Strengthening export demand from Europe to key destinations such as Turkey and the Indian subcontinent has pulled up prices for light iron, grade-5C steel scrap in the United Kingdom this week, sources told Metal Bulletin on Friday March 2.The UK light iron scrap market has now moved up for three weeks in a row. Metal Bulletin's price assessment for UK grade-5C ferrous scrap on an inter-merchant b...Read More
CloseGain/LossOn WeekGold $1321.90+$6.60-0.56%Silver$16.51+$0.02-0.06%XAU78.75-0.23%-2.21%HUI172.99-0.16%-2.11%GDM601.93+0.02%-1.94%JSE Gold1107.57+41.26+1.65%USD89.94-0.33+0.02%Euro123.28+0.62+0.24%Yen94.66+0.42+0.95%Oil$61.25+$0.26-3.62%10-Year2.860%+0.053-0.24%Bond144.3125-1.03125+0.13%Dow24538.06-0.29%-3.05%Nasdaq7257.87+1.08%-1.08%S&P2691.25+0.51%-2.04% The Metals: Gold rose $10 to $1...Read More
By Ira EpsteinWill the President walk back hit tariff threat or not?https://www.iraepstein.com/ Read More
Goldmoney's Head of Research, Alasdair Macleod, shares his thoughts on the Oil-Yuan Futures and the implications for gold.Alasdair Macleod is head of research for GoldMoney. He also runs FinanceAndEconomics.org, a website dedicated to sound money and demystifying finance and economics. He has a background as a stockbroker, banker and economist. Read More
By Visual Capitalist>50% of all steel, cement, nickel, and copper goes thereThe Chart of the Week is a weekly Visual Capitalist feature on Fridays.It's said that in China, a new skyscraper is built every five days.China is building often, and they are building higher. In fact, just last year, China completed 77 of the world's 144 new supertall buildings, spread through 36 different Chinese citie...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort251,98173,26372,017161,527361,323485,525506,603Change from Prior Reporting Period -5,2246,9804,3816,614-8,4685,7712,893Traders17378834658255187 Small Speculators LongShortOpen Interest 47,33526,257532,860 -1,0651,8134,706 non reportable positionsChange from the previous reporting...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome back Michael Pento, president and founder of Pento Portfolio Strategies, and author of the book The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market.Michael is a well-known money manager and a fantastic market commentator, and over the past few years has been a wonderful guest and...Read More
The US dollar has fallen rather sharply over the past year or so, despite ongoing Fed rate hikes. This persistent dollar weakness has really boosted gold. There's a fascinating interplay between these two currencies and futures speculators' expectations for Fed rate hikes. These traders hang on every word from top Fed officials, which greatly influences their trading. So these relationsh...Read More
Every few decades a new "command and control" economy emerges, puts up awesome initial numbers, and convinces people prone to dictator-worship that they've seen the future and it works. Between the 1920s and the 1970s, for instance, lots of influential people thought the Soviet Union would overtake the West, forcing the "free world" to embrace top-down economic planning.Then in the 1970s and 80s...Read More
South American flat steel import prices increased significantly this week, with mills in China returning to the market with high-priced offers after the Chinese New Year holiday."On Thursday and Friday last week, the market seemed to open weakly in China, so all mills held their offers," a South America-focused trader said. "Then on Monday, the market opened very strongly, and mills applied strong...Read More
Google is being sued by a former employee who claims he was fired for not rejecting white and Asian male job applicants. Continue...Read More
As a general rule, the most successful man in life is the man who has the best informationWhile there is disagreement over its causes - man-made versus natural - the reality of climate change is an incontrovertible fact. The planet is warming, affecting our weather, our oceans, our growing seasons, even our food, as crops fail, causing shortages and price hikes. Storms are becoming more frequent...Read More
Some coated coil producers in Turkey have raised their prices this week, but market participants were expecting prices to increase further.Domestic pricesOne Northern Turkish producer was offering hot-dipped galvanized (HDG) coil in 0.50mm gauge at $830 per tonne ex-works this week, while a second producer in the same region was fully booked until late May and did not offer any price.https://www.m...Read More
The US dollar hasfallen rather sharply over the past year or so, despite ongoing Fed ratehikes. This persistent dollar weaknesshas really boosted gold. There’s afascinating interplay between these two currencies and futures speculators’expectations for Fed rate hikes. Thesetraders hang on every word from top Fed officials, which greatly influencestheir trading. ...Read More
By Gordon Longhttp://gordontlong.com/ Read More
Onemonth after the February stock market rout is an excellent time to step backand review all the facts – and their implications for the gold market. Here’sexactly what happened – and what it implies for your capital allocation.Aftermore than a year of continuously advancing, the S&P 500 fell nearly 10percent in five days.Thesell-off was allegedly triggered by the surprisingl...Read More
Flat steel prices in Turkey's domestic, import and export markets kept increasing this week amid strong demand, market participants told Metal Bulletin on Friday March 2.Local producers were fully booked until the middle of May, and were not giving discounts.Domestic pricesHot-rolled coil (HRC) producers in Turkey have been offering material at $660-670 per tonne ex-works for May production, up fr...Read More
This article was written for Miles Franklin by Gary Christenson. Link is here.Financial sacrifices are so obvious and commonplace they are seldom acknowledged.Borrowing money on a credit card, mortgage or car loan to purchase something is typical. You have sacrificed future spending for use in the present.1) If the purchase, financed by debt, increases income more than the cost of debt ser...Read More