Dear Friend of GATA and Gold:Keith Weiner of Monetary Metals, whose recent commentary, "Super-Duper-Irrational Exuberance" was disputed by your secretary/treasurer yesterday --http://www.gata.org/node/18102-- today responds to the criticism but answers nothing about it.In his "Open Letter to GATA," posted at GoldSeek here --http://news.goldseek.com/GoldSeek/1521038153.php-- Weiner continues to i...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have gone unchanged over the past week due to a limited market, sources told Metal Bulletin on Wednesday March 14.Buyers have been in "wait-and-see" mode until the price trend becomes clear."The mills are sold out and buyers have enough material," an Italian trader said. "Because the third-quarter-production prices for hot-rolled coil [HRC]...Read More
Breakthrough Sound Money Bill Becomes Law Today with Wide SupportCheyenne, Wyoming (March 14, 2018) - Sound money activists rejoiced as the Wyoming Legal Tender Act became law today. The bill restores constitutional, sound money in Wyoming.Backed by the Sound Money Defense League, Campaign for Liberty, Money Metals Exchange, and in-state grassroots activists, HB 103 removes all forms of state ta...Read More
HOUSTON/SEOUL (Reuters) - U.S. energy pipeline developers say they intend to pursue exemptions to the Trump Administration’s proposed steel tariffs, as concerns grow for those companies and from key exporters to the United States like South Korea.“We have a number of pipeline projects that would be impacted significantly by this cost increase,” said Adam Bedard, chief executive o...Read More
Earlier this week the Chilean press learned about an application for a mining concession presented before Quilpu?(C)'s First Municipal Court by Augusto Pinochet Hiriart, the son of former dictator Augusto Pinochet.According to local media, back in February, Pinochet requested a "license to exploit a copper, gold, silver and other minerals" in an area near the city of Quilpu?(C), which is located i...Read More
Dear GATA and Mr. Chris Powell:I am writing this in response to your article "Monetary Metals' Weiner refuses to see anything wrong in the gold market".There is a certain irony for me to read that I refuse to see. I have spent eight years studying the mechanics of the market, building a model, developing software to run the model through several generations, and licensing nearly three terabytes...Read More
Prices trend in the market for hot-rolled coil (HRC) in the EU remain positive despite weak market activity and stable prices, sources told Metal Bulletin this week.Despite the limited trading activity, prices are not expected to go down, according to market sources.European mills have already almost sold out their second-quarter production material, but have not announced new prices yet. The new...Read More
Where is the gold bull market that we predicted would begin about now? Here is our broad-based overview. The financial markets continue to expect an aggressive Fed going forward with four-even five-rate hikes this year and a continuing shrinkage of its balance sheet (Quantitative Tightening). Given this, gold has held up pretty well, essentially range trading, but the gold stocks have suffered bec...Read More
WASHINGTON (Reuters) - President Donald Trump is ready to sign legislation intended to curb school violence that was inspired by last month’s mass shooting at a Florida high school, and which the House of Representatives is poised to pass later on Wednesday.In a statement released on Wednesday the White House said the legislation would help protect children and reiterated its support for arm...Read More
This article was originally written for Miles Franklin by Gary Christenson. Link is here.Serious problems affect Americans. Problems first, solutions at the end! We did what to ourselves? Our representatives, senators, and Presidents, supposedly acting on our behalf, voted for and created what history has shown are huge monetary and fiscal mistakes.Some will disagree, but consider this partial...Read More
Canada's First Cobalt Corp. (TSX-V:FCC) (ASX:FCC) is strengthening its position in the cobalt market by acquiring explorer US Cobalt and so create a pure-play North American-focused miner of the metal, a key component in computer chips, mobile phones and lithium-ion batteries that power electric vehicles (EVs).The blended company will have projects in Ontario and Idaho which, once in operations, c...Read More
Italian steel re-rollers have been trying to achieve price increases for heavy plate products following the recent rise in slab costs, sources told Metal Bulletin on Wednesday March 14.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?580-590 ($717-729) per tonne ex-works on Wednesday, unchanged over the week.The lower end of the assessm...Read More
More than two weeks ago, we described thevery specific and very important pattern in the gold market, one of short- andmedium-term importance. We wrote that the triangle apex pattern based on the intradayhighs, pointed to a major reversal in the first half of March. The first halfof March ends this week, so the key question is if the pattern was invalidatedor are we about to see a major reversal i...Read More
CloseGain/LossGold $1325.20-$0.60Silver$16.55-$0.02XAU79.79+0.11%HUI174.19-0.04%GDM607.88+0.17%JSE Gold1077.28-12.85USD89.74UNCHEuro123.67-0.23Yen94.14+0.26Oil$60.96+$0.2510-Year2.817%-0.030T-Bond145.875+0.71875Dow24758.12-1.00%Nasdaq7496.81-0.19%S&P2749.48-0.57% The Metals: Gold gained $4.30 to $1330.10 in Asia before it fell back to $1321.60 in midmorning New York trade...Read More
MILAN (Reuters) - The leader of Italy's anti-establishment 5-Star Movement said on Wednesday he had no intention of plunging the country into chaos, promising a responsible economic policy if his party formed the next government.Five-Star emerged as Italy's biggest party from a national election on March 4, behind a center-right coalition, but neither group got enough seats to form a working major...Read More
More than two weeks ago, we described the very specific and very important pattern in the gold market, one of short- and medium-term importance. We wrote that the triangle apex pattern based on the intraday highs, pointed to a major reversal in the first half of March. The first half of March ends this week, so the key question is if the pattern was invalidated or are we about to see a major rev...Read More
- Gold Cup at Cheltenham - 'The Olympics' of the European horse racing calendar - Gold Cup trophy contains 10 troy ounces of gold - worth ?9,000- ?620 million bets on horses, 230,000 pints of Guinness will be drunk, 9.2 tonnes of potato eaten - Since the 5th century BC, gold has been the ultimate prize to award champions and gold has been constantly and universally awarded as top prize...Read More
CANONSBURG, Pa. (Reuters) - The Democrat candidate claimed a congressional election in a Republican heartland in Pennsylvania, as a vote seen as a referendum on Donald Trump’s performance as president remained officially too close to call early on Wednesday.In an ominous sign for Republicans eight months before national midterm elections, official results with all ballots from voting booths...Read More
Technical analyst Jack Chan charts energy and finds that a tradable bottom is in place. $OSX is on a major sell signal.Our proprietary cycle indicator turns up this week.New buy signalNew buy signal New buy signalNew buy signalSummaryEnergy sector is on a major sell signal. The cycle is now up, suggesting a tradable bottom is in place. We have taken some trading positions with a multi-week outlook...Read More