Loading ...https://finance.yahoo.com/news/barrick-issues-q1-preliminary-results-152203837.html
Call me crazy
but with oil in the $10 range, I just bought some USO at $3.84.
Not sure how much lower oil can go, $5 a barrel?
Some pretty serious deflation going on in certain segments of the economy. This is going to wipe out a large swath of the country. Sad stuff for states like Texas.
Gold hs broken out on the day–up 13.50–at 1713.70-that’s 28 off the over nite low-it’s seems to have
left the 1600s in the dust…
Let’s see if THIS breakout gets stuffed…
Captain
Was it you or maybe Maddog who mentioned there was a physical delivery date today – April 20th?
Or am I thinking of something else?
Really can’t believe what we’re seeing in the oil markets.
Your tax dollars…
…are being put to work today folks.
No way is that VIX allowed to poke it’s head above the 50-day moving average.
If it does — it’s whack a mole time.
Chuckle
Maya
ALL the comments on that zerohedge link blasted the reddit posters as being fakes, and reddit for being ultra-liberal garbage.
russia and the saudis
this pissing contest is making the oil price stupid cheap!!!
Right here! Right now is the time to buy oil/energy if u haven’t any merchandise & if u have a one to two yr hold intention
whoa!! oil is down 7.12 at 11 bucks—this is an EXHAUSTION move —if anyone was waiting to buy the oil-energy sector they better start buying now—my cdev was 26 cents earlier now it’s 29 cents…smart money is buying this plunge
BRENT CRUDE IS 26.46–THAT is a 15 buck spread and historic
https://futures.tradingcharts.com/marketquotes/QA.html
Whats-his-face from Investors Intelligence said “as the price of a stock goes up I get less bullish–as it goes down I get less bearish”
I’m not talking any quick snap back but now is not the time to get uber-bearish on energy–that was 3 months ago
GPY.V Halted
C’mon Golden Predator, Baby needs a new pair a shoes!
Excellon and Otis Shareholders Overwhelmingly Approve Business Combination
https://finance.yahoo.com/news/excellon-otis-shareholders-overwhelmingly-approve-221500139.html
Roxgold Drill Program Continues to Return High Grade Intersections From the Séguéla Gold Project
https://finance.yahoo.com/news/roxgold-drill-program-continues-return-100000315.html
Mawson Intersects New High-Grade Zone 19.5 metres @ 7.1 g/t Gold, 1,006 ppm Cobalt Includes 7 metres @ 17.0 g/t Gold, 2,168 ppm Cobalt
https://finance.yahoo.com/news/mawson-intersects-high-grade-zone-100000475.html
Oil @ $12.12, down $6.15
Looks like the May contract?
Really is beyond belief –
Some of that money at least is going into gold up $8.60 on Kitco – spot
The great NFTRH gold report-this guy is good
HUI Daily Technical Status
HUI ticked a new high above the February high and that improved the odds of a new uptrend engaging regardless of whether or not the index pulls back from here. That was an impulsive reaction through former resistance surrounding 210 and even more importantly, above the 50 and 200 day moving averages.
We projected a potential A-B-C correction scenario (to the previous daily uptrend) back in early March and that appears to have played out, with ‘C’ the downside resolution. Now it is critical that any coming pullback do no worse than fill the gap (which would be a good, although not necessary thing because it is likely a breakaway gap that will have changed the trend), test support around 210 and ultimately hold the moving averages.
Interestingly, Huey never got strenuously overbought despite the big spike and so it is not a given that this leg of the rally is done. It has been testing minor short-term support at around 240 (not drawn on this chart). Should the 210 area unexpectedly fail, the next key support is around 180, which has longer-term implication (also not shown on this daily chart). That gap along with four others have already filled so there is no need from a gap standpoint to explore levels that low.
Bottom Line: Any decline to the 210 area could be a significant buying opportunity and if it is a successful test I believe that would be the signal to hold this sector for a longer run to higher prices.
Gold Stocks vs. Broad Stocks
Here we dial out to a weekly chart view of the HUI/SPX ratio. See something? See a trend change that began in 2018 with a series of higher highs and higher lows in play since then? This is a dangerous sector to be involved with if you don’t know why you’re involved. ‘Smart sounding people love gold stocks’ is not the right answer. The right answer is that we need the fundamentals and the relative trends to be in play… and they are.
GOT GOLD?–it now appears turmoil is about to be unleashed deep inside the $3.9 trillion muni bond market.
Muni Market Chaos Sparked By Covid Has Potential To Trigger Default Tsunami
1:49 am–No wonder gold is down only 70 cent & $13 off the low–May silver is up 13 and 22 cent off the low
“In short, the only thing that experts agree will avoid another crisis in the bond – and funding – markets is if the Fed effectively takes over the entire yield curve, ending capital markets as we know them,”
GOT GOLD?-WTI crude crashing-May crude is $14.50—down 3.60we foresee the Fed adopting front-end yield curve control (YCC) in late Q2 or Q3 that sets caps on Treasury yields out to about three years.
But…
While YCC may be a necessary policy response, it is not sufficient since it focuses on the front-end. In the US, medium- and long-term rates are more relevant for impacting financial conditions important to business and consumer economic decisions. If implemented, front-end YCC should be paired with more traditional QE that purchases securities across the curve and keeps long-end rates contained as well.
In short, the only thing that experts agree will avoid another crisis in the bond – and funding – markets is if the Fed effectively takes over the entire yield curve, ending capital markets as we know them, and launching “price discovery” by decree. While we have no doubt that the Fed will go the length, we can’t help but remember that such terminal central planning did not have a happy ending for the USSR.
https://www.zerohedge.com/markets/repo-guru-zoltan-pozsar-spots-next-market-land-mine