By Jordan Roy-Byrne CMT, MFTA It was music to gold bug ears. We've all heard the seemingly shocking or outrageous price targets for Gold. So it's not new. But this time from a non gold pusher. Someone with credibility in the larger financial world and a track record to boot. Gundlach's comment was included in every piece of Gold literature that recently crossed my desk. No doubt, if Gold s...Read More

LatestPrice – $16.47Pattern – price looks to have been in a corrective patternever since the impulsive move up off the December 2015 low culminating in the July2016 high. I expect this corrective phase is in its very final stages. WeeklyChartBollingerBands – price has been toing and froing between the upper and lower bands whichis typical of corrective action. Price is now back a...Read More

SHANGHAI, Apr 30 (SMM) – Silicon prices remained stable but still hovered at low levels for the week ended Friday April 27.The price of non-oxygen #553 silicon at Huangpu Port stood at 12,500 yuan/mt during the week. This compared with 12,850 yuan/mt during the same period last month. Some plants raised offers for low-grade silicon due to relatively stronger demand, and a few order...Read More

By Frank HolmesStrengths? The best performing metal this week was gold, down 0.92 percent. This week was fairly negative for gold as the dollar held strong and the 10-year Treasury yield reached its highest since 2014 to 3 percent. A new use of blockchain technology will allow jewelers to track diamonds and gold from where they were mined to where they will be sold in retail. F...Read More

Turkey's biggest steel producer, Erdemir Group, sold 1.937 million tonnes of flat steel products in January-March 2018, up by 9.19% from the 1.774 million tonnes sold in the corresponding period of 2017, the group said last week.The group reported earnings before interest, taxes, depreciation and amortization (Ebitda) for January-March 2018 of TRY1.67 billion ($411.91 million*). This was up by 25....Read More

By Steve St. AngeloWhen it comes to what happens during the next major market correction-crash, we can count on that "this time will be different" for the gold and silver prices. While many precious metals investors believe that gold and silver will crash along with the broader markets, the charts and data suggest the opposite.In my newest video, Why Gold & Silver Won't Crash Along With The St...Read More

By Keith WeinerA reader asked us this week about the personal savings rate. Most people can sense that something is wrong if the rate is in a long-term falling trend, or if it falls too low (whatever level that may be). We argue that falling savings is part of the larger process of capital destruction. And unfortunately, one should expect falling savings rates when there is falling yield purchas...Read More

CIS exporters of rebar and wire rod increased their offers in the week ending Monday April 30, on improving demand and low stocks in the global market, and in China in particular."At the moment we see an increase in demand in the major sales outlets. Stocks of material are minimal and there is already a [shortage] in the markets," a producing source told Metal Bulletin. Metal Bulletin's weekly pri...Read More

Economists have been struggling to explain how unemployment can fall to 4% without wages starting to accelerate. The following chart shows paychecks rising at about the rate of inflation over the past five years, which means the average worker's earnings don't buy much more now than in 2013. The reasons for this glacially slow recovery include demographics, debt, foreign competition and automati...Read More

By Avi GilburtAs the market continues to whipsaw market participants, it has certainly left many of you scratching your head.As each day goes by, it offers me another opportunity to chuckle when I see so many attempts by pundits to try to explain what latest news events cause each whipsaw. And when they try to fit their square pegs into round holes, or, when they don't have any pegs at all when...Read More

Earnings at Peruvian steelmaker Aceros Arequipa more than doubled in the first quarter of 2018 compared with the corresponding period of last year on higher sales prices.The mill reported earnings before interest, taxes, depreciation and amortization (Ebitda) of 97 million nuevos soles ($29.97 million), against 39 million nuevos soles the previous...Read More

Keith says many have been calling for a price breakout, but not understanding these fundamentals explains why the breakout hasn't happened yet...by Keith Weiner of Monetary MetalsA reader asked us this week about the personal savings rate. Most people can sense that something is wrong if the rate is in a long-term falling trend, or if it falls too low (whatever level that may be). We argue that fa...Read More

Gold and silver will zoom if there is any indication that interest rates will not be hiked in June by the Federal Reserve. Trump trade wars with China and Europe will impact industrial metals more. The Korean peninsula peace will be bearish for gold. There can be profit taking in long US dollar positions before the FOMC meet and April's NFP. Fundamentally gold and silver are bearish as physical...Read More

The USD Index reversed in a quite clear way on Friday and gold rallied. It looked like a great bullish combination for the precious metals sector, but was it really one? Gold moved higher on volume that was the lowest since the beginning of the year and this means that Friday's rally shouldn't be taken at its face value, but instead it should be closely inspected. Moreover, silver just did what...Read More

The NY Times is reporting that China won't discuss President Trump's two key trade demands when American diplomats arrive in China for negotiations next weekContinue...Read More

TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12April 30, 2018 It's one of the fundamental principles of the stock market: when interest rates go up, stocks go down. And along with financial companies and cyclicals, technology companies with their sky-high price-to-earnings multiples should be among the biggest losers in an...Read More

Turkish steel producers booked more deep-sea scrap for May at the end of last week, and prices continued to inch upward in trades on Monday April 30.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $352 per tonne and 5,000 tonnes of bonus at $362 per tonne cfr.Another steel mill in the same region booked a Canadian cargo, comprisin...Read More

CLICK ON CHART TO ENLARGEThe 2-pack above looks at Gold & Silver on a "Monthly Basis" over the past 8-years. Both peaked in 2011 and have struggled to move higher ever since.Overhead resistance comes into play for both at (1). During the month of April, both attempted to break above these important resistance lines, only to see buying pressure dry up and sellers step in. At months end, both coul...Read More

By Jordan Roy-Byrne CMT, MFTA It was music to gold bug ears. We've all heard the seemingly shocking or outrageous price targets for Gold. So it's not new. But this time from a non gold pusher. Someone with credibility in the larger financial world and a track record to boot. Gundlach's comment was included in every piece of Gold literature that recently crossed my desk. No doubt, if Gold s...Read More

Turkish domestic auto bundle scrap prices have gone up in line with imported scrap prices while ship scrap prices have remained stable over the past week, sources said on Monday April 30.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) in Turkey was TRY1,370-1,500 ($339-372) per tonne delivered, narrowing upward from last week's TRY1,270-1,500 per tonne.This...Read More