The gold bull market ended 2019 with a strong gain of 19%. The first half the year was marked with uncertainty as the price after an early year surge to $1350 gave up all of it's gains to drift lower to trade down on the year by early May. However, this was the calm before the bull market storm and that set the stage for a powerful bull run starting early June that saw the Gold price rocket higher...Read More

Evercore ISI lifted its price target to $404 from $342Adobe Inc (NASDAQ:ABDE) is brushing off a bull note from Evercore ISI this morning, just one session after hitting an all-time high of $349.95. Specifically, the analyst raised its price target to $404 from $342 -- a roughly 15% premium to Friday's close. At last check, ADBE is down 1.2% at $345.40.The equity has been on a tear after breaking o...Read More

Investors are keeping an eye on the virus outbreak in AsiaThe Dow Jones Industrial Average (DJI) could be set to snap its five-day winning streak today, as U.S. stock futures trade below fair value. Traders are monitoring the effects of the coronavirus outbreak in China, which is putting pressure on travel stocks this morning. Investors are also taking in headlines from the World Economic Forum in...Read More

There's a key VIX level to watch in the coming weeks"The S&P 500 is on one of its longest streaks without a 1% daily move in the past five decades, highlighting how the latest leg of the stock-market rally has been a gradual climb rather than a euphoric surge. The broad equity gauge hasn't moved 1% or more in either direction since mid-October, its sixth-longest streak since the end of 1969 and th...Read More

Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year. The decision is in line with the International Organization of Securities Commissions (IOSCO) principles for PRAs, which sets out global standards for orderly and fa...Read More

China's steel refining and rerolling industry's capacity utilization rate was 80.2% in the fourth quarter of 2019, above the national industrial average of 77.5%, according to figures from the country's National Bureau of Statistics (NBS) released on Friday January 17.The country's industrial capacity utilization rate of 77.5% was 1.5 percentage points higher than the corresponding period a year e...Read More

The Minas Gerais state prosecutors' office, MPMG, has charged miner Vale, consulting company T?oeV S?oeD and 16 people - including former Vale chief executive Fabio Schvartsman - for homicide and environmental crimes, according to a document made public on Tuesday January 21.The charges are related to the disaster in Brumadinho on January 25, 2019, when the rupture of a tailings dam in Vale's C??r...Read More

Hot-rolled coil prices in the United States might have peaked on high output and market predictions that ferrous scrap prices might weaken in February, some sources warned.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.69 per hundredweight ($593.80 per short ton) on Tuesday January 21, down by 0.8% from $29.94 per cwt on Friday January 17 and down by 2.7% from $3...Read More

Jim Willie CB, editor of the "HAT TRICK LETTER" Subscribe: Hat Trick Letter Use the above link to subscribe to the paid research reports, which include coverage of critically important factors at work during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces. The historically unprecedented ongoing collapse has be...Read More

- Clive MaundAt first glance gold looks like it may be about to advance out of a bull Flag, but there are a number of factors in play that we will examine which suggest that any near-term advance won't get far before it turns and drops again, and that a longer period of consolidation and perhaps reaction is necessary before it makes significant further progress.On the 6-month chart we can see ho...Read More

1. Chinese New Year buying and more deaths in war-torn Yemen have ignited yet another solid rally in gold.2. Please click here now: https://gracelandupdates.com/wordpress/wp-content/uploads/2020/01/2020jan21gold1.png Double-click to enlarge. Gold is staging a breakout from an irregular bull flag pattern and doing so from strong support in the $1550-$1530 zone. 3. I'm projec...Read More

StrengthsThe best performing metal this week was palladium, up 17.92 percent on tight supplies and strong demand. One-week lease rates for palladium rose for a seventh day to 32.56 percent. The majority of gold traders and analysts were bullish on gold in the weekly Bloomberg survey, as attention turns to the next stage of the U.S.-China trade deal. Turkey's gold reserves rose $478 million from...Read More

Clint Siegner, Money MetalsNarayana Kocherlakota, the former President of the Federal Reserve bank of Minneapolis wants you to know the Federal Government can never borrow too much money.Our government already borrowed $23 trillion and deficits are expected to exceed $1 trillion per year. He knows many Americans feel anxious about the federal government going bankrupt, and he has a simple soluti...Read More

I've been a hardcore deflationist for so long that it took a wake-up call from the always astute Jesse Felder to jolt me out of my complacency. His latest report is headlined Dr. Copper Could Soon Deliver a Diagnosis of Inflation, and it's an eye-opener. The chart accompanying Felder's think-piece suggests that copper futures have been developing thrust for the last several years that could l...Read More

The IMF now sees growth at 3.3% this year, down from 3.4% and also cut the 2021 forecast to 3.4% from 3.6%. Yet it still lifted the outlook for China to 6%. Slower growth rates imply lower interest rates. Low interest rates along with high inflation will result in continued rise on gold investment demand for the rest of the year. If gold price rise sharply and silver lags, then retail investor...Read More

A summary of base metals premiums from across the globe for the week to Tuesday January 21.Please click...Read More

Prices for steel plate in the United States were flat after producers continued to experience slow bookings in the new year.Attaining the full extent of announced price hikes has posed a challenge for mills after some buyers stocked up in the early stages of an upswing that started in December 2019. A post-New Year's bounce has been elusive so far, with distributors reporting that material has bee...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday January 21 that are worth another look.China's hot-rolled coil market was quiet on January 21, with producers suspending their operations before the Chinese New Year, while concerns have emerged over post-holiday demand due to the spread of a mysterious respiratory virus that has claimed several lives.SolGold chief executive off...Read More

The London Metal Exchange will on February 1 introduce a reporting process that will increase transparency into levels of off-warrant stocks. The exchange announced the plans in November 2019 and aims to attract more metal back in LME sheds. It is controversial, but its passage into the LME rulebook on February 1 follows a consultation last year. Some market participants are now saying the LME sho...Read More

Zinc and lead smelter Nyrstar has appointed Simon Dent, a longtime sales manager and trader, as its new head of commercial as of January 2020.The role will see Dent leading a commercial team that is responsible for all acid and byproduct...Read More