Dhara RanasingheLONDON (Reuters) - The dollar wallowed near three-year lows on Friday as heightened fears of a U.S. government shutdown unnerved investors, while U.S. Treasury yields continued an upward march to hit their highest levels since September 2014.Legislation to stave off an imminent federal government shutdown encountered obstacles in the Senate late on Thursday, despite the passage of...Read More
Richard Cowan, Amanda BeckerWASHINGTON (Reuters) - Racing against a midnight deadline, the U.S. Congress will try on Friday to send President Donald Trump legislation to keep the government operating and avoid federal agency shutdowns that would otherwise begin on Saturday.The House of Representatives voted 230-197 on Thursday night for a bill to extend expiring funding through Feb. 16.But with te...Read More
* Gold, silver, palladium set for first weekly drop in six* Platinum on track for sixth weekly gain* Analysts cautious on gold as dollar weakness seen overdone(Recasts, adds comment, updates prices, changes dateline)By Maytaal AngelLONDON, Jan 19 (Reuters) - Gold prices rose half a percent on Friday as the dollar laboured near a three-year low amid heightened fears of a U.S. government shutdown, b...Read More
The holiday-shortened week has proved one thing, volatility is back, and the markets can actually go up and down. For the last couple of years with the equities going straight up, price volatility was missing in action as witnessed by the collapsing VIX, which made lows in 2017 under 9. That lack of volatility also impacted the metals, especially in the past 30 days as Gold went straight up from t...Read More
KAMPALA, Jan 19 (Reuters) - The Ugandan shilling was stable on Friday due to hard currency inflows from international aid agencies and farm commodity exporters, accompanied by slow demand from importers.At 1153 GMT, commercial banks quoted the shilling at 3,625/3,635, unchanged from Thursday's close. UGX Spot Rate..... Ugandan Shilling Money Guide.... Calculated Cross Rates.......... Deposits.......Read More
Canada's RosCan Minerals Corporation (TSXV: ROS) announced this week that as it explores for gold potential at the Dormaa Project in Ghana, it is also assembling a sizeable contiguous land package in the gold prospective Birimian rocks of western Mali.In a press release, RosCan explained that it has entered into a Letter of Intent with Touba Mining SARL to acquire a 100% interest in the 56 sq. km....Read More
Shares in GoldStone Resources (LON:GRL) jumped Friday after the gold miner announced it had began a project to potentially reopen the Akrokeri mine in Ghana, which has been shuttered for over a century.The old underground mine is located within the Akrokeri prospecting licence held by GoldStone, about 1.5 km south of two proposed pits. It was shut down in 1909, due to a high inflow of water.In t...Read More
Michelle Girard, NatWest Markets chief U.S. economist, discusses housing starts and jobless claims.Groundbreaking on new U.S. homes eased from the fastest pace in 13 months while permits held steady to finish the strongest year for housing construction in a decade, government figures showed Thursday.Highlights of Housing Starts (December)Residential starts fell 8.2% to a 1.19m annualized rate (est...Read More
Metal tends to rise January and February before Lunar New YearPrice hitched to dollar, strongest correlation since 2012Gold Soars as Crypto Currencies PlungeGold’s breakneck rally eased this week, but tailwinds in both physical and paper markets suggest it’s got room to run.Chinese New Year buying and option prices suggest the stars are aligning for the metal to extend its 6.6 percen...Read More
Treasury yields jump above 2.6% for the first time since MarchDollar drops with oil, copper rises on metals strength Amid the threat of rising yields "you can hedge that risk and try to hide," says Alberto Gallo of Algebris.U.S. stocks dipped one day after racing to all-time highs. The yield on 10-year Treasuries climbed above 2.6 percent for the first time since March, while the dollar failed to...Read More
The pot stakes just got higher. $132 billion higher, to be precise.A just-released study from New Frontier Data shows that legalizing marijuana at the federal level would create $132 billion in federal tax revenue and 1 million jobs.That's not even counting state and local tax revenues.Or the economic growth created by adding a million more jobs across the entire marijuana supply chain.No matter w...Read More
Bitcoin broke below $10,000 during a wild trading session yesterday, briefly sending the king of cryptos 50% below its December highs. That's crash territory, folks…But bitcoin speculators didn't capitulate. A new buying frenzy helped bitcoin recover most of its losses by the late afternoon. As of early this morning, one bitcoin fetched almost $12,000."The gyrations took the digital token ac...Read More
Are you wondering why oil is off to such a rousing start in 2018?Look no further than the chart below:This chart depicts where the level of oil in storage at Cushing, OK stands relative to the trailing five year average.You can see in early 2015 how that inventory quickly ramped up as OPEC increased production into an already oversupplied market — bearish for oil prices.You can also see just...Read More
CloseGain/LossOn WeekGold $1332.20+$5.90-0.43%Silver$17.02+$0.08-1.28%XAU87.97+0.46%-1.28%HUI196.93+0.20%-2.19%GDM662.24-0.01%-1.21%JSE Gold1297.69-11.87-2.53%USD90.67+0.15-0.31%Euro122.19-0.22+0.11%Yen90.42+0.26+0.43%Oil$63.37-$0.58-1.45%10-Year2.661%+0.041+4.43%Bond148.59375-0.84375-1.25%Dow26071.72+0.21%+1.04%Nasdaq7336.38+0.55%+1.04%S&P2810.30+0.44%+0.86% The Metals: Gold gained $11.60...Read More
By Ira EpsteinGold waits to see how Dollar reacts to whatever happens over government funding issue.https://www.iraepstein.com/ Read More
Click Here to Listen to the Interview - *the interview begins at 06:18Jim examines what the next financial crisis will look like and how it will be different from previous panics, gives us his outlook for gold and the key drivers for the yellow metal in part one of a tremendous two-part interview.Click Here to Listen to the Interview - *the interview begins at 06:18Jim Rickards is a lawyer, inve...Read More
By Gary TanashianAs symbolized by the 3 Amigos, the macro backdrop is riding on to its destiny. That forward destiny is a top in stocks vs. gold (Amigo 1), a rise in long-term interest rates to potential if not probable limits (Amigo 2) and an end to the yield curve's flattening trend (Amigo 3).When our zany friends complete the journey, big changes are likely in the macro markets.Let's take a c...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
By Ronan Manlyhttps://www.bullionstar.com/Recently, Russian television network RT extensively quoted me in a series of articles about the US Government's gold reserves. The RT articles, published on the RT.com website, were based on a series of questions RT put to me about various aspects of the official US gold reserves. These gold reserves are held by the US Treasury, mostly in the custody o...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort301,86390,15273,170158,202390,709533,235554,031Change from Prior Reporting Period 12,7024,2793,9008,10320,33924,70528,518Traders19091904457270206 Small Speculators LongShortOpen Interest 49,09828,302582,333 2,173-1,64026,878 non reportable positionsChange from the previous report...Read More