Wepreviously wrote that while it was tempting to bet on crude oil’s prices due totheir weakness, it was not a good idea from the risk to reward point of view,as black gold didn’t invalidate the breakout above the early-March high. And itwas definitely a good idea not to enter a short position then either – crudeoil moved higher since that time. Atthe moment of writing these words...Read More

Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More

Sales of passenger cars in the EU will fall by 25% year on year in the full 2020 because of the Covid-19 pandemic, the European Automotive Manufacturers Association (ACEA) said on Tuesday June 23.The major economic crisis facing the auto industry will see car sales in the European Union tumble by more than 3 million units, with only 9.6 million units expected to be sold this year, compar...Read More

A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The Chinese capital has registered more than 230 new Covid-19 cases since June 11 after a spate of infections traced to the Xinfadi wholesale food center in the sout...Read More

Dave Kranzler, Investement Research Dynamic's Mining Stock JournalWhere's the "V?" - Obviously the Fed has injected monetary cocaine into the stock market to make it appear as if stocks are "discounting a "V" economic recovery. But a "V" on Main Street is nowhere to be found (graphic is from Crescat Capital -the comment bubble is my edit):The chart above plots the NY Fed's weekly index of e...Read More

In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed's Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until last week, the Secondary Market Credit F...Read More

Keith Weiner, Monetary MetalsWe are reading now about possible regulations for air travel. In brief: passengers might be forced to spend hours at the airport. Authorities will perform medical checks, including possibly needles to draw blood, no lounges, no food or drink on board the plane, masks required at all times, and even denied the use of a bathroom except by special permission.We would wa...Read More

Factors affecting metals markets 1. There will be position squaring and rebuilding before the Federal Reserve chairman's testimony before the US senate on 30th June. Powell will testify on coronavirus response. 2. Quarter end position squaring and rebuilding is still going on. 3. Trader's dilemma is to choose between economic progress or second wave of coronavirus. This has res...Read More

By: Ira EpsteinGold's taking over to a new record high for several years!Read More

Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More

A summary of base metals premiums from across the globe for the week to Tuesday June 23.Read More

Hong Kong's Noble Group notched a $206 million loss in the first quarter of 2020, with the company citing the breaking of supply chains due to the Covid-19 outbreak as the key reason for the slump, the trading group announced on Tuesday June 23."Q1 was dominated by the impact of the Covid-19 pandemic, which has had far-reaching implications for every business and sector, including ours," Noble cha...Read More

Sales of passenger cars in the EU will fall by 25% year on year in the full 2020 because of the Covid-19 pandemic, the European Automotive Manufacturers Association (ACEA) said on Tuesday June 23.The major economic crisis facing the auto industry will see car sales in the European Union tumble by more than 3 million units, with only 9.6 million units expected to be sold this year, compar...Read More

Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More

The aluminium duty-paid market in Europe is set to come under increasing pressure due to fears of excess stock arriving from Canada and a weak Japanese market. On Monday, Bloomberg reported that the United States is considering re-imposing tariffs on aluminium imports from Canada, according to people familiar with the matter. An announcement could be made by the end of the week. Sources told...Read More

A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The Chinese capital has registered more than 230 new Covid-19 cases since June 11 after a spate of infections traced to the Xinfadi wholesale food center in the sout...Read More

The London Metal Exchange three-month zinc price declined during morning trading on Tuesday June 23 on poor United States home sales figures and US-China trade concerns, while continued stock drawdowns in copper pushed the metal's price higher. LME zinc's outright price was recently at $2,051 per tonne, falling from a morning high of $2,088 per tonne, while turnover was at more than 4,000 lots as...Read More

Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSInvestors are about to overwhelm the silver market, and they'll learn there's not really all that much silver in the world. Why, and what happens next? Steve St. Angelo of SRSrocco Report interviewed by Half Dollar of Silver DoctorsInvestment in physical silver is about to overwhelm the markets, and i...Read More

They're trying to keep silver's price in check as demand for physical is intensifying...by Harvey Organ of Harvey Organ BlogJUNE 22//GOLD UP $14.00 TO $1741.00//SILVER UP 15 CENTS TO $17.79/COMEX GOLD TONNAGE STANDING; 164 TONNES/HUGE PAPER DEPOSIT OF GOLD INTO GLD OF 23.09 TONNES///JEFF BERMAN REMOVED AS ATTORNEY GENERAL OF NY// TOM LUONGO ON THE GERMAN AFFAIR: A MUST READ//CORONAVIRUS REPORTS FR...Read More

Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was "fully intact". The fact that a White House official said it was "over" only to retract that later suggests there have at least been discussion...Read More