Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...Read More
Steel billet prices retreated further or remained unchanged in most regions during the week to Friday December 21 amid the year-end trading lull and persistent weakness in finished long steel markets.China was the exception, with its domestic prices continuing to edge up on lower supplies.AsiaSoutheast Asia's import prices for steel billet declined slightly amid low bids and minimal deals aft...Read More
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...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
Next report is released on Wednesday. Pre-opening Comments for Monday December 24thU.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade. Investors are responding to partial shutdown of U.S. government services over the weekend. Volumes on equity markets are expected to be low today. U.S. equity markets close at 1:00 PM EST for the Christma...Read More
Bob Moriarty ArchivesDec 24, 2018On January 26th of this year I wrote that sentiment indicators derived from the DSI put out by Jake Bernstein indicated that an even dozen commodities/markets were about to turn. All twelve did. There was not a bit of magic or voodoo involved. I just used information that anyone could have read and come to the same conclusion. That’s why I wrote Nobody Knows...Read More
Please note: US markets are closed tomorrow for Christmas. CloseGain/LossGold $1269.00+$13.50Silver$14.77+$0.15XAU70.55+2.74%HUI161.79+3.40%GDM586.16+2.58%JSE Gold1359.59+42.78USD96.49-0.54Euro114.21+0.58Yen90.68+0.66Oil$42.53-$3.0610-Year2.734%-0.049T-Bond145.40625+0.59375Dow21792.20-2.91%Nasdaq6192.92-2.21%S&P2351.10-2.71% The Metals: Gold gained nearly $10 in Asia before it halved its...Read More
Wall Street didn't take well to the Federal Reserve's latest rate hike and projection for two more to come in 2019.Neither did the White House.President Donald Trump slammed Fed chairman Jerome Powell yet again and reportedly asked advisors within his inner circle whether he has the legal authority to fire Powell.It would be unprecedented for a President to fire a Fed chairman before his term is...Read More
By Frank HolmesSummary:Anticipating trouble ahead, fund managers make a historic rotation out of equities into bonds.Gold and gold mining stocks have been the one bright spot this quarter.Tax reform turns one year old. Has it achieved what was expected?Disregarding strong opposition from the likes of DoubleLine Capital founder Jeffrey Gundlach, legendary hedge fund manager Stanley Druckenmiller,...Read More
By David HaggithMake no mistake about it, there's real fear and panic out there as markets are dislocating to the downside.... But note that on many charts we are showing 2008/2009 like conditions, something that is entirely inconsistent with the earnings and economic data we're still seeing: It's almost as if markets are pricing in a financial crisis that has yet to occur.... I see slowing grow...Read More
Featured GuestsGerald Celente & David MorganHappy Holidays - Merry Xmas!Show HighlightsPart II with Trends Research Institute and Globalnomic(R) Trend Forecaster, Gerald Celente includes 4 key trends.Higher interest rates, oil prices, social unrest and war rate high on the watchlist.The economic recession in the Crimea region could ignite conflict between two powerful former allies, Ukraine and...Read More
By Frank Holmes StrengthsThe best performing metal this week was gold, up 1.39 percent. Gold traders continue to be bullish on the yellow metal amid concerns about economic growth, as measured by the weekly Bloomberg survey. ETFs backed by gold saw holdings increase for 10 days straight, bringing this year's net purchases to 1.47 million ounces, according to data compiled by Bloomberg. Gold sto...Read More
By Keith WeinerWe could also have entitled this essay How to Measure Your Own Capital Destruction. But this headline would not have set expectations correctly. As always, when looking at the phenomenon of a credit-fueled boom, the destruction does not occur when prices crash. It occurs while they're rising. But people don't realize it, then, because rising prices are a lot of fun. They don't rea...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12December 24, 2018"At the end of each year I make a list of my mistakes, and it's pretty friggin long" Dean Lombardi (ice hockey executive, GM San Jose Sharks 1996-2003, GM Los Angeles Kings 2006-2017 "I made no resolutions for the new year. The...Read More
By John MauldinPowell and the New FedLate in the CycleBond BoomPriced to SellA Little NostalgiaWe have reached the best time of year, when we can look to the future with hope. We can stop wondering what will happen in 2018 and look forward to 2019. The investment industry always does this enthusiastically, as you will see in forecasts everywhere the next few weeks.Not wanting to be left out, or...Read More
A Monday Morning Musing from Mickey the Mercenary Geologist Non-renewable natural resources (e.g., industrial metals, precious metals, agricultural minerals, industrial minerals and rocks, energy fluids, and energy solids) are extracted from Earth's surface and its depths. Exploitation of these resources naturally leads to depletion and more must constantly be found, developed, and mined. In ou...Read More
Dear Friend of GATA and Gold:Interviewed Friday by Chris Marcus of Arcadia Economics (https://arcadiaeconomics.com), your secretary/treasurer discussed recent developments in gold and silver market rigging by the U.S. government, its agents, and others. Among them:-- The confession by former JPMorganChase trader John Edmonds; whether he will incriminate the bank's former commodities desk chief,...Read More
By Avi Gilburt I would not have had to invest or work at all if I had $100 for every time I heard an analyst tell me that the market is just not trading upon fundamentals at this time. In fact, when the market seems to disconnect from the fundamentals, analysts view it as the market being wrong. But, isn't it my responsibility as an investor to align my investment account with the market ra...Read More
By David HaggithThis ain't no ballgame. This bear has shown up for blood, not sport. The Nasdaq intraday hit the 20% down mark that is widely regarded as qualifying for a change from a bull market to a bear market. A close at that level would have made it as official as a declaration of a bear market gets.As can be expected, the major index whose stocks played the largest role in forming the bul...Read More
MERRY CHRISTMASThe US government shut down (if any) should be bullish for gold once again. I repeat, other than economics all other factors are ripe for 2019 to be a "gold en" year. There is speculation that Trump may replace the Federal Reserve chief Jeremy Powell. The US dollar will lose its so called safe haven status if there is such a move. The euro and pound and even the Chinese have som...Read More