We're so f***ked!This was the title of an article I wrote last week about the death of the dollar.In that article, I made the argument that, thanks to the continued weaponization of the U.S. dollar, countries around the world are now conspiring to replace the U.S. dollar as the default medium of exchange with something else.This plus the rapidly increasing trade and budget deficits, along with poo...Read More
Domestic prices for heavy steel plate in Southern Europe fell over the past week due to a lack of buying activity, sources told Fastmarkets.Demand is expected to decrease further in August due to seasonal factors such as scheduled maintenances at the mills, they added.Fastmarkets' weekly price assessment for steel, domestic, plate 8-40mm, exw Southern Europe, was ?,?490-510 ($550-572) per tonne ex...Read More
Optimism among China's hot-rolled coil exporters led to them resisting the pressure to lower their prices on Thursday July 18 despite a retreat in the domestic market.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,840-3,860 yuan per tonne, widening downward by 10 yuan per tonneSpot prices weakened across the country with t...Read More
Steel reinforcing bar prices in the United States have fallen to pre-Section 232 levels, with import prices also declining due to fresh offers from Europe. Fastmarkets' price assessment for steel rebar, fob mill US, widened downward to $31.50-32.50 per hundredweight ($630-650 per short ton) on Wednesday July 17 from $32-32.50 per cwt two weeks earlier, with the price also down by 9.9% fr...Read More
The rebar and wire rod prices in Turkey's domestic markets have softened over the past week due to sluggish demand in the slow summer period, sources said on Thursday July 18.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was TRY3,070-3,100 ($538-544) per tonne on Thursday, including 18% VAT, down from last week's TRY3,100-3,130 per tonne.The prices w...Read More
Turkish long steel export prices have gone down slightly over the past week in line with the limited demand for the materials, sources said on Thursday July 18.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey, was $450-460 per tonne on an actual weight basis on July 18, down from last week's $455-465 per tonne.The mills in Turkey have generally re...Read More
Export prices for pig iron from the Commonwealth of Independent States (CIS) increased in deals this week, due to reduced availability, sources told Fastmarkets.Fastmarkets' weekly price assessment for high-manganese pig iron exports, fob main port Black Sea, CIS $/tonne was $340-345 on Thursday July 18, up by $5 per tonne week on week. Several sales were heard done to the United States&...Read More
The Turkish steel mills have broken their recent silence in the deep-sea scrap markets and have accepted higher prices, sources said on Thursday July 18.Despite the falling prices for finished and semi-finished long steel, the Turkish mills agreed to pay higher prices for scrap because of their requirements for August-shipment cargoes.A steel mill in the Marmara region booked a Baltic Sea cargo la...Read More
Physical iron ore prices continued to fall on Thursday July 18 with market participants becoming cautious about rising steel inventories and weaker prices in China.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $119.90 per tonne, down $1.37 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $119.82 per tonne, down $1.37 per tonne. Fastmarkets' index for...Read More
This essay by gold advocate and longtime GATA supporter Willem Middelkoop, author of the 2014 book "The Big Reset," has top position today at the internet site of the Official Monetary and Financial Institutions Forum in London, an organization catering to government and central bank officials around the world. The essay acknowledges the longstanding policy of central banks and particularly the...Read More
By: Ira EpsteinGold remains in this congestion zone. Will it breakout? Fighting a battle..Read More
COLORADO SPRINGS, July 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") reports preliminary production results for the second quarter ended June 30, 2019 of 9,559 ounces of gold, 467,484 ounces of silver and significant base metals. The Company currently maintains its 2019 Oaxaca Mining Unit production outlook and plans to increas...Read More
Expected interest rate cuts by all the central banks is supporting gold at the moment. European central bank is expected to cut interest rates in September. Trade war theme is still there. In short, all the factors are bullish for gold. Investment demand is on the rise with passing of each week. Economic growth news will be the key. Measures (other than interest rate or different forms of quan...Read More
Steel billet prices in Turkey have gone down slightly over the past seven days due to weak demand and a downturn in finished steel prices, sources said on Thursday July 18.The mills in Turkey were showing no interest in billet imports because of the sluggish sales of finished steel this week.Suppliers in the Commonwealth of Independent States (CIS) lowered their offers to $435-440 per tonne cfr Tu...Read More
If the next global recession is approaching, is it time to turn to gold? That's the case that noted trader Greg Weldon makes. Weldon believes that central banks' response to the potential downturn will create very bullish conditions for gold prices. Weldon also provides his commentary on emerging markets and on commodities more broadly. Filmed on July 12, 2019 in Jupiter, Florida. Gregory Weldon i...Read More
Topics include:- Has the cartel lost control of the gold & silver markets?- What are the fundamental and technical drivers of gold and silver right now?- How are the markets manipulated, and are we close to the end of the manipulation?- What are we to make of all the President's Tweets about "pumping money"?- What is Craig's outlook for silver over the next couple of months?Known primarily by his...Read More
Danielle DiMartino Booth is a former advisor to The Federal Reserve Bank of Dallas. In this episode of "Ask The Expert", she answers questions about the U.S. dollar, the U.S. economy and the recent shift in Federal Reserve policy.Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, L...Read More
"It is both timely and necessary to make the environment of City Hall and the language of city legislation consistent with the principles of inclusion.Continue...Read More
According to President Trump, "I was not happy with it" I "would certainly try" to stop the chant if it happened again. Continue...Read More