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Archives by Year:
Record Highs For Gold And Gold Positioning
Image Source: UnsplashAs we do at the start of each week, in Monday’s Closer we recapped the latest positioning data from the CFTC’s Commitments of Traders report. In essence, this data highlights whether traders are in aggregate positioned long or short in various futures contracts. In the charts below, we show the historical net percentage of open interest net long […]
Gold Surges To New Record High On ‘Soft’ Data Slump; Stocks & Bonds Dump’N’Pump
Image Source: UnsplashDespite China’s ‘heroic’ measures to save its stock market, US (and European) equities were less than impressed…Source: Bloomberg…the yuan strengthened to 7.01/USD (strongest vs USD since May 2023)…Source: Bloomberg…and that sent the dollar index lower…Source: BloombergDomestically, bad news was bad news… consumer confidence crashed, home price appreciation slowed, and Richmond Fed manufacturing survey collapsed to COVID […]
Ex-Alameda CEO Caroline Ellison sentenced to two years in prison for FTX fraud role
Key Takeaways Ellison gets 2-year sentence for FTX fraud role, cooperation cited in leniency Judge Kaplan said SBF was Ellison’s ‘kryptonite’ Share this article Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison Tuesday by a Manhattan court for her role in the multibillion-dollar FTX crypto exchange fraud. Judge […]
Gold Hits All-Time High Above $2,650 As Consumer Confidence Deteriorates
Image Source: Pixabay Gold hits a new ATH of $2,664 amid declining US Consumer Confidence and weakening US Dollar, XAU/USD trades at $2,651. Fed Governor Michelle Bowman signals a cautious approach to rate cuts. Geopolitical tensions in the Middle East also fuel safe-haven demand for Gold, driving the precious metal to new heights. Gold prices hit […]
Tesla Approaches Key Resistance Levels Ahead Of Anticipated Robotaxi Event
Image Source: PexelsYesterday, TSLA sealed up its price gap after months of effort, and today the momentum continues as it approaches not one but four resistance objects: three of them being various Fibonacci retracement levels, all clustered tightly together, and the fourth being the descending trendline.I can only suppose that the Robotaxi event in a couple of weeks is the reason for the excitement. […]
US Dollar Soft After Consumer Confidence Figures, Eyes On Fed Speakers
Image Source: Pixabay DXY gave up some ground and fell to 100.60. Conference Board consumer confidence data for September missed expectations. Fed speakers are battling the current market’s dovish expectations. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, posted some losses on Tuesday after the release of […]
America At Risk
Image Source: PixabayA recent bipartisan report highlights escalating geopolitical tensions that pose serious threats to global stability, which may drive demand for gold and silver. The report, issued by a congressionally appointed commission, warns that the U.S. faces its most severe threats since 1945, including the potential for near-term conflict. It emphasizes growing tensions with China, […]
China Policy Moves In Context
Image Source: PixabayPBoC and financial regulators act, but even with fiscal measures underway, are unlikely to drastically change the path of the economy.As summarized by PBoC and financial regulators act: People’s Bank of China Governor Pan Gongsheng announced a cut in the reserve requirement ratio, seven-day policy rate and existing mortgage rates, in a bid to both […]
Boeing’s Labor Dispute Drags On As Stock Struggles
Image Source: UnsplashBoeing Co. (BA) faces mounting pressure as its largest union rejected the company’s “best and final” offer on Monday, prolonging a strike that has already lasted nearly two weeks. The labor dispute comes amid ongoing financial challenges for the aerospace giant, reflected in its underperforming stock price and negative earnings trajectory. IAM Rejects Boeing’s Latest […]
Bny Mellon’s crypto custody move could disrupt Coinbase’s ETF dominance
Key Takeaways BNY Mellon gains SEC exemption to expand digital asset services. BNY Mellon to bypass balance-sheet liabilities for crypto custody. Share this article BNY Mellon, is moving closer to offering custodial services for Bitcoin and Ether held by ETF clients, according to a report by Bloomberg. BNY Mellon’s entry into the crypto custody market […]
