The dovish Federal Reserve lit a fire under gold and its miners' stocks this week. As universally expected the FOMC hiked rates for the 9th time in this cycle. But it also lowered its 2019 rate-hike outlook bowing to the stock-market selloff. Traders dumped gold initially thinking that wasn't dovish enough. But market reactions to the FOMC form over a couple days, and gold surged overnig...Read More
By Gary TanashianOne of the most disturbing scenes in the series Breaking Bad was when Todd shoots and kills a boy on a dirt bike after he witnessed Heisenberg, Jesse and Todd heist 900 gallons of methylamine. Jesse: "Todd, that Opie Dead Eyed piece of shit..." That is similar to the feeling I got after the Fed hiked the funds rate as expected, but then declined to offer the stock market much re...Read More
The price of gold cannot decline and stay below the gold production costs. Myth or fact? We invite you to read our today's article about the mining costs and find out whether they provide a floor for gold prices. So if the central bank demand for gold is not able to boost the price, then maybe mines will help? We refer here to the popular narrative that the price of the yellow metal cannot dec...Read More
By RambusYesterday I posted this daily chart for the UUP suggesting that it could very well be building out a new uptrend channel with the current price action trading at the top rail where it has been chopping out the small blue rising wedge. Today we are getting some follow through to the downside.Below is the weekly chart which shows how the new uptrend channel could still be bullish over the...Read More
By Steve St. AngeloThere is no better way to describe what is currently taking place in the U.S. Shale Oil Industry, then a bloodbath. Unfortunately, if the situation wasn't bad enough for the shale oil industry when prices were 30-40% higher, today it's a complete disaster. While some might think that a bit of an overstatement, I can assure you that these low oil prices are doing serious...Read More
We'll be hearing a lot more about the "death cross" in the days ahead, mostly from business-channel pundits who know as much about stock charts as you and I do about particle physics. The death cross occurs when a trading vehicle's 50-day moving average falls beneath its 200-day moving average. It usually signals a big selloff ahead. If correct this time, the 4000-point plunge that has already...Read More
Just one request, please do not trade while drunk during the vacations. Merry Christmas. Enjoy the present and forget the past.Gold needs a close over $1260 and silver needs a close over $1490 today to zoom next week. Volumes will be there from Asia. Trading volumes will be down next week but not zero. Holiday goers will enjoy as petrol/diesel prices are low. The current market situation is that...Read More
There was zero activity in Brazil's pig iron export market this week, with buyers declining to make any purchases ahead of the New Year.Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region was $335-340 per tonne fob on Friday December 21, down by $5 per tonne week on week. "The market is dead. Even if producers cut prices [again] no one will buy...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
Mohamed El-Erian, chief economic advisor to Allianz, joins 'Squawk Box' with his analysis on the Fed's recent announcement to tighten monetary policy.Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr....Read More
Brazilian slab export prices remained unchanged this week, with most bookings already pre-arranged due to the end-of-year holiday schedule at many companies.Fastmarkets' weekly price assessment for Brazilian slab exports was unchanged on Friday December 21, at $430-475 per tonne fob.Bookings for February shipment were virtually finished, with most deals closed to the United States near t...Read More
Topics Include:*History of gold - Nixon tariffs, and closing the gold window*Investment case for gold*Why US debt to GDP ratio and increasing debt load creates a systemic problem with specific outcomes, all of which indicate an allocation to gold may be prudent*How low gold sentiment in western markets may indicate a key buying opportunity*Physics properties of gold, and why gold is a truly non-co...Read More
France prepares 'last resort' chemical weapon that can be smothered around Paris to keep Yellow Vest rioters away from key buildings as anti-Macron protests continueContinue...Read More
Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Luf...Read More
Stablecoins are cryptocurrencies designed to minimize the effects of price volatility, thus they seek to function as a store of value and a unit of account. To minimize volatility the value of a stablecoin can be pegged to a currency, or to exchaContinue...Read More
Over 2,400 US soldiers have been killed in Afghanistan, a number that is now about the same as the death toll from the actual 9/11 attacks.Continue...Read More
BMO Capital Markets' metals and mining division faced upheaval this year after losing its two veteran co-heads during an already tough time for the resource industry. Its new leaders aim to prove the investment bank remains as strong as ever in the sector.The Bank of Montreal unit is accelerating lending and adding more bankers, including a sales-and-trading team poached from Bank of Nova Scotia,...Read More
Barrick Gold Corp has laid off more than half of its staff at the company's Toronto head office, while its long serving director Anthony Munk is stepping down, the Globe and Mail reported on Friday.Munk, who is Barrick Gold founder Peter Munk's son, has tendered his resignation, the report said.The laying off of nearly 95 employees comes as the Toronto-based company expects to complete its purchas...Read More
JOHANNESBURG - A court has found that a strike by a union representing just under half of all workers at Sibanye-Stillwater's South African gold operations is legal, despite the company declaring otherwise last week.South Africa's Association of Mineworkers and Construction Union (AMCU) said on Friday that the court disagreed with Sibanye's reason for judging the strike unprotected, and ordered Si...Read More