Koeman wants a striker but won’t comment on Costa

first_imgEmbed from Getty ImagesRonald Koeman said it is vital Everton sign a striker following their defeat at Chelsea but refused to comment on reports he could make a pre-deadline move for Diego Costa.Koeman’s side were beaten 2-0 at Stamford Bridge, where first-half goals from Cesc Fabregas and Alvaro Morata gave the champions a comfortable victory.Boss Koeman is keen for his club to bring in two players before the transfer window closes on Thursday.The Merseyside club have been linked with Chelsea forward Costa, who wants to return to his former club Atletico Madrid.Embed from Getty ImagesKoeman would not comment on whether Costa could end up at Goodison Park, but he said: “We need at least two more players but the most important is a striker and one more player.“That’s what we need. The board knows the importance of these two signings.”Koeman conceded that his team were very much second best against Chelsea, particularly during a one-sided first half.He said: “I am disappointed about the first half because the ball possession was poor and that cost us the second goal.“We had spaces to play and didn’t play. We had not enough movement to give options to the player on the ball.“You know how Chelsea press and you have to be at your best to get a result against them and we were not at our best. We lost it in the first half not the second.“The first half was not good enough but I’m proud at how they fought until the last second to at least remain a team on the pitch.”See also:Transfer gossip: Barkley prefers Spurs move over Chelsea, Sunday Times claimsConte speaks to Belgium boss about Hazard’s call-up Follow West London Sport on TwitterFind us on Facebooklast_img read more

Tumblr Adopts The Oatmeal’s Suggested Fail Whale Page

first_imgRelated Posts Why Tech Companies Need Simpler Terms of Servic… marshall kirkpatrick Giant blogging platform Tumblr has decided to adopt cartoonist Matthew “The Oatmeal” Inman’s suggestion for a “fail whale” down-time graphic, the artist said in a Twitter message this afternoon. Inman posted the image of TumblBeasts taking over the servers this afternoon and said “please oh please use it” to Tumblr. Four hours later, Inman said he’d received an email from Tumblr’s founder agreeing to use the image. You can see the end result below or live at this link.Tumblr is a fast-growing publishing platform (last month we reported it has now raised more money and sees more hosted pageviews each month than WordPress) but it has struggled with occasional down-time, as such platforms often do. Its urban hipster image sometimes leads to mockery of its upset users when they complain of downtime, but we argued in support of those emotions in a December post titled Why a Day of Tumblr Downtime Matters to the Entire Web & World.You’ll note that the monsters got a name change when they were let inside the house. Personally, I like Inman’s TumblBeasts a little better.Inman has propelled his web comic to fame less than two years since launching it. He was the subject of an interview on tech blog Mashable this morning, for example. Inman has grown famous on the web for web-centric humor satirizing things like email, but has built his business from sales of more utilitarian works of humor like How to Use a Semicolon. Next time Tumblr goes down, which Inman tongue-in-cheek Tweets he hopes happens soon, now you’ll know where that image came from.In the Summer of 2008, ReadWriteWeb’s Sarah Perez wrote about how a much less well-known designer named Yiying Lu posted a whale graphic to iStockPhoto and then saw a community of Twitter fans propel the image into official use as the page telling users when Twitter is down. Top Reasons to Go With Managed WordPress Hostingcenter_img A Web Developer’s New Best Friend is the AI Wai… 8 Best WordPress Hosting Solutions on the Market Tags:#Blogging#web last_img read more

JU scuffle to be probed, V-C in a state of shock: Minister

first_imgWest Bengal Education Minister Partha Chatterjee on Wednesday said that Jadavpur University Vice-Chancellor Suranjan Das, who was hospitalised after some students allegedly manhandled him, is in a state of “shock”.Mr. Chatterjee, who visited Mr. Das at the hospital earlier in the day, said that the incident will be probed. “We have asked for a video footage of the incident. We want to find out who all are behind (the alleged assault). Mr. Das is still in a state of shock,” he said.‘Verbal abuse’ Stating that Mr. Das was subjected to “verbal abuse”, the Minister added, “I have heard about the entire incident from the pro-V-C and Registrar. I will report the matter to the Chief Minister. This can’t go on.” A scuffle had broken out on Tuesday between two groups of students, who wanted to approach the V-C with their demands as soon as he stepped out of his office. A private hospital, where the Vice-Chancellor has been admitted, said in a statement that Mr. Das had to undergo X-ray for injuries he might have sustained and has been kept under observation. His blood pressure had shot up on Tuesday night, but now he is stable, the hospital said. While the Arts Faculty Students’ Union claimed it wanted to find out if the JU executive council had taken up the issue of “inordinate delay” in facilitating elections, the members of the Trinamool Chhatra Parishad said they sought to know about the status of a molestation case. The AFSU and TMCP members have accused each other of starting the scuffle.After the Tuesday’s incident, Mr. Das had said that he felt insulted and humiliated. “This had never happened to me in the past. The students blocked my path and turned aggressive even as I was trying to say that I am ready to speak to them.”last_img read more

