Investors are dumping lower yielding assets like gold to buy higher volatility securities like Tesla shares and bitcoin, said Gareth Soloway, chief market strategist at In The Money Stocks, but Soloway is not selling his gold yet. Soloway’s comments come as Friday’s nonfarm payroll report showed a loss of 140,000 jobs in December, the most…
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When something goes straight up, it usually comes straight back down said Chris Vermeulen, chief market strategist at The Technical Traders, referring to bitcoin’s recent parabolic move upwards. Gold sees upside to the $2,400 an ounce level in 2021 but faces risks of a possible stock market correction that could drag the metal down. 0:00…
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Kevin O’Leary, chairman of O’Shares ETFs and star of Shark Tank, said that the digitization of America is here to stay, even if the economy opens up again. O’Leary has sold off his commercial real estate holdings to redeploy capital into the technology, healthcare, and consumer service sectors. On gold, O’Leary sees the metal as…
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In a move that is as totalitarian as it gets, Nasdaq has filed a proposal with the Securities and Exchange Commission that would empower it to force companies to have at least one woman on the board, along with at least another of “an underrepresented minority.” If the exchange is allowed to go forward with…
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The short-term momentum for gold is skewed to the downside, and Chris Vermeulen, chief market strategist said that a support level of $1,810 could be tested before the next ‘big move’ upwards begins. However, if prices continue to trend below $1,810 an ounce, gold could fall all the way to $1,600. 0:00 – Vaccine news…
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Gold price dropped $100, or 4.5% on Monday as Pfizer announced that its COVID-19 vaccine is 90% effective. The S&P 500 climbed 2.9%, the Dow is up 3.8%, and the NASDAQ is up only 1%, dragged down by companies that benefit from the work from home culture, like Zoom (-12%) and Netflix (-4%). Peter Hug,…
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