The odds of a contrarian buy signal for gold are even more remote today than they were six weeks ago. Mid-March, you may recall, was when I last devoted a column to analyzing gold-market sentiment. Bullion at the time was trading around $1,320 ounce, and I concluded that gold market timers were not exhibiting "the widespread despair and pessimism that typically precede tradable gold rallies." Gold...Read More
* Dollar index retreats from 3-month peak * Palladium resumes slide after Monday's 5 pct drop * GRAPHIC-2018 asset returns: (Recasts; updates prices, headline; adds comment, byline, NEWYORK to dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, April 24 (Reuters) - Gold prices gainedafter three days of losses on Tuesday as the dollar retreatedfrom an earlier three-month peak and U.S. equiti...Read More
Canada's Centerra Gold (TSX:CG) has rejected an unsolicited bid for its Kumtor gold mine in Kyrgyzstan from Chaarat Gold Holdings (LON:CGH), received last month, but which the London-listed miner made public on Tuesday.Responding to media speculation, Chaarat confirmed its offer to Centerra to buy Kyrgyzstan's largest gold mine, and though it did not disclosed the sum, said the deal would also in...Read More
Canada's Centerra Gold (TSX:CG) has rejected an unsolicited bid for its Kumtor gold mine in Kyrgyzstan from Chaarat Gold Holdings (LON:CGH), received last month, but which the London-listed miner made public on Tuesday.Responding to media speculation, Chaarat confirmed its offer to Centerra to buy Kyrgyzstan's largest gold mine, and though it did not disclosed the sum, said the deal would also in...Read More
Anglo American (LON:AAL) won't resume production at its massive Minas Rio in Brazil until the fourth quarter of 2018 due to two pipeline leaks that forced it to halt operations in March, and which will cause the miner an annual group earnings (EBITDA) loss of $300 to $400 million.The announcement is the last of a string of difficulties Anglo has faced with the mine, which was expected to produce...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average has traded lower for four straight sessions.The Dow remains more than 2,100 points below its all-time high of 26,616 set on Jan. 26.The Nasdaq finished lower Monday after having declined for two straight sessions. Wall Street Overview Stocks finished lower on Monday, April 23 as benchmark 10-year Tre...Read More
SHANGHAI, Apr 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rose for five consecutive days to a seven-week high and towards 91 overnight as the US 10-year treasury yield inched closer to 3% and as the market raised their anticipation of four interest rates hikes this year. A cooler US-China trade tension also hel...Read More
The U.S. Treasury announced it was softening its stance on Russian oligarch Oleg Deripaska's United Co. Rusal, a move that sent aluminum prices plunging Monday. The Treasury said in a statement early Monday, April 23, that it will provide sanction relief to Rusal if Deripaska agrees to cede control of the aluminum producer. In the same statement, the U.S. extended the deadline for companies...Read More
One Stat You Need to Know The concerns over 10-year yields passing 3% should be balanced with strength in Corporate America. First quarter earnings have seen 83% of companies beating profit estimates, the best ratio in more than two years according to Fundstrat's Tom Lee. Profits are tracking up 20% year-over-year, led by technology, materials, energy and financials. Via @BrianSozzi Market...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comApr 24, 2018The thrill of victory and the agony of defeat. Gold investors focused on the Western markets and government debt fear trade tend to feel the same kinds of thrills and agony that professional athletes regularly experience.Here’s a good example: For a few days, silver soar...Read More
CloseGain/LossGold $1331.50+$6.50Silver$16.73+$0.10XAU83.28+0.03%HUI182.38+1.40%GDM633.15+0.87%JSE Gold1112.83+2.36USD90.77-0.16Euro122.37+0.29Yen92.13+0.04Oil$67.70-$0.9410-Year2.992%+0.017T-Bond142.50-0.46875Dow24024.13-1.74%Nasdaq7007.35-1.70%S&P2634.56-1.34% The Metals: Gold gained $3.50 to $1328.50 in Asia before it fell back to $1323.50 in London, but it then climbe...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
By David SmithA cursory look at Chinese history can convince you that China should not be underestimated when it sets its sights on a particular goal.Even before Mao Zedong took over the reins in 1949, and the first Five Year Plan began in 1953, centuries of history demonstrated that long-term planning, while not always meeting expectations, is a core behavioral trait of the Chinese psyche.And m...Read More
Graceland Updates By Stewart Thomson 1. The thrill of victory and the agony of defeat. Gold investors focused on the Western markets and government debt fear trade tend to feel the same kinds of thrills and agony that professional athletes regularly experience.2. Here's a good example: For a few days, silver soars higher on what appears to be the guaranteed start of a long-term...Read More
Karl Denninger is an American technology businessman, finance blogger, and political activist, sometimes referred to as a founding member of the Tea Party movement. His website is The Market Ticker. Read More
Bob Moriarty of 321 Gold discusses Bonterra's latest gold recovery tests. The value of gold as an insurance policy grows with each passing day. The idiots in Washington, London and Paris known well for their gnashing of teeth and wailing while generating gallons of crocodile tears over a false flag attack in Syria are rolling the dice on a game of World War III. And while that's not going to be a...Read More
Jim Willie is a statistical analyst in marketing research and retail forecasting. He holds a PhD in Statistics, and his career has stretched over 25 years. He aspires to thrive in the financial editor world, unencumbered by the limitations of economic credentials. Jim operates a free website called Golden Jackass.Read More
By Frank Holmes Since the commodities supercycle began unwinding 10 years ago, many investors have been waiting for the right conditions to trigger mean reversion and lift prices. I believe those conditions are either firmly in place right now or, at the very least, in their early stages. Among them are factors I've discussed at length elsewhere a weaker U.S. dollar, a steadily flattening yield...Read More
CloseGain/LossGold $1331.50+$6.50Silver$16.73+$0.10XAU83.28+0.03%HUI182.38+1.40%GDM633.15+0.87%JSE Gold1112.83+2.36USD90.77-0.16Euro122.37+0.29Yen92.13+0.04Oil$67.70-$0.9410-Year2.992%+0.017T-Bond142.50-0.46875Dow24024.13-1.74%Nasdaq7007.35-1.70%S&P2634.56-1.34% The Metals: Gold gained $3.50 to $1328.50 in Asia before it fell back to $1323.50 in London, but it then climbe...Read More
Breaking News! North Korea has agreed todenuclearization. Great! But what does it mean for the gold market? And… why isthis not true? Gold StartsWeek BadlyThe yellow metal struggled on Monday. Its pricedeclined from $1,335 to $1,320, or more than 1.1. percent, as one can see inthe chart below. Chart 1: Gold prices from April 20 to April 23, 2018.The weakness could be caused by many factors....Read More