A Monday Morning Musing from Mickey the Mercenary GeologistContact@MercenaryGeologist.comApril 9, 2018 This is no April Fools' joke, folks: Trump's tweets and threats on trade tariffs are treating us to tremendous turmoil in the financial sector. Some investors are visibly nervous given the recent downturn and a doubling of market volatility. However, let's put some levity on the current situa...Read More
The trade wars are coming to Walmart near you, or are they? Another example of the Art of the Deal. There will never be a trade war. This is just pure posturing. So be merry and buy some electronics, everything will be fine. Remember the cycles create the news, not the opposite. When in doubt, count your Bitcoin, or what's left of it anyway. The only thing to fear is bankruptcy, and even that isn'...Read More
By Frank HolmesStrengths? The best performing metal this week was gold, up 0.62 percent. Gold posted its third quarterly gain last quarter, for the longest run since 2011, according to Bloomberg. The weekly Bloomberg survey of trader sentiment showed that most gold traders were neutral this week, while last week they were bearish on the yellow metal. The Perth Mint released sales...Read More
SHANGHAI, Apr 9 (SMM) – This is a roundup of global macroeconomic news last week and what is expected today.Last weekThe US dollar closed at 90.12 on Friday April 6, up 0.25% over the week. LME metals fell across the board on Friday except for aluminium, which was up over 3% inventory dropped for the first time in over nine months. Copper edged down close to 1%. Zinc and tin fell over 1...Read More
Brazilian imports of long steel products increased by 6.86% year-on-year in March 2018, with higher shipments from Turkey and South Korea.Imports of non-alloyed long steel products amounted to 20,349 tonnes during the month, against 19,043 tonnes in the corresponding period a year earlier, according to figures released...Read More
When I played pro hockey in Richmond, Virgina, it was during the era of "Slapshot!" and the Broad Street Bullies when gooning (fighting) was fashionable and an integral part of the sport. Stocking your team with two-or three enforcers meant that the finesse players could sail around the ice doing pirouettes and triple axles and dipsy-doodles without the fear of some 250-lb lumberjack from northern...Read More
"All of the companies in the Russell 2000 that used to pay 31% corporate tax rate now pay 21%, so the cash flows are going to increase dramatically, not just this quarter, for the next two years." Kevin O'Leary is a Canadian businessman, investor, and television personality. From his basement, he launched SoftKey Software Products and In 1999 Kevin sold his company to the Mattel Toy Company for a...Read More
- Gold outperforming stocks in 2018 and this century (see chart)- Gold up close to 2% in 2018 while S&P 500 is down 2%- Trump trade wars and Kudlow as Trump chief economic advisor is gold bullish- Given gold's performance, Kudlow's dismissal of gold as "end of the world insurance" is "irrational"- Market volatility could drive gold to $1,500/oz in 2018 - HolmesAuthored by Frank Holmes of US Funds...Read More
"But just when silver is universally left for dead, one of its massive uplegs or bull markets suddenly ignites. Some catalyst, typically a major..."by Adam Hamilton of Zeal LLCSilver has been dead money over the past year or so, relentlessly grinding sideways to lower. That weak price action has naturally left this classic alternative investment deeply out of favor. Silver is extremely under...Read More
CIS export rebar and wire rod prices became firmer in the week ended Monday April 9 because the availability of the products, as well as the semi-finished products used to make them, was reduced by recent strong sales.This was despite the continuing downward trend in the global long steel markets, most notably in Turkey and China.The CIS region's major long-steel supplier, ArcelorMittal, was offer...Read More
By Nicholas LePan, GoldSeek.com The town of Oatman, Arizona sits in the middle of region that has a long history of gold mining, having produced ~2 million ounces of gold over its history. Northern Vertex (TSX-V: NEE) is the latest company that has explored, defined a resource, started operations and will be looking for more at its Moss Mine. Goldseek came down for a very special moment in...Read More
By Jordan Roy-Byrne CMT, MFTA Readers know that I have beaten this drum all too often. Gold's major fundamental driver is declining or negative real rates. There is a strong inverse correlation because Gold is money. That's what JP Morgan said and he's far more qualified to understand than quotable celebrities like Mark Cuban. But I digress. When real rates are increasing or strongly positive (...Read More
As everyone seems glued to their twitter accounts or their news feeds, the market has been both rallying and fading despite all the negative news of these trade wars that are supposedly going to tank our equity market.I mean, it's not like we began this correction well before trade wars began in earnest. Right? In fact, does any of this surprise you in any way, especially since the President certa...Read More
With the massive spec net short in silver combined with the commercial net long, the coming rally could literally be spectacular. Here's why...by Craig Hemke of TF Metals ReportWith the open interest in Comex silver blowing out to a new alltime high yesterday, we thought it best to discuss again what this indicates and what it doesn't.As of yesterday's Comex close, the total open interest in Comex...Read More
Source: Jack Chan for Streetwise Reports 04/09/2018 Technical analyst Jack Chan updates the gold and silver charts and finds buy signals for both gold and silver. -->Our proprietary cycle indicator is up.Gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.Gold sector is on a short-term buy signal....Read More
The safeguard investigation by the European Commission (EC) into steel product imports is likely to result in quotas being applied instead of tariffs, according to the International Rebar Producers & Exporters Association (Irepas)."The likelihood of ending up with more safeguard measures, as happened in 2002, is very high," Irepas said late last week. "The EU will probably apply quotas instead of...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12April 9, 2018"Too many people spend money they earned...to buy things they don't want...to impress people that they don't like." Will Rogers "Everybody needs money. That's why they call it money." Danny DeVito (as Mickey Bergman - Heist (2001); writer, David Mamet) With all o...Read More
The F.B.I. raided office of President Trump's longtime personal lawyer, Michael D. Cohen, on Monday seizing records related to several topicsContinue...Read More
The Turkish steel mills went quiet again in the deep-sea scrap markets at the beginning of this week, but they are still expected to book more scrap for May, sources said on Monday April 9.After booking a number of deep-sea cargoes in the past week, the mills stepped back from the market on April 6.But market participants expected more cargoes to change hands over the rest of the week, Metal Bulle...Read More