(Updates with closing prices)By Peter HobsonLONDON, Oct 17 (Reuters) - Copper prices held steady onWednesday as better than forecast Chinese lending datasignalling solid economic growth in the world's biggest metalsconsumer was offset by signs that a supply squeeze in China wasreceding.Aluminium meanwhile fell after a second day of large inflowsof metal into London Metal Exchange warehouses."...Read More
MOSCOW, Oct 17 (Reuters) - The Russian rouble eased onWednesday as strong U.S. industrial production data boosted theU.S. dollar and investors' confidence in dollar assets.At 0743 GMT, the rouble was 0.2 percent weaker against thedollar at 65.45 and had lost 0.06 percent totrade at 75.66 versus the euro.As data showed that U.S. industrial production increased fora fourth straight month in Septembe...Read More
JOHANNESBURG, Oct 17 (Reuters) - South Africa's randweakened in early trade on Wednesday as the dollar strengthenedagainst most major peers, with the market awaiting domesticretail sales figures and minutes from the U.S. Federal Reserve'slatest policy meeting. * At 0614 GMT, the rand traded at 14.2150 perdollar,0.32 percent weaker than its New York close on Tuesday. * "Current levels are like...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose sharply on Tuesday after slipping in four out of the past five sessions.Goldman Sachs Group Inc.'s (GS) third-quarter earnings of $6.28 a share handily beat analysts' estimates. Walmart Inc. (WMT) , the world's largest retailer, lowered earnings guidance for 2019 following its&n...Read More
The Tuesday Market Minute Global stocks edge cautiously higher, but Saudi tensions, weak China data keep a lid on gains as U.S. earnings season kicks into high gearSecretary Pompeo arrives in Riyadh to meet with King Salman amid reports that Saudi Arabia may admit some responsibility for the disappearance of prominent journalist Jamal KhashoggiChina stocks fall into bear market territory ahead o...Read More
* Asia stocks register modest gains * Spot gold may fall into $1,208-$1,217/oz range -technicals (Updates prices, adds quotes)By Vijaykumar VedalaBENGALURU, Oct 16 (Reuters) - Gold prices held steady onTuesday near last session's 2-1/2-month high as risk-averseinvestors sought refuge in the metal amid rising politicaltensions and economic uncertainty.Spot gold was little changed at $1,226.71 an ou...Read More
Bob Moriarty ArchivesOct 17, 2018Amazing Energy (AMAZ-OTCQX) holds rights to over 70,000 acres in the Permian Basin. Recently theyreleased results from drilling and completion of their #30 well. The market yawned at the results going from $.225 to a blistering $.2384, almost up 6% in ten days. Volume in the shares requires a reservation two weeks in advance in order to buy or sell a $1000 position...Read More
CloseGain/LossGold $1223.80-$1.10Silver$14.63-$0.03XAU69.86-0.35%HUI155.23-0.06%GDM554.76-0.52%JSE Gold1190.39-23.73USD95.58+0.52Euro115.05-0.76Yen89.35-0.03Oil$69.75-$2.1710-Year3.191%+0.034T-Bond137.90625-0.59375Dow25706.68-0.36%Nasdaq7642.70-0.04%S&P2809.21-0.03% The Metals: Gold dipped $4.20 to $1220.70 in Asia before it climbed up to $1229.50 by late morning in New Y...Read More
By Ira EpsteinGold gives ground to Fed Minutes.https://www.iraepstein.com/ Read More
The Bank for International Settlements has just published its September statement of account, giving summary information on its use of gold swaps and other gold-related derivatives in that month: https://www.bis.org/banking/balsheet/statofacc180930.pdf The information provided in BIS monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps...Read More
By Frank HolmesYou've likely seen the reports: A whopping 44 percent of Americans wouldn't be able to afford a $400 emergency expense without borrowing it or selling something. That's according to the Federal Reserve's findings in 2017. And earlier this year, financial services firm Bankrate reported that only 39 percent of Americans would be able to pay off an unexpected expense of $1,000 from...Read More
I chimed in on the capriciousness of copper in the late spring (Mercenary Musing, May 28, 2018). Since then, copper prices hit a 3.5 year high at $3.29/lb in early June but then lagged over the summer months. Weakness continues unabated with Friday's close at $2.86 equating to a 13% loss from its ephemeral high in June: The downtick has occurred despite strong fundamentals: ?...Read More
By Stefan GleasonIs the Trump agenda in peril? It's a question investors should consider ahead of the mid-term elections.Up to now, the Trump economic agenda has certainly been great for Wall Street and much of the broader economy. The Dow Jones Industrials continues to defy all naysayers - notching yet another new record high in the first week of October before correcting.Meanwhile, the latest...Read More
Ah, Saudi Arabia, land of heat and contradictions. One day they're jailing women's rights activists for wanting to drive, the next day they're dismembering still-living Washington Post journalists. And yet they can count the world's capitalist democracies as friends, because today's dysfunctional economic/geopolitical system depends on both Saudi oil and Saudi willingness to help keep their (app...Read More
By Craig Hemke The mainstream media is shocked today to report that the U.S. federal deficit increased to $779B in fiscal 2018. This despite the fact that all of this was projected back in February. And we wrote about it back in February too. Here's the link: https://www.sprottmoney.com/Blog/total-us-debt-and... It was back then that the Office of Management and Budget first proposed that the t...Read More
Gold miners completed the inverse head-and-shoulders pattern - it's now a fact. And many analysts would have one believe that it's the only fact that matters right now or that it's of major importance. But just like focusing on one tree can make one miss the entire forest behind it, the above could make the entire precious metals outlook appear different than it really is. There are multiple fac...Read More
Today's topic: the U.S. Equity Market"The business cycle backdrop and financial conditions still look very positive for the U.S. equity market; however, some measures of market breadth are showing weakness and are not far from levels that are historically consistent with major market tops...."We invite you to download a copy of the chart book (PDF); or to view the video: Read More
By Avi GilburtWhen the market, represented by SPDR Gold Trust (NYSEARCA:GLD), broke down below 117.40, and then followed below the next support in the 114 region, we were hyper-focused on the 109 region. Thus far, that is where GLD has bottomed out (in overnight action). From there, we were expecting a rally, and the market has not disappointed.For the last two weeks, I have been outlining how...Read More
- "Large challenges loom for the global economy to prevent a second Great Depression" warn IMF- Massive government debts and eroded fiscal buffers since 2008 suggest global dominos await a single market crash- 2008 crisis measures cast long, dark "terrifying" shadowby William Pesek via Asia TimesIs another "Great Depression" on the horizon?It would be easier to dismiss these words from Nourie...Read More