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
The CIS export slab market turned around because of deals made at higher prices in the second half of January, Fastmarkets was told on Monday January 21.Reduced availability of slabs as well as an improvement in demand for finished flat steel in the CIS market gave additional support to slab producers.Several cargoes of Ukrainian and Russian slab were reported booked in Europe at prices within the...Read More
Gold prices had been rising in North American and late London trade as the dollar runs into supply. Gold is currently trading at $1,280/oz, down from $1,283/oz and up from $1,276/oz. Initially, the US dollar was favoured by investors at the start of the week following mixed Chinese data which made for assorted sentiment in markets surrounding the outlook for global growth. However, the IMF...Read More
Having watched Van Helsing I thought "There must be a way to work this stuff into chart analysis" and there is, for tomorrow night there is a "Super Blood Wolf Moon Eclipse" which might synchronize with a reversal in the markets. Before you burst out laughing, I point out that it is an established fact that reversals in the Precious Metals often synchronize with full and new moons, and whether t...Read More
The negative effects of trade disputes on global growth this year will push down demand for base metals and steel-making commodities, while the economic uncertainty will drive gold prices higher, CIBC says."CIBC economists are not forecasting a recession in 2019, but we expect increasing trade barriers and tariffs to slow down global growth over the next 18 months, delaying our previously forecast...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12January 21, 2019"Sometimes the best investments are the ones you don't make" Donald Trump, 45th U.S. president, real estate mogul, entrepreneur, b. 1946, Trump: How to Get Rich (2004) "The whole problem...Read More
By Gary TanashianAs in January of 2013 (ahead of an economic up cycle) and Q4 2017-Q1 2018 (ahead of an economic ripple that began in 2018) the Semiconductor sector and in particular its Semi Equipment sub-sector are front and center in forming our analysis about coming events. Excerpted from the January 20th edition of Notes From the Rabbit Hole, NFTRH 535...Semiconductor Sector - Watch the Ear...Read More
By John MauldinDemand Pulled ForwardJob JittersCredit IntensityRushing the ProcessAn Insane Travel ScheduleThe production of souls is more important than the production of tanks.... And therefore I raise my glass to you, writers, the engineers of the human soul.Joseph Stalin, 1932[Our purpose is] to ensure that literature and art fit well into the whole revolutionary machine as a component part,...Read More
Dear Friend of GATA and Gold:Barron's this week has a surprisingly favorable report about the prospects for the gold price and gold miners in light of the recent Newmont-Goldcorp and Barrick-Randgold combinations. But the report repeats without question the worst misinformation about the gold price, quoting a fund manager as saying gold is attractive because "it's an alternative currency whose s...Read More
By Jordan Roy-Byrne CMT, MFTA Last week we discussed the difference between a rally and bull market. Gold stocks have been in a rally. That rally is now over as gold stocks peaked at their 400-day moving averages days ago and sliced through their 200-day moving averages Friday. Take a look at the charts of any gold stock index (GDX, GDXJ, HUI) and it's clear they are in a downtrend. Go b...Read More
By Steve St. AngeloThe U.S. Shale Oil Industry has been a financial trainwreck since day one. And, with nearly $300 billion in public and private debt racked up by the shale industry since its inception, that hasn't stopped investors from throwing good money after bad to continue the biggest energy Ponzi scheme in history.Unfortunately, the worst is still yet to come because the industry hasn...Read More
Investment guru Sam Zell is buying gold for the first time. Zell claims "Supply is shrinking." Please consider Billionaire Sam Zell Buys Gold for First Time in Bet on Tight Supply. Gold’s dimming supply prospects have caught the eye of one billionaire. “For the first time in my life, I bought gold because it is a good hedge,” Sam Zell, the founder of Equity Group...Read More
The Gold Trust ETF has a positive but overbought weekly chart and is above my semiannual pivot at $120.36.The commodities ETF has clawed out of bear market territory and now has a positive weekly chart but below its quarterly pivot at $15.60.The long dollar ETF remains above its "reversion to the mean" at $25.01 with its annual pivot at $25.47.Here are the weekly charts for the gold, commodities a...Read More
Gold is currently trading largely unchanged on the day at $1,282. The yellow metal fell by $12 or 0.8 percent on Friday, confirming a downside break of the two-week long narrowing price range. An extended period of consolidation is often followed by a big move in the direction of the breakout. As a result, gold could soon drop to the support of the trendline connecting the Nov. 13 and Nov. 28 low...Read More
• The precious metal extended last week's bearish break through confluence support and fell to over two-week lows on the first trading day of a new week. • The mentioned support comprised of 4-hourly 100-period SMA and the lower end of a near one-week-old trading range, forming a rectangular chart pattern. • A subsequent b...Read More
The gold mining sector is a highly fragmented industry but is now seeing some aggressive consolidation among the large cap names.In a public market that has massive market caps, the gold miners run the risk of becoming irrelevant.Barrick and Newmont/Goldcorp have lit a pathway and many others will follow, whether they want to or not.It might be worth owning some GG shares for the short term, but I...Read More
• The risk-on mood/positive US bond yields exert some fresh downward pressure. • A subdued USD price action fails to lend any support or ease the bearish pressure. • Absent relevant economic releases might continue to prompt some technical selling. Gold remained under some selling pressure for the third consecutive session and h...Read More
Highland Gold Mining Ltd.'s (HGM.LN) 2018 gold production was within guidance despite lower output from its Novoshirokinskoye mine in Russia, the company said Monday as it raised its forecast for the current year. The miner said it produced 269,500 ounces of gold and gold equivalent for the year, down 1% from 2017 production levels of 272,274 ounces. Highland had forecast 2018 gold production in t...Read More
Gold price started a major downside correction from well above the $1,295 level against the US Dollar. The price declined and broke the $1,292 and $1,290 and $1,285 support levels on FXOpen. During the decline, there was a break below a major bullish trend line with support at $1,291 on the hourly chart. Finally, there was a close below the $1,285 support and the 50 hourly simple moving average....Read More
Is gold ready to break down? Risk Warning for Financial Promotions Hantec Markets' various market reports and commentary are issued by Hantec Markets Limited, who is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, No. 502635. The reports are prepared and distributed for information purposes only. Trading in Foreign Exchange (FX), Bullion and Contra...Read More
The base metals complex showed mixed results in afternoon trading on Monday January 21, with London Metal Exchange-three month prices for copper, aluminium and nickel failing to live up to last week's universal closing rally.The focus of the market remains on China's fourth-quarter data, which showed a further slowing of the economy at the end of 2018, with gross domestic product (GDP) growing by...Read More