NW Business and Finance

We have a daily news feed on business, finance & gold, as well as in-depth articles by businesses based in the North West of the UK, on business & finance topics. We'd love to hear from you if you have a business based in the North-West, so please get in touch and we'll feature you!

October 20, 2014
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Personal Injury Firms in North West Face Tough Times

Nearly 20% of Personal Injury firms in the North-West of England face closure after new legislation came out preventing the use of ‘referral fees’ in England – a method commonly employed by smaller firms to obtain work. This new legislation has meant that a fifth of firms surveyed in the North-West have said they will consider closing their doors – leading to a potential job loss of 100,000 across the UK of solicitors who specialise in Personal and Accident Injury claims.

This news hasn’t had much of an impact in mainstream media, and you can probably guess why. Solicitors aren’t well liked, particularly those who work in personal injury cases, due to the amount of people who abuse the claims process, and the solicitors firms who constantly bombard our lives with adverts to try and entice people to claim. The trend of dishonest claims has been rising over the years, and a lot of people blame solicitors for encouraging that trend. However, this news could have impact in a substantial way, and affect how a lot of smaller firms do business, and mean that many stop altogether.

We need to rewind to 2013 to find out what happened here. You see, a lot of the big advertisers on TV actually act as ‘claim-farmers’. This means they aren’t the actually company who would take on your claim, they pass it over to a smaller, more local firm. The smaller firm pays a referral fee for the client, usually in the region of £700, and then take your claim forward with the client directly. However, last year the Ministry of Justice decided that this referral process had to stop, and the new legislation does just that. So now a Personal Injury firm will have to directly ‘recruit’ claimants, instead of paying the larger farmers for referrals. The prospect of increasing marketing budgets is too much for some smaller firms, and so they would rather close down their personal injury arm, and concentrate on other areas. Not only is this bad for employees, but also the consumer as well as the smaller, more local firms go out of business.

One method of getting around this ruling is to have the farmers bought by personal injury firms, thereby having them become a sub-division but in reality this will only go so far, and only bigger firms are likely to bother with the effort and expense of doing so. A recent article in The Guardian summarised the problems and justification by the Government for the new legislation as follows:

“The government’s justification for cutting lawyers’ fees by more than half is that solicitors will saving as much as £700 per case in referral fees. But lawyers complain that they will still have to pay marketing costs. Ominously, David Edmonds, the industry’s super-regulator, told MPs this week that the ban on referral fees might have unintended consequences. Edmonds, who chairs the Legal Services Board, has long argued that there is no evidence of consumer detriment from referral fees and so no justification for a ban.”

This impact is yet to be seen, but firms in the \North-West are already trying to assess and avoid the damage. We spoke to John Peterham, who owns a personal injury solicitors firm in Bolton, who said the “The trouble with this new ruling by the Government is that it can harm consumer choice. S-called ‘claim-farmers’ actually help the client by ensuring they are passed to a local and qualified solicitor. This can ensure quality by the farmer not working with a small firm who have a bad reputation. However this ruling would mean the emphasis is all on the client to do research into the firm first, and limit their choice potentially.” When asked how the ruling would affect his business, John went on to say “We aren’t 100% sure yet, but our firm (www.personalinjurysolicitorsboltonarea.co.uk) is a small claims-farmer. We expect that we can continue as we advertise that we work with other firms, but we may also have to consider taking on a small team of solicitors and doing the work ourselves. The ruling isn’t clear enough yet how it will affect our accident injury solicitors Bolton team”.

This lack of clarity isn’t helping the industry and needs to be cleared up quickly. One trainee solicitor who is stepping into the personal injury arena in Preston told us “I’m not even sure if my job is safe any more. We keep hearing about firms closing as they can’t be bothered with the extra expense of marketing. Personally, I wanted to work for a smaller firm so I can progress my career quicker and become a partner. Now it is looking increasingly like I may have to join one of the bigger players, where it can be difficult to establish yourself.”

It remains to be seen how much of an impact this ruling could have on jobs in the North-West, but it does appear the personal injury inductry is fearing it more than the media is reporting! We’ll keep covering this story as it develops.

 

September 10, 2014
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Tips on leadership from Alex Dale of National Academy of Excellence

We have a guest article here from Alex Dale of the National Academy of Excellence. Alex is giving our readers some free advice on leadership. Thanks Alex!

To start, you need to ask yourself: How do you see leadership, and exactly what do you think are the greatest qualities of a leader? It is always important to get a better viewpoint about how you can much better lead those around you. Keep checking out so that you can discover some helpful approaches that can make you a more reliable leader. Do not think your employees are going to have the ability to read your mind. Use accuracy in your communications and let individuals ask follow-up questions about projects. Likewise, an open door policy ensures staff members can likewise voice their concerns as well as request suggestions.

Ensure to engage individuals as a leader. You have to find out the best ways to inspire, involve, and delight others. Inspire them to engage their passions, strengths, abilities, and imagination in the jobs at hand. Do exactly what you can to acknowledge and appreciate each person’s contributions and efforts. You ought to make them all seem like they did something to move the task forward.

Walk the talk. Leaders do not say one thing and do another. That is confusing to employees, and demotivating in numerous methods. Rather live by exactly what you say. Follow through and lead by example. Then you’ll have more than staff members, you’ll have champs who believe in your company and your leadership too. Great leaders need to be sincere individuals. Do exactly what you can to tell the truth. Remain authentic. When you tell the truth, do so kindly. Be open about any mistakes that have taken place. Mistakes will occur, so you have to accept them. It is those mistakes that you can use to find a brand-new solution. They can supply you with nearly endless chances.

Being a fantastic leader is a lot more than dispensing orders. Among the most important parts of being a terrific leader is establishing a trust in between yourself and your group. If you desire your group to provide you the best work possible, treat them with the very same regard you require.

Stick with your objective. One means that leaders tend to fail is that they “switch sides” when things get tough. Attempt to stick with the objectives you have actually developed, and do what you can to stay on one path till conclusion. You could have to ultimately alter paths, but doing this thoroughly and avoid doing it too much. Constantly changes paths can make you appear confused and undetermined to others. Learn to hand over nonessential tasks to your staff members. Delegation permits you to concentrate on the important things that have to be done to make your business successful. Additionally, entrusting tasks to your staff members offers them a sense of pride and ownership in the company. Although it is tempting to attempt to do everything yourself, delegation is beneficial to your business.

To be an effective leader you need to understand your very own strengths and weak points. Delegate duties in locations that you are weak in to the members of your team that master them. You’ll offer your employee a possibility to shine, while ensuring that the job is carried out effectively.taking on an apprentice, how to take on an apprentice

Reward great work. It might be tempting to be a slave down line, but you ‘d be astonished exactly what a few gifts can do to assist productivity. These benefits do not have to be big. A bagel breakfast or gift certificates for a team work quite well. The gesture reveals that you care, and great leaders actually do.

Acknowledging skills in others signifies an excellent leader. It ought to be simple to pick who can benefit you and in exactly what means. This puts on working with and contracting people to do small tasks for you. Utilise a diverse set of workers to grow your business. Make sure you keep your staff training up to date, and work based learning is a great idea. Cultural, age and academic diversity will certainly offer you a wider variety of perspectives. Do not work with employees who resemble you. That would just restrict imagination. Discover individuals that complement each other’s skills and weaknesses.

This video has some great thoughts on leadership from a variety of Australian business leaders. Worth the watch even though it’s long, as it really adds to what this article says.

Thoughts on Leadership from Kearon de Clouet – Makinnoize on Vimeo.

