The provisional data from precious metals consultancy GFMS and bank dealers showed that India’s gold imports dropped a quarter from a year ago to 63 tonnes last month, Reuters reports. The decline in India’s gold imports can be attributed to higher prices, which dented the demand in the world’s second largest yellow metal consumer. Key Highlights: Lower gold imports could al...Read More
Trade war fears have boosted gold price as expected, confirming a short-term bottom, although only a convincing break above the key trendline resistance would allow a sustained a rally to $1,366 (Jan. 25 high) and above. Daily chart Last Thursday's long-tailed Doji candle followed by a violation of the falling top pattern (marked by descending trendline) and a rise to $1,340 yesterday s...Read More
Jack ChanPosted Mar 06, 2018GLD – on sell signal.***SLV – on sell signal.***GDX – on sell signal.***XGD.TO – on sell signal.***CEF – on sell signal.***GDXJ – on sell signal.***Speculation is in bull market values.Data is supportive for overall higher prices.This is a massive bottoming pattern four years in the making.SummaryLong term – on major buy signal....Read More
Europe proposes retaliatory tariffs on U.S.; euro advancesNorth Korea open to denuclearization; Treasuries flatAnne Lester Says JPMorgan Is 'Staying the Course' With Market StrategiesU.S. stocks rose for a third day as signs mounted that President Donald Trump may still be assessing the most severe protectionist policies. The dollar declined against peers.The S&P 500 advanced as comments by th...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose 1.4% on Monday, putting an end to a losing streak of four consecutive sessions.The Dow fell 166 points at its low Tuesday, putting the index briefly in negative territory for the year.The Nasdaq was higher for a third straight day. Wall Street Overview Stocks finished slightly higher on Tuesday, March 6...Read More
U.S. stocks are poised for a second consecutive session of gains Tuesday as investors piled back into equity markets as lawmakers in the United States urged President Trump to dial-back his trade war rhetoric and reports that North Korea is willing to accept denuclearization if Kim Jong Un's regime can be guaranteed safety. Futures contracts tied to the Dow Jones Industrial Average were mar...Read More
The Fed says incessantly that “price stability” is part of their dual mandate and they are committed to maintaining the purchasing power of the dollar. But the Fed has a funny definition of price stability.Common sense says price stability should be zero inflation and zero deflation. A dollar five years from now should have the same purchasing power as a dollar today. Of course, this p...Read More
Is Trump backing down on tariffs?His proposal sent the Dow Jones 420 points lower last Thursday.This weekend, the president pledged he's "not backing down."How did markets react yesterday?As if Trump will back down - or at least back off.The Dow ended the day 337 points higher.The S&P gained 30 points; the Nasdaq, 73.Among the day's biggest winners were Boeing, Harley-Davidson and Caterpillar....Read More
It sounds like a bad science fiction movie.Somewhere, in the near future, all citizens will be stamped with unique 12-digit numbers.The numbers, assigned by the government and major financial powers, are for the sole purpose of tracking the citizens like bar-coded products.Throughout their lives, new information is entered into a universal database that hooks into these numbers - giving the ruling...Read More
Cronos Group, one of Canada's largest medical marijuana companies, began trading last Tuesday on the Nasdaq.This marks the first time ever a pot company's stock is as easy to buy as Coca-Cola, GE or Apple.“We’re the only pure-play marijuana company” on a U.S. exchange, says Cronos CEO Mike Gorenstein in a CNN report.And a Nasdaq listing should quell any fears of legal implication...Read More
Rolling Stone journalist and Griftopia author Matt Taibbi famously called Goldman Sachs a "great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."But what if this generation's biggest blood-sucker isn't Wall Street's evil banks, but the world's most prolific e-commerce company?Look no further than everyone's favorite nex...Read More
"Frankly, the United States is under attack."That's Director of national intelligence Dan Coats' assessment to the Senate Intelligence Committee last month.According to Coats, we're under threat of cyberattack from not just Russia and China, but Iran and North Korea, too.Russia wants to subvert our democracy and undermine our society. A weak and divided opponent is easier to deal with.China's not...Read More
A great trading market in 2017, and so far in 2018, and the equities are more volatile than the bullion.Leveraged ETN products are intraday trading products.NUGT and JNUG for the rallies.DUST and JDST for the dips.Use the profits to load up on bullion.Gold and the dollar have been like frick and frack over recent months as the prices of the currency and the metal have been moving in opposite direc...Read More
Global risk escalates once again as geopolitical concerns reemerge.The threat of a global trade war could derail the positive global growth outlook for 2018.The outcome of the Italian elections will create renewed policy tension between Rome and Brussels.Gold and gold equities continue to play a vital part of any portfolio, serving as a form of portfolio insurance.Downside risks to gold from risin...Read More
Bitcoin is often compared to gold, and for good reason.Gold and Bitcoin share many similar properties, but where gold lacks, Bitcoin seems to excel.Wait, that's not all, there's more good news.If Bitcoin becomes the "new gold" its price could go a lot higher.Source: CoinSpeaker.com Bitcoin: The New Gold Bitcoin (COIN), (OTCQX:GBTC) is often compared to gold, some people even refe...Read More
Investing.com - Gold prices edged higher on Tuesday, as sentiment on the greenback remained vulnerable amid uncertainty surrounding U.S. tariffs on steel and aluminum imports as well as elections in Italy.Comex gold futures were up 0.20% at $1,322.5 a troy ounce by 02:40 a.m. ET (06:40 GMT).Investors were cautious as U.S. President Donald Trump faced growing pressure to pull back from proposed ste...Read More
CloseGain/LossGold $1325.20-$8.50Silver$16.48-$0.26XAU78.79-2.48%HUI173.41-2.50%GDM605.87-1.64%JSE Gold1138.24-1.85USD89.58-0.04Euro124.13+0.03Yen94.35+0.09Oil$61.15-$1.4510-Year2.882%-0.002T-Bond144.125-0.28125Dow24801.36-0.33%Nasdaq7396.65+0.33%S&P2726.80-0.05% The Metals: Gold fell $10.90 to $1322.80 in early afternoon New York trade before it edged back higher into the close, but it st...Read More
By Graham Summers The financial media is awash with claims that Gary Cohn's resignation as Chief Economic Advisor is triggering a market collapse. While it's true that a market collapse is starting again, it has nothing to do with Gary Cohn. How do I know? Because Gary Cohn first wrote a resignation letter back in August 2017 in the wake of the Charlottesville mess... and stocks exploded hig...Read More
David Stockman on "Mornings with Maria" (Fox Business, March 7, 2018)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the aut...Read More
By Jordan Roy-Byrne CMT, MFTA The precious metals sector continues to correct and consolidate. Gold remains in a bullish consolidation. It recently reached resistance again and even though it has failed to breakout, it remains above long-term moving averages which are sloping upward. However, the gold stocks and Silver remain in correction mode. They are trading below the long-term moving avera...Read More