Indian importers have rejected import offers of hot-rolled coil from South Korea at a price of $500-505 per tonne cfr Mumbai, citing low domestic prices, Fastmarkets heard on Wednesday July 29.According to an importer, bids for similar material at $478-480 per tonne cfr Mumbai were not accepted by the seller."The cost of South Korea-origin HRC imports for us, even at a price of $500 per tonne cfr...Read More
Domestic prices for hot-rolled coil in have increased over the week to Wednesday July 29 in Northern Europe and stood unchanged in the south of Europe, sources told Fastmarkets. Market activity has been gradually declining over the week because the European market is entering the traditionally slow month of August, but the sentiment remains positive. Steelmakers will resume production at higher pr...Read More
The Technical Secretariat of Anti-Dumping (TSAIP) of the Gulf Co-operation Countries (GCC) has announced its preliminary determination in its steel safeguarding case, the World Trade Organization said on July 23.According to the preliminary results, GCC countries decided that the import of steel products under investigation had increased significantly to the region, which was causing serious harm...Read More
The United States' International Trade Commission (ITC) has voted to retain existing countervailing duties on imports of carbon and certain alloy steel wire rod from Brazil and anti-dumping duties on imports of this product from Brazil, Indonesia, Mexico, Moldova and Trinidad and Tobago, it said on Wednesday July 29. The commission determined that revoking the duty orders "would be likely to lead...Read More
The Technical Secretariat of Anti-Dumping (TSAIP) of the Gulf Co-operation Countries (GCC) has announced its preliminary determination in its steel safeguarding case, the World Trade Organization said on July 23.According to the preliminary results, GCC countries decided that the import of steel products under investigation had increased significantly to the region, which was causing serious harm...Read More
(Denver, Colorado - July 29, 2020) GoldSeek.com is pleased to announce that it will be launching its new website in the coming days. This will be the third major revision to the GoldSeek website over the past 25-years.In the next version of GoldSeek.com, we are excited to announce the following features:Live Gold Prices - streaming live gold prices & charts Mobile Friendly - smartphone &...Read More
Hubert MoolmanThe following is an update of a previous article:During the 2008 financial crisis the Fed significantly increased the US monetary base to keep the system from collapse. They are currently in a similar situation, and have done (is doing) the exact same thing.Here is a chart of the US monetary base to illustrate the similarity: With the 2008 actions they were able to avoid the colla...Read More
The U.S. Mint made an unusual request last week. In a press release dated July 23, the bureau literally begged Americans to start putting coins back into circulation by spending or depositing them.As you may have noticed, people just aren't making transactions with coinage like they used to. That's especially the case now in the age of the coronavirus. With many people sheltering-in-place, bil...Read More
Silver has made impressive gains over the past week which resulted from its breaking out at last from the giant Double Bottom base pattern that started to form as far back as 2013, so it's been a long wait for silver investors for this to happen. Over the past week it has done exactly as predicted in the "breakout Souvenir article" posted on the site on the 22nd, running quickly at the strong re...Read More
By Avi GilburtLast week, I put out an article outlining my expectation for a pullback in GLD before we head to the 200+ region. Within the comments section, I outlined my plan as to how I am going to play for a potential pullback. However, that pullback has not yet materialized.For those that have followed me closely for years, you know that I have been heavily long physical metals and mining s...Read More
Due to measures taking by the West Point Mint to protect workers from the virus, the production of gold and silver coins will be reduced over the next 12-18 months. By enacting these worker policy changes, the U.S. Mint will not be able to produce gold and silver bullion coins at the same time. Thus, if demand continues to be strong for Gold and Silver Eagles, we could see higher premiums...Read More
Hollow steel sections prices in Europe were flat on Wednesday July 29 with the market experiencing its usual summer slowdown, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?540-560 ($620-642) per tonne on Wednesday, unchanged week on week.Fastmarkets' weekly steel sections (medium), domestic, delivered Southern Europe...Read More
Dear Friend of GATA and Gold:Appended is tomorrow's editorial in the Financial Times, which, taking note of gold's sharp rise in price, begins with a factual error, goes on to sulk for six paragraphs, and concludes with the hope and expectation that gold will go back in the dumpster eventually.The error beginning the editorial is the assertion that gold doesn't pay interest. Gold doesn't automa...Read More
By: Ira EpsteinGold has spent 6 days in a row over the upper Bollinger band, this is unheard of. I have seen a 7 day before, this is a sign of great strength! Gold has 18DMA at 1836+ area and rising quickly. Silver had an amazing move. I would be very careful, $4-range in one day! I appreciate your bravery, but I just don't have it. I would avoid leverage futures here:Read More
Gold and silver are firm before the FOMC. There is expectation that Federal Reserve will reiterate of easy monetary policy for a very long time. Federal Reserve and most central banks will tolerate higher inflation for the rest of the year and next year. This is one of the reason why gold and silver prices are rising. I have been saying for quite a while that global economic growth in the third...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects to increase its iron ore production from the third quarter, after transportation issues reduced output in the first six months of the year, the company's chief financial officer, Marcelo Ribeiro, said on Wednesday July 29.Own output and third-party purchases are estimated to be near the 10-million-tonne quarterly level during the s...Read More
Will the Fed continue papering over massive problems until hyperinflation destroys the dollar, or will the bond market revolt and we collapse into a long-term depression? Either way, many people stand to be wiped out for a very long time.As gold breaks out to new all-time highs, and unprecedented Fed currency expansion in the name of "stimulus" drives record acceleration in debt, Michael Pento, pe...Read More
Last week's video with Mike Maloney, Chris Martenson and Jeff Clark was received so well by our viewers that we've decided to make this a weekly event. In this installment, our team discusses whether this is just the beginning for gold, where the new buying pressure is coming from, and a whole new chapter in freedom - decentralized media.Michael Maloney is a precious metals investment expert and h...Read More
Export prices for bulk cargoes of Japanese steel scrap have risen for the third consecutive week amid solid buying interest, market sources told Fastmarkets on Wednesday July 29.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?25,000-25,500 ($237-242) per tonne on Wednesday, up by ?500 per tonne from ?24,500-25,000 per tonne last week.Japan-origin H1:H2 (50:50...Read More
Ron Paul reveals incredible insights ??'? YOU NEED TO HEAR! ??'^ He's been campaigning to audit the Fed since 1975!! We need to see behind the curtain. Today we discuss this and the governments push to ban cash, moving all Americans checking accounts to the Fed!! This dystopian 1984 might be a reality in the US soon and everyone needs to be informed and prepared. I also talk to Dr. Paul about the...Read More