The Fed kept the interest rates unchanged in December. The statement was rather hawkish, while the dot-plot rather dovish. What does such a mix imply for the yellow metal? Fed Keeps Interest Rates UnchangedYesterday, the FOMC published the monetary policy statement from its latest meeting that took place on December 10-11th. In line with expectations, the U.S. central bank left the federal funds r...Read More
AVGO posted earnings and revenue that exceeded analysts' estimatesBroadcom Inc (NASDAQ:AVGO) is falling from yesterday's record peak of $330.16, despite posting a fourth-quarter earnings beat of $5.39 per share. The semiconductor concern also lifted its revenue forecast above expectations, but Wall Street remains grim toward the equity, as growth in the semiconductor industry continues to slow. At...Read More
November retail sales came in below its estimatesFresh off reports of a "phase one" trade deal being drawn up, Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are confidently higher today. But while Bloomberg reported that the U.S. and China agreed to a limited deal that would scrap additional U.S. tariffs set to go into effect this Sunday, Dec. 15,...Read More
Verylittle happened in the precious metals market both yesterday and in today’spre-market trading – at least so far. We will take this opportunity to discusssomething that we haven’t done in a while – silverstocks.To be clear, we’re not going to discuss the silver mining stock selection, asthat’s something our proprietaryalgorithms do on a daily basis. And yes,...Read More
Turkey is calling for a level playing field when it comes to trading with the European Union and the United States, Turkish steelmakers said during a panel discussion at Fastmarkets' Middle East Iron and Steel conference in Dubai.Speaking on Tuesday December 10 in a panel discussion about the protectionism Turkish steel faces in its major steel export markets, panelists said they were on...Read More
Major Chinese steelmakers' daily crude steel output dropped in late November, according to data released by the China Iron & Steel Association (Cisa) on Tuesday December 10.Daily crude steel output November 21-30:...Read More
China's finished steel exports decreased on a year-on-year basis in November, according preliminary Chinese customs data released on Sunday December 8.November exports: 4.56 million tonnes...Read More
- Dave KranzlerI originally shared this analysis with my Mining Stock Journal subscribers in the October 17th issue. I sent it to Peter Spina at Goldseek.com because I saw the idea from one of his tweets a few weeks earlier. It's rare when the market mis-prices a larger cap producing mining company, thereby allowing aggressive investors an opportunity to buy into a high quality operati...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 329,16958,249101,409203,374505,657633,952665,315 Change from Prior Reporting Period -17,3562,4297,518-546-21,050-10,384-11,103 Traders 19458745550273163 Small Speculators LongShortOpen Interest 56,05124,688690,003 -62990-11,013 non reportable positionsCha...Read More
The gold miners' stocks have largely been consolidating high following last summer's powerful upleg. That resilience has left sentiment relatively bullish, with traders mostly expecting this sector to soon start surging again. But the jury is still out on whether gold stocks will be lucky enough to evade a bigger correction. Major downside risks still abound, primarily in gold which domi...Read More
Japan is the canary in the bankers' coal mineBy: Darryl Robert Schoon"Japanification" describes a severe and prolonged deflationary state in which demand drops, prices and wages fall, and economic activity remains moribund for decades. Japan has been trapped in a deflationary state since the collapse of the Nikkei stock market bubble in 1990.Seventeen years after the collapse of the Nikkei, in T...Read More
By: Ira EpsteinGold was thrown back by the end of the day, higher lows and higher highs:Read More
There can be some calendar year end profit taking in gold by medium term investors and hedge funds IF and WHEN the details of US-China signed trade deal are known. I am not writing off gold and silver at the moment. I will prefer to read the full details of the trade deal and then take a call on short term investment decision in gold and silver. However I will prefer selected Indian stocks over...Read More
Aluminium foundry alloy premiums continued to falter, with the US premium hitting a record low, due to bearish macroeconomics and weak fundamentals.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot/T-bar premium, dlvd dup over P1020A Midwest US at 7-10 cents per lb on Friday December 13, down from 8-11 cents per lb in the previous monthly assessment.The previous all-time low was 8-10...Read More
Global ferrous scrap prices continued on an upward trend in the week ended Friday December 13 due to supply shortages and stable demand from end users.Turkish steelmakers book 10 cargoes Sentiment in US bullish Large bid-offer gap in Vietnam Taiwan continues to accept price increases Thin demand in India due to cheaper domestic scrap TurkeyTurkish steel mills booked a total of 10 cargoes this...Read More
Cobalt buyers returned to the market this week but prices fell further towards $15 per lb while sellers sought to offload stock ahead of the end of the year. Spot trade has been thin for the past few weeks so sellers offered aggressively, accepted cheaper bids and found competition for larger-tonnage business in their attempts to lock in sales before the start of 2020. The price of cobalt, standar...Read More
The domestic price of hot-rolled coil in Northern Europe was unchanged on Friday December 13 although mills continue to insist on further price increases, market sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe was calculated at ?,?432.08 ($481.10) per tonne on Friday, unchanged from Thursday.The assessment is based on "workable" prices hea...Read More
Christopher Lewis7 hours ago (Dec 13, 2019 5:23 PM GMT)Gold markets rallied a bit during the trading session on Friday, reaching towards the 50 day EMA. The 50 day EMA of course is a major trend defining indicator. At this point, we are trying to break above there, reaching towards the downtrend line which is the top of the down trending channel. At this point, the market looks very likely to have...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More