In interviews, whenever I try to make the case that US policies are leading to the kinds of currency disruptions common in developing countries, I say something like, "For a glimpse of America's future, take a look at Argentina, where they're eating cats and dogs because of hyperinflation ... wait, no, I meant Venezuela." Mixing up countries kind of dilutes the power of the statement, but for so...Read More
Prices for imports of cold-rolled coil (CRC) into South America dropped in the first few days of trading in May, due to low-priced offers from China, while the prices for hot-rolled coil (HRC) and hot-dipped galvanized coil (HDG) were stable, Metal Bulletin has heard.Offers were placed by Chinese mills in the export market, after the Labor Day holidays on Monday April 30 and Tuesday May 1 in the A...Read More
By Rory HallAnother month passes and another hundred thousand ounces (3.11 tons) of physical gold get added to the Kazakhstan gold reserve vault. Each month this nation makes another deposit of physical gold and each month the vast majority of media completely ignores it. Not only has she been adding physical gold to her gold reserves for the past 66 straight months the last two years have seen...Read More
(Kitco News) - Gold prices areslightly up in early U.S. trading Friday, getting a modest boost from a U.S.employment report non-farm jobs number that was weaker than marketexpectations. However, a firmer U.S. dollar index is limiting the upside ingold and silver. June Comex gold futures were last up $2.50 an ounce at $1,315.00.July Comex silver was last up $0.038 at $16.485 an ounce. Thejust-relea...Read More
AAPL is eyeing its best week since 2011TheDow Jones Industrial Average (DJI) is up triple digits at midday, shaking off early losses stemming from the nonfarm payrolls report for April, which indicated the unemployment rate fell to 3.9% last month. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also higher, as Apple (AAPL) stock explores record highs following news that Warren Buffett...Read More
Former Microsoft CEO, and Founder of the nonprofit USAFacts (www.usafacts.org), Steve Ballmer, was on CNBC early in April arguing that the best he could see for real GDP growth was 1.5%!Continue...Read More
By John MauldinTrade TalksTax TroubleBorder ChecksChicago, Orange County, Raleigh, and LemonadeSince last week's letter, I have flown enough to send me over 100,000 miles on American Airlines this year and make Executive Platinum. That is not necessarily a good thing. But wow, I learned a lot between all those flights.Today's letter will be a little different. First, I want to relate some of the...Read More
Domestic prices for steel products in Argentina are unchanged this month, but some market participants have reported fears of future changes because of the country's currency instability.Metal Bulletin's monthly assessment of Argentina's domestic price for hot-rolled coil (HRC) remained unchanged at $750-755 per tonne ex-works on Friday May 4, with the price of cold-rolled coil (CRC) stable at $86...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump has not asked the Pentagon for options to reduce U.S. forces based in South Korea, U.S. National Security Adviser John Bolton said in a statement on Friday.His comment comes after the New York Times, citing several people briefed on the deliberations, reported on Thursday that the president was seeking options to curb the number of American troops...Read More
A pullback to this trendline has resulted in outsized one-month gainsSquare Inc (NYSE:SQ) pulled back earlier this week on a negative earnings reaction. Analysts weren't concerned, though, with Stifel upgrading the security to "buy" from "hold," and Jefferies saying it "would buy the dip." What's more, the retreat brought SQ stock back to a trendline with historically bullish implications -- sugge...Read More
We could be heading for a golden age - or a return to the 1970sBy John Stepek of Money WeekThe cost to the US government of borrowing money for a decade came within sniffing distance of 3% yesterday.The US ten-year Treasury yield is sitting at 2.96% as I write this morning, having got to 2.99% yesterday.Does this really matter? After all, 3% is just another number.On the one hand, you'd be righ...Read More
Following the Panic of 1907, John Pierpont Morgan was called to testify before Congress in 1912 on the subject of Wall Street manipulations and what.Continue...Read More
Gold was enjoying a solid spring rally until a couple weeks ago, nearing major upside breakouts. But its nice advance has crumbled since, really weighing on sentiment. Gold fell victim to a rare major short squeeze in US Dollar Index futures. The surging USDX motivated gold-futures speculators to flee rather aggressively. But this will likely prove a short-lived anomaly, after which gold...Read More
Bill says that after so much manipulation and price suppression, the days of normal bull market moves are done. Here's what is coming, however...Bill Murphy and Keith Neumeyer interviewed on Crush The StreetKeith Neumeyer and Bill Murphy join us in this special three-way interview as we discuss the Gold and Silver markets and gain expert insights.As China and Russia continue to purchase more Gold...Read More
Local prices for rebar in Brazil have increased early in May, which reflects efforts by several producers to put upward pressure on the market throughout the year to date.Rebar prices rose by around 8% last month, according to domestic sources.This lifted Metal Bulletin's monthly price assessment for Brazilian rebar to 2,380-2,580 Reais ($671-728) per tonne delivered on Friday May 4 from 2,200-2,4...Read More
Treasury Secretary Steven Mnuchin and other top U.S. trade officials concluded the first official round of trade talks in China FridayContinue...Read More
By Gary TanashianSince early 2016 we have been carrying forward a theme illustrating that until the macro trends in place since 2011 change, the situation would be as is, stocks trending up and the precious metals in consolidation/correction. The current trends were kicked off symbolically, and functionally to a degree, by the Fed's concoction of Operation Twist, a plan with the expressed goal o...Read More
The company urged 330 million users to change their passwords as a precautionSocial media name Twitter Inc (NYSE:TWTR) is trading lower this morning, after the company urged all 330 million users to change their passwords after a system glitch. Twitter stock was last seen down 1.9% at $30.09. However, TWTR's pullback to a key trendline could present a buying opportunity for bulls, if recent histo...Read More
MUMBAI/BENGALURU (Reuters) - Demand for physical gold barely changed in major Asian hubs this week even as global prices weakened, while a correction in local rates in India prompted retail consumers and jewellers to start purchases.In India, gold futures were trading at around 31,011 rupees per 10 grams, after rising to their highest since August 2016 at 31,620 rupees last month.“Demand has...Read More