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
Duringthe lackluster and otherwise unremarkable trading of 2018, a hugely importantdevelopment took place in the precious metals markets. Gold production, in theestimation of some top industry insiders, peaked.Peak goldrepresents the point at which the total number of ounces being pulled out ofthe ground by miners reaches a maximum.Itdoesn’t necessarily mean gold production will suffer a pre...Read More
Blue-chip Walt Disney will also report next weekEarnings season continues with FAANG member Alphabet (GOOG) entering the earnings confessional, as well as social media heavyweights Snap (SNAP) and Twitter (TWTR). Dow member Walt Disney (DIS) will also report earnings next week. Outside of earnings, Fed Chair Jerome Powell will garner attention a week after the central bank suggestedit could alter...Read More
As the stock market cracked on October 10th we noted…Looks Who’s Holding Firm Amid the Carnage; the Gold MinersAnd sure enough the GDX bottoming pattern noted in that post (and before that in an NFTRH subscriber update) played out perfectly amid the stock market carnage going on all around it.Was I trying to predict something? Of course not. I was just following general rules we&rsquo...Read More
History says beware one blue chip before earningsWhile the broader S&P 500 Index (SPX) is on pace for its best month since October 2015, several stocks could take a breather in February, if past is prologue. Below are the 25 worst stocks to own in the shortest month of the year, looking back 10 years, with Merck & Co, Inc. (NYSE:MRK) at the top of the list ahead of earnings tomorrow.In order to ma...Read More
Big win for the doves! And for gold, as it jumped above $1,320 amid the soft FOMC statement. What’s next?Committee Will Be PatientYesterday, the FOMC published the monetary policy statement from its latest meeting that took place on January 29-30th. In line with the expectations, the US central bank unanimously kept the federal funds rate unchanged at the target range of 2.25 to 2.50 percent...Read More
The Nasdaq, meanwhile, is set for its best month since 2011The Dow Jones Industrial Average (DJI) is down 78 points at midday -- after being down more than 170 points earlier -- dragged lower by disappointing earnings reports from Microsoft (MSFT) and DowDuPont (DWDP). Intel (INTC) joined the list of stocks at the bottom of the Dow, too, after naming Robert Swanits permanent CEO. The S&P 500 Ind...Read More
One name has explored both sides of breakeven todayB. Riley upgraded Geron Corporation (NASDAQ:GERN) to "buy" from "neutral," and raised its price target to $3.25 from $1.50 -- a 215% premium to last night's close. The analyst in coverage waxed optimistic on the drugmaker's myelofibrosis treatment imetelstat, projecting approval from the Food and Drug Administration (FDA) by 2023, and U.S. sales o...Read More
The company reported fiscal second-quarter revenue that fell shortThe shares of Microsoft Corporation (NASDAQ:MSFT) are down 2.3% at $103.92 -- dragging on the Dow -- after the company reported fiscal second-quarter revenue below analysts' expectations. The company cited a strengthening U.S. dollar, slowing Azure revenue growth, and a personal computing segment revenue miss for the disappointing n...Read More
Silver is currently going for a majorbreakout.Here is a chart I featured months ago: On the chart, thefirst phase of the silver bull market was from 1993 to the end of 2001, and thesecond phase is potentially from 2001 to the end of 2015.It appears that there is a similarity betweenthe two phases. I have drawn some lines, and marked some patterns to show howthey could be similar.The first phase i...Read More
ECB’s meeting is behind us, while the gathering of the Fed officials is ahead of us. In the meantime, the price of gold jumped above $1,300. Will it stay for longer? Slowdown in the Eurozone, but not RecessionOn Thursday, the ECB held its monetary policy meeting. It left the policy on hold. The bank also maintained its forward guidance about the future path of interest rates unchanged (they...Read More
The pig iron export market in the Commonwealth of Independent States (CIS) was confused by the opposing price directions taken by the raw materials and finished steel products markets during the week ended Thursday January 31.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $315-325 per tonne fob Black Sea on January 31, down from $320-330 per tonne a week before."The s...Read More
PFE shares recently came into contact with their 200-day moving averageComing off the company's earnings release on Tuesday, Pfizer Inc. (NYSE:PFE) just received an upgrade to "outperform" from "neutral" at Credit Suisse, which bumped up its price target to $47 from $45. This is overshadowing a minuscule price-target reduction out of Independent Research, from $44 to $43. PFE shares are trading hi...Read More
The brokerage firm downgraded the stock and cut its price targetGoldman Sachs downgraded H & R Block Inc (NYSE:HRB) stock to "sell" from "neutral," and lowered its price target to $22 from $27 -- a discount to last night's close at $25.52. Analyst George Tong said U.S. tax reform and the ending of many promotions this year will likely lead to falling assisted tax volume for the company.In reaction...Read More
The DJI, on the other hand, is lower after DowDuPont earningsU.S. stock futures are trading mixed this morning, coming off of yesterday's Fed-driven rally. While the Dow Jones Industrial Average (DJI) is set for a lower open with DowDuPont (DWDP), the tech-heavy Nasdaq-100 Index (NDX) is eyeing a strong start, as traders applaud Facebook's (FB) strong financial results. General Electric (GE) share...Read More
Base metals prices on the London Metal Exchange were collectively higher day on day at the close of trading on Thursday January 31, with a softer US dollar and improved trade sentiment supporting commodity investment.Copper's three-month price continued on an upward trend throughout afternoon trading, with total volumes topping the complex and more than 18,000 lots changing hands by the close.Pric...Read More
By: Stefan Gleason, Money MetalsDuring the lackluster and otherwise unremarkable trading of 2018, a hugely important development took place in the precious metals markets. Gold production, in the estimation of some top industry insiders, peaked.Peak gold represents the point at which the total number of ounces being pulled out of the ground by miners reaches a maximum.It doesn't necessarily mean...Read More
By: Gary ChristensonGold prices (weekly chart) formed an impressive inverse head and shoulders formation during a five-year base. Gold prices, which bottomed in December 2015, should climb the wall of worry.WHAT WALL OF WORRY?Really? You have to ask? Financial, stock market, debt and political worries come to mind:Global debt is about $250 trillion. The lenders expect to be repaid plus interest....Read More
By: Richard (Rick) Mills Gold markets were rocking on Tuesday, lifted by a basket of factors that included poor stock market performance earlier in the week, slow growth in China, weak earnings reports and expectations the US Federal Reserve would strike a dovish tone at its two-day meeting starting on Tuesday afternoon. The Fed raised interest rates four times in 2018 but some officials have...Read More
By: Gary TanashianAs the stock market cracked on October 10th we noted...Looks Who's Holding Firm Amid the Carnage; the Gold MinersAnd sure enough the GDX bottoming pattern noted in that post (and before that in an NFTRH subscriber update) played out perfectly amid the stock market carnage going on all around it.Was I trying to predict something? Of course not. I was just following general rul...Read More
By: David HaggithFederal Reserve Chair Jerome Powell placed his put in stocks while saying there is none. When he doubled down today on a more dovish approach to the economy, Powell claimed the Fed is not designing interest rates to keep the market climbing. If that is true, recession must be near:Fed delivers a "double-barrel dovish blast" The Fed sees recession dead ahead. You have only that...Read More