Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
U.S. stock futures are trading just below fair valueWith earnings dominating the headlines again, Dow Jones Industrial Average (DJI) futures are trading below fair value this morning. Futures on the S&P 500 Index (SPX) are also pointing to a lower open for stocks, as the broad-market index looks set to cool after yesterday's record high. Alphabet's (GOOGL) poorly received earnings update is one re...Read More
SBUX's recent pullback has found supportAt least one analyst is expecting big things from Starbucks Corporation (NASDAQ:SBUX) in the earnings confessional this week. The coffee chain is set to report third-quarter results after the close tomorrow, Oct. 30, and KeyBanc envisions strong same-store sales growth of 5%, above the consensus view of 4.5% growth. The analyst also does not think the U.S.-C...Read More
Traders are dumping capital into the 2x VIX futures tracker as fast as TVIX can burn it upEveryone loves a good underdog story, and Wall Street investors are of course no exception -- but in the case of the VelocityShares Daily 2x VIX Short-Term ETN (NASDAQ:TVIX), some traders are simply taking this trope too far.The exchange-traded note (ETN) is one of those leveraged volatility products that you...Read More
Clint Siegner Americans hated it when the Federal Reserve handed trillions of dollars to crooked Wall Street banks following the 2008 Financial Crisis. Politicians were confronted about the merits of central banking and bailouts.For the first time in history, college students were chanting "End the Fed" at campaign rallies as Ron Paul took the central bank to task during his presidential campaig...Read More
By: Robert LambourneThe Bank for International Settlements has just published its statement of account for September and it indicates that the bank continues to trade gold swaps. The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. But recent swaps remain at much-reduced levels compared to the second half of 2018.There is not enough information in t...Read More
Stewart Thomson 1. The GOAU ETF continues to showcase the most impressive technical action in the entire precious metals ETF sector.2. Please click here now. Double-click to enlarge. A bull wedge breakout with a pickup in volume is in play.3. Gold has been reacting negatively ahead of recent FOMC meetings, and that's the case this week.4. The pullb...Read More
By: Ira Epstein Gold is not trending, gold in a stall area. Momentum has flattened out, Gold hit the upper Bollinger band hit and failed, as expected:Read More
To repeat: AAPL is the only stock we need follow closely to know whether a major top looms for the bull market. The logic is simple: Because Apple is the most valuable company in the world, its shares top institutional investors' must-own list. Furthermore, as long as those who make their living throwing Other People's Money at a dozen or so stocks continue to throw the lion's share of it at AAP...Read More
A new Singapore Steel Forum will kick off for the first time next year as part of Singapore Iron Ore Week (SIOW) 2020.Fastmarkets will drive the forum together with the Singapore Exchange (SGX) and Enterprise Singapore as part of an expanded SIOW, which will be held on May 18-21 2020 at Sands Expo & Convention Centre. The Singapore Steel Forum will be held on May 20 and will include global steelma...Read More
Steel prices are expected to remain stable in the Brazilian domestic market through the remainder of 2019 despite a still favorable import parity, the commercial director for Companhia Sider??rgica Nacional (CSN), Luis Martinez, said on Thursday October 24.While hot-rolled (HRC) and cold-rolled coils (CRC) are currently being sold at a 2% premium over internalized imports, galvanized materials are...Read More
Brazilian iron ore pellet producer Samarco has received a license from a state environmental agency, allowing it to resume operations in its Germano complex, in southeastern Minas Gerais state, on Friday October 25.With the license, issued by the Minas Gerais' state environmental council, Copam, Samarco has secured all environmental permits needed to resume operations, its 50% shareholder Val...Read More
Prices for ferrous scrap in the Mexican markets have shown minor changes in the past week because most steelmakers have concluded their planned price cuts, which has left scrap dealers believing that the market has reached a bottom.In the region around the northern city of Monterrey, most scrap buyers have not made changes to their prices. But one steelmaker outside Monterrey has applied a reducti...Read More
The three-month nickel price on the London Metal Exchange closed higher on Tuesday October 29, with news of the expedited ore ban in Indonesia keeping the metal's price elevated, while lead futures also ended the day higher despite low turnover. Nickel's outright price closed at $16,830 per tonne this afternoon, up from an intraday low of $16,565 per tonne but lower than its daily high of $17,000...Read More
The London Metal Exchange announced this week that industry members will form a committee to represent the views and interests of lithium stakeholders while the exchange plans the launch of a lithium futures contract.The committee is made up of representatives of major lithium producers and consumers: Jaguar Land Rover, Albemarle Corp, Lithium Corp, Pilbara Minerals, Transamine Trading, BASF, Tian...Read More
Falling spot premiums, slow demand and ample supply have cast a bearish pall over the Asian aluminium market this year and market participants told Fastmarkets they believe this will be the case for 2020 too.The primary consumers of aluminium in Asia are Japan and Korea, with the former having annual demand of up to 1.8 million tonnes, and Korea up to 1 million tonnes.But the aluminium market in J...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday October 29 that are worth another look.The decline in Asian hot-rolled coil prices has continued to apply downward pressure on slab prices in the region, sources told Fastmarkets.The copper market is largely shrugging off the positive price effects of supply constraints and is focusing its attention on the negative consequences...Read More
Bearish macroeconomic signals and oversupply have put minor metals and ferro-alloys prices variously under pressure over 2019; the structure and terms of contracts agreed over the coming weeks will show how market participants are accounting for those signals ahead of 2020. A slowing global economy alongside uncertainty over the China-United States trade dispute and Brexit have slowed minor metals...Read More
Electric vehicles (EVs) are forecast to reach cost and functional parity with internal combustion engine (ICE) vehicles by 2025. Theoretically, this should create the global tipping point for mass market EV adoption, along with the development of the associated charging infrastructure required to accompany the growth.In practice, it is not quite as straightforward.A recent report by investment res...Read More
Falling spot premiums, slow demand and ample supply have cast a bearish pall over the Asian aluminium market this year and market participants told Fastmarkets they believe this will be the case for 2020 too.The primary consumers of aluminium in Asia are Japan and Korea, with the former having annual demand of up to 1.8 million tonnes, and Korea up to 1 million tonnes.But the aluminium market in J...Read More
The seasonality pattern for gold has been spot-on this year and silver is off by a week or so. Silver is currently in a window of opportunity where it might...by TraderStef via CrushTheStreet (connect with TraderStef via Twitter or at TraderStef's website)The seasonality pattern for gold has been spot-on this year and silver is off by a week or so. Silver is currently in a window of opportunity wh...Read More