The 6PM Recap With Gary Wagner: No One Needs This Around The Holidays Except For Gold
That sounds glib, but what we mean is that there may be a half dozen to a dozen quality stocks – oversold stocks – that will lead us into some sort of upward movement in the next two shortened trading weeks. (Please note: we only have two and a half days to trade left this week.)
Gold Sees Decent Short-Covering Bounce, Some Technical Buying
Gold prices ended the U.S. day session with fairly good gains Monday. Some follow-through technical buying was seen from Friday’s gains, and some short covering in the futures market was also featured.
Weaker Gold & Silver Prices To Continue To Push Coin Sales To Record Highs In 2016
After seeing surging coin sales throughout the year, particularly with silver coins, the U.S. mint is reporting weaker demand so far in December.
Read moreLiquidating Gold Longs Push Short Positioning Back To Record Levels Ahead Of FOMC Meeting – CFTC
Hedge funds and money managers fled the gold market last week, exiting their speculative long positions and pushing the market back into record short positioning, according to the latest data from the Commodity Futures Trading Commission.
Read moreGold Extends Early Gains as U.S. Dollar Index Weaker
Gold prices are trading solidly higher in late-morning dealings Monday, on follow-through technical buying from Friday’s rebound and on some short covering in the futures market.
Read moreTechnical Trading: Choppy Range For Gold Into Year-End
Gold prices edged higher in early trading Monday, but action has turned choppy and consolidative in recent weeks. Despite the Federal Reserve’s first rate hike in nearly a decade, the gold chart reveals a neutral near-term trend bias.
Read moreGold And Silver 2016 Fortunes Tied To Price Trend In Crude Oil
Gold and silver prices fell to multi-year lows in December. Not coincidentally, so did Nymex crude oil futures. Crude oil has led a “bust” in the raw commodity sector that has been playing out for the past three or four years–depending on the specific…
Read moreAdrian Day: ‘Potentially Good Move In Gold Over At Least The Next Month Or Two’
Money manager Adrian Day sees potential for gold to rally in the next month or two. Historically, “gold was higher a month following a (Federal Reserve) rate increase far more times than it was lower,” says the president and chief executive officer of Adrian Day Asset Management.
Gold Modestly Up on Year-End Short Covering, Technical Bounce
Gold is moderately higher in early U.S. trading Monday, on some short covering in the futures market and on some follow-through technical buying interest after Friday’s bounce.
Randgold Resources Opts Against Joint Venture To Redevelop Obuasi Mine
Officials with Randgold Resources Ltd. (LSE: RRS; NASDAQ: GOLD) say they have decided against redeveloping the Obuasi Mine in Ghana with AngloGold Ashanti, saying the development plan does not meet their investment criteria. In September, the two companies announced their intention to form a joint venture to redevelop the mine, subject to “due diligence” by Randgold.