So many patterns that have held for decades seem to have broken down, leading to one of two conclusions: Either this time really is different in ways thatContinue...Read More
Technical analyst Clive Maund charts a gold explorer that he believes has the "potential to take off higher suddenly on positive drill results."Golden Ridge Resources Ltd. (GLDN:TSX.V) looks like an interesting gold-silver play here for more speculative readers. On its latest 6-month chart we can see that it appears to be in a basing pattern so far this year after losing two-thirds of its value fr...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort234,43166,48382,713161,604350,414478,748499,610Change from Prior Reporting Period -11,1564,71919,9028,183-7,91016,92916,711Traders17874884957262192 Small Speculators LongShortOpen Interest 48,01427,152526,762 1,7331,95118,662 non reportable positionsChange from the previous repor...Read More
Gold and silver fell on uncertainty in global financial markets. The USA is trying to blackmail South Korea over trade tariffs by saying that it will roll back military support. Black mailing will not work with South Korea. The USA needs South Korea as an ally MORE than the other way around. USA/NATO now wants to command the South China Sea and the Indian Ocean due to the mineral wealth under th...Read More
Although the probability of a rate hike at the conclusion of this month's FOMC meeting next week is extremely high, traders, analysts, and investors continue to have a wait-and-see attitude. The countdown clock on the CME's FedWatch tool currently reads: 4 days, 19 hours, 9 minutes and counting, as of 3:51 PM Eastern standard time today. Currently, the probability that the Fed will announce a rate...Read More
A report made public today by the Associated Press reveals that an internal accounting of the claims submitted to the EPA in connection to the Gold King mine spill appears to be off by $100 million.Under an open records request, AP obtained a spreadsheet from the U.S. Environmental Protection Agency that shows that the claims for economic losses and personal injuries from the 2015 spill totalled m...Read More
Financial stocks tipped the scales in the bulls' favorAfter trading on both sides of the coin throughout the day, the Dow ultimately closed modestly higher. The blue-chip index was powered by upbeat economic data, as well as a rally in financial stocks, which helped to offset reports of more personnel changes in the Trump administration. The S&P and Nasdaq were also able to finish in the black to...Read More
The greenback is strong on Friday with industrial data, JOLTS and Michigan sentiment index. Gold bulls might be running out steam as they get tired to defend 1310. Gold is trading at around 1311.50 down 0.22% on Friday despite mounting hostilities over the attempted murder of a former Russian spy on the UK soil, which triggered geopolitical uncertainties. The precious metal fell to 2-week lows v...Read More
(Reuters) - The S&P and Dow Industrials rose on Friday as strong U.S. industrial output numbers boosted stocks across sectors, though equities were on track for overall losses this week.February industrial production jumped 1.1 percent, the largest increase in four months.Energy .SPNY led the major sectors of the S&P 500 with a 0.9 percent gain, as oil prices rose by more than a dollar.&ld...Read More
NEW YORK (Reuters) - The dollar rose against most currencies on Friday, bolstered by solid U.S. economic data that further supported consensus expectations that the Federal Reserve will raise interest rates at next week’s monetary policy meeting.“The gains in the dollar were a positive reaction to the data,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange...Read More
Contrarians, who weren't surprised by gold's weakness in recent sessions, believe bullion will continue to suffer. That's because there still isn't the widespread despair and pessimism that typically precede tradable gold rallies. That despite gold's GCJ8, -0.11% disappointing performance during the stock market's recent correction; bullion is down 4% since its late January high - including anoth...Read More
NEW YORK (Reuters) - Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose and investors covered short bets ahead of a weekend in which the U.S. news program “60 Minutes” will air an interview with Saudi Arabia’s crown prince.Saudi Crown Prince Mohammed bin Salman will be on “60 Minutes” on Sunday...Read More
NEW YORK (Reuters) - Oil prices rallied on Friday afternoon ahead of a much-anticipated television interview with Saudi Arabia’s crown prince, while Wall Street rose on strong economic data as U.S. stocks tried to end a rocky week on a high note.Crude prices had been on track for a weekly loss, but spiked on Friday, putting oil in position for a gain on the week.Energy investors were looking...Read More
LONDON (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.1/ FED A-HEADThe U.S. Federal Reserve’s first meeting with new head Jerome Powell at the helm takes place on Tuesday and Wednesday and an interest rate rise - this year’s first - is seen as a done deal.Against the backdrop of b...Read More
WASHINGTON (Reuters) - U.S. job openings jumped to a record high in January, but a persistent lag in hiring suggested that employers will probably have to raise wages to attract qualified workers.The monthly Job Openings and Labor Turnover Survey, or JOLTS, released by the Labor Department on Friday underscored labor market strength and supported expectations that the Federal Reserve could raise i...Read More
(Kitco News) - After months of speculation, the big show is almost here and for gold investors, this could be the metal’s chance to break free. That’s right, next week the only thing investors are watching is the Federal Reserve’s monetary policy meeting.And according to most analysts, there is no doubt that interest rates are moving higher. Markets see a 25-basis point hike as...Read More
(Kitco News)- Silver prices are suffering from lackluster investor demand, and one research firm is warningthat industry demand could be weaker than many are expected, especially withinthe solar sector.Ina report Thursday, Simona Gambarini, commodities economist at CapitalEconomics, said that her firm is maintaining its bearish forecast on silver,looking for the price to end the year at $15.50 an...Read More
Loop Capital upgraded the retail stock and lifted its price targetLumber Liquidators Holdings Inc (NYSE:LL) has jumped 3.3% to trade at $25.39, after Loop Capital upgraded the retail stock to "buy" from "hold," and boosted its price target to $30 from $22 -- citing expectations for continued growth in both same-store sales and market share. Options traders aren't buying the upside, though, with LL...Read More
BRUSSELS/PARIS (Reuters) - Britain, France and Germany have proposed fresh EU sanctions on Iran over its ballistic missiles and its role in Syria’s war, according to a confidential document, in a bid to persuade Washington to preserve the 2015 nuclear deal with Tehran.The joint paper, seen by Reuters, was sent to European Union capitals on Friday, said two people familiar with the matter, to...Read More
WASHINGTON (Reuters) - U.S. industrial production surged in February, boosted by strong increases in output at factories and mines, but the economic outlook for the first quarter was dimmed by a larger-than-expected plunge in homebuilding last month.The broad-based rise in production likely reflected increased investment spending in the wake of hefty corporate income tax cuts, which came into effe...Read More