The Dow was down over 300 points at its session lows earlierThe Dow Jones Industrial Average (DJI) isfirmly in the red to begin the week, down triple digits at midday amid sputtering oil prices. But while the blue-chip index has come off its sharper session lows from the morning, black gold is still careening around its lowest level in more than 20 years amid growing demand and storage concerns....Read More
The November 2 put is home to a six-digit trade Even though oil prices are sputtering today, a big winner on Friday, April 17, was WPX Energy Inc (NYSE:WPX). In light of Friday's breakout, options traders are blasting the energy stock, with a greater-than-normal tilt toward puts. Mid Friday, WPX put option volume was running in the top percentile of its annual range. Over 31,000 puts crossed t...Read More
The fast food chain said it will return its small business loan after receiving backlash from After drawing sharp criticism for tapping into the U.S. government's small business loan program, Shake Shack (NYSE:SHAK) announced it is returning its entire $10 million loan. The company is the first major firm to give back coronavirus-related bailout money. SHAK stock is down 3.5% in response, last see...Read More
Instinet cut its price target from $117 to $87 this morning, tooShares of Wynn Resorts Ltd (NASDAQ:WYNN) are down 2.9% to trade at $76.16 this morning, after CEO Matt Maddox over the weekend called for a conditional re-opening plan for the Las Vegas Strip in mid-to-late May. Following the news, Instinet cut its price target from $117 to $87, though it kept its "buy" rating. The analyst, Harry Curt...Read More
The FTC approved PepsiCo's $3.85 billion acquisition of Rockstar Energy The shares of PepsiCo, Inc (NASDAQ:PEP) are down 1% at $136.20 on news that the Federal Trade Commission (FTC) approved the food and beverage company's plan to acquire Rockstar Energy in a $3.85 billion deal. The acquisition, which was announced last month, is expected to go into effect later this week. Pepsi has spent April...Read More
Congress is nearing a second round of loan rescue programsFresh off a sizable weekly win, Dow Jones Industrial Average (DJI) futures are poised to give back a large chunk of last week's gains this morning. Stocks look ready to fall in concert with oil prices, which plummeted over the weekend amid concerns over demand outlook during the coronavirus outbreak. At last check, June-dated crude futures...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended April-17, 2020 $AEM, $CXB.TO, $KOR.TO, $EGO, $AG, $FSM, $GCM.TO, $HL, $JAG.TO, $MUX, $NUAG.V, $OSK.TO, $ROXG, $RGLD, $SILV, $SSRM, $TXG.TO, $WDO.TO, $WPM, $AUY Agnico-Eagle: The government of Quebec declared mining an essential business, which has a significant impact on Agnico as several of its highly profitable operations...Read More
[This text is excerpted from the introduction to Anatomy of the Crash, a Mises Institute ebook to be released in April 2020.]Jeff Deist, President of the Mises InstituteThe Great Crash of 2020 was not caused by a virus. It was precipitated by the virus, and made worse by the crazed decisions of governments around the world to shut down business and travel. But it was caused by economic fra...Read More
Dear Friend of GATA and Gold:More than three weeks ago the London Bullion Market Association and CME Group, operator of the New York Commodities Exchange, announced that they were cooperating in the creation of a Comex gold contract offering delivery not just of the usual Comex 100-ounce bar but also the option of a certificate for a one-quarter stake of ownership in a 400-ounce bar.The CME Grou...Read More
By: Ira EpsteinGold's weekly chart is bullish, 18-week moving average nearing $1,600 -- a big support area for gold. Upper Bollinger bands at $1722 area and rising...Read More
Nothing Like NormalMath ProblemA Few Thoughts on UnemploymentRepricing the WorldStaying at HomeThe viral fog is starting to thin. US coronavirus case growth appears to be slowing, albeit at a tragically high level. Governments and businesses are thinking about the next stage.On the other hand, fog tends to return when the weather is right. Might this virus come back, as seems to be happening in...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended April-17, 2020 $AEM, $CXB.TO, $KOR.TO, $EGO, $AG, $FSM, $GCM.TO, $HL, $JAG.TO, $MUX, $NUAG.V, $OSK.TO, $ROXG, $RGLD, $SILV, $SSRM, $TXG.TO, $WDO.TO, $WPM, $AUY Agnico-Eagle: The government of Quebec declared mining an essential business, which has a significant impact on Agnico as several of its highly profitable operations...Read More
[This text is excerpted from the introduction to Anatomy of the Crash, a Mises Institute ebook to be released in April 2020.]Jeff Deist, President of the Mises InstituteThe Great Crash of 2020 was not caused by a virus. It was precipitated by the virus, and made worse by the crazed decisions of governments around the world to shut down business and travel. But it was caused by economic fra...Read More
Dear Friend of GATA and Gold:More than three weeks ago the London Bullion Market Association and CME Group, operator of the New York Commodities Exchange, announced that they were cooperating in the creation of a Comex gold contract offering delivery not just of the usual Comex 100-ounce bar but also the option of a certificate for a one-quarter stake of ownership in a 400-ounce bar.The CME Grou...Read More
By: Ira EpsteinGold's weekly chart is bullish, 18-week moving average nearing $1,600 -- a big support area for gold. Upper Bollinger bands at $1722 area and rising...Read More
Nothing Like NormalMath ProblemA Few Thoughts on UnemploymentRepricing the WorldStaying at HomeThe viral fog is starting to thin. US coronavirus case growth appears to be slowing, albeit at a tragically high level. Governments and businesses are thinking about the next stage.On the other hand, fog tends to return when the weather is right. Might this virus come back, as seems to be happening in...Read More
COLORADO SPRINGS, CO, April 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") reports preliminary consolidated production results for the first quarter ended March 31, 2020 of 10,142 gold ounces, 407,625 silver ounces and significant copper, lead and zinc. Gold Resource Corporation is a gold and silver producer, developer and exp...Read More
"After all, the chief business of the American people is business. They are profoundly concerned with producing, buying selling, investing and prospering in the world." John Calvin Coolidge Jr., American politician, lawyer, 30th President of the United States 1923-1929, Republican; 1872-1933 "The diseconomies of capitalism are treated as the public's responsibility. Corporate America skims the...Read More
By Clint SiegnerInvestment demand for physical gold and silver is unrelenting. Buying activity actually picked up slightly last week as paper gold and silver prices drifted sideways to lower.Once again, anyone simply watching the gold price on CNBC would be shocked to know just how many people are buying gold.The Fed, and the cabal of Wall Street Banks it represents, are undoubtedly relieved to...Read More