Turkish steel producers extended their silence in the deep-sea scrap markets on Monday July 2, but are expected to resume buying soon for August deliveries.However, the producers are waiting to see the level of demand for finished steel products before buying more scrap, according to market participants."Turkish mills ended their July bookings and will probably wait for a while to see the...Read More
Pig iron export prices from Brazil remained unchanged last week, with most producers were already sold out amid rebounding domestic demand. Metal Bulletin's weekly price assessment for pig iron exports from Brazil was $390-395 per tonne fob for material from the northern Caraj??s region on Friday June 29, while the assessment for south-eastern Minas Gerais region was $375-380...Read More
CloseGain/LossGold $1240.20-$12.30Silver$15.85-$0.24XAU81.11-0.60%HUI173.49-0.59%GDM615.97-0.77%JSE Gold1060.20+0.44USD94.99+0.42Euro116.22-0.57Yen90.27-0.10Oil$73.94-$0.2110-Year2.864%+0.009T-Bond144.75-0.25Dow24307.18+0.15%Nasdaq7567.69+0.76%S&P2726.71+0.31% The Metals: Gold fell throughout most of trade in New York and ended near its last-minute low of $1239.70 with a...Read More
President Trump will soon nominate his second Supreme Court justice. The first, Neil Gorsuch, has so perfectly replaced the late Antonin Scalia that it's safe to assume retiring justice Anthony Kennedy's successor will be in the same mold - which is to say formidable and unapologetically conservative. The result will be a solid conservative majority that's more definite and less flexible on the...Read More
By Clint SiegnerPresident Trump is winning on a number of fronts, and American conservatives are feeling better about their prospects than they have for a very long time.Trump supporters are cheering an imminent shift in the balance at the Supreme Court. The President is expected to nominate a justice who respects the constitution to replace the retiring Anthony Kennedy. This legacy promises to...Read More
By Ricky WenThe last week of June was quite weak as the stock market continued the downward momentum from the 3rd week by grinding down into the major weekly trending support zone around 2700-2720 on the Emini S&P 500 (ES) for the backtest. After Monday's steep sell-off, the rest of the week was mostly consolidation within Monday's range. The main takeaway from the week was that the market made...Read More
By Keith Weiner "On r?siste ? l'invasion des arm?es; on ne r?siste pas ? l'invasion des id?es."These are the actual words written by Victor Hugo in Histoire d'un Crime (History of a Crime). Translated literally, it means an invasion of armies can be resisted; an invasion of ideas cannot be resisted. However, there are many alternative translations that try to express the sentiment, if not the e...Read More
By Ronan Manlyhttps://www.bullionstar.com/With the first half of 2018 now drawn to a close, much of the financial medias' headlines and commentary relating to the gold market has been focusing on the fact that the US dollar gold price has moved lower year-to-date. Specifically, from a US dollar price of $1302.50 at close on 31 December 2017, the price of gold in US dollar terms has slipped by ap...Read More
By Justin SmythEver since breaking below the 30-week moving average in late 2016 gold and gold stocks have been in a sideways trading range unable to resume their uptrend. Gold and gold stocks have had three things working against them during this time frame: weak commodity markets, strong stock markets, and digesting gains from 2016.All three of those headwinds could be evaporating. We've...Read More
As the Reset Begins, Get Goldby James Rickards for Agora Financial's Gold SpeculatorThis may be the most important commentary I've ever written. Here's why.For years, financial analysts have discussed what's called the Global Monetary Reset, or GMR. Expectations of a GMR stem from the fact that monetary policies around the world are unstable and unsustainable.Aftermath: Seven Secrets of Wealth P...Read More
Turkish domestic scrap prices have remained largely stable over the past week, with demand for material being moderate, sources said on Monday July 2.Only one steel mill changed its buy price for auto bundle scrap over the past week, while the rest kept their prices unchanged.Long steel producer ID??, in the Izmir region, increased its buy price for auto bundle scrap by TRY10 per tonne to TRY1,520...Read More
A Grant's variety pack: Jim, Evan and Phil hold forth on an array of topical financial matters.1:36 North Korea, AT&T and the future5:10 A July 4 message from Thomas Jefferson6:08 Changes in China13:55 Corporate buybacks and corporate debt15:10 Crypto carnageJames "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the finan...Read More
CIS export billet prices continued to fall gradually at the beginning of this week with trading activity in the major outlets remaining sluggish over the weekend.Metal Bulletin's CIS billet export index was $516 per tonne fob Black Sea on Monday July 2, compared with $519 per tonne fob Black Sea on June 29.Offers of the material varied within the range of $515-520 per tonne fob Black Sea. But such...Read More
Traffic deaths in Nevada dropped more than 10 percent in the first year of legalized recreational marijuana, according to new dataContinue...Read More
Mining and metals investors started the third quarter the same way they ended the second, offloading the sector over fears of the impact of a global trade war.A trade tit-for-tat comes at a bad time just as China, responsible for half the world's industrial metal demand, enters a period of slower economic growth."Escalating global trade tensions bring a risk of demand destruction across commodity...Read More
"Capitol Police have issued an arrest warrant for a man who threatened to kill me and chop up my family with an axe...It's just horrendous that we have to deal with things like this."Continue...Read More
The price of platinum plunged more than 5% to touch $811.10 an ounce on New York futures markets on Monday, the lowest since July 2004.Platinum is also trading not far off a record discount to sister metal palladium which was pegged at $938 an ounce, and to gold which also continued to slide on Monday trading at a new low for this year of $1,241 an ounce.Platinum's prospects have clouded significa...Read More
I moved to Puerto Rico in mid-2016. Not for the tax advantages (at first), but to be closer to my vacation house on Culebra (a Puerto Rican Virgin Island) and to Continue...Read More
* Majority stake purchase seen valued at $3.5-$4.0 bln -minister* Govt drafting documentation on taxation, operational control* Deal might be completed in July - officialBy Cindy SilvianaJAKARTA, June 30 (Reuters) - Indonesia's state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government of...Read More