The best leaders are undoubtedly ones who have a flair for working with the right people to work with them, putting together a group that is both cohesive and motivated. One bad apple ruins the entire bunch, as the saying goes. When putting together the winning group, an efficient leader has the ability to acknowledge the weak spot and eliminate it from the chain.

As a leader, you have to make certain you work with people who suit your company. Discover employees that complement your capabilities and the capabilities of your present staff. Taking on an apprentice is a great option to help bring in fresh, eager, low-cost talent, that will work with you for the long term. If you’re wondering how to take on an apprentice, then give NAoE a shout to assist. Make expectations clear from the beginning. Your goal is to have long-term staff members who can grow with your expanding company. Working with and training new staff members is expensive and time consuming. Constantly motivate staff members to contribute their thought and feelings and ideas. If you have actually done a great job of hiring great individuals, you have a lot of talent to pull from on your group. Benefit from this in order to enhance concepts, finish challenging projects and make your team better.

Failing as a leader is never a wanted location to be. You wish to do your best, and you want to recognize what is required of you in order to lead. This short article has actually provided you great tips concerning true leadership abilities. Prepare to use them in the real life now as you learn what leading people is everything about.

You must identify strengths and weaknesses. When you’re overconfident, you will certainly fail a lot easier. Focus on locations where you can boost your management skills. Even when things do not appear to be going very well, an excellent leader is able to learn the positive side of things. While there might be a lot of concerns that make something negative, he or she will constantly have the ability to find something good in every single circumstance.

Rehearse the habits and attitudes you wish to display as an efficient leader in your mind. Try to develop the most practical vision you can. When the time comes, focus on putting the habits you exercised into action. This method is typically utilized by athletes before a big competitors or race. Be a good example for your group. Similar to the mums and dads of a household, you are who your team looks up to in your company. Do not talk detrimentally about the business you work for or your employers to your team. It sets a horrible example and could return to haunt you.

Know that there is always even more to discover. Just since you are leading a group does not suggest you know everything there is to understand. Want to pick up from others, including the rest of your group. They will certainly appreciate the possibility to show their own skills, and you will find out brand-new things.

The world is constantly altering and a goo leader needs to be versatile adequate to handle that. You can not break down each time there is a modification in the method you understand the best ways to do things. There are opportunities to learn new things all the time, and you must make the most of this.

Maintain your enthusiasm for your work and keep your energy skyrocketing. When you love exactly what you do, it shows and others will certainly respect your management. Enthusiasm will certainly build momentum for your business. Being a strong leader requires a fantastic quantity of energy. Your energy will certainly infect your workers and keep your business progressing.

If you must provide criticism, do so constructively and in private. Every member of the personnel does not need to find out about every mistake that is made. Being singled out in a crowd in this way is awkward. On the other hand, provide compliments openly. This not only construct individual confidence, it lets others learn that hard work is appreciated and awarded.

Alex Dale is Director of Operations at the National Academy of Excellence. He says the NAoE “strive to provide the best possible range of education and job roles. Our primary aim is to match the apprentices with the employer that  will give them the best possible experience to go in hand with their qualifications. With the  vast range of courses we can deliver, we are able to place apprentices with employers who can ensure that the training they receive directly enhances the employability of the apprentices that are going through this scheme.”

April 4, 2014
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Business in Cheshire

Cheshire Flag

Cheshire acumen for business is more vibrant than would have been perceived. The county has stood up to be an economic driving force with the level of both internal and external commerce being more vibrant than its neighbours are.

The county is more competitive than its neighbouring counties that are of its stature. The western England county is noted to be among the counties that provide an environment with highest ease of doing business. The legislation’s and policies that relate to starting and operating a business are much friendlier in Cheshire making business in Cheshire easier. This has resulted in many start-ups such as this Cheshire SEO business.

Cheshire is known for its high agricultural productive levels. The county is host to England’s vibrant dairy farmers. The county supplies most of England’s population with their dairy needs. In a country where daily products are a regular consumption, Cheshire is considered to be home to real economic value of England. Dairy has made the county rich with the farmers expanding their business options beyond their traditional source of income and increasing their purchasing power.

Another major source of resource of the county is petroleum refining within Ellesmere Port on the Mersey River. This resource has become a significant economic driving force for the dwellers. The income generated from the oil refinery and the occupation vacancies availed have played important role in nurturing the economy into a consumer economy.

Cheshire has a strong domestic market that is fuelled by products that are exported to other parts of England. In addition, the direct exports have influenced the economic value of the county to become one that has a healthy consumer market.

The service industry is booming too, with internet business starting to take-off and thrive, such as this SEO Cheshire company, which helps other businesses in Cheshire to grow online.

A county that has a good consumer purchasing power capability allows business operating within the area a better operating ground. The county is good for business because the locals have the ability to spend from externally acquired resources. The gross domestic product of the county in isolation is among the highest there is.

The county leadership is also a factor that has improved doing business within. The leadership has embarked in investment in infrastructure in a way that other companies have invested within the county. With external investment, the easy of doing business in the context of the existence of a market, easy of communication, existing and healthy financial sector and a customer oriented economic growth.

Awards Event in Cheshire

The leadership of the county has invested in infrastructure. Good infrastructure is among some the best factors that improve trade. Hurdles that you would face when anticipating to start a business have been reduced, and a home-based business doing, for example, SEO Cheshire can thrive.

July 2, 2016
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The prospects for money + MORE

The prospects for money

– .goldmoney.com

In my view, this new bout of turmoil in financial markets is the prelude to the final demise of government currency.
If I’m right, a long-expected collapse in the purchasing power, and of the very concept of fiat currency, will evolve from current events. The purpose of this article is to explain why monetary theory predicts a currency collapse…

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This week, we have seen an increase in client activity as the number of orders received increased after the Brexit referendum.
Clients have been seen net selling gold and silver in order to take advantage of the profits from the extraordinary price increase post-Brexit. On the other hand, some clients have been buying into gold possibly as a safe haven or speculating that the price may continue to increase…

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June 28, 2016
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Silver Weekly Technical Outlook + MORE

Gold’s rally continued last week and briefly touched mentioned target of 61.8% projection of 1045.4 to 1306.0 from 1199.0 at 1360.1. As it’s now close to long term fibonacci level at 1380.98, we’ll be cautious on topping at current level. Break of 1252.8 support will be the first sign of trend reversal and will turn focus back to 1199…

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Crude oil stayed in range of 45.83/51.67 last week and outlook is unchanged. A short term top should be in place on bearish divergence condition in 4 hours MACD. Deeper fall is still in favor and break of 45.83 will target 38.2 retracement of 26.05 to 51.67 at 41.88, which is close to 41.90 resistance turned support…

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Silver’s break of 18.06 resistance last week suggests that medium term rise from 13.62 is resuming. Initial bias will be on the upside this week. Current rally would target 100% projection of 14.785 to 18.06 from 15.83 at 19.10 next. On the downside, break of 17.105 support is needed to indicate short term topping…

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Goldmoney Presents International Banking & the Future of Money
Money is the bedrock on which functioning economies stand. Stable, reliable currency – serving as both a store of value and providing a liquid medium enabling transactions and commerce – is essential for growing and prospering economies…

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Natural gas edged higher last week but lost momentum ahead of 161.8% projection of 1.611 to 2.195 from 1.909 at 2.854. Further rise could still be seen. But considering bearish divergence condition in 4 hours MACD, upside should be limited by 2.854 and bring correction. Below 2.535 support will indciate short term topping and bring bring pull back…

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June 25, 2016
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Inventory Decline Triggered Rebound in Crude Oil Prices + MORE

