Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 194,463107,77562,206191,290301,244447,959471,225 Change from Prior Reporting Period -9,165-7,048-21,32723,46325,479-7,029-2,896 Traders 17874875253270179 Small Speculators LongShortOpen Interest 57,16733,901505,126 3,512-621-3,517 non reportable positions...Read More
By: Ira EpsteinThe US Dollar very strong near two-year highs. Metals went into a state of collapse. Precious metals higher - fear will be needed to move the price higher..Read More
Here we go again. The Fed evidently has begun "conditioning" our "expectations" for a new season of quantitative easing. Fed Would Consider Interest-Rate Cuts if Growth Outlook Darkens is the headline atop a news story concerning a NYC panel discussion moderated by the central bank's vice-chairman. This is just what Wall Street and other promiscuous abusers of credit have been praying for l...Read More
If gold has not risen to $1350 in the next two weeks, then when will it rise? Apart from a strong US everything is bullish. (a) Trade war is between USA-China, USA-Eurozone. (b) Friendly Mexico will be imposed twenty five percent tariff until it stops illegal migrants from entering USA. (c) Every corporate is now cautious dealing with American companies and has starting taking measures to redu...Read More
President Donald Trump said he would impose a 5% tariff on imports from Mexico The Dow ended more than 350 points lower, after President Donald Trump's surprise tariff threats against Mexico. In a series of tweets, the president said he would impose 5% tariffs on Mexican imports starting June 10, and will increase those tariffs until Mexico stops illegal immigration. Auto stocks, especially Genera...Read More
UBER is trading in positive territory after losing a billion dollars U.S. markets are taking a massive blow this afternoon, as President Donald Trump continues to ramp up global trade tensions. A pair of stocks also in focus today are ride-hailing service Uber Technologies Inc (NYSE:UBER) and drug name Genocea Biosciences Inc (NASDAQ:GNCA). Below, we will dive into what is moving the shares of UBE...Read More
GDX, GLD, and NEM are all seeing heavy options trading todayAnother sharp sell-off in the U.S. stock market is boosting gold prices as traders seek safe-haven assets. This has sparked heavy options trading among several gold exchange-trade funds (ETFs) and mining stocks, including the VanEck Vectors Gold Miners ETF (GDX), the SPDR Gold Trust (GLD), and Newmont Goldcorp Corp (NYSE:NEM). Here's a cl...Read More
Gold futures rallied on Friday, posting their highest finish in over seven weeks, as investors fled to the perceived safety of havens like precious metals amid fresh signs of escalation in tariff tensions between the U.S. and its global trade partners. "Washington's threat of tariffs on Mexico exacerbated fears of a global trade war and recession, which saw a 'flight to quality' and gains for safe...Read More
Gold futures rallied on Friday, posting their highest finish in over seven weeks, as investors fled to the perceived safety of havens like precious metals amid fresh signs of escalation in tariff tensions between the U.S. and its global trade partners. "Washington's threat of tariffs on Mexico exacerbated fears of a global trade war and recession, which saw a 'flight to quality' and gains for safe...Read More
How you can transform lagging indicators into leading indicators.No one ever said trading was going to be easy.Sometimes, do-it-yourself investing can feel about as scientific as throwing darts... and many traders give up, unable to figure out how they can break through the endless cycles of mediocre - or even straight up abysmal! - results.And when even the supposed "market gurus" or "experts" do...Read More
Major indexes are set for their worst month of 2019The holiday-shortened and final week of May had no shortage of headlines, with another round of trade-induced fear taking investors by storm. Specifically, the Dow plunged to start the week, after President Donald Trump claimed the U.S. was "not ready" to make a trade deal with China. The U.S. 10-year Treasury yield suffered in response, exploring...Read More
Agnico Eagle Mines (TSX: AEM; NYSE: AEM) reported Friday Meliadine mine-its largest gold deposit in terms of resources - has achieved commercial production ahead of schedule and below the initial capital budget.With the gold price reaching a seven-week high, Agnico's shares were up 4.5% to C$59.20 in mid-morning trading on the TSX.Total project construction costs after crediting pre-commercial gol...Read More
Cienna stock just pulled back to a historically bullish signal on the chartsThe networking technology concern Ciena Corporation (NYSE:CIEN) has been trading lower on the charts since hitting its two-month peak of $40.76 in late April. Since stringing together seven consecutive losses, before bottoming out at a four-month low of $33.58 on May 15, CIEN has been consolidating between the $34 and $35....Read More
Auto stocks are getting smokedStocks are selling off today, with the Dow Jones Industrial Average (DJI) down 217 points and set for its first close below the 25,000 mark since January. The risk-off approach comes after President Donald Trump announced Mexico as his latest tariff victim, putting intense pressure on auto stocks in particular. The energy and tech sectors are also seeing notable losse...Read More
The silver miners' stocks have been pummeled in recent months, plunging near major secular lows in late May. Sentiment in this tiny sector is miserable, reflecting silver prices continuing to languish relative to gold. This has forced traditional silver miners to increasingly diversify into gold, which has far-superior economics. The major silver miners' ongoing shift from silver is apparent...Read More
Plus, options are attractively priced at the momentAlthough down today, Enphase Energy Inc (NASDAQ:ENPH) is only two days removed from four-and-a-half year high of $16.29. As the energy stock heads toward its fifth straight monthly win, there's reason to believe the good times are far from over, if this historical indicator is to be trusted.Specifically, the stock's Schaeffer's Volatility Index (...Read More
Canada's Pure Gold Mining (TSX-V: PGM), which recently listed in London, has started its 2019 exploration program at its 100%-owned Madsen Red Lake gold mine in Ontario.The Vancouver-based miner said it would focus on the Wedge, Fork, and Russet South satellite deposits with the purpose of converting and growing mineral resources used in the recently released preliminary economic assessment (PEA...Read More
Fidelity International, one of the largest shareholders in Acacia Mining, said on Friday Barrick Gold's low bid to buy the Acacia shares it does not already own showed a lack of judgment and it was a "no brainer" to reject it.The comments in an interview are the first public response from one of Acacia's top shareholders since Barrick's offer earlier this month to buy them out for $787 million.Bar...Read More
The chip stock is pacing for its worst month since the October sell-offIt's been a rough month for the stock market, with chip stocks hit particularly hard amid the escalating U.S.-China trade war. NVIDIA Corporation (NASDAQ:NVDA) stock is no exception, on pace to end its fourth straight week in the red, and set for its steepest monthly slide since the October sell-off. What's more, NVDA's technic...Read More
Tariff concerns have overshadowed Amazon's interest in Boost MobileE-tail powerhouse Amazon.com, Inc. (NASDAQ:AMZN) is back in headlines this week, today seeing a steep pullback alongside its fellow FAANG stocks in response to the latest tariff threat from President Donald Trump. At last check, AMZN is trading 1.6% lower at $1,787.44. Also making headlines for Amazon is its reported interest in b...Read More