Video: Bret Bielema May Have Also Bumped Into Kenyan Drake On Purpose

first_imgbret bielema kenyan drakebret bielema kenyan drakeEarlier Monday morning, we showed you a video of Arkansas head coach Bret Bielema pulling what can only be described as a questionable move on Alabama offensive lineman Cam Robinson. It turns out it may not have been the only time the Razorbacks coach got physical with a member of the Crimson Tide.In the below video, also taken from Saturday’s contest, Bielema appears to bump Alabama running back Kenyan Drake out of bounds near the end of a play – again. Judge for yourself.Was it intentional? Regardless, it’s about to be the second viral video involving Bielema’s conduct during Saturday’s game.last_img

Supreme Court rejects First Nations bid to appeal cuts to social assistance

first_imgAPTN National NewsIt’s a setback for chiefs in the Maritimes as a five-year court battle came to an end Thursday.Mi’kmaq and Maliseet leaders fought Ottawa’s plan to reform on-reserve social assistance.They asked the Supreme Court of Canada to hear the case.APTN’s Trina Roache has the story.last_img

New York New York – Reported by Elite Traveler t

first_imgNew York, New York – Reported by Elite Traveler, the Private Jet Lifestyle MagazineFor the fourth year in a row, Cartier will team with Art Basel Miami Beach from December 2nd to 5th, 2010, this time to showcase a space designed by renowned Japanese filmmaker, comic and TV presenter Beat Takeshi Kitano.In keeping with the house’s strong commitment to contemporary art, Cartier hosted Kitano’s exhibition Gosse de peintre at the Fondation Cartier pour l’art contemporain in Paris from March to September this year. The idea behind that exhibition will continue in Miami, as Kitano, inspired by childhood, has created a space with his drawings which visitors, both children and adults alike, are invited to color according to their whims.A Gosse de peintre kit inspired by Kitano and made by Cartier will be sold via auction. All proceeds will go to charity.www.artbaselmiamibeach.com www.cartier.comlast_img read more

TV will continue to take the biggest share of the

first_imgTV will continue to take the biggest share of the global ad market in 2016, with spend expected to grow by 3.1% this year driven by the Olympic Games and US elections, according to new research.In its Ad Spend Report, media agency Carat said that while digital is “constantly closing the gap”, TV continues to “command the majority of market share” and will account for an estimated 41.4% of total global advertising spend this year.This compares to a 27.0% estimated share for digital ad spend, although this sector is expanding far more rapidly and “continues to be the star performer for growth”, according to Carat.“TV advertising spend is forecast to grow moderately by 3.1% in 2016 supported by major media events including the US presidential elections, the UEFA Euro 2016 football championship and the Rio 2016 Olympics and Paralympics. Growth in TV advertising spend is estimated to continue at a moderated pace of 2.9% in 2017,” said the report.While TV ad spend continues to grow in real terms, as a proportion of the overall ad market its share is declining slightly – from a 42.0% share in 2015 to a projected 40.7% share in 2017.By contrast, digital ad spend is tipped to grow from a 24.6% share of the global ad market in 2015 to 29.3% in 2017.In cash terms, digital spend is expected to grow by 15.0% this year, driven by an upsurge in mobile (+37.9%), online video (+34.7%) and social media (+29.8%).“The influence of digital media is significantly more complex than the 27% [global ad market share] figure might suggest. We are using a truly digital mindset to plan TV; we buy TV airtime programmatically and use TV to drive search,” said Sanjay Nazerali, chief strategy officer, Carat Global.“We leverage social to boost linear TV ratings and amplify user-generated content. With this mindset we combine TV and rich consumer data to buy against people, not schedules.”Overall global ad spend is expected to grow by US$23 billion in 2016 to reach US$538 billion – a 4.5% year-on-year increase, according to the research.Commenting on the findings of the report, Jerry Buhlmann, CEO of digital marketing and communications company Dentsu Aegis said: “the strength of digital continues to be the dominant element in the growth of the global advertising expenditure whilst TV spend remains as the foundations of our industry.”last_img read more

