By: Stewart Thomson, Graceland Updates1. Please click here now. Double-click to enlarge this long-term gold chart. Fundamental and technical analysis are both strongly supporting gold's rally towards the key $1400 area.2. Having said that, COMEX price action mainly reflects action in the physical market and this is the weak season for gold.3. Investors need patience. New...Read More
By: Dave KranzlerThe news headlines explained the sudden jump in the S&P futures this morning by stating that "recession fears had faded." Just like that. Overnight. I guess the fact that the housing starts report showed a 9% sequential drop in housing starts last month and and a year-over-year 10% plunge means that the housing market is no longer considered part of the economy.That report...Read More
By: DAVID Chapman "Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state." Carl Menger, economist, founder of the Austrian School of Economics, 1...Read More
Stocks erased their weekly gains and bond yields fell on Friday as investors reacted to a number of economic developments. Chief among them were a Treasury yield curve inversion, the first since before the financial crisis, and continued slowdown in the pace of U.S. manufacturing expansion.I had my eye on several other market-moving news items, some of which I share with you below. 1....Read More
COLORADO SPRINGS, Colorado, March 26, 2019 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the "Company") announced today its Nevada Mining Unit's exploration plans include targeted expansion of the Isabella Pearl (IP) open pit deposit by testing the adjacent Civit Cat North. Additional nearby targets with open pit potential include "Scarlet", where numerous high-grade...Read More
By: Avi GilburtBack in the 1940's, Ralph Nelson Elliott once noted:At best, news is the tardy recognition of forces that have already been at work for some time and is startling only to those unaware of the trend.So, rather than be startled by the news of the past week, I have been trying to warn anyone who was willing to listen that if you want to know what the Fed is going to do, simply read t...Read More
By: IRA EPSTEINGold pushing top of the Bollinger band resistance. Higher lows and higher highs, gold overbought but benefiting from...Read More
Buy Gold, Sell Stocks Is the Trade of Century is our latest weekly perspective. Watch this video on Buy Gold, Sell Stocks Is the Trade of CenturyThe "trade of the century" is to buy gold and sell stocks as risk assets are due for another meltdown.It's only a matter of time until the bearish bet pays off big, according to Crescat Capital LLC. While the Denver-based firm has only about $50 million...Read More
BBBY shorts may be using calls to guard against any more upside riskThe shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) are soaring today, after the Wall Street Journal said three activist investors -- Legion Partners Asset Management, Macellum Advisors, and Ancora Advisors -- are preparing to launch a proxy fight against the retailer's board of directors. The investor group, which collectively own...Read More
The stock has regained its footing on the charts after last December's bear gapAfter a tumultuous ending to 2018, blue chip Johnson & Johnson (NYSE:JNJ) appears to be on solid technical footing once again. The shares are currently trading just above the 40- and 160-day moving averages, along with a 61.8% Fibonacci retracement of their huge December bear gap. On top of this rosy technical picture,...Read More
NVDA has gained 45% since its late-December bottomNvidia Corporation (NASDAQ:NVDA) stock is up 4% to trade at $180.79, afterPiper Jaffray initiated coverage on the chipmaker withan "overweight" rating and $200 price target. The analyst in coverage sees Nvidia trading at an attractive level thanks to its market positioning with data centers and automotives, as well as the recent Mellanox acquisiti...Read More
Cronos reported its fourth-quarter results this morningThe shares of Cronos Group Inc (NASDAQ:CRON) are 1.7% lower at $20.18 this morning, after the cannabis concern posted a wider-than-expected fourth-quarter loss. Revenue also missed the consensus forecast, even as it soared 248% year-over-year. CRON stock hit an all-time-high of $25.10 in early February, and came back within striking distance...Read More
Short sellers are temporarily blocked from one of their recent favorite targetsShares of Conn's Inc (NASDAQ:CONN) have reversed their premarket gains, last seen down 6.3% at $22.36, after the company reported a fourth-quarter earnings beat, but fell short of revenue expectations as same-store sales declined 1.4% for the period. Today's post-earnings plunge has CONN stock retreating from a test of...Read More
Investors are keen for updates to U.S.-China trade talksDow Jones Industrial Average (DJI) futures are trading above fair value today, following Monday's hard-fought win for the blue-chip barometer. A double-dose of news has investors optimistic today. First, the yield on the 10-year Treasury note has stabilized near 2.4%, after the yield curve inversion last week incited panic selling. Second,hi...Read More
The Nasdaq-100 Index just bumped into an under-the-radar round numberRegular followers of our technical analysis are well aware that we tend to favor "under the radar" indicators -- say, the 320-day moving average over the 200-day, or the Relative Momentum Index (RMI) over the Relative Strength Index (RSI). By incorporating these less-popular metrics into our chart studies alongside the "usual sus...Read More
James Hyerczyk19 hours ago (Mar 26, 2019 6:00 AM GMT)Gold futures finished higher last week, supported by a steep drop in Treasury yields, a weaker U.S. Dollar and a drop in demand for higher risk assets. A dovish Fed was primarily responsible for the strength in gold. It fueled a rally when it decided to leave interest rates unchanged, pause further rate hikes in 2019 and slash its growth forecas...Read More
Currencies remain stuck in the mud... Gold gains yesterday and gives back its gains today... UGH! Good Day.. And a Tom Terrific Tuesday to you! Well, day one back in the saddle was OK, but getting up this morning was another story! I might as well, have rolled over and gone back to sleep, for there isn’t, once again, much movement in the currencies or metals… UGH! It...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Edgar Su | ReutersGold retreated on Tuesday from more than three-week highs in the previous session after the dollar rebounded and risk appetite and bond yields recovered as fears eased about a possible U.S. recession.Spot gold was down 0.36 percent at $1,316.99 per ounce as of 2:30 p.m. EST, after hitting its highest since Feb. 28 at $1,324.33 on M...Read More
Norsk Hydro's Alunorte alumina refinery, located in Brazil's northern state of Par??, is expected to operate at 75-80% of its capacity two months after the receipt of approval from the Brazilian federal court in Bel?(C)m, Norsk Hydro Brazil's executive vice president of bauxite and alumina said.According to John Thuestad, this approval, which will be debated at an April 4 meeting between Hydro and...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 26.Please click...Read More