What if all of the assumptions that people are making about this COVID pandemic are completely wrong? When Pfizer announced that they had developed a successful Continue...Read More
(Kitco News) - Gold is heading higher, but a meaningful move above the fleeting $1,300 an ounce level is looking possible only in late 2019, according to TD Securities’ 2019 Global Outlook.“Any meaningful rally is likely a story for late 2019,” TD Securities head of global strategy Bart Melek wrote in the outlook published on Monday. “The US dollar's strength relative to G1...Read More
Gold's currency component finally shows some improvement.A timely short interest increase is also a potential rally catalyst.The bulls must take advantage now to end gold's trading range.One of the biggest supports for gold in recent months is the tendency for bearish bets to pile up at the slightest sign of weakness in the metal. The pattern since August has been for short interest to sig...Read More
Gilts are on a tear as investors escape U.K. stocks and the pound. But a no-deal Brexit or a Corbyn government would soon change their status.By Mark Gilbert and Marcus Ashworth (via Bloomberg.com)British investors have been fleeing their domestic stock market in droves all year, and everyone and their dog lined up to sell sterling on Thursday as the tally of resignations from Theresa May's...Read More
Thanksgiving week has been marked by abrupt moves and long-term trend changing moves in metals and energies. This has happened most of the time (not all of the time) over the past fifteen years. I will prefer to be cautious in metals, natural gas and the US dollar Index this week. Technicals are fine but one should see signs of a trend changing technically. Global stocks could sink once again...Read More
(Kitco News) - Despite bitcoin falling below $5,000 on Monday, Ron Paul’s Twitter followers once again chose the popular cryptocurrency over gold in the former Republican Congressman’s annual Twitter poll.The conditions of the poll remained the same as last year: “A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift.”The catch was...Read More
Right now, the most explosive profit opportunity is concentrated in one segment of the legalized pot industry, and this extraordinary pot stock is getting ready to blow up. The marijuana industry is close to wrapping up a very exciting year for investors. Many solid cannabis companies hit major markets expanding their exposure.Also, with former attorney general Jeff Sessions out of office, this co...Read More
LONDON (Reuters) - Bitcoin fell below $5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered momentum.As of 1645 GMT the original cryptocurrency was down 8.7 percent at $5,100, after breaching the landmark for the first time since Oct. 12, 2017.Traders said selling was largely...Read More
Getty ImagesFederal Reserve Chairman Jerome Powell speaks during a Financial Stability Oversight Council meeting Oct.16, at the Treasury Department in Washington, D.C. It wasn't easy to parse the comments Federal Reserve Chairman Jerome Powell made in Dallas last week. Related: Fed watchers left puzzled by what Powell was trying to communicate But while he was in classic, two-handed economist...Read More
Don't miss out on the multi-billion-dollar "Marijuana Buyout Boom."One Fortune 500 company is betting over $4 BILLION on "legal weed."Constellation Brands already owns Corona, Robert Mondavi, Canadian Whiskey, and Svedka.And now they're getting into cannabis.They recently made a HUGE investment in major pot company called Canopy Growth.Why?Because they anticipate massive growth and profits once...Read More
Oil prices rose on reports the EU will back French sanctions on IranThe Dowdropped out of the gate and didn't look back, ending with a loss ofnearly 400 points. FAANG stocks continued to drag down the market, withFacebook (FB) and Apple (AAPL) among the worst hit. The former touched an annual low on more negative media attention, while the latter plummeted amid renewed concerns about iPhone deman...Read More
NEW YORK (Reuters) - The dollar dropped to two-week lows on Monday, pressured by cautious comments about the U.S. economy from Federal Reserve officials suggesting the central bank may be nearing the end of its tightening cycle.Against a basket of six major currencies, the greenback fell to 96.120, its lowest since Nov. 8, after falling nearly half a percent last week, its biggest weekly drop sinc...Read More
FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) processed payments for Danske Bank (DANSKE.CO) in Estonia but ended the relationship in 2015 after it found suspicious activity, a spokesman for the German lender said on Monday.“Our role was to process payments for Danske Bank,” he said. “We terminated the relationship in 2015 after identifying suspicious activity.”Reporting b...Read More
WASHINGTON (Reuters) - CNN on Monday called on a federal court to hold emergency proceedings after the White House said it would again revoke press access to correspondent Jim Acosta despite a temporary restraining order on Friday to reinstate him.Acosta’s credentials were revoked after Trump denounced him as a “rude, terrible person” during a Nov. 7 news conference. CNN challeng...Read More
(Kitco News)- Although optimism is starting to grow among gold traders,one technical analyst warns that it is still a little too early to turn overlybullish on the precious metal.In a recent interview with Kitco News, Greg Harmon, founderof Dragonfly Capital, said while gold has bounced off recent support at $1,220an ounce, prices need to push past their October highs above $1,246 an ounce,before...Read More
(Reuters) - Apple Inc (AAPL.O) has cut production orders in recent weeks for all three iPhone models launched in September, the Wall Street Journal reported on Monday, citing sources.A lower-than-expected demand for the new iPhones and Apple's decision to offer more models has made it difficult to anticipate the number of components and handsets the company needs, according to the WSJ report here...Read More
RIYADH (Reuters) - Saudi Arabia's King Salman will inaugurate the Waad Al-Shamaal mining project on Thursday, Alarabiya TV said on Twitter, quoting energy minister Khalid al-Falih.The project will cost 85 billion riyals ($22.7 billion) and will create 10,000 jobs, according to Falih. It is part of an industrial scheme aimed at opening up Saudi's north to development that will boost job creation.Sa...Read More
Strong words, aren't they? And yet, we are not afraid to put them right in the title. The number of factors (and their importance) that point to a nearby reversal and continuation of the major decline is too significant to believe in the bullish case, even though gold, silver, and mining stocks moved higher in the last few days. We emphasized it many times and we will continue to do so, as it&...Read More
NORTHWEST TERRITORIES - Toronto-based Nighthawk Gold completed almost 16,000 metres of drilling this summer at its Colomac gold project 220 km northwest of Yellowknife in the Indin Lake greenstone belt. The company says it continues to intersect broad zones of mineralization with higher grade centres.This year rather than focus on the northern half of the sill, Nighthawk tested several prospective...Read More
YOKOHAMA, Japan (Reuters) - Nissan Motor Co (7201.T) Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct and will be fired from the board this week, a dramatic fall for a leader hailed for rescuing the Japanese carmaker from close to bankruptcy.Ghosn is also chairman and chief executive of Nissan’s French partner Renault (RENA.PA) and his departure will raise questi...Read More