The gold price made a new 2020 high today and looks poised to take out the nominal all-time high around $1,920 and then challenge $2,000 in the months ahead. Some are even estimating that gold could climb to $3,000 by year-end on account of the nearly $10 trillion in new money/debt/stimulus that is being created in the US alone to fight the pandemic.This 2020 gold price target of $3,000 is a littl...Read More

Precious metals have been on our radar for many months and, if you’ve been paying attention, you probably already know our research suggests Gold and Silver are one of the best investments you can make right now.  Recently, we shared this article suggesting Gold would need to rally above our proprietary Fibonacci Price Amplitude Arc (GREEN Arc) level near $1745 before it would attempt a...Read More

Sales of passenger cars in Europe dropped by 76.32% year on year in April 2020, making it the fourth consecutive month of declines. New car sales in Europe totaled 270,682 vehicles in April 2020, down from 1,143,046 units sold in the corresponding month of 2019, the European Automotive Manufacturers Association (ACEA) said on Tuesday May 19. Read More

Mike Gleason (Money Metals Exchange): It is my privilege now to interview our good friend, Greg Weldon,CEO and President of Weldon Financial. Greg has decades of market research andtrading experience specializing in the metals and commodity markets and he evenauthored a book back in 2006 titled Gold Trading Boot Camp wherewe accurately predicted the implosion of the U.S. credit mark...Read More

Crude oil soared higher yesterday and also intoday’s pre-market trading, which shows you why it was a good idea to remaincautious yesterday, even despite crude oil’s breakdown below the rising supportline.  We previously wrote the following:We saw a tiny breakdown onWednesday, but it was not based on the decisive move lower, but rather based onthe fact that time passed and the ne...Read More

Production at Bosnian steelmaker ArcelorMittal Zenica has been interrupted by a strike, with unions protesting against temporary layoffs, sources told Fastmarkets on Tuesday May 19.The strikes were called on May 19 and affected all operations at the Zenica site except for the coking plant, sources said. The unions did not disclose how long the strikes will last....Read More

With three very impressive advanced stage silver projects coming online over the next three-four years (Juancipio: 2020, Las Chispas: 2022, and Corani: 2023/2024), what comes after? This leaves very few silver projects to be excited about. There are a very large number of higher-grade deposits that are relatively small (i.e. those owned by Alexco Resource and Aurcana) and a larger number of low-...Read More

Graceland Updates By Stewart Thomson 1. To view an important weekly gold chart, please click here now. Double-click to enlarge. Gold is consolidating after reaching substantial resistance in the $1800 area. 2. There was wild gyration in 2012 around that resistance zone and a breakdown that disappointed investors.3. In contrast to the price action then, the world's "Queen o...Read More

By Hubert Moolman In my previous article, I've written about how important US dollar movements are for future Silver prices. The chances of a significant Silver rally during US dollar strength is very low; and it is very high during US dollar decline. The structure of the Silver bull market since 2001 has a lot in common with that of the 70s bull market. However, one of the important differenc...Read More

Ted Butler Having focused intently on the running open losses of the 8 big shorts (ex-JPM) for the past year, the latest price surge would seem to put the 8 big shorts in particular serious jeopardy. Simply put, the open losses ($7.8 billion, as of Friday, May 15) have never been larger, while the prospects for the big shorts buying back all or most of their short position at anywhere near brea...Read More

By: Ira Epstein Vaccine hopes yesterday helps markets. Gold was initially up on the Fed Chair's comments but then after the vaccine news, it took gold and silver from its highs. But the current set-up...Read More

Swedish state-owned iron-ore producer LKAB has confirmed that all production at its Kiruna mine has stopped following a seismic event on Monday, the company said on Tuesday May 19. All production has stopped after a seismic event, with a magnitude of 3.3, occurred at 3:11am on May 18, with no forecast as to when it will resume and an intensive inspection of the mine now underway, the company said....Read More

German diversified industrial group Thyssenkrupp has detailed its restructuring plan, confirming plans to sell shares in its steel business and sell or close its heavy plate sites. Thyssenkrupp released an update on Tuesday May 19 on its realignment strategy initiated last year after a failure of a joint venture with Tata Steel. Challenges resulting from the Covid-19 crisis have made the group spe...Read More

Here are five Fastmarkets stories you might have missed on Tuesday May 19 that are worth another look.German diversified industrial group Thyssenkrupp has detailed its restructuring plan, confirming plans to sell shares in its steel business and sell or close its heavy plate sites.Swedish state-owned iron-ore producer LKAB has confirmed that all production at its Kiruna mine has stopped following...Read More

A summary of base metals premiums from across the globe for the week to Tuesday May 19.Please click...Read More

Ferrous scrap prices in Mexico rose for certain grades on thin deals and low availability, while some price cuts were announced in both Baj?-o and Monterrey regions.Local steel producers avoided announcing price changes last week, but market participants reported purchases being made at higher prices.Fastmarkets' assessment of the consumer buying price for No1 heavy melt, delivered mill Bajio rose...Read More

The CIS export billet market remained bullish early this week, with demand from China continuing to support prices after a plunge in interest from Turkey at the end of last week.Market participants reported offers of CIS-origin billet to China at $385-400 per tonne cfr, which would net back to $355-370 per tonne fob for cargoes to be shipped from the Black Sea basin.Some market participants said t...Read More

Here are five Fastmarkets stories you might have missed on Tuesday May 19 that are worth another look.German diversified industrial group Thyssenkrupp has detailed its restructuring plan, confirming plans to sell shares in its steel business and sell or close its heavy plate sites.Swedish state-owned iron-ore producer LKAB has confirmed that all production at its Kiruna mine has stopped following...Read More

How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...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