Short sellers in gold and silver need to trade very carefully as long as they do not fall below $1260 and $1419. There can be very sharp pullback rallies as long as gold trades over $1260 and silver trades over $1419. Crude oil will break free from $60-$65 consolidation phase and form a new range. Copper and industrial metals can trade with a softer bias. Momentum for gold and silver is down....Read More
Source: Clive Maund for Streetwise Reports 05/20/2019Technical analyst Clive Maund charts gold and explains why he believes gold will turn higher later in the summer.Gold and silver dropping back again late last week had investors in the precious metals sector feeling despondent, especially as their fears were magnified by at least one analyst calling for gold to drop to the low $900s or even...Read More
Source: Clive Maund for Streetwise Reports 05/20/2019Technical analyst Clive Maund charts silver and finds that it looks "considerably weaker than gold."Silver looks considerably weaker than gold, although that is normal at this stage in the cycle. It is still considered likely that it is forming a Double Bottom with its lows of late 2015, and if so then the support at those lows should hold....Read More
Crude oil hasn't closed higher yesterday and the previous series of rallies appears to face stiff headwinds. Is this it, or can the oil bulls pull a rabbit out of their hats? After all, they've reversed Monday's downswing already. Or does the prospect of wide spectrum U.S. - China uncertainties have the upper hand? It's making itself heard across the board and crude oil is no exception. Let's asse...Read More
Renewed trade fears had the Dow suffering, tooThe Dow took a hit today by big losses from Home Depot (HD) and Apple (AAPL). Renewed trade worries and a suffering retail sector sparked selling on the S&P, as well, while the tech-heavy Nasdaq was dragged lower by Apple supplier Qualcomm (QCOM). The release of the Federal Open Market Committee's (FOMC) May meeting minutes failed to ignite excitement...Read More
Contact Gold Corp. (TSX-V: C) has completed its previously announced public offering, raising C$4 million. Shares of the company jumped by more than 13% on Wednesday morning. Its market capitalization now stands at about C$12.7 million.The funds will be used to conduct further drilling at Contact Gold's flagship Pony Creek project in Elko County, Nevada, as well as to explore other properties, the...Read More
The Government of Canada's Qu?(C)bec province announced on Wednesday that it will invest C$1.75 million (about $1.27m) to connect Newmont Goldcorp's Eleonore mine facilities to the existing regional fibre optic network. The project will enable Newmont Goldcorp to continue advancing its vision to create mine 4.0- an interconnected mine of the future. The connection, which will help optimi...Read More
All three retailers are seeing analyst attention after earningsMarkets are moving lower this afternoon, with retail stocks at the forefront of headlines. Three big names in the sector to watch today are TJX Companies Inc (NYSE:TJX), Nordstrom, Inc. (NYSE:JWN), and J C Penney Company Inc (NYSE:JCP). Below, we will dive into what is moving the shares of TJX, JWN, and JCP.TJX Stock Sees Fresh Wave...Read More
Gold futures settled higher on Wednesday, a day after posting a nearly three-week low, with the metal finding modest support from weakness in U.S. stocks. Futures prices held onto those gains in electronic trade, shortly after the release of the minutes from the rate-setting Federal Open Market Committee's April 30 - May 1 meeting showed that voting members seemed comfortable with their patient s...Read More
Gold futures settled higher on Wednesday, a day after posting a nearly three-week low, with the metal finding modest support from weakness in U.S. stocks. Futures prices held onto those gains in electronic trade, shortly after the release of the minutes from the rate-setting Federal Open Market Committee's April 30 - May 1 meeting showed that voting members seemed comfortable with their patient s...Read More
CMG stock hit a three-year peak in Monday's tradingChipotle Mexican Grill, Inc. (NYSE:CMG) staged an impressive rally off its late-December lows near $383, rallying all the way up above $721 by April 9. CMG's short-lived pullback from here found support at its 50-day moving average, and a more recent bounce from the rising trendline sent the shares to a three-year peak of $727 on May 20. The burri...Read More
The Fed is holding the line on rates, which is keeping the dollar strong.This in turn is putting downward pressure on gold and silver prices.New highs in dollar index mean investors should favor cash for now.There are many factors that can be blamed for slumping precious metals prices in recent months. Yet one of the biggest factors has been none other than the Federal Reserve. The steadfastness o...Read More
The bullish signal flashing for GLUU stock has never been wrongThe gaming concern Glu Mobile (NASDAQ:GLUU) has seen a dramatic climb this year, before plateauing right beneath itshigh of $11.75 on April 5. The stock managed a brief bounce off a familiar floor at the 40-day moving average, but wound up gapping beneath the trendline, following a first-quarter earnings flop. There might still be hope...Read More
The shares have muscled above their YTD breakeven markUnitedHealth Group Inc (NYSE:UNH) shares hit a year-to-date low near $208 on April 17, as concerns over potential policy changes sent the broader healthcare sector spiraling. The Dow stock has since recovered, last seen trading at $249.84 -- just a hair above its Dec. 31 close at $249.12.Another close above here would mark the equity's second s...Read More
Both equities sport attractively priced optionsIt's high time we check in on two commodity stocks that have struggled mightily the last 12 months. In fact, aluminum concern Alcoa Corp (NYSE:AA) and energy name Carrizo Oil & Gas Inc (NASDAQ:CRZO) have landedon Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks with a -50% year-over-year return.At last check, Alcoa stock was down...Read More
Twitter call options are popular todayThe Dow Jones Industrial Average (DJI) is lower today, as negative trade headlines and a retail sector sell-off weigh. On the trade front, Wall Street is reacting to reports that the U.S. could place Huawei-like restrictions on a handful of Chinese video surveillance firms, including Hikvision. Meanwhile, there willbe the afternoon release of the Fed's minutes...Read More
Gold miners must focus on maximising returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday."The industry is in decline and we have put ourselves in a very a tight spot because we haven't invested in exploration and our future," said Mark Bristow, who took the helm in January at Barrick after its...Read More
Zimbabwe's mining sector was subdued in the first quarter due to a severe dollar crunch that affected production, with gold the most hit, the mining chamber said, adding some bullion miners had experienced recently introduced power cuts.Mining generates most of the export earnings for the southern African nation, which faces a severe shortage of dollars that has led to a scarcity of fuel and medic...Read More
Puts are trading at more than 41 times the expected intraday ratePure Storage Inc (NYSE:PSTG) stock is down 21% at $16.28 -- sinking back toward its late-December lows, and pacing toward its worst day ever. Last night, the data storage name reported a wider-than-anticipated adjusted first-quarter loss of 11 cents per share on $326.7 million in revenue, less than analysts were expecting. PSTG also...Read More
Bloomberg Is gold about to go full bull? Let's check some charts to see. Before we do, here are some basic price facts: Gold GC00, +0.05% peaked in 2011 at just above $1,900 an ounce. Since then, it's been an exercise in dread for gold bugs. (Disclosure: I have no positions in gold.) Gold bottomed in early 2016 and now it's back in the same price range as it's been since 2013. So, basically, the...Read More