While the US markets are quiet due to Thanksgiving all eyes are focused on Europe and the continuing debacle that is Brexit. With the expectation that a deal is going to be signed between the UK and the EU, this will mark the next step in the attempt for the UK to leave the world largest single market. Full Story
By: Chris Mullen, Gold Seeker Report - 21 November, 2018
Gold saw slight losses in early Asian trade, but it then rose to as high as $1230.10 by midmorning in New York and ended with a gain of 0.24%. Silver rose to as high as $14.554 and ended with a gain of 1.12%. Full Story
Let’s be clear. October’s market decline was a rather mild warning shot. At its lowest close, the SPX 500 lost -9.9% from its September peak, before rebounding in recent sessions. As I noted during the 2000-2002 and 2007-2009 collapses, intermittent “fast, furious, prone-to-failure” rebounds are among the factors that encourage investors to hold on through the entirety of major declines. After particularly severe down-legs in the market (which we have not yet observed), these rebounds can extend for weeks, and sometimes approach gains of as much as 19% before the market plunges again. Full Story
By: Chris Mullen, Gold Seeker Report - 20 November, 2018
Gold chopped near unchanged in Asia before it climbed up to $1228.70 in London and then dropped to a new session low of $1220.00 by early afternoon in New York, but it then bounced back higher into the close and ended with a loss of just 0.07%. Silver edged up to $14.489 before it dropped back to $14.23 and then also rebounded, but it still ended with a loss of 0.69%. Full Story
Asset management firm Fasanara Capital compared stock valuations to bitcoin in that “it is totally disconnected from fundamentals,” its chief executive told CNBC Impending tipping point for markets is due to a synchronicity of enterprise overvaluation, high indebtedness, low cash balances and a drawback in public flows Still, a major selloff hasn’t arrived, and many market-watchers continue to celebrate the enduring bull run Full Story
Gold and silver are steady. There is good demand for physical gold in China and ASEAN nations. Prices of gold and silver are low in Asia due to a stronger currency against the US dollar. People are taking advantage of stronger currency to buy gold. There will be sudden one way moves in bullion anytime till Friday. Asian markets and Asian traders do not sleep on US holidays. Silver demand is superb in north India. Gold demand in India is stable as people are waiting for more price falls to buy. Full Story
By: Chris Mullen, Gold Seeker Report - 19 November, 2018
Gold fell $3.80 to $1218.10 in Asia, but it then rallied back higher in London and New York and ended near its early afternoon high of $1225.20 with a gain of 0.11%. Silver chopped between $14.35 and $14.44 and ended with a gain of 0.07%. Full Story
British investors have been fleeing their domestic stock market in droves all year, and everyone and their dog lined up to sell sterling on Thursday as the tally of resignations from Theresa May’s Brexit-plagued administration mounted. Gilts have become the haven of choice for those unable or unwilling to scrap all their U.K. exposure. But that search for safety could backfire if the political chaos brings down Prime Minister Theresa May. Full Story
Thanksgiving week has been marked by abrupt moves and long-term trend changing moves in metals and energies. This has happened most of the time (not all of the time) over the past fifteen years. I will prefer to be cautious in metals, natural gas and the US dollar Index this week. Technicals are fine but one should see signs of a trend changing technically. Full Story
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