Traders will prefer to be long in gold and silver for the weekend. Sharp corrections (if any) should be used to go long for Monday. Crude oil should fall. Momentum for copper is very bullish. Sharp increase in COVID cases in key states in USA this week will ensure that gold and silver rise next week too. Only risk to my view is a sustained slide in US stock markets. I had written in previous rep...Read More

Every market corrects, maybe profit taking, maybe of allowing those who missed out, to get in!The current open interest on the gold contract looks to high after a very fast price move, it looks like 2008 may be repeating. A quick flushing out of the weak hands open interest may take place before a real advance in price takes place. The correction may be on the back of a wider sell off of risk asse...Read More

Brazilian domestic flat steel prices rose on Friday July 10 after local steelmakers began implementing previously announced price increases amid recovering demand.Most flat steel prices were heard increasing by around 5%, or half of the hike announced in June, when steelmakers told distributors they would increase prices by 10%.According to market participants, an additional 5% price rise is alrea...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday July 10.China Seaborne ore prices fell in response to lower offers for August shipments, with some market participants remaining bearish about the near-term outlook due to rising portside stocks and higher-than-expected volumes of cargoes flowing to China (particularly for 37% material). There was go...Read More

Key data from the pricing sessions in Asia, Europe and the United States in the week ending Friday July 10.China The spot price range for 75-grade ferro-silicon narrowed downward due to continuing weakness in the magnesium sector, despite major steel mills increasing their July tender prices for 72-grade alloy. Hebei Steel set its final July tender price for 72-grade ferro-silicon at 6,100 yu...Read More

The US primary foundry alloy premium inched up on Friday July 10 even as spot activity remained muted, supported by improving sentiment as automotive supply chains in the US normalize. Premiums in Europe were unchanged.US premium rises, but market quietFastmarkets assessed the aluminium wheel alloy silicon 7 ingot/T-bar premium, dlvd dup over P1020A Midwest US at 6-9 cents per lb on July 10, up fr...Read More

Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort337,03069,67254,030118,424421,016509,484544,718Change from Prior Reporting Period 8,0887,4001621,7272,8569,97710,418Traders22766895559318181 Small Speculators LongShortOpen Interest 63,29228,058572,776 1,17173011,148 non reportable positionsChange from the previous reporting peri...Read More

The gold miners' stocks are blasting higher, just achieving major new secular highs! Traders are flocking back to gold stocks as the metal they produce relentlessly advances on strong investment demand. That is atypical during market summers, but the pandemic has made for unprecedented times. This gold-stock upleg is big, but doesn't look excessive yet. It should keep marching with inves...Read More

Marin KatusaI'm sure you're well aware, gold has been on a tear and has broken above $1,800 per ounce.Every goldbug on the planet is excited and salivating at the mouth...Except for a group of bankers who accidentally got caught up in the greatest modern-day gold racket. For them, their gold bars aren't worth $1,800 per ounce, but more like $2.75 per pound.If you've watched a lot of western movi...Read More

David HaggithWe are nearing that mid-point in July when I said we would start to see the news turn from euphoria-inducing reopening positives to depression-developing realism.Speaking of stock-market bulls who are stampeding uphill on the euphoria side, I wrote,Right now the farce is with them reopening has arrived! And these stupid people will believe that means they were right about the "V,...Read More

By: Gary SavageI have never found a consistent way to find tops in this market over the past 30 years, when you have central bank QE interfering. Over time, shorting generally cost me more money than I made. Markets go down differently than they go up, tops form differently and it is difficult to consistently time the tops:https://blog.smartmoneytrackerpremium.com/Read More

By: Ira EpsteinGold has had the best close since 2011. The pattern remains in a neutral trend in the short-term market. The market is well over the 18-dma, $1778.80 level, but we have a problem:Read More

Brady Willett, FallStreetAs a contrarian and long-term holder of Goldcorp. (now Newmont), the latest push higher in the price of gold begs the question: is now the time to sell? The concern, for the uninitiated, is that after the price of gold moves powerfully higher there is an uncanny tendency for forces to mysteriously align and push prices powerfully lower. These "forces" (excuse the co...Read More

Sam Laakso, VOIMA GOLD Gold has had a great run over the past year. Gold prices have risen in every single currency on earth and in many currencies gold prices are up well over 30 percent from last summer.In early January, I published an article (in Finnish) in a local financial newspaper where I articulated why gold would rise to $1800 per ounce during the first half of the year - a rise of 2...Read More

The London Metal Exchange is looking for ways to boost its options market, which has been struggling for some years to replicate the growth seen in the same sector among its peers.The exchange has launched a consultation, scheduled to end on July 29, on developing electronic options via a new trading platform while retaining its current inter-office options trading structure.Items up for discussio...Read More

The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More

The posting of 1.81 trillion yuan in new Chinese loans early in the European trading session on Friday July 10 led to a rally across all London Metal Exchange three-month base metals prices.LME base metals futures moved higher as fund positioning became less bearish, with bids moving into firmly bullish territory, and all metals, apart from tin, ended the day up compared with Thursday's close."You...Read More

Market participants say off-warrant aluminium stocks are much higher than what is reflected in this week's London Metal Exchange data release, but many welcomed the added transparency. As part of a new warehouse reform, the LME has begun publishing off-warrant stock data. In the data published yesterday, it highlighted an extra 1 million tonnes of aluminium available as of the end of May 2020. So...Read More

The LME three-month nickel price was trading down 1.2% on the previous day's close at around $13,080 per tonne during the morning session on Friday July 10, continuing its descent from yesterday's $13,550 per tonne intraday high.Yesterday's shadow-stock report from the London Metal Exchange said that 18,753 tonnes of nickel was available off-warrant globally, which constitutes about 8% of the 234,...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Capped by oversupplyA lack of a meaningful supply adjustment to the Covid-19 demand hit is keeping the aluminium physical market oversupplied and weighing on prices, limiting the success of more buoyant macro and technical forces on prices. Our premium forecasts are under review in light of threats from the U...Read More