China's ferrous futures retreated during morning trading on Thursday December 27, that despite opening about 1-2% above Wednesday's settlement levels.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,410 yuan ($495) per tonne, down 54 yuan per tonne May hot rolled coil: 3,322 yuan per tonne, down 77 yuan per tonneDalian Commodity Exchange May iron ore: 488 yuan per to...Read More
Some participants have started to bet China's export hot-rolled coil prices will drop following declines in the domestic market amid sparse trading on Thursday December 27.DomesticEastern China (Shanghai): 3,700-3,730 yuan ($537-541) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,640-3,660 yuan per tonne, widening downward 10 yuan per tonneAlthough prices in Shanghai&n...Read More
China's domestic rebar prices increased slightly on Thursday December 27 on early futures gains, while export prices decreased slightly. Domestic Eastern China (Shanghai): 3,760-3,800 yuan ($545-551) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,630-3,670 yuan per tonne, up 20 yuan per tonneRebar futures opened up on Thursday morning amid the higher openings on the dome...Read More
The Chinese antimony market showed signs of softening in the week ended Wednesday December 26 after some domestic suppliers began to cut their offer prices in an attempt to entice buyers to do business and generate cash before the end of the year.Fastmarkets' price quotation for MMTA standard grade-II antimony, delivered duty-paid in China, stood at 49,000-49,500 yuan ($7,108-7,180) per tonne on D...Read More
Import prices for stainless steel in East Asia moved up over the past week in the absence of low offers from certain mills, although trading activity remained muted amid soft demand due to the year-end holiday season.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,900-1,960 per tonne cif for the week ended Wednesday December 26, up $30-40...Read More
China's domestic stainless steel prices widened lower over the past week due to inactive trading ahead of the year-end.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-14,800 yuan ($2,060-2,147) per tonne including VAT for the week ended Wednesday December 26, against 14,300-14,800 yuan per tonne from a week...Read More
Weary investors who endured the September and October stock market "crash season" felt they should be richly rewarded for their incredible patience... with a wondrous Santa Claus rallyPlease click here now. The traditional Santa Claus rally has morphed into a hideous Santa Claws mauling of millions of US stock market price chasers. It's a gruesome sight. The good news, clearly, is that my p...Read More
As we come towards the end of 2018, followers of gold stocks such as Barrick Gold (TSX:ABX)(NYSE:ABX) will no doubt be wondering whether precious metals prices will continue their slow ascension into next year and whether the largest miner in the world remains a solid investment option, or if a defensive stock investment would be preferable at this juncture.Let's talk a bit about Barrick and the p...Read More
It has been over 10 years since the global financial crisis - the worst recession since the Great Depression. The crisis was triggered by a U.S. housing market collapse that turned into a rout and spread like wildfire through a series of major financial institutions, because of the widespread ownership of collateralized mortgage backed debt securities.The calamity brought the U.S. financial system...Read More
Weary investors who endured the September and October stock market "crash season" felt they should be richly rewarded for their incredible patience... with a wondrous Santa Claus rallyPlease click here now. The traditional Santa Claus rally has morphed into a hideous Santa Claws mauling of millions of US stock market price chasers. It's a gruesome sight. The good news, clearly, is that my p...Read More
Defiance, ValOro advance on merger updateDefiance Silver Corp. [DEF-TSXV], and ValOro Resources Inc. [VRO-TSXV] said Friday December 28 that they expect to complete a previously announced merger on December 31, 2018. This will result in the creation of a diversified explorer with an advanced portfolio of Mexican silver and gold projects, the companies said.ValOro shares were active on the news,...Read More
A mineralized zone at the Cerro Caliche Project in Sonora sate, Mexico. Source: Sonoro Metals Corp.Sonoro Metals Corp. [SMO-TSXV, SMOFF-OTCQB] shares were active Friday December 28 after the company said it has terminated its option and joint venture agreement with Northern Empire Resources Corp. regarding the Hilltop gold project in Alaska. No expenditures were incurred by Sonoro on the Hilltop...Read More
CloseGain/LossOn WeekGold $1280.00+$5.10+1.95%Silver$15.37+$0.14+5.13%XAU69.68-1.56%+1.47%HUI158.15-1.93%+1.07%GDM579.60-1.28%+1.55%JSE Gold1367.91+0.51+3.88%USD96.38-0.15-0.67%Euro114.47+0.09+0.74%Yen90.84+0.69+0.91%Oil$45.33+$0.72-0.57%10-Year2.719%-0.058-2.30%Bond145.78125+0.25+0.67%Dow23062.40-0.33%+2.75%Nasdaq6584.52+0.08%+3.97%S&P2485.74-0.12%+2.86% The Metals: Gold...Read More
By David Brady, CFALast week, I discussed the Bull and Bear cases for Gold. The stock market sell-off that began on October 3, the associated fall in bond yields, increasing expectations that the Fed would be forced to reverse policy, recent weakness in the dollar, and Gold rising in yuan terms have all contributed to Gold's rally since September 28th. The rise in XAU/CNY, in particular, has fin...Read More
By Gary TanashianIn January of 2018 we noted a cyclical leader (Semiconductor Fab Equipment) in trouble: Semi Canary Still Chirping, But He's Gonna Croak in 2018. We also ran a series of articles featuring the happy-go-lucky 3 Amigos (of the macro) in order to gauge a point when larger herds of investors would become aware of cyclical issues facing the global (including the US) economy. Each Ami...Read More
During the shutdown of the federal government, the Commitments of Traders report will not be published. When the federal government operations return to normal, CFTC will resume publication of the Commitments of Traders report.Read More
By David HaggithPresident Trump wants to blame the Fed Jerome Powell in particular for the stock market's nasty action this fall. If things keep going this badly, you can be sure the Fed chief will want to blame Trump and his treasurer Munchkin for recent tweets that killed Santa Claus and for trade wars and wall wars. Who is right? Who is really killing the stock market?In this round of Tru...Read More
Stock markets are forever cyclical, an endless series of alternating bulls and bears. And after one of the greatest bulls in US history, odds are a young bear is now gathering steam. It is being fueled by record Fed tightening, bubble valuations, trade wars, and mounting political turmoil. Bears are dangerous events driving catastrophic losses for buy-and-hold investors. Different strate...Read More
HighlightsBob Hoye of Institutional Advisors, and the host discuss the worst US stock market plunge in over 100 years, the "Mnuchin Massacre."The Dow Jones Industrials plunged 1600 points last week, falling 650 further on Monday, recording the worst monthly decline its 122 year history. The equities decline could foment a nascent PMs bull market with the potential to launch gold shares into orbi...Read More
There is a disconnection between paper and physical gold prices and the former has to catch up with the latter eventually. Myth or fact? We invite you to read our today's article about demand for gold coins and bars and find out whether it will save the yellow metal. The best stories are about the conflict between good and evil, or light and dark. In the precious metals market, we also have...Read More