Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
LONDON (Reuters) - Standard Chartered (STAN.L) is in talks to sell its private equity business to Intermediate Capital Group (ICP.L) (ICG), a source with direct knowledge of the deal said on Monday, as part of a broader disposal of its ‘principal finance’ investment business.StanChart has separately completed the sale of the other half of its principal finance unit, comprising its real...Read More
ISTANBUL (Reuters) - Turkey has initiated a dispute complaint with the World Trade Organisation against additional tariffs imposed by the United States on Turkish steel and aluminum imports, the WTO said on Monday.This month, President Donald Trump said the United States would double tariffs on Turkish metal imports over Turkey's trial on terrorism charges of a U.S. evangelical pastor, Andrew Brun...Read More
VALENCIA, Venezuela (Reuters) - Venezuela on Monday slashed five zeros from prices as part of a broad economic plan that President Nicolas Maduro says will tame hyperinflation but critics call another raft of failed socialist policies that will push the chaotic country deeper into crisis.Streets were quiet and shops were closed due to a national holiday that Maduro decreed for the first day of the...Read More
ANKARA (Reuters) - Iran urged Europe on Monday to speed up efforts to salvage a 2015 nuclear deal between Tehran and major powers that U.S. President Donald Trump abandoned in May, saying French oil group Total has formally pulled out a major gas project.Efforts by the remaining signatories - EU members Britain, France and Germany plus China and Russia - to avoid the agreement’s collapse are...Read More
The export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States softened during the week ended Monday August 20 on low demand in the Middle East-North Africa (Mena) region....Read More
KOROR, Palau (Reuters) - Empty hotel rooms, idle tour boats and shuttered travel agencies reveal widening fissures in the tiny Pacific nation of Palau, which is caught in an escalating diplomatic tug-of-war between China and Taiwan.Late last year, China effectively banned tour groups to the idyllic tropical archipelago, branding it an illegal destination due to its lack of diplomatic status.As Chi...Read More
ANKARA (Reuters) - The U.S. Embassy in the Turkish capital Ankara came under brief gunfire early on Monday but nobody was hurt in the incident, which coincides with increased tensions between the two NATO allies over the trial of a U.S. pastor in Turkey.President Tayyip Erdogan’s spokesman condemned the attack as an attempt “to create chaos” and the Turkish Foreign Ministry said...Read More
BRUSSELS (Reuters) - A slew of austerity measures undertaken by Greece as part of its bailout will lay the basis for the country’s sustainable recovery, European Economics Commissioner Pierre Moscovici said on Monday as Greece exited the last of its three bailouts.Since the debt crisis exploded in early 2010, four successive Greek governments have struggled to stave off bankruptcy, relying o...Read More
China's hot-rolled coil prices surged on Monday August 20, after production cuts led to a pick-up in domestic trading and fewer deals were heard in the export market, sources said....Read More
Major Chinese steel mills raised their crude steel output rates in early August, while their finished steel inventories increased at the same time....Read More
Turkey has requested dispute consultations with the United States at the World Trade Organization (WTO) regarding the doubling of US duties on certain imported steel and aluminium products, the trade group said on Monday August 20."Turkey claims that the measures are inconsistent with a number of provisions of the WTO's Agreement on Safeguards and the General Agreement on Tariffs & Trade [Gatt] 19...Read More
HONG KONG (Reuters) - China needs to beef up its capital markets and broaden financing channels for small and medium enterprises (SMEs) as part of wider efforts to support the corporate sector, Vice Premier Liu He said on Monday."We need to pay close attention in resolving outstanding problems in SMEs," Liu said in comments posted on the cabinet's website www.gov.cn "There is a need to improve c...Read More
CIS export wire rod and rebar prices fell in the week ended Monday August 20 following the crash in the Turkish market that was triggered when the United States doubled to 50% its import duty on Turkey-origin steel imports....Read More
(Reuters) - Online fashion retailer Farfetch plans to float on the New York Stock Exchange, the London-based firm said on Monday, seeking to capitalize on rapid growth in luxury sales on the web.Competition to capture online shoppers has picked up among premium brands in recent years, pitting conglomerates like Louis Vuitton owner LVMH against independent operators as some firms scramble to make u...Read More
CloseGain/LossGold $1190.20+$6.00Silver$14.75-$0.06XAU66.11+0.29%HUI143.06+0.44%GDM524.20+1.01%JSE Gold912.74-18.75USD95.85-0.27Euro113.95-0.47Yen90.98+0.41Oil$66.43+$0.5210-Year2.852%-0.010T-Bond145.50+0.96875Dow25758.69+0.35%Nasdaq7821.01+0.06%S&P2857.05+0.24% The Metals: Gold gained $5.60 to $1189.80 in Asia before it drifted back to $1184.80 it late morning New York t...Read More
By Ira EpsteinGold has record short interest which might mean a bottom is forming.https://www.iraepstein.com/ Read More
A Monday Morning Musing from Mickey the Mercenary GeologistContact@MercenaryGeologist.comAugust 20, 2018 I have long promulgated the idea that the junior exploration sector provides the highest risk / highest reward scenario within the broad category of natural resource stocks. However, some speculators prefer to own senior mining stocks. These people like to think of themselves as investors b...Read More
BERLIN, Aug 20 (Reuters) - German Chancellor Angela Merkel told her Christian Democrats (CDU) at a meeting that she saw no urgent need to offer financial aid for Turkey to ease its currency crisis, the conservative party’s general secretary said on Monday.“She made it clear again that she sees no urgency at the moment for special aid for Turkey,” Annegret Kramp-Karrenbauer told r...Read More
By Frank Holmes Strengths The best performing metal this week was palladium, up 0.52 percent after rallying hard after a six percent drop mid-week, largely on talk of trade tensions easing. Inflation is creeping into the market, which has historically been positive for the price of gold. U.S. consumer sentiment fell to the lowest level in almost a year, according to a University of Michigan re...Read More
Source: Michael Ballanger for Streetwise Reports 08/19/2018 Sector expert Michael Ballanger muses on the potential for a historical reprise of market events of 2015-2016, as well as on how algobots and bankers affect the precious metals markets. -->History doesn't repeat itself but it often rhymes. - Samuel Clemens (Mark Twain)I decided that before I sat down to write the weekly recap and o...Read More