Crude oil reversed losses after US market closed as API data showed that US inventory fell more than expected. Both benchmark contracts hovered above US$50/bbl in Asia Wednesday. Market sentiment today, as well as in the US session Tuesday, was relatively upbeat as more EU referendum polls showed that support for the “remain” camp outweighed that for the “leave” camp…

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What the leave vote means for gold going forward
Introduction
In the Referendum of the United Kingdom’s membership of the European Union, 52% voted for leave, causing shockwaves through financial markets and a rally in gold. Using our gold price framework, we look at the impact on the price drivers for gold going forward…

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This week, clients have been net selling gold and silver whilst net buying platinum and palladium.
Clients have been speculating on the market conditions ahead of the Brexit referendum. There has been increase in client buying activity this afternoon especially as we draw closer to the releasing of the results…

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The collective decision of the British electorate is to reject the recommendation of its government, excepting those of its few dissenting ministers, that Britain should remain in Europe.
It is a signal failure of government policy. Above all, it is a failure that undermines the state’s control over ordinary people…

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Goldmoney Presents The Keisers Live on Stage
Max Keiser and Stacy Herbert, hosts of the Keiser Report, joined Goldmoney CEO Roy Sebag and chief strategy officer Josh Crumb for a lively discussion about gold ownership, banking, Bitcoin, and monetary choice. Recorded live at the Isabel Bader Theatre in Toronto, Canada…

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Investors were cautious ahead of the EU referendum on June 23. Wall Street slipped with DJIA and S&P 500 indices losing -0.27% and -0.17% respectively. European shares remained firmed with the Stoxx600 index rising for a 4th straight day, up +0.38%, while UK’s FTSE adding +0.56%. Markets in Asia Pacific were mixed…

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Brexit Materializes…

– oilngold.com

With 99% of votes counted, it is almost certain that Britain decides to leave EU. Financial markets slumped as uncertainty after Brexit dampened sentiment. British pound got dumped with GBPUSD plunging -10% and EURGBP jumping +7.49% at the time of writing this article. EURUSD also fell -3.21%.

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Vancouver, BC, Canada –June 23, 2016 — Miranda Gold Corp. (‘Miranda’) (TSX-V: MAD) has closed a non-brokered private placement with aggregate gross proceeds of $2,622,650 from the sale of 29,140,555 units at a price of $0.09 per unit (a ‘Unit’). Each Unit comprised one common share and one non-transferable common share purchase warrant (a ‘Warrant’)…

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June 21, 2016
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Bremain or Brexit? + MORE

Similar to others in the financial market, movement of energy prices over the past week was driven by Brexit concerns. Both the front-month WTI and Brent crude contracts weakened most of the time last week as polls showed that supports for “leaving” EU was leading. Things began to reverse as pro-EU British MP Jo Cox was shot to death…

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Silver lost momentum ahead of 18.05 resistance and weakened. Initial bias is neutral this week. Overall, price actions from 18.05 are viewed as a consolidation pattern and could extend with another further. Hence, in case of another rise, we’d be cautious on strong resistance from 18.05 to limit upside…

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Gold’s break of 1306.0 resistance last week argues that the rally from 1045.4 has resumed. Further rise would now be seen to 61.8% projection of 1045.4 to 1306.0 from 1199.0 at 1360.1 next. On the downside, however, break of 1267.3 will dampen this bullish view and turn focus back to 1199.0 support instead…

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Bremain or Brexit?

– oilngold.com

Markets show a bit more risk on mode on Monday as concerns over the UK leaving the EU eased slightly. Undoubtedly, the focus of the week is the Brexit referendum to be held on June 23. The latest polling results suggest that support for the “leave” camp diminished after the death of the pro-EU PM Jo Cox…

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British pound extended rally against US dollar and the euro Monday, as ORB’s EU referendum poll showed 53% support on “remain” and 46% support on “leave”. Polls of polls by both Financial Times and whatukthinks.org revealed a neck-and-neck race. Investors were less nervous than last week when major polls showed that the “leave” camp was leading…

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June 17, 2016
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Murder of Pro-EU Lawmaker Heightened Uncertainty in Brexit Referendum + MORE

Vancouver, BC, Canada — June 15, 2016 — Miranda Gold Corp. (‘Miranda’) (TSX-V: MAD) is pleased to announce that further to its news release of June 3, 2016, and due to significant demand, it has increased the size of its previously announced non-brokered private placement from $1,500,000 to $2,594,650 through the issuance of 28,829,444 units at a price of $0…

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Brexit is getting the blame

– .goldmoney.com

Brexit is not the most important problem facing markets, it is mounting problems in the European banks.
But before looking at that systemic issue, I will summarise the Brexit position, from the trenches, in the last few days before the referendum.
In the run-up to Britain’s referendum on 23rd June, the Treasury was tasked with modelling the economy, post Brexit…

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Brexit concerns continue to take the centre stage and dampen market sentiment. GBPUSD fell more than -1% as more polls revealed that the “leave” camp is leading the “remain”. The pound also softened against the euro for 3 days in a row, accumulating loss of about -1.5%. European equities got hammered with UK’s FTSE 100 index plunging -2…

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Murder of pro-EU British MP Jo Cox has further intensified uncertainty of the Brexit referendum on June 23. Campaigns of both the “leave” and “remain” camps have been suspended while the IMF has also postponed the release of its assessment of economic outlook after Britain leaving the EU. BOE Governor Mark Carney, scheduled to attend an event at Mansion House today…

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The June FOMC meeting turned out to be more dovish than expected. Besides Kansas City Fed president Esther George joining the camp to vote for keeping the policy rate unchanged, the latest dot plot suggests that more members expect only one rate hike this year, although the median remains two. Meanwhile, interest rate expectations for 2017, 2018 and the longer-term were revised lower…

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Precious metals had a strong performance this week, so much so that yesterday gold soared through the $1308 level, long regarded as the technical point which confirms, once breached, that the bear market is over.
Having closed at $1276 last Friday, yesterday gold traded as high as $1314, and silver at $17…

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This week, clients have been net selling gold, silver, and platinum.
Clients have been speculating on the market conditions with the FOMC statement being released on Wednesday and ahead of the Brexit referendum. Clients have been taking advantage of the higher pricing, particularly on Thursday when the price soared above USD1,300/oz, which was last briefly seen at the beginning of May 2016…

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Blueprint for a bright British future post-Brexit

Introduction
As polls are beginning to show a growing lead for the ‘Leave’ campaign in the upcoming Brexit referendum, investors need to consider the potential implications of a ‘Leave’ vote for the British and EU economies, sterling and euro currencies and financial markets generally, as there could be potentially broader spill-over or contagion effects…

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June 14, 2016
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Gold Weekly Technical Outlook + MORE

Risk-off sentiment in Europe and US last Friday is carried forward to Monday. Worries over UK leaving the EU intensified as latest polling results showed that the “leave” camp leads by at least 10 points. Together with soft macroeconomic data from China released earlier today, shares in Asia slumped with benchmark indices losing more than -2…

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Investors remain cautious on Tuesday although losses appeared to have tamed in European and US sessions. Crude oil prices fell for a third consecutive day on the broad-based risk aversion as Chinese data disappointed and Brexit referendum approaches. OPEC in its latest monthly report left the global oil demand outlook unchanged and reiterated that oil market would reach balance by the end of this year…

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In May, China’s trade surplus widened to US$49.98B from US$45.46B a month ago. On a 12-month rolling basis, the figure narrowed to US$602B. Exports contracted -4.1% y/y, worsening from -1.8% in April, whist imports declined -0.4%, moderating from April’s -10.9%. Looking at exports, shipments to almost all destinations dropped from a year ago dropped from a year ago…

