The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Published 3002 days ago
The Bank of England is keeping a close watch on consumer spending amid signs households are dipping into their savings and amassing debts to keep spending in the face of rising inflation. Mark Carney, the Bank governor, said consumer spending had held up since last summer’s vote to leave the EU but he reiterated a warning that living costs were likely to rise on the back of a weak pound and squeeze households’ real incomes. In a speech setting out the trade-off the Bank faces between keeping inflation in check and supporting growth and jobs, Carney noted signs that consumers continued to power the UK economy. “At present, households appear to be entirely looking through Brexit-related uncertainties. The saving rate has fallen towards its pre-crisis lows, and consumer borrowing has accelerated notably,” Carney said in a speech to the London School of Economics last Monday.
Published 2932 days ago
Last week the German newspaper Handelsblatt reported that leaked documents they’ve seen from the country’s finance ministry warn that a so-called hard Brexit would have ‘grave economic and systematic consequences for Europe.
Published 2638 days ago
Looking at all bull markets in the S&P since the year 1900, and then examined what happened in the very first year after each of those bull markets ended is interesting. In the first year of the bear market after the last full year of the bull market the numbers were striking and could be useful if 2017 ends up being the peak of the bull market.
Published 2492 days ago
The pain of the 2008 crash will seem like a mere flesh wound compared to the devastation the next deflationary wave will wreak...
Published 1212 days ago
Well that was a strange week! Having plunged as low as $1765 earlier this month from a high point of $1872 mid-November, Gold has been trying to put in a recovery but there have been some strange reactions.
Published 3114 days ago
The UK's economic growth for the second quarter has been revised upwards by the Office for National Statistics to 0.7%, from a previous estimate of 0.6% as the ONS said service sector growth and consumer spending had come in stronger than previously thought. Brexit?
Published 1155 days ago
This is the third financial bubble of my professional career, and I would say the most dangerous because it covers many different asset classes, especially equities and bonds, and for the first time in history it is global.
Published 932 days ago
As we pass over the Equinox and the nights noticeably draw in, I believe that we are moving into a new era more than ever before. This is not only because the spectacular pageantry marking the end of the Elizabethan age is now behind us, but also because of several announcements from the newly formed Government and the latest deliberations on interest rates from the Bank of England will determine the success or failure of Liz Truss’s new government: and all this against an ever deteriorating global economic and political backdrop.
Published 1275 days ago
Gold finished this week at $1768 per oz, up $11 on last week and $6 on the week before – hardly an earth-shattering move. But mid-week it hit $1800 on CPI inflation data from the US showing that prices had risen more than expected at +0.4% in September against expectations of 0.3%. Suddenly everyone was worrying about inflation – so much for the Fed’s “transitory” label: the truth is emerging that inflation is indeed a problem. What kicked Gold back down again was US retail sales for September, but there is a bit of a problem with that…..
Published 2659 days ago
There are serious economic challenges coming in the near future, and they are going to change all of our lives in ways that we haven’t even considered yet. Some good, others bad.
Published 1429 days ago
Last week I noted that the calamitous latest US jobs data had helped the yellow metal over the $1800 mark and Gold reached $1831 as the magnitude of the miss sank in. Jordan Roy-Byrne, of TheDailyGold.com had been predicting a rise to between $1825-1850 before hitting overhead resistance and this week saw inflation data pushing ever higher which was taken as a cue to sell off.
Published 1331 days ago
I have been noting for the last few weeks how the Gold price has been fairly stable (…ish!) whilst Gold stocks have been falling. Last week I had wondered whether a mini double-bottom put in by gold stocks might draw an end to this. Alas, no – here is the chart for Gold, GDX (large gold-miners’ ETF), GDXJ (“junior” miners ETF) and GOEX (gold explorers’ ETF). They are still dropping.
Published 2767 days ago
Hugh Hendry was one of the funniest and articulate of fund managers and for a while his Eclectica funds delivered - as bears - spectacular returns. But Mr Market went against him and he has now closed up shop with his main fund worth a meagre $30.6 million. His final parting shot is a letter in which he has given up on fighting fake news. Over to the great man
Published 1191 days ago
Our favourite technical analyst, Jordan Roy-Byrne of TheDailyGold.com, reckons that Gold is in for some slippage – it could slip down to around $1670 or so in the run-up to the Fed’s first interest rate hike, probably in March. If that is not enough, the minutes of the last Fed rate-setting meeting made it clear that it will be tightening policy – and possibly performing quantitative tightening (the opposite of QE) too. Normally that might be seen as a cue for the yellow metal to nose-dive, and although it fell once again below $1800 it closed the week at a resilient $1797 – down just $33 from the close at the end of 2021.
Published 988 days ago
Hello Share Mixers. There are decisions challenging those of us who’ve sold a bevy of shares in favour of cash. When will the tide turn, making it wise to buy back in the stock market? There are slight signals that the Footsie is stabilising and is even edging up on most days. But I’m not buying back yet. For these reasons.
Published 1184 days ago
Gold ended the week at $1818, nicely up from last week’s drop to below $1790 and the close at $1797. The yellow metal is still not though $1830 resistance but the general direction of travel over the past month and a half has been upwards and the past four and a bit months has seen a steadily rising series of low points – even if of late there seems to be a ceiling at $1830.
Published 1157 days ago
The all-important inflation data for January in the US has come out. Anyone still taken in by the Fed’s “transitory” description of the thief in the night will be sorely disappointed and the pie-in-the-sky wishful thinking that saw people thinking that inflation might moderate in the face merely of threats of rate rises have had a bit of a shock.
Published 1309 days ago
I had hoped that Gold might push through resistance at $1830-50 last week, but it did not – and the price slipped more-or-less all week to close at $1787 per oz, down from $1828 a week ago. The apparent resistance tells me that there is some way to go before there is enough market strength to push on higher to $1900 and beyond.
Published 4142 days ago
Brent Johnson, CEO of Santiago Capital, was recently on CNBC. “Buy gold if you believe in math,” he told viewers. Following that Henry Bonner of Sprott Capital interviewed him and the bullish predictions are below:
Published 1072 days ago
That was a rip-roaring week! One might be tempted to suggest that equity markets do not know what they want: they were sliding ahead of the Fed’s rate decision in fear of a rate hike. When they got it (a half point rise) they went up. And when the dust settled they went down again. Gold and Bonds did much the same.
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