By: IRA EPSTEINGold market -- weekly chart, sideways action galore. Upside momentum lost, higher highs and higher lows is lost:Read More

In contrast to the clear skies outside, a cloud hung over discussions among Indian scrap traders attending the opening session of the annual conference of the Material Recycling Association of India (MRAI) earlier this month in Kochi, southern India.Secretary-general Amar Singh praised the superior air quality in the host city, compared with the metropolises of New Delhi and Mumbai. But delegates...Read More

Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More

Platinum surged to 6-month highs last week on concerns over a supply deficit, meanwhile gold prices fell more than 1% to the lowest level since January, heading for the biggest weekly decline in more than 1-year as the dollar strengthend and global stocks advanced. Oil prices came under pressure last week, down 2% on Friday after weak U.S. manufacturing data overshadowed OPEC-l...Read More

Australia's gold production hit an all-time high of 317 tonnes in 2018, breaking the previous record of 314.5 tonnes, which stood for 21 years, consultancy Surbiton Associates says.In the third quarter that ended Sept. 30, the country's gold output totalled 81 tonnes, making it the third consecutive quarter where it exceeded 80 tonnes, they say in their latest report.The country's gold production...Read More

Gold, silver and mining stocks plunged on Friday and the yellow metal closed the week below the $1,300 barrier. The gold-silver ratio soared once again and it all happened in tune with our expectations, and despite the recent dovish comments from the Fed. And – believe it or not – we have something much more important and exciting about the precious metals sector to tell you today. &nb...Read More

Aluminium's three-month price on the London Metal Exchange was down by more than 2% at the close of trading on Monday March 4, with the broad strength in the US dollar deterring commodity investment.Volumes in both aluminium and copper futures were high over the day's trading, with more than 22,000 lots traded in both by the close. While open interest in aluminium has fallen by over 48,000 positio...Read More

As long time readers know, over the past year or so, we have often pointed out that the macroeconomic drivers of the gold price were not exactly bullishly aligned yet, but seemed to be on the cusp of getting there.Apart from signals we get from market indicators, one would also do well to ponder a number of recent events and their likely impact on gold prices down the road.Despite the fact that go...Read More

Stocks were gaining on Friday, as investors' sentiment improved once again. However, the S&P 500 index remained close the 2,800 resistance level. So is this a topping pattern or just a pause before another leg up?The U.S. stock market indexes gained between 0.4% and 0.8% on Friday, as investors' sentiment improved once again. The S&P 500 index retraced more of its October-December downward...Read More

The Indonesia Commodities & Derivatives Exchange (ICDX) has ended the suspension of key smelter inspector PT Surveyor Indonesia in connection with the launch of its new physical tin contract, which is set to transfer tin exports to bonded warehouses for the first time in the exchange's history, ICDX chief executive officer Lamon Rutten said on Monday March 4. PT Surveyor was ordered to suspend ope...Read More

The stock markets have slumped today. For once, investors have not bought the “close” headlines in reference to US-China trade deal. However, the dollar has remained supported for now, despite US President Donald Trump’s latest criticism of the Fed’s Chairman Jay Powell. As a result, safe-haven gold has not been able to benefit in a meaningful way yet. However, the precious...Read More

The US copper market began the week on weak footing on Monday March 4 despite progress between the United States and China on the trade dispute. The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped by 1.05 cents to $2.9215 per lb. In trade talks, discussions between the US and China could be indicating resolution on the two countries' continued trade...Read More

The Indian government's plans of hitting 300 million tonnes of steel capacity by 2030 sounds overambitious in the current scenario given that output only managed to reach the 101 million tonne mark in 2017 - indicating three-fold (Read More

After suffering for some seven years through to 2015, the world's steelmakers have had cause for cheer over the past couple of years. After some heavy losses and write-downs, they finally appear to have emerged from the wreckage of the global financial crisis. An economic upswing has taken root in most regions of the world, Chinese steel output and export growth has slowed noticeably, and steel pr...Read More

Mike Gleason: It is my privilege now to welcome in Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente is perhaps most well-known trends forecaster in the world and it's always a joy to speak with him. Mr. Celente, thanks for the time again today and welcome back. Gerald Celente: Oh, thanks for having me on, Mike. Mike Gleason: Well, Gerald, the Trends Journal is forecasting...Read More

For a number of years problems at Ilva, the largest steelworks in Europe, have been casting shadow over the performance of the whole Italian steel industry. Will an acquisition of Ilva by a consortium led by ArcelorMittal, now in its final stage, be a game changer for the market?Following multiple reports of environmental and health problems caused by the Taranto plant, in 2013 Ilva was placed und...Read More

China ended steel production in all of the country's illegal induction furnaces by the end of June last year, it ha claimed.Most operators in China are primarily small private mills that use low-quality scrap to produce substandard rebar. This is mixed with grade III (HRB400) rebar and sold at a discount to construction contractors.For a long period, the government had neither a record of nor cont...Read More

China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More

A new high leads to selling.The short-term technical position improved.The long-term picture looks good.Three reasons for higher gold.Turbocharged products on dips.In mid-August 2018, a new high in the dollar index took the price of gold to its lowest price since early 2017 at $1161.40 per ounce. Gold did not stay at that level for long, and by the end of August, the price had recovered to over $1...Read More

Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More