Record high price of gold

Share to Twitter Share to Linkedin There’s still no break in sight for high new-car prices , which are on pace to set another record in May, with interest rates also on the increase, according to a joint forecast from J.D. Power and LMC Automotive. The average new-vehicle transaction price is expected to reach a record for the month of May of $44,832, the May 25 forecast said. That’s a staggering increase of $6,577, or about 16%, vs. the estimate for May 2021. What’s driving record-high prices is the ongoing computer chip shortage , which is limiting new-vehicle production. Forecasters for J.D. Power and LMC Automotive expect new-vehicle sales of about 1.2 million cars and trucks in May, down 18% vs. May 2021, based on the estimated daily selling rate. Thomas King, president of the data and analytics division at J.D. Power, said in the forecast that month-end inventory for May is expected to be below 1 million cars and trucks total. … [Read more...] about Add Higher Interest Rates, On Top Of Record-High Prices For New Cars And Trucks

The Biden administration appeared to reverse its previous position that it wouldn’t consider an oil export ban Tuesday. “I can confirm the president is not taking any tools off the table,” Energy Secretary Jennifer Granholm remarked, Reuters reported. “If you had a ban on crude oil exports, because you’re cutting off supply to the global market, you are going to have higher global crude prices and higher global refined product prices that would be fed through here,” said Garrett Golding, a business economist tasked with analyzing energy markets at the Federal Reserve Bank of Dallas. Energy Secretary Jennifer Granholm said the administration hasn’t ruled out a petroleum export ban Tuesday, an apparent reversal of its previous position on the policy. Granholm’s comments appeared to suggest President Joe Biden was open to both an oil export ban and export ban on refined products like gasoline or diesel fuel. The energy secretary promised in December that a crude oil export … [Read more...] about CRUDE FLIP-FLOP: Biden’s Energy Sec Now Open To Oil Ban, But Will It Actually Lower Gas Prices?

Share to Twitter Share to Linkedin Topline New home sales unexpectedly plunged much more than economists projected—and for the fourth consecutive month—in April, according to data released Tuesday, adding to signs that the once booming housing market could be due for a steep turnaround. Key Facts About 591,000 new single-family houses were sold last month on a seasonally adjusted annual basis, plunging 16.6% below the March rate of 709,000 and falling sharply below analyst projections of 750,000, the Census Department reported on Tuesday. "In short, the party is over," Pantheon Macro chief economist Ian Shepherdson said in emailed comments after the report, pointing out the collapse in sales follows a "steep downward trend in mortgage applications" as mortgage rates start to rise on the heels of the Federal Reserve interest rate hikes that started in March. The monthly payment required to buy a home has risen by about 50% since … [Read more...] about Housing Market Boom ‘Is Over’ As New Home Sales Implode–Here’s What To Expect From Prices This Year

As the S&P 500 trades near record highs in 2019, Goldman Sachs says that a select group of reasonably priced, high-ROE growth stocks will lead the market in the coming months. These include: Baker Hughes ( BHGE ), which has expected ROE growth in the next 12 months of 47%, followed by MGM Resorts Intl. ( MGM ) 42%, Iron Mountain Inc. ( IRM ) 41%, Macerich Co. ( MAC ) 40%, Devon Energy Corp. ( DVN ) 41%, Newmont Goldcorp ( NEM ) 31% and Nordstrom Inc. ( JWN ) 31%. This is the first of two articles in which Investopedia will look at Goldman's picks. 'Challenging' Outlook for ROE Goldman says this superior performance will occur despite major pressure on ROE at most companies. "While stocks with low volatility and strong balance sheets still trade more than 2 standard deviations expensive relative to the past 10 years, stocks with high returns on capital carry more reasonable valuations," said Goldman in its latest US Weekly Kickstart report. "We expect investors … [Read more...] about 7 High ROE Stocks With Upside Amid Richly Valued Market

The ascent of the S&P 500 Index (SPX) to one record high after another might look, on the surface, as a breakout of irrational exuberance among investors. But the opposite is occurring as investment managers become increasingly bearish. Only 49% of the 148 professional money managers recently surveyed have a bullish view of the market over the next 12 months, down from 56% in a fall 2018 survey. This is the first time that the bulls have been in the minority since the fall of 2016, according to the spring 2019 release of Barron's Big Money Poll . It's also notable that 70% of respondents believe that stocks are fairly valued today, the highest percentage in nearly five years. “It’s difficult to get excited about the sustainability of a market rally that consists of expanding valuations in a slowing or declining earnings environment,” as Marc Dion, chief investment officer (CIO) at Wisconsin-based Morgan Dempsey Capital Management, told Barron's. Ingrid Hendershot, … [Read more...] about Bulls’ Ranks Fall to Lowest in 3 Years as Stocks Hover Near Highs

