By: Ira EpsteinGold needs to get above $1729 to swing the trend, the August gold contract. Supports around $1688 then towards $1,660s:Read More
There will be short covering in gold if it rises today and till Thursday. In my view, most people are waiting to buy gold @1650. If gold prices manages to trade over $1700 till Thursday, then laggards will start to invest and gold price could be easily break past $1800. Bond yields, stocks and commodities can all rise at the same time. Free money supply is the key reason. Positive economic growt...Read More
Money manager Adrian Day reviews the prospects of two of his favorite resource companies and comments briefly on the pullback in gold prices. Following the strong rally in gold and gold stocks since the March low, we expect a pullback over coming weeks. It is already underway. We do not expect it to be particularly long or deep, and will present opportunities to buy. For now, however, patience is...Read More
Millrock Resources CEO Gregory Beischer speaks with Maurice Jackson of Proven and Probable about his company's drill program in the shadow of the Pogo gold mine. Maurice Jackson: Welcome to Proven and Probable. Joining us for a conversation is Gregory Beischer of Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQB). Gregory for someone new to Millrock Resources, please introduce the opportunity the c...Read More
The silver price has managed to recover from the Corona crash of 2020 with the price back within it's trading range of $17 to $20. Though contrary to the Silver bugs perma expectations for the Silver price to track the Gold price higher, that's not what usually tends to happen as the below graph illustrates,, which if you have followed my previous Silver analysis articles than you would know this...Read More
By: Hubert MoolmanThe US Dollar index is not a true measure of value of the US dollar. It just tracks an "exchange rate" between the US dollar and a basket of significant fiat currencies.For a true measure of value of the US dollar it is better to look to Gold and Silver. However, there is a relationship between significant Gold rallies and the US Dollar index.Gold has a tendency to rally at a c...Read More
Steve St. Angelo, SRSrocco Report If Americans thought the U.S. Government would be in serious trouble as its ability to service its ballooning debt would become unmanageable, guess again. After the U.S. Government added nearly $3 trillion more debt in just the past eight months (fiscal year), the interest paid on the public debt actually declined versus last year. According to TreasuryDirec...Read More
By Clive MaundThe 6-month chart for GDX shows it completing what looks like a Head-and-Shoulders top at a quite a high level, and with this morning's drop it could soon break down from the pattern leading to a potentially steep drop.On the 13-month chart for GDX we can see that there is plenty of room for it to drop, and the minimum objective in the event of it breaking below nearby support is...Read More
By Avi GilburtRarely do you enter a market environment when the fear is as palpable as it was in the middle of March of this year. The world was coming to an end based upon most of what I was reading. And, as we were approaching the market lows (and even all throughout the 45%+ rally we just experienced), many continued to call for further crashes with many targets being noted at 1800, 1600, and...Read More
Strengths? The best performing precious metal for the week was palladium, up 0.77 percent. ETFs added 241,076 troy ounces of gold to their holdings on Monday, bringing net purchases for the year to 17.2 million ounces, according to Bloomberg data. Total gold held by ETFs rose 21 percent this year to 100.2 million ounces - the highest level since June 2019. However, on Thursday th...Read More
By: Ira EpsteinGold needs to get above $1729 to swing the trend, the August gold contract. Supports around $1688 then towards $1,660s:Read More
There will be short covering in gold if it rises today and till Thursday. In my view, most people are waiting to buy gold @1650. If gold prices manages to trade over $1700 till Thursday, then laggards will start to invest and gold price could be easily break past $1800. Bond yields, stocks and commodities can all rise at the same time. Free money supply is the key reason. Positive economic growt...Read More
The silver price has managed to recover from the Corona crash of 2020 with the price back within it's trading range of $17 to $20. Though contrary to the Silver bugs perma expectations for the Silver price to track the Gold price higher, that's not what usually tends to happen as the below graph illustrates,, which if you have followed my previous Silver analysis articles than you would know this...Read More
By: Ira EpsteinGold has strong support around $1653.50+ / 18 week moving average. Momentum rolled over. Read More
The Nasdaq hit another record highThe National Bureau of Economic Research (NBER) officially announced the U.S. entered a recession in February, resulting in the worst downturn since the Great Depression. The downturn ended a 128-month expansion, the longest in post-World War II history. Despite this grim news, stocks continued higher, as optimism over the reopening economy, particularly airline...Read More
AMC is set to report earnings after the close tomorrowAMC Entertainment Holdings Inc. (NYSE:AMC) will take its turn in the earnings confessional after the close tomorrow, June 9, posting its first-quarter results. The stock is getting a broad-market boost ahead of the event, up 8.8% to trade at $6.42 at last check, set to close atop the 150-day moving average for the first time in over a year. Sin...Read More
Plus, Cloudflare options are affordably priced at the momentThe shares of Cloudflare Inc (NYSE:NET) are down 1.1% to trade at $29.10 at last check, taking an extended breather from their May 15 all-time high of $30.78. In fact, NET has taken a 3.7% haircut in the last five trading days. The good news is that this pullback has brought the I.T. stock within a historically bullish trendline.Accordin...Read More
Calls are booming for the popular space tourism stockListed below are 20 stocks that have attracted the highest weekly options volume over the last 10 trading days thanks to data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White -- who also highlighted new entrants in yellow. Standing out this week is Virgin Galactic Holdings Inc (NYSE:SPCE), a company that investors have kept a cl...Read More
The Dow is up over 290 points middayStock's are extending their morning gains into midday, looking to piggyback off of last week's wild rally. The Dow JonesIndustrial Average (DJI) is up over 290 points, while the S&P500 Index (SPX) and Nasdaq Composite (IXIC) are also trading well above breakeven at the halfway point. Optimism over the economy's reopening remains strong, with airline and ret...Read More
MIK received a price-target hike from Credit Suisse, tooThe shares of craft retailer Michaels Companies Inc (NASDAQ:MIK) are up 35.9% at $7.49 at last check --one of the best stocks on the New York Stock Exchange (NYSE) so far today -- fighting further out of the penny stock range. Today's rise comes after J.P. Morgan added MIK to its analyst focus list, upgrading it to "overweight" from "neutral...Read More