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Silver’s rebound from 15.83 continued last week. Strong break of 16.58 resistance confirmed near term reversal and further rise could be seen to retest 18.08 high. At this point, price actions from 18.05 are viewed as a consolidation pattern and could extend with another fall. In case of another decline, down side should be contained by 61…

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Gold’s rebound form 1199.0 continued last week and further rise should still be seen towards 1306.0. Price actions from 1306.0 are expected to develop into a sideway pattern. Thus, strong resistance should be seen there to bring near term reversal. Below 1251.3 support will turn bias to the downside for 1199…

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June 10, 2016
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Dealing Desk: Metals Advance on Weak US Data + MORE

Led by the energy sector, Wall Street moved higher with the S&P 500 index returning to the highest level in 7 months and up +0.49% at close. The DJIA index also gained +0.64%. Market sentiment turned more upbeat although Fed Chair Janet Yellen noted the employment report in May was disappointing…

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Decline in US inventory and a weak US dollar explain why energy prices hold onto gains. The front-month WTI crude contract rose to a new 2016 high of 51.62 before settling at 51.23, up +1.73%, while the Brent contract closed at 52.51, soaring +2.08%. Risk appetite was lifted as the market widely expect no rate hike at the June FOMC meeting…

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The British have recently seen two unpleasant examples of the cost of pension fund deficits.
A deficit at British Steel, estimated to be about £485m, was followed by a deficit at British Home Stores of £571m. In both cases, pension fund deficits have scuppered corporate rescue plans, because understandably no buyer will take on these liabilities…

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Market Report: Sharp recovery

– .goldmoney.com

Gold and silver enjoyed a strong recovery in the wake of an atrocious jobs report last Friday.
Gold and silver prices were given further upside momentum when Janet Yellen, speaking at the World Affairs Council in Philadelphia on Monday, consequently took a softer line on interest rate rises. Gold, which had bottomed at $1200 on Wednesday last week, took off like a scalded rabbit on last Friday’s jobs release, gaining $22 in seven minutes…

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This week, clients have continued to net buy silver and platinum, whilst net selling gold and palladium.
Clients have been taking advantage of the lower pricing of silver and platinum. Silver had experienced lows of USD15.97/oz but, throughout the week, has steadily gained to soar above USD17.00/oz.
GoldMoney’s clients have favoured the Malca-Amit Singapore and Switzerland vaults this week with less preference being shown for the London and Hong Kong vaults…

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Both crude oil benchmarks are now trading above US$50/bbl, thanks to abrupt supply disruption. The front-month WTI crude oil climbed to a new 2016-high of 50.53 before ending the day at 50.36, up +1.35%, while the Brent contract rose to as high as 51.54 before settling at 51.44, up +1.76%. Fuel prices were mixed with heating oil gaining +2…

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US dollar recovered after declining for 4 consecutive days. USD index (DXY) remains firm on Friday after the gaining +0.38% on the prior day. EURUSD fell -0.68% and was back below 1.14. The fall was comparatively large as ECB President Mario Draghi warned that the Eurozone is at risk of lasting economy damage…

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June 6, 2016
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Gold Weekly Technical Outlook + MORE

Gold and silver prices started the week at a low point, with gold touching $1200.
Round numbers such as this can take on an importance for traders. Silver found support at $15.90 before rallying, but on Wednesday, dipped below this level briefly, trading as low as $15.84. So the post-Monday rally in gold was not confirmed by silver, making the consolidation over the week just that, it being too early to say the May sell-off is over…

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Hopes of a Fed funds rate hike in summer diminished markedly following the soft US employment report. Bets for a June rate hike plunged to around 4% on Friday, down from 30% a week ago, while those for a July hike fell to 41%, from above 50% last week. Treasury yields plunged shortly after the report…

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Crude oil continued to lose upside momentum last week as seen in bearish divergence condition in 4 hours and daily MACD. At this point, there is no confirmation of topping yet and further rise could be seen. But upside would likely be limited by 100% projection of 26.05 to 41.90 from 35.24 at 51.09 to bring a pull back at least…

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, BC, Canada –June 3, 2016 — Miranda Gold Corp. (‘Miranda’) (TSX-V: MAD) is pleased to announce that it proposes to raise up to $1,500,000 by way of a non-brokered private placement through the issuance of up to 16,666,667 units at a price of $0…

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Silver dropped to 15.83 last week but lost much momentum after hitting 50% retracement of 13.62 to 18.05 at 15.38. Bullish convergence is also seen in 4 hours MACD and rebound should be due. Break of 16.58 resistance will confirm near term bottoming and turn bias back to the upside for 18.05 high.

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Natural gas’s rise from 1.611 resumed last week and surged to as high as 2.454. The strong upside momentum argues that medium term trend is reversing. Initial focus in on 2.495 key resistance this week. Sustained break there will pave the way to 161.8% projection of 1.611 to 2.195 from 1.909 at 2.854 next…

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Gold drew strong support from 55 weeks EMA and 38.2% retracement of 1045.4 to 1306.0 and rebounded last week. Further rise would likely be seen initially this week but we’d expect upside to be limited by 1306.0 resistance and bring another fall. Below 1199.0 will target 61.8% retracement of 1045.4 to 1306…

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This week, clients have continued to net buy silver and platinum, whilst net selling gold and palladium.
Clients have been taking advantage of the lower pricing on precious metals, particularly silver and platinum. Silver is struggling to stay above the psychological level of $16.00/oz and platinum has retreated back below $1,000…

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June 3, 2016
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Crude Retreated after Failing to Hold above US$50/bbl; China PMI Suggests Recovery Unsustainable + MORE

Gold weakened during May by about $100, from a high point of $1300 to a low of $1200.
This, for technical analysts, is entirely within the normal correction zone of a third to two-thirds of the previous rise, which would be 84 to 167 points.So the fall is technically reasonable, and doesn’t in itself signify any underlying challenge to the merits of a long position in gold…

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Despite initial retreat, crude oil prices reversed early losses and ended the day higher. The front-month Brent crude oil contract, up +0.64%, settled above US$50/bbl for the first time since November. The WTI contract also added +0.33% for the day. Gasoline and headline oil prices also gained +1.2% and +0…

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Failure to sustainably hold above US$50/bbl, both crude benchmarks ended the day lower. The front-month WTI contract initially rose to 50.1 before settling at 49.1, down -0.47% while the Brent contract climbed higher to 50.05 earlier in the day before ending the day at 49.69, down -0.14%. Prices continued to grind lower in Asian Wednesday…

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Wall Street recovered from early losses and ended the day largely flat, driven by better-than-expected US ISM manufacturing index. However, US dollar retreated, especially against antipodean currencies. AUDUSD and NZDUSD rose +0.86% and +0.4% respectively on encouraging macroeconomic data. Australian GDD expanded +1…

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Shares in Asia are boosted by speculations that tax rate hike in Japan might be delayed by 2 years. Adding to a +1.3% gain on Monday, the Nikkei 225 index strengthened further to a 5-week high of 1 7152, up +0.5%, at the time of writing this report. Yet, the sentiment might cool down as Abe is going to hold a press conference on June 1 to clarify the issue…

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May 30, 2016
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Market Report: PMs consolidating further + MORE

Gold and silver drifted lower this week, dollar prices falling approximately 2.5% and 1.5% respectively.
It is a continuation of the previous week’s trend, which saw larger falls. To date, from 1st January the dollar price of gold this morning in early European trade is up 15.14%, and silver 17.7%…

