The upcoming Lunar New Year period is expected to dampen demand for steel in Asia, although the extent to which it does so continues to depend on the ongoing winter production cuts in China that are scheduled to last until mid-March this year.The Lunar New Year festival is celebrated in many Asian countries including South Korea, Singapore, Malaysia, Taiwan and Vietnam, which typically declare sho...Read More
Fundamental DevelopmentsIn this New Year's holiday shortened week, the price of gold moved up again, another $16 and silver another 29 cents. Or we should rather say the dollar moved down 0.03mg gold and 0.03 grams silver. It will make those who borrow to short the dollar happy... Let's take a look at the only true picture of the supply and demand fundamentals for the metals. But first, here are...Read More
China's ferrous futures remained in positive territoryat lunchtime close on Tuesday January 9 despite being flat or slightly lower from their opening prices, after the Chinese government announcement of stricter rules on new steel capacity released had led to a spike in futures on Monday afternoon.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,821 ($588) per tonne,...Read More
CloseGain/LossGold $1314.00-$6.00Silver$17.00-$0.12XAU84.95-1.55%HUI192.30-1.33%GDM647.49-1.30%JSE Gold1286.67-32.45USD92.51+0.17Euro119.39-0.28Yen88.88+0.41Oil$62.96+$1.2310-Year2.548%+0.069T-Bond150.21875-1.50Dow25385.80+0.41%Nasdaq7163.58+0.09%S&P2751.29+0.13% The Metals: Gold fell $11 to $1309 in midmorning New York trade before it bounced back higher into the close, but it still ended...Read More
By Jordan Roy-Byrne CMT, MFTA The rally in Gold and gold mining stocks easily surpassed our expectations and targets. The strength has been far more than we anticipated. The gold stocks blew past their 200-day moving averages while Gold blew past $1300/oz. Now it is time to take a technical look and focus on the key support and resistance targets. The strength of the rebound pushed the miners...Read More
Graceland Updates By Stewart Thomson 1. I told subscribers to expect $1320 to function as a headwind for gold on this rally, and that's happening right on schedule. To understand the nature of this headwind, please click here now. Double-click to enlarge this important weekly gold chart.2. Note that the two biggest volume bars both occurred as key events in India occurred. It...Read More
By Clint SiegnerGold and silver premiums have been following the demand for physical metal lower in recent months. As investor selling ticked up, popular bullion products poured back into dealer inventories. The result has been some of the lowest premiums we've seen in a decade for items like gold and silver American Eagles.The "premium" is the amount over the market price for gold or silver com...Read More
The steel industries in Europe and Turkey will continue to grapple with elevated costs for graphite electrodes in 2018 despite some easing of prices in recent months.Graphite electrode prices reached $22,000-40,000 per tonne cfr Turkey in 2017, compared with $2,000 per tonne cfr Turkey in 2016, according to market sources.This massive price rise has had significant consequences for the steel indus...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
By Gary SavageJoin me in a look at the long term trends that are currently reversing in gold, silver, dollar, euro and the yen.https://blog.smartmoneytrackerpremium.com/ Read More
Fund Manager David Kranzler tells Silver Doctors the economy is headed for collapse.Kranzler sees a major red flag in the stock market. Bullish sentiment of investors is extremely high. Historically, this signals a market top. Also, he explains why sub-prime auto loans are headed for collapse.As for the precious metal markets, gold and silver have risen for a month, and Kranzler says we are headed...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12January 8, 2018 "I would say Happy New Year but it's not happy; it's exactly the same as last year except colder." Robert ClarkWelcome to 2018. So far it looks the same as 2017. The President of the United States ended the old year and began the one with a barrage of tweets,...Read More
Catherine talks about her own breakaway from the corrupted system, and her work now at www.solari.com where she is helping people to understand our system, and move towards a more symbiotic one, based on empathy, morals, truth and co operation.Catherine Austin Fitts is a former Wall Street investment banker, macroeconomic expert and publisher of The Solari Report https://solari.com/.Read More
By Frank HolmesThe price of gold and gold mining stocks were very competitive in 2017. The yellow metal ended the year up a little more than 13 percent its best year since 2010 while gold stocks, as measured by the NYSE Arca Gold Miners Index, gained more than 11 percent. All of this occurred even as large-cap stocks regularly closed at all-time highs and cryptocurrencies invited massive specula...Read More
The World is $233 Trillion In Debt: It's Time to Rebalance To Gold- Record level global debt level hit $233 trillion in Q3 2017- World's per capita debt now more than $30,000- UK personal debts climbed to the highest level since credit crunch, reaching more than ?200bn- US consumer credit highest jump in 2 years by 8.8% in November to $3.83 trillion- BofE warn UK banks could incur ?30bn of losse...Read More
Dutch wire products supplier Van Merksteijn is to build a mesh-quality wire rod mill with capacity for 800,000 tonnes per year at the seaport of Eemshaven in the north of the Netherlands, the company confirmed to Metal Bulletin on Tuesday January 9.The company hopes to start production at the mill in 2020, and is expected to use scrap-based electric-arc furnace (EAF) technology."The capacity we're...Read More
Gold and silver will see a sell off if they fail to break key resistances of $1327 and $1740. Copper needs to trade over $318.40 for the rest of the week to prevent a sell off. Crude oil looks headed for $65.00. Crypto currency volatility (I will not call it a sell off) should be positive for bullion. Chinese demand will zoom in bullion before their New Year next month. Chinese buyers will be us...Read More
Turkish steel mills continued their February bookings of scrap imports from the Baltic Sea region on Tuesday January 9, with the United States market still quiet because of the heavy winter conditions.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $374 per tonne, 5,000 tonnes of bonus at $384 per tonne and 1,000 tonnes of...Read More
Metal Bulletin has today discontinued its index for CFR China 60% Fe Iranian Iron Ore Fines.After a consultation period, Metal Bulletin has suspended its weekly Iranian Iron Ore Fines Index, which was published every Wednesday.The MBIOI-IR Index was launched in October 2015 after a period...Read More
Maybe.Since central banks began their B.S. back in 2001, when the Bank of Japan first began Quantitative Easing efforts, I've warned that it wouldn't be enough... that none of Continue...Read More