The comments above & below is an edited and abridged synopsis of an article by Ronan ManlyNineteen central banks from Germany to South Africa were asked: "In the context that central banks hold gold as a reserve asset on their balance sheets, can you clarify the main reasons why [you] continue to hold gold as a reserve asset?"The answers are varied, but with consistent themes. Many respondents cit...Read More
Sentiment is a strange thing.Investors are human beings. And human beings are irrational, particularly when it comes to money related issues. The notion that the market, as a collection of irrational people, is somehow rational is ludicrous. With that in mind, sentiment can be a powerful tool for timing market turns. If sentiment changes, but price doesn't confirm the shift, then you know you're n...Read More
"China's launch on Monday of its crude futures exchange will improve the clout of the yuan in financial markets and could threaten the international primacy of the dollar, argues a new report by Hayden Briscoe, APAC head of fixed income at UBS Asset Management. 'This is the single biggest change in capital markets, maybe of all time,' Briscoe said in a follow-up telephone interview." - Kate Dugu...Read More
European mills are expected to use the region's newly launched safeguard case into steel import to increase their prices for hot-rolled coil (HRC), market sources told Metal Bulletin on Wednesday March 28.The European Commission (EC) launched the safeguard investigation into 26 steel product types on March 26 in an attempt to prevent the redirection of steel in the global export markets from the U...Read More
A new phrase has been added to our lexicon of late, and that is what has become known as "fake news." This new phraseology can be aptly applied to that which is presented by our old friends at the GATA (Gold Anti-Trust Action) committee.GATA has been trying to convince all those who are willing to listen that it is not its fault that the metals market dropped from 2011 to 2015 (where silver lost 7...Read More
The comments above & below is an edited and abridged synopsis of an article by Frank Holmes"In a January post, I showed how the price of gold rallied in the months following the 2015 and 2016 December interest rate hikes-as much as 29% in the former cycle, 17.8% in the latter. Gold ended 2017 up double digits, despite pressure from skyrocketing stocks and massive cryptocurrency speculation.""I for...Read More
By Bron SucheckiIn commodity markets backwardation is an indicator of physical shortages. Shortages result in buyers bidding up the cash price of the commodity above the future prices. This creates a profitable trade (called decarry) for those holding the physical commodity - they can sell it now and buy a futures contract at a lower price, locking in a profit.Backwardation should therefore be a...Read More
CloseGain/LossGold $1325.70-$18.60Silver$16.29-$0.22XAU79.64-1.97%HUI172.78-1.99%GDM605.54-2.00%JSE Gold1131.25+13.20USD90.13+0.74Euro123.06-0.98Yen93.56-1.44Oil$64.38-$0.8710-Year2.773%-0.008T-Bond145.8125+0.1875Dow23848.42-0.04%Nasdaq6949.23-0.85%S&P2605.00-0.29% The Metals: Gold saw slight gains in early Asian trade, but it then fell back off for most of the rest of th...Read More
Sentiment is a strange thing.Investors are human beings. And human beings are irrational, particularly when it comes to money related issues. The notion that the market, as a collection of irrational people, is somehow rational is ludicrous. With that in mind, sentiment can be a powerful tool for timing market turns. If sentiment changes, but price doesn't confirm the shift, then you know you're n...Read More
CloseGain/LossGold $1325.70-$18.60Silver$16.29-$0.22XAU79.64-1.97%HUI172.78-1.99%GDM605.54-2.00%JSE Gold1131.25+13.20USD90.13+0.74Euro123.06-0.98Yen93.56-1.44Oil$64.38-$0.8710-Year2.773%-0.008T-Bond145.8125+0.1875Dow23848.42-0.04%Nasdaq6949.23-0.85%S&P2605.00-0.29% The Metals: Gold saw slight gains in early Asian trade, but it then fell back off for most of the rest of th...Read More
Full Article: Gold Is Within 'Spitting Distance Of A New HighBy: Eric Sprott(Kitco News) - The only investment traders can safely bet on going up is gold, said Eric Sprott, billionaire precious metals investor and founder of Sprott Inc."What's going up? One thing - gold. And silver. That's what we would expect to happen. It's impossible to tighten monetary policy with the situation the [Fed] lef...Read More
In early March, RT.com, the Russian based media network, asked me for comments and opinion on the subject of central bank manipulation of gold prices.The comments and opinion that I supplied to RT became the article that RT then exclusively published on its website on 18 March under the title "Central banks manipulating & suppressing gold prices - industry expert to RT". This article is now transc...Read More
Domestic prices for heavy steel plate in Europe have been under pressure because of slow trading activity, sources told Metal Bulletin this week.Metal Bulletin's assessment of prices for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?570-580 ($708-720) per tonne ex-works for the week ended Wednesday March 28, compared with ?,?580-590 per tonne ex-works a week earlier."Prices are...Read More
"Some things never change. Some things do." You might be wondering why we are quoting one of the lines from the Matrix movie. The reason is because that's exactly what we can say about the gold market and the price patterns in it. The thing that never changes is the fact that gold will always somehow react to the fundamental news, but the way it reacts will vary over time. Moreover, this quote c...Read More
By Nicholas LePan, GoldSeek.com Goldsource Mines Inc. (TSX-V: GXS) plans on developing from operating a small pilot gold mine to a junior gold producer in the coming few years with a potential production estimate of 50,000-70,000 ounces per year at its 100-per-cent owned Eagle Mountain Gold Project in Guyana. In the second part of 2018, if the company receives successful economic Pre-Feasibil...Read More
Sentiment is a strange thing.Investors are human beings. And human beings are irrational, particularly when it comes to money related issues. The notion that the market, as a collection of irrational people, is somehow rational is ludicrous. With that in mind, sentiment can be a powerful tool for timing market turns. If sentiment changes, but price doesn't confirm the shift, then you know you're n...Read More
Amazon has decided to offer a new service that seems innocent on the surface. The retailer has begun photographing packagesContinue...Read More
In commodity markets backwardation is an indicator of physical shortages. Shortages result in buyers bidding up the cash price of the commodity above the future prices. This creates a profitable trade (called decarry) for those holding the physical commodity - they can sell it now and buy a futures contract at a lower price, locking in a profit.Backwardation should therefore be associated with ris...Read More
By Avi GilburtFor those of you who remember the movie Trading Places, this was a famous scene that I always remember when we see emotional reactions in the market after a downdraft.And, when I went to read articles being published over the weekend, it seems they were all pretty much in agreement with the sentiment expressed in this scene: "You idiot. Get back in there and sell, sell, sell."Mar...Read More