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No change in Natural gas’s outlook. It continued to struggle to stay above 61.8% retracement of 2.495 to 1.611 at 2.157. As the choppy rebound from 1.611 is seen as a correction, we’ll stay cautious on topping and reversal around 2.157. Break of 1.8872 support will now indicate near term reversal and turn outlook bearish for retest on 1…

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Gold’s sharp fall from 1306.6 suggests that rebound from 1045.4 is completed and could have set the medium term range between 1045.4/1306. Firm break of 38.2% retracement of 1045.4 to 1306.0 at 1206.5 will confirm this case and would bring deeper fall through 61.8% retracement at 1144.9 before a sustainable rebound…

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Crude oil’s rally continued last week and 61.8% retracement of 62.58 to 26.05 at 48.63 is taken out. There is no sign of topping despite lost of upside momentum. Current rise would now target 100% projection of 26.05 to 41.90 from 35.24 at 51.09. Though, considering bearish divergence conditio in 4 hours MACD, break of 46…

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Hawkish comments by Fed Chair Janet Yellen last Friday intensified speculations of a rate hike in summer. Speaking in Harvard University, Yellen suggested that “it’s appropriate, and I’ve said this in the past, for the Fed to gradually and cautiously increase our overnight interest rate over time… Probably in the coming months such a move would be appropriate”…

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Silver’s pull back from 18.08 extended lower last week but it started to lose momentum after hitting 55 days EMA, 38.2% retracement of 13.62 to 18.06 and 16.17 resistance turned support. A rebound is likely due and break of 16.58 resistance will turn focus back to 18.08 high. However, downside acceleration form the current point will carry larger bearish implication and target 61…

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May 27, 2016
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Market on Risk-Off Tone as Data Show Slowing Manufacturing Activities + MORE

Bigger-than-expected decline in US oil inventory lifted sentiment, sending energy prices and equities higher. The front-month WTI crude contract extended strength to a new 2016-high of 49.75 before ending the day at 49.56, up +1.93% while the Brent contract rose to as high as 49.96 before setline at 49…

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Market sentiment began with week with a softer tone, as manufacturing PMI in both the US and Eurozone surprised to the downside. Wall Street ended the day lower with DJIA and S&P 500 indices slipping -0.05% and -0.21% respectively. Europe’s Stoxx 600 index dropped -0.39%. US dollar dropped with the DXY index losing -0…

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Regulations are nearly always introduced with the best intentions.
In financial services, they aim to stop unscrupulous brokers and banks from ripping off the public through bad practices. Manufacturers are banned from making products which are dangerous to children, the environment, or which might fail through shoddy workmanship…

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This week, clients have continued to net buy silver and platinum, whilst net selling gold and palladium.
Clients have been seen taking advantage of the lower pricing on precious metals as silver still remains below $16.50/oz.
GoldMoney’s clients have favoured the Singapore and Swiss vaults this week, with less preference being shown for the London vault…

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Flash manufacturing PMI from the Eurozone sent a mixed signal of the region’s economic growth. Headline reading for the bloc as a whole slipped -0.2 point to 51.5 in May. The market had anticipated improvement to 51.9. The PMI Composite Output Index dropped -0.1 point to 52.9, the lowest level in 16 months…

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US dollar firmed on intensifying speculations of Fed funds rate high in June. The DXY index rose to an 8-week high of 95.66 before ending the day at 95.57, up +0.36%. The greenback strengthened against major currencies with exception of British pound which rallied after a poll showed that support for the UK to remain in the EU is well above to leave…

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May 23, 2016
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Market Report: Interest rate scare + MORE

Commodities generally weakened, led by metals amidst rising US dollar and concerns over moderation of the global growth outlook as the Fed hikes interest rates in summer. Metal Bulletin’s iron ore index plunged almost -6% to close at US$53.47/tone, the lowest level since March 15. Besides, US rate hike speculations, iron ore prices were dampened by rising supply…

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Gold and silver had a down week, correcting some of their overbought condition.
Gold fell from Monday’s peak of $1288 to a low point yesterday (Thursday) of $1245, and silver from $17.40 to $16.35. Both metals rallied into Thursday’s close, and in early European trade this morning (Friday) gold was $1254 and silver $16…

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May 19, 2016
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The non-linearity of inflation psychology and the present danger of stagflation + MORE

Wall Street firmed led by strong energy prices. Bigger than expected output disruption in Nigeria and positive views from Goldman Sachs have helped lift oil prices to 6-month highs. The front-month WTI crude contract initially soared to US$47.98, the highest level since November, before settling at US$47…

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The FOMC minutes for the April meeting unveiled that policymakers were more hawkish than previously. They judged that it might be justified to increase interest rates in June if economic data suggest growth were picking up in 2Q16, job market continued to improve and inflation were making progress to reach the +2% target…

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Shares in Asia climb higher on Monday although macroeconomic data released in China over the weekend were generally disappointing. China’s CSI 300 opened lower but then recovered to be gaining slightly at the time of writing this report. This follows a -1.75% decline 3034.9 last week. Equities elsewhere firm, probably carrying forward the bullish tone after strong US data last Friday…

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World-wide, markets are horribly distorted, which spells danger not only to investors, but to businesses and their employees as well, because it is impossible to allocate capital efficiently in this financial environment.
With markets everywhere disrupted by interventions from central banks, governments, and their sovereign wealth funds, economic progress is being badly hampered, and therefore so is the ability of anyone to earn the profits required to pay down the highs levels of debt we see today…

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Speculations of Fed funds rate hike in June rekindled, driven by better-than-expected US data and Fed presidents’ comments. Wall Street reversed earlier gains as pressured by consumer staples and utility, with DJIA and S&P 500 losing -1.02% and 0.94% respectively. US dollar weakened a tad against commodity currencies but is recovering ground in Asian morning on Wednesday…

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The non-linearity of inflation psychology and the present danger of stagflation
Introduction
Ever since the 2008-09 global financial crisis there has been a lively debate between those anticipating a prolonged deflation and those predicting a transition to inflation. In certain respects, both sides of the debate have been correct, if sometimes confusing monetary, credit and price inflation…

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This week, clients have been net buying in silver and palladium, whilst net selling gold and platinum.
Clients have been speculating the market and have been taking advantage of the price reduction as silver dipped below the psychological level of $17.00/oz
GoldMoney’s clients have favoured the Singapore, Canadian, and London vaults this week with less preference being shown for the Swiss vaults…

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May 16, 2016
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Dealing Desk: May you hold the cup? + MORE

Crude oil’s rally continued last week and outlook is unchanged. Current rise is expected to extend to 61.8% retracement of 62.58 to 26.05 at 48.63 next. Nonetheless, break of 43.03 support will indicate short term topping and bring deeper pull back, to 55 days EMA (now at 40.28).

