By Steve St. AngeloThe U.S. Government is in serious trouble when interest rates rise. As interest rates rise, so will the amount of money the U.S. Government will have to pay out to service its rapidly rising debt. Unfortunately, interest rates don't have to increase all that much for the government's interest expense to double.According to the TreasuryDirect.gov website, which came back on...Read More
Recently we called the top in gold, silver, miners, and palladium. This was based on several technical indicators including our cycle analysis.Below is a quick snapshot of how we and our members profited from the recent drop in precious metals. Our articles, Technical Trading Mastery book, and 3 Hour Trading Video Course are designed for both traders and investors to explore the tools and tech...Read More
China's domestic rebar prices remained in an upward trend on Friday February 2 amid gains in the billet and futures markets, though trading activity remained thin.Domestic Eastern China (Shanghai): 3,840-3,900 yuan ($610-619) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,920-3,950 yuan per tonne, narrowed upward by 20 yuan per tonneThe gains in the billet and paper markets pushed up s...Read More
- "We have a stock market bubble" warns Greenspan- "Bond bubble will be the big issue" he tells Bloomberg TV (see video)- "Fiscally unstable long-term outlook in which inflation will take hold"- "Ratio of federal debt to GDP which is extraordinarily high" (see chart)- Higher interest rates, inflation and stagflation coming- Gold is the "ultimate insurance policy" - GreenspanSource: US Fundsvia Blo...Read More
European stainless steel base prices have remained unchanged over the past week, with domestic prices under import pressure from cheaper Asian material, sources told Metal Bulletin on Friday February 2.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,120 ($1,320-1,395) per tonne delivered in Northern Europe.Metal Bulletin's weekly b...Read More
There was no clear trend in China's ferrous futures market during morning trading on Friday February 2 after the Hebei provincial government denied that it was planning to extend production cuts for an additional two months.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,947 yuan ($627) per tonne, down 7 yuan per tonne May hot rolled coil: 4,017 yuan per tonne, up 1...Read More
China's domestic stainless steel prices widened upward over the past week on nickel gains in recent days.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-15,500 yuan ($2,303-2,461) per tonne including VAT for the week ended Thursday February 1, widening upward by 300 yuan per tonne from 14,500-15,200 yuan per tonne a week ear...Read More
- CFTC fines UBS, HSBC and Deutsche Bank millions of dollars each for gold price manipulation - Deutsche Bank 'engaged in a scheme to manipulate the price of precious metals futures contracts'- UBS 'attempted to manipulate the price of precious metals futures contracts'- HSBC engaged 'in numerous acts of spoofing with respect to certain futures products in gold and other precious metals'- Gol...Read More
The survey by the London Bullion Market Association of analysts' predictions for the gold price this year suggest a wild ride for bullion after a fairly uneventful 2017.The LBMA, a standards setting body for the industry, says the 34 analysts polled are divided on the paths that precious metal prices will take in 2018:"Opinions differ as to the level of US real interest rates, the likely impact...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Raw materialsIron ore prices ended Friday on the rise after experiencing declines early in the week. Metal Bulletin's 62% Fe Iron Ore Index came to $74.39 per tonne cfr Qingdao, amid gains in the futures and steel markets.Trading activity in the seaborne coking coal market remained thin on Friday, with...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Raw materialsIron ore prices ended Friday on the rise after experiencing declines early in the week. Metal Bulletin's 62% Fe Iron Ore Index came to $74.39 per tonne cfr Qingdao, amid gains in the futures and steel markets.Trading activity in the seaborne coking coal market remained thin on Friday, with...Read More
The market in the United Kingdom for grade-5C ferrous scrap has dropped this week, marking another weekly fall since the price was assessed on January 12, with suppliers cutting their offer prices in line with export demand.The move in the light iron scrap market in the UK follows a fall in trade to key destinations such as Turkey and the Indian subcontinent.The rate of steel scrap exports to Turk...Read More
JOHANNESBURG (miningweekly.com) - Aim-listed diamond mining company BlueRock Diamonds says it has received notice that its former CEO Riaan Visser, and certain companies controlled by him, intend to apply to place the company's operating Kimberley-based subsidiary, Kareevlei Mining, in provisional liquidation. The company has taken legal advice and is of the view that, based on currently...Read More
European stainless steel base prices have remained unchanged over the past week, with domestic prices under import pressure from cheaper Asian material, sources told Metal Bulletin on Friday February 2.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,120 ($1,320-1,395) per tonne delivered in Northern Europe.Metal Bulletin's weekly b...Read More
JOHANNESBURG (miningweekly.com) - ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes and Rosas & Petalas have completed the first sale for 2018 from the Lulo diamond project in Angola, for this year.The sale of 4 170 ct of Lulo diamonds achieved proceeds of $9.14-million, representing an exceptional average price of $2 192/ct.AdvertisementThe latest sale takes tot...Read More
A sparkling future beckons for the coloured gemstones market, avers financial portal Safehaven. It cites commenter Charles Kennedy, who believes that gemstone prices, which have been increasing steadily in the past decade, could continue to increase on the back of surging demand. “The price of emeralds, for example, has increased by 500% since 2010, according to Gemfields plc.”Advertis...Read More
Some coated flat steel prices in Turkey have decreased over the past week, with demand remaining sluggish in the local market but strong in the export markets, sources told Metal Bulletin on Friday February 2.Demand was weak because buyers expect prices to fall, and the weak demand in the hot-rolled coil (HRC) market has had a knock-on effect in the coated coil market.Domestic pricesIn Northern Tu...Read More
The latest metal markets news and price moves to start the North American day on Friday February 2.Base metals prices on the London Metal Exchange were on divergent paths this morning, with nickel failing to hold on to recent gains and the three-month price retreating nearly $200 per tonne. Here's how base metals on the LME looked at 11:56am London time: Read our live futures report here.&nbs...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Friday February 2.Nickel prices on the Shanghai Futures Exchange were the standout performers during Asian morning trading on Friday, benefiting from follow-through strength after a strong performance by the metal on the London Metal Exchange in the previous session as well as supply conce...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsGFG Alliance has been granted full planning permission for a new 400-worker alloy wheel factory next to the Liberty British Aluminium smelter at Fort William, Scotland, the company...Read More