By: Avi Gilburt Originally published on Sat Dec 21 for members of ElliottWaveTrader.net: When the metals are in a bear market, metals enthusiasts are frustrated. And, even when the metals are in a bull market, metals enthusiast become frustrated. This is what I have been seeing of late, as the metals are consolidating for their next bullish run.But, if you trade metals, you know that t...Read More

Gary TanashianThey say that Festivus is the "anti-Christmas", but in this case we are going to call it the anti-Christmas Eve as the markets close out 2018's Christmas Eve massacre."Many Christmases ago I went to buy a doll for my son. I reached for the last one they had, but so did another man. As I rained blows upon him I realized there had to be another way!"This year markets are going anot...Read More

- Bob MoriartyMy Best Year-End Tax-Loss Harvesting AdviceWith only a few trading days remaining in 2019, a clear winner has emerged in the contest of gold mining ETFs. The U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) was up 39.5 percent year-to-date as of November 30, beating five of its peers, including those that focus on explorers and junior miners, or that are backed by physi...Read More

Traders will start taking positions for January. January will be the real test for gold and silver bulls. Signing of trade deal, Brexit, various US jobs numbers and Chinese demand and Chinese economic growth around the Chinese New Year. Bonds can also be a surprise winner if gold and silver sell off in January. I am bullish on global stock markets if the trade deal is signed in January. Trade de...Read More

The uptrend in the Commonwealth of Independent States' export pig iron market continued during the last full week of 2019 on sales to key outlets at higher prices and expectations for further growth in early 2020, sources told Fastmarkets.Fastmarkets' weekly price assessment for high-manganese pig iron export, fob main port Black Sea, CIS was $315-322 per tonne on Friday December 27, up...Read More

Brexit has become very likely due to result of the UK vote. But so what (gold- and currency-wise)? The uncertainty dropped significantly, and markets were able to sign a breath of relief (bearish for gold), but on the other hand Brexit itself increases the geopolitical turmoil (bullish for gold). Gold didn’t react decisively in the short run overall, but the European currencies: the euro, an...Read More

In recent weeks we’ve noted the positive developments in the gold stocks despite the sector being in a period of correction.  Last week we shared the idea that the next impulsive move in gold stocks might begin when the correction in the metals ends.  In this article, I’m going to share the one chart which I think will help us time that next move higher.  In recent years...Read More

Domestic steel billet prices in India increased by 1,600 rupees ($23) per tonne in the week ended Friday December 27 due to a sharp rise in finished steel product prices and increased buying of semi-finished goods by rolling mills.Fastmarkets assessed the price of steel billet domestic, exw India at 29,000-29,200 rupees per tonne on December 27 compared with 27,400-27,600 rupees per tonne a week e...Read More

Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday December 27.China Seaborne prices of both grades of manganese ore in China continued higher after deals for February delivery of material were concluded at higher levels.Chinese domestic portside manganese ore prices of both grades rose further due to...Read More

China and the U.S. have reached a preliminaryagreement, which softens their trade war, while the landslide victory ofConservative Party in the UK parliamentary elections clears the path to Brexit.Given that downside risks for the global economy are now significantly lower,how much do investors still need gold? UKParliamentary Elections and GoldOn Thursday, the British people voted in another snapp...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday December 27. ChinaSpot Chinese ferro-chrome prices fell in an oversupplied market, with falling January tender prices from major Chinese stainless steel mills weighing further on the spot market.Taiyuan Iron & Steel (Tisco) slashed its...Read More

Federal Reserve ChairmanJerome Powell’s comments on inflation last Wednesday added fuel to the contra-dollartrade.During a press conferencefollowing the Fed’s decision to leave interest rates unchanged, Powell said,“In order to move rates up, I would want to see inflation that's persistent andthat's significant. A significant move up in inflation that's alsopersistent..."To...Read More

Tonight I would like to update some commodities charts we haven’t looked at in a while. There have been some subtle changes taking place that need to be addressed. Just like the PM complex that topped out in 2011 many commodities also topped out that same year and have been correcting ever since. With the US dollar at an important inflection point it may be time for commodities in general to...Read More

Earlier this year,  various gold stock indices (XAU, HUI, GDX) gained more than fifty percent in just three months. Most of the negativity associated with the sector was brushed aside and replaced by positive expectations for the future.Of course, the 90-day rush to this year’s highs did not occur in a vacuum. The price of gold rose by twenty percent over the same three-month period. Th...Read More

Technical analyst Clive Maund charts the longer term picture for silver.Like gold, silver has been in a corrective downtrend following its peak early in September, and it looks like it has further to run before its done, partly of course because we have a downside target for gold in the $1360–$1400 area before it turns up. On the 6-month month we can see how it has been stumbling lower withi...Read More

The gold miners’ stockshave largely been consolidating high following last summer’s powerful upleg.  That resilience has left sentiment relativelybullish, with traders mostly expecting this sector to soon start surging again. But the jury is still out on whethergold stocks will be lucky enough to evade a bigger correction.  Major downside risks still abound, primarilyin...Read More

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

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

Gold-linked exchange-traded products are growing in popularitywith investors. Assets held by gold ETFs have grown 38% globally in 2019. In October, according to the World Gold Council, gold ETFsattracted $1.9 billion in net inflows to reach a new record high total goldholding of 2,900 tonnes – at least on paper.There is good reason to be skeptical of whether all these “gold”vehic...Read More

Gold,silver, and mining stocks reversed practically exactly at their double trianglereversal point and the short positions that we opened along with takingprofits off the table from the previous longpositions, became profitable almost instantly. There’s quite a decline to catchhere, and it seems that only a small part thereof had already taken place. PMsReversingTheabove chart clearly shows...Read More