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Near term outlook in gold remains bullish with 1228.5 support intact. Current rise from 1045.4 is expected to target 61.8% projection of 1045.4 to 1287.8 from 1228.5 at 1378.3 next. We’ll look for topping signal around there. Nonetheless, break of 1228.5 will suggest that the current rally ended earlier than we expect and would turn outlook bearish…

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The Endgame

– .goldmoney.com

And how we got here
There is a growing fear in financial and monetary circles that there is something deeply wrong with the global economy. Publicly, officials and practitioners alike have become confused by policy failures, and privately, occasionally even downright pessimistic, at a loss to see a statist solution…

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This week, clients have been net buying gold whilst net selling silver, platinum, and palladium.
GoldMoney’s clients have favoured Hong Kong and Singapore vaults this week with less preference being shown for the London and Swiss vaults. This is fairly typical with gold as, when the price retreats, our Asian-based clients tend to take advantage of a price discount to accumulate more metal…

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Yesterday, the World Gold Council released its estimate of gold demand for the first quarter of 2016, which compared with supply estimated at 1,081 tonnes.
While the WGC collects its figures assiduously, the demand figures are only those that are known from trade associations, central banks, and ETFs…

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Supply disruption, forecast upgrade and inventory decline helped resume the rally in energy prices. Although failing to breach above US$60/bbl, the front-month Brent crude contract rose to as high as 48.19, just shy of 2016’s high of 48.5, and gained +5.42% last week. The WTI crude contract made a fresh year-high of 47…

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No change in Natural gas’s outlook. It continued to struggle to stay above 61.8% retracement of 2.495 to 1.611 at 2.157. As the choppy rebound from 1.611 is seen as a correction, we’ll stay cautious on topping and reversal around 2.157. Break of 1.950 support will now indicate near term reversal and turn outlook bearish for retest on 1…

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In Part 2 of the GoldMoney® roundtable recorded in Toronto, our panel discusses the history of other items of value—such as salt—and how they fare compared to gold over time. The history and evolution of the banking system is also explored in depth in this lively chat. Participating in the discussion, from left to right: Alasdair Macleod, Roy Sebag, James Turk, Josh Crumb, and Stefan Wieler…

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With 16.83 support intact, near term outlook in Silver remains bullish. . Current rally from 13.62 would target 161.8% projection of 13.62 to 16.17 from 14.785 at 18.91 next. Though, break of 16.835 will indicate short term topping and bring deeper pull back, possibly to 16.17 resistance turned support…

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May 12, 2016
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Surprising Decline in US Inventory Sent Crude Higher, Equities Dropped on Retail Concerns + MORE

Energy and industrial metal prices slumped as China’s exports and imports disappointed in April. More importantly, market participants believed that the government would not add easing measures as aggressive as previously. Both crude benchmarks declined with the front-month WTI contract losing -2.73% and the Brent contract down -3…

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Commodity prices remained firm, led by crude oil prices on the surprising inventory decline. The front-month WTI contract rallied to a 2-week high of 46.36 before ending the day at 46.23, up +3.52%. The Brent crude initially soared to as high as 47.75 before settling at 47.6, up +4.57%. However, equities weakened as corporate news weighed on the consumer discretionary sector…

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In line with what was expected in the ADP report, US’ payrolls growth surprised to the downside in April. Headline non-farm payrolls increased +160K last month, down from consensus of +206K and the downwardly revised +208K in March. Note also that the strong gain of +245K in February was also revised lower to +215K…

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Supported by weakness in Japanese yen, the Nikkei 225 index rose more than +1.5% shortly after market opens. This should also lead other equities to strengthen in Asian Wednesday. Sentiment firmed in the US as crude oil rebounded following news of supply disruption in Nigeria and Libya. Wall Street soared …

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May 8, 2016
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Crude Oil Weekly Technical Outlook + MORE

On Monday, gold rallied to test the $1300 level, and silver $18.00.
Given the sharpness of the move up in the last week of April, it was hardly surprising that some consolidation was in order. Underlying this performance was the recent weakness of the dollar, which had a mini-bounce aided by a weaker yen, the yen having been rising strongly against the dollar this year so far…

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Crude oil had a highly volatile day with both benchmarks jumped following news that wild fire was disrupting production in Canada. The front-month WTI contract initially dropped to 43.96 on the buildup of US inventory. Price then reversed and ended the day at 44.32, up +1.23%. in a similar vein, the Brent contract initially fell to as low as 44…

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Gold retreated mildly last week but drew support from 4 hours 55 EMA and bounded. Near term outlook remains bullish with 1228.5 support intact. Current rise from 1045.4 is expected to target 61.8% projection of 1045.4 to 1287.8 from 1228.5 at 1378.3 next. We’ll look for topping signal around there.

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T-TIP: Salvation or trash-tip?

– .goldmoney.com

President Obama weighed into the Brexit debate on his recent visit to the UK, saying that if Britain left the EU, she would be at the back of the queue when it comes to a free trade agreement.
If this was intended to scare voters into voting Remain, the tactic seems to have failed, with the subsequent swing in the polls favouring Brexit…

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Crude oil continued to lose upside momentum last week as it turned sideway. But it’s held above 42.50 support so far and outlook remains bullish. Further rise is still in favor to 61.8% retracement of 62.58 to 26.05 at 48.63 next. Nonetheless, break of 42.50 support will indicate short term topping and bring deeper pull back, to 55 days EMA (now at 39…

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Natural struggled to extend gain above 61.8% retracement of 2.495 to 1.611 at 2.157 last week. As the choppy rebound from 1.611 is seen as a correction, we’ll stay cautious on topping and reversal around 2.157. Break of 1.950 support will now indicate near term reversal and turn outlook bearish for retest on 1…

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This week, clients have been net selling gold whilst net buying silver, platinum, and palladium. The spot gold and silver highs experienced on Monday may have sparked more selling activity from our clients as they took advantage of the higher pricing.
GoldMoney’s clients have favoured the Canadian and Singapore vaults this week with less preference being shown for the London, Swiss, and Hong Kong vaults…

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Silver turned into sideway consolidation last week but stayed above 16.835 support. Near term outlook remains bullish. Current rally from 13.62 would target 161.8% projection of 13.62 to 16.17 from 14.785 at 18.91 next. Though, break of 16.835 will indicate short term topping and bring deeper pull back, possibly to 16…

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May 5, 2016
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Brent Crude Plunged -4% as OPEC Output Soared in April + MORE

Market sentiment improved modestly although trading volume in most of Europe was light due to holiday. Wall Street gained with DJIA and S&P 500 indices adding +0.66% and +0.78% respectively. In Asia today, Chinese equities soared despite weak manufacturing data. The CSI 300 index has risen to a 2-week high of 3206, up almost +1…

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GoldMoney® Founder James Turk, CEO Roy Sebag, CSO Josh Crumb, Head of Research Alasdair Macleod, and Vice President of GoldMoney® Insights Stefan Wieler sat down for a round-table discussion to discuss the history and importance of Gold. 
Gold Bullion is the world’s oldest asset class and the century’s best performing currency…

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Crude oil prices mixed after US inventory rose more than expected last week. Although the front-month WTI contract initially slipped further to as low as 43.22, it recovered and ended the day modestly higher at 43.78, up +0.3%. The Brent contract, however, fell for 4 days in a row, slipping -0.78% to 44…

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Japanese yen’s strength that had damped risk appetite late week continues to haunt Asian markets on Monday. Although some markets (e.g. Hong Kong, China) are closed on Labor Day holiday today, Japanese shares extend last week’s slump. At the time of writing this report, the Nikkei 225 index is trading at a 3-week low of 16 062, down -3…

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Market sentiment softened a tad as Chinese PMI data surprised to the downside while UK’s PMI unexpectedly shows manufacturing activities slipped to contraction in April. In the commodity sector, oil prices fell amidst concerns of weaker demand as global growth moderates.

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Something’s got to give in the oil market

Introduction
Crude oil time-spreads have completely dislocated from inventories. Historically, such dislocations have proved to be short lived. We expect that either spot prices will sell-off again or the back end of the curve will move sharply higher. As per our proprietary gold pricing model, the latter would be very supportive for gold prices…

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May 1, 2016
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Silver Weekly Technical Outlook + MORE

This week, clients have been net buying gold, silver, and palladium.
Wednesday’s FOMC release seemed to spark more buying acitivity from our clients as they took advantage of the lower pricing in advance of the FOMC statement. Clients have also been net selling their platinum positions to take advantage of the current platinum price which has risen to over USD1,030/oz this week…

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Commodities rose across the board last week as US dollar plunged against major currencies. The USD index tumbled to as low as 93, a level not seen since August 15, last Friday. The Fed kept its powder dry in April and the conviction of a rate hike in June has not strengthened after the meeting.

