Luckin Coffee Inc. (NASDAQ: LK) will resume trading on Wednesday, Nasdaq Inc. (NASDAQ: NDAX) said in a statement Tuesday.The trading of the Chinese coffee chain company at the Nasdaq Stock Market was halted back in April after the disclosure of securities fraud by its Chief Operating Officer Jian Liu.The move comes a day after Luckin […]
U.S. gold futures rose 0.4% to $1,753.30. In testimony before the U.S. Senate Banking Committee, Federal Reserve Chair Jerome Powell said the Fed was looking at extending access to the credit facilities to additional borrowers, including states with smaller populations. “What the Fed does in the next few months will be pretty important, and certainly […]
Gold implied vol hits a 2-month low
(Bloomberg) — Stocks in Asia looked poised to track their U.S. peers lower after reports circulated that Moderna Inc.’s vaccine study, which was credited in part for Monday’s rally, didn’t produce enough critical data to assess its success. Treasuries gained.Futures dropped in Japan, Hong Kong and Australia. Contracts on the S&P 500 dipped after the […]
We view the current action in silver as bearish, not bullish, especially since the gold to silver ratio moved back to the very strong support level (100).
Gold and silver prices rallied Monday amid market strength as news from a Moderna Inc (NASDAQ: MRNA) trial stoked optimism about a potential coronavirus vaccine. On Monday, June gold futures were trading at $1,733 and July Comex silver prices were at $17.39 per ounce."Gold and gold stocks had a strong month, recovering all of their […]
Spot gold was steady at $1,731.50 per ounce by 0650 GMT, after rising 0.5% earlier in the day on renewed Sino-U.S. trade tensions and global stimulus. U.S. gold futures fell 0.1% to $1,733.30. Despite the news on a potential coronavirus vaccine lighting a fire under the equity markets, gold will remain very well bid due […]
(Bloomberg) — European stocks turned lower alongside U.S. equity futures on Tuesday as the risk-on mood that kicked-off the week faded. Oil prices rose for a fourth straight session.The Stoxx Europe 600 Index had opened in the green following news that Germany and France have backed a $546 billion, European Union-wide economic recovery fund. But […]
(Bloomberg) — The U.S. Supreme Court rejected an appeal by Venezuela in its fight to retain control of oil refiner Citgo Holding Inc., putting the country a step closer to losing its largest asset.The justices, without comment on Monday, left intact a federal appeals court victory for a defunct Canadian gold mining company seeking to […]
Stocks were on a tear in April, almost clawing back everything they lost in March.Much of that rally has been pinned on the hopes that lockdowns would be over and the coronavirus would be sorted in short order.But the more we hear from medical experts and more fundamentally, from the rising numbers of sick and […]
(Bloomberg) — Gold extended its rally to a fresh seven-year high after the Federal Reserve warned of potential asset-price declines as an economic recovery could stretch through until the end of next year. Palladium jumped.Haven demand for bullion is being supported by dismal economic data and fears over new infections, even as investors are encouraged […]
(Bloomberg) — Forget plunging oil prices and a collapse in consumer spending. Some of the world’s most-prominent investors are raising alarm bells over the looming threat of inflation, and turning to gold for protection.Money printing by central banks and vast state stimulus packages are rekindling interest in one of the oldest stores of wealth. It’s […]
Momentum has turned positive
The latest round of 13F filings from institutional investors is out, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling.Takeaways From 13F SeasonInvestors who follow particular fund managers can easily look up what each was buying and selling in the quarter, but other investors […]
Between 2008 and 2011, Gold rallied over 300% while Silver rallied over 600% just after the Credit Crisis event.
Powell gave a much-awaited speech yesterday, in which he sent one bearish and two bullish messages for gold. What exactly did he say and what does it mean for the yellow metal?
Jobless claims continue to rise
The global impact of COVID-19 has been unprecedented and it is far from over, but for savvy investors there may be no better time to invest in “indirect” discount gold
The market has proven itself difficult to predict at the best of times, yet the sustained rally since mid-March has left many perplexed. As the bad news on Main Street has kept piling up, Wall Street has nonchalantly marched on, seemingly oblivious to the pandemic’s destructive effect and buoyed by the stimulus measures.But perplexing market […]
(Bloomberg) — The biggest names in finance are coming around to a view that seemed unlikely a few weeks ago: Stocks are vastly overvalued.Legendary investors Stan Druckenmiller and David Tepper were the latest to weigh in after a historic market rebound, saying the risk-reward of holding shares is the worst they’ve encountered in years. Druckenmiller […]