Gary TanashianBefore updating the status of the gold miner (HUI) correction, let's take a quick review of the Macrocosm, because it's always a good time to be clear on important macro considerations.The graphic makes the following points that are the foundation of the NFTRH view on the right/wrong times to be fundamentally bullish on the gold stock sector. In order of priority, a bullish view...Read More

By: Gary Savage$SPX well have some sort of re-test of the March's low. Gary Savagehttps://blog.smartmoneytrackerpremium.com/ Read More

Chris MarcusThe Federal Reserve held its latest policy meeting on Wednesday, and like usual, they basically said they're going to print an incredibly large amount of money until eternity.Fed chairman Jerome Powell said that he plans to leave interest rates at 0% until at least 2022, although he may as well have meant 3022. Because for the same reasons as has been the case for the past decade, If...Read More

By Robert LambourneGold market activity by the Bank for International Settlements appears to have risen in May to its highest level in more than three years, according to the bank's statement of account for the month:https://www.bis.org/banking/balsheet/statofacc200531.pdfThe data in the May statement indicates that the BIS increased its position in gold swaps and gold-related derivatives by 84...Read More

By: Ira EpsteinGold is near some key resistance levels, where is the support if it fails to breakout?Read More

The European Commission (EC) has initiated an anti-subsidy investigation into hot-rolled coil imports from Turkey, it said on Friday June 12.The EC concluded that the European steel association, Eurofer, had provided sufficient evidence that Turkish HRC producers have been benefiting from a number of subsidies. Eurofer lodged a complaint to the EC on April 30 this year."The alleged subsidy pr...Read More

GFG Alliance will cut jobs following a drop in demand for steel due to the pandemic which has had a significant, lasting impact on the economies of the countries in which it operates, it said on Thursday June 11. The company announced the headcount reduction alongside an "accelerated investment program" and is implementing a global efficiency drive to help adjust to a new post-pandemic market envi...Read More

The proposed changes to existing EU safeguard measures for hot-rolled coil would result in a drop in import volumes and consequently injure independent distribution in Europe, Italian steel distributors' association Assofermet said in a letter to the European Commission (EC).In late May, the EC presented a draft of the new safeguard measures to the World Trade Organization, which will go into effe...Read More

Prices for flat-rolled steel imported into South America continued to recover during the week to Friday June 12 as more increases were issued - mainly by Chinese and Japanese mills - for August-shipment cargoes.Buyer interest was still lower than usual despite countries such as Peru gradually reopening from lockdowns imposed to prevent the spread of Covid-19. At the same time, a more favorable cur...Read More

Turkish steel producers remained active in the market for import scrap in the week ending Friday June 12, while prices for bulk scrap in Japan and Vietnam appear to hit a ceiling as activity slowed.Turkish mills continue to book deep-sea scrap Demand from Turkey has allowed US East Coast prices to keep increasing Trading activity falls in Vietnamese market as offer prices climb  Buying activi...Read More

The UK market for deliveries of steel scrap to domestic consumers has increased again month on month, on tighter scrap generation against steady demand and higher export prices into traditional destinations, market sources told Fastmarkets on Friday June 12.The move follows fewer scrap arisings in the wake of the Covid-19 lockdown, which resulted in falls in demolition projects in construction and...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

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

The London Metal Exchange recently reiterated its willingness to facilitate spot trading of low carbon aluminium. While not a new concept for the exchange, it would serve two important purposes. First, it would provide more transparent, digitalized data on the specification of its aluminium brands and determine whether people are actually paying more for low carbon metal. Second, it would pro...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

Just over a year ago, US Section 232 tariffs against imports of aluminium from Canada were removed. Now there are calls to reintroduce them.The American Primary Aluminum Association (APAA), which represents US producers Century Aluminum and Magnitude 7, says that Canadian imports have "surged" since the tariffs were removed and are threatening the viability of the US primary aluminium industry.&nb...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

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

The gold-silver ratio tends to fall after a recessionary period. Though the US appears to be at the very bottom of its recession, many major economies in...by McAlinden Research Partners via Streetwise ReportsSilver and silver miners popped in May on the back of a rebound in industrial activity around the world. Ultra-low interest rates and expectations of a weaker dollar have compounded several...Read More

Fastmarkets' fob Australia seaborne hard coking coal index moved up on Friday June 12, after a steel mill in India booked an August-laycan spot cargo on Thursday.Fastmarkets indices Premium hard coking coal, fob DBCT: $107.36 per tonne, down $0.23 per tonne  Premium hard coking coal, cfr Jingtang: $116.52 per tonne, down $0.29 per tonne Hard coking coal, fob DBCT: $89.42 per tonn...Read More