The dollar index closed on Friday at 8277…and gap

first_img The dollar index closed on Friday at 82.77…and gapped down about 10 basis points as soon as trading opened on Sunday night in New York.  After that, it rallied to its high of the day…82.89…which came at the open of equity trading in New York…9:30 a.m. Eastern time.  From there it got sold off into the close…finishing the Monday session at 82.65…down 12 basis points on the day. A cursory glance at the gold and silver charts from yesterday shows no correlation between the precious metals and the dollar index. Although gold’s low came at 10:30 a.m. in New York, the gold shares didn’t hit their nadir until 12:15 p.m. Eastern.  After that they rallied weakly along with the gold price…and then traded sideways after 2:00 p.m. Eastern time.  The HUI finished up 1.49%. Sponsor Advertisement Being a Tuesday, I have lots of stories from the weekend…and a goodly portion of them are gold related and well worth reading, so I hope you can find the time to spend on them. Obviously the U.S. Mint can’t keep up with demand for Silver Eagles…placing it in violation of the law which mandates enough bullion Silver and Gold Eagles must be produced to satisfy demand. But man-made laws can’t trump the law of supply and demand indefinitely. Many are still quick to point out that any silver shortage is confined to a number of retail forms of silver and not in the wholesale industry standard form of 1,000 oz bars. That seems to be true, but the silver retail shortage is burning intensely and the winds are strong and the firebreak separating retail and wholesale are more likely than ever to be breached. The simple fact is that these retail silver shortages have been flaring up on a recurring basis over the past few years and the current one is the strongest one yet. From everything I’ve observed, the retail shortage is bound to intensify…and I won’t keep it a secret as to what is the underlying cause – the price of silver is too low. – Silver analyst Ted Butler…20 April 2013 In a bifurcated market such as this one, it’s always hard to determine whether the hourly and daily charts for gold or silver are remotely close to free markets.  At times they have characteristics of a free market…but then a not-for-profit seller shows up…and that’s it for the day…with yesterday’s price action in both gold and silver being another case in point. As Ted mentioned in his quote above, the silver price is too low…way too low…and so is gold.  And as Grant Williams so exquisitely put it in his commentary posted above…”I can promise you that not a single one of those crashes, collapses, or crises ended up with retail investors stampeding to buy the asset that was supposedly cratering.” As the stories in the ‘Crticial Read’ section have pointed out…the precious metal markets are a firestorm of buyers…and they have sucked the pipeline clean of all precious metals world-wide over the last week.  It will take many months to fill it again, if it can be done at all, especially if JPMorgan Chase et al continue to keep the precious metals at these giveaway prices. We’re still only selling 100 oz. silver bars at the store, as that’s all we can get…and I’d bet that even this tiny window that we have into the silver market will disappear soon.  There’s nothing to buy anywhere, unless you want to pay a huge premium on e-bay. Well, the Commitment of Traders Report was not changed yesterday, so I doubt very much if it will be until Friday’s COT Report.  At that point we’ll find out whether this now-obvious false reporting from last week will be rectified at that point…or have JPMorgan Chase and the CME Group corrupted this report permanently?  We’ll find out soon enough. This bifurcated market cannot…and will not last.  The total disconnect between the paper market price and the physical market price has to resolved…and resolved quickly…as the pressure on physical demand has gone supernova.  Now that this fire is lit, it will be self-sustaining until prices change…and change drastically. The bullion banks and central banks are really up against it now…and have been caught in a trap of their own making…a plan that literally blew up in their faces.  They discovered in a real hurry that the buyers of 2013 were wise to them…and didn’t react the way they had back in 2011 when “da boyz” pulled this same stunt. If there every was a time for the world’s central banks to mark up the prices of all the precious metals [plus copper and crude oil] this would be the time to do it.  But in order to kill demand in precious metals stone-cold dead…it will take a big price adjustment to do it…and that’s why they’re going all-out to rid themselves of as much of their short positions [and/or go long] in these six commodities as they can.  And that’s why the last COT report was a fabrication, as they don’t want anyone to see what progress they’re making. I note that all four precious metals came under selling pressure in the thinly-traded and highly illiquid Far East trading session on their Tuesday, with the lows coming just moments before 3:00 p.m. in Hong Kong…which was just moments before the 8:00 a.m. BST London open.  As of 3:30 a.m. Eastern time, gross volumes are already very chunky in gold…over 44,000 contracts…and over 12,000 contracts [net] in silver.  