By Craig HemkeLast week, we updated the incredible surging amount of total COMEX "Exchanges For Physical". Much has changed in the past few days, so with some additional data in hand we thought we should re-visit the topic this week. If you missed last week's post, you can find it here. Please look it over before we begin: https://www.sprottmoney.com/Blog/comex-efp-use-con... As stated last week...Read More

By RambusJust a quick update on a few of the GLD charts we've been following closely. Below is the daily line chat which shows the breakout from the blue triangle that formed as the backtest to the larger 5 point bearish falling wedge reversal pattern. The bulls tried as hard as they could but they couldn't take out the bottom rail of the falling wedge reversal pattern. Friday's decline was on h...Read More

By Avi GilburtEveryone wants to buy at the absolute bottom in any market. Yet, most actually buy at the highs, expecting much higher prices, and then sell at the lows, while expecting even lower prices. The gold market is no different.Back in 2011, when the metals were approaching their highs, most analysts were suggesting that investors keep buying gold as this would be their last opportuni...Read More

A Monday Morning Musing from Mickey the Mercenary GeologistContact@MercenaryGeologist.comThe usually suspect gold bugs and perma-bulls have been quite noisy over the last few weeks trying to convince bullion traders and stock speculators that the price of gold and ergo, the market capitalization of gold stocks are on the verge of a big break-out to the upside. And the unholy believers amongst th...Read More

Although the broad averages have risen sharply in each of the last three sessions, none of these short-squeeze lollapaloozas has recouped the even bigger losses sustained earlier in the day. Do we detect a pattern here? The biztainment media seem to wax enthusiastic whenever stocks trampoline off some ugly low like Tuesday's. But we shouldn't lose sight of the fact that if the three-steps-down,...Read More

Weaker Asian currencies have resulted in gold and silver prices not falling by much. As long as the physical gold price in India does not fall below Rs.30500 per ten grams for 22carat purity, downside risk will be limited. I do not foresee the physical gold price falling below Rs.30500 per ten grams for 22carat purity till Diwali. The Indian rupee has to gain against the US dollar significantly...Read More

By Ira EpsteinSilver's chart still ok?https://iraepstein.com/ Read More

The past week has been eventful for the crypto investment community, to say the least.On Friday, the Securities and Exchange Commission (SEC) finally declared that Initial Coin Offerings (ICOs) cannot be considered securities. This sets an important precedent in the regulatory realm.The SEC ruling is also incredibly bullish for the price of BTC and the crypto market as a whole. New all-time highs...Read More

The European Commission (EC) is introducing rebalancing measures this week in response to the US tariffs on steel and aluminium, it said on Wednesday June 20. The measures will immediately target a list of products worth ?,?2.8 billion ($3.24 billion) and will come into effect on Friday June 22. The list of US imports that will now face an extra duty at the EU border include steel and aluminium pr...Read More

North China-based Ganglu Iron & Steel (Ganglu Steel) will keep back 100,000 tonnes of its hot-rolled coil from the spot marketeach month when it starts up a new 2 million tonnes per year cold-rolled coil line later this year.According to local media reports in Tangshan city, Hebei province, on Wednesday June 20, construction work for the CRC line will be completed this month and Ganglu Steel...Read More

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil did not change over the past week, with participants retreating from the market on Tuesday June 19 following threats by United States to impose fresh tariffs on Chinese imports.Cold-rolled coilMetal Bulletin's assessment of prices for July/August shipments of SPCC 1.0mm CRC was $620-630 per tonne fob for the week ended Tuesd...Read More

Zinc prices on the London Metal Exchange settled at their lowest in nine months at the close of trading on Wednesday June 20, while copper prices continued to edge lower on a surging US dollar index. Closing below $3,000 per tonne for the first time since August 2017, zinc prices fell to a low of $2,981 per tonne over the afternoon, shedding more than 6% of its three-month price week on week. ...Read More

Over-eager zinc bears have contributed to a ballooning backwardation in London Metal Exchange price spreads, having bet prices would drop further and sooner than fundamentals have allowed. The LME cash/three-month zinc price spread swung into a $43 per tonne backwardation on Monday June 18, from $30 per tonne backwardation on June 12 and a $3 per tonne contango at the end of May. The spreads have...Read More

SHANGHAI, Jun 21 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index climbed above 95 and closed at 95.12 on Wednesday. US treasury yields also rose slightly after Federal Reserve Board chairman Jerome Powell saidthat there was a "strong" case to continue raising interest rates.“Earlier in the expansi...Read More

New lows for 2018.A bearish time of the year for gold.Rate hikes could be bearish, and the dollar is weighing on gold.Gold in euros and yen is strong.Trade issues - Bullish or Bearish?Just like in 2016 and 2017, gold came out of the gate at the start of 2018 and moved to the upside. However, in 2016 and 2017, gold never looked back and the lows of the year occurred during the first trading session...Read More

Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe are unchanged over the past week, sources said on Wednesday June 20.The Southern European domestic price for mesh-quality wire rod held at ?,?520-535 ($602-620) per tonne delivered on June 20 from a week earlier."Mills are looking to push prices up but this hasn't happened yet - the expectation is...Read More

SHANGHAI, Jun 20 (SMM) – Nonferrous metals futures, except for SHFE tin, inched down across the board on Wednesday June 20. The ferrous complex mostly gained. Hot-rolled coil went up over 1%. Rebar and coke edged up. Coking coal fell nearly 1%, and iron ore closed slightly lower.  Copper: The SHFE 1808 contract hovered around the daily moving average within a range of 100 yuan...Read More

Prices for rebar produced and delivered in Northern Europe are unchanged over the past week amid stronger demand and reduced stock levels, sources told Metal Bulletin on Wednesday June 20.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe held at ?,?535-545 ($620-631) per tonne delivered on Wednesday."We can see that demand is coming back but it has not exactly spiked,"...Read More

The latest news and price moves to start the Asian day on Thursday June 21.Zinc prices on the London Metal Exchange settled at their lowest level in nine months at the close of trading on Wednesday June 20, while copper prices continued to edge lower on a surging United States dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:The Europe...Read More

The latest metal markets news and price moves to start the North American day on Wednesday June 20. Base metals on the London Metal Exchange mostly ticked higher during morning, with nickel prices climbing 1.2% to recover from Tuesday's lull. Bucking the trend, however, copper prices continue to edge lower and have shed more than 5% on the week, reaching a three-week low during the morning of $6,8...Read More