Billionaire hedge fund manager John Paulson's success in ousting the bulk of Detour Gold Corp's board could serve as a "template" for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday.The Canadian mining company's shareholders voted for five board nominees backed by Paulson & Co at a special meeting on Thursday, and Detour's interim chief exe...Read More
Core retail sales in the U.S. soared in November, but data from Beijing was soberingFear is spiking this morning, as a dismal batch of economic data out of China sparks concerns over the impact of trade tensions on the global economy. This is offsetting news Beijing agreed to suspend auto tariffs for 90 days beginning Jan. 1, as well as a much stronger-than-expected 0.9% surge in core U.S. retail...Read More
iStockphotoRow of quaint A-Frame homes in a Pacific Northwestern suburban neighborhood. Rates for home loans tumbled for a third week, offering a glimmer of hope for would-be buyers. The 30-year fixed-rate mortgage averaged 4.63% in the Dec. 13 week, down 12 basis points and touching its lowest since September, mortgage liquidity provider Freddie Mac said Thursday. The 15-year fixed-rate mortg...Read More
U.S. production of lithium is set to increase 1,300% in the next 2 years.Who wouldn't be happy with 614% gains in a very short amount of time?Well that's what one lithium mining stock did in just under 12 months. But only Australians could reap the rewards of that slam-dunk.Until now that is. The very same "secret sauce" that led to that stock's meteoric rise is now being implemented here in Ameri...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, is acquiring 12,600,000 common shares of fellow junior miner Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects on South America's North Atlantic coast.The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Q...Read More
Fred Imbert | Sam Meredith | Yen Nee LeePublished 18 Hours AgoUpdated2 Hours AgoCNBC.com show chapters Markets slump on fears of a global slowdown — Four experts on what to watch next 5 Hours Ago |03:17 Stocks fell sharply on Friday after weaker-than-expected data in China and Europe exacerbated concerns of a global economic slowdown.The Dow Jones Industrial Average fell...Read More
Published 20 Hours AgoUpdated6 Hours AgoReuters Gold fell to its lowest in more than a week on Friday and was on track to mark its biggest weekly decline in more than a month, as the dollar climbed on robust U.S. economic data ahead of a U.S. Federal Reserve meeting next week.Spot gold eased 0.3 percent to $1,238.86 per ounce as of 11:14 a.m. EST (1614 GMT). Earlier in the session, prices hit thei...Read More
China on Friday reported industrial output and retail sales growth for the month of November that missed expectations, according to data from the National Bureau of Statistics.The world's second-largest economy has begun to show signs of slowing down amid a bitter trade dispute with the U.S.Huileng Tan| @huileng_tanPublished 23 Hours AgoUpdated9 Hours AgoCNBC.com show chapters China to suspend...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose Thursday as Wall Street expressed optimism over U.S. and China trade talks. General Electric Co. (GE) jumped 7% after JPMorgan analyst Stephen Tusa lifted his rating on the stock to "neutral" from "underweight." -Apple Inc. (AAPL) said Thursday it would invest $1 billion to build a ne...Read More
Gold prices have declined so far this year. But 2019 and 2020 should be positive again because analysts at ABN AMRO expect a lower dollar, lower US Treasury yields, a recovery of the Chinese yuan and higher jewellery demand. Speculators are expected to cut their substantial short positions and gold prices should rise to above the 200-day moving average. We keep our year-end tar...Read More
Silver prices have declined by 14% and speculators hold extreme short positions. Silver prices have seen the worst and ABN AMRO analysts are positive on silver outlook, because of lower dollar, lower US Treasury yields and recovery in the Chinese yuan.So far year-to-date silver prices have been the weakest among precious metal prices. They have declined by more than 14%. Silver prices ha...Read More
In this video Dave Lerman, Director of Education at CME Group, discusses the benefits of trading gold futures vs. ETFs or the OTC market. Learn more: https://institute.cmegroup.com/ Follow us: Twitter: https://twitter.com/CMEActiveTraderFacebook: http://www.facebook.com/CMEGroup CME Group is the world's leading and most diverse derivatives marketplace, offering the widest range of global ben...Read More
While a rate hike is likely to happen at the next Federal Reserve Meeting next week, a more dovish tone is expected in 2019, said Peter Hug, global trading director of Kitco Metals. We think the Fed is going to back off in 2019 and it appears that a lot of analysts are indicating that the Fed is going to be much more dovish coming into 2019, "We think the Fed is going to back off in 2019 and it...Read More
CloseGain/LossOn WeekGold $1238.30-$4.60-0.81%Silver$14.58-$0.19-0.34%XAU67.59-1.69%-0.52%HUI152.66-2.56%-0.83%GDM560.45-1.47%+0.07%JSE Gold1302.25+3.60+8.42%USD97.46+0.39+0.89%Euro113.05-0.59-0.92%Yen88.23+0.20-0.64%Oil$51.20-$1.38-2.68%10-Year2.893%-0.016+1.30%Bond143.4375+0.40625-0.33%Dow24100.51-2.02%-1.18%Nasdaq6910.66-2.26%-0.84%S&P2599.95-1.91%-1.26% The Metals: Go...Read More
Despite all the ominous press being devoted to the soon-to-be-inverted yield curve, it's not always clear why such a thing matters. In other words, how, exactly does a line on a graph slipping below zero translate into a recession and equities bear market, with all the turmoil that those things imply? The answer (which is both simple and really easy to illustrate with charts) is that banks - the...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort169,600109,10153,101134,285211,653356,986373,855Change from Prior Reporting Period -3,419-14,917772-78218,337-3,4294,192Traders16881704851247176 Small Speculators (C) GoldSeek.com LongShortOpen Interest 45,26428,395402,250 5,760-1,8612,331 non reportable positionsChange from...Read More
By David Brady, CFASHORT TERM: 0 - 30 DAYS We all know that positioning and sentiment are bullish for Gold and have been since May. Hence the need to focus on the technical picture. As I reported last week, Gold is in a Bear Flag following its drop from 1369 in April to 1167 in October. It touched channel resistance at 1257 on Monday, but the closing high was 1253, strong Fibonacci resistance. G...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome in Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente's perhaps the most well-known trends forecaster in the world and it's always a joy to speak with him. Mr. Celente, thanks for the time again today and welcome back.Gerald Celente: Always great being on with you, thank you.Mike Gleason:...Read More
The beleaguered gold stocks are recovering from their late-summer capitulation, enjoying a solid young upleg as investors gradually return. Their buying has pushed the leading gold-stock ETF near a major triple breakout technically. That event should really boost capital inflows into this sector, accelerating the rally. A major gold and gold-stock buying catalyst is likely imminent too, a...Read More
By Marin KatusaA surprise event with a major impact is known as a Black Swan.The theory was made famous by Nassim Taleb in his books Fooled by Randomness and later in The Black Swan. In his books, Nassim argues that many of the world's greatest feats are in fact black swan events.In the finance world, fortunes are made by those who anticipate Black Swans and lost by those who don't.A relatively...Read More