This is probably one of the biggest conundrums investors face in financial markets today. A major report may come out with a very positive bias, yet the market will move in the opposite direction. How many times have you seen this happen? Full Story
By: Rick Ackerman, Rick's Picks - 28 February, 2019
If a deal does result and North Korea agrees to de-nuclearize, we will see black smoke billowing from the ears of Congressional Democrats, the Norwegian Nobel Committee, and from a great many who wish the President the worst. In a more honorable society, harikari would be demanded of Pelosi and a few others. This would not only be unbeatable kabuki for five billion TV viewers, it would also set a noble example for some of Capitol Hill’s newest lawmakers. Full Story
By: Jordan Roy-Byrne CMT, MFTA - 27 February, 2019
Although Gold will not break resistance in that scenario, we should keep an eye on the gold stocks which have shown improving breadth and relative strength. Plenty of great values remain and there is still plenty of time to position yourself to take advantage. If a huge breakout is coming later in the year then the next few months may be your last chance. Full Story
Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), ("Blue Sky" or the "Company") is pleased to announce the results of the first Preliminary Economic Assessment ("PEA") for the Ivana Uranium-Vanadium deposit at the Company's 100% owned Amarillo Grande Project in Rio Negro Province, Argentina. The PEA demonstrates robust economics for a surficial mining operation of the Ivana deposit, with 13 years of uranium and vanadium production. Full Story
Fed Powell was more of a political discussion and not financial.
Lower dollar, yields falling. Gold's volatility falling, a market in no-man's land. Gold held $1,323.3 -- bulls won the day. Gold's seasonal chart running into resistance... Full Story
By: Rick Ackerman, Rick's Picks - 27 February, 2019
The public pension system is in equally bad shape, and although this tectonic sinkhole is at least talked about, no one has a clue about how Illinois, California, New York, New Jersey, Connecticut and a bunch of other profligate tax-and-spenders will be able to keep retirement checks flowing when their respective treasuries are empty. For now, though, nearly every dime that states can raise with new taxes or deliberately mischaracterized bonds is going toward pension liabilities. And while the pols would have us believe the added revenues will help keep the public retirement system solvent, we can be pretty certain the next bear-market/recession will lay waste to even their most conservative assumptions. Full Story
Federal Reserve chairman has said that “there is no rush to make a judgement” on interest rates. US economy is slowing according to him. Incoming US economic data releases will tell us the timing of the next interest rate hike. Our view: Slowdown has been more or less factored in by the traders and markets alike. US dollar Index will zoom if economic data releases over the next two months beat street expectation. Easter vacations are in April. I see higher consumer spending and travel globally around Asia (if Easters are in April). I am rather positive on global economic growth as compared to the market expectation. Overall gold will rise. Full Story
The biggest driver of major markets right now is the possibility of a US-China trade deal.
On that note, please click here now. The US government’s wild launch of tariff taxes caused global markets to swoon in the first half of 2018. Gold and the Chinese stock market were hurt more than a lot of other markets.
Gold has done well with QE, QT, falling rates, and rising rates, but tariff taxes hurt the Chinese economy. That put a damper on the growth of Chinese gold demand. Full Story
By: Rick Ackerman, Rick's Picks - 26 February, 2019
No one is crying for Buffett, though, and Buffett himself seems unconcerned. If you owned auto-insurance giant Geico and Burlington Northern Santa Fe railway, which can carry a ton of freight 500 miles on a single gallon of diesel fuel, would you be worried? Full Story
The correction in industrial metals was a case of “buy the rumour and sell the fact”. The rumour was a trade deal between USA-China. Now that the trade deal is more or less a done deal, there was profit booking. There can be more corrections in industrial metals and thereafter a period of consolidation. The next big move will be next week around the release of various US jobs numbers. Once details of the US-China trade deal is known, industrial metals will form a medium term trend. Right now, I will prefer to trade cautiously in industrial metals till the third week of March. Full Story
Gold pushed into our major resistance zone this past week with a high at $1,349.80. There is still some room for gold to make a higher high, but major resistance is now clear up to around $1,365. We have noted the major resistance that defines this zone with highs of $1,377, $1,362, and $1,369 respectively in 2016, 2017, and 2018. Our expectations are that the first approach to this major resistance zone will be met with failure, but ultimately this time we should push through to $1,400. We note that gold’s RSI hit over 70 this past week, a zone often associated with tops. While we cannot rule out one more high here the question is how far will gold pull back. Currently good support zones could be seen at $1,300/$1,310, but below that level the next good support zone would be $1,280/$1,285 and below that $1,255/$1,260. Only below 1237 would we become concerned, and below $1,210 new lows would be possible. We doubt we will fall that far. Our best call is that gold could, yes, pull back to the $1,255/$1,260 zone. PDAC is in a week and that annual gold miner’s fest often signals a top. As well, we have the March FOMC on March 19–20 and any sign that the Fed is thinking of tightening again could spook gold to the downside. A reminder that economic numbers in the U.S. continue to be positive. The woes of Germany and Japan have not translated themselves into the U.S. As well, continued signs of the U.S. and China talking nicely will also help push gold lower. Again, we can’t rule out some small new highs up to $1,365, but our suspicion is we have hit at least a temporary high. Full Story
In a note to investors this week, Morgan Stanley’s Macro Strategy Group lifted its September recommendation to be long gold, despite expectations of a weaker U.S. dollar and lower real interest rates in 2019. The research group bases its decision on two factors. One, because the price of gold has risen “materially” in recent months, it’s left little upside to Morgan Stanley’s earlier forecast of $1,350 an ounce by year’s end. And two, the target of $1,350 is “a price level gold has struggled to break on a sustained basis for the better part of five years.” If the precious metal manages to break above the target price, the analysts write, “We may need to revisit our view.” Full Story
By: Chris Waltzek, GoldSeek Radio - 25 February, 2019
One of the few economic pundits to correctly anticipate the market plunge of 2018 on record. Gold and utilities remain favorite long positions, while he is comfortable with a short position in long-term Treasuries. Mr. Pento crushes the opposition on the trade war debate. The Administration's tax increases on imports have actually boosted domestic GDP, contrary to popular consensus. Only if the proposed 15% increase in new tariffs on China remains in full effect for a year will GDP suffer. Meanwhile, global central banks printed roughly $15 trillion in debt IOUs while plunging real interest rates negative for the first time in recorded history, just to salvage the financial markets from the Great Recession. Full Story
By: Rick Ackerman, Rick's Picks - 25 February, 2019
Corporate buybacks and safe-haven money from just about everywhere else in the world seem incapable of powering the rally indefinitely, especially if corporate earnings have peaked as seems likely. But for now we can only go with the flow and hope we are nimble enough to avoid getting trampled when it reverses. Full Story
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