A downward GDP revision and durable goods orders are also in focusDow Jones Industrial Average (DJI) futures are trading well above fair value this morning, as a big earnings boost from Nike (NKE) offsets D.C. drama. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also signaling a rebound for stocks, even after the Senate indicated it will not approve a House budget bill that inc...Read More
Traders don't need to wait until the opening bell to start raking in massive wins.In light of the recent market action, many traders are taking time to reevaluate their portfolios...Analyzing their open positions...And getting ready to make any needed changes to their trading in the weeks and months ahead.However, most traders are under the impression that they have to wait until markets open to...Read More
ePower Metals (TSXV: EPWR) announced it has entered into a definitive agreement to buy Exploracion Auramex S.A. de C.V. and its Magenta cobalt project from Bowering Projects.The Magenta project is located in Sinaloa, northwestern Mexico, and consists of five claims totaling 2,274 hectares. The claims are on privately owned ranch land and four of them are in good standing while one, the Magenta #2,...Read More
This stunning research revealed by the former hedge-fund who predicted the last NASDAQ crash could have some Americans thinking twice before hoarding cash.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 go...Read More
Tasman Mining announced this week that government agency New Zealand Petroleum & Minerals granted a mining permit for the high-grade Blackwater gold deposit located near Reefton on the West Coast of the South Island.In a media statement, Tasman said that with this new permit, the company can put in motion its plans to build an underground operation at the site of the historic Blackwater mine. Gold...Read More
Bob Moriarty ArchivesDec 21, 2018Novo just announced results from testing at two different projects in the Pilbara. I’ll start this piece with the results from the Tomra sorting machine because it’s so simple to understand. It works.Novo took four samples from Purdy’s/Comet Well and ran them through the Tomra machine. In three of the tests, the material ranging in size from 6 mm...Read More
CloseGain/LossOn WeekGold $1255.50-$5.50+1.39%Silver$14.62-$0.15+0.27%XAU68.67-1.60%+1.60%HUI156.47-1.28%+2.50%GDM570.74-1.04%+1.84%JSE Gold1316.81-28.01+1.12%USD97.03+0.69-0.44%Euro113.63-0.94+0.51%Yen90.02-0.10+2.03%Oil$45.59-$0.29-10.96%10-Year2.783%-0.021-3.80%Bond144.8125+0.09375+0.96%Dow22445.37-1.81%-6.87%Nasdaq6332.99-2.99%-8.36%S&P2416.58-2.06%-7.05% The Metals: ...Read More
By Jordan Roy-Byrne CMT, MFTA As we've been saying, the stock market will have great influence on Gold. It has been easy to see in recent months. The S&P 500 has cracked, losing both its 200-day and 400-day moving averages. Gold and gold stocks have benefitted and gained in recent months even with a stable to rising US Dollar. The past 65 years of history shows us that in almost any context (...Read More
By David MorganMany "experts" warn that the dollar will collapse and lead to global economic turmoil. In this scenario, investors would rush to other currencies to escape further losses. Global trade would seize up because the majority of international contracts demand a dollar payment. Other assets would skyrocket. The worst-hit would be currencies like the euro, yen, and the yuan. Gold prices...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort182,168106,20853,411132,148224,823367,727384,442Change from Prior Reporting Period 12,568-2,893310-2,13713,17010,74110,587Traders17079694949247173 Small Speculators (C) GoldSeek.com LongShortOpen Interest 44,75828,043412,485 -506-35210,235 non reportable positionsChange from t...Read More
By David Brady, CFAI have to admit that the action in Gold of late has been exciting. After dumping post the FOMC meeting on Wednesday, Gold came roaring back yesterday and then some. It closed at its highest level since July. What is more interesting is: why? It is this that will determine whether we head higher or not. The following are what I believe may be the drivers of Gold's recent renais...Read More
The dovish Federal Reserve lit a fire under gold and its miners' stocks this week. As universally expected the FOMC hiked rates for the 9th time in this cycle. But it also lowered its 2019 rate-hike outlook bowing to the stock-market selloff. Traders dumped gold initially thinking that wasn't dovish enough. But market reactions to the FOMC form over a couple days, and gold surged overnig...Read More
By Gary TanashianOne of the most disturbing scenes in the series Breaking Bad was when Todd shoots and kills a boy on a dirt bike after he witnessed Heisenberg, Jesse and Todd heist 900 gallons of methylamine. Jesse: "Todd, that Opie Dead Eyed piece of shit..." That is similar to the feeling I got after the Fed hiked the funds rate as expected, but then declined to offer the stock market much re...Read More
By Marin KatusaOne of the largest conferences of the year just wrapped up this past weekend in Katowice, Poland. And it was on everyone's favorite subject, climate change.Yes, this is the annual conference where tens of thousands of delegates fly into a foreign town. On your tax dollars. To iron out a plan for the future of the planet.It's called the United Nations Climate Change Conference. And...Read More
The price of gold cannot decline and stay below the gold production costs. Myth or fact? We invite you to read our today's article about the mining costs and find out whether they provide a floor for gold prices. So if the central bank demand for gold is not able to boost the price, then maybe mines will help? We refer here to the popular narrative that the price of the yellow metal cannot dec...Read More
By RambusYesterday I posted this daily chart for the UUP suggesting that it could very well be building out a new uptrend channel with the current price action trading at the top rail where it has been chopping out the small blue rising wedge. Today we are getting some follow through to the downside.Below is the weekly chart which shows how the new uptrend channel could still be bullish over the...Read More
By Steve St. AngeloThere is no better way to describe what is currently taking place in the U.S. Shale Oil Industry, then a bloodbath. Unfortunately, if the situation wasn't bad enough for the shale oil industry when prices were 30-40% higher, today it's a complete disaster. While some might think that a bit of an overstatement, I can assure you that these low oil prices are doing serious...Read More
We'll be hearing a lot more about the "death cross" in the days ahead, mostly from business-channel pundits who know as much about stock charts as you and I do about particle physics. The death cross occurs when a trading vehicle's 50-day moving average falls beneath its 200-day moving average. It usually signals a big selloff ahead. If correct this time, the 4000-point plunge that has already...Read More
Just one request, please do not trade while drunk during the vacations. Merry Christmas. Enjoy the present and forget the past.Gold needs a close over $1260 and silver needs a close over $1490 today to zoom next week. Volumes will be there from Asia. Trading volumes will be down next week but not zero. Holiday goers will enjoy as petrol/diesel prices are low. The current market situation is that...Read More