Markets rediscover risk–for a day anyway
This morning it looks like the combination of turmoil in Washington and some weak economic data have led traders and investors to take money out of risk assets and put money into safe havens. As of 11:40 a.m. New York time, the Standard & Poor’s 500 was off...
We’ve moved to a risk-off market–for how long?
It’s a classic risk off market today as of 4 p.m. New York time. All the safe havens are up. The yen is ahead 1.2% to 109.65 to the dollar, breaching the 110 level for the first time since November. Gold is 1.73% higher to $1275.60 an ounce. The 10-year U.S....
Winners from the Fed’s move on Wednesday
The jump in the price of gold and the even huger spike in the prices of gold mining stocks tells us something really important about how the financial markets see the Federal Reserve’s action and rhetoric on Wednesday, March 15. On Wednesday gold for April...
Here’s what I’ve been writing about on my paid sites: Reading oil prices from the futures market and a (possible) return of volatility and the VIX
Let me share two inside baseball investing posts that I put up today on my paid sites. Yes, that’s sites. Plural. I’ve been busy building a second site, JugglingWithKnives.com, that parallels the focus of my book Juggling With Knives on volatility. If you...
Pre-holiday move to safety starts a little early
With trading volumes already starting to slip–trading in Standard & Poor’s 500 stocks was running about 25% below its average for this time of day at noon today–traders and investors are locking in some gains and seeking safety for the week...
This “vulnerable” market looks to be shifting to a risk off stance
On the surface and if you look only at the market wide indexes, nothing much happened today. The Standard & Poor’s 500 stock index, for example, finished just 0.31% lower–that’s 6.63 points–to 2132.55. But look at which assets and sectors...
Today gold pays attention to dollar, interest rates, Fed
Sometimes it’s not so much new news that moves the market as it is a tipping point where the market decides to pay attention to what it has known all along. Today gold dropped to a three-month low to close at $1253 an ounce. That drop brings the 200-day moving...
Economy and financial markets point in different directions ahead of Wednesday’s Fed meeting
Pity the poor Federal Reserve. In making decisions about interest rates–in this case about whether or not to raise interest rates at its June, July or September meetings–it has to consider the condition of both the real economy and the financial markets. And right now...
What are the chances that the Brexit polls are wrong?
To anyone getting all warm and cozy with the polls showing that voters will decide to stay with the European Union in Thursday’s Brexit vote, I’ve got just one word of warning: Michigan. Remember the Michigan primary between Hillary Clinton and Bernie Sanders this...
Buy Yamana Gold (AUY)
Now that’s more like it. When I dropped Kinross Gold (KGC) from my long-term Jubak Picks 50 portfolio https://jubakpicks.com/jubak-picks-50/ on January 13 I said that what I wanted in a gold mining stock was a company with low production costs and rising production....Sell Newmont Mining (NEM)
I’m going to sell Newmont Mining (NEM) out of Jubak’s Picks today. Two reasons. First, gold is looking kind of toppy with traders edging toward an exit just in case the violence in Libya shows any sign of resolution. The noon price for gold of $1414 an ounce is only...Update Goldcorp (GG)
On January 13, Goldcorp (GG) announced production and cost guidance for 2011. Let’s just say that my investment thesis for Goldcorp—that this is a low-cost producer of gold with rising production—remains intact. In 2010, the company said, gold production grew to a...With inflation on a run, the Chinese are buying gold too
China has treated data on the country’s level of gold imports as a state secret—until last week. And the newly public data shows that China is on a path that would have the country overtake India as the world’s largest consumer of gold. Think this might be bullish for...Is the glitter back for gold?
