By Frank HolmesStrengths? The best performing metal this week was silver, up 1.68 percent. Gold traders remain bullish on the yellow metal for a third week on sustained dollar weakness, according to the Bloomberg weekly survey. The gold price heads toward its highest since August 2016, soaring above $1,350 this week.? Australia will be opening its first gold-bac...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
John believes that when taking rising personal debt into consideration, the economy barely grew in Q4 of 2017. The savings rate has plunged to near record levels under Trump. The tax cut is also inflationary, interests rates are heading up and the Fed claims to be shrinking its balance sheet. And the dollar is sinking like a stone. If true, there could be major economic trouble ahead. John Rubino...Read More
China's domestic hot-rolled coil prices remained largely steady on Monday January 29 amid inactivity, which kept the export market quiet with most participants taking a wait-and-see approach. Domestic Eastern China (Shanghai): 4,090-4,130 yuan ($647-654) per tonne, up 10 yuan per tonne Northern China (Tianjin): 3,940-3,970 yuan per tonne, unchanged HRC futures surged in the first 15 minutes of the...Read More
By Graham SummersRates continue to rise, though stocks remain oblivious. The yield on the 10-Year US Treasury continues to soar, with a confirmed breakout from its 10-year downtrend.Now, cynics would ask, "why does this matter? The yield is at the same level as it was in 2009, 2010, 2011, 2013, and 2014."It matters because throughout this time period, corporates and governments were adding debt....Read More
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 Money and The Markets (free ebook). Gregory currently hosts a b...Read More
The changes to US taxes that were approved late last year have drawn acclaim and criticism, but in most cases both those who view the tax changes positively and those who view the tax changes negatively are missing two important points.Most criticism of the tax changes boils down to one of three issues. The first is that the tax cuts favour the rich. This is true, but any meaningful tax cut wil...Read More
India's JSW has launched a bid to purchase steelmaker Monnet Ispat Steel, representatives of both companies confirmed to Metal Bulletin on Monday January 29.If successful, the acquisition would give JSW a stronger presence in the Indian domestic plate and bar sectors, where it currently trails competitors including Essar Steel and Jindal Steel and Power (JSPL). Monnet Ispat owns an integrated stee...Read More
To say that gold's weekly volume was big is like to say that snails are not the fastest animal. You can't say that it's a lie, but it doesn't really convey the entire truth, either. Gold's weekly volume was highest EVER. Yes, ever. There was not a single week - not ever during the 2011 top or when gold declined in 2008 - when gold moved on volume that was higher than what we saw last week. Is t...Read More
"We want full transparency," Sarah Sanders said Monday. "That's what we have said all along."Continue...Read More
CIS export rebar and wire rod prices lost $10-15 per tonne over the past week, with a lack of buying activity compounded by a downturn in sentiment in the billet and scrap markets. Prices fell despite reduced availability in the export market after Russia's NLMK focused on selling to the domestic market and fellow Russian steelmaker Abinsk Steel Mill remained out...Read More
The FOMC meeting and US January nonfarm payrolls will be the key. The US economy will see a rise in consumer spending as bonuses rise due to Trump's tax and trickle down effects. If the Federal Reserve is aggressive then we might just see a March interest rate hike. The US dollar is oversold. Any positive news can result in the US dollar paring most of January's losses and even gain. Bubbles hap...Read More
I started in the Treasury bond business in 1985 after a 10-year career in commercial banking. I retired as a senior officer of Citibank that year Continue...Read More
Oman's Jindal Shadeed, part of India's Jindal Steel & Power (JSPL), produced.420,000 tonnes of crude steel in October-December 2017, the company said on Thursday January 25.This was up quarter-on-quarter by 34.48% from 310,000 tonnes produced in the third quarter of the year, it added.Its rebar production reached 240,000 tonnes in the fourth quarter of 2017, and...Read More
Mike Gleason: Jim, you're a very well-traveled individual who has his finger on the pulse of what's going on, not just here in the states, but around the world. I know you were just in Europe. Is complacency an issue all over the globe or is it just a Western World thing or an American thing? What are people thinking and doing in other parts of the world? I know that's a pretty broad question, but...Read More
Continue...David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism...Read More
Michael Stumo was impressed by Trump's performance at Davos. He was also favorably disposed towards Commerce Secretary Wilbur Ross's statements about US trade policy. And then right afterwards, tariffs were increased on Chinese solar panels and Korean washing machines. It appears that we finally have a president who is walking the walk on trade. Read More
Tosay that gold’s weekly volume was big is like to say that snails are not thefastest animal. You can't say that it’s a lie, but it doesn't really convey theentire truth, either. Gold’s weekly volume was highest EVER. Yes, ever. Therewas not a single week – not ever during the 2011 top or when gold declined in2008 – when gold moved on volume that was higher than what...Read More