The UK inter-merchant price range for austenitic alloy steel fell by ?10-20 per tonne this week, with the nickel price softening over the week, sources said on Friday February 23.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-990 ($1,322-1,378) per tonne delivered on Friday, compared with ?960-1,010 per tonne on February 16."While the scrap pric...Read More
In the previous part, we thoroughly analyzed the bull and bear trends in the U.S. dollar. But what about gold cycles? Let’s look at the chart below, which shows the long-term behavior of gold prices. Chart 1: Gold bull and bear cycles (from 1971 to 2018, London P.M. Fix, in $).As one can see, there were only four cycles compared to six in the U.S. dollar: two gold bull markets and two gold b...Read More
Mainstream economics uses a fairly simple equation when it comes to public policy: More government spending equals more growth, which is just about always a good thing. The problem is with the "just about always" part. At the bottom of recessions, tax cuts and higher government spending can indeed stop the shrinkage and get things going again. And fiscal stimulus might be relatively harmless whe...Read More
Full Article: Bob Moriarty: Ignore All The FoolsBy: Energy and Gold LtdI can't recall a time in my 15 years in the market in which there was more noise flying at market participants from all directions. Never has it been more important to be selective of what and whom one listens to. Our time is valuable, as is our mental and emotional bandwidth. Spend wisely in all areas of your life.My latest c...Read More
Gold is faring quite well today technically, though you sure wouldn't know it from the rampant bearish sentiment. Gold's price is in a strong uptrend over a year old, high in both its current upleg and young bull market. Gold isn't far from breaking out to its best levels since September 2013, a really big deal. The stock markets even finally sold off after years of unnatural calm. Yet traders are...Read More
By Alasdair Macleod"While it is the duty of the citizen to support the state, it is not the duty of the state to support the citizen" - President Grover ClevelandThe point President Cleveland made back in the 1880s was that individuals and vested interests had no rights to preferential treatment by a government elected to represent all. For if preference is given, it is always at the expense of...Read More
This is the president's highest job approval rating since June of last year and surpasses Obama's 45% approval on this same date in the second year of his presidency.Continue...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort257,20566,28367,636154,913369,791479,754503,710Change from Prior Reporting Period 5,345-9,9713,3944,06624,40812,80517,831Traders17877754658262177 Small Speculators LongShortOpen Interest 48,40024,444528,154 3,604-1,42216,409 non reportable positionsChange from the previous report...Read More
The gold market is setting up for a perfect storm as the top mining producers' supply is forecasted to decline right when demand is likely to surge. The surge in gold demand will occur as the broader stock markets roll over and begin their inevitable massive correction. Due to the tremendous amount of leverage in the system, the coming market correction will be quite violent at times. If investors...Read More
Mainstream economics uses a fairly simple equation when it comes to public policy: More government spending equals more growth, which is just about always a good thing.Continue...Read More
By David SmithAll great events hang by a hair. The man of ability takes advantage of everything and neglects nothing that can give him a chance of success; whilst the less able man sometimes loses everything by neglecting a single one of those chances.~Napoleon BonaparteChina's launch several years ago of the One Belt, One Road Initiative is set to become the biggest commercial linking-system co...Read More
China's domestic rebar prices rose on Friday February 23 following gains in the futures market. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($614-622) per tonne, up 30-40 yuan per tonne Northern China (Beijing): 4,000-4,040 yuan per tonne, up 50 yuan per tonne Traders raised their offers following gains in the futures market, but they concluded very few transactions since...Read More
"Mnuchin: policies will raise wages w/out inflation. Yeah, sure. And we are going to expand the Buffalo Art Museum without making it bigger."Continue...Read More
Gold is faring quite well today technically, though you sure wouldn't know it from the rampant bearish sentiment. Gold's price is in a strong uptrend over a year old, high in both its current upleg and young bull market. Gold isn't far from breaking out to its best levels since September 2013, a really big deal. The stock markets even finally sold off after years of unnatural calm. Yet t...Read More
Traders should consider that any lasting break above $1,375 would confirm that the multiyear downtrend has reversed.Continue...Read More
The base price assessment in Europe for 2mm, grade-304 cold-rolled (CR) stainless steel sheet has widened upward by ?,?10 per tonne over the past week, despite poor demand and continued import pressure, sources told Metal Bulletin on Friday February 23.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,110 ($1,304-1,365) per tonne del...Read More
There was little activity in China's domestic stainless steel market over the past week due to the Chinese New Year, which has resulted in supply pressures increasing.Traders were offering stainless cold-rolled coil at 14,800-15,500 yuan ($2,329-2,439) per tonne, the same level as offers made before the February 15-21 Chinese New Year break, market sources said. No transactions were heard on Thurs...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More