Here are five Fastmarkets stories you might have missed on Monday May 4 that are worth another look.Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients.The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12May 4, 2020 "COVID-19. A pandemic or a surveillance and banker's dream? Anthony T. Hincks, aka Anthony Hawes, author, An Author of Life, Volume 1, and many more "Who benefits from all the money that is b...Read More
The gold miners’ stockssurged to a major bull-market breakout this week! Powering decisively above their years-oldsecular resistance is a hugely-important technical event. It proves this gold-stock bull is alive andwell, greatly improves sentiment, and puts this high-flying sector on countlessmore traders’ radars. New bull highs fuelself-feeding bullish psychology, as...Read More
By Keith Weiner The price of gold dropped $29 and the price of silver dropped $0.27. We'll get back to where we think the prices are likely to go in a bit. In recent Reports, we've looked at the elevated bid-ask spread in gold (though not nearly as elevated as some goldbugs would have you believe) and the elevated gold basis. As an aside, we continue to see articles that get the high gold b...Read More
Exporters of flat steel from the Commonwealth of Independent States (CIS) were calm during the week ended Monday May 4 due to the large gap between offers and the workable level for buyers, Fastmarkets heard.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $350-365 per tonne on Monday, down by $5 per tonne from $355-370 per tonne a week befor...Read More
Maurice Jackson of Proven and Probable speaks with Andy Schectman, president of Miles Franklin Precious Metals Investments, about the present situation with physical precious metals.Maurice Jackson: Today, we're going to discuss precious metals premiums, the COMEX and the big picture. Joining us for a conversation is Andy Schectman, the president of Miles Franklin Precious Metals Investments. Andy...Read More
Gold will remain firm on restarting US China trade tensions. Pre USA presidential drama has started. Trump has started blaming china for corona virus. Trump has restarted the trade war. The trade war is a political drama by Trump to divert mass attention from late reaction to CVOID crisis. There will be more such politically motivated things by Trump. Gold will remain firm till November. There c...Read More
The three-month price of copper on the London Metal Exchange was higher at the close of trading on Monday May 4, pushing above nearby resistance levels despite the lowest daily trading volumes since April 6, while tin similarly staged a modest recovery in afternoon trading.Copper's outright price on the LME closed at $5,123 per tonne, recovering from an intraday low of $5,060 per tonne, while just...Read More
With the supply/demand balance moving in favor of miners, the outlook for uranium stocks is the brightest it has been in years, according to McAlinden Research Partners. SUMMARY: Uranium has been enjoying a stealth bull market due to the coronavirus outbreak. Temporary mine closures to slow the spread of the virus at production facilities have triggered an unexpected supply squeeze, sending the pr...Read More
Domestic prices for hot-rolled coil in both Northern and Southern Europe dropped over the week ended Friday May 1 due to supply exceeding demand.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?425.63 ($467.04) per tonne on May 1, down by ?,?17.50 per tonne week on week and down by ?,?46.87 per tonne since the start of April.Friday's index was calculated b...Read More
There are as many ways to play the PM sector as there are investors. Some will only buy the big cap PM stocks for safety. Others will only buy the mid cap producers. Some will only buy a mix of big caps and mid cap producers. And then there are the PM stock investors that will only play the juniors. Each has its own advantage depending on your risk tolerance. Some of you are wondering why is Rambu...Read More
Here are five Fastmarkets stories you might have missed on Monday May 4 that are worth another look.Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients.The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter...Read More
Chris Vermeulen, CEO & Founder of Technical Traders Ltd., joins Tom Bodrovics at Palisade Radio to discuss the markets and Chris says, “This is the time to really be paying attention to the markets… It could be a bloodbath.”Chris is seeing uncertainty that could bring equities lower as money is flowing into safe havens. The charts are showing that markets are approaching a m...Read More
Gold stocks are the crazy ride in the markets. The swing are so great it does not matter if you miss a bullish the break out as another deep pull back allows you to enter with ease. The good news is the (!XAU) PHLX Gold/Silver Index (in the chart below) is very friendly to price cycles. These cycles can be used for timing markets, it also makes it clear if you fight the price cycle you may be in l...Read More
Well boys and girls The Straits of HELL have just been breached, JUMPED with a GAP, which leaves us with one of the LARGEST Island Bottoms of all times, IF not the largest.To me that signifies that whomever they are, Monetary or Governmental Authorities, Et Al, have lost control.and that Precious Metals will do as they need to, based on the leadtime of the GDX.Good Luck All, BREAK A LEG !! The G...Read More
Christine Keener has been appointed Alcoa's vice president of operations for Europe and North America, in a new role combining the two operating locations, Fastmarkets understands. The consolidation, effective from Friday May 1, will streamline the management of operating Alcoa's assets and ensuring alignment among common markets, the company said. Keener replaces Jean Francois Cyr and...Read More
The three-month price of copper on the London Metal Exchange was higher at the close of trading on Monday May 4, pushing above nearby resistance levels despite the lowest daily trading volumes since April 6, while tin similarly staged a modest recovery in afternoon trading.Copper's outright price on the LME closed at $5,123 per tonne, recovering from an intraday low of $5,060 per tonne, while just...Read More
If you believe, as I do believe, that they're going to continue printing money to bail-out everyone, then there's a very strong, long-term case to own...by Simon Black of Sovereign ManAt precisely 4pm on Friday October 17, 1975, New York City's government would have a $453 million in debt to repay.But literally the night before, the city's government had only $34 million on hand.It was the makings...Read More
The outlook is VERY bearish...by Przemyslaw Radomski via Sunshine ProfitsGold and the US dollar - the yellow metal doesn't really move regardless of the greenback. As the strength of their relationship (and even the direction gold takes in response) change over time, let's start today's analysis with a quick look at how they are doing currently. You're probably wondering why didn't gold slide, giv...Read More
After being pummeled to record-low levels relative to gold, an epic silver mean reversion higher is underway. Here are the details... by Adam Hamilton of Zeal LLCSilver is powering higher in a new bull market after getting clobbered in March's stock panic. Investors have been flocking back to silver in the aftermath of that ultra-rare extreme-fear event. That brutal selloff also utterly wiped...Read More