Gold markets initially shot higher during the week, reaching towards the $1700 level. At this point, the market then broke back down to slice through the $1600 level. By doing so, we have formed a very bearish candlestick.
(Bloomberg) — Over the last few weeks, gold buyers have seen a frantic push by individuals racing to sell their little-used jewelry in the U.S. and Europe amid worries that the extraordinary price rally fueled by the coronavirus since the start of the year may soon run its course.Old gold sales always jump when prices […]
(Bloomberg) — Iran and South Korea reported hundreds of new coronavirus cases while unexplained infections in California, Oregon and Washington indicated the disease is spreading on the U.S. West Coast.Iran reported another 205 cases, including five lawmakers, while the number of infections in South Korea soared 35%, or by more than 800, in 24 hours. […]
(Bloomberg Opinion) — Warren Buffett is credited with that old saying about receding tides and embarrassed skinny-dippers. In Occidental Petroleum Corp.’s case, the lack of swimwear is one problem, but so is the anchor tied around its ankle. Part of that anchor is the old sage himself.Oxy, as it is known, just reported results for its first full quarter […]
When you get a bloodbath in global markets like this, it’s quite common for larger funds to have to liquidate winners in order to pay for losers. That’s exactly what I believe happened late in the week when it comes to the gold markets, as we have seen them slip.
(Bloomberg) — It is an odd moment for gold to be tumbling. One of the oldest and most-trusted safe havens in times of crises, gold typically rallies amid nasty stock sell-offs like the one that has gripped the world this week.So its plunge Friday — it fell as much as 5%, the most in almost […]
(Bloomberg) — Commodities were punished in an across-the-board sell-off as investors took fright at the coronavirus crisis, with energy, metals and agricultural raw materials driven lower. Even gold, a traditional haven asset, took a hit.The stampede away from risk assets trampled oil, copper, iron and palm oil, with no appetite for dip-buying before the weekend. […]
(Bloomberg) — Fear over the spread of the coronavirus tightened its grip on global markets Friday, with stocks across Europe and Asia plunging a day after the worst rout on Wall Street since 2011. Equity futures pointed to yet more pain at the New York open, and investors diving into safe assets sent Treasury yields […]
The significant appreciation of gold prices is not surprising, and there seems to be more leeway for gains Continue reading…
(Bloomberg) — Even with gold at seven-year highs, there’s still room for more gains if history is anything to go by.Prices have surged this year as haven-seeking investors pour in. Markets have been shaken by worries that the coronavirus outbreak will cripple global growth, coupled with expectations for looser monetary policy around the world. Assets […]
(Bloomberg Opinion) — How bad is it in the energy sector right now? Its weighting in the S&P 500 is on the verge of falling below the utilities sector for the first time ever. You know, that boring poles-and-wires industry. If in the Houston area, it is recommended you don’t bring this up in polite conversation.The […]
(Bloomberg) — Ford Motor Co.’s recently appointed chief operating officer sees the struggling automaker operating with the same sense of urgency and crisis that kept the company out of bankruptcy a decade ago.“Everyone at Ford knows the situation we’re in,” Jim Farley, who becomes COO on March 1, said Wednesday at a Wolfe Research conference […]
Investors may want to consider buying shares if the price dips Continue reading…
The silver markets fell a bit during the trading session on Tuesday, breaking through the $18.50 level. It diverged from gold, as the markets are starting to punish anything that comes along the lines of an industrial play.
Gold volatility continues to rise
(Bloomberg) — Stocks in Asia fell on heavy volumes Wednesday after another epic rout on Wall Street, while U.S. equity futures rose and the yen dipped, taking back some of their strong recent moves.The won fell toward its weakest since 2016 after South Korea reported a further escalation in coronavirus cases. Stock benchmarks came off […]
Hecla Mining Company's (NYSE:HL): Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops…