Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
It felt like a mountain of supply sitting on stocks last week, growing more ponderous by the day. By Thursday the broad averages were too fatigued to achieve even minor 'Hidden Pivot' rally targets, the still-feisty FAANGs too subdued to help. Of course, just because the market looked punk on a given day does not preclude the possibility that, come the next, traders will conveniently forget what...Read More
If crude oil rises over $10 by month and floats over $72 (brent), then there will be renewed fears of global recession. Right now, I believe most of the global slowdown related news has been discounted in by the markets. The pace of rise of crude oil will determine recession or growth or slowdown. Energy prices ? inflation determination? Interest rate cycle. There are host of other factors which...Read More
Although the financial media conflates the two, there is a difference between a rally and a bull market. A rally implies a rebound after or a reprieve from weakness. A bull market is higher highs and higher lows for a period of at least a few years.Gold’s strength in the 2000s was not a rally, as many have deemed it, but a bull market. Gold’s rebound in 2016 was a rally. Nevermind the...Read More
We called the move from $4.75 to $2.90 in Natural Gas, and our predictive modeling solutions are suggesting a new upside rally in price is setting up for early Spring.Very cold weather across the Northwest and Eastern US, as well as moderate demand globally, should prompt a renewed rally in Natural Gas through at least March or April of 2019. A move to, or above, $3.30~$3.40 would indicate there i...Read More
Every thing has a cyclical manner, some more than others. And when price and the cycle runs together, it great to be in it for the ride! Of course fundamentals are the reason for a price move, yet the laws of nature seems to co ordinate fundamentals, price and time together, hence the outcome can be seen via a sine wave cycle.If you use some math called 'Bartels' (more here) you can scan many...Read More
From 2019, Chinese central government regulators will begin a new round of environmental protection inspections in the country's metals and mining industry, which will take about four years to complete.The affected regions include all 31 provinces - including districts and cities - in China that were included in an earlier round of environmental inspections that took place over the past three year...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 9, although the European Commission's recent proposal for 2019 steel import tariffs has removed some of the uncertainty in the market. Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($618-641) per tonne delivered on Wednesday, with no new deals reporte...Read More
CVNA's mini rally in 2019 has encountered resistanceThe shares of Carvana Co (NYSE:CVNA) are down 6.2% to trade at $34.47 today, after Morgan Stanley initiated coverage on the car-selling platform with an "underweight" rating and price target of $23. The analyst in coverage predicts a decline in used car sales this year, and believes there's limited growth potential ahead for the company. The...Read More
Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More
The DJI is set for its second straight day in the redThe Dow Jones Industrial Average (DJI) is looking to log its second straight loss today, with traders feeling wary ahead of earnings season -- down over 130 points at midday. Weak export data out of China is fueling concerns about the health of the global economy, while at home traders are grappling with the longest government shutdown ever. Mea...Read More
The brokerage firm cited weak average selling prices for NAND and DRAMThe shares of Micron Technology, Inc. (NASDAQ:MU) are down 4.6% at $34.35, after Morgan Stanley cut its full-year earnings estimate for the chipmaker, citing weak NAND and DRAM prices. Analyst Joseph Moore now sees Micron reporting current-quarter earnings of $1.52 per share, and a 2019 profit of $6.83 per share -- the second lo...Read More
JPM has closed lower the day after earnings in six of the last eight quartersEarnings season gets underway this week, with several big-cap financial names set to report. Citigroup (C) took its turn in the earnings confessional bright and early this morning, unveiling a sharp drop in fixed-income trading revenue. While C stock was last seen trading higher, sector peer JPMorgan Chase & Co. (NYSE:JPM...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12January 14, 2019 "If everybody is thinking alike, then somebody isn't thinking." General George S. Patton, U.S. Army field commander, WW2, 1885-1945 "There are two kinds of people that lose money: those...Read More
StrengthsThe best performing metal this week was palladium, up 1.71 percent, and now the most expensive precious metal. Gold, meanwhile, is set for its fourth weekly gain, marking its longest rally since October. Traders surveyed by Bloomberg are bullish on the yellow metal for a ninth straight week. In December, China added to its gold reserves for the first time since October 2016, according t...Read More
By: Keith Weiner, Monetary MetalsFor years, people blamed the global financial crisis on greed. Doesn't this make you want to scream out, "what, were people not greedy in 2007 or 1997??" Greed utterly fails to explain the phenomenon. It merely serves to reinforce a previously-held belief. Far be it from us to challenge previously-held beliefs (OK, OK, we may engage in some sacred-ox-goring from...Read More
Shaky ChinaBrexit BreakageHelpless EuropeDC, Back to Dorado, more Florida, and Boca RatonFor a couple of years now, the economic narrative has shown a comparatively strong US against weakness in Europe and some of Asia (NOT China). The US, we are told, will stay on top. I agree with that, as far as it goes... but I'm not convinced the "top" will be so great.Americans like to think we are insulat...Read More
Jan. 11th, 2019(S14-E678)Featured GuestsCEO Kenneth Lewis& John WilliamsShow HighlightsOneGold Inc. holds physical gold and silver metals at the Royal Canadian Mint through our friends at APMEX and Sprott Inc.The first online marketplace to offer secure and convenient buying, selling and redemption of digital PMs.OneGold uses VaultChain, a secure, immutable blockchain ledger from Tradewind M...Read More
By: Jordan Roy-Byrne CMT, MFTAAlthough the financial media conflates the two, there is a difference between a rally and a bull market.A rally implies a rebound after or a reprieve from weakness. A bull market is higher highs and higher lows for a period of at least a few years.Gold's strength in the 2000s was not a rally, as many have deemed it, but a bull market. Gold's rebound in 2016 was a...Read More
By: Larry LaBordeWe just returned home from a trip to France and my head is still trying to sort everything out. The Yellow Vests were protesting across the country but most of the press concerning them was from Paris. We spent a week in southern France where most of the police were sympathetic to the protestors. Outside Paris the Yellow Vests opened toll booth gates (no tolls today!) and...Read More
Wall Street is overwhelmingly bearish on SnapSocial media name Snap Inc (NYSE:SNAP) received some rare upbeat attention from the analyst community this morning. Citigroup upgraded its opinion on the security to "neutral" from "sell" and lifted its price target to $7 from $6, listing a number of potential positives for the company. To be more specific, Citi is expecting a new version of the Snapcha...Read More