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
The Monday Market Minute Global stocks surge as White House says U.S. and China reach 90-day truce on tariffs, Beijing says "important consensus" reached on trade at G20 summit in Argentina.Oil rises more than 5% on news that OPEC will pursue 2019 production cuts at this week's meeting in Vienna, while U.S.-China trade breakthrough boosts bullish sentiment in beaten-down commodities.Europea...Read More
Export prices for flat steel products from the Commonwealth of Independent States continued to decrease in the week ended Monday December 3 under pressure from weak global demand.The rebound seen in the Chinese domestic hot-rolled coil (HRC) price on Monday may support the global market, however.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $460-475 per tonne fob Black Sea...Read More
* Trump and Xi agree on 90-day trade truce to negotiate * Palladium hovers below record highs hit on Friday * GRAPHIC-2018 asset returns: (Updates prices)By Swati VermaBENGALURU, Dec 3 (Reuters) - Gold climbed to its highest innearly a month on Monday as the dollar weakened after the UnitedStates and China agreed a temporary truce in their trade war.Spot gold was up 0.8 percent at $1,231.25 an oun...Read More
Updated - Bear market forces are building according market historian Bob Hoye from ChartsandMarkets.com. In his latest interview with Jim Goddard, Hoye points out that the world stocks outside of the US hit their highs in January, the month after the bitcoin bubble blew out. Those peaks foreshadowed the setup for a potential bear market in stocks.Click to listen to Bob Hoye's November 30th broadc...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index slid as far as 1059.22 for a 25 point decline before fighting back strongly, to finish the week down just 5 points at a close of 1077.52.MACD rose strongly, gaining 3.6 points to finish in the black at 0.63. RSI gained 14% or 4 points to close at...Read More
Chinese hot-rolled coil prices surged on Monday December 3 after the United States and China agreed to a truce to their trade war over the weekend, although there are doubts about the sustainability of the uptrend due to weak demand.DomesticEastern China (Shanghai): 3,690-3,730 yuan ($530-536) per tonne, up 100-120 yuan per tonneNorthern China (Tianjin): 3,620-3,650 yuan per tonne, up 150-170 yuan...Read More
China's ferrous futures continued to experience a weak first half of the day, with contracts slumping across the board during morning trading on Monday December 3 despite news of a 90-day reprieve for trade tariffs between the country and the United States.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,327 yuan ($465) per tonne, down 99 yuan per tonneMay hot-rolled...Read More
US domestic merchant bar prices remain flat due to steady market conditions, along with import prices, even though sales and purchases of material from Mexico and Taiwan have been reported in the US South and Southwest. But a rise could loom for January, sources said.Fastmarkets AMM assessed domestic 2- x 2- x 1/4-in angle merchant bar at $38.05 per hundredweight ($761 per short ton) fob mill ...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: wire rodWire rodRussia, export, wire rod, traded at $508-509...Read More
Import prices for rebar in Singapore softened further over the past week with the supply of Chinese products remaining ample.Fastmarkets MB's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $500 per tonne cfr for the week to Monday December 3, down $10-20 per tonne from $510-520 per tonne cfr a week ear...Read More
The Turkish steel producers have started another working week without any deep-sea bookings due to the uncertainty in the market and sluggish demand for finished steel goods, sources said on Monday December 3.A number of market participants reported various offers and bids at the beginning of the week, but no transactions were completed, Fastmarkets was told.Some sources said that offers from supp...Read More
The new 65% Fe iron ore derivatives launched by the Singapore Exchange (SGX) have registered 150,000 tonnes of cleared trades on their first day of trading, the exchange said on Monday December 3. Launched in response to calls for more efficient risk-management tools in the steelmaking raw materials market, and settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB, the SGX...Read More
CloseGain/LossGold $1230.80+$9.10Silver$14.37+$0.20XAU65.84+2.14%HUI148.35+2.29%GDM540.63+1.67%JSE Gold1104.90+6.09USD97.01-0.18Euro133.48+0.28Yen88.07-0.14Oil$52.95+$2.0210-Year2.984%-0.018T-Bond141.3125+0.15625Dow25826.43+1.13%Nasdaq7441.51+1.51%S&P2790.37+1.09% The Metals: Gold gained $13.10 to $1234.80 by late morning in New York before it drifted back lower into the...Read More
A Monday Morning Musing from Mickey the Mercenary GeologistContact@MercenaryGeologist.comDecember 3, 2018 Along with many in the natural resource business, I read Ian Telfer's dire prediction for world gold production in a May 16, 2018 interview with Canada's Financial Post with interest. Here's an excerpt: "Are we not looking for it? Are we bad at finding it? Or have we found it all? My answe...Read More
By Clint SiegnerJPMorgan Chase and a number of other bullion banks are in a whole lot of trouble. Evidence detailing years of rigging markets and swindling clients is piling up.Deutsche Bank pleaded guilty two years ago and forked over hundreds of thousands of documents. John Edmonds, a former JPMorgan trader, entered his own guilty plea last month and turned state's evidence.The carefully culti...Read More
By Dave KranzlerThe market is already fading quickly from the turbo-boost it was given by the announcement that China and Trump reached a "truce" on Trump's Trade War - whatever "truce" means. Last week the stock market opened red or deeply red on several days, only to be saved by a combination of the repetitious good cop/bad cop routine between Trump and Kudlow with regard to the potential...Read More
Featured GuestsPeter Schiff & Bob HoyeShow HighlightsPeter Schiff, head of SchiffGold, Euro Pacific Capital, and Euro Pacific Gold Fund (EPGFX) joins the show from his vacation office in tropical Crypto-Rico, where air conditioning service, not heating is the chief concern today. Key takeaway - gold is building a base that will likely culminate in new record prices, from $2,000 - $5,000 and unde...Read More
TSX Venture Exchange (TSX-V): GRGFrankfurt Stock Exchange (FSE): G6A OTCQB Venture Market (OTCQB): GARWFVANCOUVER , Dec. 3, 2018 /CNW/ - Golden Arrow Resources Corporation (TSX-V: GRG, FSE: GAC, OTCQB: GARWF), "Golden Arrow" or the "Company" is pleased to announce that the Company's joint venture partner in Puna Operations Inc., ("Puna") has declared commercial production at the Chinchillas si...Read More
By Frank HolmesStrengthsThe best performing metal this week was palladium, up 5.38 percent as hedge funds boosted their net long positon to a nine-month high. Gold traders and analysts are bullish for the third week in a row, according to the weekly Bloomberg survey. Mark O'Byrne, research director at GoldCore, said "the set up for gold is getting better and better and it looks set for a strong...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12December 3, 2018"Buy when you are scared to death; sell when you are tickled to death." market maxim (Cabot Market Letter, April 12, 2001) "There's nothing wrong with cash. It gives you time to think." Robert Prechter, Jr. (Elliott Wave theorist...Read More