Technical analyst Clive Maund charts silver and explains why he believes the metal's prospects are changing. Silver continues to be a singularly neglected and unloved investment, and has been for years now, but as we will proceed to see, this is not a situation that is likely to continue for much longer. On its 10-year chart we can see that silver has basically been moving sideways marking out a l...Read More
SD Midweek Update: Gold & silver are holding steady as expected, but wait until you read what has just been uncovered about the US economy...There must be a problem with consumer spending. We often hear that America is a 70% consumption-based economy, so buying trinkets from Wal Mart and riblets from Applebee's is important.But what if the consumer is tapped out?No worries, another tax cut is on i...Read More
The precious metals sector continues to be viewed with disdain, posits technical analyst Clive Maund, who discusses the factors that he sees are behind changes in the market. The precious metals sector continues to be viewed with disdain and skepticism by the vast majority of investors, which is exactly what you want and expect to see at the earliest stages of a major bull market. However, the cha...Read More
SANTIAGO (Reuters) - Chile and Brazil signed a free trade agreement on Wednesday that scraps red tape and tariffs between the two South American economies, in a move both governments said would give a boost to regional integration.Brazil President Michel Temer traveled to Santiago to sign the deal with his counterpart, Chilean President Sebastian Pinera. The agreement eliminates tariffs from 17 ke...Read More
Technical analyst Clive Maund tracks movements in the platinum, gold and silver markets.It was a very good day for the metals Friday, as they rose sharply in response to the dollar going into reverse after a sizable run-up. A very significant development was that platinum broke out of its Head-and-Shoulders bottom on strong volume, a move which we had expected that marks the start of a bull market...Read More
NEW YORK (Reuters) - Illinois, the U.S. state with the lowest credit rating on Wall Street, has often been chastised for using gimmicks to balance its budget.Take, for instance, its overly optimistic assumptions about savings, such as a voluntary pension benefit buyout that retirement systems have yet to actually start.For fiscal 2019, which began July 1, Illinois is counting on an additional $150...Read More
(Reuters) - Apple Inc’s biggest iPhone assembler Foxconn aims to cut 20 billion yuan ($2.88 billion) from expenses in 2019 as the company faces “a very difficult and competitive year”, Bloomberg reported on Wednesday, citing an internal memo.The Taiwan-based producer said in a statement it was conducting a regular annual review to budget effectively for 2019, but it was also the...Read More
Gold is the metalof kings, the ultimate money, an eternal store of value, an untarnishableembodiment of beauty. Gold is all those things. But it is not the most valuablemetal you can own on a cost-per-ounce basis.Often, platinum commands a higher price than gold.Lately, platinum has traded at an abnormally large discount to the yellowmetal. Metals investorswho want to hold the most concentrated we...Read More
BRUSSELS/LONDON (Reuters) - Prime Minister Theresa May met the EU’s chief executive in Brussels on Wednesday to discuss a blueprint for Britain’s future ties, hoping to secure commitments that will appease rebels at home opposed to a Brexit draft treaty.With just over four months before Britain leaves the bloc, May’s meeting with European Commission President Jean-Claude Juncker...Read More
Dear Investor,While most traders have been watching the S&P, oil plunged 18% in October. In the process, crude broke below a key long-term trendline. You know what that means: It's an exciting potential opportunity. That's why we've got an exciting free event starting Tuesday, Nov. 6. We call it our Energy FreePass event, where we unlock our trader-focused Energy Pro Service for 3 days. It's f...Read More
(Reuters) - U.S. borrowers filed the fewest applications for home refinancing in almost 18 years last week even as mortgage rates drifted lower in step with U.S. bond yields, the Mortgage Bankers Association said on Wednesday.The Washington-based industry group said its seasonally adjusted index on refinancing activity fell 5.0 percent to 783.7 in the week ended Nov. 16. This was the weakest readi...Read More
ROME, Nov 21 (Reuters) - Deputy Prime Minister Luigi Di Maio said on Wednesday the government shared the European Commission’s belief that Italy must cut its public debt, and intended to convince Brussels that the only way to do so was by supporting economic growth.“We and (the Commission) want the same thing: to reduce the debt,” Di Maio said on Facebook after the EU executive l...Read More
LONDON (Reuters) - One of Britain’s biggest pension funds has joined other investors, law firms and trade bodies in raising concerns about plans to give the government more power to scrutinize takeovers and other deals on security grounds, documents seen by Reuters showed.The Universities Superannuation Scheme (USS), which owns stakes in Heathrow airport and the company behind utility Thames...Read More
USDX’s Friday’s close was its highest weekly closingprices of 2018. This is an extremely significant confirmation of the bullishoutlook for the US currency that followed the verification of the breakoutabove the inverse head-and-shoulders pattern. The implications are clearly bullishfor the US dollar. But are they clearly bearish for gold? The yellow metalended the week close to its Oc...Read More
MILAN (Reuters) - Chocolate spread Nutella has long had pride of place on supermarket shelves but faces imminent attack from an Italian rival usually found in the pasta section.Italy’s Barilla, known internationally for its spaghetti and maccheroni packaged in blue boxes, is preparing to launch a chocolate spread next year in a major challenge to the brand that became a global phenomenon in...Read More
It’s an over obsessed upon commodity, previously hyped for its (Hubbert’s) “peak” status by “experts” like T Boone Pickens and a whole clown show of promoters amplified by the media at the time.Now WTI Crude Oil has reached a thick resistance zone (as managed in NFTRH for the last couple of years) and may be breaking down from a peak of a whole other kind. Here...Read More
BRUSSELS (Reuters) - The European Commission said on Wednesday it had adjusted its recommendation for the euro zone as a whole to have a stronger focus on what it said were the key challenges of boosting growth and shoring up public finances.“The recommendation calls for policies that support inclusive and sustainable growth, and improve resilience, rebalancing and convergence within the eur...Read More
TOKYO (Reuters) - Japan must maintain its ultra-loose monetary policy and proceed with gradual hikes in the consumption tax, including a scheduled increase next year, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday.The country’s ageing population also requires labor market reforms such as abolishing the mandatory retirement age and promoting female employme...Read More
ATHENS (Reuters) - The European Union’s executive approved Greece’s first post-bailout budget on Wednesday, but said the country had to speed up reforms if it hoped to qualify for any future disbursements under debt relief measures.The European Commission said it had adopted its first report for Greece under an enhanced surveillance framework put in place after the concusion of its bai...Read More
* EU Commission rejects Italian budget* Yields down as much as 16 bps on day* Salvini may be open to review budget -La Stampa* Salvini not seeking budget deficit changes (Adds Salvini, European Commission comment)By Virginia FurnessLONDON, Nov 21 (Reuters) - Italian government bond yields fell on Wednesday as some signs of a compromise from Rome on its 2019 budget boosted investor confidence, even...Read More