HOW NATIONS CAN BYPASS AMERICA IMPOSED TRADE SANCTIONS After the "Second World War" and the formation of World Trade Organization (WTO), the USA has used the phrase "Trade Sanctions" for nations to do everything which it wants. "Trade Sanctions" is basically a nation not able to buy or sell in the global market. Only the USA and Russia can survive by being a closed economy. The rest of the count...Read More
LONDON (Reuters) - Europe’s top asset management trade body on Thursday added its voice to growing concerns about the impact of new European Union fund disclosure rules, saying they were causing “serious detriment” to retail investors.The EU’s Packaged Retail Investment and Insurance Products directive went live in January and aims to give investors a better idea of a fund&...Read More
The recent Alchemist includes an interesting article about hedging. Should mining companies hedge their gold production? Or should we use gold as hedge? Of course, we should. But against what? The WGC argues that the yellow metal is a hedge against emerging market risk. Is it true? Hedging on the Up As usual, there are several interesting articles in the latest issue of the LBMA's Alchemist, w...Read More
By Craig HemkeFor the reasons we've discussed over the past several years, the U.S. yield curve continues to flatten, with Wednesday seeing new, 11-year low spreads. As you know by now, this has significant long-term implications. Let's start with the latest update. Below are snapshots of the current yields for the 2-year note and the 10-year note. Subtract the 2-year yield from the 10-year yie...Read More
WASHINGTON, (Reuters) - The U.S. economy slowed more than previously estimated in the first quarter amid the weakest performance in consumer spending in nearly five years, but growth appears to have since regained momentum on the back of a robust labor market and tax cuts.Gross domestic product increased at a 2 percent annual rate in the January-March period, the Commerce Department said on Thursd...Read More
If there were any doubts that the Chinese stockmarket had entered a bearmarket, these were dispelled by the breach of key support at 3000 and plunge last week, which we can see to advantage on the 6-month chart for the Shanghai Composite index shown below. A tentative downtrend channel is drawn on this chart, but it is important to note that this drop could rapidly gather momentum and get a lot...Read More
Russia and Turkey's moves out of U.S. debt and into the precious metal could be precursors of a bigger global shift.by Leonid Bershidsky of BloombergU.S. government debt and the world's foreign exchange and gold reserves. Source: BloombergSince December 2017, Russia has cut its holdings of U.S. foreign debt by more than half.Instead, it's been increasing the share of gold in its international re...Read More
China's ferrous futures fluctuated in a small range during morning trading on Thursday June 28. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,738 yuan ($566) per tonne, down 10 yuan per tonne October hot-rolled coil: 3,873 yuan per tonne, down 3 yuan per...Read More
Prices for CIS export billet fell on Thursday June 28 due to slow trading in the country's key markets of Turkey and the wider Middle East, sources told Metal Bulletin.Metal Bulletin's CIS billet export index was $518 per tonne fob Black Sea on Thursday, compared with $520 per tonne fob Black Sea on June 27.CIS mill offers were predominantly around $520-525...Read More
BEIJING (Reuters) - China said on Thursday it would renew efforts to crack down on property irregularities in 30 major cities this year, mobilizing powers from seven major Chinese government agencies in a concerted effort to rein in rising prices.The property market has been heating up lately, despite intensifying official curbs, prompting several local governments to announce new rules this month...Read More
"The market has been looking overheated ever since 2012 when we saw the upsurge that has been going on now for almost six years. And it looks like it's still going up." Robert Shiller is an American economist, academic, and best-selling author. He currently serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Fin...Read More
China's domestic rebar market on Thursday June 28 recovered some of the losses from the past few days after futures spiked, though demand remained weak. Domestic Eastern China (Shanghai): 3,980-4,020 yuan ($603-609) per tonne, up 30 yuan per tonne Northern China (Beijing): 3,870-3,910 yuan per tonne, up 30 yuan per tonne Rebar futures started the day at relatively high levels having risen sharply...Read More
Trader Peter Hug discusses the key price levels to watch in the gold market going into next week.Read More
(Reuters) - U.S. stock index futures rose slightly on Thursday, after China approved a U.S. chipmaker deal and Accenture posted strong results, but uncertainty about Washington's trade stance with China weighed on the mood.Chipmaker Marvell Technology jumped 11.8 percent in premarket trading after the company said it got Chinese regulatory approval for its $6 billion acquisition of smaller rival C...Read More
Flat steel production in Turkey is expected to remain strong in the rest of 2018 thanks to the strong demand locally and abroad, sources told Metal Bulletin this week.The country produced 5.17 million tonnes of slab - which is used to produce flat steel products - in the January-May period, up 7.12% from 4.83 million tonnes a year earlier, according to the Turkish Steel Producers Association (T???...Read More
MONTREAL, June 28, 2018 (GLOBE NEWSWIRE) - SEMAFO Inc. (TSX:SMF) (OMX:SMF) is pleased to report that it has completed its first gold pour at the Boungou Mine in Burkina Faso, slightly ahead of the original schedule. The first pour yielded approximately 325 ounces of gold.Dry and wet commissioning of the Boungou processing plant are now complete, as is its construction. The vertimill and SAG mill a...Read More
Is it possible to separate politics and economics?Mike "Mish" Shedlock a registered investment advisor, representative for Sitka Pacific Capital Management and he operates one of the most popular websites about the economy and investing online: MISH'S Global Economic Trend Analysis.Read More
Liberty Gold's Goldstrike ProjectLiberty Gold Corp. (LGD:TSX) started off the new year with a bang and has continued to focus on its three gold exploration projects: Goldstrike, Black Pine and Kinsley, all located in the sweet spot known as the U.S. Great Basin. The company announced additional drilling results from the western and dip slopes zone of the Goldstrike project in western Utah, which w...Read More
BEIJING (Reuters) - China's central bank said on Thursday that it will keep its prudent monetary policy neutral, neither too tight nor too loose.The People's Bank of China will keep liquidity reasonably ample and guide reasonable growth of credit and social financing, the bank said in a statement after a second-quarter meeting of its monetary policy committee.The central bank also pledged to deepe...Read More