|Day's Range||17.030 - 17.315|
Silver markets went back and forth during the week, as we continue to dance around the $70.00 level. At this point, the market looks very likely to be a bit exhausted, as the $17.00 level has been important more than once.
The Euro initially tried to rally during the beginning of the week but we then broke down significantly to reach towards the 1.10 EUR level underneath. This is a very negative looking candle stick and it could lead to much more.
BENGALURU/MUMBAI (Reuters) - High prices prompted Asian consumers to sell back physical gold this week to lock in profits, though price dips still attracted buying as economic jitters burnished the metal's appeal as a haven from risk. Global benchmark spot gold hit a six-year high on Tuesday and was headed for a third straight week of gains, up 1%.
XAU/USD is ready to close positive for the third week in a row. Gold is posting 1.02% gains on the last five days, but the movements are more on a sideways mode above the 1,500 area and contained by the 1,530.
Investing.com - Gold prices dropped on Friday, giving back a small portion of August’s gains, as sovereign debt yields pulled away from historic lows and signs of economic stimulus boosted risk sentiment.
The jewelry brand's first full men's collection includes stuff like a silver-encased compass and a necklace that resembles military dog tags.
(Bloomberg) -- One of the few remaining bulwarks propping up the U.S. coal industry is languishing.Prices for steelmaking coal, which has sustained miners as exports decline and power plants forsake the fuel, are down 22% since May as concerns about the global economy weigh on demand for steel.That has U.S. miners treading water as their shares sink. Peabody Energy Corp. and Arch Coal Inc. are expanding production of metallurgical coal to offset falling prices, and both say those efforts will have little impact on earnings. The moves reflect the challenges facing an industry that has few options to drive growth in a world that’s turning away from the fuel.“If you’re in the coal business, these are the times that try you,” Randy Atkins, chairman of Ramaco Resources Inc., said on a conference call Wednesday. “The thermal coal market has pretty much dropped off the shelf. Even met coal benchmark prices that have held pretty steady at reasonably strong levels over the past year have now dropped.”Ramaco, which produces met coal almost exclusively, attributes falling prices to uncertainties in the Chinese market, especially over import restrictions.Peabody, the biggest U.S. coal company, says the issues in the met coal market are broader. Prices have “eased largely due to the global concerns around trade and economic growth,” Chief Executive Officer Glenn Kellow said during the St. Louis-based company’s second-quarter earnings call last month.He expects met coal production to increase in the second half, but lower prices mean Peabody’s adjusted earnings before interest, taxes, depreciation and amortization will be in line with the $481.9 million reported for the first half.Arch, the No. 2 producer, will boost met coal output as much as 29% in the second half, potentially reaching 4 million tons. However, the financial contribution this quarter from those operations will be comparable to the second quarter, as “increased shipping volumes are projected to be counterbalanced by lower index-based pricing,” Arch President Paul Lang said during the St. Louis-based company’s second-quarter earnings call.Weak pricing prompted Contura Energy Inc. to trim its 2019 shipment forecast for met coal by about 5.2%, “rather than being overly aggressive in selling at low returns into the buyer’s market,” CEO David Stetson said on a conference call Wednesday. “It’s prudent to be more conservative given the softness we experienced at the end use markets, most notably Europe and South America.”Investors have watched shares follow met coal prices downward. Peabody has lost almost a quarter of its value since the end of the second quarter, while Ramaco and Contura are both down by more than a third.Prices are unlikely to stay low forever because demand is tied to steel production, which isn’t going away. Global investment in met coal production is low, Ramaco executives said, which will help support prices as demand increases.And the silver lining is that prices may be close to a bottom, according to Daniel Scott, an analyst with Clarksons Platou Securities. While he doesn’t expect steel demand to increase significantly in the near term, especially in China, inventory levels at mills are below average. That could drive sales and provide some stability to the market.“While we think pricing could continue to move slightly lower from today’s levels, we expect it to find a floor soon,” he said in a research note.(Michael R. Bloomberg, the founder and majority stakeholder of Bloomberg LP, the parent company of Bloomberg News, has committed $500 million to launch Beyond Carbon, a campaign aimed at closing the remaining coal-powered plants in the U.S. by 2030 and slowing the construction of new gas plants.)To contact the reporter on this story: Will Wade in New York at email@example.comTo contact the editors responsible for this story: Lynn Doan at firstname.lastname@example.org, Reg Gale, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Technical conditions are losing bullish steam, so more consolidation in the XAU/USD is expected. In any case, the market is entirely focused on fundamental factors and concern about the health of the economy is what is moving the assets.
