(Kitco News) - Gold prices could be in store for the “mother of all short-covering” rallies, said one analyst, citing CFTC short positioning and the yellow metal’s strength in the face of higher U.S. dollar.Even $1,500 is not out of the realm of possibilities, according to ThinkMarkets chief market analyst Naeem Aslam, who sees the latest CFTC data as a positive sign for gold pri...Read More
MOSCOW (Reuters) - Russian President Vladimir Putin told U.S. National Security Advisor John Bolton on Tuesday he would like to hold new talks with U.S. President Donald Trump, suggesting they meet in Paris next month.Putin and Trump are expected to take part in an event in Paris on Nov. 11 to commemorate the end of World War One and Putin suggested they could meet on its sidelines, something Bolt...Read More
(Reuters) - Lockheed Martin Corp (LMT.N), the Pentagon’s No. 1 weapons supplier, on Tuesday posted a better-than-expected rise in quarterly profit, driven by higher production of its F-35 fighter jets, and forecast that sales would top Wall Street estimates for next year.Lockheed’s tax rate fell to 6.5 percent in the third quarter, helped by a larger-than-usual $1.5 billion contributio...Read More
Only one digit has changed. But it may have profound consequences, sending the country closer to junk status. Meanwhile, Rome and Brussels clash over budget plan. Will that duel benefit or harm the yellow metal? Only One Notch Above Being Junk Italian drama continues. On Friday, Moody’s, one of the most significant rating agencies in the world, downgraded the Italian credit rating from Baa2...Read More
Maurice Jackson: Joining us for a conversation is Brien Lundin, the president of Jefferson Financial, helping to protect your world.Please tell us about Jefferson Financial and what type of services you provide.Brien Lundin: We are essentially a provider of investment information. We publish Gold Newsletter, which is the oldest precious metals advisory in the world, having been started by Jim...Read More
(Kitco News)- The gold market has suffered under the weight of rising U.S.interest rates and a stronger U.S. dollar, but one bank sees a shift coming asequity markets have seen increased selling pressure this this past month.Analysts at Bank of America Merrill Lynch (BAML) said that inthis current environment they see gold prices pushing to $1,400 an ounce by theend of 2019. Along with their long-...Read More
Trump's trade spat with China directly impacted CAT and MMM earningsIt's an ugly day on Wall Street, with the Dow Jones Industrial Average (DJI) down more than 400 points at midday and on track to breach the 25,000 level on a closing basis for the first time since July 12. Weighing on the blue-chip index are negative earnings reactions for Caterpillar (CAT) and 3M (MMM), with results for both firm...Read More
NEW YORK (Reuters) - Oil prices fell nearly 3 percent to more than one-month lows on Tuesday after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of U.S. sanctions on Iran and as U.S. equity markets sold off.Brent crude futures LCOc1 dropped 2.8 percent, or $2.27, to $77.56 a barrel by 11:21 a.m. EDT (1521 GMT) after plunging to $77.50, the lowest since Sept....Read More
WASHINGTON (Reuters) - White House advisers on Tuesday are set to recommend that U.S. President Donald Trump’s planned U.S. Space Command develop ways for the military to operate in outer space, according to two administration officials briefed on the plans.The National Space Council, a White House advisory panel, will also recommend a review of existing treaty issues, and will unveil propos...Read More
Near-term HRL options are pricing in low volatility expectations at the momentSpam producer Hormel Foods (NYSE:HRL) fell 5% in immediate aftermath of its late-August quarterly report, but quickly pivoted that same day and went on to gain more than 10% over the next few weeks. The stock is up 14.8% in 2018 and 36% year-over-year, with a recent pullback contained by its 40-day moving average. With t...Read More
The stock market opened with a resounding thud on Tuesday morning, as the Dow Jones Industrial Average DJIA, -0.99% , at one point, had shed more than 500 points. The S&P 500 index SPX, -0.66% and the Nasdaq Composite COMP, -1.63% endured even harder hits, down more than 2% each. Read: Dow plunges amid corporate outlook, China selloff So, you must positioning yourself for that tasty bounc...Read More
Could this biotech bet bank you 1,700% profit?Contributed by Raging BullBig pharma isn't what it use to be and investors are wondering what the future holds for the Goliaths of the industry.Kyle Dennis, one of the most well known up and coming traders, saw this shift happening when others didn't. Years ago, he began to place a heavy emphasis on small-cap biotech stocks he saw enormous upside for a...Read More
Short-term options premiums are relatively rich at the moment, thoughThe shares of Cronos Group Inc (NASDAQ:CRON) topped out at a record high of $15.30 on Sept. 19, as the cannabis craze gripped Wall Street. The weed stock has since retreated from this milestone, and following a quick pop higher last week ahead of Canada's legalization of recreational marijuana, is down 8.2% today to trade at $7.8...Read More
(Reuters) - Tesla Inc (TSLA.O) shares rose 6 percent on Tuesday, after long-time critic and short-seller Citron Research had a change of heart on the company’s outlook, praising the success of the electric carmaker’s mass market Model 3 sedan.The firm lauded Tesla’s Model 3 in a research note, saying the sedan is a proven hit and many of the warning signs around the company have...Read More
Barrick Gold Corp. favors taking back control of its separately listed Tanzanian assets after completing its takeover of Africa-focused rival Randgold Resources Ltd., according to people familiar with the situation.Barrick spun off those assets in 2010 into a company now called Acacia Mining Plc. That unit - listed in London but majority owned by Barrick - has been dogged by operational setbacks...Read More
NEW YORK (Reuters) - The U.S. dollar fell on Tuesday after Wall Street opened lower, spurring a risk-off move that benefited the safe-haven Japanese yen and Swiss franc against the greenback.The Dow Jones Industrial Average .DJI, the S&P 500 .SPX and the Nasdaq Composite .IXIC were all around 2 percent lower at mid-morning, dragged down by disappointing earnings from industrial bellwether...Read More
(Reuters) - A group of former executives from Autodesk Inc and Flex Ltd has raised $179 million in venture capital for a manufacturing startup that aims to use a combination of robots and new software to remove much of the manual labor from manufacturing electronic devices.San Francisco-based Bright Machines focuses on two areas. One is “micro-factories” made up of robot cells it says...Read More
Gold Gold prices have surged on Tuesday morning and reached the upper trend line of a dominant ascending pattern near the 1,235.00 level. If the commodity price breaks the resistance of the trend line, the metal is set to surge at least up to the 1,240.00 mark. Meanwhile, a bounce off from the resistance and a following decline would reach back down to the pivot point at the 1,227.30 l...Read More
(Kitco News)- Safe-haven demand is once again boosting gold prices as U.S.equity markets drop 2% across the board.“Gold’s safe-haven allure is back,” said Phillip Streible, seniormarket strategist at RJO Futures. “Equities are doing down sharply andinvestors don’t know what to do, so they are turning to gold.”Safe-haven demand pushed gold prices to its highest l...Read More
(Kitco News) - Gold prices are still holding decent gains of around $10.00 an ounceafter hitting a nearly three-month high of $1,243.00, basis December Comex futures, in early U.S. trading Tuesday.However, the safe-haven metal has backed down from session highs as the U.S.stock indexes have moved up from their session lows, but are still tradingsolidly lower on the day. December gold was last up...Read More