Luckin Coffee (OTCMKTS:LKNCY), the controversial, downtrodden Chinese coffeehouse operator, is finally taking some steps in the right direction, but Luckin stock remains a gamble.Source: Keitma / Shutterstock.com Still reeling from the effects of a revenue-inflating scandal that took Luckin from being a Chinese growth darling to trading over-the-counter, the company recently reappointed Sean Shao, one […]
If we look at the average annual returns for different asset classes in the last 10 years, gold has been an underperformer as compared to U.S. equities. I strongly believe that gold will likely match the performance of equities or out-perform in the next few years.The Federal Reserve recently announced that it will keep interest […]
Gold miners have been hammered in recent weeks, and if prices for the precious metal do not rebound, they could be set to fall further
(Bloomberg) — Formidable Asset Management LLC, a hedge fund that bet on electric-vehicle maker Workhorse Group Inc., and battery maker Nano One Materials Corp. is now putting its money on a lithium mining company.The Cincinnati-based fund sees Lithium Americas Corp. as a “differentiated operator” within the sector that has imminent production, a strategic location for […]
(Bloomberg) — Gold and silver posted their biggest weekly losses since March, when the global onset of the coronavirus pandemic panicked markets.The dollar gained as concern over the outlook for global economic growth bolstered the appeal of the currency as a haven, sapping demand for gold. Fears are mounting that rising coronavirus cases, particularly in […]
Once or twice a year, we get a significant buying opportunity in gold. The next buy signal is rapidly approaching, and prices could bottom any day.
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining…
Gold is breaking lower from the triangle pattern as forecasted. Expect a 1 to 2-week decline into the next 6-month low. A rally to $2300+ is possible from that bottom into late December – depending on the November elections (or lack thereof).
(Bloomberg) — From building Hong Kong’s largest shopping mall to constructing a sprawling $3.9 billion sports center, Adrian Cheng has been one of the most aggressive property investors in town. It’s a costly expansion strategy that’s now poised to test one of the city’s oldest real-estate empires.Cheng, 40, became chief executive officer of New World […]
(Bloomberg) — Gold’s slump this week is forcing investors to ask whether the haven asset is taking a breather or facing an even sharper decline.Unprecedented global stimulus, negative real rates and a weakening dollar pushed bullion to a record high above $2,075 an ounce in early August. While some banks, including Goldman Sachs Group Inc. […]
(Bloomberg) — JPMorgan Chase & Co. is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter.The potential record for a settlement involving alleged spoofing could be announced as soon as this […]
(Bloomberg) — Gold could hit a record before the year-end, aided in part by the risks surrounding the U.S. presidential election, according to Citigroup Inc.Uncertainty over the contest and delays about the outcome may “be under-appreciated by precious metals markets,” analysts including Aakash Doshi said in a quarterly commodities outlook. The bank’s forecast implies a […]
Some experts believe we may have hit "peak gold" production in our pursuit of the precious metal.
Nvidia (NVDA) has apologized to customers following the hotly-anticipated launch of its GeForce RTX 3080 launch last week.NVDA called the launch “simultaneously the best GPU launch ever and the most frustrating” after the GeForce RTX 3080 sold out almost instantly.“We expected the best ever demand for the RTX 30-series, but the enthusiasm was overwhelming. We […]
Hewlett Packard Enterprise announced the completion of its acquisition of Silver Peak, a software-defined wide area network (SD-WAN) company, in a transaction valued at $925 millionHPE (HPE) said that Silver Peak will become part of Aruba, which is one of its business units. More specifically, the deal will complement Aruba ESP (edge services platform) and help […]
BofA Securities is out with an early, positive reaction to the Barstool Sportsbook app after its opening weekend in Pennsylvania.The Penn National Analyst: Shaun Kelley reiterated a Buy rating on Penn National Gaming (NASDAQ: PENN) and raised the price target from $59.75 to $85.Barstool Sportsbook: The Barstool Sportsbook app was the No. 1 sports betting […]
(Bloomberg) — Spot gold slid the most in almost five weeks, falling below $1,900 an ounce as a strengthening dollar diminished demand for commodities.Spot gold declined as much as 3.5% to $1882.51 an ounce and silver plunged as much as 11% as the Bloomberg Dollar Spot Index headed for its biggest gain since June. Stocks […]
Barrick Gold's (TSE:ABX) stock is up by 9.2% over the past three months. Since the market usually pay for a company’s…
The world’s largest 50 investment banks are on track to double their income from precious metals this year to around $2.5 billion, most of it from gold, Coalition, a banking consultancy, told Reuters. The juicy rewards, which have not previously been reported, mark a stunning reversal of fortune for bullion banks. In March, some had […]
(Bloomberg) — A coalition of gold investors, including firms backed by billionaires John Paulson and Naguib Sawiris, is urging changes at miners as performance “continues to fall short” in some areas even as prices rise.In an open letter to the mining industry, prominent gold investors including money managers at Franklin Templeton, CI Investments and members […]
(Bloomberg) — U.S. stock futures fluctuated and Asian stocks drifted at the open after a dip on Wall Street on Friday. The offshore yuan edged higher.Equities started the week little changed in Australia and South Korea, while Japan’s equity market was shut. Currencies saw small moves, with the dollar largely steady against its main G-10 […]