Bertrand Piccard circumnavigated the globe in a solar-powered airplane. So he knows a thing or two about sustainability.
The Zacks Analyst Blog Highlights: Equity Lifestyle Properties, Equity Residential, Kinross Gold, Barrick Gold and Kirkland Lake Gold
A Peruvian court ordered the arrest of the indigenous governor of a mineral-rich southern region after sentencing him to six years in prison on Wednesday for leading 2011 deadly protests against a Canadian open-pit silver project. Walter Aduviri, 39, the governor of Puno and an indigenous Aymara leader, was found guilty in absentia by a criminal court of disturbing public order, the office of the judiciary said on Twitter. Agustin Luque, the deputy governor of Puno, was expected to replace him in office.
In our recent overview of the 2019 Hyundai Tucson detailing model-year changes, we called the compact crossover "Steady as bedrock." That characterization will apply to the 2020 Tucson as well, since Hyundai's made barely a change.
The S&P; 500 broke down rather significantly off the open on Wednesday as we continue to see a lot of problems around the world. Quite frankly, there are a multitude of reasons to believe that the stock market would struggle.
Silver markets went back and forth during the trading session on Wednesday as we continue to dance around the $17.00 level. This is an area that of course attracts a lot of attention so the fact that we are dancing around should not be a huge surprise.
The crude oil markets broke down rather significantly during the trading session on Wednesday as we had reached a major resistance in both grades that I follow here at FX Empire.
Natural gas markets rallied during the trading session on Wednesday, slamming into the $2.20 level before pulling back. At this point, I believe it is probably still going to be the same story we have seen for some time: every time this market rallies, you should be looking for a selling opportunity.
The US dollar broke down against the Japanese yen in a bid for safety, as the Japanese yen is considered to be a “safety currency.” With that being the case, I think we will continue to break down, so perhaps the ¥105 level will be targeted.
After rallying at the start of the year, silver stocks and silver and exchange-traded funds (ETFs) spent months giving back those gains and badly lagging competing gold products. Historically, silver prices are strongly correlated with gold, so when bullion moves higher, expectations are in place that the white metal will follow suit. It took awhile for silver ETFs to get their respective acts together, but it happened.After putting in a bottom in June, the iShares Silver Trust (NYSEARCA:SLV), the largest ETF backed by physical holdings of silver, surged more than 11% just this month to reside near its highest levels in several years.While silver ETFs are more volatile than their gold counterpart, the two precious metals are often bolstered by the same factors, including geopolitical tensions, lower interest rates, investors' desire for safe-haven assets and a weaker dollar, among other factors.InvestorPlace - Stock Market News, Stock Advice & Trading TipsGold and silver ETFs share another trait: miners tend to overshoot price action in those metals, both to the downside and the upside. That explains why investors that keep track of such things have been seeing so many silver ETFs on the 52-week high lists in recent weeks. * 15 Growth Stocks to Buy for the Long Haul Indeed, the white metal has rallied in epic fashion over the past two months, but these silver ETFs could have more upside in store for investors, particularly if the dollar declines. Silver ETFs to Buy: ETFMG Prime Junior Silver ETF (SILJ)Expense Ratio: 0.69% per year, or $69 annually per $10,000 investedThe ETFMG Prime Junior Silver ETF (NYSEARCA:SILJ) has been around for nearly seven years, making it one of the original silver ETFs dedicated to small-cap miners. While the combination of miners and small-cap stocks might suggest that SILJ is not a suitable alternative for conservative investors, with this silver ETF up nearly 23% this month, it's hard to knock it when silver prices are rising.SILJ holds 32 stocks "seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Prime Junior Silver Miners & Explorers Index," according to ETFMG.Canadian miners account for over two-thirds of SILJ's weight while U.S.