DOWNSIDE POSSIBILITIES FOR GOLD PRICEThere is a correlation of gold’s increasing price relative to the declining value of the US dollar. The chart (source for all charts) below shows this inverse relationship clearly… Over time, as the US dollar continues to lose value, the price of gold continues to increase.  Seemingly, it would be worthwhile to just buy gold and wait for the i...Read More

The precious metals sector was likely to decline,and it did exactly that. And based on what we just saw, it’s likely to declineeven more.Once again, the situation yesterday and so fartoday developed quite in tune with what we wroteyesterday, so today’s analysis will take form of a broad update.Let’s take a look at the GLD ETF. In yesterday’s and Monday’s analyses, wed...Read More

The most important measure for an economy, its recoveryor advancement is employment - that is, the availability of good-paying jobs.  When citizens have jobs, they earn an income withwhich they can pay for their needs, and pay taxes to the government for itsneeds.  So jobs and income, are the keydeterminants of a healthy, modern consumer-driven economy.  Over the last several decade...Read More

Precious metals are loving the uncertainty the coronavirus hascreated. Despite limited successessome countries have had with reopening, the virus is nowhere near contained. Asof this writing, close to 6 million worldwide are infected and 365,328 havedied. The important columns in the table below from the heavily visited Worldometer's coronavirus page, are the yellow andred.  The United S...Read More

An expected shortfall in Brazilian supply of high-grade iron ore will likely result in 2020 becoming a boom year for Australian miners.While Brazilian miner Vale, a key producer of high-grade iron ore fines and pellets, is maintaining its production guidance despite a suspension of operations at its Itabira mining complex, many market participants in Asia are expecting a shortage of Brazil-origin...Read More

From Investopedia:“Correlation is a statistic that measures the degree to which two variables move in relation to each other. Correlation measures association, but doesn’t show if x causes y or vice versa, or if the association is caused by a third–perhaps unseen–factor.”In order for correlation to exist, there must be fundamentals that directly connect the two items...Read More

Since the creation of the Federal Reserve in1913, the stock market has outperformed Gold and Silver significantly. Here isa great chart (from longtermtrends.net) that proves this: The S&P 500 is in red, the Dow in blueand Gold and Silver in their native colours. The outperformance is huge.Through the debt-based monetary system, the Fed facilitates the extension ofcredit which disproportionatel...Read More

Last week, the FOMC released the minutes from its last meeting. What implications do they carry for the gold market? FOMC Finally Acknowledges the Situation As SeriousLast week, the FOMC has published minutes of its meeting from April 28-29. They show that the Fed reassessed the coronavirus economic implications since the previous meeting at which the central banks did not yet grasp the full gravi...Read More

The LME three-month copper price was the standout performer at the close of trading on Wednesday June 10,achieving its highest closing price since January 23, while tin futures similarly recorded a six-month high. Copper's outright price on the London Metal Exchange closed at $5,907 per tonne on Wednesday afternoon, climbing from an intraday low of $5,776.50 per tonne, while turnover topped the ba...Read More

The China virus, the economic lockdowns, and themulti-trillion-dollar rescue efforts of central bankers have dominated marketsover the past three months.However, as lockdowns gradually lift and the 2020 election drawsnearer, investors will begin to focus more on political developments.The once-strong economy that President Donald Trump had hopedwould propel him to re-election has collapsed. The Pr...Read More

When the economic crisis hits, the first instinct is to analyze the previous catastrophes to learn what to expect from and how to handle the current calamity. So, not surprisingly, many analysts have already pointed to the 2008 global financial crisis (GFC) as the most relevant example. However, is really the current coronavirus recession similar to the Great Recession? Let’s compare these t...Read More

Seaborne premium hard coking coal prices edged down on Wednesday June 10 with transactions sealed at lower levels. Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.96 per tonne, down $0.36 per tonne Premium hard coking coal, cfr Jingtang: $115.02 per tonne, down $1.31 per tonneHard coking coal, fob DBCT: $88.24 per tonne, up $0.99 per tonneHard coking coal, cfr Jingtang: $98.51 per tonn...Read More

The waiting time for aluminium at Istim's warehouse in Port Klang in Malaysia rose to 42 days at the end of May, according to the latest London Metal Exchange queue report, up from 26 days at the end of April. But a fresh queue has built up in Johor in Malaysia too, the new data shows. As of the end of May, there was a 22-day queue at Istim warehouses in Johor for copper, lead, zinc and...Read More

Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit, reports McAlinden Research.Saudi Arabia enhanced their commitment to OPEC+ supply cuts as the Kingdom said they'd shut production of additional 1 million barrels of crude oil per day next month. Most of the OPEC+...Read More

The silvermarket is on the move. In fact, it’s finally moving out ahead of otherprecious metals and showing some real leadership. After the panic selling of March briefly brought spot silverbelow $12/oz, prices have since surged by 50%. That’s an impressive move totake place within the span of just two months.The question for investors now is whether the recent rally insilver is fleeti...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Short-term upside targets achievedLME aluminium's price recovery to $1,600 per tonne has been driven by macro forces acting on all metals, and amplified for aluminium by technical factors after prices became so oversold at the double-bottom lows in April and May. With a 4-million-tonne supply surplus this year, al...Read More

Before we look at tonights charts I would like to go over some challenges that we’ll face as the current impulse move in the PM complex continues to move higher. It’s not everyday that you will find yourself getting in close to the bottom of a multi month rally. One of the biggest problems I’ve witnessed over the years, especially with PM stock investors, is they grow complacent...Read More

This week, Powell gave a long television interview and a testimony to the Senate. What groundbreaking did he say, and what do his remarks imply for the gold market?Powell Gives Interview and TestifiesPowell dominated media news this week. On Sunday, the Fed Chair gave an interview to CBS news magazine “60 Minutes,” while on Tuesday, he testified before Congress. What did he say? In an...Read More

The move of a lifetime isjust beginning!The senior mining companieshave led this rally for the past year. In the metals sector you get leadershiprotation from bullion, silver, senior miners, and junior miners. Silver and thejunior miners have yet to break out of their 2016 highs, but it's coming. Webelieve the junior miners will be next and break through the elusive $52 level. Once this price is b...Read More

To be bullish or not to be – thatis the question. Or it might have been the question, if someonenamed Shakespeare wrote a piece titled Investhamlet.The choice whether to be bullish or bearish orneutral on a given asset should be made each day, each time based on theinformation that is currently available. Let’s check the new signs that we sawyesterday. First of all, we just saw a beari...Read More