"Who would be free themselves must strike the blow..."By their right arms the conquest must be wrought."So wrote Lord Byron of Greece's war of independence against the Turks, though the famed British poet would ignore his own counsel and die just days after arriving in Greece to join the struggle.Yet Byron's advice is the wise course for the United States, and for the people of Venezuela who see...Read More
Sometimes we're blessed not to possess insider information. Several pointed examples surfaced in the last few days. If we had known, for instance, that Fed Chairman Powell would tell the world on Wednesday that the U.S. economy is holding steady as a rock and that no changes are contemplated in monetary policy, we'd have jumped on call options a day earlier. Lo, the Dow began a 500-point plunge...Read More
The annual contribution limit to all of your traditional and Roth IRAs for 2019 is $6,000, or $7,000 if you're age 50 or older. Your traditional IRA contributions may be tax-deductible. The concept being that you deduct contributions during your high-tax-rate years, let them grow tax-deferred, and withdraw them when your tax rate is lower.However, the deduction may be limited if you or your spouse...Read More
May 06, 2019 Guest(s): Chris Mancini Mining Analyst, Gabelli Funds A good analogy to describe the gold price cycle is to use a coffin, said Chris Mancini, analyst at Gabelli Gold Funds."I think that in terms of the sentiment within the gold market and the gold mining market is that we've had a few near death experiences, in terms of being put in the grave. So when gold went down to $1,050, for t...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
During the middle of his speaking tour in Australia, Economist Harry Dent takes a brief break to share some details about his trip and some of the biggest economic issues facing Australia.Harry Dent is a Fortune 100 consultant, new venture investor, noted speaker, bestselling author, and the founder and senior editor at Dent Research, where he dedicates himself to identifying and studying demograp...Read More
We have spent the past two days contemplating the nature of money... and the international monetary system.We hypothesized that there is no actual money in monetary policy. And that central banks are helpless giants, tissue paper tigers, all mush and milk.We even vented the extravagant theory that a "shadow banking system" governs the global monetary system.Today we sink deeper into the shadows...Read More
LONDON, 3 May 2019 - Leading India finance channel CNBC-TV18 today interviewed BullionVault head of research Adrian Ash about the latest action in gold.With gold trading across Asia at strong premiums to London prices, Adrian says he's expects world prices to strengthen on the back of lower inflation readings, because they'll signal lower interest rates from central banks.You can watch the 4-minut...Read More
In 2018, global gold mining companies' average all-in sustaining costs (AISC) fell 6% across the board as miners reacted to a gold price in steady decline for most of the year.The AISC metric serve as a benchmark of a mine's operating efficiency. They provide a more comprehensive look at mine economics than the traditional "cash costs" approach that many companies may interpret arbitrarily - and i...Read More
By: Ira EpsteinGold held up relatively well after the FOMC decision. $1,289.40 resistance:Read More
Interest rates outlook was expected to be kept unchanged by the Federal Reserve. Fed also lowered interest rates paid on reserves. Chairman Powell's statement that that inflation risk appears to have been moderated resulted in fall in gold prices. What next for gold: Wider trading range is at $1249.60-$1263.20-$1280-$1297.10. Overall trend is down as long as gold trades below $1291. Gold needs t...Read More
Investors continue to fret over Fed Chair Jerome Powell's comments The Dow fell for the second day in a row, dropping over 120 points, as investors continue to stew over Fed Chair Jerome Powell's comments on Wednesday. Elsewhere, House Speaker Nancy Pelosi accused Attorney General William Barr of misleading Congress over special counsel Robert Mueller's report, calling his action a "crime." Agains...Read More
Junior miners, struggling to fund exploration as institutions seek lower risk and better returns from larger rivals and newer industries, sought to sell potential investors on projects on Thursday, with mixed success.The proliferation of index funds, sluggish gold price growth and a shift into cannabis and cryptocurrencies by risk investors has left junior miners short of funding.While the mining...Read More
TMAC Resources has recorded its first positive earnings for Q1 2019. The quarterly revenue was C$67.9 million (compared to C$33.0 million in the same quarter a year earlier). That translated into a comprehensive profit of C$7.2 million for the recent quarter (compared to a Q1 2018 loss of C$15.0 million) after taxes, foreign exchange, corporate costs and cost of sales.TMAC produced 40,050 oz. of g...Read More
Toronto-based Kirkland Lake Gold can't seem to miss drilling high grades at its Macassa gold project in the town of Kirkland Lake. Recent excellent results highlight the potential for growing resources and new discoveries, says the company.Drilling east of the South Mine Complex (SMC) has returned 118.8 g/t gold over 2.0-metres core length, 62.7 g/t over 1.9-metre true width, and 73.8 g/t over 2.7...Read More
Also, United States Steel is trading at new lows before earningsThe Dow is down today as stocks slip following Wednesday's Fed decision to hold rates steady. Three names making big moves on the charts today are hospice services provider Amedisys Inc (NASDAQ:AMED), Pittsburgh-based United States Steel Corporation (NYSE:X), and item identifying expert Digimarc (NASDAQ:DMRC). While the shares of the...Read More
After a short rally in the first quarter peaking in March, the gold price fell during the year, then rebounded in December. In 2018, the global average all-in sustaining costs (AISC) fell 6%, as companies reacted quickly when the gold price was on decline, and gold miners found ways to keep costs down.The AISC metric serve as a benchmark of a mine's operating efficiency. They provide a more comp...Read More
BYND, TMDX, and SY are making their public trading debuts todayThe broader stock market is taking a hit this afternoon, but not all of the day's action is to the downside. Among some of the hottest stocks today are vegan burger specialist Beyond Meat Inc (NASDAQ:BYND), medical device maker TransMedics Group, Inc. (NASDAQ:TMDX), and online medical marketplace So-Young International Inc. (NASDAQ:SY)...Read More
Investor sentiment should be bearish at a major bottom.Instead, anecdotal evidence suggests investors are bullish on gold.Gold stock weakness also warns that gold hasn't bottomed yet.In most cases when an asset such as gold experiences a corrective decline over a period of several weeks, investor sentiment tends to become bleak as the decline nears its nadir. This is in keeping with the tenden...Read More
Gold futures on Thursday logged their lowest settlement year to date, a day after Federal Reserve Chairman Jerome Powell cast doubt about the prospect for a near-term rate reduction. "Apparently a number of markets were expecting to see signs that the Fed was leaning toward cutting interest rates, and those hopes were dashed by the upbeat economic assessment from the Fed Chairman press conference"...Read More