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Natural gas’ choppy rebound from 1.611 continued last week and took out 61.8% retracement of 2.495 to 1.611 at 2.157. We’d now stay cautious on further loss of upside momentum and topping. Break of 1.950 support will now indicate near term reversal and turn outlook bearish for retest on 1.611 low.

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Silver’s rally continued last week and near term outlook stays bullish for 18.50 resistance. Break will target 161.8% projection of 13.62 to 16.17 from 14.785 at 18.91 next. On the downside, break of 16.835 support is need to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat…

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Silver continued its spectacular run, and gold had a good week as well.
Underlying this performance was a weaker dollar. So far this year, measured in dollars, silver is up 28% and gold up 20%. On the week, gold rose from a low of $1228 to $1275 by early this morning (London time), and silver from $16…

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Gold’s break of 1287.8 last week indicates resumption of whole rally from 1045.4. Further rise should now be seen to 61.8% projection of 1045.4 to 1287.8 from 1228.5 at 1378.3 next. We’ll look for topping signal around there. On the downside, break of 1228.5 support is needed to indicate near term reversal…

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Saudi Arabia has been in the news recently for several interconnected reasons. Underlying it all is a spendthrift country that is rapidly becoming insolvent.
While the House of Saud remains strongly resistant to change, a mixture of reality and power-play is likely to dominate domestic politics in the coming years, following the ascendency of King Salman to the Saudi throne…

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Crude oil’s rise from 26.05 extended last week and broke mentioned target of 61.8% projection of 26.05 to 41.90 from 35.24 at 45.04. There is loss of momentum as seen is bearish divergence in 4 hours MACD. But there is no sign of topping yet. Further rally would be seen to 61.8% retracement of 62.58 to 26…

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April 27, 2016
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Investors Cautiously Awaiting Three Major Central Bank Meetings this Week + MORE

Vancouver, BC, Canada – April 27, 2016 – Miranda Gold Corp. (‘Miranda’) (TSX-V: MAD) and Prism Resources Inc. (‘Prism’) (NEX: PRS.H) are pleased to announce a planned drill program for the Cerro Oro Project in Colombia. Prism is the funding partner and Miranda is the operator in joint venture. Four to five angle holes totaling 1,000 m are planned…

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Market sentiment was a bit “risk-off” as the week starts, affected by disappointment in US and European macroeconomic data and cautions ahead of the upcoming FOMC and BOJ meetings. Wall Street ended Monday lower with DJIA and S&P 500 indices slipping -0.15% and -0.18% respectively with energy and financial sectors the weakest performers…

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Wall Street had a volatile day, torn between weaker US macroeconomic data and firm energy prices. Despite sliding earlier in the day, both DJIA and S&P 500 indices managed to record gains at the end of the day, adding +0.07% and +0.19% respectively. Nasdaq dropped -0.47%, however. The stock market was helped by energy and financial sectors…

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Shares in Asia edge lower as investors await central bank meetings this week. Despite signs of economic improvement, China’s CSI 300 has dropped -1.13%, continuing to pare the gains made 2 weeks ago, at the time of writing this report. Hong Kong’s Hang Seng Index has slipped -0.6% while Japan’s Nikkei 225 Index has also been down -0…

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April 24, 2016
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Silver Weekly Technical Outlook + MORE

Silver’s strong rally continued last week and reached as high as 17.72. Current development affirms the case of medium term reversal. Outlook will stay bullish as long as 16.17 resistance turned support holds. Silver should target 18.50 resistance next.

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Natural gas’ choppy rebound from 1.611 extended last week and further rise would be seen to 61.8% retracement of 2.495 to 1.611 at 2.157. Upside momentum isn’t too convincing yet and such rally could turn out to be a corrective pattern. Thus, we’d be cautious on loss of momentum and topping above 2…

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Dollar FMQ update

– .goldmoney.com

The Fiat Money Quantity continues to rise at an accelerated pace, and now stands at $14.286 trillion.
If it had continued to rise at the pre-Lehman crisis pace, it would be standing at only $8.474 trillion, a difference of $5.82 trillion. FMQ measures the quantity of money issued in return for the gold, first deposited in the forerunners to today’s commercial banks, and then transferred to the Fed after the creation of the Federal Reserve system…

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Crude oil’s rebound from 26.05 continued last week and further rise should be seen to 61.8% projection of 26.05 to 41.90 from 35.24 at 45.04. Firm break there will target 61.8% retracement of 62.58 to 26.05 at 48.63 next. In any case, near term outlook will stay bullish as long as 35.24 support holds…

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Gold was still bounded in the consolidation pattern from 1287.8 last week and outlook is unchanged. At this point, we’d expect strong support from 38.2% retracement of 1045.4 to 1287.8 at 1195.2 to contain downside in case of deeper fall. Rise from 1045.4 is expected at a later stage to break through 1287…

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Silver continued its stellar run this week, trading as high as $17.60 overnight in Asia on Thursday morning, and in mid-morning European trade today was 24.3% on the year, overtaking gold.
Gold finally caught a bid yesterday as well, running up as far as $1261 at the same time. Both metals opened strongly in US trading yesterday, with gold running up further still to $1270 and silver to $17…

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This week, clients have been net buying their metal positions; this was seen more so with the increased silver prices.
Clients have been speculating the market conditions and chasing the silver price as it increased. We have also seen an increase in the value of orders this week as clients take the opportunity to purchase gold at a lower rate…

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Gold-to-silver ratio, at 72.7 last Friday, has dropped to lowest level since October 2015. Indeed, silver has outperformed gold since the beginning of the year with +22.7% gains versus gold’s +15.9% increase. Going forward, the precious metal complex would benefit if Fed remains dovish, ECB keeps its monetary policy accommodative and global central banks continue to keep interest rates as exceptionally low levels…

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April 20, 2016
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Strength in Commodities Lift Sentiment + MORE

Natural gas’ sideway trading from 2.028 continued last week. Near term outlook stays bullish with 1.766 support intact. Above 2.028 will target 61.8% retracement of 2.495 to 1.611 at 2.157 next. Nonetheless, break of 1.766 will suggest that the rebound is finished and turn bias to the downside.

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Oil prices fell across the board on Monday as the Doha meeting over the weekend brought no agreement on output freeze. Saudi Arabia and other Gulf producers insisted inclusion of Iran in the deal. The touch stance of Saudi signaled its concerns over the loss of market shares after the deal. Oil prices slumped the most in 2 months with both crude oil benchmarks plunging more than -4% from last Friday’s close at the time of writing this article

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Crude oil’s rebound from 26.05 resumed last week by taking out 41.90 resistance. Near term outlook will stay bullish as long as 35.24 support holds. Current rise might now target 61.8% projection of 26.05 to 41.90 from 35.24 at 45.04 next. Break of 35.24, however, will suggest that rebound from 26.05 has completed and bring retest of this low…

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Fiat Money Fairytales

– .goldmoney.com

Fiat Money Fairytales

Introduction
The financial media are beginning to entertain the viewpoint that the recent policies of the Federal Reserve, ranging from zero-rates to quantitative easing to bank bailouts, are an important cause of rising inequality not only in the US but around the world. This past week, multiple media sources published an op-ed by eminent scholar George Gilder to this effect…

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Benefitted from the recovery in crude oil prices and better-than-expected corporate earnings results, Wall Street climbed higher with DJIA and S&P 500 indices adding +0.6% and +0.65% respectively. Shares in Asia also opened higher on Tuesday on the comeback of risk appetite. Crude oil prices had a roller coaster trading day with the front-month WTI contract initially slumping to as low as 37…

