"Why would a failing bank be up almost 2 percent right now?"Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Mon...Read More
Russia will restrict scrap exports from its Far East region by banning shipments from main ports from late July to January 2019, according to an order from the government.From July 21, scrap exports will only be allowed through nine small ports in its Far East region. Shipments from Vladivostok, Nakhodka and Vanino, key ports for bulk cargo shipments from the region, will be forbidden. The order w...Read More
Mohamed El-Erian, Allianz chief economic advisor, provides insight to the markets amid trade fears and Federal Reserve interest rate uncertainty.Part 1 (parts 2 & 3 below)Italy has reintroduced the issue of sovereign risk, says Mohamed El-Erian, Allianz chief economic advisor, talking about the banking sector in Europe after Deutsche Bank's U.S. unit failed the Fed's stress test.Part 2It's going t...Read More
China's domestic rebar prices were largely flat on Friday June 29 amid weak demand, despite futures moving higher. Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($602-609) per tonne, up 10 yuan per tonne Northern China (Beijing): 3,870-3,910 yuan per tonne, unchanged Rebar futures rose further on Friday and billet prices also picked up on good demand. Prices in the spot market, however, were...Read More
"The president has been clear, with us and with others, he has concerns about the WTO, he thinks there's aspects of it that are not fair, he thinks that China and others haveContinue...Read More
Metal Bulletin proposes to increase the frequency of its assessment of cfr Southeast Asia import prices for steel billet to daily from weekly.This is in response to feedback that a terminal market import price into the Philippines would be a key indicator for the Asian billet sector.Liquidity has been observed to be sufficient for the weekly assessment to be made a daily one. This alteration is de...Read More
"Concerns include material weaknesses in the firm's data capabilities and controls supporting its capital planning process, as well as weaknesses in its approaches and Continue...Read More
European leaders have worked out a deal on immigration that is expected to satisfy the Italian government and calm fears of a potential collapse of Angela Merkel's coalition in Germany.Continue... Read More
European stainless steel base prices were unchanged for the fourth week running on Friday June 29 despite a sharp rise in alloy surcharges for July. Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe was stable at ?,?1,000-1,050 ($1,156-1,214) per tonne delivered on Friday, while the weekly assessment for grade-316 C...Read More
Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike. Saudi Arabia is moving quickly to head off a supply crunch, aiming to dramatically ramp up production to a record high 11 million barrels per day in July, according to Reuters.The increase, if it can be pulled off, would be an incredibly rapid...Read More
CloseGain/LossOn WeekGold $1252.50+$4.30-1.39%Silver$16.09+$0.09-2.25%XAU81.59+2.21%-0.50%HUI174.52+2.35%-1.36%GDM620.96+1.91%+0.35%JSE Gold1059.76+35.81-0.64%USD94.57-0.75+0.02%Euro116.79+1.13+0.14%Yen90.37-0.12-0.83%Oil$74.15+$0.70+8.12%10-Year2.855%+0.015-1.38%Bond144.90625-0.0625+0.63%Dow24271.41+0.23%-1.26%Nasdaq7510.30+0.09%-2.37%S&P2718.37+0.08%-1.33% The Metals: G...Read More
Inthe latest edition of the Market Overview,we have analyzed the risk related to the rising U.S. public debt and private leverage. This month, we will adopt a more global perspective.Until recently, thanks to the synchronized worldwide growth, it was easy tolose sight of the elephant in the room. But as U.S. interest rates have climbed in recent months and dollar has appreciated, we cannot ignore...Read More
The GDX/COPX ratio has broken above the 50 & 200 day moving averages and is still going, despite gold’s ignominious state at the moment. Here’s what gold (GLD) looks like today.Here is what copper looked like at yesterday’s close (in-day today it is a hair under 3, at 2.9981/lb). And yes, that is important support.Against the broader Industrial Metals complex GDX is weaker. B...Read More
Imports of hot rolled coil (HRC) into the European Union (EU) rose by 5.8% to 3.52 million tonnes during the first five months of 2018 from 3.3 million tonnes in January-May 2017, according to regional steel association Eurometal.Import volumes of Russian-origin HRC into the EU rose sharply to 749,000 tonnes in January-May 2018 from 147,000 tonnes a year earlier.In October 2017, the European Commi...Read More
CloseGain/LossOn WeekGold $1252.50+$4.30-1.39%Silver$16.09+$0.09-2.25%XAU81.59+2.21%-0.50%HUI174.52+2.35%-1.36%GDM620.96+1.91%+0.35%JSE Gold1059.76+35.81-0.64%USD94.57-0.75+0.02%Euro116.79+1.13+0.14%Yen90.37-0.12-0.83%Oil$74.15+$0.70+8.12%10-Year2.855%+0.015-1.38%Bond144.90625-0.0625+0.63%Dow24271.41+0.23%-1.26%Nasdaq7510.30+0.09%-2.37%S&P2718.37+0.08%-1.33% The Metals: G...Read More
CloseGain/LossOn WeekGold $1252.50+$4.30-1.39%Silver$16.09+$0.09-2.25%XAU81.59+2.21%-0.50%HUI174.52+2.35%-1.36%GDM620.96+1.91%+0.35%JSE Gold1059.76+35.81-0.64%USD94.57-0.75+0.02%Euro116.79+1.13+0.14%Yen90.37-0.12-0.83%Oil$74.15+$0.70+8.12%10-Year2.855%+0.015-1.38%Bond144.90625-0.0625+0.63%Dow24271.41+0.23%-1.26%Nasdaq7510.30+0.09%-2.37%S&P2718.37+0.08%-1.33% The Metals: G...Read More
By Ira EpsteinGold and silver bounce at the end of the quarter, but not by much.https://www.iraepstein.com/ Read More
"In out, in out, shake it all about" - not just a line from the Hokey Cokey, but a pretty accurate picture of the attitude of banks toward the metals (and general commodities) business during his career, Lord Copper reflects.Sometimes it's hot, sometimes it's not, and trading teams have been built, dismantled and built again with what often seems like gay abandon. But that all stopped after the Do...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome in Frank Holmes, CEO and Chief Investment Officer at U.S. Global Investors. Mr. Holmes has received various honors over the years, including being named America's Best Fund Manager for 2016 by the Mining Journal. He is also the co-author of the book, The Goldwatcher: Demystifying Gold Investing and is a regula...Read More