- A + A KUALA LUMPUR (May 26): Kenanga Research has maintained its Underperform (UP) rating on Supermax Corporation Bhd at RM1.03 with a lower target price (TP) of 75 sen (from 90 sen) and said Supermax’s 9MFY22 PATAMI of RM699 million (-76% y-o-y) came in at 89%/91% of house/consensus full-year forecast. In a note on Thursday (May 26), the research house said it considers the results to be below expectations due to the lower-than-expected margins in 3QFY22. “We highlight that the sharp fall in margin in 3QFY22 due to its overseas distribution unit having to sell high-priced inventory at falling market prices could impact the next two quarters. “Earnings in subsequent quarters are expected to be impacted by: (i) potential revenue loss from US CBP WRO which accounts for 20% of sales, and (ii) impact from one-off prosperity tax in FY22. “This prompted us to downgrade our FY22E/FY23E net profit by 21%/17%. “Our TP is reduced from RM0.90 to RM0.75 based on 11x … [Read more...] about Kenanga lowers target price for Supermax to 75 sen

Economic and political volatility has spiked in early 2021, and many investors are now looking for asset classes that could act as potential hedges over the weeks and months ahead. One segment of the financial markets that could capture the attention of investors is precious metals such as gold. Based on the patterns that we will discuss below, the proximity to influential levels of support makes an interesting case for physical gold as well as those companies that focus on gold mining. Key Takeaways Spot gold prices are trading near major levels of support. Active traders could turn to exchange-traded funds (ETFs) such as the SPDR Gold Shares ( GLD ) in anticipation of a bounce higher. Small-cap gold mining companies such as Yamana Gold Inc. ( AUY ) are strongly correlated to shifts in gold prices, which suggests that this group could be of interest over the days and weeks ahead. The SPDR Gold Shares (GLD) Investors interested in gaining exposure … [Read more...] about Chart Patterns Suggest Gold Prices Are Headed Higher

- A + A (May 25): Pfizer Inc plans to sell its entire portfolio of brand-name drugs at cost in as many as 45 lower-income countries, one of the most comprehensive and ambitious drug-access programs ever announced by a large pharmaceutical manufacturer. The initiative will start in five African countries with 23 drugs for cancer, rare illnesses, inflammatory conditions and infectious diseases. It will eventually include all of the New York-based company’s future therapies or vaccines. The drugs will be sold at the cost of manufacturing, Pfizer said, typically a fraction of their price in US or European markets. The company also plans to invest in local health systems to improve diagnostic capabilities, get the drugs approved and make sure doctors know how to administer them. Throughout the pandemic, the company has sold its Covid-19 vaccine in lower-income countries for about US$7 a dose, near where it puts the cost, compared with US$19.50 in the US. For Covid and … [Read more...] about Pfizer slashes drug prices for poorest nations, expanding access

First Solar, Inc. ( FSLR ) stock surged to a two-year high last week after the company beat second quarter 2020 estimates by a wide margin, posting a profit of $0.35 per share on a 9.8% revenue increase to $642.41 million. The sale of a key project underpinned quarterly revenue, with the solar manufacturer and installer realigning business priorities after years of weak performance. It announced a second divestiture at the time of the release, highlighting this ongoing strategy. Key Takeaways First Solar stock could enter a multi-year uptrend, benefiting from the transition into renewable energy sources. The rally has reached long-term resistance , raising the odds for a pullback. Price action could ease into a holding pattern ahead of the November election. The company is well positioned to thrive and prosper throughout this decade, with the transition from fossil fuel to alternative energy sources picking up steam around the world. Closer to home, First Solar … [Read more...] about First Solar (FSLR) Rallies to 2-Year High

Ms Rungtip says AIS is committed to supporting the country's e-sports industry to be on par with international tournament standards. SET-listed Advanced Info Service (AIS) is set to organise Thailand's first high school e-sports competition on a national level through collaboration with partners to promote the country as the e-sports hub in Asean. The country's biggest mobile operator is working with Dutch Mill dairy and Belink Media, an out-of-home media service operator, for the tournament dubbed AIS eSports S Series 2022. The competition is expected to draw 5,000 players from around 1,000 participating teams and 100 schools. The project enables AIS to catch the surging wave of the country's gaming market. Last year, AIS's eSports S series event, which focused on Bangkok schools, succeeded in gaining 2 million viewers, 455 participating teams and eight schools. Arena of Valor (RoV), a popular online game, was chosen for the 2022 competition. In the SEA Games, which … [Read more...] about AIS hosts high school contest