Gold gets a downgrade at Goldman Sachs, the firm lowering its 2013 end-of-year price forecast to $1,800/oz., and 2014 to $1,750. "We see growing downside risks ... the gold outlook is caught between the opposing forces of more Fed easing and a gradual increase in U.S. real rates on better U.S. economic growth." [View news story]
A strike at Californian ports is threatening to delay the delivery of some holiday season cargo after longshoremen and clerical workers began action on Tuesday due to an impasse in contract talks. As of yesterday, seven of eight terminals at the Port of Los Angeles were closed, as were three of six in Long Beach. Ships have started to divert to other ports, including Mexico [View news story]
Most holiday stuff is already in port. This explains the 15% jump in imports last month so the November and December numbers should smooth the data.
It is not about Gold rising in price and the Dow falling in price, it is about Gold rising at a faster rate than the Dow. So far this year Gold is up in the double digits while the Dow is in the low to mid single digits.
It's a kitchen sink of initiatives agreed to by the Troika to help reduce Greece's debt load. Among them are buybacks of the country's debt, a return of profits booked by the ECB from its SMP purchases, a reduction in bailout program interest rates, and the outright deferral of some interest payments. Worried about frontrunning? Lagarde: "The less we talk about the debt buyback, the better we are with regard to pricing." [View news story]
This is just bullish for gold. Europe is monetizing Greece's and other countries debts while they continue to run up deficits.
I may be reassessing my final price targets for gold and silver.
It's a kitchen sink of initiatives agreed to by the Troika to help reduce Greece's debt load. Among them are buybacks of the country's debt, a return of profits booked by the ECB from its SMP purchases, a reduction in bailout program interest rates, and the outright deferral of some interest payments. Worried about frontrunning? Lagarde: "The less we talk about the debt buyback, the better we are with regard to pricing." [View news story]
Just kicking the can down the road until the German election is over and they can negotiate a principal writedown.
7.8T reasons dividend tax increases won’t crush stocks: That's the estimated value of all equity assets held by retirement investors that are not tax sensitive. Though it seems counterintuitive, Lucas Kawa thinks an increase on dividend tax rates might actually benefit the millions who hold high-yield dividend stocks in their IRAs and are able to buy into a potential sell without being impacted by the rising tax rate. [View news story]
Agreed. You used to be able to hold good discussions down here but now everything is becoming politicized.
The Troika is reportedly inching closer to a deal that would allow Greece to receive the next tranches of its bailout, with the IMF agreeing to deem the country's debt viable if it falls to 124% of GDP by 2020 instead of 120%. That apparently means that the funding gap that negotiators need to plug falls to around €10B, for which several proposals have been made. It seems to be a case of, if you pass the red danger line, move the line. [View news story]
Merkel is trying to avoid making the election a referendum on the Euro which terrifies Europe.
The last thing the European political leaders need is a German election where the electorate is asked to take sides between cutting Greece loose/leave the Euro and a debt writedown.
The Troika is reportedly inching closer to a deal that would allow Greece to receive the next tranches of its bailout, with the IMF agreeing to deem the country's debt viable if it falls to 124% of GDP by 2020 instead of 120%. That apparently means that the funding gap that negotiators need to plug falls to around €10B, for which several proposals have been made. It seems to be a case of, if you pass the red danger line, move the line. [View news story]
Actually, it is kick the can down the road until after the German election in September of next year.
A strong early start to the holiday shopping season looks to be a bright spot for the stock market, but both could soon stall if lawmakers don't make progress on the “fiscal cliff” when they return in the coming week. Despite the promises of congressional leaders and the President to reach a compromise, many on Wall Street are betting Washington will revert to its old self-destructive ways before any deal is reached - and that could easily upset the stock market, as well as holiday shoppers, particularly those at the high end. [View news story]
Unfortunately the economy is not strong with economic growth under 2% and fewer jobs being added against new entrants to the workforce.
People I speak with are too sanguine about this being resolved but it concerns me since it has dragged on for almost two years now.
We can't keep adding a trillion dollars to the national debt every year and expect to not fall into a Japanese style debt trap.
Pan American Silver Turns The Corner [View article]
I presume that they decided to walk away after coming to the conclusion that the project did not meet their internal rate of return.
Orko has indicated that they would rather sell the deposit than operate it so while the PEA looks attractive one has to remember that Pan American would only earn a 55% interest by delivering the feasibility study, which would not include the cost of acquiring the property.
So Pan American would have to buy the property and then spend the capital to put it into production which can make the property less attractive when this is factored into the discussion.
I have not looked into this area but Durango has been suffering under a severe drought. There may have been water issues with regard to access and these issues have affected producers across the board.
The Vickers insider sell:buy ratio falls below 2:1 for just the 4th time since March 2009, writes Mark Hulbert, who notes it neared 7:1 at about the time of the market peak 2 months ago. The other 3 occasions, the ratio fell below 2:1, a significant bottom in the market was near. [View news story]
I think we are due for a rally soon but unless we see some corporate profit growth the upside is likely limited.
