Graceland UpdatesBy Stewart Thomson 1. With a technical double bottom pattern as a launchpad, gold continues to move solidly higher while global stock markets get smashed. What comes next for these key markets and what are the main factors at play?2. Please click here now. Double click to enlarge this daily gold chart.3. What began innocently as a bullish non-confirmation be...Read More
As a general rule, the most successful man in life is the man who has the best information By Richard (Rick) Mills The oil price is rising due to the upcoming restrictions on the sale of Iranian oil - the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration's decision in May to withdraw from the Iran nuclear agreement, known formally as t...Read More
SPX continued losses. CPI slowed down. IMF cut its projection of global growth. What does it all imply for the gold market? Stock Market Turmoil Continues Let's start from the US stock market. In the last edition of the Gold News Monitor, we discussed the Wednesday's stock market turmoil. But the bear market continued later. On Thursday, the SPX extended its losses, declining about 2 percent....Read More
COLORADO SPRINGS, Oct. 16, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") reports preliminary production results for the third quarter ended September 30, 2018 of 6,411 ounces of gold, 321,590 ounces of silver and significant base metals. Gold Resource Corporation is a gold and silver producer, developer and explorer with operatio...Read More
By Avi GilburtI am certain of death. I am certain of taxes. And, I am certain of tax reform. (Sorry, that was an old tax attorney joke.)However, non-linear financial markets never lend themselves to certainty. Rather, the best we can do is look for clues that provide us with high-probability perspectives. That is what I use Elliott Wave analysis to do, in addition to supporting sentiment reading...Read More
Stock market bulls could catch a break if the retracement in Treasury yields continues for a while. The chart shows yields on the Ten-Year Note to have peaked last week at 3.25%. The correction has since hit 3.12% and could conceivably go lower. Although my rally target at 3.32% lies significantly above, that target comes from the weekly chart, and charts of lesser degree look maxed out for th...Read More
(Reuters) - Poland raised its gold holdings to the highest in at least 35 years, data from the International Monetary Fund showed on Monday.The country increased its holdings by 4.4 tonnes from August to about 117 tonnes in September, a record, according to data going back to January 1983."We have a really exciting announcement coming this Thursday, learn more about it here...""While the exchang...Read More
Gold needs to trade over the $1225-$1230 zone to rise. Silver needs to break and trade over $14.90 to start another wave of rise. Copper and industrial metals will be very volatile. Crude oil will be very volatile. Brexit woes and political issues within the Eurozone have resulted in a firm US dollar. The Euro and cable have fallen slightly. Investor sentiment towards the euro and cable is shaky...Read More
CloseGain/LossGold $1224.90-$0.50Silver$14.66-$0.03XAU70.10-0.50%HUI155.32-0.36%GDM557.73-0.05%JSE Gold1214.12-37.98USD95.06-0.02Euro115.81UNCHYen89.32+0.11Oil$71.92+$0.1410-Year3.157%+0.003T-Bond138.53125+0.25Dow25798.42+2.17%Nasdaq7645.49+2.89%S&P2809.92+2.15% The Metals: Gold gained $7 to $1232.40 at about 9:30AM EST, but it then drifted back lower for most of the rest...Read More
These 2 stocks are in the red despite broad-market tailwindsThe Dow is trading higher out of the gate this morning thanks to upbeat corporate earnings. However, not every stock is gaining after earnings. Take for example investment management giant BlackRock, Inc. (NYSE:BLK) and restaurant chain Domino's Pizza, Inc. (NYSE:DPZ), which are both in the red this morning. We'll take a closer look at sh...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have decreased over the past week, with demand being weak, sources told Fastmarkets on Tuesday October 16. UAE Hot-rolled coil (HRC) was offered to the UAE at $590-595 per tonne cfr from China. Russia's Severstal sold HRC at $575-580 per tonne cfr to the UAE. India was offering HRC at $600 per tonne cfr, but buyers believe the p...Read More
ADBE is finding support near its 200-day trendlineThe shares of Adobe Systems Incorporated (NASDAQ:ADBE) are up 7.2% to trade at $255.25 this morning, after the company confirmed at its analyst day its fourth quarter revenue and profit forecast, while expecting 20% revenue growth in 2019. The event drew rave reviews from analysts, with Barclays issuing a price-target hike to $304 from $297. In ad...Read More
UnitedHealth stock has already been an analyst favoriteShares of UnitedHealth Group Inc (NYSE:UNH) are 3.7% higher in electronic trading -- and could hit a new record high today -- after the Dow name reported an adjusted third-quarter profit beat of $3.41 per share and raised its full-year earnings outlook. UnitedHealth cited an increase in health insurance members as one of the notable catalysts...Read More
The latest news and price moves to start the Asian day on Wednesday October 17.Base metals prices on the London Metal Exchange recorded mixed moves at the close of trading on Tuesday October 16, broadly supported by a weaker dollar index in the United States and a marginal recovery in global equity markets. Read more in our live futures report.Here are how prices looked at the close of t...Read More
The bull market could be nearing its end, and a new panic is approaching.The U.S. Mint just issued a troubling report.It appears that sales of physical gold and silver are in full collapse.At the Mint, U.S. Gold Eagle coins sold through August have dropped 18% compared to last year.And sales of U.S. Silver Eagle coins fell a whopping 32.6% in August 2018 compared to August 2017.What exactly is go...Read More
The latest metal markets news and price moves to start the North American day on Tuesday October 16.London Metal Exchange base metal prices were lower across the board during this morning trading, with aluminium's three-month price largely unaffected by a 70,000-tonne delivery.Following the largest inflow since April this morning, total LME aluminium stocks are now sitting just below 1 million ton...Read More
Corporate earnings so far today have been strongDow Jones Industrial Average (DJIA) futures are trading comfortably above fair value, as stocks eye a move higher out of the gate. A strong round of corporate earnings could help equities bounce back from yesterday's risk-off session, with Dow components Goldman Sachs (GS) and Johnson & Johnson (JNJ) both reporting earnings beats. Tech stocks will be...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 16. Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday, with the complex in consolidation mode after lackluster China data failed to inspire much-needed confidence in the market.Check Metal Bulletin's live futures report here....Read More
Investors in the cannabis space have thus far focused primarily on the growers of the product. We first recommended Canadian greenhouse growers in 2016, added in 2017 and added again in early 2018. It has been a very profitable ride and I believe there is more upside ahead for cannabis growers over the next 12 months.But they will eventually face margin compression, as the supply shortfall turns i...Read More
Barrick Gold has rallied 37% off of its lows in the past month.While 2019 earnings estimates are an improvement from 2018 levels, they are still below 2017 levels.The stock likely needs a pullback and higher low to allow its moving averages to play catch-up before moving higher.Barrick Gold (ABX) has seen a powerful move off of the lows since September, which has accelerated after its acquisition...Read More