Important shift in the market yesterday. Maybe. And it looks like the market is following through today. A stronger “Maybe.” Yesterday, as on most days recently, the dollar was up and the euro down on fears that the euro debt crisis is escalating. That’s...With no strong trend out of today's market, stocks hang on tomorrow's news flow
Bounce or rally? We still don’t know. The U.S. stock markets started with a strong bounce this morning. The Standard & Poor’s 500 index moved up 1.1% off the starting line. Key was “news” from Europe that suggested Ireland might be closer to a rescue deal. That...Expectations for higher gold prices are getting baked into India's huge jewelry market
A minor sign that inflation expectations are starting to become embedded in economies and markets. Minor but important. Especially for investors in gold. Typically, when gold prices rise, the demand for physical gold from the jewelry market falls. Buyers of gold for...Buy Silver Wheaton (SLW)
Silver is cheap. Well, it is when compared to gold anyway. On Friday morning gold hit $1397.70 an ounce, an all time high. (If you don’t correct for inflation.) Silver, on the other hand, moved up to $26.90 an ounce. That’s just a 30-year high. See, cheaper. You...Worried about a bubble in industrial metals? It's Wall Street's new ETFs to the rescue
If you own shares of any miner of copper, lead, tin, nickel, zinc, or aluminum, think about sending a thank you note to investment companies such as ETF Securities, Goldman Sachs, JPMorgan Chase, Deutsche Bank, Citigroup, and Credit Suisse. They’re about to make you...Central banks hold the answer to "How high can gold go?"
Bet you didn’t know that Sunday, September 26, marked the end of the year. Well, it did for the world’s central banks that participate in the Central Bank Gold Agreement, which lays out quotas for how much gold central banks can sell in a year. The agreement was put...Update Goldcorp (GG)
What you think of Goldcorp’s (GG) $3.4 billion bid for Andean Resources will depend on how impressed you are with Goldcorp’s track record valuing potential acquisition candidates. There’s no doubt that Andean Resources’ (ANDPF) Cerro Negro project in Argentina is an...Buy Newmont Mining (NEM)
At some point in every gold rally, the market flips a switch and gold mining stocks start to outperform gold itself. I think we’re at that inflection point now. Analysts on Wall Street are calling for gold to hit $1500 an ounce by December 2011. That would be roughly...Gold hits another record
Gold for August delivery climbed to $1,258 an ounce today, June 18, breaking the record set yesterday. Yes, gold is being propelled to record after record by investors looking for a safe haven from worries about the euro and about global economic growth, and by...Sell Market Vectors Gold Miners ETF (GDX)
I don’t want to get greedy here. Gold is near its all time high of $1227.50 an ounce set on December 3, 2009. You don’t have to look far to find the reasons: the euro debt crisis and inflation fears in China come to mind. I think gold could run higher from here. The...Update Goldcorp (GG)
A work stoppage here. Higher taxes there. And soon you’re talking about an earnings miss for the first quarter. That’s what’s behind the 22 cents a share that Goldcorp (GG) reported for the first quarter. The results were 3 cents a share below Wall Street projections....Buy Market Vectors Gold Miners ETF (GDX)
I’m adding more gold to the Jubak’s Picks portfolio today, April 8. After a rally off the February 8 low on hopes that the global economic recovery was gaining steam, I think we’re due for a swing back to fear on disappointing growth numbers from the European Union,...Update Goldcorp (GG)
After the market close yesterday, March 11, Goldcorp (GG) reported fourth quarter 2009 earnings of 25 cents a share (excluding one-time items). That was in line with the Wall Street consensus. Revenue climbed by 27.8% to $778 million. That was substantially above the...Update Goldcorp (GG)
What you want in a gold stock is a company with rising reserves and falling costs. Goldcorp’s (GG) end of 2009 report on reserves shows that it’s still delivering rising reserves. We’ll see how the company is doing on costs when it reports after the market closes on...No surprise, the dollar lost market share to the euro in the last decade–but not as much as you might think
The U.S. dollar earned about a C+ in the decade from 1999 to 2009, according to the International Monetary Fund (IMF). The dollar’s share of allocated global reserves had declined to 62% by the end of September 2009, according to the IMF. That was down from 71% at the...Good news on jobs hurts Treasuries, oil, stocks; crushes gold
All it took was an unexpectedly strong unemployment report. Following the Bureau of Labor Statistics release of numbers showing the economy lost just 11,000 jobs in November rather than the expected 125,000, the Dollar Index broke above its 2009 trend line and the...Jim’s Daily Email Alerts:
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