Peculiar BehaviorAs I have shown in previous issues of Seasonal Insights, various financial instruments are demonstrating peculiar behavior in the course of the week: the S&P 500 Index is typically strong on Tuesdays, Gold on Fridays and Bitcoin on Tuesdays (similar to the S&P 500 Index). The quest for profitable foresight...[PT] Several readers have inquired whether currencies exhibit such patt...Read More
The metals prices on the London Metal Exchange on Thursday February 22 are down an average of 1.6%, with nickel prices down the most with a 2.3% decline to $13,460 per tonne and copper prices off 1.6% at $7,024 per tonne. With China back at work after the Lunar New year holiday, volumes on the LME have been high with 16,127 lots traded as of 07:32 am London time. Wednesday's trading had seen some...Read More
CloseGain/LossGold $1331.50+$7.00Silver$16.61+$0.13XAU80.02-0.61%HUI175.85-1.57%GDM608.39-0.43%JSE Gold1099.99-47.06USD89.77-0.28Euro123.29+0.37Yen93.85+0.82Oil$62.77+$1.0910-Year2.922%-0.014T-Bond143.09375+0.40625Dow24962.48+0.66%Nasdaq7210.09-0.11%S&P2703.96+0.10% The Metals: Gold fell $3.70 to $1320.80 in Asia, but it then rallied back higher for most of trade in New York and ended near...Read More
Porter and Buck welcome business leader and chairman of Forbes Media, Steve Forbes. They discuss why some Americans have lost the passion for free markets, what's happening on college campuses, and the enormous gap between productivity and stagnant wages. Steve demystifies the real relationship between gold and fiat paper currencies, how interest rate manipulation distorts financial markets, and t...Read More
If US President Donald Trump approves Section 232 recommendations made by the country's Commerce Department, it could threaten the European steel market with export reduction and the growth of redirected import flows, sources told Metal Bulletin.The decision, however, might also allow European exporters to sell increased quantities of long steel products into the US market, should President Trump...Read More
Richard Duncan and the host talk about Quantitative Tightening and the impact on the US Stock Market. The group has an in-depth discussion about the bond yield curve and how it might look as 2018 progresses. Richard Duncan has worked at the IMF and World Bank and has over 30 years of experience in financial markets.Richard Duncan is an author & economist who has worked as an equities analyst in Ho...Read More
By Gary SavageSometimes the volatility of daily price movement causes traders to lose sight of what is really happening. This video gives a refreshing view of the bigger picture for a number of markets using their weekly charts.https://blog.smartmoneytrackerpremium.com/ Read More
Rick Rule and good friend Doug Casey discuss the cyclical nature of commodity markets and the next bull market.Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputa...Read More
China's domestic prices for hot-rolled coil were the same as those before the country's weeklong break on Thursday February 22 with major end-users yet to return, but higher bids from overseas buyers provided some support to the export segment.DomesticEastern China (Shanghai): 4,110-4,130 yuan ($648-651) per tonne, unchangedNorthern China (Tianjin): 4,000-4,030 yuan per tonne, unchangedInventory l...Read More
By Harris KuppermanAbout a year ago, I read The Great Beanie Baby Bubble by Zac Bissonnette. It details how basic human greed, an artificial sense of scarcity and newly created technology like eBay, were used to artificially inflate re-sale prices and convince otherwise intelligent humans to sink their life savings into plush toys that were being created by the millions at a price-point measured...Read More
Grant Williams questions the strength of the so-called synchronized global recovery.Part 1 (parts 2 & 3 below)Grant Williams explains his philosophy on precious metals and crypto-currencies.Part 2Grant previews his talk for the 2018 Sprott Symposium in Vancouver.Part 3Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He...Read More
Stocks dove late in Wednesday's session on news that the minutes from the January FOMC meeting were more than a little hawkish. From where we were sitting, the selloff looked like a brazen shakedown. It amounted to a 475-point reversal in the Dow, but that's the kind of plunge that Wall Street's thimble-riggers engineer whenever they are hungry for shares at bargain prices. For their part, the F...Read More
China's ferrous futures tumbled during the morning trading session on Thursday February 22 with sentiment cooling continually in the opening hours after the country returned to work after a weeklong Lunar New Year holiday.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,860 yuan ($608) per tonne, down 78 yuan per tonne May hot-rolled coil: 3,924 yuan per tonne, down...Read More
- Russia increased its holdings to 1,857 tons, topping the People's Bank of China's 'reported' 1,843 tons- Russia surpasses China as 6th largest holder of gold reserves - after U.S., Germany, IMF, Italy and France- Turkish central bank added 205 tons "over 13 consecutive months" - Commerzbank- Meanwhile, Russian ally Venezuela is launching a new gold-backed cryptocurrency next weekRussia has...Read More
Domestic rebar prices in the United States have risen by $20 per ton, just shy of recent $25-per-ton mill hikes, according to market sources.American Metal Market's domestic rebar assessment rose to $32-33 per hundredweight, up $1 per cwt from $31-32 per cwt two weeks ago.One fabricator reported unchanged pricing for February, despite the stated timing of the increase announcements. His...Read More
Are they? As usual, the FOMC minutes provoked diverse interpretations, both dovish and hawkish. Let’s analyze them, separating the wheat from the chaff. What do the recent minutes really mean for the gold market?Hawks Attack BullionWe have long warned investors about the hawkish treat. For example, as early as in the October edition of the Market Overview, we wrote that the Fed under Powell...Read More
Even in today's world replete with plutocrat public relations masquerading as journalism, it's rare to encounter an article simultaneously panderingContinue...Read More
Turkish domestic rebar prices have gone up sharply over the past week, in line with rising scrap values and strong demand in the country's local market, sources said on Thursday February 22.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $590-620 per tonne ex-works, up from last week's $580-595 per tonne.The domestic rebar price in...Read More