By: Ira EpsteinGold continues to trend with lower-lows, higher-highs. In a resistance area. The gold market is overbought. Gold stocks - $GDX - also back up into upper resistance and overbought as well. That does not mean in a downtrend...Read More
By: Ross Norman, Sharps PixleyGold's relative strength indicator is at the 73, highest since September 2011 - the month that gold hit an all-time high. This may suggest that gold is technically "overbought" just now, but it is also at a level we saw regularly back in the early 2000's when gold was starting a bull run with a 16% year on year increase, well before the Global Financial Crisis.There...Read More
AAPL, not long ago the one true love of fund managers, has been a conspicuous laggard since the broad averages trampolined off December's lows. It is only in retrospect that we can see how they might have contrived, albeit with only modest success, to ignore the stock's big problem, which is that the company's ridiculously overpriced phones are poorly positioned to compete against increasingly a...Read More
A simple way to stop picking losers, and start cashing in like Wall Street's elite.Most traders would never believe that 9 out of 10 trades could be winners.But while it may sound impossible, thanks to a research breakthrough, it may not be as far-fetched as many think.JPMorgan's trading desk produced a 99.52% win rate from 2013 through 2017. That includes 2 straight years without a losing day....Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Full Article: FED CRUMPLES - and SEALS THE DOLLAR'S FATE..By: Clive P. MaundThe Fed didn't just fold on Wednesday, it crumpled, capitulated. A long time ago we had figured out that when push came to shove, this is what it would do. However, we thought that it would take a market crash to force it to change course, in order that it could use that as solid justification for a U-turn, instead of whi...Read More
Being dogmatic about gold investing doesn't make much sense; there are times to be bullish and times to be bearish on the precious metal.Trying to time the gold market is futile, but the statistical evidence shows that quantitative systems based on trend-following tend to produce attractive returns.Introducing 3 quantitative systems based on trend-following and relative strength in the SPDR Go...Read More
Based on the VC PMI, we are coming into this week with gold having a bullish weekly trend momentum.If gold closes below $1294, it would negate this bullishness to neutral.The monthly S1 was at $1338, which has been completed, while the S2 level, if we go into a blow-off acceleration phase, is $1356.We are waiting now for the market to close below $1338 to activate a short signal.If we close below...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday February 21, with strong afternoon performances in the prices of three-month aluminium, tin and lead amid a slowdown in copper and nickel activity.The three-month aluminium price climbed by 2% over the afternoon to reach its highest point since February 7, while a fresh cancelation of more than 17,000 to...Read More
Copper price moves on the United States' Comex trading system reversed in morning trading on Thursday February 21 after recent trade talks between the US and China gave no boost to metal prices.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped on Thursday by 2.30 cents per lb to $2.8970 per lb.Senior officials from the US and China are engaged i...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Thursday February 21, with positive steps in US-China trade talks doing little to support slumping prices although both copper and nickel futures held ground. Copper's three-month price consolidated lower over the morning but remains well supported above $6,300 per tonne by LME inventory which is at a decad...Read More
Canada's Lundin Gold (TSX:LUG), the company that plans to kick off production at its Fruta del Norte gold project in Ecuador later this year, will boost exploration in the country thanks to C$40.5 million (about $30.8m) in financing secured this week.A syndicate of underwriters, co-led by GMP Securities and BMO Capital Markets, has agreed on a bought deal basis to buy 7.5 million shares at $5.40...Read More
The recent minutes show that the Fed is divided over future rate hikes. How should gold investors react? To Hike, or not to Hike, That Is The Question As Chairman Powell has been good at communicatingthe US central bank’s plans, the recent FOMC minutes do not contain too many surprises. In January, the Fed took investors by surprise, saying that it could be patient on interest rates. The min...Read More
Wednesday's trading session was virtually flat, as investors hesitated following the recent run-up. Will the broad stock market continue higher despite some clear short-term technical overbought conditions?The U.S. stock market indexes were mixed between 0.0% and +0.2% on Wednesday, as investors sentiment remained bullish despite some clear short-term technical overbought conditions. The S&P 5...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold bullion bars and coins.Gold slipped off a 10-month peak on Thursday, pressured by signals the U.S. Federal Reserve will not adopt as dovish a stance on monetary policy as previously thought and as investors booked profits, while palladium retreated from a record high.Spot gold fell 1.08 percent to $1,324 per ounce at 1:56 p.m. ET,...Read More
Gold price hits 10-month high as global growth concerns abound.Dovish stance among world's leading central banks has boosted gold.Expect a move to the $1,400 soon before the next short-term top.Gold started the latest week with a bang and gave the bulls something to cheer. Gold's latest move higher confirms what we've discussed in recent reports, namely that even a strong dollar won't undermin...Read More
Canadian miner Hudbay Minerals (TSE: HBM) has plans to double the annual gold output from the Lalor gold-copper-zinc mine 13 km west of Snow Lake, Manitoba. As part of the plan the New Britannia mill will be refurbished at a cost of $95 million raising Lalor gold output to 140,000 oz. per year.The Lalor mine will then be joining the ranks of primary gold producers as one of the lowest sustaining...Read More
Gold is currently trading at $1,340, having clocked a high of $1,346.85 yesterday. On the daily chart, the safe haven yellow metal carved out a doji candle yesterday, signaling indecision/bullish exhaustion. Further, on the 4-hour chart, the RSI has diverged in favor of the bears. Therefore, the yellow metal could fall back to the ascending 5-day moving average (MA) support, currently...Read More
The US Mint just announced it has temporarily sold out of the 2019 American Silver Eagle Coin effective immediately... February 21, 2019.As a result of the announcement today, silver coin price premiums on Silver Eagle Coins are inching higher above the fluctuating silver spot price given that the US Mint was ambiguous about when new Silver Eagle Coin supplies will return to market.The following...Read More
The Turkish scrap import market was quiet on Thursday February 21 because of the sluggish markets for finished and semi-finished long steel and the subsequent downturn in prices.This week's only transaction so far was a UK cargo sold at $316 per tonne cfr for HMS 1&2 (80:20) on Wednesday. After this, the market prices went down by around $8-9 per tonne.The mills were showing almost no buying inter...Read More