* German SPD leader “waiting to see” on new election* Political uncertainty bolsters Bunds* Euro zone bond yields broadly lower* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr* Germany's Bund yield this year: reut.rs/2N0uhwx (Updates prices)By Dhara RanasingheLONDON, June 27 (Reuters) - Germany’s government bond yields fell towards recent one-month lows on Wednesday as...Read More

Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe remained largely unchanged over the past week, sources said on Wednesday June 27.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Northern Europe widened downwards by ?,?5 per tonne on Wednesday at ?,?530-545 ($619-636) per tonne delivered, compared with ?,?535-5...Read More

WASHINGTON (Reuters) - The Canadian government would like to see construction accelerate on the Trans Mountain pipeline expansion, but has no control over decisions to resume or start new work until it takes ownership of the major crude oil pipeline project, Canada’s natural resources minister said.“We think that construction and staying on a schedule is important, but that will be up...Read More

(Reuters) - Police chiefs from across the United States, both Republicans and Democrats, on Wednesday urged U.S. legislators to find alternatives to the detention of immigrant families given the risks it poses to children and its huge cost.In a joint letter, more than 45 law enforcement heads appealed to legislators to consider other possibilities than incarceration, such as requiring heads of hou...Read More

PARIS (Reuters) - In his first year in office, French President Emmanuel Macron has had some big wins - he’s changed labor rules to make hiring and firing easier, stared down unions to overhaul the state-run rail company and tamed the budget deficit for the first time in a decade.But there is one area in which the restless 40-year-old is having less success - his sometimes abrasive manner se...Read More

Prices for domestic hollow steel sections narrowed in Northern Europe this week as mills prepared to push up prices, sources told Metal Bulletin on Wednesday June 27.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe narrowed by ?,?5 per tonne to ?,?640-650 ($747-759) per tonne delivered on Wednesday June 27, from ?,?6...Read More

WASHINGTON (Reuters) - The U.S. Justice Department is set to grant antitrust approval for Walt Disney Co (DIS.N) to acquire most of Twenty-First Century Fox Inc’s assets (FOXA.O) as early as Wednesday, a source familiar with the matter said.Earlier this month, Comcast Corp (CMCSA.O) offered $65 billion to lure Fox away from the Disney deal, setting up a bidding war between two of the largest...Read More

Turkish steel mills have resumed their deep-sea scrap purchases with slightly lower prices, sources said on Wednesday June 27.A steel producer in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $353 per tonne and 5,000 tonnes of bonus at $368 per tonne cfr late on Tuesday June 26.Most market participants were expecting steel mills to resume buying...Read More

Iron ore prices remained largely rangebound on Wednesday June 27, though those for high-grade fines and lumps continued to strengthen.Metal Bulletin 62% Fe Iron Ore Index: $64.60 per tonne cfr Qingdao, down $2.02 per tonneMetal Bulletin 58% Fe Premium Index: $52.49 per tonne cfr Qingdao, down $0.28 per tonneMetal Bulletin 65% Fe Iron Ore Index: $90.60 per tonne cfr Qingdao, up $0.20 per tonneMetal...Read More

NEW YORK (Reuters) - The United States’ friendlier stance on its trade relationship with China led global stock markets slightly higher on Wednesday, despite a 2 percent slide in Chinese equities, and drew the U.S. dollar toward its second straight day of gains.U.S. President Donald Trump’s administration unveiled a plan for a stronger security review process of foreign investors acqui...Read More

UNITED NATIONS (Reuters) - The United States cut a $2 million pledge for the United Nations Counterterrorism Office on Wednesday and downgraded its presence at a conference on the issue, the Trump administration’s latest move to use funding to push for reform of the world body.The funding cut was made over a decision by the U.N. counterterrorism chief, a former Russian diplomat with more tha...Read More

WASHINGTON (Reuters) - Contracts to buy previously owned homes unexpectedly declined for the second straight month in May, mostly due to a shortage of properties for sale.The National Association of Realtors said on Wednesday its pending home sales index fell to a reading of 105.9, down 0.5 percent from the prior month. April’s 1.3 percent decline was unrevised.Economists polled by Reuters h...Read More

 CloseGain/LossGold $1251.80-$7.10Silver$16.05-$0.25XAU79.93-0.69%HUI170.45-1.43%GDM607.67-0.74%JSE Gold1032.87+8.41USD95.34+0.63Euro115.56-0.91Yen90.79-0.16Oil$72.76+$2.2310-Year2.828%-0.052T-Bond145.21875+0.96875Dow24117.59-0.68%Nasdaq7445.08-1.54%S&P2699.63-0.86%  The Metals: Gold edged up to $1259.90 at about 8AM EST, but it then drifted back lower into the close and en...Read More

By Ryan WildayThose key levels were $7075 and $505, the May 28 lows.And, while it did bring bitcoin down hard, we've seen very little decline in ethereum. I had suggested in previous writings and on my Korelin Report discussions that we've seen some fledgling signs of decoupling in some alt coins from bitcoin movements since April. This is further evidence.Not only did bitcoin break $7075 but pl...Read More

By Keith WeinerA gold bond is debt obligation that is denominated in gold, with interest and principal paid in gold. As I will explain below, it's a way for the issuer to pay off its debt in full, and there are other advantages.Sometimes, I find that it's helpful to show a picture of what I'm talking about. At the Harvard Club in New York, an old gold bond is hanging on the wall among other memo...Read More

By Jordan Roy-Byrne CMT, MFTA We do not focus too much on the US dollar because in the big picture Gold usually leads movements in the dollar. As it pertains to the present, Gold's failure to breakout (while the dollar made two new lows since the summer 2016 peak in Gold) implies that the dollar, at worst is not going much lower anytime soon. At best, it could signal that the dollar's bull mark...Read More

In yesterday's intraday Alert, we explained why the short-term outlook for the precious metals changed from bearish to neutral and we took profits from our short positions. It was not just the fact that the price targets were reached for gold and silver. The key to the change in the outlook was seeing the confirmations from gold's performance relative to the USD Index and from the mining stocks'...Read More

Being huge, consequential and technologically advanced, China isn't normally lumped into the "emerging" category with Brazil and Argentina. To most observers they've already left the kids table and are now seated with the developed-world adults. But that might be premature. A big part of China's economic ascendance was purchased with borrowed money - including a lot of US dollars - and came at t...Read More

- London house prices down 1.9 per cent in Q2 (yoy)- London house prices still 50% above 2007 bubble peak (see chart)- Brexit and weak consumer confidence to blame say experts- Little sign that U.K. property "weakness" is likely to change- London property bubble appears to be burstingFrom Bloomberg:U.K. house-price growth has slowed to the weakest pace in five years, while London values are...Read More

China's ferrous futures largely trended downward during morning trading on Wednesday June 27 on weaker sentiment, dampening trading activity in the spot market. Uncertainty over China's monetary policy adjustments and a brewing global trade war were among the factors weighing on sentiment.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,699 yuan ($563) per tonne,...Read More