Gold Shorts Pile On, Let's Investigate the Timing

Oct 1, 2022

Let's discuss action in gold, commitment of trader reports, and faith in the Fed. Gold chart courtesy of StockCharts.com annotations by Mish. This post is inspired by a pair of Tweets by Fred Hickey on the COT position and a response to it. The Managed Money position tends to be late in entry on the way up, and overstay  shorts and longs when reversals are at hand.  Note that the Commission of Traders (COT) reports come out on Friday but reflect the position on the p ...read more

Factbox: Singapore's PM-in-waiting takes new step towards leadership - Reuters.com

Oct 1, 2022

Singapore Minister Lawrence Wong seen in this picture at the Southeast Asian Games in 2015. Prime Minister Lee Hsien Loong has said Wong would succeed him as PM. Mandatory Credit: Singapore SEA Games Organising Committee / Action Images via Reuters/File Photo Register now for FREE unlimited access to Reuters.com SINGAPORE, June 6 (Reuters) - Singapore's finance minister, Lawrence Wong, will be promoted to deputy prime minister on June 13, according to an official statement released on Mo ...read more

(VIDEO) How Bad Will Inflation Get for Retirement Savers?

Oct 1, 2022

Augusta cannot guarantee, and makes no representation, that any metals purchased by a customer will appreciate at all or appreciate sufficiently to make a profit, and there is no certainty that any metals can be sold for a profit. The future value of the coins you purchase cannot be predicted. You could lose money. Don't purchase Augusta products with money you can't afford to lose. Prices may rise and fall over time or rapidly. Past performance of any coin does not guarantee future results. Pr ...read more

Metals Stocks: Gold futures edge lower after wild week for markets

Oct 1, 2022

Gold futures settled lower on Friday, marking a loss on the week as prices reversed part of a two-session rebound on the back of risk-off sentiment that helped lift the price of the precious metal briefly north of $1,850 per ounce. Price action August gold GCQ22, +0.05% GC00, +0.05% declined by $9.30, or 0.5%, to settle at $1,840.60 an ounce. Based on the most-active contract, prices finished 1.9% lower for the week. Silver for July delivery SIN22, +0.20% SI00, +0.20% fell 30 cents, or ...read more

The CPI Much Hotter Than Expected Rises to New 40-Year High

Oct 1, 2022

Treasury Secretary Janet Yellen's yapping over the past few days set the tone for the CPI news today. Comment CPI data from BLS, PCE data from BEA, chart by Mish Today the BLS released the Consumer Price Index for April and it was a a scorcher. Personal Consumption Expenditures (PCE) data is from the BEA and lags by a bit.  The CPI is a measure of expenses directly paid by consumers whereas PCE also includes items pain on ...read more

Commercial Real Estate’s Early Autumn: We Now See Price Cuts, Blown Deals, Widening Bid-Ask Spreads

Oct 1, 2022

We listed a 40-unit apartment building in the East Bay, a couple months too late, and a shopping center in Silicon Valley. Here’s what happened. By John E. McNellis, Principal at real estate developer McNellis Partners, for WOLF STREET: The Wall Street Journal reported last week that April’s commercial property sales were down 16 percent compared to April 2021. In detailing the market’s loss of velocity, the newspaper stated that the hotel, senior housing, office buildings and industria ...read more

Metals Stocks: Gold futures edge lower after ECB rate-hike announcement

Oct 1, 2022

Gold prices fell on Thursday following b a ck-to-back gains after the European Central Bank said it would raise interest rates in July for the first time in more than a decade, while also putting a larger half-point increase on the map for September, unless high inflation in Europe starts to recede. Trading in the U.S. remained lackluster ahead of May inflation data due out Friday. Price action Gold futures for August GCQ22, +0.05% GC00, +0.05% fell 0.2%, or $3.70, to settle at $1,852.80 a ...read more

“Real Estate Tech” in Existential Crisis as Housing Sours, Stocks Plunge, New Money Out of Reach: Redfin & Compass Try to Survive by Cutting Staff. Opendoor, Zillow Sag

Oct 1, 2022

In short, the party ran out of bamboozle. By Wolf Richter for WOLF STREET. Here’s the problem with companies whose hype-and hoopla stocks have collapsed by 80% or 90%: They’re facing an existential crisis. They cannot raise more money. But their operations were never designed to make money in the first place. Their business model relied on burning cash, and the whole thing was designed from get-go to use home-made growth metrics to bamboozle investors into buying the stock and pump u ...read more