The latest metal markets news and price moves to start the North American day on Friday November 2. Base metals prices on the London Metal Exchange were all higher during morning trading on Friday November 2, after the largest single-day inflow in LME copper stocks since February 2004.The three-month copper price climbed more than 1.5% to more than $6,200 per tonne after around 47,700 to...Read More
ArcelorMittal received a binding offer from international metals group Liberty House for the sale of finishing lines in Dudelange, Luxembourg, and Li??ge, Belgium, ArcelorMittal said on Friday November 2.The Dudelange site has capacity of 970,000 tonnes per year of hot-dipped galvanized flat steel products, according to Fastmarkets' company database.The finishing operations at ArcelorMittal Li??ge...Read More
The slides for this presentation can be viewed here:http://gata.org/files/GATA-NOLA-2018-PPT-PDF-11-1-2018.pdf* * *SLIDE 1 -- TITLERemarks by Chris PowellSecretary/Treasurer, Gold Anti-Trust Action Committee Inc.New Orleans Investment ConferenceFriday, November 2, 2018Since we met at this conference last year much new evidence of manipulation of the gold market by central banks and their bullion...Read More
By John MauldinZombies and UnicornsMissing InvestmentThe Deficit and Debt Drag on the EconomySwimming in LiquidityWork Your IRA Like a MuleGermany, Georgia, and ThanksgivingBut, like Cinderella at the ball, you must heed one warning or everything will turn into pumpkins and mice: Mr. Market is there to serve you, not to guide you. It is his pocketbook, not his wisdom, that you will find useful....Read More
Hedge fund managers sit at the top of the financial world's food chain. They're generally seen as the smartest money managers, and their companies have the most flexibility to pursue new opportunities. The result is supposed to be the best possible returns - for clients who can afford the high fees.But lately things haven't worked out that way. Hedge fund managers appear baffled by the behavior...Read More
By Gary TanashianIt's an over obsessed upon commodity, previously hyped for its (Hubbert's) "peak" status by "experts" like T Boone Pickens and a whole clown show of promoters amplified by the media at the time.Now WTI Crude Oil has reached a thick resistance zone (as managed in NFTRH for the last couple of years) and may be breaking down from a peak of a whole other kind. Here is the monthly ch...Read More
Sadly, most of us will outlive our savings By Adam TaggartThe concept of 'retirement', of enjoying decades of work-free leisure in your golden years, is a relatively new construct. It's only been around for a few generations.In fact, the current version of the relaxed, golfing/RV-touring/country club retirement lifestyle only came into being in the post-WW2 boom era -- as Social Security, corpor...Read More
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Dear Friend of GATA and Gold:Writing in the October edition of The Alchemist, the magazine of the London Bullion Market Association, former French central bank official Isabelle Strauss-Kahn acknowledges that central bank officials notice and are sensitive to complaints that they are manipulating the gold market. She also claims that central bank operations in the gold market have become more tr...Read More
NEW DELHI, Nov 3 (Reuters) - India's Reliance Communications Ltd RLCM.NS posted a sharp rise in its quarterly profit on Saturday, as it recorded a one-time gain.Net profit for the July-September quarter came in at 67.98 billion rupees ($939 million), compared to a profit of 420 million rupees a year earlier.Revenue from operations fell 41.7 percent to 3.34 billion rupees.The company said earlier...Read More
(Updates through close of U.S. trading)By David RandallNEW YORK, Nov 2 (Reuters) - Concerns that a trade deal between the United States and China may not be imminent reined in a rally in world equity markets and reversed gains on Wall Street on Friday, while strong U.S. wage growth boosted U.S. bond yields.Markets had earlier climbed on hopes that the world's two biggest economies were mending the...Read More
(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in an Eikon news window)* Apple falls on forecast; market cap drops below $1 trln* Trump has not sought draft China trade plan -Kudlow on CNBC* Industrial index ends down 0.3 pct* Indexes down: Dow 0.4 pct, S&P 500 0.6 pct, Nasdaq 1 pct(Updates to close)By Caroline ValetkevitchNEW YORK, Nov 2 (Reuters) - U.S. stocks snapped a...Read More
Technical analyst Clive Maund charts silver and explains why he believes the metal's prospects are changing. Silver continues to be a singularly neglected and unloved investment, and has been for years now, but as we will proceed to see, this is not a situation that is likely to continue for much longer.On its 10-year chart we can see that silver has basically been moving sideways marking out a l...Read More
Technical analyst Clive Maund tracks movements in the platinum, gold and silver markets. It was a very good day for the metals Friday, as they rose sharply in response to the dollar going into reverse after a sizable run-up. A very significant development was that platinum broke out of its Head-and-Shoulders bottom on strong volume, a move which we had expected that marks the start of a bull mark...Read More
Today’s upside price move in gold, already up over $18 (+1.5%), sets up a real potential for a move to near $1300 before the end of November. We have been advising our followers that a strong potential for an upside move in the precious metals markets was likely and that a potential move to above $1300 was in the works prior to the end of 2018. Global economic concerns and the fact tha...Read More
RAPAPORT... US consumers will spend $124.1 billion online this holidayseason, with Cyber Monday set to be the biggest day of the year for e-commerce,according to Adobe Analytics Data. E-commerce sales between November 1 and December 31 willrise 15% over the same period a year ago, while shopping in brick-and-mortarstores will increase 2.7%, Adobe predicted. Cyber Monday (November 26) will be...Read More
RAPAPORT... The Diamond Empowerment Fund (DEF) has launched a proposalcontest aimed at the millennials, promising a free trip toBotswana for the winning couple. The competition - named "Real Stories. Real Diamonds. RealImpact". - aims to educate the public about positive aspects of diamonds, theDEF said last week. Entrants must submit a 60-second video about their proposal storyand what their dia...Read More
RAPAPORT... Firestone Diamonds has recovered a 326-carat, near-gem-qualityrough - the largest diamond the miner has found to date. The company unearthed the stone at its Liqhobong mine inLesotho in October, it reported last week. "[The 326-caratdiamond] provides further evidence of Liqhobong's large-stone potential, and,importantly, the ability of the treatment plant to recover larger stonesintac...Read More
RAPAPORT... US polished-diamond imports rose 16%in August, continuing an upward trend for the year. The August growth reflectedhigher volumes (up 22% to 894,066 carats), with the average price slipping 5%to $2,016 per carat. A higher average price for the first eight months drove a 6% increase in imports for that period.US Diamond Trade Data for August 2018 Millions unless stated otherwiseRead More
RAPAPORT... Birks Group is launching its first Canadian store dedicated toGraff Diamonds jewelry. Birks will open the boutique this month on WestGeorgia Street in downtown Vancouver, solely offering Graff's high-end jewelryand watches, the Canadian retailer said last week. Birks describes itself as Graff's exclusive retailer in Canada,and currently houses the London-based brand's jewelry at...Read More