Bob Moriarty of 321 Gold, in a wide-ranging conversation with Maurice Jackson of Proven and Probable, discusses issues from North Korea to Bitcoin. Maurice Jackson: Joining us for a conversation is Bob Moriarty, the founder of 321gold, and 321energy.com, and the author of two of my personal favorite books, "The Art of Peace," and "Nobody Knows Anything." Welcome to the show. I recall when Presiden...Read More
Harvey says there is a scramble to get silver from the U.S. as supply dwindles around the rest of the world. Here's the details...by Harvey Organ of Harvey Organ BlogJULY 2/ANOTHER RAID WITH GOLD DOWN $12.15 TO $1240.90 AND SILVER DOWN 31 CENTS TO $15.83/THREE HUGE COMMENTARIES THAT YOU MUST READ TONIGHT: 1. NICHOLAS BIEZENEK ON EFP'S/ 2. ROB KIRBY ON DEUTSCHE BANK'S PROBLEM AND HOW THEY ARE BEING...Read More
Gold weathered theFederal Reserve’s 7th rate hike of this cycle this week. Gold-futures speculators and to a lesserextent gold investors have long feared Fed rate hikes, selling ahead of them. Higher rates are viewed as the nemesis ofzero-yielding gold. But contrary to thispopular belief, past Fed rate hikes have proven very bullish for gold. This latest hike once aga...Read More
I am sure you remember the lead up to Q1 2016. The US economy and stock market were transitioning from a Goldilocks environment and narrowly avoiding a bear market while the rest of the world was still battling deflation. Precious metals and commodities were in the dumper and try though US and global central banks might, they seemed to fail to woo the inflation genie out of its bottle at every tur...Read More
Zinc prices on the London Metal Exchange struggled at the close of trading on Tuesday July 3, falling 1.1% over the afternoon and dipping below $2,800 per tonne for the first time since August 2017 amid broadly bearish trading conditions. "The base metals complex this morning remains uninspiring, with most metal prices struggling to attract dip-buying interest. The LME zinc price is still trading...Read More
Peter KrauthThe price of silver has been punished since the last Fed rate hike, but are we close to a bottom?Thanks to a strong rally in the U.S. Dollar Index (DXY), where it climbed 180 basis points in just two weeks, silver prices have been stuck in the doghouse.Silver followed gold lower, succumbing to historic selling pressure. That's caused already negative sentiment to get even worse.However...Read More
The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided. The main point of discussion up until now has been the fact that, due to international pressure (such as Trump’s Twitter diplomacy, perceived Russian willingness to open up the taps and pressure from Asian consumers) Saudi Arabia will be willing to revoke its current product...Read More
Comex copper prices were slightly lower on Tuesday July 3 morning in the US, with trade shallow ahead of the Fourth of July holliday.Copper for September settlement on the Comex division of the New York Mercantile Exchange inched down 0.10 cents or 0.1% to $2.9430 per lb. The contract now sits at its lowest point since August 2017.Base metals have...Read More
Why a seemingly run-of-the-mill announcement yesterday by Fed chairman Powell might signal a major turning point for the gold market. . . and perhaps ALL markets.At the end of Fed chairman Jerome Powell’s opening statement for his press conference yesterday he dropped a major surprise on the markets that immediately sent the dollar and stocks tumbling and gold, silver and bonds vaulting high...Read More
Australian iron ore lump prices continued to rise on Tuesday July 3, while fines prices stayed rangebound.Metal Bulletin 62% Fe Iron Ore Index: $64.55 per tonne cfr Qingdao, up $0.01 per tonne Metal Bulletin 58% Fe Premium Index: $51.95 per tonne cfr Qingdao, up $0.03 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.50 per tonne cfr Qingdao, down $0.10 per tonne Metal Bulletin 62% Fe China Port...Read More
The recent growthacceleration in the EU could distract attention from problems of the commonbloc. Fortunately, you can always count on Italy. Whenever you start thinkingthat only bright future is ahead of the union, the descendants of the proudRomans remind about themselves. Indeed, Italy focuses three major EU’s problemslike in a lens. What are they and how could they affect the gold market...Read More
With the G7 meeting concluding and the world about to start reacting to what was said and what was heard, it is time to take a look at the Crude charts with our Advanced Fibonacci price modeling system.Our research team, at www.TheTechnicalTraders.com, believes Crude will continue to drift lower over the next few weeks testing the $60 ppb level before breaching this support level and ultimately ta...Read More
Glencore suspended royalty payments to Mr. Gertler following Treausry Department sanctions in December. "Glencore Shares Tumble After U.S. Subpoena -- 2nd Update" at 8:27 a.m incorrectly said in the 15th paragraph that the payments were related to stake sales. Read More
By Scott Patterson LONDON -- Glencore PLC said it received a subpoena from U.S. authorities related to compliance with American corruption and money-laundering laws at its operations in Congo, Nigeria and Venezuela -- a move that significantly ratchets up government scrutiny of the mining and trading giant. The Tuesday disclosure rattled investors. Glencore shares fell more than 12% in early Lon...Read More
By Scott Patterson LONDON-- Glencore PLC said it received a subpoena from U.S. authorities related to compliance with American corruption and money-laundering laws at its operations in Congo, Nigeria and Venezuela--a move that significantly ratchets up government scrutiny of the mining and trading giant. The early Tuesday disclosure rattled investors. Glencore shares fell more than 12% in early...Read More
By Scott Patterson The U.S. Justice Department has demanded that Glencore PLC hand over records related to the Anglo-Swiss mining giant's compliance with laws against foreign-corrupt practices and money laundering concerning its business in the Democratic Republic of Congo, Nigeria and Venezuela. Glencore, which disclosed it had received a subpoena in a statement Tuesday, said it is reviewing th...Read More
By Oliver Griffin Glencore PLC (GLEN.LN) said Tuesday that its subsidiary, Glencore Ltd., has been subpoenaed by the U.S. Department of Justice to produce documents and other records regarding anticorruption and money-laundering laws. The Anglo-Swiss commodities trader said the subpoena relates to its compliance of the U.S. Foreign Corrupt Practices Act and money-laundering statutes. The requeste...Read More
LONDON, July 3 (Reuters) - Billionaire Anil Agarwal faces investor resistance to his $1 billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private.Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were prepared to back an 825 pence-a-share bid from Agarwal's family trust, Volcan, to a...Read More
The London Metal Exchange (LME), the world's biggest market for industrial metals, is stepping up efforts to make sure cobalt traded on the exchange is not mined using child labour, particularly in the Democratic Republic of Congo.Starting next year, the LME will demand all companies that get at least 25% of their metal from small-scale mines in the DRC to be subject of a professional audit, Finan...Read More
Shares in miner and commodities trader Glencore (LON:GLEN) fell the most in two years after it revealed that US authorities had ordered it to hand documents and other records relating to possible corruption and money laundering.The stock fell as much as 13%, wiping more than 5.5 billion pounds ($7.3 billion) off Glencore's market value.The Swiss firm said Tuesday it had received a subpoena from by...Read More