"A foolish consistency is the hobgoblin of little minds," claimed Emerson.If true, President Trump's un-hobgoblinned mind is vast enough to overspill the Grand Canyon."TO OUR VERY FOOLISH LEADER," citizen Trump counseled president No. 44 in 2013, "DO NOT ATTACK SYRIA - IF YOU DO MANY VERY BAD THINGS WILL HAPPEN & FROM THAT FIGHT THE U.S. GETS NOTHING!"The president would first require congress...Read More
Chinese President Xi Jinping said on Tuesday he plans to open the country's economy further and decrease import tariffs on products including cars,Continue...Read More
Continue...Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he worked on the floor of the...Read More
Readers know that I have beaten this drum alltoo often. Gold’s major fundamental driver is declining or negative real rates.There is a strong inverse correlation because Gold is money. That’s what JPMorgan said and he’s far more qualified to understand than quotable celebritieslike Mark Cuban. But I digress. When real rates are increasing or stronglypositive (during most of the 1...Read More
SLV along with the PM stocks have been under performing gold in a pretty significant way. Normally you would like to see the PM stocks outperforming gold on the front end of a bull market similar to what we saw back in the beginning of the 2000 bull market in the PM complex. So far that hasn’t been the case.Below is a weekly chart for SLV we’ve been following for a long time now as it...Read More
We were recently asked if theprice of gold is likely to rally because of the increased volatility in stocks. This seems believable at thefirst sight, as gold is seen as a safe-haven asset and thus people could bebuying itwhen the stock market’s movement becomes chaotic, scary and/or unpredictable. So,the stock market’s volatile decline in the recent days is likely to become thecatalyst...Read More
Precious metals expert Michael Ballanger discusses Donald Trump's trade war with China and the implications for the gold market. When I played pro hockey in Richmond, Virgina, it was during the era of "Slapshot!" and the Broad Street Bullies when gooning (fighting) was fashionable and an integral part of the sport. Stocking your team with two-or three enforcers meant that the finesse players could...Read More
(Kitco News) - Gold bulls are once again disappointed with the yellow metal’s lack of stride in breaching its key resistance of $1,355 an ounce, Saxo Bank said, adding that the precious metal is being restrained by white metals’ poor performance.“Gold's recent performance has once again been disappointing the bulls who have been backing the yellow metal through increased long pos...Read More
Volatility gauges for gold, palladium climb to 1-year highInvestors are pricing in risk premium, TD's Bart Melek saysDonald Trump’s trade policies are breathing new life into precious metals.Measures of 60-day historical volatility for gold and palladium futures climbed to the highest in about a year. Volatility in silver also increased. Prices were whipsawed last week as Trump administrati...Read More
(Kitco News) - All the trade war rhetoric between the U.S. and China is creating demand for gold, with Chinese investors embracing gold ETFs as a safe-haven option in case things get worse.China’s Bosera Gold ETF is on track to see biggest gains since being listed in Shenzhen in 2014 after already adding $553.8 million this year, Bloomberg reported.Bosera is the top third commodity ETF of 20...Read More
Tech strength drives equities higher, metals and oil gainChina said to weigh yuan depreciation; Hang Seng up over 1%Pelosky Global Advisors Sees a 'Real Opportunity in Small CapsThe rally in U.S. stocks faltered in the final hour of trading, with a report that federal agents raided the offices of President Donald Trump’s lawyer adding to the swoon. Equities finished higher on the strength o...Read More
ACCRA (Reuters) - Six construction workers have been killed in an accident at Newmont’s Ahafo gold mine in Ghana, forcing the surface mine to suspend its operations, a local Newmont manager said on Sunday.The workers died after a tunnel roof collapsed on them at the construction site of an expanded gold processing plant on Saturday.Two others who sustained minor injuries are out of hospital,...Read More
Matt Spetalnick, David BrunnstromWASHINGTON (Reuters) - North Korea has told the United States for the first time that it is prepared to discuss the denuclearization of the Korean Peninsula when North Korean leader Kim Jong Un meets President Donald Trump, a U.S. official said on Sunday.U.S. and North Korean officials have held secret contacts recently in which Pyongyang directly confirmed its wil...Read More
Andrew Torchia, Bernardo VizcainoDUBAI/SYDNEY (Reuters) - In Dubai’s decades-old Gold Souk, customers from around the world haggle over bangles and necklaces. Elsewhere in the emirate, the region’s top center for gold trade, bullion is playing a new role in financial engineering.A local start-up company founded last year, OneGram, is issuing a gold-backed cryptocurrency — part of...Read More
Tom PolansekCHICAGO (Reuters) - Chicago Federal Reserve Bank President Charles Evans, one of the Fed’s most dovish policymakers, said Saturday that he is optimistic inflation will reach the Fed’s 2 percent goal and that slow, gradual rate increases will be appropriate.“Fiscal policy has been much more supportive of further growth and so the need for accommodative monetary policy...Read More
BEIJING (Reuters) - Chinese state media on Sunday called on industrial and commercial sectors in the United States to rally against President Donald Trump’s plans for an additional $100 billion in tariffs against Chinese goods.Trump threatened the extra tariffs after China last week imposed $3 billion of tariffs on U.S. fruits, nuts, wine and pork, just hours after the United States unveiled...Read More
Michelle Price, Sarah N. LynchWASHINGTON (Reuters) - U.S. President Donald Trump predicted on Sunday that China would take down its trade barriers, expressing optimism despite escalating trade tensions between the world’s two largest economies that have roiled global markets in the past week.The two countries have threatened each other with tens of billions of dollars’ worth of tariffs...Read More
Six people were killed and two were injured after the roof of the reclaim tunnel at the Ahafo Mill Expansion project in Ghana collapsed. The project is run by US-based Newmont Mining Corporation (NYSE: NEM).The site is located in the Brong Ahafo region, some 307 kilometres from Accra. Other workers were evacuated and operations have been suspended to allow for an investigation into the causes of t...Read More
The former first lady's police report did not deter them. Quite the opposite happened. Local media in Zimbabwe report today that a larger group of artisanal miners has settled on Grace Mugabe's farm in Mazowe, about 40 kilometres north of Harare. The miners say they won't leave unless president Emmerson Mnangagwa asks them to.The new arrivals have started digging for gold using pickaxes, hoes and...Read More
Investing.com - Gold prices may continue to be underpinned by safe haven demand and a softer dollar in the coming week after rising on Friday amid renewed fears over trade tensions between the U.S. and China and after a weaker than expected U.S. jobs report.Metals traders will be watching developments relating to trade policy as tensions between the world’s two largest economies continue to...Read More