Analysts and options traders alike are bullish on SPOTThe shares of Spotify Technology SA (NYSE:SPOT) are down 4.2% to trade at $138.91 this morning, under pressure from news of increased competition in the streaming space. More specifically, on late Friday Billboard reported Amazon.com (AMZN) plans to launch a free, ad-supported music-streaming service. Amazon will be able to market its new offe...Read More
The shares of MKTX and TW have been solid on the chartsFintech stocks MarketAxess Holdings Inc. (NASDAQ:MKTX) and Tradeweb Market Inc (NASDAQ:TW) are in focus this morning after an analyst note out of Rosenblatt Securities. The brokerage firm sees ongoing growth trends for the businesses thanks to expanded electronic trading adoption and analytics capabilities, calling MKTX and TW "unique assets"...Read More
StrengthsThe best performing metal this week was palladium, up 0.24 percent as hedge funds cut bullish positioning to a six-month low, perhaps resetting expectations. Gold traders turned heavily bullish this week after being neutral last week as the Federal Reserve signaled interest rates will be on hold, ac...Read More
Dear Friend of GATA and Gold:Thanks to Zero Hedge for calling attention tonight to the interview of the Zurich-based financial letter The Market with James Grant, editor of Grant's Interest Rate Observer, wherein Grant remarks that the Federal Reserve is manipulating the stock market up and interest rates down. Grant calls the latter rigging "very near to a crime."But as always Grant has nothing...Read More
Investors have thrown caution to the wind as they bid up FAANG stocks to imprudent heights and provide overly generous bids for a few others that face serious jeopardy, including Tesla and Boeing. Even so, the herd evidently had second thoughts about one stock on Friday, pummeling the shares of Netflix when competitor Disney announced a new streaming service that will be bargain priced at $6.99...Read More
CFO Corie Barry will replace Hubert Joly as BBY CEOThe shares of Best Buy Co Inc (NYSE:BBY) are down slightly in early trading after the electronics retailer announced that current Chief Financial Officer (CFO) Corie Barry would take the place of Hubert Joly as CEO. Joly has served as CEO since 2012, and is stepping down to serve as the executive chairman of the company. As a result, BBY stock is...Read More
Citigroup, meanwhile, is higher after earningsDow Jones Industrial Average (DJI) futures are trading below fair value this morning, with the blue-chip index poised to take a breather after Friday's big gains. Bank earnings remain in focus today, with Goldman Sachs (GS) stock lower ahead of the bell after the financial firm reported weaker-than-expected revenue. A quarterly profit beat for Citigrou...Read More
Large speculators have an extreme net short position as the VIX tests 2018's floor"It's hedge funds, who have stubbornly refused to embrace stocks even as global equities added $10 trillion in value over the last three months. At the end of March, their net exposure as measured by the ratio of bullish bets to bearish ones stood near the lowest level in more than a year, client data compiled by JPM...Read More
URGENT PAIR XAU/USD (GOLD): UPTREND 3hr CHART This week gold and wti both will be opposite to each other, while gold buy will start by current level ending with a higher high on the other hand wti will continue to fall from the currrent level one way and remains downside. 1.BUY XAU/USD (GOLD): ENTRY: 1289.07, TARGET: 1303.29/1320.29, SUPPORT: 1276.02 FXStreet Forex Interactive Ch...Read More
Teranga is interested in Barrick's Massawa project in Senegal, which is likely to be put for sale soon.The project is adjacent to Teranga's Sabodala mine, which would allow it to achieve significant synergies.I think that IAMGOLD is also likely to be interested in Massawa, but Teranga has better chances to acquire the project thanks to its cornerstone investor David Mimran. Introduction Barrick Go...Read More
Chinese trading house ASK Resources has moved into the European market, hiring Guillaume Taieb to open an office in Geneva, Switzerland.ASK had a turnover of $900 million in 2018, trading mainly in copper but also in zinc, aluminium and nickel, Taieb said.The...Read More
Yamana Gold sells Chapada mine to Lundin for total consideration of over $1 billion.The company doubles the dividend and announces its intentions to buy back stock.The move comes as part of a general trend of focusing on shareholder returns over growth.Yamana Gold (AUY) has just announced major news: the company is selling its Chapada mine to Lundin (OTCPK:LUNMF) for a total consideration of over...Read More
We are getting some indication that the price as we come into next week is in an area of demand.According to the VC PMI, the gold market is very well supported with last week's low of $1293 activating a reversal back up.We seem to be forming a wedge, a descending wedge or a bear flag, and a breakout from there would confirm a breakout to the upside.Gold Courtesy: TDAmeritrade The price of gold...Read More
The collaboration and integration among nickel miners and battery makers in the electric vehicle (EV) sector will continue to expand, driven by higher margins, according to panelists at Fastmarkets' Battery Materials Conference in Shanghai on Thursday April 11."I think you do see more and more integration in the industry with chemical companies and battery raw material producers, which has been ha...Read More
It was a big surprise. The dovish surprise. In March, Powell doubled down on its accommodative stance. Does he know something we are not aware of? We invite you to read our today’s article about the recent Fed’s U-turn and find out whether it will support the gold prices. Will Powell’s Dovish Turn Support Gold? Three months can make a big difference! In December 2018, the F...Read More
Mayday, mayday,we are sinking! The global economy is slowing down. How serious is the currentslump? We invite you to read our today’s article about the true condition ofthe world’s economy and find out what are its likely implications for theprecious metals market. Economists andmarket analysts often make volte-face. We remember that in 2018 the punditswere heralding the synchronized g...Read More
Movements in base metals prices on the London Metal Exchange were mixed at the close of trading on Monday April 15, with continued weakness in the US dollar index doing little to spur buying activity while low volumes continued to indicate risk-aversion.The three-month nickel price fell to its lowest level since March 28 in the afternoon, dipping to $12,860 per tonne before closing at $12,991 per...Read More
In March, the World Gold Council released the newest edition of its Investment Update. What can we learn from the publication? Let’s examine the most recent history of Fed tightening and loosening with respect to its effect on gold prices.Is Fed’s Dovish Turn Positive for Gold?The WGC has recently published the new Investment Update about the effects of monetary policy on gold. The mai...Read More
Seaborne iron ore prices went through corrections on Monday April 15, while prices for high-grade products remained robust, Fastmarkets has heard.MB 62% Fe Iron Ore Index: $95.42 per tonne cfr Qingdao, down by $1.05 per tonne.MB 62% Fe Pilbara Blend Fines Index: $94.20 per tonne cfr Qingdao, down by $1.54 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.57 per tonne cfr Qingdao, up by $0.25 per...Read More
While so many were getting so bullish of the metals market over the last few months, my work was telling me that we were not likely going to be seeing a major break out just yet. So, I have been waiting patiently for a good set up for another long trade.But, during my wait, I have seen extremes in sentiment again. At the highs, the extremes were quite bullish. And, now, the fear is starting to cre...Read More