The high-frequency traders are definitely out and about. And as I hit the ‘send’ button at 5:10 a.m. Eastern time, I see that “Da Boyz” continued to be active even past the London open…and it should come as no surprise to you, dear reader, that silver was hit the hardest once again.  As you already know, this precious metal is the biggest problem child of JPMorgan Chase, Canada’s Bank of Nova Scotia…and HSBC USA.  Gold is down about eleven bucks…and silver is down 65 cents..but was down over 80 cents at its 8:55 a.m. BST low.  Gold’s gross volume is now north of 58,000 contracts…and silver’s net volume is just above the 15,000 contract mark. The dollar index dipped about 15 basis points going into the London open…and then blasted skyward.  It’s just an eyelash above the 83.00 mark as I write this. I’m watching the current situation with morbid fascination and, like everyone else out there, I’m making things up as I go along, as this really is a Star Trek-type of precious metals market.  Right now we’re only at Warp Factor 1…but I don’t expect that to last too much longer. The rest of today’s trading action, once we get past the noon silver fix in London, should prove interesting. See you tomorrow. Here’s your “cute quota” for the day… (Click on image to enlarge) For whatever reason, the CME Daily Delivery Report was never updated from Friday’s data.  I’m looking at the correct page on their website at ten minutes before midnight Eastern Daylight time…and it has not been updated.  Normally it’s updated by 10:00 p.m. Eastern. Well, the finally did the update, but it was after midnight Eastern time before the got around to it. I discovered it around 4:30 a.m. Eastern when I was doing the final edit.  The report showed that 43 gold and 11 silver contracts were posted for delivery tomorrow…and the link to the current Issuers and Stoppers Report is here. GLD took another big hit yesterday, as 589,959 troy ounces were reported withdrawn yesterday…and as of 11:55 p.m. Eastern time last night, there were no reported changes in SLV. There was a decent sales report from the U.S. Mint yesterday.  They sold 7,500 ounces of gold eagles…7,000 one-ounce 24K gold buffaloes…and 681,000 silver eagles. Over at the Comex-approved depositories on Friday, they didn’t report receiving any silver…but they shipped 702,149 troy ounces of the stuff out the door.  The link to that activity is here. Monday was another busy sales day at the store…but not quite as busy as Friday.  Gold sales were really strong, as one customer came in and ordered an eye-watering amount of gold maple leafs.  We still only have 100 oz. silver bars for sale…and there was still no change from the mints or the wholesalers, as none of them are taking orders. Here’s a chart that reader Richard Sypher sent my way yesterday.  He borrowed it from yesterday’s edition of the “Daily Pfennig“..and I thank him for it.center_img Silver’s price pattern was similar, but the rally into the noon hour London high wasn’t anywhere near as impressive as gold’s.  After that high tick, the silver price pretty much followed the gold price pattern. Silver closed at $23.41 spot…up a whole 13 cents from Friday’s close.  Volume, net of roll-overs out of the May contract, was only 32,500 contracts. The precious metal markets are a firestorm of buyers…and they have sucked the pipeline clean Gold traded flat when it opened in New York on Sunday night…but early in Tokyo trading on their Monday morning, the price jumped up about ten bucks…and stayed there until 10:00 a.m. in London, where it jumped up a few more times, but ran into the proverbial brick wall shortly after 12:00 o’clock noon BST. From that high, gold got sold down about twenty-five bucks…hitting it New York low at 10:30 a.m. Eastern time.  After that, it slowly gained back some of that loss by 2:00 p.m…and then didn’t do much going into the 5:15 p.m. close of electronic trading. Gold closed the Monday trading session at $1426.30 spot…up $19.80 on the day.  Gross volume was around 199,000 contracts…with a large chunk of that occurring early in the trading day…up until the London high of the day. The silver stocks traded mixed…and Nick Laird’s Intraday Silver Sentiment Index closed up a smallish 0.57%. Freegold Ventures Limited is a North American gold exploration company with three gold projects in Alaska. Current projects include Golden Summit, Vinasale and Rob. Both Vinasale and Golden Summit host NI 43-101 Compliant Resource Calculations. An updated NI 43-101 resource was calculated on Golden Summit in October 2012 and using 0.3 g/t cutoff  the current resource is 73,580,000 tonnes grading 0.67 g/t Au for total of 1,576,000 contained ounces in the indicated category, and 223,300,000 tonnes grading 0.62 g/t Au for a total of 4,437,000 contained ounces in the inferred category. In addition to the Golden Summit Project the Vinasale also hosts a NI 43-101 resource calculation which was updated in March 2013. Indicated resources are 3.41 million tonnes averaging 1.48 g/t Au for 162,000 ounces, and Inferred resources are 53.25 million tonnes averaging 1.05 g/t Au for 1,799,000 ounces of gold utilizing a cutoff value of 0.5 grams/tonne (g/t) as a possible open pit cutoff. Please send us an email for more information, ir@freegoldventures.comlast_img read more

