|Day's Range||1,280.10 - 1,284.70|
Gold closed higher last week as aggressive buyers may have found value inside a longer-term retracement zone at $1280.80 to $1261.70. On Thursday, May 23, financial data released by IHS market showed U.S. manufacturer growth hit a multiyear low in May. This raised concerns about a slowdown in the U.S. economy, which would likely mean lower demand for crude oil. The real focus for traders is the EIA report for June 6.
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But in contrast you can...
Ethereum core developers have discussed a list of 29 proposed code changes to be included in ethereum's next system-wide upgrade, Istanbul.
Barrick, which owns 63.9% of London-listed Acacia, proposed on Tuesday to buy out the minority shareholders as part of efforts to resolve a 2017 tax dispute with the Tanzanian government. The discount has elicited complaints from some of Acacia's minority shareholders, but Bristow said the offer was fair because Barrick was taking on more risk.
It's nice to see the Sixty North Gold Mining Ltd. (CNSX:SXTY) share price up 20% in a week. But that's small comfort...
A Look at These Gold Miners' Financial Health after Q1 Results(Continued from Prior Part)Strengthening balance sheetsInvestors are usually not concerned about gold miners’ (GDX) (GDXJ) financial health when precious metal prices are high. However,
Based on the early price action and the current price at 109.556, the direction of the USD/JPY on Friday is likely to be determined by trader reaction to the uptrending Gann angle at 109.573.
Natural gas prices rebounded sharply rising back above 2.57, following a smaller than expected draw in natural gas inventories. Natural gas prices whipsawed moving higher after tumbling on Wednesday. The MACD (moving average convergence divergence) index is poised to generate a crossover sell signal.
The stock markets get hammered during the trading session on Thursday, showing signs of extreme weakness as we slammed into the major uptrend line I have marked on the chart.
Silver markets rallied quite significantly during the trading session on Thursday, as we continue to see a lot of volatility in the world markets. However, we are still very much in a downtrend, and even with the strong move during the day on Thursday, nothing has changed.
Crude oil markets got absolutely hammered on Thursday, breaking major support in the form of the longer-term trend lines. Because of this, it looks as if the trend is changing before our very eyes.
Natural gas markets popped a little bit during the day on Thursday, as we had oversold the market for the last couple of days. Ultimately, this is a market that is in a downtrend, but we will get the occasional rally.
With the clowns running things in London, it’s no surprise that the British pound can hang onto gains. With this being the case, it’s very difficult to imagine a scenario where we bounce, at least in the short term and it now looks as if we are getting ready to test the next major support level.
The Australian dollar fell a bit during the trading session on Thursday, as we continue to see a lot of noise. Keep in mind that the Australian dollar is highly levered to the US/China trade situation, which isn’t going very well.
A bearish EIA report is likely to lead to a test of $2.550 to $2.534. If they fail then look for a move toward $2.500. A bullish EIA report could drive prices back into a series of potential retracement zone resistance at $2.609, $2.619, $2.632 and $2.641.
The Bank of Russia will consider the use of a gold-backed cryptocurrency to facilitate international settlements, according to its governor.
Investing.com -- Crude oil prices fell sharply to their lowest since March on Thursday, as another surprisingly strong increase in U.S. stockpiles last week eased market fears about short-term supply risks, and let worries about the U.S. China trade war and its impact on longer-term demand to reassert themselves.
Investing.com - Gold prices were little changed on Thursday in Asia following the release of the minutes from last month’s Federal Reserve monetary policy meeting.
Relief over Washington's temporary relaxation of curbs against China's Huawei Technologies Co Ltd faded after reports that the White House is considering further sanctions on Chinese video surveillance firm Hikvision. The yen and franc gained against the dollar and U.S. Treasury prices rose, but declines in U.S. and European equity markets were relatively subdued after recent sell-offs. "The market is still expecting a resolution or at least a modification of some of the worrying aspects out there about the trade relationship," said John Vail, chief global strategist at Nikko Asset Management in New York.