Precious metals have had to endure a week of gathering dollar strength, which is at least partly the result of problems specific to the euro, yen and sterling. The result is gold has fallen a further $30 over the week, and silver by about $0.70c. The first chart is of gold and open interest on Comex.
Once breaking through its eight year declining trend from 1989 to 1997, the dollar rallied 50% until finally peaking with the tech bubble. Should the USD break out this time around, it is quite likely to have a strong bullish run going forward.
Tech sites are buzzing right now about the new Apple smartwatch and iPhone. Having been a part of or close to the tech industry for a long time, the excitement that builds over new products doesn’t normally move me much.
As part of our ongoing emphasis on tech innovations, we’ll mention a few stories that have caught our eye recently. Some are obviously tech-related, others less so. We continue to believe that such innovations — and the entrepreneurs who bring them from concept to reality...
Ongoing tensions in Ukraine have recently settled with a ceasefire deal and Russian troops also pulling back from the area. This is certainly a positive development, though many still wonder whether we are witnessing the beginnings of a new Cold War or worse between Russia and the West.
The beginning of the new school year heightens the anxiety over the rising cost of higher education. The cost of a college education is increasingly beyond the means of average American family. Tuition has risen faster than inflation, student debt has soared and jobs are difficult to secure.
A referendum on Scotland’s independence, due to be held next week, could see Scotland leaving the union after 300 years of membership. Fiercely contested between the pro-independence campaign of Scotland’s nationalist party...
All the chatter from the Fed about interest rate levels, forward guidance, tapering, etc. is largely noise. In a consumption driven economy, wage growth is the accelerant of consumption growth, not rising equity and real estate prices through the illusory "wealth effect".
U.S. President Barack Obama said recently that he had no strategy as yet toward the Islamic State but that he would present a plan on Wednesday. It is important for a president to know when he has no strategy.
I will tell you there has only been one false signal from Dow Theory (DT) over the past 15 years and that was a false “sell signal” generated by the Flash Crash in May of 2010; and, that was quickly reversed with a “buy signal.”