By Robert LambourneAccording to its recently published February statement of account, the Bank for International Settlements, which represents most central banks, appears to have increased its position in gold swaps and gold-related derivatives by 6 tonnes over its position at the end of January, bringing it to an estimated 326 tonnes.The bank's use of gold swaps and derivatives has risen by mor...Read More
By: David HaggithYesterday was the greatest crash in Wall Street history by one measure, and took down many other milestones. The Dow plunged 2,012 points in its largest single-session drop on record! Percentage-wise it was down 7.8%, which still knocked out decades of lows, leading to "Black Monday" being the hot search term on Google today as people sought a comparison worthy of this Monday...Read More
By: Ira EpsteinGold's vertical rise shows its power. 18-dma is $1628, Bollinger bands is up near $1700.Read More
PRIVATE BLOG - Gold & the March 2020 RallyPrivate blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
Extreme volatility in the equity markets has investors wonderingwhat to expect. Even the hardiest of stock market bulls are finally asking someserious questions about whether the top is in.Stocks have long been priced for perfection and suddenlyconditions are looking far from perfect. The coronavirus may be the pin whichpricks the latest Fed-blown bubble.Precious metals investors have been prepari...Read More
The baseline case for gold 320 ADWe sometimes forget that inflation is a process rather than an event. One of the better-known examples of that axiom is the nearly two centuries-long debasement of Rome’s silver denarius – an inflationary episode Jack Whyte, a writer of historical fiction, skillfully addresses in his latest novel, The Burning Stone.Set in Great Britain in the fourth cen...Read More
LONDON, 10 March 2020 - Data and analysis from BullionVault features today in a report on the surging demand for gold from ThisIsMoney, the popular personal finance website from the Daily Mail group of newspapers.Commenting on BullionVault's dramatic growth in sales and trading volumes, "Used for little else besides storing value, gold has served that role in all cultures in all ages," says direct...Read More
YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMBy Ed Steer07 March 2020 -- Saturday YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUMGold's two tiny rallies in Far East trading on their Friday were dealt with in the usual manner. But starting about fifteen minute before the London open, a rally of some substance appeared. That was capped at, or just before, the 10:30 a.m. GMT morning g...Read More
By: Ira EpsteinGold showing higher highs and higher lows on the weekly, 18-week moving higher quickly..Read More
Steve St. Angelo, SRSrocco Report (MARCH 8, 2020 Late PM US EST)It begins... the world is finally waking up to the massive economic and financial threat of this global contagion. As reported by Zerohedge, the Middle East markets opened today to a bloodbath as many of the region's stock indexes fell more than 5%, with Kuwait suspending trading after it's market fell 10%. According to the ar...Read More
RambusI promised you on Friday that I would take an in-depth look at the energy complex in the Weekend Report. If there is one sector to define the possible deflationary event we've been discussing for the last several months or so oil is probably the most important commodity of all. Eventually we'll know the cause in no uncertain terms, but the charts have been suggesting for a long time now th...Read More
It was oil's worst single-session drop since 1991The Dow cratered today by more than 2,000 points, as Wall Street continues to slog through one of the worst stock market crashes in history. The blue-chip index just turned in its worst day since October 2008 as plummeting oil prices and coronavirus concerns form a perfect storm of investor panic. The S&P 500 and Nasdaq also were walloped and turned...Read More
Grubhub was raised to "perform" from "underperform"Food delivery service GrubHub Inc (NYSE:GRUB) is down 7.1% to trade at $48.21 today. As food delivery stocks are appealing amidst a global pandemic, GRUB was upgraded to "perform" from "underperform" by Oppenheimer today. However, while it might have lessened the blow, it doesn't seem to be enough to push the equity out of the surrounding broad-ma...Read More
The Australian privacy regulator just accused Facebook of sharing the personal detailsover 300,000 users without their knowledge Twitter isn't the only social media name in focus today, with investors turning their attention toward Facebook, Inc. (NASDAQ:FB) following reports that the Australian privacy regulator just sued the tech giant over allegations that it shared personal details of over 300...Read More
Costco is taking extra precautions with its free samples to protect customers from the coronavirus outbreak. The coronavirus outbreak is confirmed to have spread to at least 25 states, and as a result customers of Costco Wholesale Corporation (NYSE:COST) will have to say good-bye to free samples for the time being. Costco, last seen trading down 2.4% at $303.78, made the decision after competitor...Read More
XOM, CVX, and COG options volume is ramped up todayIf the coronavirus outbreak was the match, then OPEC-fueled price war is the kerosene soaked rag that sparked today's stock market crash. As oil prices plummet and send the world economies into disarray, energy stocks Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Cabot Oil & Gas Corporation (NYSE:COG) are in focus. Opti...Read More
Oil is continuing its deep dive this afternoonAfter trading was halted for 15 minutes this morning to prevent a further plunge, the Dow Jones Industrial Average (DJI), the S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all down between 6% and 7% at midday, with the Dow falling over 2,000 points at its worst. Saudi Arabia cutting official crude selling prices for April and its subsequent pri...Read More
U.S. health officials are warning Americans to avoid cruise ships as the coronavirus outbreak worsens It's no secret the cruise line sector has taken a hit in recent weeks, with a slew of reports trickling in regarding coronavirus-related quarantines and cancellations. Two stocks hit particularly hard are Carnival Corp (NYSE:CCL) and Royal Caribbean Cruises Ltd (NYSE:RCL), and this weekend's warni...Read More
Amazon was hit again by a COVID-19 fear waveAmazon Inc. (NASDAQ:AMZN) is down 7.1% to trade at $1,767.03, despite a positive premarket outlook this morning. The premarket rise came after news that AMZN will announce a new business line selling the technology behind its automated checkout to other retailers. Amazon's cashier-less venture, Amazon Go, is estimated by Loup Ventures to grow to $50 bill...Read More
Twitter stocks dipped after it flagged one of Trump's retweetsShares of Twitter Inc (NYSE:TWTR) are down 6.2%, last seen at $31.40. Twitter made headlines last week on rumors CEO, Jack Dorsey was being pressured to leave due to his divided attention between Twitter and Square (SQ). Now, the social media giant is back in the news after applying its new "manipulated media" label for the first time...Read More