The bull market has gone vertical, suggesting stocks are in a blowoff phase. Where will it end? We'll hazard a guess simply because it's irresistible fun, and because one of these days we're going to get it right. Let me therefore offer 2953.50 for the June contract, or 2974.25 if any higher. Both seem likely to show stopping power, even if equally compelling rally targets got bulldozed on...Read More
By: Ira EpsteinDaily gold market showing it falling apart...Read More
I believe that the fall in gold prices is good for gold jewelry demand in Asia. Prices are still very high in my view all over Asia. The more the correction in Asian gold prices, the more the demand in Asia. There will be a slight dip in gold demand around 6th May in Islamic nations as the fasting month of Ramadan begins. The factors driving down gold are the same (a) Positive view on global e...Read More
Link to the Slides and Sources: https://www.itmtrading.com/blog/monet...In my opinion, the chart on Monetary Velocity from the Federal Reserve, is the most important chart because it can give us the early warning of hyperinflation. I say this because it's really a measure of the speed that money changes hands and how many hands the same money passes through. In this way, it's a gauge of inflation,...Read More
"As costs go up and debt levels go up, then lowering interest rates gives you a little leeway, but only for awhile."Charles Hugh Smith writes the Of Two Minds blog which covers an eclectic range of timely topics: finance, housing, Asia, energy, long-term trends, social issues, health/diet/fitness and sustainability. From its humble beginnings in May 2005, Of Two Minds now attracts some 200,000 vis...Read More
Every so often, our work in the premium side of PeakProsperity.com is deemed so important that our paying subscribers request we share it with the general public. Last week's 'Off The Cuff' podcast received so many of these requests that we are releasing it to all here.In last week's Off The Cuff podcast, Chris delivered a very personal message about how we each decide to live our lives.A growing...Read More
Key data from the Wednesday April 24 pricing session in Europe.Key drivers The European ferro-titanium and titanium scrap markets were steady in the week to Wednesday April 24, consolidating gains made early last week, when Fastmarkets reported news of a production stoppage at UK producer FE Mottram after a fire at the company's plant in Sheffield. Alloy prices were expected to move higher in the...Read More
Toronto-based Maritime Resources Corp. has begun infill drilling at its Hammerdown gold project 15 km northwest of Springdale. About 3,000 metres of drilling is planned in 19 holes designed to convert inferred to measured and indicated resources. The pre-feasibility study is to be updated late this year.Maritime is also planning a 2,000-metre drill program and geophysical survey to test the depth...Read More
South Africa's labour registrar said he intended to de-register the militant AMCU trade union for breaking rules on how unions should operate, a move which could reshape the balance of power on the country's platinum belt.The Association of Mineworkers and Construction Union (AMCU), one of the largest trade unions in South Africa's mining sector, has thousands of members at mines operated by compa...Read More
The focus of the anti-Trump forces has shifted. Trump was not removed from office as his opponents had hoped. And the long-awaited Mueller report on "collusion" by Trump with Continue...Read More
Trump has already exerted more influence over one institution than any other president in over 100 years - the Federal Reserve.Continue...Read More
So far, there's not much going on today with an absence of economic datapoints and other news. So let's take the day to discuss two other items that have been on my mind recently.Continue...Read More
India's central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves.The Reserve Bank of India's purchases are part of a wider picture across developing economies that are looking at de-dollarizing their foreign-exchange reserves, according to Ross...Read More
BHP, Barrick Gold, Teck Resources and Antofagasta are a few of the major mining companies that, together with equipment suppliers and universities, have helped develop global guidelines on automation.The document, published this week by Canada-based Global Mining Guidelines Group (GMG), outlines a framework for miners to follow when considering adding autonomous equipment to their operations. It a...Read More
A video of Santiago Urdinola, head of private firm Minesa and former president of the Colombian Mining Association (ACM), has been leaked on Twitter and Facebook where he is shown saying the only perceptions that matter are those of regulators in Bogot??, not local communities.Urdinola's comments, recorded during an undated company meeting, are in relation to Minesa's application for an environm...Read More
Import prices for stainless steel in East Asia went down in the week ended Wednesday April 24 because market participants delayed purchasing decisions while waiting for more clarity about how the price of nickel would move.The three-month nickel contract on the London Metal Exchange ended the official trading session on April 23 at $12,575-12,600 per tonne, down by $490-495 per tonne week on week....Read More
The company's president and CEO hopes the former Secretary of the Interior will contribute to furthering the permitting process for its Wyoming project. On April 16, U.S. Gold Corp. (USAU:NASDAQ) announced the appointment of Ryan K. Zinke, who resigned last December as U.S. Secretary of the Interior, to the company's board of directors.U.S. Gold's president and CEO, Edward Karr, praised the appo...Read More
Caterpillar's earnings reaction pressured the Dow and S&P todayThe Nasdaq hit a record intraday high today thanks to blowout earnings for online retailer eBay (EBAY), but couldn't sustain this momentum into the close. The S&P 500 and Dow closed lower, too, pressured by a negative earnings reaction for Caterpillar (CAT) and big drops for energy stocks Exxon Mobil (XOM) and Chevron (CVX). Neverthele...Read More
SAP stock is higher on activist investor newsThe Dow is trading modestly lower this afternoon as Wall Street weighs the latest batch of blue-chip earnings. Among individual stocks in focus today are satellite radio service Sirius XM Holdings Inc (NASDAQ:SIRI), German software firm SAP SE (NYSE:SAP), and California utility name PG&E Corporation (NYSE:PCG). Here's a quick look at what's moving the s...Read More
Hospital operators CYH, HCA, and UHS are in focus todayThe healthcare sector has been under pressure lately due to growing talk of Medicare for all. Today, however, many in the group are gaining thanks to proposed changes to Medicare reimbursement rates, including a roughly 3.5% increase in payments to hospitals for inpatient services, which brokerage firm Jefferies says would be the largest incre...Read More