Michael S. "Mickey" Fulp is a Certified Professional Geologist with over 29 years experience as an exploration geologist searching for economic deposits of base and precious metals, industrial minerals, coal, uranium, and water in North and South America and China. Mickey has worked for junior explorers, major mining companies, private companies, and investors as a consulting economic geologist fo...Read More
OK, so we have a phenomenon here that has taken on historically huge proportions in the era of the Everything Bubble.Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin). In his prior life, he worked in Texas and Oklahom...Read More
Your time to discuss things privately over the phone may be running out. Continue...Read More
In the last few months, proponents of civil asset forfeiture reform have witnessed promising victories.Continue...Read More
Markets popped higher this morning after a weekend of good news: The Donald and Xi Jinping have agreed to a temporary truce in the U.S.-China trade war. The Donald has eased trade Continue...Read More
A major breakdown is in progress for the USDollar index. It has broken its intermediate uptrend which began in April 2018. Eighteen months of official rate hikesContinue...Read More
It is generally, if grudgingly, accepted that the "paper gold" markets - that is, the people trading futures contracts and options - are able to dictate the metal's price and have used this Continue...Read More
The mainstream media was too busy obsessing over Russiagate to notice that, according to an annual Social Security and Medicare Boards of Trustees report, the Social Security trust fund will run out of money by 2035. The trustees also reported that the Medicare Hospital Insurance trust fund will be empty by 2027.The trustees' report is actually optimistic. Social Security is completely funded, and...Read More
Turkish steel producers continued to book more deep-sea scrap cargoes for August shipments, with prices rising further, sources said on Monday July 1.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $293 per tonne and 20,000 tonnes of bonus at $303 per tonne cfr, late on June 28.The same mill also booked a European cargo on Friday, compri...Read More
The bonds carry an annual yield of only 1.132%, yet demand exceeded initial estimates. Continue...Read More
Ten days ago when global bond yields tumbled amid renewed fears that the global economy was headed for a recession, we reported that a record $13 trillion in Continue...Read More
Things heated up in Hong Kong on Monday as protesters in Hong Kong clashed with police Continue...Read More
Gold and Bitcoin have seen some selling pressure over the past couple of days. Gold peaked on Monday and Bitcoin late on Wednesday. The key reversal patterns were unmistakable in both. The metal and the crypto both made recent highs and had dramatic sell offs from the highs.On Monday as it looked like Gold was going to the moon and traded as high as 1442, though it fell apart falling about 3% sinc...Read More
In the process of standardizing the names of its prices, Fastmarkets has found that the unit of measurement on some of its value-in-use iron ore indices was displaying incorrectly.In the four indices listed in the table below, the unit of measure had been listed as US cents per tonne or US dollars per dry metric tonne unit (dmtu). The correct value, to which the indices have now been standardized,...Read More
Point one...Our analysis has indicated that we have been in a positive market (bull market) for gold and some gold stocks since 2015. But it depends on which ones! Some have already moved sharply up but a major move up will come later with more stocks participating as the gold bullion price rises above $1500 and perhaps...Read More
Turkish domestic scrap prices remained largely steady over the past week, sources told Fastmarkets on Monday July 1, with most steel producers keeping their buy prices unchanged. However, domestic scrap prices are expected to recover from this point on, in line with the upturn in the imported scrap values, they added.Only two steel mills have slightly reduced their buy prices - for auto...Read More
Technical analyst Clive Maund discusses why he believes silver is amazingly cheap and a sure sign that a major precious metals sector bull market is starting. We have already been over the reasons why a major precious metals (PM) sector bull market is starting, and remarked on how undervalued silver is compared to gold, and how this is typical at the start of a major sector bull market. But it is...Read More
Technical analyst Clive Maund charts the reasons why the recent gold breakout is genuine. It has been a truly glorious month for gold, and the purpose of this update is to point out firstly that the gold breakout of the past week was genuine and secondly that any short-term reaction back as far as $1,380 or even $1,370 will not negate the breakout instead it should be seized upon as an opportunit...Read More
CIS steel billet producers continued to increase their offer prices for foreign customers on Monday July 1, following the recent surge in import scrap prices in Turkey and iron ore prices in China.This pushed up Fastmarkets' daily CIS export billet index to $420 per tonne fob Black Sea on Monday, against $415 per tonne fob on June 28.Offers of Russian billet were heard in the market within the pri...Read More
Import prices for steel slab in Southeast Asia and East Asia were slightly lower over the week to July 1, although market participants were optimistic that prices were bottoming out amid a recovery in the Chinese flat steel markets and rising raw material costs.Downstream flat steel producers are likely to follow their Chinese counterparts in increasing prices amid the rebound in the Chinese steel...Read More