There's nothing new about the Russian accumulation of gold bullion in their reserve position. It began in a material way in 2009 when Russia had about 600 metric tonnes of gold.Today, Russia has 2,183 metric tonnes, a stunning 264% increase in less than 10 years. Russia is the sixth-largest gold power in the world after the U.S., Germany, IMF, Italy and France.Russia's gold hoard is over 25% of th...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 240,47784,36256,898132,517305,093429,892446,353 Change from Prior Reporting Period 46,014-23,413-5,308-58,7733,849-18,067-24,872 Traders 19872675054278168 Small Speculators LongShortOpen Interest 51,60335,142481,495 -5,5641,241-23,631 non reportable posit...Read More
- Dave Kranzler"Shanghai Gold will change the current gold market with its 'consumed in the East but priced in the West' arrangement. When China has the right to speak in the international gold market, the true price of gold will be revealed." - Xu Luode, Chairman, Shanghai Gold Exchange, 15 May 2014The quote above is for the benefit of anyone who refuses to acknowledge or accpet that the price...Read More
Gold surged sharply over this past week or so, nearing a major bull-market breakout! Nearly everyone was surprised by this violent awakening, which erupted suddenly as gold languished around year-to-date lows. If this dramatic rally has staying power, gold has good odds of achieving decisive new bull-market highs. That would change everything psychologically, ushering gold and its miners...Read More
By: Ira EpsteinFriday in Gold is notorious for giving back gains. Gold in bullish mode:Read More
- Jordan Roy-Byrne CMT, MFTAIn recent days the market has moved from expecting a rate cut by January 2020 to now expecting as much as three rate cuts by then. As a result both Gold and gold stocks launched higher, forming a "three white soldiers" bullish reversal pattern. Last week and in previous writings, we noted the importance of the actual rate cut for Gold and gold stocks. Their perform...Read More
By Avi GilburtIn my last article, I outlined how the same news event can "cause" the market to rally 9% at one time, and drop 5% another time. And, then I noted how I am quite certain there will be some of you that will try to explain away this clear lack of consistency with some form of convoluted "logic."And, true to form, some of you did. One such commenter noted:For about eight months, the m...Read More
Trump needn't have wheedled the Fed about juicing the money supply, since the banksters, ever eager to ride to the rescue -- of themselves -- would have done it anyway. The alchemists at the central bank have once again begun to "manage" our "expectations" with all the subtlety of a carnival barker about to spin a Big Six wheel. Their loyal spinmeisters at The Wall Street Journal gave this lat...Read More
- Hubert MoolmanPreviously, I have shown how we could be close to major financial/monetary crisis. The following chart that shows the ratio of gold to the monetary base was used:The chart shows the ratio of the gold price to the St. Louis Adjusted Monetary Base back to 1918. That is the gold price in US dollars divided by the St. Louis Adjusted Monetary Base in billions of US dollars. (from...Read More
This was the Dow's fourth straight triple-digit gain and longest win streak since JanuaryThe Dow scored a 264-point win today to close out a perfect week, with its five-day winning streak marking the longest January. This was the blue-chip index's fourth-straight triple-digit gain, as weak jobs data fueled speculation that a Fed rate cut is imminent. Meanwhile, President Donald Trump earlier twee...Read More
US stock markets just enjoyed their best week of the year on speculation that the Federal Reserve would once again ride to the rescue of equities and inflate asset prices by cutting rates.The S&P 500 index is sporting double digit percentage gains so far this year. Meanwhile, the S&P GSCI All Commodities index is down 14% over the past year.Apart from all things gold, Incrementum's 13th annual In...Read More
Goldspot Discoveries (TSXV: SPOT) announced Friday a signed service agreement with Pacton Gold (CVE: PAC) to use Goldspot's A.I. and machine learning tools to evaluate and identify possible mineral and drill targets on Pacton's Red Lake, Ontario property. "We believe Red Lake's ground is ripe for a technological revolution" - Goldspot CEOGoldspot has been granted a 0.5% smelter roy...Read More
Stock market bulls can thank Fed Chair Jerome PowellFollowing a brutal May, stocks kicked off June on a high note, with the major market indexes set for their best week of the year. What's more, the Dow is set for a five-day winning streak, which would mark its longest since January. Stock market bulls have Fed Chair Jerome Powell to thank, after the central bank chief said the Fed will "act as ap...Read More
2 big winners in today's tradingStocks are holding positive territory as they eye their best week of the year. Two names to watch today are online retailer Revolve Group (NYSE:RVLV) and weed producer Aphria Inc (NYSE:APHA). Below is a quick look at how the shares of RVLV and APHA are trading today. Revolve Shares Soar in IPO SessionOnline apparel retailer Revolve Group is watching as its stock jum...Read More
After 5 months of correction, Gold found strength again and hit more than three-month high on Tuesday. The move higher comes on the expectation that the U.S. Federal Reserve would cut interest rate to offset the U.S – China trade war. Recent commentary by the Fed governors and Chair hinted the willingness to do a rate cut. Yesterday we have James Bullard talking about a rate cut. Today, the...Read More
Donald Trump's tariffs targeting Mexico risks backfiring on the U.S., at least in the global metals market.Miners of Mexican precious metals are unlikely to be hit significantly if Trump imposes levies on goods from its neighbor, which is the biggest source of U.S. silver imports and its second-largest gold supplier. Instead, American processors will probably bear the brunt of the latest trade spa...Read More
GLD options are seeing heavy trading todayGold prices have been red-hot amid recent trade tensions, and today, August-dated gold futures locked up their eighth straight daily win as a weak jobs report weighed on the U.S. dollar. Below, we'll take a look at what this hot streak has done for gold exchange-trade fund (ETF) SPDR Gold Trust (GLD).At last check, GLD was up 0.8% to trade at $126.77, and...Read More
Gold futures on Friday stretched their streak of gains to an eighth straight session as a report that showed much weaker-than-expected U.S. jobs growth in May contributed to declines in the dollar and Treasury yields. August gold on Comex GCQ19, -0.74% tacked on $3.40, or 0.3%, to settle at $1,346.10 an ounce, notching an eighth week of gains in a row, the longest streak of weekly increases since...Read More
Gold has moved higher for the year, after stalling just below the $1,300-an-ounce mark for weeks. All the factors for the metal to rally to record levels might finally be falling into place. "Gold does well in a period of dollar weakness, inflation and economic uncertainty," says Peter Schiff, chief global strategist for Euro Pacific Capital, a division of Alliance Global Partners. "We are about t...Read More
Weekly 6/7 and standard September call options are hot todayGrubHub Inc (NYSE:GRUB) stock is trading up 3.3% at $65.22, on reports investment research firm Hedgeye thinks the food delivery name could be bought out by Amazon (AMZN). In addition, the analyst allegedly sees 60% to 100% upside for GrubHub shares. GRUB options traders are getting in on the action, too, placing bullish bets at an aggres...Read More