Gold breaks to the downside, hits 2-day lows The yellow metal reversed sharply, falling $10 from day’s highs. Price remains in short-term range, still above key MA but the bearish momentum is intensifying. Gold reached earlier today at $1,318/oz the highest level since February 4. When the US dollar started to rise across the board, XAU/USD pulled back to the $1,310 a...Read More
By: Craig Hemke With our initial price goals for 2019 having been achieved, COMEX gold and silver are now in their first pullback phase of the year. How long will it last and what are the next upside price targets?If you've been following along every week, then you'll recall that we were quite adamant regarding a year-end 2018 and Q1 2019 price rally for both gold and silver. From the November...Read More
By: Ira EpsteinGold (and silver) continues to hold in key support zone of 18-Day Moving Average of Closes. China buying more gold again. Supportive of the gold market. Gold drifting sideways..Read More
By: Jordan Roy-Byrne CMT, MFTAGold stocks have to do more to confirm they are in a new bull market.Sure, they've surged above key moving average resistance and breadth has improved.However, the gold stocks have not yet broken the pattern of lower highs and breadth, while improved, is not at bull market levels yet. Let's review where things currently stand.In recent weeks GDX and GDXJ surged abov...Read More
By: Stewart Thomson, Graceland Updates: 1. Is the latest tiny price correction in gold already done? 2. Please click here now. Double-click to enlarge this daily gold chart. The uptrend looks majestic, and especially so in the face of the dollar's strength against the euro and the yen.3. Whether gold rallies from the current $1306 support zone or from $1280 is not imp...Read More
The Indoos stalled Monday almost precisely at the 25,440 midpoint Hidden Pivot shown. Buyers subsequently gave up almost no ground, setting up a likely move past the resistance on Wednesday. If it's decisively exceeded, that would all but clinch more upside to the 25,998 target. This was already no worse than an even-odds bet because the initial thrust, labeled A-B in the chart, exceeded two...Read More
ATVI and FCX were two of the best S&P stocks todayU.S. stocks rose again today, with the Dow posting another triple-digit victory. Mostly, the gains were fueled by the same tailwinds from Tuesday, namely the tentative budget dealto avoid a government shutdown, and potential flexibility for the March 1 trade deadline with China. Big days from Activision Blizzard (ATVI) and Freeport-McMoRan (FCX) gu...Read More
The brokerage firm expects a big announcement from the companyU.S. stocks are higher today on positive trade headlines. Among individual names on the move are farm equipment maker Deere & Company (NYSE:DE), connectivity equipment expert Aquantia Corp (NYSE:AQ), and energy infrastructure specialist Clearway Energy Inc (NYSE:CWEN). Here's a quick look at what's moving the shares of DE, AQ, and CWEN....Read More
Dundee Precious Metals offered a look at the fourth quarter and positive full year financials for 2018. The company recorded revenue of $377.1 million and adjusted net earnings of $29.0 million. The all-in sustaining cost per ounce of gold produced was $659. (All monetary figures are U.S. dollars.)For the full year, metal production totaled 201,095 oz. of gold and 36.7 million lb. of copper. The...Read More
The Dow name enjoyed a 2.5% lift following its October earnings reportDow name The Coca-Cola Co (NYSE:KO) is scheduled to report fourth-quarter earnings ahead of the bell tomorrow, Feb. 14. Below, we will dive into how KO has been faring on the charts, and take a look at what the options market is pricing in for the shares' post-earnings move. Last seen trading up 0.1% at $49.69 -- and within str...Read More
Newcrest Mining Ltd, Australia's top gold miner, on Thursday said its first-half profit more than doubled, buoyed by record gold and copper production at its Cadia operations.First-half results were also boosted by a weakening of the Australian dollar, which helped control costs at its Australian operations, the company said.Copper production during the first-half came in at 51.8 thousand tonnes,...Read More
Near-term put contracts are popular todayIt seems a Seeking Alpha article deeming El Pollo LoCo Holdings, Inc. (NASDAQ:LOCO) "uninvestible" is sinking the stock today. LOCO shares were last seen down 3.7% at $14.74, and put volume has exploded, with nearly 6,000 contracts crossing so far, compared to a daily average of just 162. Signs point to buy-to-open activity at the February 15 and March 13 p...Read More
Gold futures finished higher for a second consecutive session on Wednesday, but pared much of their earlier gains as traders tracked moves in the benchmark dollar index, the latest developments in the U.S.-China trade dispute and efforts to avoid another partial U.S. government shutdown. "The 'risk-on' vibe sweeping across global markets and the stabilizing U.S. dollar are bad news for gold which...Read More
Gold futures finished higher for a second consecutive session on Wednesday, but pared much of their earlier gains as traders tracked moves in the benchmark dollar index, the latest developments in the U.S.-China trade dispute and efforts to avoid another partial U.S. government shutdown. "The 'risk-on' vibe sweeping across global markets and the stabilizing U.S. dollar are bad news for gold which...Read More
Almost half of S&P 500 stocks are above their 200-day trendlinesAs we noted in this week's Monday Morning Outlook, nearly half ofS&P 500 Index (SPX) stocks are above their 200-day moving averages. While we haven't yet crossed the 50%-of-stocks threshold, we're definitely on the cusp. Below, we take a look at SPX performance when the majority of stocks trade above their 200-day trendlines after a l...Read More
SilverCrest Metals expects to update the resource estimate and complete a preliminary economic assessment in the first quarter of the year on its Las Chispas silver project in Mexico.A resource estimate in September 2018 focused on an estimated 5.5 km of about 20 known kilometers of cumulative vein strike length in the district, about 180 km northeast of Hermosillo in the state of Sonora.Las Chisp...Read More
The company will purchase CBD processing firm Khrysos GlobalE-commerce concern Youngevity International Inc (NASDAQ:YGYI) is one of the top performers on the Nasdaq today, after the company inked a deal to purchase Khrysos Global, a Florida-based firm that specializes in hemp-based CBD processing equipment. In addition, Benchmark lifted its price target on YGYI stock to $14 from $9 -- nearly doub...Read More
A new lithium technology could change the face of lithium production forever.Andrew Carnegie didn't invent the Bessemer converter, but used it to amass an incredible fortune producing steel at lower costs. What one simple machine can do for increasing production and lowering costs is staggering (think of the cotton gin).The lithium industry has been plagued with inefficiency and expensive producti...Read More
The Dow is heading toward its second-straight day of triple-digit gainsThe Dow Jones Industrial Average (DJI) is higher at midday after President Donald Trump indicated he could be flexible with the U.S.-China trade deal deadline. Adding to the bullish buzz are news Chinese President Xi Jinping will participate in trade negotiations with U.S. delegates later this week. The S&P 500 Index (SPX) and...Read More
Swedish mining and smelting firm Boliden reported fourth-quarter core earnings ahead of market forecasts on Wednesday, but proposed a total shareholder payout below analyst expectations.Operating profit, excluding revaluation of process inventory, fell to 2.00 billion Swedish crowns ($216 million) from 2.91 billion a year earlier, beating the 1.89 billion seen by analysts in a Reuters poll.The com...Read More