Silvers early morning rally in the Far East ran i

first_img Silver’s early morning rally in the Far East ran into a major seller of last resort, as volume was north of 12,000 contracts by 11 a.m. in Tokyo. Silver was up almost 70 cents by that time, and from there it got sold down in fits and starts to its London low around $20.80 spot, which occurred about 12:15 p.m. BST in London, a slightly late silver fix, perhaps?  After that, the silver price pretty much followed the gold price up until 9:20 a.m. EDT in New York.  But, unlike gold, silver didn’t get sold down, it continued to creep higher in price, with the high tick [$21.59 spot] coming in electronic trading after the Comex close.  The silver price got sold down a bit going into the 5:15 close. Silver finished the day at $21.42, up 87 cents from Friday’s close.  Of course it, like gold, would have finished phenomenally higher if it had been allowed to do so, which it obviously wasn’t.  Net volume was around 51,500 contracts, with about 12, 000 or so contracts traded by 10 a.m. Hong Kong time.  The volume after that was slightly elevated, but nothing special. For the day, gold was up 1.72%, silver closed up 4.23%, platinum was down 0.40%, and palladium was down 0.54%. The dollar index closed on Friday at 81.12, and traded pretty flat until 2 p.m. in Hong Kong yesterday afternoon local time.  From there it rallied to its 81.50 high, which occurred at 8:20 a.m. EDT, right at the Comex open.  By noon it was back down to 81.30, before rallying into the close.  The index finished the Monday trading session at 81.48, up 36 basis points from Friday’s close. Not surprisingly, the silver stocks did even better, as Nick Laird’s Intraday Silver Sentiment Index finished the day up 6.11%.  A lot of the smaller junior producers/exploration companies finished up double digits.  However, at these depressed share prices, that’s not hard to do, but nice to see, anyway. (Click on image to enlarge) The CME’s Daily Delivery Report showed that 58 gold and zero silver contracts were posted for delivery within the Comex-approved depositories tomorrow.  The short/issuer of all 58 contracts was JPMorgan Chase out of its client account, and the only long/stopper of note was JPMorgan Chase in its proprietary [in-house] account.  It was ever thus!  The link to yesterday’s Issuers and Stoppers Report is here. The CME’s preliminary volume report for Monday’s trading shows that there are still around 1,300 gold contracts still open in August.  It will be interesting to see not only how many of these contract holders actually stand for delivery, but who the issuers and stoppers might be. I was rather surprised to see that there were no additions to either GLD or SLV yesterday.  But maybe I’m being impatient.  Let’s see what today brings.  I’m particularly interested in seeing what, if anything, is deposited in SLV in response to Monday’s [and last Thursday’s] move in the silver price. Joshua Gibbons, the Guru of the SLV Bar List finally updated his website with last week’s data.  Here, in part, is what he had to say about SLV’s bar list as of the close of business on Wednesday, August 7th, “Analysis of the 07 August bar list, and comparison to the previous week’s list showed that 717,065.6 oz. were removed (0.5M oz. from Via Mat, 0.2M oz. from Brinks London), and no bars were added or had a serial number change.  The bars removed were from: JSC (0.3M oz.), Korea Zinc (0.2M oz.), Shui Kou (0.1M oz.), and 4 others.”  The link to his website is here. The U.S. Mint had a sales report.  Once again, gold sales were very poor.  They sold only 500 ounces of gold eagles, 1,500 one-ounce 24K gold buffaloes, and 746,000 silver eagles. Over at the Comex-approved depositories on Friday, they reported shipping out 164,500 troy ounces of silver, and didn’t report receiving any.  None of the reported movements involved JPMorgan Chase.  The link to that activity is here. In gold, they reported receiving 73,146 troy ounces, and shipped 100,467 ounces out the door.  But a cursory glance at the numbers shows that a large percentage of it involved transfers within the Comex-approved depositories, Scotiabank to HSBC USA, and HSBC USA to JPMorgan Chase, the ‘Big 3’ shorts in silver, and two of the three biggest short holders in gold.  In other words, it was “all the usual suspects”.  The link to that action is here. Considering this is a Tuesday column, I don’t have all that many stories, and most of the ones I do have are precious metal related.  I hope you have time to read them all. The reduction in the SLV short position by deposits of physical metal, and not by plain-vanilla share buying to cover short sales, points to tightness in the wholesale physical silver market. How so? Because it strongly suggests that SLV shares were originally sold short precisely because there was not sufficient metal available to deposit into the trust at that time. Only after the physical metal could be procured did the deposits take place. This is not the first time this has occurred and this is certainly not the only sign of wholesale tightness in the wholesale silver market. After a while, when it looks like, quacks like, and walks like a duck, chances are it is a duck (or genuine silver wholesale tightness). – Silver analyst Ted Butler, 10 August 2013 I was certainly happy to see the nice moves in both gold and silver yesterday, and it should come as no surprise to you, dear reader, that silver vastly outperformed gold.  That should continue. But I wasn’t overly amused by the fact that there was obvious opposition by a not-for-profit seller in the Far East on their Monday morning, as the volume was enormous for that time of day.  