCH10-Year3.110%+0.013T-Bond140.375-0.5625Dow24713.98-0.22%Nasdaq7382.47-0.21%S&P2720.13-0.09% The Metals: Gold saw slight gains in Asia before it dropped back to $1285.40 in London and then rebounded in New...Read More
James Grant of Grant's Interest Rate Observer fields questions concerning the current rally in the US dollar, Fed policy, the bond market and the future of gold prices.James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Cras...Read More
The CME Group's growing share of global trade in recent years has been driven by its increasingly global reach since its commercial push in base metals began in 2012, its global head of metals Young-Jin Chang told Metal Bulletin this week.In the first quarter, CME Group posted record trading volumes with average daily metals trading volumes up by 39% year on year and daily option volumes...Read More
By Daniel R. Amerman, CFACould a committee of unelected officials increase your household's share of the national debt by $60,000 in a single meeting? In normal times - they could not. However, these are not normal times, and any appearance of normality is deceptive. The committee in question is the Federal Open Market Committee (FOMC). They met in March of 2018, and as expected, they raised the...Read More
By Dave KranzlerThe dollar is said to be "soaring," though I take issue with that characterization for now (see the chart below); 10-yr Treasury yields are also rising, though the yield on the 10-yr is only up about 67 basis points if you measure from January 1, 2017. What's really going on?Ten years of money printing by the Federal Reserve has removed true price discovery from the markets....Read More
Bob Moriarty of 321 Gold profiles a company that holds a large land position in the "most unexplored gold belt in British Columbia." As I just wrote yesterday, I see a low in the metals and junior resource shares approaching. It's time to load up the truck. The metals have meandered up and down for almost two years building a base. I believe it is for a march going much higher soon. I have a numb...Read More
By Frank HolmesFor more than a week now, West Texas Intermediate (WTI) crude oil has been trading north of $70 per barrel, a level we haven't seen since November 2014. Gas prices are likewise trending up, as I'm sure you've noticed. According to the American Automobile Association (AAA), the average cost for a gallon of regular gas was $2.88 on May 15, up nearly 25 percent from a year ago.This w...Read More
A gold producer acquires the remaining part of a gold exploration company, and drilling at its flagship mine indicates high-grade mineralization below the existing resource. Red Eagle Santa Rosa Gold ProjectRed Eagle Mining Corp. (R:TSX; RDEMF:OTCQX; R:BVL) recently announced it has acquired the remaining outstanding shares of Red Eagle Exploration Ltd. (formerly known as CB Gold Inc.). Prior to...Read More
In this special double header episode of the Keiser Report, Max and Stacy discuss the capricious economic and financial policies of the United States that are even leading European allies to consider alternatives to the SWIFT system upon which much global trade currently relies. As the US has increasingly used its authority over the payments system to economically punish competitors, enemies and a...Read More
The first four months of 2018 were positive for the gold market. The price of the yellow metal has gained about 2 percent in that period. As one can see in the chart below, the rally started in mid-December. Chart 1: The price of gold in U.S. dollars in 2018 (London P.M. Fix). Gold bottomed at $1,240.9 on December 12, just as the FOMC meeting occurred, when the U.S. central bankers hiked the f...Read More
Jayant Bhandari, host of the "Capitalism and Morality" seminar, discusses with Maurice Jackson of Proven and Probable the state of mining in India, as well as some mining companies that offer arbitrage opportunities. Maurice Jackson: Joining us is Jayant Bhandari, the host of the highly acclaimed "Capitalism and Morality" seminar and a prominent, sought-out advisor to institutional investors. Tod...Read More