By Robert LambourneGold market activity by the Bank for International Settlements appears to have risen in May to its highest level in more than three years, according to the bank's statement of account for the month:https://www.bis.org/banking/balsheet/statofacc200531.pdfThe data in the May statement indicates that the BIS increased its position in gold swaps and gold-related derivatives by 84...Read More
By: Ira EpsteinGold is near some key resistance levels, where is the support if it fails to breakout?Read More
The US Dollar index is not a true measure ofvalue of the US dollar. It just tracks an “exchange rate” between the US dollarand a basket of significant fiat currencies.For a true measure of value of the US dollarit is better to look to Gold and Silver. However, there is a relationshipbetween significant Gold rallies and the US Dollar index.Gold has a tendency to rally at a certaintime i...Read More
The recentjob report is not reliable, but it shows recovery in the US labor market. Thesituation is still bad, but optimism could triumph for now, which is bad forgold. On Friday,the Bureau of Labor Services released the newest edition ofthe Employment Situation Report. The publication shows that the US economy regained 2.5 million jobs inMay, constituting the biggest nonfarm payroll surpris...Read More
Investors dumped paper gold and silver along with stocks, commodities, and most other asset classes in March. The price of silver dropped to $12.02/oz on March 18th and gold bottomed at $1,473/oz.The bullion banks – notorious for their concentrated short positions – might have made a killing. But that isn’t what happened. Some of the most prominent players took massive losses ins...Read More
Firstly, my long standing approach to Silver has been one of buying (accumulating) when the Silver price is cheap to invest to capitalise on long-term Spikes, as the silver price tends to be quite erratic in behaviour, prone to a lot of false signals so Silver can be a difficult market to trade i.e. tends to run stops and sharp movements contrary to the likes of Gold, just as we experienced during...Read More
By: Gary Savage Gold attacked last Friday, right on que. Gold is churning $1800 resistance zone. Banks still stuck in this huge short position:https://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold is $20 from new close highs! Gold negated downtrend on Tuesday, Wednesday trying to build an uptrend. The $1733 area is support on the 18-dma:Read More
Gold is on the way to $1836.70. Comments by Federal Reserve chairman at the Federal Reserve meeting is the reason. Correction of gold price in US session will come only if US weekly jobless numbers beats street expectations by a big margin. Selling gold and silver on the basis of US May nonfarm payrolls has resulted in short covering yesterday post FOMC surprise. I was focused more on copper and...Read More
All major indexes fell todayIn its worst day since March, the Dow dropped over 1,800 points after a spike in coronavirus cases leaves investors worried about a second wave, with now over 2 million in the U.S., according to data from Johns Hopkins University. Most notably, Texas has reported record-breaking COVID-19 hospitalizations for three consecutive days. Shares of stocks directly related to t...Read More
Beyond Meat announced expanded production capability with a new facility in the NetherlandsThe shares of Beyond Meat Co (NASDAQ: BYND) are down 6.9% at $143.72 this afternoon after the meat-alternative brand announced expanded local production capabilities in Europe through its first co-manufacturing facility in the Netherlands. The facility will produce the company's signature plant-based burge...Read More
The entertainment name is expected to post its first-quarter results after the close this eveningDave & Buster's Entertainment Inc (NASDAQ:PLAY) is in hot water ahead of its first-quarter earnings report, due out after the close this evening. The stock is down 15.02% at $14.71 this afternoon, pacing for its third consecutive win. On top of that, the equity is eyeing its first close south of the te...Read More
Attention will be focused on retail sales and weekly jobs dataThe economic calendar is looking somewhat bare next week, though investors will definitely have their eyes on another weekly employment update on Thursday, as well as retail data earlier in the week -- two indicators that have helped gauge the economic environment as lockdown measures continue to ease in the U.S. Elsewhere, the Organiza...Read More
Puts are double the usual volume in the options pitsLululemon Athletica Inc (NASDAQ:LULU) is set to enter the earnings confessional after the close today, June 11, posting its fiscal first-quarter results. The stock is down 3.6% ahead of the event, despite no fewer than five price target hikes this week, including from MKM Partners to $378 from $230.Despite the dip, LULU is still up 84.3% in the...Read More
A spike in coronavirus cases is sparking a selloff in the retail and airline sectorsThe Dow Jones Industrial Average (DJI) is down over 1,000 points at midday, as retail and flight stocks plummet amid a spike in coronavirus cases. While stay-at-home staples like Zoom (ZM) and Netflix (NFLX) are getting a boost on renewed anxieties surrounding thepandemic, it's not enough to help the tech-heavy...Read More
The EU filed charges against Amazon regarding the company's treatment of third-party sellersThe European Union (EU) is filing formal antitrust charges against Amazon.com, Inc. (NASDAQ:AMZN) alleging the e-commerce giant used data from third-party sellers to launch competing private-labels, according to Wall Street Journal sources. According to another report, if AMZN is found guilty, it could b...Read More
Just Eat Takeaway is planning on buying GrubHub in an all-stock dealIt was just announced that British-based food delivery name Just Eat Takeaway (JET) agreed to buy GrubHub Inc (NYSE:GRUB) in an all-stock deal worth $7.3 billion at JET's Tuesday closing price. Just Eat Takeaway beat out Uber Technologies (UBER) which was also vying for a deal with GrubHub. Meanwhile, GrubHub sent an email to empl...Read More
The most magical place on earth will reopen Disneyland Park and Disney California Adventure on July 17The shares of Walt Disney Co (NYSE: DIS) are down 3.6% at $117.68 this morning, after the so-called "most magical place on earth" announced it will reopen Disneyland Park and Disney California Adventure on July 17, pending approval from local and state authorities. The California theme parks h...Read More
There's been a spike in coronavirus cases in California and TexasFutures on the Dow Jones Industrial Average (DJI) are down over 800 points this morning, as Wall Street gets rocked by fears of a potential second wave of coronavirus amid a spike in cases from states such as California and Texas. Accordingto Johns Hopkins University, COVID-19 cases have crossed the 2 million mark, with over 112,000...Read More