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Rally in commodity prices continue to buoy the financial markets. With disappointment of the Doha meeting quickly dissipated, oil prices strengthened with both crude benchmarks settling above US$40/bbl. The front-month WTI contract rose for the first time in 5 days, gaining +3.27% and closing at 41.08…

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April 16, 2016
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Miranda Gold Files Updated Technical Report For The Willow Creek Project, Alaska + MORE

Roy Sebag, CEO of GoldMoney and Founder of BitGold, and Josh Crumb, CSO of Goldmoney and Co-Founder of BitGold, recently sat down to talk with Real Vision Media.
Roy and Josh explain how ZIRP prevents retail investors from preserving their wealth, and the foundations of how BitGold uses blockchain inspired technology to provide a currency alternative, backing POS transactions with secure, physical gold…

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Market Report: Silver stars

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The gold price rose strongly on Monday and Tuesday, before drifting lower on Wednesday and Thursday.
In early European trading this morning, gold opened slightly stronger at $1230, up $2. Silver was the star performer this week, rising strongly to correct this year’s underperformance, as shown in our headline chart, and it broadly held its ground while gold lost about $30 from this week’s highs…

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This week, clients have been net selling their silver positions.
This is most likely due to clients speculating on the market and taking advantage of the higher silver prices seen earlier in the week. Most clients have favoured buying gold this week, and some have favoured the purchase of platinum and palladium…

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Vancouver, BC, Canada –April 14, 2016 — Miranda Gold Corp. (‘Miranda’) (TSX-V: MAD) has filed an updated NI 43 -101 technical report supporting the independently estimated resource for the Company’s Willow Creek Project, Alaska, as announced on March 7, 2016.

The report is titled ‘National Instrument 43-101 Technical Report: Mineral Resource Estimate for the Willow Creek Project, Matanuska-Susitna Borough, Alaska, USA’ prepared by Hard Rock Consulting (‘HRC’), Lakewood, Colorado, with and effective d

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The IMF’s Special Drawing Rights, the RMB and gold

Introduction
At the latest G20 meeting, China’s central bank vowed to promote the use of SDRs in the Chinese economy, just four months after the IMF decided to include the RMB as part of the currency basket underlying SDRs. Adding the RMB marks only the 5th time the Fund changed the composition of the basket since formally moving away from a gold based system in 1974…

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April 13, 2016
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Oil Prices Strengthen Despite Dampened Hopes of Demand/Supply Improvement + MORE

Shares in Asia mixed on Monday. At the time of writing this article, Japan’s Nikkei 225 Index has dropped -1.38% on yen’s strength. Equities in China gained as PPI deflation moderated. China’s CSI 300 index has added +1.74% while Hong Kong’s Hang Seng Index has climbed +0.51% in the morning session. In the commodity sector, crude oil remains firm following the rally last Friday…

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Oil prices surged to the highest levels in 2016 amidst a report suggesting that Saudi Arabia and Russia have reached an agreement on production freeze. As the market await the weekend meeting in Doha, such news helped lift hopes that the demand/supply fundamentals would tighten as big producers agree to cap outputs…

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Wall Street reversed gains made earlier in the day with DJIA and S&P 500 indices losing -0.12% and -0.27% respectively. Shares in Asia were mainly lower in morning session on Tuesday. In the commodity sector, crude oil prices strengthened with the front-month WTI contract adding +1.61% and the Brent contract up +2…

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April 9, 2016
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Crude Oil Weekly Technical Outlook + MORE

This week has been in favour of the sellers with clients net-selling their silver positions whilst gold positions have remained neutral.
GoldMoney’s clients have continued to favour the Singapore vault along with more interest being shown toward the Hong Kong, Swiss, and Canadian vaults and less preference being shown toward the London vault…

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Market Report: Firm undertones

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The dollar gold price rose this week from Monday’s low of $1215 to close last night (Thursday) at $1240, and silver rose from $14.90 to $15.20.
Silver’s performance compared with gold reflects lower than normal silver volatility, a trend that has featured from the start of this year, which can be discerned in the underperformance shown in the headline chart above…

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Natural gas stayed in range in side near term channel last week and outlook is unchanged. Fall from 2.496 is likely finished at 1.611 already. Further rise is in favor as long as 1.766 support holds. Current rally would gyrate towards 100% projection of 1.611 to 1.957 from 1.766 at 2.112 next.

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At this point, deeper fall is still mildly in favor in silver with focus on 14.61 support, 61.8% retracement of 13.62 to 16.17 at 14.59. Break would at least bring a test on 13.62 low, with mild prospect of breaking to a new low. Meanwhile, above 15.55 resistance will turn focus back to 16.17 instead…

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Volatility jumped with the VIX fear index urging to the highest level in 3 weeks. Risk assets got hammered. Wall Street retreated with DJIA and S&P 500 indices losing -0.98% and -1.2% respectively. Shares in Asia fell across the board in morning session today. In the commodity sector, crude oil pared gains made over the past two days…

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Interest rates and gold

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It is commonly assumed that the gold price and interest rates move in opposite directions.
In other words, a tendency towards higher interest rates is accompanied by a lower gold price. Like all assumptions about prices, sometimes it is true and sometimes not.The market today is all about synthetic gold, gold which is referred to but rarely delivered…

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The consolidation from 1287 short term top is still in progress. Deeper pull back might seen but seen to to 38.2% retracement of 1045.4 to 1287.8 at 1195.2 or below. But after all, price actions from 1287.8 should be corrective in nature. And, we’d expect rise from 1045.4 to resume later.

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Crude oil breached 35.96 support last week but quickly recovered. Initial bias is neutral this week first. We maintain our expectation that strong resistance from 40.00/41.42 resistance zone (61.8% retracement of 50.92 to 26.05 at 41.42, 38.2% retracement of 62.58 to 26.05 at 40.00) should complete the rebound from 26…

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April 6, 2016
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Silver Weekly Technical Outlook + MORE

The sharp fall from 16.17 suggests short term topping there and deeper fall could likely be seen in silver initially this week. The failure to take out 16.37 resistance raised some doubts on the larger bullish outlook. Also, Silver struggled to sustain above 55 weeks EMA. Hence, break of 14.61 support, 61…

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The break of 1225.1 support affirmed our view of short term topping at 1287.8. Deeper pull back should be seen to 38.2% retracement of 1045.4 to 1287.8 at 1195.2 or below. But after all, price actions from 1287.8 should be corrective in nature. And, we’d expect rise from 1045.4 to resume later.

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Crude oil’s decline last week is taken as as early sign that rebound from 26.05 is completed at 41.90. That’s in line with our expectation of strong resistance from 40.00/41.42 resistance zone (61.8% retracement of 50.92 to 26.05 at 41.42, 38.2% retracement of 62.58 to 26.05 at 40.00). Break of 35.96 will confirm this view and turn bias back to the downside for 55 days EMA (now at 33…

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Risk Rally Dissipating…

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Crude oil slides further in Asian session as the market loses hopes on better demand/supply balance. The front-month contract for WTI crude oil, now trading around 36.3, stays at the lowest level in mid-March. Price has retraced more than -10% of the gains made in the February rally. Similarly, Brent crude has also retreated from its recent rally…

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Commodities slumped as led by crude oil prices which plunged to lowest levels in a month on dented hopes of production freeze. The front-month WTI contract extended weakness to as low as 35.46 before settling at 35.7, down -2.96%. The Brent contract also declined -2.53%, following a -2.35% drop last Friday…

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