A short squeeze could help IQ extend its gainsShares of iQIYI Inc (NASDAQ:IQ) are up 0.4% to trade at $24.50 this morning, after the Chinese video streaming service inked a deal to provide in-vehicle entertainment for Ford Motor (F) in its new Sync+ system. The feature will be rolled out in Ford and Lincoln models in China later this year.On the charts, iQiyi stock has added 70% since its Jan. 2...Read More
Following a sharp sell-off last Thursday, gold prices have since stabilised. Last week’s weakness was due, among other things, to the strength of US dollar and renewed risk appetite, which saw US stocks rebound after a small pullback the week before. But as mentioned then, I continue to think that the downside could be limited for gold due mainly to the recent falls in global bond yields and...Read More
Markets PMIs EUR USD Gold Oil Markets buoyed by Sino-US talks and PMI data It's been a strong start to trading on Wednesday and the US looks poised to follow, with futures up around half a percent ahead of the open. The optimism has carried over from Asia where reports of progress in Sino-US trade talks and another strong Chinese PMI reading provided the fuel for Wednesday's...Read More
Saudi Arabian Mining Co. wants to more than double gold output within five years.Maaden, as the state-backed company is known, plans to boost gold output from about 415,000 ounces this year to one million by 2025, Chief Executive Officer Darren Davis said in an interview. That would catapult the oil-rich kingdom from a marginal gold producer to one of the world's top-20 suppliers.Maaden will boost...Read More
The Financial Times is reporting on encouraging U.S.-China trade progressDow Jones Industrial Average (DJI) futures are trading well above fair value this morning, with traders upbeat ahead of the latest round of U.S.-China trade talks. With Chinese Vice Premier Liu He in Washington D.C. today, the Financial Times is reporting the two sides have made significant progress in negotiations. Traders...Read More
(Updates with closing prices)By Peter HobsonLONDON, April 3 (Reuters) - Prices of copper and otherindustrial metals rose on Wednesday as strong Chinesemanufacturing data and reports of progress in U.S.-China tradetalks bolstered the demand outlook.Copper also reflected indigenous leaders in Peru rejectingtalks with the government to end disruption at a major mine.Benchmark copper on the London Met...Read More
* SPDR Gold holdings fall to lowest since March 8 * Silver off 3-month lows hit on Tuesday * GRAPHIC-2019 asset returns: (Updates prices)By Sumita LayekApril 3 (Reuters) - Gold steadied on Wednesday, supported bya dip in the dollar, while gains were capped by a rally inglobal stocks following reassuring economic data from the UnitedStates and China and optimism the two countries would strike atrad...Read More
About 200 people recently took part in the International Collegiate Mining Competition, held in Virginia City, Nevada.Bryn Llewellyn, from Camborne School of Mines at the University of Exeter, hand steeling. Photo by Max Willcock.For the 41st year in a row, the three-day event gathered students from mining schools from around the world who formed 18 teams in the men's category and eight teams in t...Read More
Gold is currently trading at $1,293, having hit a low of $1,285 earlier this week. The bullish divergence of the 4-hour chart relative strength index suggests scope for a further rise to $1,300. The bounce, however, could be short-lived, as the 50-candle MA is about to cross the 200-candle MA from above. Further, the RSI on the daily chart is biased bearish below 50.00. The 5- and 10-day MAs conti...Read More
Barrick Gold's (TSX:ABX) (NYSE:GOLD) executive chairman, John Thornton, said Wednesday he was encouraged by the Democratic Republic of Congo's (DRC) newly elected president Felix Tshisekedi's vision of attracting foreign investment and supporting the development of the country's mining industry.The Canadian miner, which operates the country's Kibali mine, one of the world's ten largest gold mines,...Read More
Brexit Trade Talks Bitcoin Oil Gold European equity markets are poised to open around half a percentage point higher on Wednesday, with the FTSE the notable underperformer after the pound rallied following Theresa May’s appeal to the opposition to help break the Brexit impasse. Sterling higher as May reaches out to the opposition to break Brexit impasse The next stage in the Brex...Read More
Gold is seen by the investment community or even by society's common sense as a great hedge for uncertain times.In an attempt to normalize liquidity in the interbank loan market, the Fed reduced interest rates and used several mechanisms to provide liquidity.The Lehman's bankruptcy brought renewed liquidity problems. That meant that the Fed needed to react.Gold (NYSEARCA:GLD) is seen by the in...Read More
ISIS has claimed it kidnapped and killed a Canadian geologist in Burkina Faso three months ago, according to the latest issue of the propaganda newsletter Al-Naba, circulated last week.Halifax, Nova Scotia-based Kirk Woodman, vice-president of exploration for private gold explorer Progress Minerals, was found dead on Jan. 16 in rural Burkina Faso, after having been abducted a day earlier.Propagan...Read More
Silver can be frustrating for holders of the physical metal.Investors are losing both money and opportunity.The last three years of sideways price action have been frustrating for the bulls.Silver can be frustrating for holders of the physical metal. Stuck in a sideways pattern since 2014, silver has been oscillating between support at roughly $14.00 per ounce and resistance at $21.00 per ounce. T...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average fell Tuesday as shares of Walgreens Boots Alliance (WBA - Get Report) declined after the Dow component missed earnings estimates. Dow Inc. (DOW shares climbed 4.8% to $56.04 in their debut on the New York Stock Exchange. Shares of Lyft (LYFT fell slightly in their third day of trading f...Read More
The Tuesday Market Minute Global stocks mixed as stronger-than-expected U.S. and China factory data cloud the trade war impact on economies in other parts of the world.European stocks edge higher as the single currency retreats following soft inflation data that likely leaves the ECB with few options beyond further easing in President Mario Draghi's final months in Frankfurt.U.K. lawmakers...Read More
By Barani KrishnanInvesting.com - The good news for gold bugs is there's always some news on economic uncertainty out there to keep the yellow metal from collapsing.The bad news is there hasn't been enough news of economic uncertainty lately to push prices back above the key $1,300 level.Bullion and futures of gold rose on Tuesday as latest U.S. data renewed worries about growth in the world's lar...Read More
Investing.com - Gold prices slipped on Tuesday in Asia after data suggested China's manufacturing sector was recovering from a sharp slowdown earlier in the year.Gold futures traded on the Comex division of the New York Mercantile Exchange were down 0.3% to $1,290.65 by 12:45 AM ET (04:45 GMT).China's Caixin/Markit manufacturing purchasing managers' index (PMI), released on Monday, rose to 50.8 fr...Read More
You will recall that last Wednesday a warning was posted before the open that gold was about to break sharply lower from a bear Flag, which it did the very next day, so you had a full day of trading to prepare, either by exiting positions, placing stops or purchasing inverse ETFs or Puts, and I was pleased to learn that some of you did just that. As we can see on gold's latest 8-month chart bel...Read More
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