Bulls should seek a move back above SPY $280 before getting aggressive"[W]e prefer to see a roll-over in the equity-only, buy-to-open put/call volume ratio before declaring the risk-reward scenario is favoring the bulls. Such patience likely means you will not catch the exact bottom, but it will also keep you out of situations like last week, in which bounces prove only temporary. Coincident with...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
The U.S. dollar rally has resumed in the wake of last week’s meeting ofthe Federal Open Market Committee, says Brown Brothers Harriman. “U.S. rates are headedhigher, while event risk in the euro zone and the U.K. remain in place,” BBHsays. Analysts say the news flow this week is expected to be dollar-supportive. Consensusestimates call for the October U.S. Consumer Price Ind...Read More
The U.S. dollar rally has resumed in the wake of last week’s meeting of the Federal Open Market Committee, says Brown Brothers Harriman. “U.S. rates are headed higher, while event risk in the euro zone and the U.K. remain in place,” BBH says. Analysts say the news flow this week is expected to be dollar-supportive. Consensus estimates call for the October U.S. Consumer Pric...Read More
Mr. Peter Grosskopf reportsPRECIOUS METAL INDUSTRY LEADERS APMEX AND SPROTT LAUNCH ONEGOLD, FIRST ONLINE MARKETPLACE TO SECURELY BUY, SELL AND REDEEM DIGITAL GOLD AND OTHER PRECIOUS METALSAPMEX Inc. and Sprott Inc. have launched the OneGold website, the first on-line marketplace to securely and conveniently buy, sell and redeem digital gold and other precious metals. Both partners bring decades of...Read More
Mr. Peter Grosskopf reportsPRECIOUS METAL INDUSTRY LEADERS APMEX AND SPROTT LAUNCH ONEGOLD, FIRST ONLINE MARKETPLACE TO SECURELY BUY, SELL AND REDEEM DIGITAL GOLD AND OTHER PRECIOUS METALSAPMEX Inc. and Sprott Inc. have launched the OneGold website, the first on-line marketplace to securely and conveniently buy, sell and redeem digital gold and other precious metals. Both partners bring decades of...Read More
(Kitco News) - Gold prices aremodestly down and hit a four-week low in early U.S. trading Monday, pressuredby a very strong U.S. dollar on the foreign exchange market. Silver prices arealso slightly down and hovering near a two-month low. December gold futures were last down $2.70 an ounce at $1,205.90. December Comex silver was last down$0.05 at $14.09 an ounce. Globalstock markets were mixed ov...Read More
The manipulation theorists have more fodder due to a recent development.Manipulation did not cause the standard market correction between 2011 and 2016.Market sentiment is the main driving factor in the metals market.There were several developments in the gold market this past week. First, we heard of another trader who has pleaded guilty to "manipulating" the metals market. And, everyone is up in...Read More
Mr. Glen Williams reportsSPROTT ANNOUNCES 2018 THIRD QUARTER RESULTSSprott Inc. has released its financial results for the three months ended Sept. 30, 2018. Financial overview (three-month results): Assets under management (AUM) were $10.1-billion as at Sept. 30, 2018, compared with $11.1-billion as at June 30, 2018.Investable capital stood at $193 million as at Sept. 30, 2018, compared with $29...Read More
Mr. Glen Williams reportsSPROTT ANNOUNCES 2018 THIRD QUARTER RESULTSSprott Inc. has released its financial results for the three months ended Sept. 30, 2018. Financial overview (three-month results): Assets under management (AUM) were $10.1-billion as at Sept. 30, 2018, compared with $11.1-billion as at June 30, 2018.Investable capital stood at $193 million as at Sept. 30, 2018, compared with $29...Read More
* Specs trim net short positions in gold in week to Nov. 6 * Dollar index hits over 16-month peak * GRAPHIC-2018 asset returns: (Updates prices)By Sumita LayekNov 12 (Reuters) - Gold fell for a seventh straight sessionon Monday, hitting its lowest in a month as the dollar jumped to16-month highs on the back of political uncertainty in Europeand the U.S. Federal Reserve's hawkish stance on interest...Read More
* Aluminium hits lowest since August 2017 * LME inventories of aluminium up 22 pct in a month (Updates with closing prices)By Eric OnstadLONDON, Nov 12 (Reuters) - Nickel fell to an 11-month low onMonday on worries about stainless steel, while other base metalswere pressured by uncertainty about the global economy.Aluminium touched the weakest since August last year asspeculators piled on more bea...Read More
* Dollar rises vs yen, franc, euro and Aussie * Greenback strength follows fed hawkish guidance * Sterling tumbles 1 pct on no-deal Brexit fears * Euro down 0.8 pct with Italy budget standoff in focus * Graphic: World FX rates in 2018 (Adds detail on Italy, updates prices)By Tom FinnLONDON, Nov 12 (Reuters) - The dollar rallied to a 16-monthhigh on Monday as investors positioned for a Federal Rese...Read More
* Brexit uncertainty hits pound, euro, buoys dollar * MSCI Asia Ex-Japan index down 0.5 pct * U.S. dollar hits new 16-month high * Weak China data, U.S. Fed rate hike expectations weigh * Oil prices surge on Saudi production cut plans(Updates prices, adds charts)By Sujata RaoLONDON, Nov 12 (Reuters) - The dollar surged to nearly17-month highs on Monday against a basket of major currencies asinvest...Read More
GOLD eyes additional price weakness towards 1,200.00 area in the new week. This is coming on the back of its past week losses. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targ...Read More
MOSCOW, Nov 12 (Reuters) - Russian gold and silver producerPolymetal has begun construction at its new Nezhdagold mine in eastern Siberia, which will contribute to itsdividends in 2022, it said on Monday.The London-listed firm, part-owned by businessman AlexanderNesis, is starting this new project with pre-production capitalexpenditures estimated at $234 million a few months after itlaunched its K...Read More
Gold fell sharply last week as the Fed reaffirmed policy tightening stance. The demand for gold call options (bullish bets) has dropped sharply in the last six days, adding credence to bearish technical setup. Gold (XAU/USD) is currently trading at $1,210, having dropped close to 2 percent last week. A major chunk of that drop happened on Friday - a day after the Fed reaffirmed its hawkish polic...Read More
PARIS, Nov 12 (Reuters) - Canadian Prime Minister JustinTrudeau said on Monday he had discussed U.S. steel and aluminiumtariffs with President Donald Trump over the weekend and that hehoped to reach a resolution on the matter by the G20 summit inArgentina."I absolutely brought up the issue of steel and aluminiumtariffs," Trudeau told a news conference in Paris on Monday.Trump and Trudeau...Read More
The Gold Shares ETF is struggling below a "death cross," but traders should buy weakness to my monthly and quarterly value levels of $111.60 and $110.26, respectively.The Commodities ETF suffered a correction of 13.7% since setting its 2018 high of $18.81 on Oct. 3.The Long Dollar ETF has been above a "golden cross" since May 31 and is approaching my risky level for November at $26.20.Here are the...Read More