There are a number of factors supporting gold prices at the moment, most notably a big drop for the US dollar. The US dollar has weakened sharply ahead of next week’s FOMC meeting amid growing expectations that the Fed will re-iterate the need to pause its hiking cycle. We have been growing negative towards the buck for a while now and this dollar sell-off does not surprise us at all. The se...Read More
European miners will maintain their position at the forefront of integrating technology, particularly in more developed markets, due to a highly skilled workforce and high levels of connectivity among the more developed economies, a regional overview published by Fitch Solutions reports. On a more sombre note, analysts predict high costs, a weak project pipeline and conservative company strate...Read More
NVDA is reacting to earnings from Intel and Western DigitalIt's been a choppy trading session for Nvidia Corporation (NASDAQ:NVDA) stock. The shares fell to their intraday lows early on a negative earnings reaction for Intel (INTC) and a downshift at Jefferies. However, NVDA stock was last seen up 1.4% at $160.07, potentially getting a halo lift from Western Digital (WDC), which is popping on an u...Read More
Citron thinks one U.S. Representative will be positive for the social media concernThe Dow is cruising today toward its longest weekly winning streak since August. Among names making notable moves are blockchain concern Overstock.com Inc (NASDAQ:OSTK) and social media entity Twitter Inc (NYSE:TWTR) are higher, while medical device maker Helius Medical Technologies (NASDAQ:HSDT) is lower. Below, w...Read More
Gold futures settled above $1,300 an ounce on Friday, with prices for the yellow metal at their highest since June as the U.S. dollar pulled back and investors eyed geopolitical turmoil and global growth worries. Rising gold prices reflect "political uncertainty" in the U.S., Eurozone, Venezuela and pockets of South America, as well as China-U.S. trade talks, said George Gero, managing director at...Read More
This update corrects the contract reference for gold to April, which has higher open interest volume than the February contract. AFP/Getty Images Gold futures for April delivery settled above $1,300 an ounce on Friday, with prices for the yellow metal at their highest since June as the U.S. dollar pulled back and investors eyed geopolitical turmoil and global growth worries. Rising gold prices ref...Read More
SIRF suggests the drug maker is "exploiting gaps" in the U.S. healthcare systemThe shares of drugmaker Corcept Therapeutics Incorporated (NASDAQ:CORT) are lower today, as traders digest a scathing report from the Southern Investigative Reporting Foundation (SIRF). In a nutshell, the report says Corcept epitomizes what's wrong with the U.S. healthcare system, laying out a case that the "small compa...Read More
Bedford-based RosCan Gold (TSXV: ROS) announced this week positive assay results from an initial Air Core drilling program at its Kandiole project in western Mali.The project is comprised of five permits of contiguous land in the Birimian Rocks, east of B2Gold's Fekola mine and Iamgold's Boto and Diakha deposits.In a press release, RosCan said that the drilling program was completed in December 20...Read More
Swiss bank chief Sergio Ermotti has warned that financial liquidity in global markets should not be assumed. Speaking on the same Davos panel J.P. Morgan's asset and wealth management chief said a lack of liquidity is "what we all worry about."David Reid| @cnbcdavyPublished 12 Hours AgoUpdated10 Hours AgoCNBC.com show chapters Liquidity can freeze very quickly: UBS CEO 6:49AM...Read More
Trade, earnings, and politics dominated headlines this weekTraders had a ton to digest this week, especially considering it was cut a day short for the Martin Luther King Jr. holiday on Monday. Fourth-quarter earnings season was in full swing, but constant buzz around U.S.-China relations, the government shutdown, and the Fed kept shifting Wall Street's attention seemingly hour to hour. As of this...Read More
Canada's Mirasol Resources (TSX-V: MRZ) announced that it has signed an option to purchase agreement which would allow it to complete the consolidation of the Sascha - Marcelina low sulfidation epithermal Au-Ag district in the Santa Cruz province of southern Argentina.In a press release, Mirasol explained that under the terms of the agreement, it can acquire 100% of the Marcelina claims from a pri...Read More
GOLD continues to trade below key resistance at 1,298.55 as it remains in consolidation mode. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside pressure targeting the 1,250.00 level. Convers...Read More
WSJ: The Fed's balance sheet unwind could end sooner than expectedWith an end hopefully in sight for the now record-breaking government shutdown, and after upbeat comments about U.S.-China trade negotiations from Treasury Secretary Steven Mnuchin, the Dow Jones Industrial Average (DJI) is up more than 200 points -- now pacing for its fifth consecutive weekly win, and its longest weekly win streak...Read More
Citrix Systems stock gapped lower post-earnings yesterdayCitrix Systems, Inc (NASDAQ:CTXS) gapped lower yesterday, Thursday, Jan. 24, in the wake of a subpar quarterly report. This triggered three price-target cuts to the software name, including to $110 from $115 at Wedbush. However, it's not all bad news: that drop has put CTXS in touch with a trendline with historically bullish implications....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
XAUUSD, Daily, H4 & H1 Gold breached the 61.8 Fibonacci level at 1286.00 zone, last Friday (January 18), and has been unable to close above this level so far this week. The Gold price has continued to trade below this key level, re-testing it briefly on Wednesday (January 23) but also trading as low as 1276.60 on Monday and Thursday. The daily chart has Support at 1275.00 (lower...Read More
Analysts are already bullish on the nameOppenheimer initiated coverage on Aptose Biosciences Inc (NASDAQ:APTO) with an "outperform" rating and a $6 price target -- a nearly 200% premium to last night's close -- sending the stock up 3.5% to trade at $2.09. The brokerage firm waxed optimistic on the company's cancer drug, CG-806, and its potential for commercial growth as a treatment for both acute...Read More
Several analysts tweaked their price targets after earningsDespite its fiscal second-quarter earnings and revenue miss, the shares of Western Digital Corp (NASDAQ:WDC) are up 10% at $44.18, on a positive forecast from the company. Specifically, the data storage concernforesees improved revenue in the second half of the year, as it beginsto cut costs. WDC bottomed out at a six-year low of $33.83...Read More
The brokerage firm thinks advertising and AWS drove strong revenue growth for AMZNCowen chimed in on Amazon.com, Inc. (NASDAQ:AMZN) ahead of the e-tailer's quarterly earnings report, due after the market closes next Thursday, Jan. 31. The analyst believes Amazon's fourth-quarter earnings will arrive at the top end of previous estimates, driven by strong revenue growth in its advertising business,...Read More
* Indian discounts shrink; dealers eye import duty announcement* China premiums at $9.50-$11.50 an ounce* Festival buying picks up in Singapore as wellDemand for physical gold in India improved slightly this week as local prices eased from their highest level in over five years, while buying gathered steam in China ahead of the Lunar New Year festival.Dealers in India were offering a discount of u...Read More