Technology 2013: The Gladiators Have Entered Into The Ring [View article]
Apple should be ok. If anything this past year has shown them that they have to push themselves again in order to remain at the cutting edge.
Gold gets a downgrade at Goldman Sachs, the firm lowering its 2013 end-of-year price forecast to $1,800/oz., and 2014 to $1,750. "We see growing downside risks ... the gold outlook is caught between the opposing forces of more Fed easing and a gradual increase in U.S. real rates on better U.S. economic growth." [View news story]
A strike at Californian ports is threatening to delay the delivery of some holiday season cargo after longshoremen and clerical workers began action on Tuesday due to an impasse in contract talks. As of yesterday, seven of eight terminals at the Port of Los Angeles were closed, as were three of six in Long Beach. Ships have started to divert to other ports, including Mexico [View news story]
Gold Looks Expensive [View article]
Even CD's offer yields so small they might as well call them zero coupon.
Flash crash in gold? The yellow metal dives $20 in the space of a few trades, now -1.6% to $1,716/oz. [View news story]
Gold Looks Expensive [View article]
To see it relevance check here:
http://bit.ly/UrJzu7
Gold Looks Expensive [View article]
Technically, we are a little overbought but the fundamentals remain in place for this rally to continue over the long term.
It's a kitchen sink of initiatives agreed to by the Troika to help reduce Greece's debt load. Among them are buybacks of the country's debt, a return of profits booked by the ECB from its SMP purchases, a reduction in bailout program interest rates, and the outright deferral of some interest payments. Worried about frontrunning? Lagarde: "The less we talk about the debt buyback, the better we are with regard to pricing." [View news story]
I may be reassessing my final price targets for gold and silver.
It's a kitchen sink of initiatives agreed to by the Troika to help reduce Greece's debt load. Among them are buybacks of the country's debt, a return of profits booked by the ECB from its SMP purchases, a reduction in bailout program interest rates, and the outright deferral of some interest payments. Worried about frontrunning? Lagarde: "The less we talk about the debt buyback, the better we are with regard to pricing." [View news story]
7.8T reasons dividend tax increases won’t crush stocks: That's the estimated value of all equity assets held by retirement investors that are not tax sensitive. Though it seems counterintuitive, Lucas Kawa thinks an increase on dividend tax rates might actually benefit the millions who hold high-yield dividend stocks in their IRAs and are able to buy into a potential sell without being impacted by the rising tax rate. [View news story]
The Troika is reportedly inching closer to a deal that would allow Greece to receive the next tranches of its bailout, with the IMF agreeing to deem the country's debt viable if it falls to 124% of GDP by 2020 instead of 120%. That apparently means that the funding gap that negotiators need to plug falls to around €10B, for which several proposals have been made. It seems to be a case of, if you pass the red danger line, move the line. [View news story]
The last thing the European political leaders need is a German election where the electorate is asked to take sides between cutting Greece loose/leave the Euro and a debt writedown.
The Troika is reportedly inching closer to a deal that would allow Greece to receive the next tranches of its bailout, with the IMF agreeing to deem the country's debt viable if it falls to 124% of GDP by 2020 instead of 120%. That apparently means that the funding gap that negotiators need to plug falls to around €10B, for which several proposals have been made. It seems to be a case of, if you pass the red danger line, move the line. [View news story]
A strong early start to the holiday shopping season looks to be a bright spot for the stock market, but both could soon stall if lawmakers don't make progress on the “fiscal cliff” when they return in the coming week. Despite the promises of congressional leaders and the President to reach a compromise, many on Wall Street are betting Washington will revert to its old self-destructive ways before any deal is reached - and that could easily upset the stock market, as well as holiday shoppers, particularly those at the high end. [View news story]
People I speak with are too sanguine about this being resolved but it concerns me since it has dragged on for almost two years now.
We can't keep adding a trillion dollars to the national debt every year and expect to not fall into a Japanese style debt trap.
Pan American Silver Turns The Corner [View article]
Orko has indicated that they would rather sell the deposit than operate it so while the PEA looks attractive one has to remember that Pan American would only earn a 55% interest by delivering the feasibility study, which would not include the cost of acquiring the property.
So Pan American would have to buy the property and then spend the capital to put it into production which can make the property less attractive when this is factored into the discussion.
I have not looked into this area but Durango has been suffering under a severe drought. There may have been water issues with regard to access and these issues have affected producers across the board.
The Vickers insider sell:buy ratio falls below 2:1 for just the 4th time since March 2009, writes Mark Hulbert, who notes it neared 7:1 at about the time of the market peak 2 months ago. The other 3 occasions, the ratio fell below 2:1, a significant bottom in the market was near. [View news story]