The metals complex showed relative stability this week asthe oil market suffered a historic meltdown. West Texas Intermediate Crudecrashed 70% at one point this week on the continuous contract, bringing pricesbriefly below $7 per barrel. By Thursday, prices were trading between $14 and$18 per barrel.The volatility on the May futures contract was even moreextreme. On Monday, May futures for crude o...Read More
It is reasonably well known that many Romanemperors debased their currency (coinage). This was a very bad practice, sinceit is really a reflection of the debasement of the value of the kingdom (empireor country); going from a honest and just society to a corrupt and unjustsociety.One of the reasons (effects) of debasing thecurrency was the transfer of wealth from the citizens to the ruling class....Read More
The gold miners’ stockssurged to a major bull-market breakout this week! Powering decisively above their years-oldsecular resistance is a hugely-important technical event. It proves this gold-stock bull is alive andwell, greatly improves sentiment, and puts this high-flying sector on countlessmore traders’ radars. New bull highs fuelself-feeding bullish psychology, as...Read More
Maurice Jackson of Proven and Probable speaks with Andy Schectman, president of Miles Franklin Precious Metals Investments, about the present situation with physical precious metals.Maurice Jackson: Today, we're going to discuss precious metals premiums, the COMEX and the big picture. Joining us for a conversation is Andy Schectman, the president of Miles Franklin Precious Metals Investments. Andy...Read More
With the supply/demand balance moving in favor of miners, the outlook for uranium stocks is the brightest it has been in years, according to McAlinden Research Partners. SUMMARY: Uranium has been enjoying a stealth bull market due to the coronavirus outbreak. Temporary mine closures to slow the spread of the virus at production facilities have triggered an unexpected supply squeeze, sending the pr...Read More
There are as many ways to play the PM sector as there are investors. Some will only buy the big cap PM stocks for safety. Others will only buy the mid cap producers. Some will only buy a mix of big caps and mid cap producers. And then there are the PM stock investors that will only play the juniors. Each has its own advantage depending on your risk tolerance. Some of you are wondering why is Rambu...Read More
Chris Vermeulen, CEO & Founder of Technical Traders Ltd., joins Tom Bodrovics at Palisade Radio to discuss the markets and Chris says, “This is the time to really be paying attention to the markets… It could be a bloodbath.”Chris is seeing uncertainty that could bring equities lower as money is flowing into safe havens. The charts are showing that markets are approaching a m...Read More
Gold stocks are the crazy ride in the markets. The swing are so great it does not matter if you miss a bullish the break out as another deep pull back allows you to enter with ease. The good news is the (!XAU) PHLX Gold/Silver Index (in the chart below) is very friendly to price cycles. These cycles can be used for timing markets, it also makes it clear if you fight the price cycle you may be in l...Read More
Well boys and girls The Straits of HELL have just been breached, JUMPED with a GAP, which leaves us with one of the LARGEST Island Bottoms of all times, IF not the largest.To me that signifies that whomever they are, Monetary or Governmental Authorities, Et Al, have lost control.and that Precious Metals will do as they need to, based on the leadtime of the GDX.Good Luck All, BREAK A LEG !! The G...Read More
From the unimaginable lows, crude oil isshaking off the dust. Moving higher, can it rise like a phoenix?Before moving to thetechnical part of today’s analysis, it seems that a quote from yesterday’s OilTrading Alert would be appropriate:Crude oilwas just trading below 0. Well, not completely, but the nearest futurescontract was trading below 0 for the first time ever. In case you misse...Read More
There are times to keep being focused on highertimeframes, yet the finer ones do send valuable signals at times too. Andtoday, every precious metals investor better pay attention to their message.Take a look at the below chartfeaturing the miners. We will compare the juniorminers to what GLD ETF and SPY did. The latter are ETFs representing gold and the S&P 500. Wezoomed in to the 2-hour char...Read More
The recent economic reports show that the current coronavirus crisis will be bigger than the Great Recession. What does it imply for the gold market? US Economic Data Paints a Gloomy PictureThis week was full of new reports about the US economy. And guess what, I don’t have good news… First of all, let’s start with the update about the weekly initial unemployment benefits. In no...Read More
Import prices for flat-rolled steel were either stable or higher in South America during the week to Friday May 15, with Chinese mills presenting more expensive offers while customer interest remained lackluster amid lockdowns due to Covid-19."There were no consultations for potential imports in the past few weeks in Brazil," a trader source said. "I call clients and they don't even want to listen...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ended Friday May 15.China The UG2 chrome ore market rose once again after Chinese alloy producers with low stocks accepted higher offers. Import charge chrome prices moved up on supply tightness affecting availability. Domestic ferro-chrome spot prices climbed up on bullish sentiment following increases in...Read More
Most secondary aluminium alloy prices in the United States, including the benchmark A380.1, edged down on Thursday May 14, with producers expecting a slow recovery in demand despite automakers restarting production this month.Fastmarkets assessed aluminium alloy A380.1, delivered Midwest at 66-67 cents per lb on May 14, narrowing downward by a penny from 66-68 cents per lb one week...Read More
The stainless sector in the United States and Europe, Middle East and Africa (EMEA) region will consume 13% less nickel this year, while that in China will fall by just 4% versus 2019, according to Nornickel. Nornickel expects the stainless sector - the key end market for nickel - in the US to log a 13% drop in demand for the metal this year, far exceeding the 6% global decline vers...Read More
The US Midwest aluminium premium declined on the high end of its range on Friday May 15, with participants valuating the premium lower while demand in this market remains frail.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 8-9.5 cents per lb on Friday, down by a half-cent on the top end of the range from 8-10 cents per lb previously, where the premium had held since April 24...Read More
Engineering consulting and management practice Zimile Consulting Engineers intends to diversify into the mining sector and believes that it is equipped and skilled to deliver quality service, says Zimile Consulting Engineers COO Fergus Feltman.“Given the scale and nature of work that the company has done over the years for other sectors, Zimile Consulting Engineers seeks to offer value-addin...Read More
The Covid-19 pandemic is likely to lead to another casualty: the mega mine. The volatility created by crises like Covid-19 is adding a layer of uncertainty to the development of large-scale projects that take a decade or more to progress and are highly capital intensive, according to Tom Albanese, the former chief executive officer of Rio Tinto.This means that mining projects are likely to be deve...Read More
The three-month copper price on the London Metal Exchange fell by 0.54% to close at $5,181.50 per tonne on Friday May 15.All the base metals remained under pressure on Friday and despite copper reaching an intraday high of $5,272 per tonne, it failed to maintain momentum and closed below the $5,200-per-tonne threshold with a turnover of just under 14,000 lots.Total copper stocks stood at 278,750 t...Read More