Latest dollar rally threatens to undermine gold's currency component.A temporary pullback in the gold price is overdue and probably needed.Record central bank demand, however, will keep gold's recovery intact.The last few months have been extremely rewarding for gold investors. The gold price gained 10% from its August 2018 lows and with hardly a pullback along the way. After this impressi...Read More
An India state will give gold worth about $530 to every bride from a poor family, the latest budget giveaway ahead of a general election that must be held by May.The northeastern state of Assam is run by Prime Minister Narendra Modi's Hindu nationalist Bharatiya Janata Party (BJP), which is facing a battle for re-election because of low farm incomes and a lack of jobs that have turned off some of...Read More
The company just posted a profit for the first time in five quartersThe shares of GoPro Inc (NASDAQ:GPRO) are up 2.4% at $5.27 in early market trading, after the company announced fourth-quarter earnings and revenue that beat analysts' expectations. This is the first time in five quarters that the company has reported a profit, and CEO Nicholas Woodman said, "With this momentum and a continued foc...Read More
Canada's Trilogy Metals (TSX, NYSE: TMQ) is upping the exploration budget for its projects in Northwest Alaska, after its partner Australia's South32 (ASX, LON:S32) agreed to equally fund a program along the Ambler volcanogenic massive sulphide (VMS) belt.Each company will contribute an additional $1 million for exploration at the Upper Kobuk Mineral Projects (UKMP), in addition to the $18....Read More
At least a dozen price-target hikes have been issued already to CMGThe shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) are up 10% to trade at $578.98, and nabbed a three-year high of $580 out of the gate. The burrito chain reported fourth-quarter adjusted earnings of $1.72 cents per share -- smashing the average estimate of $1.37-- while revenue of $1.20 billion also topped the $1.19 billion f...Read More
• The USD climbs to two-week tops and keeps exerting downward pressure. • US-China trade optimism further dampens the metal’s safe-haven demand. • Worries over slowing global economic growth might help limit deeper losses. Gold held on to its weaker tone through the early European trading session, albeit has managed to rec...Read More
GM, meanwhile, continues to get praise from Wall StreetFiat Chrysler Automobiles NV (NYSE:FCAU) is down 11.5% before the open, as a downbeat 2019 forecast overshadows a seemingly strong fourth-quarter report. There has yet to be any notable updates from the analyst community following the automaker's quarterly report, but FCAU should be wary of future bear notes. The shares were already down 24%...Read More
GOLD So last night we broke my key 1308 level and therefore I cut my long Gold position...I still think Gold is a buy at lower levels...but it was obviously a turning point for me was the break of 1308...Now what...well the market has eased its overbought conditions that we saw up at 1326...and now we are at neutral levels...although still currently pointing lower... We do have support in the 1032...Read More
President Nicolas Maduro blew through more than 40 percent of Venezuela's gold reserves last year in a desperate bid to fund government programs and pay millions to bondholders.The government sold a total of 73 tons of gold to two firms in the United Arab Emirates and another in Turkey, opposition lawmaker Carlos Paparoni told reporters in Caracas on Wednesday. That drained reserves to about 110 t...Read More
The stock could be headed toward its worst day everSolid Biosciences Inc (NASDAQ:SLDB) could be on track for its worst day ever, after the life sciences company reported disappointing preliminary data for its Duchenne Muscular Dystrophy (DMD) gene therapy treatment. The study includes a planned dose escalation, and the company plans to move forward with a higher dosage.In reaction to this early da...Read More
Twitter stock is down on weak current-quarter guidanceDow Jones Industrial Average (DJI) futures are pointing to a triple-digit drop today, on renewed concerns about the health of the global economy. The European Commission reduced its 2019 economic growth forecast for the eurozone, citing international trade tensions. In addition, traders are digesting the latest round of earnings reports, with s...Read More
With testing underway, one medical marijuana breakthrough could tempt some major pharma players. The medical marijuana industry is creating massive opportunities for forward-thinking investors. The global market is estimated to be worth $7.7 billion, and will potentially see a compound annual growth rate of 60 percent, as other countries continue to liberalize their medical marijuana laws. Grand...Read More
Following the review of historical data that indicate copper and silver grades are open in all directions at the Engels project in northern California, Crown Mining (TSXV: CWM) announced this week its decision to increase its land package in the area.In a press release, the Toronto-based company said that it has staked an additional 35 new federal mining claims adjacent to Engels, all of which are...Read More
* GRAPHIC-2019 asset returns: (Adds U.S./China news and closing prices)By Eric OnstadLONDON, Feb 7 (Reuters) - Copper prices eased on Thursday asworries over global economic growth remained to the fore, withaluminium also weakening after a major producer warned aboutsofter demand.Zinc, however, bucked the trend as an environmentalcrackdown in China created shortages of refined metal.A steady drum...Read More
Russian miner Nordgold (LON:NORD) has received a fresh 15-year mining permit for its Lefa mine in Guinea, where it plans to invest more than $360 million to continue developing the asset, one of the country's largest gold producing mines.The new licence, effective from March 21, is valid until 2034, in line with Lefa's current life-of-mine.Nordgold, which spun off of Russian steelmaker Severstal i...Read More
Published 23 Hours AgoUpdated7 Hours AgoReuters Getty ImagesGold prices edged higher on Thursday, helped by concerns over the U.S.-China trade dispute and its potential impact on global growth.Spot gold rose 0.33 percent to $1,310.08 an ounce at 1:10 p.m. ET after touching its lowest since Jan. 29 at $1,302.11.U.S. gold futures were down 0.05 percent at $1,313.80.CNBC reported U.S. President Dona...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average gave up slim gains on Wednesday after closing with gains for three consecutive sessions. The S&P 500 ended a five-day win streak.General Motors Co. (GM) reported stronger-than-expected fourth-quarter earnings and confirmed its 2019 profit outlook. Shares rose 1.6%.Walt Disney Co. (DIS) ...Read More
The Wednesday Market Minute Global stocks drift lower as investors find little detail on trade and policy from President Donald Trump's State of the Union address.European stocks slide as Germany's powerful manufacturing sector sees a slump in industrial orders and luxury carmaker Daimler cites global trade tariffs as operating profits fall 22%.Oil prices retreat as the dollar rides modest gains...Read More
By: Dave Kranzler"Our advice is to own as little exposure U.S. equity exposure as your career risk allows." - Martin Tarlie, member of portfolio allocation at Grantham, Mayo, Van Otterloo investment managementThe following is an excerpt from the latest Short Seller's Journal:Economy is worse than policy makers admit publicly - Less than four months ago, the FOMC issued a policy statement tha...Read More
Happy Year of the Pig! This week marks the start of China's Spring Festival, during which an estimated 3 billion trips will be made using the country's massive transportation network of roads and rail. That figure is a slight rise from the same period last year, despite slowing economic growth prompted by trade tensions with the U.S. and a strengthening dollar.Ctrip, China's largest online trave...Read More