Seven of the thirteen gold miners who were trapped underground since Thursday at Sibanye-Stillwater's (JSE:SGL) (NYSE:SBGL) mine in South Africa have died as a result of their injuries, the company confirmed Saturday.The workers got stuck at the company's Masakhane mine, part of the Driefontein operations following a quake that caused a fall of ground in an operating stope.The deaths brings the nu...Read More
Here Are 4 Hot Things to Know About Stocks Right Now The U.S. added 164,000 jobs in April, lower than economists' forecasts. The unemployment rate last month fell to 3.9% from 4.1%. Apple Inc. (AAPL) closed at an all-time high of $183.83 on Friday.Shares of Alibaba Group Holding Ltd. (BABA) rose 3.4% after the Chinese e-commerce giant posted quarterly earnings and revenue toppe...Read More
Adam HamiltonArchivesMay 04, 2018 Gold was enjoying a solid spring rally until a couple weeks ago, nearing major upside breakouts. But its nice advance has crumbled since, really weighing on sentiment. Gold fell victim to a rare major short squeeze in US Dollar Index futures. The surging USDX motivated gold-futures speculators to flee rather aggressively. But this will likely prove a short-lived a...Read More
3 Things in the Markets to Know Right Now TheStreet's May 5 "Investor Boot Camp" conference is coming up, and you won't want to miss it. Quickly register here. Food for thought from Jefferies: The large-cap Russell 2000's price-to-earnings multiple continues to contract and at 16.6 times, is off quite considerably versus the recent peak of 20 times. It stands 7.9% above its long-term a...Read More
The UAE government came under tremendous pressure by the dealers that the VAT was killing their business. The government has responded dropping the VAT (Sales Tax) on gold, diamonds, and precious metals for investors. Taxing such products is, in reality, taxing money the same as if it bought bonds or stocks. Not everyone buys stocks just as not everyone buys gold. Taxing gold and not stocks is a f...Read More
"There's a big problem ahead. There's no doubt about it."Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money...Read More
"The air in all these bubbles has created larger bubbles than we have had before."Nomi Prins is an American author, journalist, and Senior Fellow at Demos. She has worked as a managing director at Goldman-Sachs and as a Senior Managing Director at Bear Stearns, as well as having worked as a senior strategist at Lehman Brothers and analyst at the Chase Manhattan Bank. Prins is known for her books A...Read More
Nomi Prins is an American author, journalist, and Senior Fellow at Demos. She has worked as a managing director at Goldman-Sachs and as a Senior Managing Director at Bear Stearns, as well as having worked as a senior strategist at Lehman Brothers and analyst at the Chase Manhattan Bank. Prins is known for her books All the Presidents' Bankers: The Hidden Alliances that Drive American Power and Col...Read More
The past few months have seen some unusual, maybe even unique, developments in the gold and silver futures markets, with gold becoming extremely bearish and silver almost ridiculously bullish.Continue...Read More
"If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth."Continue...Read More
The past few months have seen some unusual, maybe even unique, developments in the gold and silver futures markets, with gold becoming extremely bearish and silver almost ridiculously bullish. Neither imbalance has amounted to much in terms of price action, so it's not clear whether the most recent changes matter. Still, the action in both gold and silver futures remains unusual enough to bear wat...Read More
Plenty of stupid ideas kill people. But one man's stupid ideas have killed over a hundred million people and ruined the lives of countless others.Continue...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort209,577102,79866,156179,735311,607455,468480,561Change from Prior Reporting Period -16,22713,64011,8024,020-25,908-405-466Traders19586905153288191 Small Speculators LongShortOpen Interest 52,28827,195507,756 1,7511,8121,346 non reportable positionsChange from the previous reporti...Read More
We could be heading for a golden age - or a return to the 1970sBy John Stepek of Money WeekThe cost to the US government of borrowing money for a decade came within sniffing distance of 3% yesterday.The US ten-year Treasury yield is sitting at 2.96% as I write this morning, having got to 2.99% yesterday.Does this really matter? After all, 3% is just another number.On the one hand, you'd be righ...Read More
Tahoe Resources (TSX: THO, NYSE: TAHO) announced this week the end of a strike carried out by 65 per cent of its workforce at the La Arena gold mine since April 22, 2018.Workers were demanding higher profit-sharing payouts. However, the company has said that it addresses such payouts in accordance with the Peruvian labour law. In a press release, the miner said that, following an agreement with th...Read More
Today's jobs report came in below expectations suggesting that the Federal Reserve will not raise interest rates aggressively while maintaining a tightening of its monetary policy. This, along with renewed concern about a looming trade dispute between the United States and China, was supportive of gold pricing. According to Business Day, "Senior Chinese and American officials concluded two days of...Read More
The DIVA Museum, an institution created with the idea of highlighting the story behind some of the world's most beautiful diamonds, opened today in Antwerp, the capital city of the Flemish province of the same name located in northern Belgium. Antwerp is known for being home to silversmiths, jewellers and diamond dealers since the sixteenth century, and this new 850 m ?- museum tries to showcase h...Read More
Investors also reacted to another drop in U.S. unemploymentThe Dow soared today, as news that Warren Buffett substantially increased his Apple (AAPL) position sparked a huge move from the tech giant. In fact, shares of the iPhone maker hit an all-time high and closed the week up 13.3% -- the best week in years for AAPL. The broader tech sector rallied as a result, helping the Dow and S&P erase alm...Read More
Diversified miner Anglo American said on Friday it will end its investment in deep sea mining company Nautilus Mining."We are exiting our small minority shareholding in Nautilus, as part of the prioritisation of our portfolio on our largest and greatest potential resource assets," Anglo spokesman James Wyatt-Tilby said, confirming a report in the Financial Times.Anglo has a 4 per cent stake in Tor...Read More
WASHINGTON (Reuters) - The Federal Reserve should continue to raise interest rates in a gradual way and there appears to be no abrupt rise in inflation on the horizon even as price gains have moved toward the central bank’s target, San Francisco Fed President John Williams said on Friday.Williams, who in June is set to become the head of the New York Fed, seen as the second-most influential...Read More