|Day's Range||1,273.00 - 1,279.70|
CoinDesk's Noelle Acheson looks at anti-money laundering regulation’s increasing focus on cryptocurrencies, and at the opportunity this presents.
Silver markets went back and forth during the week, which probably had quite a bit of trading volume socked out of it due to the Easter holiday coming, and of course the Good Friday holiday Matt that it was only a four day week to begin with.
Gold markets fell rather hard during the week, crashing into what I believe is a significant support level. It will be interesting to watch what happens next, but clearly we have seen a complete change in attitude over the last several weeks.
The US dollar has gone back and forth against the Japanese yen, reaching at the ¥112 level, which of course has been massive resistance. That being said, it looks as if we have work to do.
Market watchers noted the movement of digital assets from unknown wallets to crypto exchanges, which may indicate a willingness to sell. Whether this is so, we can find out this coming weekend.
President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of the growing dependence of Venezuela's cash-strapped government on Russia as the United States tightens a financial noose around Maduro, who it describes as a dictator. With its economy reeling from years of recession and a sharp decline in oil production, Venezuela was already struggling to finance imports and government spending before Washington imposed tough restrictions on state oil company PDVSA in January.
Zoom Video Communications, Inc., also known as Zoom, went public today on the Nasdaq stock exchange. Zoom, which licenses video-conferencing technology, made $7.5 million in 2018, making it the rare technology IPO that is profitable. Investors rewarded Zoom for that track record in the company’s first day of trading.
Investing.com - The guessing game begins. With exactly two weeks to the expiration of the U.S. sanction waivers on Iran, oil bulls are holding tight to see which way President Donald Trump will lean.
Many investors define successful investing as beating the market average over the long term. But the risk of stock picking is that you will likely buy under-performing companies. Unfortunately, that's been the case for longer...
If buyers take control then look for a test of a pair of uptrending Gann angles at $64.15 and $64.17. Overtaking $64.17 will indicate the buying is getting stronger. This could trigger an acceleration to the upside with $64.72 the next major target.
Based on the early price action and the current price at $1277.60, the direction of the June Comex gold market the rest of the session is likely to be determined by trader reaction to yesterday’s close at $1276.80.
BENGALURU/MUMBAI (Reuters) - Gold premiums in top consumer China jumped to their highest in more than two years, as a drop in global prices and strengthening yuan encouraged purchases amid optimism about the state of the economy. Chinese premiums climbed to about $20 an ounce over global benchmark prices this week, a level last seen in March 2017. Premiums of about $13-$15 were charged last week.
Thin-trading conditions are contributing to today’s early two-sided trade. This price action is likely to continue throughout the session. Throughout the week, gold has been pressured by improving economic data in the U.S. and China. With the emergence of weaker data from the Euro Zone, traders now have to make position adjustments to reflect this.
This time, the CAD Retails numbers are expected to report positive data to the prior negative numbers. Loonie continued to remain subdued within the range of 1.3282/1.3402 levels since April 1.
The markets could experience choppy, two-sided trading today due to thin, pre-holiday volume, and renewed concerns over future demand due to the weak Euro Zone PMI data. Earlier in the week some of those concerns were offset by stronger-than-expected economic data from China.
It suggests a cooling of tensions between Sibanye and one of its biggest unions ahead of potentially fractious platinum wage negotiations later this year. AMCU has been on strike since Nov. 21 after refusing to join a wage agreement that Sibanye reached with other unions. In an apparent victory for Sibanye Chief Executive Officer Neal Froneman, the labor group has now signed the same three-year pact.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.4 percent, reversing course after brushing its highest since late July 2018 early in the trading session. Australian shares were a shade lower while Japan's Nikkei dropped 0.8 percent and Chinese blue chips slipped 0.2 percent. Wall Street shares drifted lower on Wednesday, with the S&P 500 giving up 0.2 percent as a drop in healthcare equities outweighed upbeat economic data from the United States and China.
Crude oil markets continue to press resistance overhead, but at this point it seems as if we aren’t quite ready to make a significant move. With that being the case, it’s very likely that we will continue to chop around with an upward bias.
In a recently released Massif Capital's Q1 2019 Investor Letter, this hedge fund shared its views on a few companies from its portfolio, including Barrick Gold Corporation (NYSE:GOLD). If you are interested you can download a complete copy of the letter - here, while in this article we bring you only the part of the […]