Gold and silver will zoom if there is any indication that interest rates will not be hiked in June by the Federal Reserve. Trump trade wars with China and Europe will impact industrial metals more. The Korean peninsula peace will be bearish for gold. There can be profit taking in long US dollar positions before the FOMC meet and April's NFP. Fundamentally gold and silver are bearish as physical...Read More
The USD Index reversed in a quite clear way on Friday and gold rallied. It looked like a great bullish combination for the precious metals sector, but was it really one? Gold moved higher on volume that was the lowest since the beginning of the year and this means that Friday's rally shouldn't be taken at its face value, but instead it should be closely inspected. Moreover, silver just did what...Read More
The NY Times is reporting that China won't discuss President Trump's two key trade demands when American diplomats arrive in China for negotiations next weekContinue...Read More
The FAANG stock is doing battle with a key trendlineApple Inc. (NASDAQ:AAPL) will report first-quarter earnings after the close tomorrow. Amid recent concerns about smartphone demand, it looks like options traders have been betting bearishly on the iPhone maker ahead of earnings. In addition, Barclays this morning cut its price target on AAPL stock to $157 from $168 -- representing a discount to t...Read More
WASHINGTON (Reuters) - U.S. consumer prices accelerated in the year to March, with a measure of underlying inflation surging to near the Federal Reserve’s 2 percent target as weak readings from last year dropped out of the calculation.The rise in the annual inflation gauges reported by the Commerce Department on Monday was anticipated by economists and Fed officials and is not expected to al...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12April 30, 2018 It's one of the fundamental principles of the stock market: when interest rates go up, stocks go down. And along with financial companies and cyclicals, technology companies with their sky-high price-to-earnings multiples should be among the biggest losers in an...Read More
Turkish steel producers booked more deep-sea scrap for May at the end of last week, and prices continued to inch upward in trades on Monday April 30.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $352 per tonne and 5,000 tonnes of bonus at $362 per tonne cfr.Another steel mill in the same region booked a Canadian cargo, comprisin...Read More
The $121 area looks important for a number of reasonsAutodesk, Inc. (NASDAQ:ADSK) has made some big moves on the charts in recent months, both to the upside and the downside. The shares were last seen trading near $127, a roughly 10% retreat from their March 13 record high of $141.26. However, the software stock recently bounced from a noteworthy technical level, suggesting it could be poised for...Read More
Ontario's 1970 Commission on the Healing Arts prophetically warned that "society would not regard as sufficient, the amount of health goods and services that couldContinue...Read More
By Rachel Pannett SYDNEY--Australia's corporate regulator Tuesday said it has expanded its legal action against Rio Tinto Ltd. (RIO.AU) and two former executives, over mining assets in Mozambique. The Australian Securities and Investments Commission commenced proceedings against Rio Tinto, former Chief Executive Thomas Albanese and former Chief Financial Officer Guy Elliott in March, alleging the...Read More
CLICK ON CHART TO ENLARGEThe 2-pack above looks at Gold & Silver on a "Monthly Basis" over the past 8-years. Both peaked in 2011 and have struggled to move higher ever since.Overhead resistance comes into play for both at (1). During the month of April, both attempted to break above these important resistance lines, only to see buying pressure dry up and sellers step in. At months end, both coul...Read More
By Jordan Roy-Byrne CMT, MFTA It was music to gold bug ears. We've all heard the seemingly shocking or outrageous price targets for Gold. So it's not new. But this time from a non gold pusher. Someone with credibility in the larger financial world and a track record to boot. Gundlach's comment was included in every piece of Gold literature that recently crossed my desk. No doubt, if Gold s...Read More
(Kitco News)- Gold pricescontinue to trade near a 5-week low as inflation pressures rise in line withexpectations, according to the latest data from the U.S. Commerce Department.Monday, theCommerce Department said that its Personal Consumption Expenditures Indexincreased to 2.0% annually in March, up from the 1.7% increase reported inFebruary.At the sametime core PCE, which strips out volatile foo...Read More
Turkish domestic auto bundle scrap prices have gone up in line with imported scrap prices while ship scrap prices have remained stable over the past week, sources said on Monday April 30.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) in Turkey was TRY1,370-1,500 ($339-372) per tonne delivered, narrowing upward from last week's TRY1,270-1,500 per tonne.This...Read More
The all-stock deal is valued at roughly $26 billionSpeculation surrounding a potential merger of telecommunication firms Sprint Corp (NYSE:S) and T-Mobile Us Inc (NASDAQ:TMUS) has been swirling for years. Over the weekend, the two confirmed a roughly $26 billion all-stock deal, with TMUS CEO John Legere picked to lead the combined company. T-Mobile parent Deutsche Telekom will hold a 42% stake and...Read More
As Americans completed their taxes this spring, they battled for the last time with a tax system that for decades plundered their bank accounts and made American Continue...Read More
Pacific Ridge Exploration (TSXV: PEX) announced today that it is planning to buy the Spius porphyry copper project, located 40 kilometres southwest of Merritt, British Columbia.In a press release, the Vancouver-based miner whose assets span from Yukon to B.C., said that the Spius property was explored for its porphyry potential in the 1960's and early 1970's. However, most of the records from that...Read More
NEW YORK (Reuters) - Global stock indexes were flat to slightly higher after upbeat earnings and deal news on Monday, while the U.S. Treasury yield curve flattened for a third straight session after U.S. economic data missed expectations.MSCI’s all-country index of global equities .MIWD00000PUS was up 0.02 percent on the day, on track for a gain for April, its first positive month since Janu...Read More
The seaborne iron ore concentrate market saw higher premiums and increased enquiries last week.The weekly Metal Bulletin 66% Fe Iron Ore Concentrate Index was at $89.57 per tonne cfr China on Friday April 27, up $1.69 per tonne - or 1.90% - from a week earlier. The daily Metal Bulletin 65% Fe Iron Ore Index averaged $84.88 per tonne cfr China over the week, up $1.22 per tonne - or 1.5% - from the...Read More
"We expect another five years or so of the bear, which means capped price rallies, and lots of sideways price action," Continue...Read More