By: Ira EpsteinGold trading into a market downtrend, oversold but $1,280 level in play...Read More
Gold and silver are still not out of the bear shadow. If they fall today, then they will crash. India is closed tomorrow. In India this is the biggest holiday week of the year. If Indian gold prices fall, then jewelers will have the best sale of the current year. A hopefully good jewelry sale will result higher Indian gold demand next week. Day traders need to remain on the sidelines today. Tr...Read More
A bearish reversal from UNH kept a lid on the Dow's gains, thoughStocks finished the day higher, with the Dow seeing a late push from a Reuters report that said the Federal Aviation Administration's review board deemed Boeing's (BA) software fix for its 737 Max aircraft to be "operationally suitable" -- news that sent BA stock up 1.7%. A bearish reversal for UnitedHealth Group (UNH) kept a lid on...Read More
Former U.S. interior secretary Ryan Zinke has joined the board of a tiny gold mining company with projects in Nevada and Wyoming.U.S. Gold Corp., based in Elko, Nevada, has a market capitalization of about $20 million. Zinke is one of six board members for the company, according to its website.Zinke left his post in January amid several federal investigations into his travel, political activity an...Read More
Aztec Minerals (TSXV: AZT) recently flew a magnetic and radiometric survey over its Cervantes copper-gold project in Sonora, Mexico, that identified 11 porphyry targets. Follow up work by the company will initially target four main targets: California, Estrella, California North and Purisima East.The survey supports the company's belief that the project contains multiple porphyry cells along a nor...Read More
The writing is on the wall for Canadian mining companies and it has been for quite some time. Their glory days as a global leaders are fading - and mega-mergers won't bring salvation.Market signals are already showing troubling signs of this shift in the sector. While Canada's GDP saw a 0.3% lift in January, which was the biggest gain in eight months, this dramatic uptick didn't spill over into ev...Read More
The FDA ordered BSX to remove its transvaginal surgical mesh implants from the U.S. marketMedical device maker Boston Scientific Corporation (NYSE:BSX) is in hot water today, after the U.S. Food and Drug Administration (FDA) ordered the company to halt the sale and distribution of its transvaginal surgical mesh implants, questioning the safety of the product. The FDA is giving Boston Scientific 10...Read More
VFF put options are all the rage todayMany weed stocks are higher today, after sector leader Canopy Growth's (CGC) CEO reportedly projected revenue of $744 million this year. However, one cannabis name sitting out today's uptrend is Village Farms International Inc (NASDAQ:VFF), down 14.4% to trade at $10.84, after a scathing report from notorious short seller Citron Research, which called on the S...Read More
SKX is moving further beyond the 320-day trendlineShoemaker Skechers USA Inc (NYSE:SKX) is slated to report first-quarter earnings before the market opens, Thursday, April 18. The security has been moving higher in recent weeks, and was last seen back above the $34 mark. Another notable trendline the shares have utilized is the 320-day moving average, which has been support since mid-February. At...Read More
Gold futures declined on Tuesday, with the precious metal suffering its lowest finish year to date, as equity benchmarks in the U.S. flirted with records and government bond yields advanced, reflecting growing appetite for assets perceived as risky over so-called havens. The yellow metal may have also suffered from additional pressure as Bloomberg reported that Venezuela recently sold $400 millio...Read More
Gold futures declined on Tuesday, with the precious metal suffering its lowest finish year to date, as equity benchmarks in the U.S. flirted with records and government bond yields advanced, reflecting growing appetite for assets perceived as risky over so-called havens. The yellow metal may have also suffered from additional pressure as Bloomberg reported that Venezuela recently sold $400 millio...Read More
USD remains on the bid despite the slip in Industrial production data, while US Equities are off highs but remain in demand. Sterling and Gold are the day's biggest losers. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase o...Read More
A Wired report gave details surrounding the highly anticipated gaming consoleThe U.S. stock market is higher today, thanks to a dovish Fed and well-received Johnson & Johnson (JNJ) earnings. Among other stocks making notable moves are chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD), "Battlefield V" creator Electronic Arts Inc. (NASDAQ:EA), and streaming name Roku Inc (NASDAQ:ROKU). Here's a qu...Read More
We recently called out the support of the 80-day, but new data has emergedCaterpillar Inc. (NYSE:CAT) has enjoyed a series of higher highs and lows since its October bottom near $112, riding technical support atop the 80-day moving average to trade at $141.70. However, new data suggests CAT stock could due for some short-term turbulence, especially with earnings set to hit next Wednesday, April 24...Read More
Kinross Gold Corporation (TSX: K) (NYSE: KGC) announced several changes to its senior leadership structure on Tuesday, including the appointment of Paul Tomory as EVP and CTO.Lauren Roberts, SVP and COO, and Gina Jardine, SVP, Human Resources, will be leaving the company by mutual agreement. As well, the SVPs of the company's three operating regions - the Americas, Russia and West Africa - will...Read More
The next financial bubble burst could be so massive, it even takes out gold. One economist is making a very bold prediction.This man says that the colossal financial bubble that exists in today's economy is stretching closer and closer to its breaking point.And when it does pop -- soon, very soon -- it's not only going to take out the entire stock market... it'll absolutely crush other assets too....Read More
New Gold Inc. (TSE: NGD) has received federal environmental approval for its 100% owned C$1.8B Blackwater gold project proposal in British Columbia, Canada.The Minister of Environment and Climate Change announced that the proposed project can proceed following an environmental assessment process that concluded the project is not likely to cause significant adverse environmental effects when miti...Read More
New Gold Inc. (TSE: NGD) has received federal environmental approval for its 100% owned C$1.8B Blackwater gold project proposal in British Columbia, Canada.The Minister of Environment and Climate Change announced that the proposed project can proceed following an environmental assessment process that concluded the project is not likely to cause significant adverse environmental effects when miti...Read More
The price of gold came under pressure on Tuesday ahead of a long weekend for North American markets, dropping to its lowest level yet in 2019. Gold for delivery in June fell to $1,275.50 per ounce in heavy volume of nearly 30m ounces traded as investors rotate money out of gold and into US stock markets, which are slowly creeping back into record territory.Also weighing on sentiment is a new repor...Read More
However, the DJI is off its session highsThe Dow Jones Industrial Average (DJI) is off its intraday highs, but remains comfortably above breakeven, with help from blowout earnings from Johnson & Johnson (JNJ). However, while UnitedHealth Group (UNH) stock initially moved higher after earnings, it's now the worst blue chip at midday, as health insurers sink on concerns about proposed changes to th...Read More