* Bond yields edge up* Mario Draghi speaks to European parliament later in day* Hefty week for euro debt supply* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates prices, adds fresh quote)LONDON, July 9 (Reuters) - Government bond yields in the euro area crept up on Monday, giving up declines seen after Friday's U.S. non-farm payrolls data, as a stronger tone in world equity markets...Read More

The latest metal markets news and price moves to start the North American day on Monday July 9. Base metals on the London Metal Exchange were mostly higher during morning trading on Monday July 9, rebounding against positive US data last week and a broad recovery in global equity markets.Climbing 1.6%, copper's three-month price made the largest recovery after closing at its lowest point...Read More

BERLIN (Reuters) - Investor morale in the euro zone rose in July to end a five-month run of declines, a survey showed on Monday, but research group Sentix said the specter of escalating trade tensions with the United States risked depressing sentiment again.Sentix's index for the euro zone rose to 12.1 from 9.3 in June. The Reuters consensus forecast was for a fall to 8.2."This development is...Read More

Singapore rebar import prices dropped over the past week on weaker demand from end users.Buyers were staying on the sidelines, with many citing falling domestic and export prices as the key reasons for holding back."Given the falling prices in China, it would not be an ideal time for a buyer to secure any cargoes now," a major fabricator in Singapore said.Negotiation levels have dipped, with buyer...Read More

Technical Divergence Successfully MaintainedIn an update on gold and gold stocks in mid June, we pointed out that a number of interesting divergences had emerged which traditionally represent a heads-up indicating a trend change is close (see: Divergences Emerge for the details). We did so after a big down day in the gold price, which actually helped set up the bullish divergence; this may have fe...Read More

Turkish deep-sea scrap import prices went down slightly on Monday July 9 with the news of a Baltic Sea cargo being sold last week.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising 12,000 tonnes of HMS 1&2 (95:5) at $360 per tonne cfr on Wednesday July 4.After the news of this deal was heard, the daily scrap indices slipped on...Read More

 CloseGain/LossGold $1258.20+$3.10Silver$16.11+$0.08XAU83.28-0.56%HUI178.82-0.22%GDM629.59-0.50%JSE Gold1076.07-6.63USD94.10+0.09Euro117.47-0.03Yen90.26-0.29Oil$73.85+$0.0510-Year2.861%+0.037T-Bond145.15625-0.50Dow24776.59+1.31%Nasdaq7756.20+0.88%S&P2784.17+0.88% The Metals: Gold gained $10.80 to $1265.90 in London before it drifted back lower in New York, but it still ended wit...Read More

Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort210,483132,15659,665172,917266,067443,065457,888Change from Prior Reporting Period 15,36513,7108,2311,316-49724,91221,444Traders18195964952273206 Small Speculators (C) GoldSeek.com LongShortOpen Interest 51,09936,276494,164 6794,14725,591 non reportable positionsChange from th...Read More

The 2018 Sound Money Index is the first index of its kind, ranking all 50 states using 9 indicators to determine which states offer the most pro-sound money environment in the countryCharlotte, NC (July 9th, 2018) -Utah, Texas, and Wyoming round out the top three most sound money-friendly states in the United States, according to the 2018 Sound Money Index, released today by the Sound Money Defe...Read More

By Daniel R. Amerman, CFAWould you have appreciated a single number that could have given you a clear and unmistakable warning before the tech stock bubble collapsed? How about an unequivocal mathematical warning in 2006 that major financial trouble was on the way, well before the problems of 2007 and 2008?These warnings did exist and they can be seen in the gold areas of the graph above. They a...Read More

By Avi GilburtIf you read most of the analysis being published over the last two days, you would almost assume that the S&P500 should be crashing or be in a bear market. Yet, we are only 4% off the all-time highs struck early this year in the S&P, whereas the Nasdaq and Russell have made new higher highs this summer.In fact, if you had read the analysis put out over the last two days when furthe...Read More

TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12July 9, 2018"There is a crack, a crack in everythingThat's how the light gets in." Leonard Cohen, Anthem, 1992, from the album The Future "Those who have knowledge, don't predict. Those who predict, don't have knowledge. " Lao Tzu, 6th century BC Chinese poet"Prediction is ver...Read More

Okay, one more look at wage inflation, followed by a short diatribe on the unfairness of life. As the labor markets get tighter, power is finally shifting from companies to workers. For some reason Iowa is leading the way (the promised two sentences are in bold): Say Hello to Full Employment Want to know where the economy is headed? Look at Des Moines(Atlantic) - This morning, the Labor Depart...Read More

Source: Michael Ballanger for Streetwise Reports 07/07/2018 Sector expert Michael Ballanger discusses breakdowns in base metals markets and his current views on the status of cryptocurrencies. -->Since I covered gold and silver on Wednesday, I am switching to the base metals because they represent a dollar flow infinitely larger than the precious metals, and are therefore far more difficult...Read More

Turkish domestic auto bundle (DKP grade) scrap prices have strengthened with improving demand over the past week, while ship scrap prices have only shifted sideways, sources said on Monday July 9.Alloy long steel producer Asil ??elik raised its buy price by TRY50 ($11) per tonne to TRY1,680 ($367) per tonne delivered, while long and flat steel producer ??olakoglu increased its buy price for auto b...Read More

By Ricky WenThe first week of July was really about the upside following through based on the overall rounding bottoming pattern and temporary low setup at the 2693.25 low from the last week of June. The market was able to cement the status of temporary low from June, and had a decent "stick save" on Monday July 2 at the 2698.5 lows before closing at the high of the day around 2726 to cement ano...Read More

By Keith WeinerBefore it collapsed, the city of Rome had a population greater than 1,000,000 people. That was an extraordinary accomplishment in the ancient world, made possible by many innovative technologies and the organization of the greatest civilization that the world had ever seen. Such an incredible urban population depended on capital accumulated over centuries. But the Roman Empire squ...Read More

- Italy is EU's ticking timebomb as debt nears EUR2.4 trillion- Italy's GDP is just EUR1.85 trillion; National debt is 132% of economy- Italy is politically dysfunctional at best of times; Now has populist left / right wing government- National debt owed to other EU nations alone is 25% of its GDP- Italy's debt threatens global GDP; May wipe 0.4% off global GDP- Default to create contagion in...Read More

Physical iron ore prices for mainstream 62% Fe Australian fines saw modest gains on Monday July 9 following paper market increases.Metal Bulletin 62% Fe Iron Ore Index: $63.92 per tonne cfr Qingdao, up $0.08 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.61 per tonne cfr Qingdao, up $0.39 per tonneMetal Bulletin 58% Fe Premium Index: $51.43 per tonne cfr Qingdao, down $0.09 per tonn...Read More

Copper crashed to below $3 per pound. Is it manipulation or a sign that China and the global economy are at risk? Too early to tell, but interest rates are clearly rising and the could mean trouble ahead. Debt continues to pile up at record rates both here and abroad and no one seems concerned, until one day everyone will be. That's the tipping point. And it's certainly coming. John Rubino is the...Read More