Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort192,75272,51248,368159,416300,003400,536420,883Change from Prior Reporting Period 7,431-1,393-2,344-4,6081,632479-2,105Traders18378794651265178 Small Speculators LongShortOpen Interest 48,15927,812448,695 -2,425159-1,946 non reportable positionsChange from the previous reporting...Read More
Gold weathered the Federal Reserve's 7th rate hike of this cycle this week. Gold-futures speculators and to a lesser extent gold investors have long feared Fed rate hikes, selling ahead of them. Higher rates are viewed as the nemesis of zero-yielding gold. But contrary to this popular belief, past Fed rate hikes have proven very bullish for gold. This latest hike once again leaves gold s...Read More
By Alasdair MacleodRegular readers of Goldmoney's Insights should be aware by now that the cycle of business activity is fuelled by monetary policy, and that the periodic booms and slumps experienced since monetary policy has been used in an attempt to manage economic outcomes are the result of monetary policy itself. The link between interest rate suppression in the early stages of the credit c...Read More
HighlightsProfessor Laurence Kotlikoff, author of the FREE book: You're Hired! says gold and silver investors could emerge victorious. What could drive PMs prices higher? Our trading "partners" are already starting to make it clear that they don't need us.Tensions between the US and key nations continues to ratchet up on the heels of Group of Seven nations talks in Canada this past weekend. The...Read More
Powell delivered and hiked again. Draghi halved the amount of purchased assets, but did not have the courage to end the quantitative easing program. Does the former have bigger cojones than the latter? And what does it mean for the gold market? Don't Worry, It's Just another Hike In line with the expectations, the FOMC acknowledged the improved economic outlook (the economy has grown at solid...Read More
- Bitcoin price in one year (June 2019)? - Bitcoin at $10,000 is the call of majority of MoneyConf poll participants- Bears see bitcoin at $0 while uber bulls see $100k/$1m (incl. Max Keiser)- Is binary and "bitcoin will likely go to zero or go much higher"- "Which cryptocurrency are you betting on in 2019?" - MoneyConf poll asks- Bitcoin, ethereum favoured in poll over ripple and litecoin- Wha...Read More
Interest rates are now a key simulator for growth in most nations. Interest rates have been used as a short-term tool as well as a medium-term tool by central banks to control growth in their nations and also control inflation. After the second world war, interest rates and interest rate futures have been the key to the direction of global financial markets be it stocks, bonds, currencies or eve...Read More
CloseGain/LossOn WeekGold $1280.50-$22.30-1.39%Silver$16.59-$0.60-1.01%XAU82.58-2.47%-0.42%HUI177.88-2.34%-0.53%GDM620.37-1.75%-0.52%JSE Gold1048.64-30.58-1.08%USD94.77-0.02+1.28%Euro116.09+0.28-1.37%Yen90.43+0.02-1.06%Oil$65.06-$1.83-1.03%10-Year2.925%-0.012-0.61%Bond144.53125+0.40625+0.43%Dow25090.48-0.34%-0.89%Nasdaq7746.38-0.19%+1.32%S&P2779.42-0.11%+0.01% The Metals: ...Read More
China's crude steel and finished steel output both rose year on year in May, helped by higher prices and improved producer margins.Steelmakers in China produced 81.13 million tonnes of crude steel last month, up 8.9% from a year ago, the country's National Bureau of Statistics (NBS) said on Thursday June 14. The country's finished steel output also...Read More
Pakistan's National Tariff Commission (NTC) has imposed anti-dumping duties on color-coated coil (PPGI) from China and South Africa, the NTC said on Wednesday, June 13. PPGI imports more than 0.23mm thick and classified under HS codes 7210.7020, 7210.7090, 7212.4010 and 7212.4090 from Chinese producers will be subject to 5.36-10.88% duty. PPGI imports of the same specification...Read More
The US billet upcharge hit another all-time high this week, fueled mostly by issues with suppliers getting material to buyers on time, combined with the continued absence of UC Rusal from the US spot market. Other premiums throughout the globe remained generally steady.US billet premium rises on lessened 6063 availabilityThe US spot extrusion billet upcharge rose to a record high of 17-19 cents pe...Read More
China's metal processing and mining equipment sectors will be counting the cost of new tariffs announced on Friday June 15 by United States Trade Representative (USTR) Robert Lighthizer.They involve $50 billion worth of Chinese exports being hit by 25% duties, additional to duties already applied. They will cover China-made exports of a wide range of metal-making and mining machinery, and a s...Read More
Brazilian pig iron export prices remained unchanged this week, but rumors of shipments being booked at lower prices have started to be heard.Metal Bulletin's weekly price assessment on Friday June 15 for Minas Gerais-origin pig iron exports was $390-395 per tonne fob, while the assessment for Caraj??s-origin pig iron on the same day was $395-400 per tonne fob.Both prices were unchanged week-on-wee...Read More
UK domestic prices for austenitic alloy steel scrap decreased this week on slowing demand and a fall in the price of nickel toward the close of last week.On Friday June 15, the London Metal Exchange three-month official nickel bid/offer spread was $15,330/15,350 per tonne, up slightly from $15,300/15,305 per tonne on June 8. However, this was down from the June 7 price of $15,755/15,760 per tonne,...Read More
The latest metal news and price moves to start the North American day on Friday June 15.Base metals prices on the London Metal Exchange were mostly lower again during morning trading despite nickel recouping some of its losses.Here's how three-month LME base metals prices...Read More
My favorite game is roulette, because I have learned to mitigate risk through diversification.Diversification is an important tool, and one that has prevented me from taking serious losses.The modern-day adage that investors should always remember is "to protect your hard-earned principal at all costs".Today I'm writing on the gaming REITs, a sector that doesn't get a lot of attention but could pr...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday June 15.Base metals prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Friday June 15, pressured by a strengthening US dollar.Check Metal Bulletin's live futures report here. LME snapshot at 03:23 London time Latest 3M LME Prices Price ($/t...Read More
• Fails to extract any support despite a combination of supportive factors. • Technical selling seems to be only factors behind the latest leg of steep decline. Gold continued losing ground through the early North-American session and tumbled back closer to YTD lows in the last hour. The precious metal extended overnight pull-back from one-month...Read More
SHANGHAI, Jun 15 (SMM) – Nonferrous metals futures dipped across the board on Friday June 15 as SHFE aluminium led the loss and closed over 1.8% lower. Lead slumped over 1.1%, zinc fell over 1%, and nickel dipped 0.82%. Tin and copper inched down.Meanwhile, the ferrous metals mostly rose. Coke jumped over 1.6%, rebar gained 0.52%, coking coal went up 0.36%, and iron ore rose 0.32%. Hot-rolle...Read More
• Trade-related headlines trigger safe-haven buying in the past hour. • A modest USD retracement/weaker US bond yields supportive of the uptick. Gold pared some of its early losses and might now be looking to build on its momentum back above the $1300 round figure mark. The precious metal extended overnight sharp retracement slide from one-month...Read More