Kinesis money

Silver prices plummet as mints can’t keep up with demand With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! Precious metals have plunged in the markets, but there is still demand for physical coins in the midst of the coronavirus outbreak, this according to Phil Streible, chief market strategist of Blue Line Futures. “I can tell you one thing,…

Gold futures log largest weekly loss in more than 8 years Gold futures ended sharply lower for a fourth straight session on Friday, with a loss of more than 9% for the week—the largest since September 2011. Volatility-shocked investors looked for news on fiscal stimulus packages from governments around the world to help ease the economic pain of the COVID-19 epidemic that has ground some of the world’s business activity to a halt and rocked financial markets. “It seems that…

'Confused' Wall Street split on near-term gold-price direction Some might argue that gold prices have been unpredictable lately, thus maybe it seems fitting that Wall Street analysts are split on price direction for next week, based on the weekly Kitco Gold price survey. Main Street, however, remains bullish. Since coronavirus became a household word in 2020 as the illness spread around the world, equities have been mostly on the defensive on worries about the impact on the global economy. At…

Bloodbath = golden opportunity I have a simple but critical point to make today. The best time to buy gold stocks in my entire career so far was after the crash of 2008. This historic opportunity is repeating itself. Consider today’s mid-day decline in gold prices. We've seen this before… Gold gapped down on October 13, 2008, from $900.50 to $831.50. In that case, this happened just a few weeks before the bottom. For reasons I’ve written about before, I…

NBA suspends season after Jazz player tests positive for coronavirus The National Basketball Association (NBA) said on Wednesday it was suspending the season until further notice after a Utah Jazz player tested positive for the coronavirus. The test result was reported shortly before the Jazz were due to play the Oklahoma City Thunder at Chesapeake Energy Arena. The game was then scrapped. The league said the affected player, reportedly Jazz center Rudy Gobert, was not in the arena. “The NBA…

M&A is inevitable: Orefinder's Steve Stewart While the uptick in gold has benefited most of the producers, juniors still haven't seen their share of the gains, but Stephen Stewart, CEO and director of Orefinders, believes deal-making is inevitable. "The producers started seeing the cash flow to their bottom lines in Q3, and they've been performing well ever since. I think there will be incredible pressure to deploy that capital carefully," said Stewart. "The current narrative coming from the funds is…

Beginning All-Out Price War Saudi Arabia plans to boost oil output next month to well above 10 million barrels a day, as the kingdom responds aggressively to the collapse of its OPEC+ alliance with Russia.   The world’s largest oil exporter engaged in an all-out price war on Saturday by slashing pricing for its crude by the most in more than 30 years. State energy giant Saudi Aramco is offering unprecedented discounts in Asia, Europe and the U.S. to entice…

Volatile gold slides from 7-year peak as traders cover margins * Gold still on track for best week since Feb. 2016 * Global stocks, oil tumble; U.S. Treasury yields at record low * Platinum climbs over 3%; set for best week in seven – Gold prices swung more than 1% on Friday, sliding from a seven-year high as investors sold the precious metal to cover margin calls as the rapid spread of the coronavirus hammered equity markets. Spot gold was…

Gold Reclaims its safe-haven allure The last couple of weeks have contained extreme volatility in both the equities markets as well as the safe haven asset group. When U.S. equities began to selloff dynamically, we saw gold follow in tandem trading to lower pricing. It was not that gold lost its safe haven luster, rather it was mass liquidation of all assets as traders went either into cash or bonds. However many gold enthusiasts believed that at some point if…