It appears that no matter how restrictions are eventually lifted, many will be exercising extreme caution as they assess the ongoing risks posed to them by covid-19. Continue...Read More
"Much like the Chinese Communist Party has threatened to cut off the U.S. from life-saving medicines made in China, the Chinese Communist Party could also cut off our access to these materials, significantlyContinue...Read More
Short-term, the gold price is being capped as investors assess the impact of the easing of restrictions. Longer-term, however, investors are being patientContinue...Read More
Frank Holmes covers gold, natural resources and emerging markets, melding macro ideas, such as supercycles, government policies and behavioral finance, to investment opportunities.Continue...Read More
The import prices for steel billet and rebar in the United Arab Emirates increased slightly over the past week, while demand was weak because of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, market sources said on Tuesday May 12.Market participants in the United Arab Emirates (UAE) believe demand is unlikely to improve before late May, when Ramadan will end. Local rebar...Read More
Brien Lundin, sector expert and publisher of the Gold Newsletter, offers his perspective on the monetary ramifications of the COVID-19 pandemic in this conversation with Maurice Jackson of Proven and Probable. Maurice Jackson: Today we will discuss the 2020 financial crisis and investment opportunities for your portfolio. Joining us for a conversation is Brien Lundin, the president of Jefferson F...Read More
Technical analyst Clive Maund discusses why he is upbeat about Tanzanian Gold. Tanzanian Gold Corp. (TRX:NYSE; TNX:TSX) stock got clobbered by a big financing last December, and then it got beaten down further to a low in March when the entire market caved in, including gold stocks, so it has remained "under a cloud" since the financing, never really recovering with the sector in April, and it is...Read More
Gold Terra Resource Corp. reported results for 10 drill holes from Sam Otto South at its 100%-owned Yellowknife City Gold project. In a news release, Gold Terra Resource Corp. (YGT:TSX.V; TRXXF:OTC; TXO:FSE) announced drill results from 10 holes from Sam Otto South at its wholly owned Northwest Territories' Yellowknife City Gold project. The company advised that it has now released assay results...Read More
Nexus Gold will first focus on known areas of high-grade mineralization in the southernmost part of its claim block. Nexus Gold Corp. (NXS:TSX.V; NXXGF:OTCQB) announced in a news release it defined the targets for its impending diamond drill program at its McKenzie gold project in Ontario's Red Lake District. "We're eager to test and expand areas that have already shown high-grade mineralization...Read More
The Dow's losses accelerated at the closing bellIt was a dismal end to a wild trading day on Wall Street. After slowly leaking gains all day, the Dow's losses accelerated to its session lows --over 450 points -- at the closing bell. Investors weighed distressing comments from National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci, who warned of a second COVID-19 wave in...Read More
Disney stock has struggled amid social distancingIt was a week worth forgetting for blue-chip entertainment icon Walt Disney (DIS). For starters, the company's second-quarter earnings and revenue fell short of Wall Street's estimates. Brokerages piled on with a slew of bear notes, the sharpest coming from Bernstein, which lowered its price target to $96 from $100 while the analyst in coverage at E...Read More
The Nasdaq is working to scrape together a seventh straight daily gainThe Dow Jones Industrial Average (DJI) is modestly in the black midday, up around 50 points as markets oscillate between the positivity surrounding the tentative reopening and more negative economic data. The tech-heavy Nasdaq Composite (IXIC) is also hovering in the black,fighting to secure its seventh straight win. The S&P...Read More
PNC is selling its 22% stake in BlackRockThe shares of PNC Financial Services Group Inc (NYSE:PNC) are down 4% to trade at $98.86, following the firm's announcement that it's selling its 22% stake, worth roughly $17 billion, in BlackRock (BLK). The move earned an upgrade from Stephens to "overweight" from "equal weight," calling the exit a smart move, ahead of any major political changes next fall...Read More
UAL is down 73% year-to-dateThe shares of United Airlines Holdings Inc (NASDAQ:UAL) are down 1% to trade at $23.73, giving back electronic gains from the morning amid newsBrett Hart was named the airliner's new president, effective May 20. Hart will replace Scott Kirby, who is slated to take over as CEO for Oscar Munoz next week. The C-suite shuffling comes as air travel demand suffocates the se...Read More
Datadog's first-quarter earnings and revenue exceeded analysts' estimates Datadog Inc (NASDQ:DDOG) is enjoying its day in the sun, following a first-quarter earnings and revenue beat. The software stock is up 17.5% to trade at $65.45, ready to notch its third-consecutive high, and already Wall Street is taking notice. No less than eight analysts raised their price targets, with the highest coming...Read More
Oil prices are climbing today as wellDow Jones Industrial Average (DJI) futuresare pointing towardsa small rise this morning, as investors evaluate the attempts to reopen the economy. At 10 a.m ET, director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci will testify before the Senate Health Committee to offer a prognosis on easing lockdowns. Gains are climbing desp...Read More
Toyota forecast an 80% drop in profit for the current yearToyota Motor Corp (NYSE:TM) is tumbling today, down 1.3% to trade at $122 after warning that its profit could plunge 80% in 2020 -- its lowest in nine years -- due to the negative effects COVID-19 has had on production. The Japanese automaker's president Akio Toyoda said in a livestreamed media briefing that "the coronavirus has dealt us a...Read More
Brazilian automakers are slowly resuming production after more than a month of idling due to Covid-19 brought the country's car output to near zero in April.General Motors (GM) reopened its engine plant in Joinville, in the southeastern state of Santa Catarina, on May 12, a company spokesperson told Fastmarkets. The other units owned by the company in Brazil have been preparing for the past four w...Read More
The recent volatility inmost markets was really extreme, which means that it was easy to lose focus onthe things that matter the most in case of the gold market. It was relativelyeasy to keep one’s focus as far as the fundamental outlook for gold isconcerned – it’s quite obvious that the economies around the world are in deeptrouble and that the various QEs and money-printing mec...Read More
What it cannot do is cure the virus. What it could do, however, according to a good many analysts, is act as an effective hedge against its economic consequences. Since the beginning of the year through April, the metal was up 11.73% during probably the worst period in economic history since the 1930s Great Depression. Below we chronicle what top experts have to say about gold in the year of...Read More