"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
WASHINGTON (Reuters) - Dallas Federal Reserve President Robert Kaplan said on Friday that wage pressures are set to rise and that the U.S. central bank should continue to gradually raise interest rates.“My guess is if we look over three to six months, we’ll see some wage pressure,” Kaplan said in an interview with broadcaster CNBC. “I think this may be just a one-month aber...Read More
LONDON (Reuters) - The World Gold Council, owner of the world’s largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters.The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed mana...Read More
(Reuters) - The Trump administration said on Friday it will end temporary protections for immigrants in the United States from Honduras on Jan. 5, 2010, leaving potentially 57,000 people vulnerable to deportation.It is the latest in a series of decisions by President Donald Trump to shut down temporary protected status (TPS) granted to immigrants after natural disasters or violent conflicts that w...Read More
NEW YORK (Reuters) - New York Federal Reserve President William Dudley said on Friday the U.S. economy is on a solid footing with inflation closing in on the central bank’s 2-percent goal, though he was not yet ready to “declare victory” on inflation.“The U.S. economic outlook looks pretty good,” he said at an event “The Financial Tumult of Our Times” spon...Read More
(Bloomberg Opinion) - I try to avoid giving unsolicited advice to billionaires. They are doing just fine without me. Besides, nobody likes to hear from the cheap seats, especially when they just made a terrible, horrible, reckless investing error that poses unnecessary risk and could cost quite literally billions of dollars.I bring this up after I read the headline "This Billionaire Has Put Half...Read More
WASHINGTON (Reuters) - U.S. job growth increased less than expected in April and the unemployment rate dropped to near a 17-1/2-year low of 3.9 percent as some out-of-work Americans left the labor force.The Labor Department’s closely watched employment report on Friday also showed wages barely rose last month, which may ease concerns that inflation pressures are rapidly building up, likely k...Read More
FLR gapped lower after confessing to a surprise quarterly lossU.S. stocks are soaring this afternoon, as Apple's bullish nod from Warren Buffett creates positive buzz. Looking deeper at individual stocks, three that are making huge intraday moves are drug concern Portola Pharmaceuticals Inc (NASDAQ:PTLA), engineering firm Fluor Corporation (NYSE:FLR), and music streaming name Pandora Media Inc...Read More
PALO ALTO, Calif. (Reuters) - The Federal Reserve should raise interest rates twice more this year, though upside potential from tax cuts and new government spending and a “rosy” economic outlook could require a bit more tightening, Atlanta Fed President Raphael Bostic said on Friday.“I’m pretty firmly a three,” Bostic told Reuters in an interview on the sidelines of...Read More
LONDON (Reuters) - The World Gold Council, owner of the world's largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters.The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed management...Read More