from King World News
On the heels of yesterday’s downdraft in the gold market, SentimenTrader says that investors should not be rattled by the one-day reversal in the gold market.
From Jason Goepfert at SentimenTrader: Gold suffered a key reversal day. On Thursday, gold traded more than 1.5% higher than its previous close and briefly enjoyed a new 52-week high. But late selling pressure caused it to reverse and close lower on the day. Single-day price patterns are inconsistent predictors, however, and we see that with similar reversals in gold. Despite the ugly chart, other big reversals did not consistently lead to weakness (see chart below).
Let us go back forty years. Here is one of the greatest scenes in the history of the movies.
Gold prices surged to their highest level in nearly two years yesterday on BREXIT concerns and deepening concerns that the Federal Reserve central banks are slowly losing control of the financial and monetary system.
Janet Yellen just blew all remaining semblances of credibility believed to be still present at the U.S. Federal Reserve Board.
An eerie calm has settled on markets, while others are rebounding. Unfortunately there’s no getting around the hard truth that it’s partly on the back of the death of U.K. politician Jo Cox, gunned down on Wednesday as a heated campaign rages over EU membership.
How close was presumed killer Omar Mateen to the bizarre world of Washington politics?
Holdings in exchange-traded funds backed by silver swelled to a record as investors sought a haven from global economic and political risk.
This week, clients have been net selling gold, silver, and platinum.
Renters Squeezed by the Fed’s “Wealth Effect”
The roulette game all started in the fall of 2014, about 2 years after Chairman Xi Jinping came to power and became the General Secretary of the Communist Party of China.
Probably the smartest thing that the public can do, in the US and the UK at the least, is something that changes the basis of this ‘new normal’ that the professional plutocrats find to be so comfortable for themselves, if not for their broad constituencies.
Like an oak slowly growing in a stand of pines, the outgrowth of sentiment extremes become visible through major market inflection points. The irony, however, is seeing them. This is because on both sides of a market cycle there is a natural tendency for conditions otherwise thought abnormal to become commonplace. As much as we try to anchor our baseline expectations with history, inevitably, paradigm creep sets in as markets and sentiment slowly become stretched beyond more rational assumptions.
“I don’t think the outlook is encouraging at all.”
I know videos aren’t terribly popular here unless they are under 30 seconds in length contain bouncing titties or involve music you can leave playing in the background. However, unless you’ve seen this video before I can guarantee you’ll learn something new. Give this just 20 minutes. If you don’t learn something new or something that doesn’t inspire you to finish watching in the first 20 minutes then by all means give it a pass.
The world is at a dangerous crossroads. The United States and its allies have launched a military adventure which threatens the future of humanity. Major military and covert intelligence operations are being undertaken simultaneously in the Middle East, Eastern Europe, sub-Saharan Africa, Central Asia and the Far East. The US-NATO military agenda combines both major theater operations as well as covert actions geared towards destabilizing sovereign states.
Today was one of the strangest market days I have seen in a while. This morning, the odd combination of gold, the dollar, and US treasuries were soaring. Equities were down pretty hard.
HSBC has agreed to pay more than £1bn to settle a securities fraud class action that stemmed from the bank’s takeover of a US sub-prime lender more than a decade ago.
On a day when the price of gold market saw a $40 trading range, and oil tumbled nearly $2, here is the big surprise.