While the use of gold to protectagainst inflation is well known, it has other investment attributes that arepotentially even more valuable, and this is particularly true in times of crisis.In this analysis, we will examine therelative performance of gold and stocks (as represented by the S&P 500)between early February and late May, as the coronavirus pandemic and theresulting economic shutdown...Read More
The US Dollar Index is getting close to thebreakdown that will signal a massive Silver rally. A type of Silver rally thatwas last seen in the 70s, when Silver went from around $5 to $50.The market has virtually completed a fullcycle to set up the next Silver rally. See this long-term US Dollar Index chart: On the chart, I havemarked two fractals (1 to 3), with a fractal virtually representing...Read More
Gold and Silver moved lower early on June 2nd and3rd. Our research teambelieves this is a “Washout Low” price rotation following a technical patternthat will prompt a much higher rally in precious metals. This type of washout price rotation is fairlycommon before very big moves after Pennant/Flag formations or just afterreaching major price trigger levels.With Gold, a sidew...Read More
Could 2020 end, please? The pandemic is not over and the US suffers now from mass riots across the country. They could aggravate the coronavirus crisis and increase the demand for gold. On May 26, a black man, George Floyd, was killed by the police in Minneapolis, Minnesota. During his arrest – he allegedly used earlier a $20 counterfeit bill in a nearby store – the police officer put...Read More
From the March 23rd low in the PM complex we’ve enjoyed the first easy part of this rally that should have many years to run yet. Every bull market will consist of an impulse move followed by a consolidation period, rinse and repeat until the bull market ends with some type of reversal pattern. Normally in a secular bull market the turning points will generally be very large to buildup the e...Read More
LONDON, 7 June 2020 - The dreadful Coronavirus Pandemic has spurred a jump in the number of people wanting to invest in gold, silver and platinum, reports today's Mail on Sunday - the UK's best-selling 'mid-market' newspaper - quoting data from BullionVault.This surge comes "despite a tail-off in the price of all three metals in the past couple of weeks," says the paper's personal finance editor J...Read More
Adam HamiltonArchivesJun 05, 2020 The gold miners' stocks just rolled over into a correction, raising concerns about the staying power of their massive post-panic upleg. These higher prevailing gold prices have driven very-strong fundamentals at the gold miners. But they are entering the seasonally-weak summer doldrums. And current sentiment and technicals play major roles in governing when uplegs...Read More
The most recent U.S. jobs report, which he believes is bound for revision, has Michael Ballanger musing on how economic policies are reflected or distorted in the precious metals markets. I was sitting in my den looking out over the swamp er lake tonight when it appeared as though something was flailing around near the shoreline. So I threw on my deck shoes and went for a stroll down to the water...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 272,19653,16237,007108,654365,277417,857455,446 Change from Prior Reporting Period -15,9522,928-2,944-23,323-41,022-42,219-41,038 Traders 20260715556284161 Small Speculators LongShortOpen Interest 57,88820,299475,745 -1,410-2,591-43,629 non reportable pos...Read More
By: Ira EpsteinGold is in a correction, but strong supports in the $1,600's:Read More
The Nasdaq hit a new record highStocks rallied to round out the week, thanks to an uplifting jobs report which shed light on the 2.5 million jobs that were added last month -- the largest gain on record. That report did much to fuel hopes of the beginning of economic recovery in the wake of the coronavirus pandemic. Of the three major indexes, the tech-heavy Nasdaq was the one most investors had...Read More
Investors weighed a mixed bag of jobs data The U.S. faced a tumultuous week as the country quickly turned its attention from U.S.-China relations to civil unrest, as protests against police brutality began in all fifty states following the death of George Floyd. The Dow Jones Industrial Average (DJI), the S&P 500 (SPX), and the Nasdaq Composite (IXIC) are all working toward a third straight w...Read More
Stitch Fix's fiscal third-quarter earnings are due out on MondayThe shares of online style service Stitch Fix Inc. (NASDAQ:SFIX) are up 1.4% at $25.50, ahead of the company's fiscal third-quarter earnings report, which is due out after the close on Monday, June 8. SFIX is pacing for a five-day win streak, though pressure at its year-to-date breakeven level is keeping this rally in check.More broad...Read More
AstraZeneca saw a rise in capacity for its COVID-19 vaccine candidateThe shares of AstraZeneca plc (NYSE:AZN) are up 0.2% at $53.99 this afternoon, amid news that the pharmaceutical company signed new agreements that will raise the global supply capacity for its COVID-19 vaccine candidate to more than 2 billion doses. A phase 2/3 trial of the drug has already began with around 10,000 volunteers,...Read More
The Dow and S&P 500 are both eyeing their biggest weekly wins since early AprilThis morning's uplifting jobs report is putting even more wind at Wall Street's back at midday. The Dow JonesIndustrial Average (DJI) is up nearly 1,000 points at last check, on track for a fifth straight win and biggest weekly win since early April. The S&P500 Index (SPX) and Nasdaq Composite (IXIC) are climbing...Read More
Gap reported a quarterly loss of nearly $1 billion after Coronavirus-related store closuresThe shares of Gap Inc. (NYSE: GPS) are trading on both sides of the aisle today, last seen at $12.14, after the retail company reported a steeper-than-expected first-quarter loss as well as revenue that came in lower-than-anticipated. The company's quarterly loss of nearly $1 billion is due to stores closi...Read More
Ciena reported an earnings and revenue beat yesterday morning and analysts are optimisticThe shares of Ciena Group (NYSE:CIEN) are up 1.7% at $54.79 at last check, following a fresh round of bull notes one day after the company's second-quarter earnings. The communications and networking name has seen no fewer than three price-target hikes this morning, the highest coming from Cowen to $73 from $6...Read More
DocuSign's (DOCU) first-quarter profits and revenue were better than Wall Street anticipatedThe shares of DocuSign Inc (NASDAQ:DOCU) are up 1% to trade at $141.52, after reporting positive results in the earnings confessional yesterday evening. The company reported fiscal first-quarter profits of 12 cents on revenue of $297.02 billion, both of which were higher than analysts' estimates. .In resp...Read More
Zumiez reported first-quarter losses and revenue that missed analysts' estimatesThe shares of Zumiez Inc (NASDAQ:ZUMZ) are off 4.1% to trade at $28 this morning, following the apparel retailer's first-quarter report. Zumiez posted losses of 84 cents per share and $137.77 million in revenue, missing analysts' estimates. The firm declined to provide a current-quarter forecast at this time, but added...Read More
The U.S. also surprisingly added jobs last monthFutures on the Dow Jones Industrial Average (DJI) are up nearly 600 points above fair value this morning, soaring after the U.S. Labor Department's May unemployment rate came in at 13.3%, much better than the anticipated 19.5% estimate.The report also showed that 2.5 million jobs were added last month, a surprise figure considering the expected loss...Read More