-based silver producers check in at almost 17%. There is some emerging markets exposure (almost 16%) because Peru and Brazil are major silver producers. Global X Silver Miners ETF (SIL)Expense Ratio: 0.65%Home to nearly $450 million in assets under management, the Global X Silver Miners ETF (NYSEARCA:SIL) is one of the largest silver miners ETFs. When the white metal surges, this silver ETF is a high-fly act in its own right as highlighted by its month-to-date gain of almost 13%.A world awash with negative interest rates, central banks lowering borrowing costs and thirst for safe assets are among the factors boding well for silver ETFs, including SIL. But this fund is attractive for another reason: Silver's valuations relative to gold are appealing. * 7 Stocks the Insiders Are Buying on Sale "A common valuation metric to assess whether silver is undervalued relative to gold is the gold/silver ratio. A high ratio indicates silver could be undervalued," said Global X in a recent note. "Historically, since 1998, the gold/silver ratio has averaged a level of around 64. As shown in the chart below, although silver has rallied recently, the ratio remains well above historical levels at just below 90. This could be an indication that within the precious metals complex, silver may be more of a relative value play than gold." iShares MSCI Peru ETF (EPU)Expense Ratio: 0.59%Obviously, the iShares MSCI Peru ETF (NYSEARCA:EPU) is not a dedicated silver ETF, but it is the only ETF dedicated to stocks in one of the world's largest silver-producing countries. On that note, EPU has been a disappointment this year as it has traded mostly flat.EPU is more than a decade old, tracks the MSCI All Peru Capped Index and holds just 24 stocks. That roster size is reflective of the small size of Peru's equity market, but EPU does a more than adequate job of representing the commodity's intensive nature in Peru's economy, with a weight of more than 46% dedicated to materials stocks, including some silver miner stocks found in the fund's top 10 holdings.Peru's central bank recently cut interest rates, joining a slew of emerging markets that have done so, but that move was on the back of some weak economic data, indicating investors may want to wait for the numbers to firm up in Peru before embracing EPU. iShares MSCI Global Silver Miners ETF (SLVP)Expense Ratio: 0.39%As you've probably noticed, miners ETFs carry higher fees than typical sector and industry funds and many are pricier than standard commodities funds like SLV. I'm not saying the iShares MSCI Global Silver Miners ETF (CBOE:SLVP) is the best silver ETF, but at the very least, it is the cheapest silver miners ETF as highlighted by its annual fee of just 0.39%.SLVP tracks the MSCI ACWI Select Silver Miners Investable Market Index and is higher by nearly 26% year-to-date. The trade-off in getting this silver ETF's lower-by-comparison fee is concentration risk. This iShares fund allocates 23.23% of its weight to just one stock: Wheaton Precious Metals Group (NYSE:WPM). * 10 Medical Marijuana Stocks to Cure Your Portfolio That stock is up 41.12% year-to-date and looks poised for a technical breakout, but if the market sours on Wheaton, it will be next to impossible for SLVP to emerge unscathed. Aberdeen Standard Physical Silver Shares ETF (SIVR)Expense Ratio: 0.30%The Aberdeen Standard Physical Silver Shares ETF (NYSEARCA:SIVR) is not a miners fund. Rather, this silver ETF is backed by physical holdings of the white metal, meaning it is appropriate for long-term investors looking for some commodities exposure as a way of adding some diversity to equity and fixed income-heavy portfolios.SIVR's primary rival is the aforementioned SIL. While the iShares product is bigger, long-term investors should be seduced by size because SIVR is 20 basis points per year cheaper than SIL.Noting that commodities funds like SIL and SIVR do not pay interest or dividends, meaning that capital appreciation is the sole driver of investor outcomes, fees really make a difference here. This makes SIVR is the best silver ETF to buy for cost-conscious investors.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Growth Stocks to Buy for the Long Haul * 5 More Cloud Stocks With Plenty of Potential * 5 Clean Energy ETFs to Buy for 2019 The post 5 Silver ETFs That Will Keep Shining appeared first on InvestorPlace.
Global stocks rebound as trade tensions thaw but the relief rally fizzled when the U.S. yield curve went into a full inversion. Recession fears are heightened around the world.
According to experts who watch this event as an indicator, a recession happens, on average, 22 months following the inversion. So, fears about a recession jumped, and risk aversion flooded markets.