Here's Why Stocks And Bitcoin Are Down

Posted on by Wayne Burritt

First off, I don’t have to tell you that if you've invested in the stock market, the last couple of months has been downright terrible.

In fact, since the beginning of the year, major stock indexes of every ilk are down. Take a look:

Stocks and Bitcoin

Source

As you can see from this chart, just about everywhere you turn, stocks are getting hammered. Since the beginning of the year, the S&P 500, a good proxy for the broader stock market, is down 16%, the Dow 30 is down 11%, and the tech-heavy NASDAQ is down a whopping 26%. No matter how you slice it, that’s awful. Continue reading "Here's Why Stocks And Bitcoin Are Down" →

Gold Suffers Its Fourth Straight Week Of Declines

Posted on by The INO.com Team

Editor’s Note: I will be speaking at an upcoming conference The Vancouver Resource Investment Conference in British Columbia on May 17 and 18. For more information please click the link above.

Gold opened at $1977 on Monday, April 18, and this would mark the beginning of four consecutive weekly declines. As of 5:10 PM EDT gold futures basis, the most active June 2022 Comex contract is fixed at $1810.30 after factoring in today’s decline of $14.30 or 0.78%. Today’s decline in gold occurred without the benefit of dollar strength. The dollar index declined by 0.36% and is currently fixed at 104.515

Kitco Gold Index (KGX)

The image above is a screen-print of the KGX (Kitco Gold Index) which was taken at 4:37 PM EDT. At that time spot gold was fixed at $1810.80 after factoring in a decline of $10.70. Market participants were active sellers resulting in a $14.30 price decline. Dollar weakness provided mild tailwinds adding $3.60 (+0.20%) in value. Continue reading "Gold Suffers Its Fourth Straight Week Of Declines" →

Bitcoin Falls For Its 6th Straight Week

Posted on by The INO.com Team

Bitcoin fought hard to stay around the 30K level on Friday but fell just below that level as the stock market closed on Friday, trading in the 29K range. Unfortunately, it was also unable to escape the crypto bears grip this week, trading as low as 25,401.05, and will end up having its sixth straight week of declines, a record run. The last time it traded this low was in December of 2020.

As for stocks, the market rebounded Friday after suffering heavy losses on the week, with the DOW rising 466.36 points to 32,196.66, or +1.47%. The S&P 500 gained +2.39% to close at 4,023.89, and the NASDAQ jumped +3.82% to end the week at 11,805.00. Continue reading "Bitcoin Falls For Its 6th Straight Week" →

Three Gold Miners To Buy On Dips

Posted on by Taylor Dart

It’s been an ugly week for the major market averages, with the S&P 500 (SPY) continuing its violent decline from its Q1 highs. Prior to this week, the Gold Miners Index (GDX) was a sanctuary from the turbulence, but when the market heads past the 15% correction mark, few stocks are sheltered from the turbulence. While this has been painful for investors that chased miners in early Q2 near their highs, this is set up an excellent buying opportunity for patient investors. So let’s look at a few names in the GDX where the selling looks to be overdone:

GDX Gold Index

Source: TC2000.com

Over the past month, we’ve seen several gold miners slide more than 25% from their highs, and in many cases, these corrections are entirely justified. This is because several producers have weak balance sheets and high costs, making them very sensitive to weakness in the metal price and rising interest rates. However, when it comes to names like SSR Mining (SSRM), Yamana Gold (AUY), and Barrick (GOLD), which are sitting in net cash positions or expect to be net-cash positive by Q4, the recent pullback makes little sense, especially given that they’re some of the best operators sector-wide. Continue reading "Three Gold Miners To Buy On Dips" →

U.S. Records Another Record For Retail Gasoline

Posted on by Tim Snyder

“The following is an excerpt from Tim Snyder’s “Weekly Quick Facts” newsletter. Tim is an accomplished economist with a deep understanding of applied economics in energy. We encourage you to visit Matador Economics and learn more about Tim. While there, you can sign up for his completely free Daily Energy Briefs and Weekly Quick Facts newsletters.”

Last week’s jump in retail gasoline gives the US another dubious record, the highest average price ever recorded. Diesel is tracking back into record territory, as well. Families and businesses alike across the country feel the pain of these economy-killing prices continuing to spike. In interviews across the US, economists are being asked how much higher can these prices rise. The answer is always sobering.

Gasoline Prices

With no intention of changing the direction the Biden Administration is heading, some are speculating that we may see diesel over $8.00 per gallon and gasoline over $6.00 per gallon by Mid-Summer.

We must remember that this time of year represents planting season for our nation's farmers and graduation for so many of our young folks. It also represents the beginning of the “Drive Season” and a time when families travel for vacation. Continue reading "U.S. Records Another Record For Retail Gasoline" →