Another Financial Institution Has Upgraded Gold Price Year End Target

Another bullish gold price update comes from TD Securities which is now projecting a move to $1800 an ounce and then a jump to $2000 near yearend. Gold prices rallied along with risk assets this week. At one point gold even neared $1700 an ounce. At the time of writing April Comex gold futures were trading at $1636.40 up 0.18% on the day. There are many drivers supporting gold at the moment and once the COVID19 outbreak peaks constructive price conditions will remain said TD Securities head of global strategy Bart [read more]

Is It Time To Buy Energy Stock?

Dow component Chevron Corporation (CVX) rose nearly 23% in Tuesdays session after announcing that there were no plans to cut the whopping 9.52% dividend despite a historic crash in the crude oil market. The stock had dropped 55% in two and a half months to its lowest low since 2005 before the news caught in a sector bear market that is likely to trigger dozens of bankruptcies at less liquid rivals.Chevron isnt a bad choice in this regard. It boasts a market cap of $125.1 billion and is engaged in an aggressive costcutting plan seeking [read more]

Financial Adviser Explained Why Owning Gold And Gold ETF Is Good In Time Like This

Almost nobody on Wall Street has noticed the full price surge for actual gold bars and coins. Thats because financial traders mostly just deal in paper contracts for gold. Those are basically gold IOUs a mere promise to deliver gold if the buyer ever wants.Thomas McCarthy a financial planner at McCarthy & Cox a firm that specializes in retirement planning and estates says putting some of your retirement portfolio into gold isnt crazy. Gold can be a hedge against fear and holding a small 5% position of gold is not a [read more]

Huge Spread Occurring In Gold Price

Huge spreads are occurring in the gold market Tuesday with pricing for futures contracts far above spot prices.Also earlier in the day nearby futures were more expensive than deferred a sign of strong demand in any commodity market.Just before noon EDT one price vendor was showing spot metal was trading at $1612.10 an ounce while at the same time showing the Comex April futures were at $1654.10 an ounce a spread of $42 an ounce. It was much wider earlier in the day. [read more]

Bullish US Dollar Index To Hit 105 In Short Term

World markets are facing a simple but serious problem There just arent enough dollars to execute trades and transactions.That explains why the tradeweighted dollar index gained more than 4% last week. Given the scarcity of dollars the U.S. Federal Reserve last week announced that it set up financing channels with nine other central banks including the Reserve Bank of Australia and Monetary Authority of Singapore to stabilize currency markets.That opened access to $450 billion of additional dollar funds with a commitment to [read more]

What To Expect For NIKE Earning Tomorrow After Market Close

Nike earningsThe earnings calendar will be rather light this week. Market participants will be paying close attention to shoe giant Nikes results when it reports Tuesday after the closing bell. Nike is expected to report earnings of 58 cents per share on $9.87 billion in revenue during its fiscal third quarter.Nike was among the first group of retailers to announce store closures in response to the COVID19 pandemic. The Beaverton Ore.based company closed all 384 retail stores in the U.S. from March 16 to March 27. Despite the massive store closures the company is [read more]

GBPUSD 1.14889

GBPUSD remains on the back foot near 1.14889 during the early Asian session on Thursday. The Cable earlier slumped to the lowest since 1985 while trimming more than 500 pips daily. However the following higher low formation portrayed an ascending triangle on the 30minute chart.Sellers are waiting for fresh entries below the patterns support of 1.1485 to revisit the previous days low of 1.1450. Though oversold RSI indicates the chances of the pairs pullback which in turn could challenge the patterns resistance line of 1.1665.source [read more]

AUDUSD Cloud Fall To 0.60000 If It Fail To Go Back Above 0.61900

AUDUSD remains weak and it could slip back to as low as the 0.60 region in the next weeks in opinion of FX Strategists at UOB Group.Key Quotes24hour view AUD dropped below the bottom of our expected 0.61000.6250 range (low of 0.6076) before recovering slightly. While downward pressure has eased it is too early to expect a sustained recovery. From here AUD could continue to edge lower towards 0.6050 (next support is at 0.6007). Only a move back above 0.6190 would indicate the current weakness has stabilized.Next 13 weeks There is not much [read more]

Investors Around Asia Are Selling Back Their Gold To Take Advantage Of The High Price

Hong Kongs jewellers who took a big hit from months of antigovernment protests have found their shops busy again this year.But the new wave of customers are not shopping for bracelets wedding rings or earrings. They are there to sell their gold jewellery.Sellers are taking advantage of the gold price which has climbed almost 10 per cent this year to reach a sevenyear high early last week. The rapid spread of coronavirus has dampened stock markets globally and investors have been rushing to buy the yellow metal [read more]

Tiffany & Co. To Report Earning Friday Before Market Open

Earnings announcement for TIF Mar 20 2020Tiffany & Co. is expected to report earnings on 03202020 before market open. The report will be for the fiscal Quarter ending Jan 2020. The consensus EPS forecast for the quarter is $1.72. The reported EPS for the same quarter last year was $1.6.Earnings Per ShareQuarterly Earnings Surprise AmountYearly Earnings ForecastQuarterly Earnings Forecastsource NASDAQ [read more]