UNH and JNJ stocks are creating tailwinds todayDow Jones Industrial Average (DJI) futures are trading above fair value, thanks to positive earnings reactions for blue chips UnitedHealth (UNH) and Johnson & Johnson (JNJ). Dovish comments from Boston Fed President Eric Rosengren could also be creating tailwinds, with the central banker saying last night, "It's appropriate for interest rates to be pa...Read More
Shares in silver producer Hecla Mining (NYSE:HL) fell on Tuesday after it became public that a judge in the US state of Montana overturned the water permit approval for the company's proposed Rock Creek mine.The licence would have allowed Hecla to pump groundwater to supply the proposed copper and silver mine in the Cabinet Mountain Wilderness, an area of glaciated peaks and valleys that take thei...Read More
Gold prices could move higher later this year on the back of Fed dovishness on interest rates, purchases from central banks and lingering global uncertainties, said Martin Huxley, global head of precious metals at financial services firm INTL FCStone.Huxley told CNBC that gold could "grind higher" in the second half of the year and possibly reach $1,400 an ounce.A key factor boosting gold is the U...Read More
Nearly 100,000 call options are in open interest at the IWM April 158 strikeIt was a flattish performance last week for the iShares Russell 2000 ETF (NYSEARCA:IWM), which tracks the small-cap Russell 2000 Index (RUT), as caution about the pace of global economic growth put a damper on buying interest for the sector. But April so far has been fairly bullish for IWM, as evidenced by its month-to-dat...Read More
(Updates with closing prices)By Peter HobsonLONDON, April 16 (Reuters) - Zinc prices fell more than 3percent on Tuesday as a big inflow into London Metal Exchange(LME) warehouses fanned expectations that a supply deficit willsoon end.Benchmark zinc on the LME closed down 3.1 percent at$2,809.50 a tonne, the biggest daily fall since August, afterhitting a three-week low.The metal used chiefly to ga...Read More
* Positive economic data from U.S., China lift sentiment * Asian shares hover near 9-month peak * SPDR gold holdings slip to lowest since early Nov (Updates prices, adds comment)By Sethuraman N RApril 16 (Reuters) - Gold prices fell to a near 3-month lowon Tuesday as positive economic data from major economies stokedrisk appetite, weakening demand for safe-haven bullion. Spot gold was down 0.6perc...Read More
Community activists who oppose mining projects in South Africa live in constant fear as they are often harassed, threatened and sometimes killed, a group of human rights advocates says.In a joint report and video released on Tuesday, the Centre for Environmental Rights, groundWork, Earthjustice, and Human Rights Watch say locals who mobilize to raise concerns about potential environmental and heal...Read More
* Chinese data soothes investors nerves, focus turns to GDP * European stock volatility falls to its lowest since Jan2018 * Lufthansa delivers bigger-than-expected Q1 loss* Zalando rallies after upbeat profit forecast (Updates to close, adds details)By Agamoni GhoshApril 16 (Reuters) - European shares ended at an eight-monthhigh on Tuesday, bolstered by banking and financial stocks,upbeat data fro...Read More
The brisk turnaround in risk appetite last week, fueled by encouraging economic data and relatively strong Q1 earnings reports, has seen precious metals under pressure, while agricultural and energy commodities were mixed. Precious metals GOLD could be on track to close below the 100-day moving average at 1,288.47 today for the first time since November 15. The metal touched the lowest sinc...Read More
Hudbay Minerals' (TSX, NYSE: HBM) second-largest investor, Waterton Global Resource Management, has filed a lawsuit against the Canadian miner in a bid to constrain its ability to solicit proxies.Waterton alleges that the company's management information circular in respect of its annual and special meeting of shareholders to be held on May 7, 2019 contains misrepresentations.The private-equity fi...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Leonhard Foeger | ReutersGold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.Gold dropped 1 percent on Tuesday to its lowest level of 2019, as a string of robust economic data boosted demand for riskier assets like equities while bullion was further weighed down by gains in the U.S. dollar.Spot gold was down 0.88 percent...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average closed down Monday after earnings reports from Citigroup (C - Get Report) and Goldman Sachs Group (GS - Get Report) . Citigroup posted better-than-expected results in the first quarter. The stock dipped slightly. Goldman Sachs Group (GS - Get Report) fell 3.9% after first-q...Read More
Investing.com - Prices of safe-haven gold slipped on Monday in Asia and traded below the key $1,300 level as the release of stronger-than-expected China trade and credit data on Friday continued to bolster risk appetite.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.2%, at $1,292.15 per ounce by 12:55 AM ET (04:55 GMT).The precious met...Read More
Bob Moriarty ArchivesApr 16, 2019After some dreadful timing and miscommunication to the market, shares in Miramont plummeted from $.47 a share to $.12 in two days at the end of March. The company dumped some poor results from six holes onto the market and the market gagged. But the scout program consisted of nine holes and on the12th of April Miramont released the assays from the last three holes....Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comApril 16, 2019 Global stock and bond markets continue to be driven by the macros of a possible trade deal, accommodative central banks, weaker earnings, continued stock buybacks, and rising government debt. Gold is driven by these same macros, but it has the additional price driver of sea...Read More
By Adam Taggart"We are on the precipice of the greatest retirement crisis in the history of the world. And that makes perfect sense because, first of all, we have the largest elderly population in the history of the world.Just focusing on the United States: our elderly are woefully unprepared to retire. And in the decades to come we will witness millions of elderly American's, Baby Boomers and...Read More
By: Keith Weiner, Monetary MetalsLast week, we wrote that regulations, taxes, environmental compliance, and fear of lawsuits forces companies to put useless ingredients into their products. We said:"For example, milk comes from the ingredients of: land, cows, ranch labor, dairy labor, dairy capital equipment, distribution labor, distribution capital, and consumable containers."There are eight n...Read More
By: Jordan Roy-Byrne CMT, MFTA The big picture fundamentals for precious metals have been trending more bullish in recent months as expectations for the Federal Reserve went from a few rate hikes in 2019 to an expectation of a rate cut within the next 12 months. That is aligned with the peak in the 2-year yield and growing concerns over slowing growth globally.However, that doesn't preclude a te...Read More
When the S&Ps took a bold leap on December 26 after plummeting 500 points earlier in the month, few could have imagined what would happen next. It were as though, missing an arm and a leg, a soldier had vaulted from a trench in the heat of the Battle of the Somme and shouted "Vive la France!" In the movie, the soldier is dead before he stumbles and hits the ground. But on Wall Street, U.S. stock...Read More
1. Global stock and bond markets continue to be driven by the macros of a possible trade deal, accommodative central banks, weaker earnings, continued stock buybacks, and rising government debt.2. Gold is driven by these same macros, but it has the additional price driver of seasonal Chindian physical market demand.3. It's currently the soft season for physical demand, but the r...Read More