Physical iron ore prices fell backward on Wednesday July 17 amid losses in the futures market, after the Dalian Commodity Exchange (DCE) increased the cost of trading.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.27 per tonne, down by $0.88 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.19 per tonne, down by $0.88 per tonne.Fastmarkets' in...Read More
The price for rebar produced and delivered in Southern Europe has widened upward by ?,?5 ($6) per tonne week on week, with Italian mills intending to raise prices before the traditional August holiday period, sources told Fastmarkets on Wednesday July 17.Market activity remains low and buyers remain generally reluctant to commit to volumes, market participants said.Fastmarkets' weekly price assess...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on Wednesday July 17, because of the sluggish finished steel demand, sources told Fastmarkets.After booking a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20), the mills have stayed out of the market despite still needing to buy more cargoes for August deliveries."The steel producers in Turkey need to buy scrap for August...Read More
Iranian steel billet and slab prices increased again in the week to Wednesday July 17 after customers in Asia made several bookings.Fastmarkets weekly price assessment for steel billet index export, fob Black Sea, CIS, $/tonne, was $382-394 per tonne fob on Wednesday July 17, widening from $385-390 per tonne fob.Some 50,000 tonnes of Iranian steel...Read More
China's domestic rebar prices maintained their upward momentum on Wednesday July 17 amid rising futures. Domestic Eastern China (Shanghai): 3,980-4,010 yuan ($579-583) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,900-3,930 yuan per tonne, up 10 yuan per tonneSome buyers raised their procurement rates to replenish their inventories on seeing the gains in the futures market.End users m...Read More
- Stefan GleasonPresident Trump moved recently to nominate an avowed sound money advocate, Judy Shelton, to the Federal Reserve Board. That triggered a flurry of superficial and derisive references in the controlled media to Shelton's past support of a gold standard.For example, CBS News described her as "a believer in the return to the gold standard, a money policy abandoned by the U.S. in...Read More
By: Ira EpsteinGold bias is up, daily chart shows a congestion period trying to figure out what to do next, just at the 18-DMA support. Volatility has come out of the market:Read More
By: Gary SavageLots of currency intervention going on. Be careful with gold short-term:http://blog.smartmoneytrackerpremium.comRead More
One of the real reasons for Charles Evans, Powell, etc talking about a rate cut is Trump and the Fed don't want the US Dollar too strong when the ECB is trying to drastically weaken the Euro. Fed watches both Dollar Indexes. Not just one. Which makes things very difficult for the Fed to manage the US Dollar because they have to walk a tight rope trying to manage both. Jason Burack is an investor,...Read More
Macroeconomic analyst Rob Kirby lays out what is coming and says, "When the dollars start coming home, there will be inflation. We have seen the rejection of U.S. debt, but the dollars are being recycled into other things like Bitcoin and equities. There is going to come a point where the dollars are going to come home to America, and people are going to start demanding real stuff. . . . I can env...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
On the heels of gold's breakout from a six-year trading channel, many sound money advocates have been wondering why silver remains in the doldrums. What we're not being told is that a new analysis of the COMEX Commitment of Traders (COT) report in combination with published London Gold Futures data reveals that a massive long silver futures position has been established by perhaps the largest buye...Read More
Facebook gets deservedly bad press, and yet the stock is rapidly approaching record highs. The latest headline suggests the company's planned foray into cryptocurrencies will be stillborn. Trump's administration has cited national security concerns, but the real story is that no one trusts Zuckerberg any longer. Every time he gets caught violating users' privacy in some appalling new way, he off...Read More
"We care deeply about them, that we're supportive of the Iranian people, that we understand that the revolutionary theocracy is not acting in a way that isContinue...Read More
Elon Musk finally admitted late Tuesday that Neurolink's (Musk's brain-machine interface startup) official goal is to eventually merge human brains with artificial intelligence. Continue...Read More
I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one's portfolio. Continue...Read More
Trump has had it! He is apparently declaring a currency war on the rest of the world. Trump resents China and Europe cheapening the yuan and the euro against the dollar Continue...Read More
Our confidential sources are reporting that the Fed, ECB, and BoJ have agreed to lobby politicians in an attempt to warn them that they cannot continue propping up the Continue...Read More
Artificial intelligence will soon get to decide what human beings are injecting into their bodies. AI has now developed its first drug, and it's a flu vaccine.Continue...Read More
"The magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.," the Realtors' chief economist says.Continue...Read More