A conference call is to follow shortly afterward. Pretium Resources Inc. (PVG:TSX; PVG:NYSE) announced in a news release it will provide Q4/19 and full year-2019 financial and operational results before the market opens on Feb. 12, 2020. The company will hold a conference call afterward to discuss the results, also on Feb. 12, at 7 a.m. PST (10 a.m. EST), accessible through www.pretium.com.Also,...Read More
The U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheating.The DOJ investigation of...Read More
Clint Siegner, Money MetalsThe U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheat...Read More
Stewart Thomson, Graceland Updates 1. To view the only virus more concerning than Corona, please click here now. The global government debt virus!2. In America, the government's debt to GDP ratio is now three times the level it was when Ronald Reagan got elected. Simply put, Donald Trump doesn't have the wiggle room that "Jellybean Ron" did... to ramp up debt, produce GDP growth with...Read More
By Dave KranzlerThe Fed is trapped. If it stops adding money to the money supply, the stock market will crash. It's already extended the repo money printing program twice. The first extension was to February and now it has extended it again to April.What was billed as a temporary "liquidity problem" in the overnight repo market is instead significant problems developing in the credit and der...Read More
By: Ira EpsteinGold has been drifting short-term. Higher high, higher low -- not a trend:Read More
Unless the real impact of the corona virus is known, gold will range trade while industrial metals will rise. Volatility will rise from today. Trade very carefully. US economic data releases will have to beat street expectation this week for gold price to move into a short term bearish phase. In February gold prices have been falling on Singapore open. This suggest lack of physical demand in Asi...Read More
YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMBy Ed Steer08 February 2020 -- Saturday The gold price wandered around a few dollars either side of unchanged on Friday -- and that lasted until the job numbers hit the tape at 8:30 a.m. in New York. It rallied a bit from there, but obviously ran into 'something' a few minute after the 9:30 open of the equity markets. Once the 10 a.m. EST a...Read More
What underlies the tremendous runup in the price of Palladium and now the giant spike in Tesla stock? They are connected. Tesla stock has spiked despite its self-driving cars doing strange things like running people over and spontaneously combusting. The reason for this is the relentless drive towards electric cars which will result in a massive increase in demand for palladium and electric car...Read More
By: Ira EpsteinCoronavirus impact on supply chains coming? Bigger picture on the gold market: monthly uptrend is bullish, bias is up, momentum is still up. 18 month moving averages is still over the 100 month, another bullish sign.Read More
StrengthsThe best performing metal this week was palladium, up 1.44 percent as Jeffrey Currie, head of global commodities research at Goldman Sachs, commented he sees the potential for palladium to test $3,000. With Friday's gain, gold saw a third straight day of positive momentum as concerns of economic fallout surrounding coronavirus outweighed stronger-than-expected U.S. job gains. Holdings i...Read More
Rick Ackerman, Rick's Picks Could it possibly get any better? Trump has shrugged off impeachment and taken a well-earned victory lap, the Democrats are headed for a landslide loss in November, and the U.S. consumer economy is hitting on all twelve cylinders, powered by shop-till-you-drop exuberance that has made even the ongoing, trillion dollar writedown of shopping malls a relatively nigg...Read More
Coronavirus has officially surpassed SARS in death tollThe Dow picked up an impressive triple-digit win today, despite trading more than 100 points in the red at its session lows. Powered by a 2.6% burst from Microsoft (MSFT), the blue-chip index at least for a day shook off the worsening coronavirus outbreak, which has now surpassed SARS with a death toll of 908. Meanwhile, the S&P 500 roared hig...Read More
The shares of MCK, SPCE, and LYFT are gaining todayThe shares of McKesson Corporation (NYSE:MCK), Virgin Galactic Holdings Inc (NYSE:SPCE), and Lyft Inc (NASDAQ:LYFT) are all trading higher today. In response, options trading has picked up on MCK, SPCE, and LYFT. Let's take a look at the data around the stocks.MCK was last seen up 3.6% at $161.93, flirting with two-year high territory, while tryin...Read More
The appareler just ran into familiar pressure at its 160-day moving average With earnings due out before the bell tomorrow morning, Under Armour (NYSE:UAA) has clung close to the breakeven today, but is now up 0.6% at last check, to trade at $20.38. For the year, the equity has lost over 6%, but has been mostly contained by its $21.50 and the $20 regions. However, a recent run up to its 160-day m...Read More
Analysts were unsure of the equity coming into todayOne biotech in focus this afternoon is Adverum Biotechnologies Inc (NASDAQ:ADVM), the equity surging near the top of the Nasdaq Composite (IXIC) after revealing an upbeat, early stage trial data for its macular degeneration gene therapy drug. Specifically, the trial drug did not need "rescue injections" to control the disease. In response, ADVM...Read More
Coronavirus concerns step back as tech moves higherStocks are bringing in modest gains in afternoon trading, the Dow Jones Industrial Average (DJI) paring its early morning losses. A surge in Amazon.com (AMZN) shares has the Nasdaq Composite Index (IXIC) moving higher as well, while the S&P 500 Index (SPX) is following closely behind. Concerns regarding the lack of containment of fatal Corona...Read More
Put buying hasn't been relatively popular on GLD Gold-tracking exchange-traded fund (ETF) SPDR Gold Shares (GLD) is trading up 0.2% today at $148.15, as the coronavirus concerns push some investors to gold. In the meantime, options trading has picked up, with puts trading at six times the expected pace today.The most popular contracts by far are the April 135 and 140 puts, where more than 156,000...Read More
Calls are tremendously popular today, but have been for a whileThe shares of L Brands Inc (NYSE:LB) are up 4.3% to trade at $24.60 this morning, after CNBC reported the retailer was in talks with private equity firm Sycamore Partners about selling its Victoria's Secret brand. Although the specifics of the deal are unclear at the moment, an announcementcould come as soon as this week. L Brands s...Read More
QSR shares have moved past resistance from the 50-dayRestaurant Brands International (NYSE:QSR) is one stock on the rise this morning, thanks toa well-received earnings report. The company posted a top- and bottom-line beat, thanks mostly to strong chicken sandwich sales from Popeyes. The firm's CEO Joe Cil also told investors that the company plans to "invest behind our leadership in the fast-gro...Read More