Steel wire rod producers in the north of Europe have largely sold outof June-rolling material and have yet to announce offers for July, while buyers expect prices to rise sharply due to persistent material shortage, limited and expensive imports, Fastmarkets heard on Wednesday May 19Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was...Read More
Prices for steel hollow sections in Europe increased on Wednesday May 19, with some mills reportedly stepping out of the market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,220-1,250 ($1,489-1,525) per tonne on May 19, up from ?,?1,190-1,220 per tonne on May 12.Market participants told Fastmarkets that severa...Read More
Turkish steel mills resumed booking deep-sea scrap late on Tuesday, resulting in higher prices, sources told Fastmarkets on Wednesday May 19 - the start of a public holiday in the country.The Turkish import market had been quiet since the Eid al-Fitr holiday that began on Wednesday May 12. Monday and Tuesday May 17 and 18 were normal working days, but no bookings were done until late on Tuesday. A...Read More
A strategy to cool down commodity price spikes was top of the agenda China's weekly State Cabinet meeting on Wednesday May 19. Chaired by China's second most powerful politician, Premier Li Keqiang, the cabinet meeting discussed control measures to rein in the "unreasonable price rally", including ensuring sufficient supplies of main commodities. The aim is to prevent the rising costs pa...Read More
Prices for steel scrap cargoes exported from Japan rose again during the week to Wednesday May 19 amid a healthy appetite from both South Korea and domestic buyers, market participants told Fastmarkets.The sharp decline in Chinese ferrous futures and spot market prices this week has done nothing to stop the rise of the Japan scrap market, with a further increase in offer prices recorded across all...Read More
The drop in demand for imported billet in China in recent days has resulted in traders reducing the bid prices placed in new tenders with Iranian mills, Fastmarkets learned on May 19.Sirjan Jahan Steel was looking for $690-700 per tonne fob in the assessment week's tender on a sale from Arfa Iron & Steel done last week at $695 per tonne fob Southern Iranian ports, one trading source said.The trade...Read More
First Quantum Minerals has entered into a binding agreement to sell a 30% equity interest in the Ravensthorpe nickel-cobalt operation in Western Australia to South Korean steelmaker Posco for $240 million in cash, the company said on May 19.The Vancouver, Canada-headquartered company will retain a 70% interest in Ravensthorpe and continue to be the operator.Posco and First Quantum have also agreed...Read More
For Part 1 of this video series, CLICK HEREPart 2 of Mike Maloney's investigation into "Who Really Owns America's Gold?" is here. Join Mike as he explains the process and sleight of hand involved in accounting for the gold of the United States, and brace yourself for the ending.Download Mike's best-selling book for free here: https://pages.goldsilver.com/freebook Thanks for sharing and clicking th...Read More
Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieute...Read More
A Wednesday report from JPMorgan says that Institutional investors are dumping bitcoin in favor of gold, reversing a recent trend that's played out over the last two quarters. The firm said large investors are shifting away from bitcoin after favoring the digital currency over gold beginning last Fall.Our Daniela Cambone speaks with Todd "Bubba" Horwitz founder of bubbatrading.com and an avid mark...Read More
Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at Salomon Smi...Read More
00:00 - Intro00:44 - Hyperinflation coming in the US?5:45 - Will the US Stock Market go Up Forever?7:58 - Will Current Inflation be Transitory?10:13 - How will the Worst Event in Jim's Life Time Come About?11:56 - Will the Fed enact Yield Curve Control13:15 - Will the big US Obligations Trigger a Collapse in the Dollar?14:55 - How to Do Well in an Inflationary Environment19:15 - How would Jim Buil...Read More
We are joined on Metal Money by Gary Wagner, CEO of TheGoldForecast.com. Is the breakout in gold and silver prices a head fake or does it signal the end of the price consolidation since September 2020? Find out in our interview with Gary Wagner! Gary Wagner's The Gold Forecast: https://thegoldforecast.comGary Wagner has been a technical market analyst for 25 years. A frequent contributor to STOCKS...Read More
First on the agenda, are cryptos a magical creation exempt from all the known market forces? David believes that Fibonacci will have his revenge. A major retracement is inevitable. Then we discussed his open letter to Elon Musk, urging him to buy silver. Our solar clean energy future depends upon it. There's not enough silver in the world to switch over to solar and green, but that won't stop the...Read More
You know, it doesn't have to be this way. To combat vaccine skepticism, or hesitancy, I have a simple solution for the authorities; stop spinning the data and start being transparent and consistent. It's really not that hard to grasp. People don't like uncertainty and that is often a function of authorities being unclear or inconsistent. The bottom line is that the short-term safety data for the 3...Read More
President of Miles Franklin Andy Schectman demystifies recent revelations about accounting errors in the gold market. Physical metal continues to be hard to come by. There's a growing awareness that "if you don't hold it, you don't own it."0:00 Intro1:41 Latest revelation in silver6:09 Metal swap opportunities10:54 Reportable transactions12:35 Kilo silver bar special17:02 Uncertain timesAndy Schec...Read More
Team Biden was able to pull the plug on COVID Mania so swiftly because they have the ability to control the federal bureaucracy, in addition to having the support of the power brokers in D.C. and Continue...Read More
George Edward Gammon is an American real estate investor and entrepreneur. He produces and stars in a popular YouTube Channel. Prior to 2012, George started, owned, and operated multiple businesses ranging from conventions to advertising. The last growing to 24 million in annual revenues and over 100 employees. After 12 years as a successful entrepreneur, at the age of 38, George semi retired and...Read More
The Bitcoin price tumbled to $30,000 Wednesday as risk assets sell off across the board.Gareth Soloway, chief market strategist of InTheMoneyStocks.com discusses with David Lin, anchor of Kitco News, whether or not to buy the dip now.Gareth Soloway President is CEO & Chief Market Strategist for InTheMoneyStocks.Read More
1. As the markets fall today it is Bitcoin and the crypto currency story that is front and center. Bitcoin traded down to 30,205. Believe it or not, this level is the daily chart 200-day moving average. If this level fails to hold as support then Bitcoin is headed down to 21,000. After 21,000, 5,000 is a real possibility. https://www.kitco.com/news/2021-05-19.... Either way, all of the major stock...Read More