A "full assay, inventory, and audit of all gold reserves, including any gold in 'deep storage,' of the United Continue...Read More
Andrew Park, senior editor at S&P Global's LCD unit, joins Grant's to discuss all things credit.1:35 The current cycle: What's different?5:45 CDOs in 2008 and CLOs today. Similarities and differences12:01 Promised acquisition strategies: Dreams don't always come true15:55 Credit managers need new supply, and borrowers happy to obligeJames "Jim" Grant is an American writer and publisher and the fou...Read More
The roller coaster presidency of Donald Trump is currently riding high as thestock market races back up to new highs, economic data come in better thanexpected, and Congressional Democrats’ endless investigations come up emptyhanded.Trump’s approval rating recently hit 50% at the same time asCNN’s ratings are tanking.Over the weekend, President Trump sent CNNand the rest of the &...Read More
Crude oil has had an eventful session yesterday. It has closed the opening gap and the bulls have been building upon their gains till the session’s close. Earlier today however, the price appears to be rolling over and heading south. Is all hope for higher oil lost? The bulls have shown to be quite tireless. Can they pull a rabbit out of their hats shortly?Let’s take a closer look at t...Read More
LONDON, 8 May 2019 - The UK's Daily Mail online, one of the world's 65 most-visited websites, today quotes BullionVault comment on yesterday's 20th anniversary of then-Chancellor Gordon Brown moving to halve the nation's stock of gold reserves.It was "perhaps the single worst investment of modern times," The Mail Online quotes BullionVault director of research Adrian Ash."Brown's decision came as...Read More
LONDON, 8 May 2019 - BullionVault's Adrian Ash is quoted today by UK newspaper the Daily Express online, commenting on the 20th anniversary of Britain's decision to sell half its gold reserves at the lowest prices since the 1970s.Adrian's comments "echoed that of current Chancellor Philip Hammond," says The Express, "who described Mr Brown's decision to sell off as 'the most potent symbol of the e...Read More
LONDON, 8 May 2019 - Finance newspaper City AM today carries argument from BullionVault that the UK's gold sales of 1999-2002 were a bad mistake.Announced 20 years ago yesterday, "New Labour's gold sales were so aggressive and arrogant that it's hard to imagine Gordon Brown's team seeing any error even now, 20 years and a five-fold rise later," the paper says, quoting Adrian Ash, director of resea...Read More
Shades of Smoot-Hawley!? Stocks plummeted for the second time in less than 24 hours Monday when Trump signaled to China's trade negotiators that he means business. A long-delayed, $200 billion hike in tariffs will take effect on Friday because the Chinese reneged on commitments they'd already made. I don't say they allegedly reneged or that they reportedly reneged, since no one ever believed for...Read More
Trump and his twitter trumpet of reigniting trade war failed to life gold price yesterday. Short covering will be there if gold breaks and trades over $1290-$1292 zone. Silver needs to trade over $1500 to rise further. Copper and crude oil may have formed a short term bottom yesterday. "Akshay Tritiya" demand if it comes in below expectations in India can result in small correction in gold pri...Read More
The sell-off was sparked by fears of an escalating trade war between the U.S. and ChinaThe Dow dove deep into the red today, ending with a loss of more than 470 points, as traders brace for increased tariffs on $200 billion in Chinese goods. Specifically, should the two countries not reach a trade deal, U.S. Trade Representative Robert Lighthizer said the U.S. will hike tariffs on Friday, May 10,...Read More
According to Q1 results, Kirkland Lake Gold is headed for a profitable 2019. The company said its cash position was up 25% to reach $83.9 million. Operating cash flow grew 95% to $174.4 million, and that resulted in record free cash flow of $93.1 million, an 85% jump from Q1 2018 and up 8% over Q4 2018.During the first quarter of this year, the company's revenue grew 54% to a record $304.9 million...Read More
Kinross Gold (TSX: K, NYSE: KGC) released its first quarter results on Tuesday, and the world's no. 4 gold miner reported strong quarterly performance and said it is on track to meet 2019 annual guidance.Kinross reported first quarter gold equivalent production of 606,031 ounces, which is in line to meet 2019 guidance, targeted at 2.5 million ounces.Production cost per ounce was $682, a win for Ki...Read More
Short sellers are leaving this booming tech stock behindChina fears have sparked a risk-off session, sending the Cboe Volatility Index (VIX) to a multi-month high. Also making notable moves today are medical device concern Medtronic PLC (NYSE:MDT), EpiPen maker Mylan NV (NASDAQ:MYL), and computer manufacturer Cray Inc. (NASDAQ:CRAY). Below, we will dive into what is moving the shares of MDT, MYL...Read More
Jumia Technology went public in mid-AprilWhile Wall Street has been focused on other recent IPOs such as Lyft (LYFT) and Pinterest (PINS), Nigeria's Jumia Technology AG (NYSE:JMIA) also began trading in the U.S. last month. However, initial reviews on JMIA from analysts have mostly been negative, as we'll detail below. RBC was the first to weigh in on the e-commerce stock, setting a tepid "sector...Read More
The shares sounded a trusty bullish alarm ahead of earningsGlu Mobile Inc. (NASDAQ:GLUU) stock is down 18.1% at $9.19 today in reaction to the mobile game maker's quarterly earnings report. In the first quarter, GLUU broke even on a per-share basis -- missing the consensus estimate for a 5 cents per-share profit -- though revenue of $95.9 million beat expectations. The company also raised its full...Read More
Gold futures ended higher on Tuesday, posting their third straight session decline, as U.S. benchmark stock indexes freshly retreated amid apparent challenges for U.S.-China trade talks this week - negotiations that markets had generally believed to be all but signed on the dotted line. "The poor seasonal time for gold is over as we move into May and June and...increasing volatility and risk-off s...Read More
Gold futures ended higher on Tuesday, posting their third straight session decline, as U.S. benchmark stock indexes freshly retreated amid apparent challenges for U.S.-China trade talks this week - negotiations that markets had generally believed to be all but signed on the dotted line. "The poor seasonal time for gold is over as we move into May and June and...increasing volatility and risk-off s...Read More
MMM was oversold heading into today's drop, tooDow stock 3M Co (NYSE:MMM) is lower with the broader market today, likely due to China trade war jitters that have escalated in the last few days. At last check, MMM was down 1.9% to trade at $179.64 -- set for its lowest close since its December bottom of $176.87 -- but options traders have surfaced with a big focus on bullish calls. Specifically,...Read More
Put options are flying off the shelves todayShares of Israeli printer concern Kornit Digital Ltd (NASDAQ:KRNT) are plummeting today, after Spruce Point Management called the stock a "strong sell" and said it has 75% to 85% downside risk. Specifically, the bearish report noted that "printer orders delivered to Amazon in the U.S. have dramatically slowed" in 2019, and Spruce Point believes "Kornit w...Read More
TRUE hasn't closed a day lower in nearly two weeksAuto pricing concern TrueCar Inc (NASDAQ:TRUE) will report first-quarter earnings after the close on Thursday, May 9. Ahead of the event, the shares of TRUE have been in rebound mode, and haven't ended a session lower since April 24 -- nearly two weeks ago. However, the equity is now facing off with a familiar trendline, run-ups to which have acted...Read More