Focus will now shift to US December private ADP job numbers tomorrow and Friday's US December nonfarm payrolls. Both these numbers should come it at or over 160,000 for gold and silver to see selling pressure. Use sharp dips to invest for Easter in both gold and silver. Trade pact with China and Brexit has already been factored by the markets. Trump has started 2020 with a fragile Middle east an...Read More
Over the past century, monetary systems change about every 30 to 40 years on average. Before 1914, the global monetary system was based on the classical gold standard.Then in 1945, a new monetary system emerged at Bretton Woods. I was at Bretton Woods this past summer to commemorate its 75th anniversary.Under that system, the dollar became the global reserve currency, linked to gold at $35 per oun...Read More
Dear Reader,Gold spiked after last Friday's drone strike that took out a top Iranian military official and is trading at seven-year highs.Yes, the news was dramatic and made a major impact. But geopolitics is just one factor driving gold. Even without the latest geopolitical tensions, gold is poised for a historic run.The first two major gold bull markets were 1971-80 and 1999-2011. Today, gold is...Read More
Normally, after tensions between Iran/Iraq and the US flare-up, Oil and Gold rally quite extensively but reversed sharply lower by the end of the session. Yes, Gold is 1% higher today and was up over $35 overnight, but Crude Oil has actually moved lower today which is a fairly strong indication that disruptions in oil supply from the Middle East are not as concerning as they were 10+ years ag...Read More
Gold and silver investors buy metals because they are scarce.Precious metals are by nature difficult to find, and hard to produce.Consequently, above ground stocks are limited and valuable, particularly whenpriced in unlimited fiat currencies. The bankers and government officials behind these fiat currencysystems don’t like stable monetary benchmarks such as gold putting theirinflation schem...Read More
LONDON, 7 January 2020 - Comment from BullionVault today leads the latest gold-price report from MarketWatch, the financial news and data site from the Dow Jones group of companies."The latest spike in gold prices is being driven by the sudden escalation in US-Iran tensions, which is hitting world stock markets and leading investors to seek shelter," MarketWatch quotes Adrian Ash, director of rese...Read More
LONDON, 7 January 2020 - Comment from BullionVault today leads a report on the New Year surge in gold prices from UK personal finance magazine MoneyWise."Like bullion prices," the article quotes Adrian Ash, director of research at BullionVault, "underlying demand for gold had already turned higher in 2019, most especially among investors in the Eurozone."Read Adrian's full comment in the Moneywise...Read More
Clive MaundIn this update I am not going to repeat the points made in the last fairly comprehensive update, instead we are going to focus on the importance of the resistance level just above where the price is now, and impact of the killing of the Iranian General and its potential implications for the gold price.On the latest 10-year chart we can see that gold is making a 2nd attack on the key m...Read More
"The best is yet to come."- Frank Sinatra, American singer, actor, producer, 1915-1998 "You are never too old to reinvent yourself."- Steve Harvey, American comedian, businessman, entertainer, b. 1957 "It is never too late to be what you might have been."- George Eliot, (Mary Ann Evens), English novelist, poet, journalist, translator, a leading writer...Read More
By: Ira EpsteinGold weekly swingline in bullish posture. Upside bias. $1491 area 18-week moving average at end of last week, support. Weekly gold chart over Bollinger band:Read More
Strengths? The top performing precious metal for 2019 was palladium, gaining 54.20 percent. In a weekly Bloomberg survey of analysts and traders, gold sentiment remained marginally bullish the first days of the New Year. The survey showed eight bullish, two bearish and seven neutral. At week-end, gold advanced toward a six-year high, climbing 1.5 percent to $1,551 an ounce in Lon...Read More
Gold faces big resistance between $1590-$1610 zone. Only a break of this zone will result in $1707.50 and $1822 in the near term. Short term hot money will flow into gold if it rises this week. Gold could be a Las Vegas if it rises this week. The quicker the pace of rise, the more will be short term volatility in gold. I will be closely watching the pace of rise and not the actual rise. Silver i...Read More
GOLD COT REPORTS WERE DELAYED (JAN. 3), DUE TO THE HOLIDAYS: Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 381,62053,695140,611202,925569,416725,156763,722 Change from Prior Reporting Period 17,310-4,96318,589-27925,81635,62039,442 Traders 23351765558312164 Small Speculators LongShortOpen Interest 61,01022,444786,1...Read More
Gold continued to explode higher for a ninth straight winThe Dow finished higher to kick off the week, as Wall Street monitored rising tensions between the U.S. and Iran. The blue-chip index chipped away at a 216-point deficit to break into positive territory, while the S&P 500 and Nasdaq both finished higher amid outsized gains from the tech sector. Elsewhere, Wall Street's "fear gauge," the Cboe...Read More
The homebuilder is coming off a solid 2019Traders will have some earnings releases to consider this week, including results from homebuilder Lennar Corporation (NYSE:LEN). The company is scheduled to report earnings before the open this Wednesday, Jan. 8, and bulls will be hoping for a repeat of last quarter's performance, when the stock gained 3.8% the day after earnings. What's more, the equity...Read More
J.P. Morgan Securities just upgraded Nordstrom to a "neutral" ratingRetail name Nordstrom, Inc. (NYSE:JWN) is getting a boost today, after J.P. Morgan Securities hiked its rating to "neutral" from "underweight," and lifted its price target to $41 from $26 -- falling right in line with JWN's current levels. The analyst cited positive structural changes within the company, adding that any growing pa...Read More
GE is fresh off an annual high this afternoonThe 20 stocks listed in the table below have attracted the highest weekly options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. The stocks highlighted in yellow are new to the list, including General Electric Company (NYSE:GE), which will take a closer look at below, alongside Advance...Read More
There's reason to believe MU can reclaim its annual highs from late 2019Although the shares of Micron Technology, Inc. (NASDAQ:MU) have stumbled out of the gate in the new year, they're still only two weeks removed from a Dec. 23 annual high of $56.11. Investors shouldn't fret much over the MU's slow start to 2020 either, with the chip stock flashing a historically reliable bullish signal. More...Read More
Investors are focused on rising turmoil between the U.S. and Iran The Dow Jones Industrial Average (DJI) is still lower at midday as geopolitical tensions, sparked by the killing of Iranian military commander Qassem Soleimani, remain high. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC), however, are treading near breakeven after paring most of their intraday losses. Elsewhere, February-dated...Read More
CRM options traders could be cheering the price actionSalesforce.com, Inc. (NYSE:CRM) is spiking to new all-time highs today thanks to bullish analyst attention. RBC came in and raised its opinion to "top pick" from "outperform," while boosting its price target to $215 from $200. The brokerage firm wrote that there are a number of ways CRM shares could see "significant" upside in 2020. The stock w...Read More