The comments above & below is an edited and abridged synopsis of an article by David StockmanAs explained in Part 1 (above), the most dangerous place on the planet financially is now the Wall Street casino. In the months ahead, it will become ground zero of the greatest monetary/fiscal collision in recorded history.For the first time ever, both the Fed and the US Treasury will be dumping massive a...Read More
The comments above & below is an edited and abridged synopsis of an article by David StockmanAfter several rises and falls, this time the soaring stock market is supposed to be different, because the art of central banking was perfected in what Wall Street called the Goldilocks Economy-a macroeconomic environment so stable, productive and balanced that it would never again be vulnerable to a reces...Read More
The comments above & below is an edited and abridged synopsis of an article by Gary ChristensonThis book examines 44 graphs and shows that US national debt and most prices have increased exponentially in the past 50-100 years. It shows why gold prices will reach $10,000, probably in the next decade. The book is available in paperback and Kindle on Amazon.The foreword by Bill Holter: Buy Gold Save...Read More
The comments above & below is an edited and abridged synopsis of an article by Tyler DurdenAfter tumbling in early December, gold has exploded higher since the Fed hiked rates on December 13, 2017, hitting $1,310 on Friday December 29, 2017-the highest since October 16. As gold has soared, the dollar index has collapsed.Interestingly, in the last month, gold and Bitcoin have seen a wild ride. The...Read More
CloseGain/LossGold $1314.90-$3.30Silver$17.14-$0.03XAU87.08-1.19%HUI197.35-0.63%GDM660.98-0.75%JSE Gold1338.73+21.37USD92.18+0.32Euro120.12-0.53Yen88.97-0.15Oil$61.63+$1.2610-Year2.440%-0.018T-Bond152.28125+0.53125Dow24922.68+0.40%Nasdaq7065.53+0.84%S&P2713.06+0.64% The Metals: Gold dropped $6.40 to $1311.80 in Asia before it rallied to $1317.80 in London and then fell back to a new sessio...Read More
- Gold posted second straight annual gain in USD in 2017- Gold in 2017: up 13.6% USD, up 2.7% GBP, down 1.4% EUR- 2017 is gold's best year since 29.5% gain in 2010- Strong performance despite rate hikes and stock bubble - India's gold imports surged 67% in 2017, Turkish, Chinese demand strong- Gold finished 2017 with longest rally since June 2016- 2018: Currency War and The Year of the Phoeni...Read More
FOMC minutes and other market moving US economic data releases are there till Friday. US December jobs numbers will positively affect the US dollar only if they indicate an interest rate hike in March. All incoming US economic data releases need to be looked from a March interest rate hike perspective. The US dollar will get another wave knock down if there is any indication of an interest rate...Read More
USD appreciates after Fed’s minutes. Gold drops almost $10, remains clearly above $1300. The yellow metal pulled back further after the release of the minutes from the latest Fed meeting when the US central bank decided to raise rates by 25bp. Gold dropped from $1,315.80/oz to $1,307.25 hitting a fresh daily low. The side took place amid a rally of the greenback on the back of...Read More
A U.S. court has dismissed Canadian gold miner Crystallex's lawsuit against asset transfers by Venezuelan-owned refiner Citgo as part of a long-running dispute over the South American nation's 2008 nationalization of the company's assets.Crystallex International Corp is seeking to collect $1.2 billion plus interest awarded in 2016 by a World Bank tribunal against Venezuela, which Venezuela has ref...Read More
Prince Harry's recent engagement combined with the massive success of Netflix's series The Crown has reignited people's and media's interest in the British monarchy.This is probably why newspapers and news sites around the UK paid special attention this week to the fact that later in 2018 the Clogau St David's mine, located near Bontddu in North Wales, might reopen after two decades of inactivity....Read More
Prince Harry's recent engagement combined with the massive success of Netflix's series The Crown has reignited people's and media's interest in the British monarchy.This is probably why newspapers and news sites around the UK paid special attention this week to the fact that later in 2018 the Clogau St David's mine, located near Bontddu in North Wales, might reopen after two decades of inactivity....Read More
When it comes to market sentiment, many traders believe their focus should be on now rather than later. It seems the overwhelming majority believe in focusing on data and events which are influencing markets currently, rather than focusing on future events. At least this sentiment appears standard as far as the Federal Reserve is concerned.Gold has been in a distinct and pronounced rally since the...Read More
Vancouver-based ML Gold Corp.(TSXV: MLG) announced that is has started a winter drilling program on the Stars property, located 40 kilometres south-west of Houston, British Columbia. The company acquired the mine in November from Pacific Empire Minerals Corp. and Divitiae Resources.In a press release, ML Gold informed that it has mobilized a diamond drill rig and drilling is underway. The program...Read More
In the wake of Tuesday's eleventh-hour record highs, bulls stayed the course in today's trading. Investors appeared to completely brush off some late-night nuclear brinksmanship on the part of President Donald Trump, with the VIX trading firmly lower throughout the course of the session. Meanwhile, the afternoon release of the latest Fed minutes didn't cause any major waves, with policymakers offe...Read More
(Reuters) - Bitcoin was the star of the white-knuckle ride that cryptocurrencies offered in 2017 but lesser-known names, such as Ripple and Ethereum, are seen gaining prominence in 2018.While bitcoin jumped more than 1,200 percent last year, Ripple, created by the founder of bitcoin exchange Mt Gox, surged 35,000 percent in the same period.That means $100 invested in Ripple in January 2017 would h...Read More
(Adds details on specific stocks, updates prices)* TSX finishes up 61.56 points, or 0.38 percent, at 16,371.55* Six of the TSX's 10 main groups move higher By Alastair SharpTORONTO, Jan 3 (Reuters) - Canada's main stock index notched its highest-ever close on Wednesday, boosted by a jump in shares of BlackBerry Ltd after it announced a self-driving deal with China's Baidu and by sharp gains for...Read More
Gold retraces a small part of yesterday's gains. Wall Street starts the day on a positive note. DXY edges higher toward 92 on upbeat data. After closing eight straight days with robust gains, the XAU/USD pair lost traction on Wednesday and pulled away from the highest level since mid-September that was set at $1321 yesterday. As of writing, the pair was trading at $1316.70, down 0.07% o...Read More
Editor's Note: View Kitco News' full 2018 outlook coverage (Kitco News)- "Steadyas she goes" will be the best way to describe the gold market in 2018 with themarket sensitive to upside surprises, according to researchers at Murenbeeld& Co.Chantelle Schieven Head of research at Murenbeeld & Co In aninterview with Kitco News, Chantelle Schieven, head of research at the firm,said that h...Read More
(Kitco News) - News that billionaire entrepreneur Peter Thiel’s Founders Fund bought “hundreds of millions of dollars” in cryptos, boosted bitcoin’s deflating price levels on Wednesday.Thiel’s fund purchased somewhere between $15 million to $20 million worth of digital currencies since mid-2017, the Wall Street Journal reported.Following the news, bitcoin prices surge...Read More
Getty ImagesFederal Reserve Chair Janet Yellen leaves after her last news conference in the leadership role on December 13. The Federal Reserve in December forecast three rate hikes in 2018 but minutes of that central bank meeting released Wednesday show a distinct lack of unity with the projection. The minutes portray two camps, of roughly the same size, who are both uncomfortable with the foreca...Read More