We’ll have to wait until Friday’s Commitment of Traders Report to see how much damage was done, not only yesterday, but for the entire reporting week, which has seen a big jump in price in both metals.  Today, at the close of Comex trading, is the cut-off for that report. It’s also obvious that the 50-day moving averages in both silver and gold got totally obliterated yesterday.  Here are their respective 6-month charts. It should come as no surprise to you, dear reader, that silver vastly outperformed gold. Gold rallied right from the open in New York on Sunday night.  The buying ended, or the rally got capped, about forty-five minutes later.  Volume by 11 a.m. in Tokyo was just north of 25,000 contracts, so these rallies did not go unopposed. The gold price traded sideways in a tight range either side of $1,330 spot until about  half an hour after the 8 a.m. London open, and developed a negative bias going into the noon BST London silver fix.  It began to rally from there, but it was the two [short covering?] rallies between 9 and 9:30 a.m. in New York that added another fifteen bucks to the price in very short order.  The high tick came around 9:20 a.m. EDT, which Kitco recorded as $1,345.60 spot. After that, gold got sold down ten bucks going into the 1:30 p.m. Comex close, and didn’t do much from there. Gold finished the Monday trading session at $1,337.30, up $22.60 on the day, but well off its high.  Volume, net of August and September, was around 151,000, but a big chunk of that traded in the first hour in Tokyo on their Monday morning, as it appeared that a fair amount of firepower was used to kill that rally. (Click on image to enlarge) The gold stocks gapped up a bit over four percent at the open yesterday, and were up almost seven percent at their highest, which was shortly before 1 p.m. EDT.  After that they faded a bit for the rest of the day.  The HUI turned a respectable performance nonetheless, closing up 5.51%. Sponsor Advertisement (Click on image to enlarge) Needless to say, I’m looking forward to what the technical funds do with their massive short positions now that this key moving average has been penetrated with a vengeance.  And even more important, will JPMorgan Chase be there on the sell side when these funds begin to cover?  I’m sure that Ted Butler’s raptors will be taking profits as the price climbs, but JPMorgan Chase is still running this show, and now have a long-side corner on the market.  It remains to be seen how they use it, and I suspect that we won’t have long to wait to get the answer to that question. I took a quick peek at the preliminary volume numbers for Monday’s trading day, and even though I don’t wish to read too much into them, as they can change quite a bit when the final numbers get posted later this morning EDT, I was surprised to see that gold’s open interest was only up 3,000 contracts, which isn’t a lot.  However, silver’s open interest blew out by 6,700 contracts, and that’s a huge amount.  Hopefully the final numbers will show improvements, especially in silver. The price action in Far East trading on their Tuesday was choppy, and volumes reasonably light, and mostly of the high-frequency trading variety, so I’m not going to read a thing into these markets.  However, at 2 p.m. Hong Kong time, all four precious metals began to move higher in unison, but all got capped the moment that London opened for trading an hour later.  And as I hit the ‘send’ button on this morning’s column at 5:18 a.m. EDT, gold is back below Monday’s close by a few bucks, platinum is up a bit over a percent, and palladium is up a few bucks.  But silver is struggling higher, as it appears that the sellers of last resort are throwing everything they can at the price.  It was up over 40 cents at one point, but is now up only about 22 cents. Volumes have really blow out.  Gold volume has now doubled since London opened, and is now a bit north of 36,000 contracts.  The same can be said for silver, as the volume is now a whopping 18,000 contracts.  I can tell by looking at the numbers on the CME’s website, that it’s almost all of the high-frequency trading variety, so it’s obvious that these rallies are destined to go nowhere for the moment. I will be more than interested in seeing what the price action is like once New York starts to trade but, for the moment,  JPMorgan’s high-frequency traders are in complete control. See you tomorrow. Platinum and palladium were dancing to their own music yesterday, as they usually do, and here are their charts. Rub Elbows with Dr. Ron Paul, Doug Casey, and 24 Other Renowned Economic and Investment Experts We all know the value of networking when it comes to our careers. But it can be even more valuable to your portfolio. You can see for yourself at the Casey Research 3 Days With Casey Summit, to be held October 4-6 in beautiful Tucson, Arizona. Attend and you might run in to Dr. Ron Paul, who’s delivering the keynote address. Like many of the speakers, he plans to stick around for the entire three days (the Summit is that important). Or perhaps you’ll want to rub elbows with legendary contrarian investor Doug Casey… natural resource speculator extraordinaire Rick Rule… Solari Report Publisher Catherine Austin Fitts… Obamacare expert Dr. Elizabeth Vliet… or any of the other 21 financial and investment experts at the 3 Days With Casey Summit speakers. Click now for a comprehensive speakers list. Please don’t miss this rare opportunity meet and talk with some of the world’s foremost economic and investment experts. Seats are selling fast, so you need to reserve your spot now.last_img read more

Gold stocks just had their best day since the fina

first_imgGold stocks just had their best day since the financial crisis… On Friday, the VanEck Vectors Gold Miners ETF (GDX), which holds some of the world’s largest gold miners, surged 11.2%. It was its best day since October 2008. As you may know, gold miners are leveraged to the price of gold. A small jump in gold can cause gold stocks to soar. On Friday, the price of gold spiked 2.8%, which sparked the rally in gold stocks. Today, we’ll look at what caused this big jump… As you’ll see, it’s the latest sign that the U.S. economy may be headed for a recession… And it’s yet another reason you absolutely need to dedicate a portion of your portfolio to gold and gold stocks right now… • Last month, the economy added its fewest amount of new jobs in six years… According to the U.S. Labor Department, the economy created just 38,000 jobs in May—the fewest in one month over the past six years. According to Bloomberg Markets, economists expected 160,000 new jobs. Gold and gold stocks spiked on the news. The U.S. dollar fell 1.7%. And the S&P 500 closed Friday down 0.29%. • Jobs are getting more scarce… Bloomberg Markets reported on Friday: The report showed a broad hiring slowdown, including declines in payrolls in construction, manufacturing and mining. Job growth at private service producers slowed, with employment climbing by just 61,000… Friday’s report showed employment in the information sector dropped by 34,000. Millions of Americans have picked up part-time jobs to make ends meet. Bloomberg Markets added: Americans who are working part-time though would rather have a full-time position, or the measure known as part-time for economic reasons, climbed to 6.4 million in May, the highest since August, from 6 million a month earlier. And underneath the surface, other indicators are suggesting the economy is in bad shape… • The number of folks employed by “temp” agencies fell by 21,000 last month… Temp agencies place workers into temporary job assignments, such as seasonal work. Temp agencies are often the first to hire workers when the economy is growing. When the economy slows, they’re often the first companies to lay off workers. That’s why a surge in temp layoffs can be an early sign that the economy is struggling. • Temp agencies have laid off more workers than they’ve hired in four of the past five months… Today, the industry employs 64,000 fewer workers than it did at the start of the year. David Rosenberg, chief economist at wealth management firm Gluskin Sheff + Associates, warned that this is a major problem. He wrote in Business Insider: [T]his type of weakness over such a stretch, again not to sound like an alarmist, occurred just prior to economic recessions in the past, without exception and with no “head fakes”. Yes, it typically is not good news when the headhunters are the ones to start chopping off heads — this is a leading indicator. So I may not want to sound alarmist, but the answer is yes … I am worried. He continued: I don’t want to alarm anyone but the facts are the facts, and the fact here is simply that this is precisely the sort of rundown we saw in November 1969, May 1974, December 1979, October 1989, November 2000 and May 2007. Each one of these periods presaged a recession just a few months later — the average being five months. If you’ve been reading the Dispatch, you know the U.S. economy is barely limping along. The current “recovery” is the slowest since World War II. And it’s not just the U.S… Other major economies are in rough shape too. China, the world’s second-biggest economy, is growing at its slowest pace since 1990. Japan’s economy, the third biggest, hasn’t grown in two decades. • But perhaps the most concerning number comes from South Korea—the “canary in the coal mine” for the global economy… South Korea is one of the first countries in the world to report export data. And with more than 40% of its exports going to the U.S., China, and Japan, a significant drop in South Korean exports is often an early warning sign of trouble in the global economy. South Korean exports fell 6.0% in May. It was the 17th consecutive month in which exports have dropped. The sharp decline follows an 11.2% drop in April. You’ll Be SHOCKED if You Haven’t Seen This… If you haven’t seen this raw footage yet, we’re not sure why. In fact, we’d be shocked if you haven’t at least