LONDON, 13 October 2018 - BullionVault analysis is quoted today by The Times, the UK's longest-running and now best-read 'quality' daily newspaper."Gold tends to do well when other investments are doing poorly," says The Times, quoting Adrian Ash, director of research at BullionVault.Looking at what drives prices, "What really counts in the end is investment demand, where money comes into the bull...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort179,746217,92163,757174,309148,443417,812430,121Change from Prior Reporting Period -12,7443,60915,1284,938-12,0537,3226,684Traders172103755654260203 Small Speculators (C) GoldSeek.com LongShortOpen Interest 47,44135,132465,253 -1,845-1,2075,477 non reportable positionsChange f...Read More
News, Commentary, Charts and Videos You May Have MissedHere is our Friday digest of the important news, commentary, charts and videos we were informed by this week.Market jitters and volatility have returned this week and the sell-off in US government bonds led to sharp falls on Wall Street centered on the very overvalued tech sector and the NASDAQ.(Bloomberg)Gold is 1.3% higher for the week as...Read More
Goldhad one of its most dynamic days yesterday as it opened below $1,200 per ounceand closed $30 higher, settling at $1,227 per ounce. Today gold prices haveretreated slightly, giving back a measured portion of yesterday's gains. As of 4:35 PM Eastern standard time, gold futures arecurrently down $6.30, with the most active December Comex contract fixed at $1,221.30. Yesterday'sstrong uptick and p...Read More
Bank earnings drove early upside in today's sessionFollowing this week's brutal two-day sell-off, U.S. stocks managed to finish today comfortably higher. The Dow got an early boost from well-received JPMorgan earnings -- though the blue-chip bank erased its gains by the close -- and FAANG stocks also snapped back from their recent losses. However, sentiment remained skittish, with the major equity...Read More
NEW YORK (Reuters) - Stock markets worldwide bounced back on Friday after a multi-day sell-off but remained on track for their biggest weekly losses in months, while U.S. Treasury yields inched higher and the dollar held its gains.Wall Street rose as investors returned to technology and other growth sectors, but gains were limited by ongoing worries about U.S.-China trade tensions and rising inter...Read More
WASHINGTON (Reuters) - Alphabet Inc’s (GOOGL.O) Google unit has told U.S. lawmakers it is considering “a variety of options” for offering additional services in China.The company has come under criticism after reports it is considering re-entering the Chinese search engine market and would agree to comply with China’s internet censorship and surveillance policies.In an Aug....Read More
(Reuters) - Wall Street rose on Friday after a bounce in technology and other high-growth stocks led a fight back from its worst two-day slide in eight months, while early gains from strong earnings of the biggest U.S. lenders faded.PNC Financial (PNC.N) led the losses among bank stocks with a 6.3 percent drop after the regional bank reported disappointing quarterly loan growth and said it expecte...Read More
(Reuters) - Wells Fargo & Co (WFC.N) posted a 32 percent jump in quarterly profit on Friday, as the bank made headway in its cost-cutting plan and worked to put past misdeeds behind it.Non-interest expenses in the third quarter fell 4.1 percent to $13.8 billion, in the first year-over-year decline this year.Wells Fargo, the fourth largest U.S. lender by assets, has vowed to chop billions of co...Read More
Meanwhile, IOVA is rallying on a favorable FDA updateThe U.S. stock market rallied out of the gate, but was last seen down from its earlier highs. Three stocks making notables moves today are health-centered direct selling specialist Youngevity International Inc (NASDAQ:YGYI), biotech Iovance Biotherapeutics Inc (NASDAQ:IOVA), and financial concern PNC Financial Services Group Inc (NYSE:PNC). Her...Read More
SAN FRANCISCO (Reuters) - As Wall Street steadied on Friday after its worst two-day slide in eight months, the U.S. stock market remained fragile, with nearly three quarters of the S&P 500's .SPX components in correction territory, or worse.Following Wednesday and Thursday's 5-percent rout on the S&P 500, the leading benchmark index is down nearly 7 percent from its record high close on...Read More
(Reuters) - The U.S. National Security Agency’s top oversight official, Robert Storch, is working to repair the spy agency’s reputation with whistleblowers in an effort to encourage staff to report wrongdoing internally, rather than go public.“It’s really important we encourage whistleblowers to come forward and that they feel comfortable doing so and if there are allegatio...Read More
The drop in AAII bulls could be a buy signal for the stock marketAs the U.S. stock market began its recent reversal, Wall Street bulls hit the exits at a rapid-fire rate. In fact, the National Association of Active Investment Managers (NAAIM) exposure index dropped by nearly 32 points, or 37%, last week -- the biggest point drop since August 2013, and the biggest percentage drop since February 201...Read More
SANTIAGO, Oct 12 (Reuters) - Chile's environmental court on Friday ordered Canada's Barrick Gold Corp to definitively close the Chilean side of its stalled Pascua-Lama mining project, a final procedural step that draws a line under a long-running saga.The court, sitting in the northern Chilean city of Antofagasta, approved by two votes to one the closure of the polemical project that straddles the...Read More
Gold prices ended lower on Friday, pulling back from their highest level in more than two months as U.S. and global stocks moved up in the wake of a two-day downturn that drove investors to the perceived safety of the precious metal. December gold GCZ8, -0.49% declined by $5.60, or nearly 0.5%, to settle at $1,222 an ounce, a day after its highest finish since Aug. 1, for a most-active contract,...Read More
Gold prices ended lower on Friday, pulling back from their highest level in more than two months as U.S. and global stocks moved up in the wake of a two-day downturn that drove investors to the perceived safety of the precious metal. December gold GCZ8, -0.49% declined by $5.60, or nearly 0.5%, to settle at $1,222 an ounce, a day after its highest finish since Aug. 1, for a most-active contract,...Read More
(Kitco News) - Gold is going up from here, according to one strategist. It might not be in a straight line, but brighter days are ahead for the yellow metal, with the worst behind it.“Gold will benefit going into the end of the year as well as beyond,” RBC Capital Markets commodity strategist Christopher Louney told Kitco News on Thursday. “There’s plenty of room for gold t...Read More
AAPL logged a two-day decline of 5.5% on Wednesday and ThursdayThe tech sector got hit particularly hard during the heavy selling on Wall Street this week. This recent pullback has likely created several bullish trading opportunities, too, with Apple Inc. (NASDAQ:AAPL) falling 5.5% from its Oct. 9 close of $226.87 to its Oct. 11 settlement at $214.45. The FAANG stock is bouncing back fast, though...Read More
DUBAI/LONDON (Reuters) - U.S. Treasury Secretary Steven Mnuchin and Wall Street banks will show up at an elite Saudi investment conference this month despite a growing exodus of top media companies and business leaders after the disappearance of a Saudi journalist.Mnuchin’s plan to attend the high-profile Future Investment Initiative conference in Riyadh follows U.S. President Donald Trump&r...Read More
This week's downturn could yield rallies from several stocksStocks earlier this week were clobbered, turning in their worst day in months. However, many individual stocks have flashed bullish signals in the wake of the bloodbath. If past is precedent, two healthcare names could climb into November: drugmaker Incyte Corporation (NASDAQ:INCY) and medical device maker ABIOMED, Inc. (NASDAQ:ABMD). Bot...Read More