The major gold miners’stocks have rallied dramatically out of mid-March’s stock-panic lows, soaringto new bull-market highs. Theirjust-reported Q1’20 operational and financial results reveal whether today’shigher gold-stock prices are fundamentally justified. They also illuminate whether this gold-stockupleg is likely to continue powering higher, despite the cat...Read More
"2,907: this is coincident with the round -10% year-to-date (YTD) return and vicinity of the 2,900-century mark. (In 2019, the +10% YTD return marked brief resistance in February and support in early March and early June)" -Monday Morning Outlook, April 20, 2020Additionally, on the hourly chart of the SPX's year-to-date (YTD) percentage gain/loss immediately below, note the i...Read More
Gold, silver, copper and crude oil are all very bullish. Gold can rise to $1800+ by tomorrow if the rise continues. Silver can break past $20.00+ if the rise continues. Crude oil will if it floats over $30.00 this week will rise to $37.60 and more. Copper is bullish as long as it trades over $228. Speculation of negative interest rates by the bank of England will only increase the pace of rise o...Read More
German steelmaker Thyssenkrupp is seeking a partner to consolidate its loss-making steel business, sources told Fastmarkets on Monday May 18.The company was reported to have started negotiations with a number of companies over the sale of a share in its steel business.Thyssenkrupp neither confirmed nor denied this information."No further comment at this moment," a spokesperson for Thyssenkrupp sai...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12May 18, 2020 "The pandemic has morphed into an economic crisis far greater than the Great Recession of 2008, because major Western governments' response to the coronavirus was late, especially in the U.S. w...Read More
By Clint SiegnerNervous investors have been pouring into the gold and silver markets over the past two months.Money Metals Exchange is proud to have helped almost 20,000 new customers with a precious metals purchase in recent weeks, many of whom came over from other dealers struggling with inventory shortages and ridiculous delivery delays.A new wave of investors is getting the message; the Fede...Read More
Strengths? The best performing precious metal was silver, up 7.30 percent. Gold had a strong week and held above $1,700 an ounce. Bullion rose the most in a week on Wednesday after Fed Chairman Jerome Powell said that the U.S. economy is facing unprecedented downside risks that could do lasting damage. Powell pushed legislators to take more action to support the economy. The poss...Read More
Dear Friend of GATA and Gold:GATA today asked the U.S. Commodity Futures Trading Commission whether it has ever audited the gold reported to it by the New York Commodities Exchange as being eligible or registered for sale and delivery on the exchange.In a letter to commission Chairman Heath P. Tarbert, your secretary/treasurer and GATA consultant Harvey Organ wrote:"Recent turmoil in the gold ma...Read More
Gold, silver, copper and crude oil are all very bullish. Gold can rise to $1800+ by tomorrow if the rise continues. Silver can break past $20.00+ if the rise continues. Crude oil will if it floats over $30.00 this week will rise to $37.60 and more. Copper is bullish as long as it trades over $228. Speculation of negative interest rates by the bank of England will only increase the pace of rise o...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) expects to ship 32 million tonnes of iron ore in 2020, chief financial officer Marcelo Ribeiro said on Friday May 15.The company aims to increase its output rate through the remainder of the year, after heavy rainfall cut production in the first quarter. CSN changed its 2020 output guidance to include third-party purchases...Read More
Market focus is on the annual sittings of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference, or "twin sessions", later this week, with the fate of ferrous supply chain prices depending on its aftermath. The annual gatherings of China's national legislature and top political advisory board are the major risk events market par...Read More
Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More
The latest data for the global manganese ore market for the week ended May 18, 2020.Read More
Prices in the export markets for CIS steel slab moved in differing directions in the week to Monday May 18, with a widening gap between workable prices in the traditional outlets such as Italy and Turkey and those possible in China, which has become an active slab importer recently.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $330-350 per tonne on May 18, wi...Read More
How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More
Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More
How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More
Donna Vareha-Walsh, director of sales and global supply chain for Indium Corp, has been elected to serve as vice chair of the Minor Metals Trade Association (MMTA) and take over as chair in April 2021.As vice chair, Vareha-Walsh will work closely with current chairman Simon Boon, and assume his position in April 2021 following the MMTA annual conference in Charleston, United States.Boon has been i...Read More
Market focus is on the annual sittings of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference, or "twin sessions", later this week, with the fate of ferrous supply chain prices depending on its aftermath. The annual gatherings of China's national legislature and top political advisory board are the major risk events market par...Read More
It's more likely silver is topping rather than breaking-out. Here's why...by Przemyslaw Radomski via Sunshine ProfitsWhenever one hears the words precious metals, gold and silver spring to mind. But this world is much richer, and precious metals don't end with the yellow or white metal. The less well known cousins, platinum and palladium, can and do send valuable signals too. Before we examine s...Read More