Gold trades inversely to real interest rates, the opportunity cost of holding the metal over cash/short-term bonds.Real interest rates have peaked and are trending lower.The best scenario for gold is a situation of lower interest rates and rising inflation, thus lower real interest rates.A Regime Change For Gold Over the past several weeks, there has been a regime change for the price of gold whic...Read More
Tesla stock is higher after an upgrade to "buy"Dow Jones Industrial Average (DJI) futures are signaling again out of the gate, as the trade-related pessimism that plagued stocks last week has abated.Advisors to President Donald Trump have reportedly talked about a mid-March meeting with Chinese President Xi Jinping, after last week Trump said a meeting between the two leaders likely wouldn't happe...Read More
Loop Capital also targeted 22% downside for BBBY stockLoop Capital downgraded Bed Bath & Beyond Inc. (NASDAQ:BBBY) to "sell" from "hold," and cut its price target to $12 from $13. The brokerage firm called BBBY stock's recent gains "unwarranted," and said the home goods retailer's 2019 fiscal guidance is "unrealistic." Further, Loop Capital noted, "BBBY shareholders are unlikely to be 'bailed out...Read More
Boeing stock tends to outperform after government shutdowns, tooThe shares of Boeing Co (NYSE:BA) are up 1% in electronic trading, ahead of a critical week of trade talks between the U.S. and China. Also fueling the fire is a bull note from J.P. Morgan Securities, which upped its price target on the aerospace giant to $450 from $425, an 11% premium to Friday's closing perch of $404.91 and standin...Read More
There's still a chance analysts could raise their price targets on TWLO sharesCloud communications specialist Twilio Inc (NYSE:TWLO) has seen its stock outperform over the past year in a big way, rising from around $25 this time last year to Friday's close of $114.78, holding just below the Feb. 5 record high of $116.54. The company is preparing to report earnings after the close tomorrow, Feb. 12...Read More
South Africa's AngloGold Ashanti (NYSE:AU) (JSE:ANG), the world's third-largest producer of the metal, has completed the first week of underground development blasting at its Obuasi mine, in Ghana, as part of a redevelopment project that aims at having the operation pour first gold by the end of the year.The first blast, on February 1, advanced development by around 4.2 metres on the 2,700 level,...Read More
We finally saw positive North American inflows into equities last weekBears jumped on last Thursday's news that a trade deal with China was doubtful before the March 1 deadline -- with the White House later confirming that it would be highly unlikely that President Donald Trump and President Xi Jinping could meet to hammer out the final details before the deadline. The news happened to coincide wi...Read More
How you can transform lagging indicators into leading indicators.Despite the strong January kick-start to 2019, many investors are still apprehensive of what's to come, especially considering some of the latest market-moving events -- think Fed policy announcements, U.S.-China trade negotiations, and earnings season, to start.While it's certainly no crystal ball, becoming familiar with the various...Read More
Italy's populists opened a new front in their clash with the country's central bank, calling on lawmakers to pass legislation stating that its gold holdings worth almost $103 billion belong to the state.The gold ownership bill presented by euroskeptic lawmaker Claudio Borghi of the League adds to an already tense relationship between the Bank of Italy and the coalition government. It's also sparke...Read More
• The USD climbs to 6-week tops and exerts some fresh downward pressure. • Risk-off mood/resurfacing US-China trade tensions might help limit losses. Gold met with some fresh supply at the start of a new week and is currently placed at the lower end of its daily trading range, just above $1310 level. The precious metal struggled to build on last week&...Read More
Vancouver-based Kenadyr Mining (TSX-V: KEN) announced today that it has entered into a non-binding letter of intent in connection with a proposed option and joint venture agreement with Gold Mountains Asset Management in respect of the Borubai gold project, located in the Kyrgyz Republic in Central Asia.In a press release, the miner explained that the plan is to grant Gold Mountains an exclusive o...Read More
Vancouver-based Kenadyr Mining (TSX-V: KEN) announced today that it has entered into a non-binding letter of intent in connection with a proposed option and joint venture agreement with Gold Mountains Asset Management in respect of the Borubai gold project, located in the Kyrgyz Republic in Central Asia.In a press release, the miner explained that the plan is to grant Gold Mountains an exclusive o...Read More
Will Rhind has seen the top of the gold market, and the bottom. Now, the leader of the fastest-growing bullion-backed ETF in the past year is redefining it by forcing down the fees paid by investors.Rhind, 39, joined the World Gold Council, the company behind SPDR Gold Shares, in 2007, just as exchange-traded funds were starting to gain investor attention. He watched assets hit an all-time high in...Read More
Peru's environmental agency OEFA is investigating what looks like a tailings spill from Southern Copper's Cuajone mine into a river as the area where the operation is located has been inundated by heavy rains in the past four days.The authority detected a "flow of a greenish solution" into the nearby Torata River in the waste deposit area of the operation, located in the Moquegua region approximat...Read More
Gold convincingly crossed the falling channel hurdle on Friday, signaling an end of the corrective pullback from recent highs above $1,325. So far, however, the bull breakout has not emboldened the bulls. 4-hour chart The falling channel breakout seen in the above chart represents a bearish-to-bullish trend change. Put simply, the doors have been opened for a test of the recent high of...Read More
* FTSE 100 up 0.8 pct * FTSE 250 up 1 pct * BATS, Imperial Brands gain * Smith & Nephew slumps after M&A chatter * Mid-cap Metro Bank jumps on rating upgrade (Changes quote, updates to closing prices)By Muvija M and Shashwat AwasthiFeb 11 (Reuters) - British blue-chip names bounced back onMonday buoyed by strength in bank and consumer shares, while astronger dollar lifted companies with gr...Read More
Russia's largest gold producer, Polyus, on Monday reported a 20 percent jump in fourth-quarter adjusted net profit to $291 million compared with last year, lifted by increased production and rising sales of the metal.Adjusted net profit for the full year rose to $1.33 billion, Polyus said, up from $1.02 billion in 2017.Shares in Polyus were down 0.7 percent at 0828 GMT.The company also said adjust...Read More
LONDON, Feb 11 (Reuters) - Acacia Mining beat forecasts on Monday with figures for its production and costs in 2018 that lifted the gold miner back into profit, but the company is still grappling with a long-running tax dispute in Tanzania where it operates all its mines.Shares in Acacia, majority owned by Barrick Gold Corp , were steady while the rest of the market rose, finding little impetus de...Read More
Gold is doing its seasonal thing, up from $1,200/oz in Q4 2018 to its current price of $1,314/oz.Further, gold miners, particularly 3 Canadian developers: Pure Gold Mining, Marathon Gold, and Sabina Gold and Silver have outperformed not only gold but the mining ETFs, GDX and GDXJ, ytd.The outperformance of the aforementioned Canadian developers are worth tracking as they could be signaling that in...Read More
As the deadline looms to come up with a plan to save the U.S. from another partial government shutdown, the White House signaled that the possibility of a closure was still "on the table" while a stall in negotiations was reported over the weekend. Mick Mulvaney, acting White House chief of staff, said on Fox News Sunday that a "government shutdown is technically still on the table -- we do not...Read More