Physical iron ore prices continued to drop on Thursday March 8 with the April swaps contract hitting the $70-per-tonne-cfr-China mark amid a weakening Chinese steel market.Key driversChina's ferrous futures tanked across the board for a second day, with the benchmark contracts falling 2.9-3.8% from the settlement levels a day earlier. The iron ore contract had the worst performance, ending just ab...Read More
By Ronan Manly"Did you think that the high-powered world of the LBMA would operate in a fishbowl for all to see? We cannot take what is on the outside as evidence for what is on the inside."Thoughts of ANOTHER - October 1997LBMA Gold Price and LBMA Silver Price - Price Publication DelaysIn August 2014, the long-standing and tainted London Silver Fixing daily auction was replaced by a newly launc...Read More
- Sales in London property market at 'historic lows'- 65% fall in pre-tax profits in 2017 to ?6.5m reported by London estate agents Foxtons- Foxtons warns 2018 will 'remain challenging' for London property- Norway's sovereign wealth fund is backing London's property market- RICS: UK property stock hits record low as buyer demand falls- Own physical gold to hedge falls in physical propertyThe w...Read More
"Incoming information... confirms the strong and broad-based growth momentum in the euro area economy, which is projected to expand in the near-term at a somewhat faster pace than previously expected."Continue...Read More
(Kitco News)- U.S. jobless claims have increased more than expected Thursday, the week after claims fell to their lowest point in 49 years.The latest labor market data shows that weekly jobless claims increased by 21,000 claims to a seasonally adjusted 231,000 in the week to Saturday. Consensus expectations of economists, as compiled by various news organizations, called for initial claims to be a...Read More
Steel billet import prices and domestic rebar prices in Egypt increased in the week ended Thursday March 8, although demand was still only moderate.Metal Bulletin's weekly price assessment for Egyptian billet imports rose to $530-545 per tonne cfr on Thursday from $525-540 per tonne cfr previously.CIS-origin billet was on offer in Egypt...Read More
"So it begins." This is what King Theoden said right before the Battle of Helm's Deep in the Lord of the Rings. Fortunately, the army of Uruk-hai doesn't threaten the kingdom of men. But something else - also dreadful - endangers us. Trade wars. Are Trade Wars Good? President Trump shook the world last week, saying: "(...) trade wars are good, and easy to win." Wrong! Each economist will say t...Read More
The new bill requires a three-day waiting period for all firearm purchases, increases the minimum age for anyone buying a shotgun or rifle from 18 to 21. It also bans Continue...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Source: Jack Chan for Streetwise Reports 03/06/2018 Technical analyst Jack Chan charts recent movements in the gold and silver markets. -->Our proprietary cycle indicator is down.Gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.Gold sector is on a short-term sell signal. Short-term signals can...Read More
Turkish billet prices have continued to increase in line with rising imported scrap values, shortage of material and strong demand, sources said on Thursday March 8.Metal Bulletin's weekly price assessment for billet imports into Turkey on Thursday was $545-550 per tonne cfr, up from the $535-545 per tonne of last week.Suppliers in the CIS region have raised their offer prices to $550-560...Read More
"They had to do it because they are scared they'll find themselves on the end of an anti-trust collusion lawsuit."Continue...Read More
For at least another hundred years we must pretend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still.John Maynard KeynesDespite the heavy beating Bitcoin has taken, the sentiment has not turned bearish, and Bitcoin experts are still enthusiastically issuing wild targets...Read More
FRANKFURT (Reuters) - Unilateral decisions on trade policy are dangerous and disputes should be settled using international bodies, European Central Bank President Mario Draghi said on Thursday, in the wake of U.S. plans to impose tariffs on imports of steel and aluminum.“We are convinced that disputes should be discussed and resolved in a multilateral framework, that unilateral decisions ar...Read More
The mad rally in crypto markets has spurred another huge hype train-Initial Coin Offerings,Continue...Read More
China's domestic rebar prices tumbled further on Thursday March 8 amid weak demand. Domestic Eastern China (Shanghai): 3,830-3,900 yuan ($606-617) per tonne, down 80-90 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, down 40-50 yuan per tonneDemand from the construction sector has shown very little recovery since the country's Chinese New Year break, and remained weak in recent...Read More
FRANKFURT (Reuters) - The European Central Bank dropped a long-standing pledge on Thursday to increase its bond buying if needed, taking another small step in weaning the euro zone economy off protracted stimulus.Keeping its broader policy unchanged, the ECB said it could still extend its 2.55 trillion euro ($3.16 trillion) bond purchase scheme beyond September if needed. But it omitted a referenc...Read More
Stainless cold-rolled coil prices in East Asia widened over the past week with offers from China and Taiwan going in opposite directions, while those for stainless hot-rolled sheet narrowed on thin trading.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed CRC was $2,235-2,350 per tonne cif East Asian ports for the week ended Wednesday March 7, widening from $2,250-2,330...Read More
- Sales in London property market at 'historic lows'- 65% fall in pre-tax profits in 2017 to ?6.5m reported by London estate agents Foxtons- Foxtons warns 2018 will 'remain challenging' for London property- Norway's sovereign wealth fund is backing London's property market- RICS: UK property stock hits record low as buyer demand falls- Own physical gold to hedge falls in physical propertyThe w...Read More
(Reuters) - The S&P 500 was roughly flat on Thursday and oscillated between positive and negative territory as investors were nervous of making bets ahead of an announcement from President Donald Trump on metal tariffs after a volatile week marked by worries about a potential trade war.Trump is expected to formalize 25 percent import duties on steel and a 10 percent tariff on aluminum at 3:30...Read More