The brokerage firm said share repurchases likely won't offset downside risksMorgan Stanley downgraded Caterpillar Inc. (NYSE:CAT) to "equal weight" from "overweight," and cut its price target to $145 from $150, citing "increasing downside risks" to several of the company's key segments, including construction, energy and transportation. The brokerage firm also expressed concern over swollen dealer...Read More
The apparel company cut its sales forecast for 2019Canada-based apparel manufacturer Gildan Activewear Inc (NYSE:GIL) is eyeing its biggest one-day dip in over 10 years today, down 33.6% at $23.50, after the firm announced its preliminary third-quarter results, projecting a weaker-than-expected full-year sales outlook, and a drop for its third-quarter. The forecast has knocked Gildan to the bottom...Read More
Earnings from American Express and Coca-Cola are in focusDow Jones Industrial Average (DJI) futures are trading modestly above fair value this morning, as Wall Street considers the latest batch of corporate earnings. This morning it's blue chips American Express (AXP) and Coca-Cola (KO) grabbing the attention, with both stocks rising in pre-market trading thanks to upbeat quarterly results. Holdin...Read More
* Lead hits 15-month peak, zinc strongest since end-July * GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, Oct 18 (Reuters) - Copper prices rose on Fridayafter positive Chinese data on property and infrastructuregrowth, while zinc and lead hit multi-month highs as investorsworried about shortages.Industrial metals prices were volatile after China'seconomic growth slo...Read More
Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) announces Q3 2019 gold production of 138,100 ounces, surpassing the prior quarterly production record established in Q2 2019 by 21%. During the third quarter, the Company sold 132,500 ounces of gold at an average realized price of $1,475 per ounce. After the first nine months of the year, Torex has sold 322,400 ounces of gold at an a...Read More
Investing.com - Gold prices fell on Thursday in Asia even after weak retail sales data from the U.S. suggested there might be a higher chance of interest rate cuts from the Federal Reserve.Gold Futures for delivery on the Comex exchange were down 0.2% to $1,491.05 by 1:15 AM ET (05:15 GMT).Data showed retail sales in the U.S. fell by 0.3% in September, their biggest drop since last November.Accord...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 319,37066,34357,254167,700455,975544,324579,572 Change from Prior Reporting Period -15,0137,5233,953-55-22,722-11,115-11,246 Traders 19782875451278195 Small Speculators LongShortOpen Interest 63,06327,815607,387 1,5451,676-9,570 non report...Read More
Metals investors are positioning themselves for rapidly developing political and geopolitical events, as well as a rapidly expanding Federal Reserve balance sheet. What started out as a limited intervention to provide temporary liquidity to overnight lending markets has morphed into a massive $60-billion-per-month Treasury-buying campaign. By some measures, it's even bigger than the last Quant...Read More
Dave KranzlerLast week the Fed announced that it was going to start buying $60 billion in T-Bills per month at least into Q2 2020. The Fed will also rollover the proceeds as the T-Bill's mature. The rationale was to address the decline in the "non-reserve" liabilities of the Fed. So what are "non-reserve" liabilities? Federal Reserve Notes.The directive as written was "Fed Speak" which mea...Read More
By: Ira EpsteinGold trend turns up if it gets above $1,503. 18 day moving average also at $1,503 area, important resistance area to get above for the gold markets to turn into a more bullish bias:Read More
By: Rick Ackerman, Rick's PicksI like gold here, but I'd like it even more a somewhat lower levels. How much lower? Here are two charts to judge, including one in GLD for those of you who don't trade futures.www.RickAckerman.comRead More
Eric Sprott discusses the ongoing bank liquidity crisis and the Fed's renewed QE program. He also answers listener questions regarding the ETFs and the mining shares.Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2...Read More
Harry Dent wraps up this week with an economic forecast showing how history is set to repeat itself in the form of an impeachment. Expect to see one last cresting wave before the market's downturn, he says. Why down & not up? Two words: Bitcoin and politics. Harry Dent is a Fortune 100 consultant, new venture investor, noted speaker, bestselling author, and the founder and senior editor at Dent Re...Read More
With gold prices having climbed higher this year, investors have flocked to senior producers instead of the juniors, favoring steady cash flow over speculation and this trend may shape miners' priorities going forward, this according to Joe Mazumdar, co-editor, Exploration Insights."I think the majors have changed mindsight thinking that it's not about production profile, it's about generating fre...Read More
John Newell of Fieldhouse Capital Management explores the investment opportunities presented by this project generator in a district rich with historic mine strikes. If the adage in the mining business is "that the best place to find a mine is next to an old mine," then by extension, the best place to explore for gold is next to a successful exploration play, and GoldON Resources Ltd. (GLD:TSX.V)...Read More
The production numbers are reviewed in a BMO Capital Markets report. In an Oct. 15 research note, BMO Capital Markets analyst Andrew Mikitchook reported that Wesdome Gold Mines Ltd.'s (WDO:TSX) Q3/19 production was a beat and management raised full-year production guidance. "Eagle continues to outperform, delivering strong cash flows," the analyst added, referring to the company's Ontario mine. D...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 319,37066,34357,254167,700455,975544,324579,572 Change from Prior Reporting Period -15,0137,5233,953-55-22,722-11,115-11,246 Traders 19782875451278195 Small Speculators LongShortOpen Interest 63,06327,815607,387 1,5451,676-9,570 non report...Read More
The gold miners are likely to report blowout profits in this spinning-up Q3'19 earnings season. Higher production, stable costs, and much-higher gold prices should combine for some super-impressive results. That's going to leave the still-undervalued gold miners much more attractive fundamentally, supporting bigger capital inflows and much-higher stock prices. Q3 should prove the gold mi...Read More
Metals investors are positioning themselves for rapidly developing political and geopolitical events, as well as a rapidly expanding Federal Reserve balance sheet. What started out as a limited intervention to provide temporary liquidity to overnight lending markets has morphed into a massive $60-billion-per-month Treasury-buying campaign. By some measures, it's even bigger than the last Quant...Read More
Dave KranzlerLast week the Fed announced that it was going to start buying $60 billion in T-Bills per month at least into Q2 2020. The Fed will also rollover the proceeds as the T-Bill's mature. The rationale was to address the decline in the "non-reserve" liabilities of the Fed. So what are "non-reserve" liabilities? Federal Reserve Notes.The directive as written was "Fed Speak" which mea...Read More