If the current pattern continues to follow the 70s pattern, then the US Dollar index is likely to decline significantly over the coming months and years, while Gold makes new all-time highs.Continue...Read More
Turkish steel producers continued their deep-sea scrap purchases for July shipments at firm prices, pushing this week's volumes to about 250,000 tonnes, sources told Fastmarkets on Friday June 12.A steel mill in the Iskenderun region booked a UK cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $262 per tonne cfr.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of...Read More
The findings indicate the potential for Group Ten Metals to produce the rare platinum group element as a coproduct. Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) announced in a news release that various analyses confirmed potentially significant values of rhodium in multiple target areas at its Stillwater West platinum group elements (PGEs)-nickel-copper-cobalt project in Montana."Our...Read More
The US Dollar index is not a true measure ofvalue of the US dollar. It just tracks an “exchange rate” between the US dollarand a basket of significant fiat currencies.For a true measure of value of the US dollarit is better to look to Gold and Silver. However, there is a relationshipbetween significant Gold rallies and the US Dollar index.Gold has a tendency to rally at a certaintime i...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort263,97255,35946,644110,115353,572420,731455,575Change from Prior Reporting Period -8,2242,1979,6371,461-11,7052,874129Traders19664785453283165 Small Speculators LongShortOpen Interest 54,93020,086475,661 -2,958-213-84 non reportable positionsChange from the previous reporting per...Read More
Gold investment demand remains strong, buoying the yellow metal and its miners' stocks. Investors have continued actively diversifying into gold despite soaring stock markets and weaker summer seasonals. The Fed's extreme money printing fueling these precarious stock-market heights is perilously inflationary, making upping gold portfolio allocations essential. This ongoing capital shift...Read More
By: Gary Savage$SPX well have some sort of re-test of the March's low. Gary Savagehttps://blog.smartmoneytrackerpremium.com/ Read More
By: Ira EpsteinGold is near some key resistance levels, where is the support if it fails to breakout?Read More
The recentjob report is not reliable, but it shows recovery in the US labor market. Thesituation is still bad, but optimism could triumph for now, which is bad forgold. On Friday,the Bureau of Labor Services released the newest edition ofthe Employment Situation Report. The publication shows that the US economy regained 2.5 million jobs inMay, constituting the biggest nonfarm payroll surpris...Read More
Investors dumped paper gold and silver along with stocks, commodities, and most other asset classes in March. The price of silver dropped to $12.02/oz on March 18th and gold bottomed at $1,473/oz.The bullion banks – notorious for their concentrated short positions – might have made a killing. But that isn’t what happened. Some of the most prominent players took massive losses ins...Read More
Firstly, my long standing approach to Silver has been one of buying (accumulating) when the Silver price is cheap to invest to capitalise on long-term Spikes, as the silver price tends to be quite erratic in behaviour, prone to a lot of false signals so Silver can be a difficult market to trade i.e. tends to run stops and sharp movements contrary to the likes of Gold, just as we experienced during...Read More
China's auto output and sales experienced double-digit growth in May amid government efforts to jumpstart the economy after containing the spread of Covid-19 in the country, the China Association of Automobile Manufacturers (CAAM) reported on Thursday.The country produced 2.19 million units of vehicles in May, up by 18.2% from a year earlier. This is also 4% higher than in April.Auto sales totaled...Read More
The proposed changes to existing EU safeguard measures for hot-rolled coil would result in a drop in import volumes and consequently injure independent distribution in Europe, Italian steel distributors' association Assofermet said in a letter to the European Commission (EC).In late May, the EC presented a draft of the new safeguard measures to the World Trade Organization, which will go into effe...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort263,97255,35946,644110,115353,572420,731455,575Change from Prior Reporting Period -8,2242,1979,6371,461-11,7052,874129Traders19664785453283165 Small Speculators LongShortOpen Interest 54,93020,086475,661 -2,958-213-84 non reportable positionsChange from the previous reporting per...Read More
Gold investment demand remains strong, buoying the yellow metal and its miners' stocks. Investors have continued actively diversifying into gold despite soaring stock markets and weaker summer seasonals. The Fed's extreme money printing fueling these precarious stock-market heights is perilously inflationary, making upping gold portfolio allocations essential. This ongoing capital shift...Read More
Gary TanashianBefore updating the status of the gold miner (HUI) correction, let's take a quick review of the Macrocosm, because it's always a good time to be clear on important macro considerations.The graphic makes the following points that are the foundation of the NFTRH view on the right/wrong times to be fundamentally bullish on the gold stock sector. In order of priority, a bullish view...Read More
By: Gary Savage$SPX well have some sort of re-test of the March's low. Gary Savagehttps://blog.smartmoneytrackerpremium.com/ Read More
Chris MarcusThe Federal Reserve held its latest policy meeting on Wednesday, and like usual, they basically said they're going to print an incredibly large amount of money until eternity.Fed chairman Jerome Powell said that he plans to leave interest rates at 0% until at least 2022, although he may as well have meant 3022. Because for the same reasons as has been the case for the past decade, If...Read More
By Robert LambourneGold market activity by the Bank for International Settlements appears to have risen in May to its highest level in more than three years, according to the bank's statement of account for the month:https://www.bis.org/banking/balsheet/statofacc200531.pdfThe data in the May statement indicates that the BIS increased its position in gold swaps and gold-related derivatives by 84...Read More
By: Ira EpsteinGold is near some key resistance levels, where is the support if it fails to breakout?Read More