Rio Tinto (ASX, LON: RIO), the world's second largest miner, is recommending shareholders to vote against a resolution requiring the company to release its direct emissions details and strategies on how its greenhouse gas emissions and those of its customers can be cut.In a letter from chairman Simon Thompson, Rio urged investors to vote against the proposed rule change that would have the miner t...Read More
The price of gold retested the $1300 level last week.Aggressive futures short-selling on the Comex took the price of gold below $1300 on Thursday.I believe the long period of consolidation in the precious metals sector is finally ending.I sourced the chart below from a blog called The Macro Tourist. I added the title and the two yellow trend lines. The chart shows the daily price of gold since the...Read More
Published 23 Hours AgoUpdated10 Hours AgoReuters Leonhard Foeger | ReutersGold prices rose on Friday, recovering from the previous session's sharp fall, as the dollar dipped and mounting concerns about a slowdown in global economic growth boosted demand for the safe-haven bullion.Spot gold had gained by 0.33 percent to $1,305.11 per ounce, after shedding about 1 percent the day before. U.S. gold...Read More
Each year, nearly 33 million people worldwide celebrate Saint Patrick's Day, according to a new WalletHub study. The holiday can get quite expensive for consumers. In 2019, consumers are expected to spend about $5.6 billion on the holiday. To put that into perspective, the average person is to spend about $40 during this year's celebrations. This day is also one of the most popular day...Read More
StrengthsThe best performing metal this week was palladium, up 2.42 percent, despite speculators cutting their bullish view to a four-month low. Gold traders were bullish this week, after two weeks of being neutral on the outlook for the yellow metal, on the expectation that central bank policies will help spur demand, according to the weekly Bloomberg survey. Gold climbed back above the $1,300...Read More
By: Dave KranzlerI sourced the chart below from a blog called The Macro Tourist. I added the title and the two yellow trend lines. The chart shows the daily price of gold since the inception of the bull market in 2000-2001. Last Friday (March 8th) gold popped $12 +/- (depending on the time from which you measure). I mentioned to some colleagues that "gold may be starting something special."The...Read More
By: Avi GilburtMany investors maintain beliefs about the stock market which often have them looking the wrong way at the market turns. In fact, I can no longer count how many comments I see about how the Fed is what directs our stock market action, and it just makes me scratch my head.The main argument by Fed watchers is that the Fed's easy money drives the stock market. Yet, the Fed's balance s...Read More
The broad averages have rallied from their Christmas lows almost as steeply as they got there in the fourth quarter. The first 2,000 points of the Dow's trampoline bounce took just seven trading days. At the time, we wrote that the trend would continue until even hardcore skeptics were convinced that new all-time highs were likely. That is what bear rallies are supposed to do. Well, another 1100...Read More
Probably not much. It's in their interest to just sit back and wait while the rest of the world opens up the money spigot. They'll probably wind up doing that too, but right now they can just keep the machine idling until the direction becomes clearer. We also had a discussion about Basel III. It could be that once again gold reserves will be considered money. Is that too much to hope for and woul...Read More
David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism in America...Read More
One of history's hard lessons is that collapsing financial systems beget authoritarian politics. Today's world, alas, is following this script, as rising debts lead to wrenching politicalContinue...Read More
Jason talks about how and why DC is so adverse to meaningful change and good ideas.Jason talks about how a small army of highly paid consultants, lobbyists and federal government bureaucrats are leaking, sabotaging and delaying President Trump's policies and working on getting Trump's political appointees fired. Read More
There's many changes afoot in the gold mining sector. The so-called GDX-J appears to be ready undergo another makeover. This time non-cashflowing companies will be removed from the index. Only producers and royalty companies will be included. What about all those exploration companies? How will this impact their ability to raise capital? We talk extensively about Barrick-Newmont-Goldcorp and where...Read More
Jason talks about the how President Trump is lying about how well the US economy is doing based on a really poor Atlanta Fed Q1 2019 GDP number. Construction spend also declined 6% according to the most recent data released. All signs are pointing to serious trouble for U.S. economic activity. There is zero data that supports economic activity is strong or even sustainable, only words.What is trou...Read More
Gold is back above $1300 per ounce to start the week as the market lookgs forward to the next Fed meeting Continue...Read More
Aftergold’s plunge on Thursday, it made a comeback attempt on Friday. But thaterased only half of Thursday’s vigorous decline. The situation in silver and goldminers doesn’t provide much ground for optimism either. The silent scream wewrote about in the Wednesday’s Alert for our subscribers brought seriousrepercussions. Both immediately and step-by-step as in a trainwreck i...Read More
It’s been years since the gold and silver topped out in 2011. We have been waiting for a new bottom form and a new bull market to emerge for nearly 8 years. In this article, I’m going to compare palladium, gold, platinum, and silver and show you which of these precious metals I feel is the best long-term investment and also the best trade for 2019.The analysis presented below is based...Read More
One problem for the gold stock sector was highlighted here and here evidently a little too obnoxiously for the liking of some bugs. The problem was the aggressive bullhorn sounds emanating from every orifice of the gold community the minute the charts broke upward into an obviously bullish technical state.But while the HUI/Gold ratio has been a distinctly positive technical indicator and many bull...Read More
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.Coming up Michael Pento of Pento Portfolio Strategies joins me for a must-hear conversation on why he believes central bankers must perpetually keep interest rates near zero -- and the massive inflationary bubble economy that will likely result. Also, find out how Michael is approaching gold and gold related investments for h...Read More
By: Keith Weiner, Monetary MetalsMy goal is to make you mad. Not at me (though I expect to ruffle a few feathers with this one). At the evil being wrought in the name of fighting inflation and maximizing employment. And at the aggressive indifference to this evil, exhibited by the capitalists, the gold bugs, and the otherwise-free-marketers.So, today I am going to do something I have never done....Read More