* Kuroda meeting expectations on reflating growth - Abe* Abe says undecided on next BOJ governor* Adds will do utmost to declare end to deflation* Govt, BOJ must fulfill responsibilities on deflation (Adds quotes, details of comments)By Leika KiharaTOKYO, Jan 7 (Reuters) - Japanese Prime Minister Shinzo Abe on Sunday called on central bank governor Haruhiko Kuroda to keep up efforts to reflate the...Read More
TOKYO, Jan 7 (Reuters) - Japanese Prime Minister Shinzo Abe said on Sunday he wants Bank of Japan Governor Haruhiko Kuroda to keep up efforts to reflate the economy, but added he was undecided on whether to reappoint Kuroda for another five-year term."Governor Kuroda has met my expectations with job availability at a 43-year high," Abe said in a programme by public broadcaster NHK."...Read More
BERLIN, Jan 7 (Reuters) - Volkswagen group sales probably rose to around 10.7 million cars last year and kept the German behemoth ahead of Toyota as the world's largest automaker, Bild am Sonntag reported, citing in-house VW estimates.Higher delivery figures across the group, which includes premium brands Audi and Porsche, helped drive revenue above 220 billion euros ($264.62 billion) for the firs...Read More
PHILADELPHIA, Jan 6 (Reuters) - The Federal Reserve should only as a last resort adjust interest rates to deal with financial instabilities thought to imperil the U.S. economy, and instead rely primarily on regulations and supervision, a top Fed official said on Saturday."While my preference (is) to start with the macroprudential tools that can be implemented more promptly, the limits on thes...Read More
The U.S. trade deficit in November reachedthe highest level in almost six years as an increase in importsexceeded a gain in shipments overseas, Commerce Department datashowed Friday.Highlights of Trade Balance (November)Gap grew 3.2% to $50.5b (est. $49.9b deficit) from a revised $48.9b in the prior month (prev. $48.7b)Imports rose 2.5% to a record $250.7b on more inbound shipments of consumer goo...Read More
Gain in payrolls is less than median projection of 190,000Unemployment rate holds at 4.1%, lowest level since 2000Bloomberg's Julie Hyman breaks down the December U.S. jobs report.U.S. payroll gains slowed by more than forecast in December, wages picked up slightly and the jobless rate held at the lowest level since 2000, adding to signs of a full-employment economy.Employers added 148,000 workers...Read More
Adam HamiltonArchivesJan 05, 2018 The gold miners' stocks have huge upside potential in 2018, likely the best among stock-market sectors. They really lagged gold last year, so a major mean-reversion catch-up rally is coming. The gold miners are universally ignored and deeply undervalued relative to the metal which drives their profits. And gold itself is likely to power dramatically higher this ye...Read More
The Dow Jones Industrial Average, the S&P 500 and the Nasdaq pushed further into record territory on Friday, Jan. 5, following a U.S. jobs report for December that came in weaker than expected. The U.S. created 148,000 jobs in December, the slowest pace in three months. Economists surveyed by FactSet expected 189,000 jobs to have been created. The unemployment rate in December held stea...Read More
Participants in a new Kitco News gold survey look for the precious metal to build on its gains next week, citing the soft U.S. jobs report released Friday and technical-chart momentum. Comex February gold topped the $1,300-an-ounce level on the final day of 2017 and has remained above this so far in 2018. The metal, helped by a soft U.S. dollar much of this week, temporarily bounced from overnig...Read More
There's more to come for 2018.Pot stocks enjoyed a nice rally to close out the year. Many of the stocks in the U.S. Marijuana Index charged higher in trading sessions through December.Overall, the U.S. pot index was up 13.15% the first few days of 2018.The bull run showed no signs of stopping.Then a bombshell dropped Thursday.The People Have Spoken - The Government Won't ListenTwenty-nine U.S. sta...Read More
While most investors remain fixated on the tech sector and the cryptocurrency boom, energy is looking like strong bet in 2018.Oil quietly topped $62 a barrel this week, posting new three year highs. This week's move caps off an impressive four-month comeback that has shot crude to gains of more than 32%. Sure, the days of $100 oil are long gone. But as this furious energy rally proves, the oil age...Read More
I’ve got one teenager with an active driver’s license and two teenagers in the “learning stage.”Sometimes I think I’m going to lose my sanity!The other day I was trying to give my son directions and I mentioned a major intersection near our house. It turned out, he didn’t even know the names of the streets!It’s not because he’s a bad driver. Quite th...Read More
The gold miners’ stockshave huge upside potential in 2018, likely the best among stock-marketsectors. They really lagged gold lastyear, so a major mean-reversion catch-up rally is coming. The gold miners are universally ignored anddeeply undervalued relative to the metal which drives their profits. And gold itself is likely to powerdramatically higher this year as euphoric...Read More
I keep reading articles claiming that inflation is nowhere to be found.If that is true, explain the following four charts.Copper has broken out of a 10-year downtrend. This chart suggests that Copper will be retesting its 2011 highs.Another inflationary industrial metal (steel) is posting a similar pattern.There is literally NOTHING bearish in that chart. The bear market in steel from 2010 onwards...Read More
The first trading days of2018 are confirming signs of renewed investor interest in the precious metalssector after a long period of malaise.Gold and silver markets entered theyear with some stealth momentum after quietly posting gains late in 2017. Goldfinished the year above $1,300/oz. – its best yearly close since 2012. Over the past five years,the yellow metal has been basing out in a ran...Read More
While the moniker for this missive is "Gold and Gold Miners", I just sit back in absolute AWE as the global equity investors (otherwise known as "Stock jockeys") have decided that "cash is TRASH!" and despite a massive "miss" in the employment numbers this morning, within seconds of the release, the spin doctors manning the equity trading desks deemed that number "bullish" because it is less infla...Read More
Our proprietary cycle indicator is up.To public readers of our updates, our cycle indicator is one of the most effective timing tool for traders and investors. It is not perfect, because periodically the market can be more volatile and can result in short term whipsaws. But overall, the cycle indicator provides us with a clear direction how we should be speculating.InvestorsDuring a major buy sign...Read More
By Trevor HunnicuttNEW YORK, Jan 5 (Reuters) - U.S. fund managers are ramping up efforts to tap into the fever surrounding digital assets, and the latest planned bitcoin products could deliver some head-turning and stomach-churning price movements if they come to market.The new idea is to build "leveraged" and "inverse" funds that would rise - or fall - twice as fast as the pri...Read More
CloseGain/LossOn WeekGold $1320.50-$1.40+1.33%Silver$17.20UNCH+1.53%XAU87.39-0.45%+2.49%HUI198.13-0.32%+3.03%GDM661.89-0.20%+1.73%JSE Gold1322.71+17.52+1.47%USD91.97+0.10-0.36%Euro120.42-0.26+0.32%Yen88.43-0.27-0.43%Oil$61.44-$0.57+1.69%10-Year2.477%+0.025+2.74%Bond151.9375-0.375-0.63%Dow25295.87+0.88%+2.33%Nasdaq7136.56+0.83%+3.38%S&P2743.15+0.70%+2.60% The Metals: Gold fell $5.70 to $131...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort241,42878,16060,048155,104332,704456,580470,912Change from Prior Reporting Period 38,83811,5182,405-36527,76640,87841,689Traders17086744552246183 Small Speculators LongShortOpen Interest 44,15129,819500,731 3,3832,57244,261 non reportable positionsChange from the previous reporti...Read More