If a top is forming then the market should stair-step down, first taking out $1966.50 then $1952.30.
Gold futures tested $1998.40 yesterday, and we see the potential for a post-Fed meeting pullback in precious metals. Gold miners will often lead the metals.
(Bloomberg) — European stocks fell to a three-week low, U.S. futures dropped and the Treasuries gained on the busiest earnings day of the season.Markets are bracing for a slew of earnings from American tech giants and economic data that’s likely to show the biggest contraction U.S. gross domestic product in records dating back to the […]
A record-breaking flood of gold investment that has driven prices to all-time highs was not enough to stop a collapse in jewellery sales from cutting global demand for the metal by 6% in the first half of 2020, the World Gold Council (WGC) said. The coronavirus pandemic triggered stockpiling of gold in Europe and North […]
Ahead of earnings from two of the most closely watched biotechs–Moderna Inc (NASDAQ: MRNA) and Gilead Sciences, Inc. (NASDAQ: GILD)–one thing seems pretty certain: Investors are likely to care much less than normal about Q2 financial numbers from either.Arguably, both companies could report their worst quarterly earnings and revenue ever and it wouldn't make as […]
Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500's (NYSE: SPY) total return for the decade was 250.5%. But there's no question some big-name stocks did much better than others along the way.Nokia's Difficult Decade: One underperformer of the last decade was telecom and consumer electronics […]
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
Precious metals, namely gold and silver, are in the midst of epic rallies. On Monday, silver exchange-traded funds extended what are becoming meteoric rises while gold hit an all-time high.On volume that was nearly double the daily average, the SPDR Gold Shares (NYSE: GLD), the world's largest bullion-backed ETF, jumped 2%. The VanEck Vectors Gold […]
Gold futures reverse gains after surging to record highs. Yahoo Finance’s Akiko Fujita and ETF Trends Director of Research Dave Nadig discuss.
(Bloomberg Opinion) — Gold’s record run to almost $2,000 an ounce has burnished cash flows and driven a surge in shares of bullion producers. The rally provides a renewed test of discipline for Barrick Gold Corp. and peers after a similar climb a decade ago prompted a spate of inflated deals and overly optimistic investments that wasted billions.The 2020 redux isn’t […]
(Bloomberg) — The U.S. Mint has reduced the volume of gold and silver coins it’s distributing to authorized purchasers as the coronavirus pandemic slows production, a document seen by Bloomberg shows.The Mint’s West Point complex in New York is taking measures to prevent the virus from spreading among its employees, and that will probably slow […]
(Bloomberg) — Gold’s record-breaking rally showed signs of flagging after futures touched $2,000 an ounce for the first time. Silver also fell as investors assess whether precious metals rose too high, too fast.Both metals retreated after touching fresh highs earlier Tuesday as traders looked to lock in profits. While there’s no end in sight to […]
(Bloomberg) — The U.S. dollar’s reign as the world’s reserve currency is coming under threat, as evinced by the recent surge in gold prices, according to Goldman Sachs Group Inc.The greenback faces several risks, including that the U.S. Federal Reserve may shift toward an “inflationary bias,” a rise in political uncertainty and growing concerns surrounding […]
Here is why gold prices are going through the roof.
(Bloomberg Opinion) — Federal Reserve Chair Jerome Powell has likely heard it all about negative U.S. real yields: How they’re devastating for pensions and life insurers, causing equity valuations to outpace the economic recovery, encouraging a stampede into gold and out of the dollar and giving the green light for American companies to gorge on cheap debt […]
(Bloomberg) — Traders are abandoning bearish bets on gold as the yellow metal surges to all-time highs.Short interest as a percentage of shares outstanding on the $75 billion SPDR Gold Shares exchange-traded fund, ticker GLD, is near the lowest level since July 2009, according to data from IHS Markit Ltd. Meanwhile, bullish call option volume […]
Drug maker Moderna Inc (NASDAQ: MRNA) is starting a Phase 3 trial of its coronavirus vaccine, and CNBC's Jim Cramer has some advice for the company and its management team.Moderna's Insider Stock Sale: Moderna found itself on the receiving end of an additional $472 million from the federal government to help the development of its […]
Investors flock to the traditional safe-haven amid US-China tensions and the Covid-19 pandemic.
The Last Week, In A Nutshell What Happened: Stocks closed the week lower on an escalation of U.S. and China tensions, mixed reactions to earnings results, and delays in stimulus talks.Remember This: "Congress' decision on a new wave of support could make or break the next leg of the economic recovery," said Lindsey Bell, chief […]
Spot gold rose 1.7% to $1,934.06 per ounce by 0802 GMT after hitting a record high of $1,943.93. U.S. gold futures gained 1.7% to $1,929.40. Gold is in “perfect condition to move higher,” said ANZ commodity strategist Soni Kumari, as central banks push for liquidity amid the pandemic.
(Bloomberg) — Gold’s unrelenting march higher shows no signs of slowing after a plunge in the dollar swept prices past the previous high set in 2011 and put the metal on track for even bigger gains.Bullion’s surge came as a gauge of the U.S. currency sank to the lowest in more than a year, the […]