CloseGain/LossGold $1311.80-$2.60Silver$16.49+$0.01XAU82.38-0.35%HUI180.27-0.50%GDM632.77+0.05%JSE Gold1090.34+12.48USD93.12+0.02Euro118.51-0.14Yen91.21-0.48Oil$71.14+$2.0810-Year3.005%+0.031T-Bond142.53125-0.84375Dow24542.54+0.75%Nasdaq7339.91+1.00%S&P2697.79+0.97% The Metals: Gold fell $9.60 to $1304.80 in Asia before it climbed up to $1317.30 in late morning New York t...Read More
The comments below are an edited and abridged synopsis of an article by Steve St. AngeloCentral banks sold a staggering amount of gold into the market up until 2009; they became net purchasers after the 2008 market meltdown.The US sold some of its gold reserves from 2002 to 2009. During that time, nearly 1,800 tonnes of gold went into gold ETFs, accounting for 52% of central bank gold sales.In 8 y...Read More
Gold now has limited downside (20%) but substantial upside (650%)Gains on gold are likely to come at a time when stocks are crashingInvestors and savers without an allocation to gold will be wiped outTime to consider saving in physical gold? Editors noteby James Rickards, Daily ReckoningFollowing the Panic of 1907, John Pierpont Morgan was called to testify before Congress in 1912 on the subject...Read More
My first job was in sales. I went into sales because I enjoyed it and it paid well. To reach my goals, I knew I had to be the best. Due to that motivation, I turned to an icon writer - Napolean Hill. I read many of his books to learn how to be the best sales person I could be. I had great books that I devoured - Think and Grow Rich, Success Through a Positive Mental Attitude, The Law of Succ...Read More
Barrick Gold (NYSE, TSX:ABX), the world's top miner of the precious metal, said Tuesday is buying about $38 million in Midas Gold's (TSX-V:MAX) shares, in a deal that gives the Canadian giant an almost 20%-stake in the junior as well as access to the promising Stibnite Gold project, in Idaho, US."Midas Gold's Stibnite Gold project in Idaho offers a compelling investment proposition, with low geopo...Read More
By Ira EpsteinGold stalls while silver rallies.https://www.iraepstein.com/Read More
Last time this rare options signal sounded, the shares skyrocketedTenet Healthcare Corp (NYSE:THC) stock has been on fire lately, with the shares exploring two-year highs in the wake of last week's earnings win. What's more, THC options are trading at a relative bargain, despite the equity's advance. The last time Tenet shares were trading near new highs and simultaneously sported attractively pri...Read More
(Kitco News) - Gold priceshave moved to their session highs in late-morning tradingWednesday, at the same time the U.S. dollar index has dropped below unchangedand is trading near its daily low. Some short covering in the futures marketand perceived bargain hunting in the cash market are helping to lift the yellowmetal. Junegold futures were last up $3.00 an ounce at $1,316.80. By Jim Wyckof...Read More
"I fear the future result of Trump's crusade on 'fake news' will be licensing of all reporters. [Dems already floated this in the senate pre-Trump.] The mop up on this issue is going to be excruciating..."Continue...Read More
A while back, a writer (whose name and story details I unfortunately don't remember) was researching the credit card business and tried to figure out how card issuers decide which customers to pursue. To this end he created a series of fake personas ranging from an affluent straight-arrow who always pays her bills on time to a white-trashy guy with impulse control issues and a history of multipl...Read More
Seabridge Gold (TSX:SEA) (NYSE:SA) announced today that winter drilling at its 100%-owned Courageous Lake Project has successfully identified two new gold zones, Olsen and Marsh Pond, with widths and grades suggesting they could make a contribution to project resources similar to the Walsh Lake Deposit discovered by Seabridge in 2012. This year's drill program also found two other target zones t...Read More
Put buying has been unusually popular on FTRTelecom stock Frontier Communications Corp (NASDAQ:FTR) continues to struggle on the charts, down another 8.8% today at $8.92, following a bear note out of Citigroup. An analyst there downgraded FTR shares to "sell" from "neutral," and cut his price target by $1.00 to $6.25, expecting increased pressure on the company's free cash flow going forward. Opti...Read More
WASHINGTON (Reuters) - A breakaway group of Republicans in the U.S. House of Representatives plans on Wednesday to defy their leaders and join with Democrats in an attempt to force action on legislation that would protect young, illegal immigrants from deportation.The rare move could trigger a House debate next month on four bills to replace the Deferred Action for Childhood Arrivals (DACA) progra...Read More
A global empire will keep pushing and pushing until something snaps. The leaders of empire become convinced of their invincibility right before the end, and Continue...Read More
Domestic prices for hot-dipped galvanized coil (HDG) have gone unchanged in Northern Europe this week, but they have fallen in the South of the region, sources told Metal Bulletin on Wednesday May 9.Demand for the material in Southern Europe has been slow, with buyers remaining in "wait-and-see" mode because they have sufficient stocks, according to market participants. As a result, domestic price...Read More
As part of Merk's in-house research we regularly evaluate a consistent set of charts covering the economy, equities, fixed income, commodities and currencies. The aim is to keep our eyes open and to look through the noise of the headlines, avoiding the distractions of sensationalized click-bait. In sharing this content, we offer a cross-check to your own thinking and aim to add value to your own...Read More
The current financial environment reminds Sprott's John Embry of right before the 2008 and Dot-Com crises. This time, since the system is distorted even more with higher debt, the collapse will be "chaotic."The U.S. Dollar has rallied for the last few weeks. The metals have remained stable despite the Dollar rally. "If the Dollar is the world's strongest currency, you can't own enough gold and sil...Read More
Oil stocks are on the rise after the U.S. withdrew from the Iran nuclear dealIn the wake of President Donald Trump's decision to pull the U.S. out of the Iran nuclear deal, oil prices have skyrocketed. At last check, June-dated crude was up 2.9% at $71.07 per barrel. Oil stocks are enjoying the bounce, including Anadarko Petroleum Corporation (NYSE:APC) and Callon Petroleum Company (NYSE:CPE),...Read More
Domestic prices for cold-rolled coil in Southern Europe fell this week due to slow trading activity, sources told Metal Bulletin on Wednesday May 9.The Southern European market remained in 'wait-and-see' mode with participants waiting for a final decision from the United States about its Section 232 import tariffs and an expected announcement related to a safeguard case in the EU, sources sai...Read More
SHANGHAI, May 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index hit yet another new four-month high at 93.42 overnight as treasury yields grew. It then came off slightly but remained above 93. It closed at 93.09, up 0.03%.The two-year treasury yield hit 2.53%, its highest level since September 8, 2008, while the 10-y...Read More