heard about it. That said, it is simply too important for you to miss. So just to be 100% sure you have a chance to see it… Please click here to view it now. • Over the last few months, we’ve covered lots of reasons why you should invest very cautiously right now… Corporate profits are tanking. The S&P 500 hasn’t set a new high in over a year. Some of America’s most iconic businesses are closing stores and laying off workers by the thousands. We’ve also been urging you to maintain a “defensive” portfolio—one that can withstand an economic shock like a stock market crash. That’s why E.B. Tucker, editor of The Casey Report, has been encouraging readers to own a significant amount of physical gold. Gold is one of the only assets that can do well during a financial crisis or recession. And as we often point out, gold is real money. It’s held its value for centuries because it has a unique set of qualities: It’s easily divisible, easy to transport, and durable. No matter where you go in the world, folks recognize its value. Gold is up 18% already this year. And as we’ve mentioned, it’s set to soar much higher in the months ahead. • For a limited time, Casey readers can get in on the cheapest way to buy gold coins we’ve ever found… Last month, E.B. worked out an exclusive deal with Gainesville Coins, one of the largest U.S. coin dealers. The company offers exceptional service and some of the industry’s lowest premiums…especially if you’re a Casey Research reader. If you’ve bought a gold coin, you know the “premium” is the fee gold sellers charge above the market price. Premiums vary from one gold dealer to another. The lower the premium, the better the deal. Now, for a limited time, you have an opportunity to purchase these coins at a HUGE discount to what other major brokers charge—including a one-ounce South African Gold Krugerrand for just $20 over the “spot” price of gold. Click here to see the full selection of special prices. Again, this offer is only for Casey readers, so make sure to take advantage while you still can. (Keep in mind, Gainesville Coins is not paying us a commission to recommend them. Instead of collecting a commission, we asked Gainesville to give Casey readers a special discount on gold coins.) • To increase your profits from investing in gold, consider buying gold stocks… E.B. expects gold to go much higher in the coming years. To profit from higher gold prices, he recommended two gold stocks earlier this year. One is up 47% since March. The other is up 34% since April. Those are huge gains for such short periods of time. And if gold continues to move higher as E.B. expects, these stocks should soar much higher. The average gold stock gained 602% during the 2000–2003 bull market. The best ones soared 1,000% or more. You should know that gold stocks aren’t for everyone. They’re incredibly volatile. As we saw on Friday, it’s common for gold stocks to move 10% or more in a day. But if you’re OK with taking on some extra risk, owning gold stocks is a great way to potentially earn big 2x or 3x profits in a short period of time. You can learn E.B.’s two favorite gold stocks by taking a risk-free trial to The Casey Report. By clicking this link, you’ll also get a chance to watch a short, free video where E.B. explains a huge threat looming in the American economy…and what you can do (in addition to buying gold) to protect your money. Watch it here. Chart of the Day U.S. companies are hiring at the slowest rate in years… Today’s chart shows how many jobs were created each month since February. As you can see, the number of new jobs has plummeted by around 200,000. This is not a sign of a healthy economy. If you don’t own gold yet, we recommend you buy some today. Another ugly jobs report could cause the price of gold to skyrocket. Regards, Justin Spittler Delray Beach, Florida June 6, 2016 We want to hear from you. If you have a question or comment, please send it to feedback@caseyresearch.com. We read every email that comes in, and we’ll publish comments, questions, and answers that we think other readers will find useful. Man Responsible for Video Warning Americans Returns to DC for Interview After his video detailing the truth about the Obama economy went nearly viral last year, this Maryland father of six was asked to come to DC to talk about it.  But what he said changes everything…center_img – — Recommended Linkslast_img read more