|Day's Range||1,342.60 - 1,343.90|
Crude oil markets did very little during the trading session on Monday, as markets in general took a break. Keep in mind that the Federal Reserve has a statement coming out on Wednesday that will greatly influence markets overall.
TORONTO/LONDON (Reuters) - Ahead of Tuesday's deadline for Barrick Gold Corp to make a firm buyout bid for its Acacia Mining unit, a gold rally has eroded, but not eliminated, a discount and big Acacia shareholders say they still oppose the offer. Barrick must either firm up its proposal to acquire the 36.1% of Acacia it does not own by June 18, or walk away for at least six months under British takeover law. In the event opposition melts away and a friendly offer materialises, 75% of the minority shareholders would have to back it.
The Zacks Analyst Blog Highlights: PDC Energy, Exxon Mobil, AngloGold Ashanti, NovaGold Resources and VanEck Vectors Oil Refiners
Gold prices stopped rising early in the third week of June. On Monday June 17th, the Troy ounce is trading at 1340.10 USD with the last week’s high being at 1362.20.
Newmont Goldcorp said on Monday it had resumed shipping concentrate from the Peñasquito gold mine in Mexico after a blockade by a trucking contractor and some members of the Cedros community was lifted. Delivery of supplies to the site have also resumed, Newmont said, adding that the downtime from the suspension was used to bring forward maintenance on some systems and equipment. It accounts for about 17 percent of Newmont Goldcorp's net asset value, according to Scotiabank.
The head of Russia's central bank has said the institution is investigating the possible future launch of a digital currency.
Investing.com - Gold prices were little changed on Monday, losing steam after five consecutive sessions of gains as investors turned cautious despite expectations for hints at looser policy from the Federal Reserve on Wednesday.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
Switzerland's Metalor, one of the world's biggest gold refineries, said on Monday it would work only with gold from large industrial mines in order to reduce the risk of illegality in its supply chain. Informal methods of gold production, known as "artisanal" or small-scale mining, have grown rapidly in recent years as demand for gold has boomed, pushing prices higher. Artisanal mining provides a livelihood to millions of people, often in poorer countries in South America, Africa and Asia.
All eyes will be on the Federal Reserve’s policy announcement on Wednesday, where any hint of waning patience from policymakers could undermine the Greenback’s recent gains.
Based on last week’s price action and the close at 7504.75, the direction of the September E-mini NASDAQ-100 Index this week is likely to be determined by trader reaction to the Fibonacci level at 7551.00.
Based on last week’s price action and the close at 2894.75, the direction of the September E-mini S&P 500 Index this week is likely to be determined by trader reaction to the Fibonacci level at 2877.75.
Crude oil bulls proved weaker and the strength they attempted to project yesterday, evaporated to a considerable degree. Neither today, they appear any stronger.
The current economic expansion has just equaled with the longest boom in US history. Is that not suspicious? We invite you to read today’s article, which provides you with the valuable lessons from the 1990s expansion for the gold market and find out whether the US economy will die of old age.
As we mentioned last week, Gold should at minimum be on everyone’s radar if not in everyone portfolio. After the break of the psychological $1350, Gold is reclaiming its rightful status as a must-have asset in everyone’s investment portfolio.
Round watches may be the norm but, increasingly, there is a demand for something a little different. Tonneau- or barrel-shaped cases hit peak popularity during the art deco period when they were heralded for their unusual design, particularly flattering to a female wrist. Today they are available in a variety of sizes, and in styles that range from the everyday to the formal.
Over the long-run a direct U.S.-Iran conflict would likely lead to the shutdown of the Strait of Hormuz. This poses a higher risk of oil-supply disruption, which could lead to sharply higher prices. Therefore, we may continue to see attacks, but until there is a military response to the attacks, which would lead to actual supply disruptions, any gains are likely to be limited.
Worries have escalated as the Trump administration blamed Iran for attacks on two oil tankers and U.S. economic adviser Larry Kudlow warned that Beijing may face consequences if it refuses an invitation to restart talks. Gold also got help from bets that the Fed will lay groundwork for looser monetary policy next week. “The news this week has been overridingly gold-friendly,” said Ole Hansen, head of commodity strategy at Saxo Bank.
Prices of the precious metal climbed as concerns about the health of China’s economy hit riskier commodities and tensions in the Middle East boosted haven assets.