China’s economy grew 3.2 percent in Q2 2020. The expansion was above expectations, but it does not have to sink gold.Last week, China reported that its economy grew 3.2 percent year-on-year in the second quarter of this year, following a 6.8 percent contraction in the previous quarter, as the chart below shows. Importantly, the actual growth rate beat the market expectations of a 2.5 percent...Read More
Last week, we wrote that gold miners flashed an“extremely overbought” signal, which they had only flashed once in the past –almost right at the 2016 top. The GoldMiners Bullish Percent Index recently moved to the highest levelthat it could reach – 100.The only other case when the index was at 100, wasin mid-2016. We marked this situation with a vertical dashedline. Did min...Read More
As the world's economic engine starts to recover from the COVID-19 pandemic, the demand for certain key commodities are a good indicator of the rebound strength.The S&P GSCI Commodity Index (Chart 1) is a collection of24 commodities from all commodity sectors (energy products, industrial metals, agricultural products, livestock products and precious metals). Since 2011, the index has been in a...Read More
"Hope and fear look different on a chart"Recently in these pages, we noted that bull markets in stocks tend to end with "a subtly slowing ascent" rather than with a final "spike" higher, as many investors believe. Historical examples were provided.It was also pointed out that, by contrast, commodities do tend to end major uptrends with a price spike.The Wall Street classic book, Elliott Wave Princ...Read More
You may have heard that gold typically rallies seasonally from themiddle of the year. This trend is driven by jewelry demand, which increasesahead of the Christmas business, the Indian wedding season and the Chinese NewYear celebrations on the back of advance purchases by jewelers, which tend to putupward pressure on prices. But what about the seasonal trend in gold stocks? Since the earnings ofgo...Read More
Amid a hot market for copper, China's smelters are jumping in on a profitable niche business dominated by traders.Eight major copper smelting and mining companies - China Gold, China Copper, Baiyin, Daye, Yantai Guoxing, Jinchuan, Minmetals and Nanguo - are lobbying for licenses to import and process complex concentrate, Fastmarkets has learned. In a race to receive final approv...Read More
Gold and silver markets advanced early thisweek, with silver leading the way. OnThursday, the metals sold off a bit as the U.S. dollar gained.The major trend for the dollar, however, isdown. The Dollar Index has been grinding lower since mid March, when it put ina spike high. Silver finally broke through $19 level with astrong close above it on Monday. Therehasn’t yet been...Read More
It’s official now! On June 8, the Business Cycle Dating Committee of the National Bureau of Economic Research stated that economic activity in the United States had peaked in February 2020 (and in Q4 2019, when it comes to the peak in quarterly economic activity), marking the start of a recession. The peak also designates the end of the expansion that began in June 2009 and lasted 128 months...Read More
It's hard to see how they can get out of a SHOCKING DELIVERY NOTIFICATION EVENT!by Bix Weir of Road to RootaWith the September COMEX open interest RISING to over 130,000 contracts it's hard to see how they can get out of a SHOCKING DELIVERY NOTIFICATION EVENT in less than 19 trading days! Got Silver!!Read More
There was a remarkable change in the dynamics controlling the silver market, indicating much higher prices to come... by Steve St Angelo of SRSrocco ReportSomething quite interesting took place in the silver market last week. There was a remarkable change in the dynamics controlling the silver market, indicating much higher prices to come. In my newest video update, I explain the positive ch...Read More
We are now entering a transition stage, the world is watching...Lior Gantz interviewed on X22 Report SpotlightLior discusses the economy on how gold and silver are going to make higher gains. Lior says that gold and silver are not in a bubble and inflation is a future marker, watch the 2% marker that the Fed puts out. We are now entering a transition stage, the world is watching.Read More
Summerdoldrums? Not for precious metals markets!Inearly July, gold and silver eachbroke out to fresh multi-year highs. The yellow metal is within strikingdistance of new all-time highs and the headline worthy figure of $2,000/oz.Thewhite metal, meanwhile, has a lot of catching up to do. And as it does, thegains in percentage terms could be explosive.Silver has already packed on 60% since its March...Read More
Silver investmentdemand is exploding in recent months, skyrocketing higher inwildly-unprecedented fashion! That has catapultedsilver sharply higher since mid-March’s COVID-19-lockdown stock panic. Accelerating even in this usually-weak summerseason, the massive capital inflows deluging into silver show no signs ofabating. This is very bullish for silver,yet most traders rem...Read More
Three-month base metals price on the London Metal Exchange were higher at the close of trading on Monday August 3, with positive manufacturing data prompting an afternoon surge in buying.Aluminium led the charge in a 2% rise at the 5pm close, against standout turnover.Aluminium's outright price closed at $1,752 per tonne on Monday afternoon, its highest closing price since February 13, while turno...Read More
Aluminium premiums in Rotterdam are on an upward trend for the first time since the Covid-19 pandemic took hold of Europe, with benchmark P1020 premiums at four-month highs. Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam at $90-95 per tonne on Friday July 31, up from $85-90 per tonne the week before. The midpoint of $92.50 per tonne is the highest since April 3 - the...Read More
The number of cases of Covid-19 in the U.S. have been rallying very quickly in last weeks, giving way only to the gold prices, which have surpassed $1,800. It’s not easy to terminate the viruses, especially that they are not quite alive. Indeed, the pandemic of the coronavirus is still not over, as the chart below shows. The global number of daily confirmed Covid-19 cases has surpassed 220,0...Read More
The next few weeks are certain to attract much attention to precious metals. Hardly anyone can argue that Gold has not experienced an incredible upside price rally over the last 12+ months. Recently, Gold closed above $1800 for the first time since 2011. Our researchers believe the next target is $1935. Keep reading to learn why we believe this is the next major price targe...Read More
Seaborne premium hard coking coal prices remained relatively flat on Monday August 3 on a lack of transactions in the spot market, while most Chinese market participants can only stand by due to the country's stringent import restrictions on seaborne materials. Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.36 per tonne, down $0.13 per tonne Premium hard coking coal, cfr Jingtang: $11...Read More
Previously, I have shown how there were virtually no significant Silverrallies over the last 50 years during a period when the US Dollar index hasbeen rising.Betting on a silver rally when the US Dollarindex is in decline makes for great odds. There have been two significantSilver rallies in the last 50 years (marked out with rectangles on the chartbelow). During both of these, the US dollar...Read More
The US economy is nowherenear recovering from the lockdown measures imposed by cities and states duringthe covid-19 pandemic, and that is weighing on the US dollar, which has fallensharply since March. The beneficiary, asexpected, has been gold (and silver), which normally moves in the oppositedirection as the greenback. Year to date, spot gold has risen 16% to $1,811/oz,while the US Dollar I...Read More