By: Ira EpsteinGold needs to get above $1729 to swing the trend, the August gold contract. Supports around $1688 then towards $1,660s:Read More
There will be short covering in gold if it rises today and till Thursday. In my view, most people are waiting to buy gold @1650. If gold prices manages to trade over $1700 till Thursday, then laggards will start to invest and gold price could be easily break past $1800. Bond yields, stocks and commodities can all rise at the same time. Free money supply is the key reason. Positive economic growt...Read More
The silver price has managed to recover from the Corona crash of 2020 with the price back within it's trading range of $17 to $20. Though contrary to the Silver bugs perma expectations for the Silver price to track the Gold price higher, that's not what usually tends to happen as the below graph illustrates,, which if you have followed my previous Silver analysis articles than you would know this...Read More
By: Ira EpsteinGold has strong support around $1653.50+ / 18 week moving average. Momentum rolled over. Read More
The Nasdaq hit another record highThe National Bureau of Economic Research (NBER) officially announced the U.S. entered a recession in February, resulting in the worst downturn since the Great Depression. The downturn ended a 128-month expansion, the longest in post-World War II history. Despite this grim news, stocks continued higher, as optimism over the reopening economy, particularly airline...Read More
AMC is set to report earnings after the close tomorrowAMC Entertainment Holdings Inc. (NYSE:AMC) will take its turn in the earnings confessional after the close tomorrow, June 9, posting its first-quarter results. The stock is getting a broad-market boost ahead of the event, up 8.8% to trade at $6.42 at last check, set to close atop the 150-day moving average for the first time in over a year. Sin...Read More
Plus, Cloudflare options are affordably priced at the momentThe shares of Cloudflare Inc (NYSE:NET) are down 1.1% to trade at $29.10 at last check, taking an extended breather from their May 15 all-time high of $30.78. In fact, NET has taken a 3.7% haircut in the last five trading days. The good news is that this pullback has brought the I.T. stock within a historically bullish trendline.Accordin...Read More
Calls are booming for the popular space tourism stockListed below are 20 stocks that have attracted the highest weekly options volume over the last 10 trading days thanks to data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White -- who also highlighted new entrants in yellow. Standing out this week is Virgin Galactic Holdings Inc (NYSE:SPCE), a company that investors have kept a cl...Read More
The Dow is up over 290 points middayStock's are extending their morning gains into midday, looking to piggyback off of last week's wild rally. The Dow JonesIndustrial Average (DJI) is up over 290 points, while the S&P500 Index (SPX) and Nasdaq Composite (IXIC) are also trading well above breakeven at the halfway point. Optimism over the economy's reopening remains strong, with airline and ret...Read More
MIK received a price-target hike from Credit Suisse, tooThe shares of craft retailer Michaels Companies Inc (NASDAQ:MIK) are up 35.9% at $7.49 at last check --one of the best stocks on the New York Stock Exchange (NYSE) so far today -- fighting further out of the penny stock range. Today's rise comes after J.P. Morgan added MIK to its analyst focus list, upgrading it to "overweight" from "neutral...Read More
Mark Zuckerberg said he would explore ideas to advance racial justice and voter engagement on the platformThe shares of Facebook, Inc. (NASDAQ: FB) are down 0.05% at $229.62 this morning, after CEO Mark Zuckerberg announced on Friday he would review the social platform's content policies and explore ideas to advance racial justice and voter engagement. Until then, Zuckerberg had maintained he woul...Read More
Thor Industries' third-quarter profits and revenue were better than Wall Street expectedThor Industries, Inc. (NYSE:THO) stepped up to the earnings plate this morning and knocked it out of the park, reporting fiscal third-quarter profits of 43 cents on revenue of $1.68 billion, both of which came in higher than Wall Street's estimates. Additionally, the recreational vehicle manufacturer said it w...Read More
The equity hit a record high atop the $331 level last weekApple Inc. (NASDAQ:AAPL) stock is taking a step back from Friday's all-time highs atop the $331 level, off 0.2% at $330.70 at last check. This move comes amid news that users of the tech giant's Apple Card will soon be able to pay for some of its products, including iPads and AirPods, in monthly, interest-free increments. Users with an Appl...Read More
Dow futures are up over 200 points this morningFutures on the Dow Jones Industrial Average (DJI) are up over 200 points above fair value this morning, bolstered by continued economic reopenings across the U.S. S&P 500 Index (SPX) futures are inching higherwhile Nasdaq-100 Index (NDX) futures struggle for direction, as optimism carries over from Friday's record-breaking highs in the wake of an u...Read More
NEWS &VIEWSForecasts, Commentary & Analysis on the Economy and Precious MetalsCelebrating our 47h year in the gold businessJUNE 2020By Michael Kosares, USAGOLD"To propose a return of inflation is to be inflammatory," writes Lightman Investment Management's Rob Burnett in an opinion piece for the Financial Times. "Investors are committed to a deflationary thesis and such is their fervor tha...Read More
YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM The gold price was up a small handful of dollar by around 8:30 a.m. China Standard Time on their Friday morning...but then the selling pressure commenced. It continued quietly lower until it touched the $1,700 spot mark around 11:15 a.m. in London -- and then jumped a bit higher at that point. The unbelievable jobs report hit the tape at 8:30...Read More
Dear Friend of GATA and Gold:A European friend well known to us who prefers not to fall under even more surveillance in his own country sends the observations below, for which your secretary/treasurer will take the responsibility of sharing with you.His main point -- that huge volatility will be injected into the gold market to facilitate government intervention elsewhere in the world financial...Read More
By: Ira EpsteinGold has strong support around $1653.50+ / 18 week moving average. Momentum rolled over. Read More
Double EffectSecondary ConsequencesEven if We Get a Vaccine...Bottom LineShould you wear a mask in public? This seemingly simple question immediately generates emotional, political, and social anxiety.It is just one of many provocative questions COVID-19 is forcing upon us. They should be simple, data-driven policy issues but many are not.Today's letter is in a different format from the usual T...Read More