Diamond News Archives
- Category: News Archives
- Hits: 758
...
The previous stone weighed in at 24.98 carats and sold for $190,000. "I am highly encouraged by the recovery of yet another significant stone which is of a similar quality to a number of other larger stones that we have recovered recently," said Mike Houston, BlueRock Diamonds executive chairman." The latest find will be sold at the company's upcoming October tender.BlueRock Diamonds recently sold a 10.6-carat stone for $103,000 at its September tender. This was the six stone the company has sold this year for over $50,000, realising a total sales price of $600,000 for these six stones.- Category: News Archives
- Hits: 1209
Gold Recovers to $1502 After Earlier Sharp Selloff to $1487 - Gold Today September 27, 2019
Jim Pogoda, Senior Gold Trader, Gold Bullion International
Overnight – gold tumbles to $1491 against upbeat comments from China on US-Sino trade prospects, Saudi ceasefire in Yemen
· Gold traded lower last night, sliding in a range of $1507 - $1491.
· It edged up to its $1507 high during Asian hours against a modest pullback in S&P futures (-8 to 2972) and a slight softening in the US dollar (DX to 99.14).
· The yellow metal tumbled during European time, tripping stops below key support at $1502 (up trendline from 5/30 $1275 low) and then $1501 (double bottom - 9/25 and 9/26 lows), $1500 (psychological level, options), $1498 (9/20 low) to reach $1491.
· Gold was pressured by a rebound in S&P futures (+12 to 2992) and a move higher in the US 10-year bond yield (1.687% - 1.725%).
· Stocks were lifted by positive comments from Chinese Foreign Minister Wang Yi (hopes for continued momentum after recent goodwill gestures, talks can progress if both sides are proactive, with talks set to resume Oct 10-11 in Washington), along with the Saudis announcing a partial ceasefire in Yemen (WTI oil plunged from $56.61 - $55.57).
· A rebound in the DX (99.31 – 3 week high) during early European was also a headwind for gold, lifted by weakness in the pound ($1.2335 - $1.2271, BOE’s Saunders says next move could be a rate cut even if no-deal Brexit is avoided) and the euro ($1.0923 - $1.0907, fresh 28-month low, weak German Import Prices).
· ...
- Category: News Archives
- Hits: 775
HTTP/2 200 cache-control: public, max-age=1800 content-language: en content-type: text/html; charset=utf-8 etag: W/"1569610916-0" expires: Sun, 19 Nov 1978 05:00:00 GMT last-modified: Fri, 27 Sep 2019 19:01:56 GMT link: ; rel="image_src",; rel="canonical",; rel="shortlink" server: nginx x-drupal-cache: HIT x-frame-options: SAMEORIGIN x-generator: Drupal 7 (http://drupal.org) x-pantheon-styx-hostname: styx-fe1-a-5cd8fd6694-wmk2l x-styx-req-id: 6061ce2c-e15d-11e9-893b-0642cbe82d89 date: Fri, 27 Sep 2019 20:00:05 GMT x-served-by: cache-mdw17344-MDW, cache-yul8924-YUL x-cache: HIT, HIT x-cache-hits: 1, 1 x-timer: S1569614406.501871,VS0,VE2 vary: Accept-Encoding, Cookie, Cookie age: 1728 accept-ranges: bytes via: 1.1 varnish content-length: 141451
...
As the chart shows, the (effective) fed funds rate was in this range back during the early 2000s, which helped spawn the housing bubble and bust (as I predicted in this Mises.org article[2] which ran 11 months before the financial crisis). Before then, we have to- Category: News Archives
- Hits: 811
HTTP/2 200 server: nginx date: Fri, 27 Sep 2019 16:00:05 GMT content-type: text/html; charset=UTF-8 content-length: 52311 vary: Accept-Encoding, Cookie cache-control: max-age=3600, public x-ua-compatible: IE=edge content-language: en x-content-type-options: nosniff x-frame-options: SAMEORIGIN expires: Sun, 19 Nov 1978 05:00:00 GMT last-modified: Fri, 27 Sep 2019 15:49:00 GMT etag: W/"1569599340" x-backend-server: drupal-7f4db79fd7-7gzrj age: 664 varnish-cache: HIT x-cache-hits: 1123 x-served-by: varnish-1 accept-ranges: bytes ...
Yuan, Stocks Slammed As US Weighs Limits On Portfolio Flows From China | Zero Hedge Skip to main content [1]References
- ^ Skip to main content (www.zerohedge.com)
- Category: News Archives
- Hits: 753
(Bloomberg Opinion) -- The repo market madness lives on for a ninth day.
The Federal Reserve Bank of New York announced Wednesday that it would increase the size of its next overnight system repurchase agreement operation to a $100 billion maximum, from $75 billion previously, and also raise the limit on its 14-day term repo operation to $60 billion from $30 billion. Simply put, the bank wants to flood the funding market with enough cash to soak up all the securities that dealers submit(1)and leave no doubt that the critical financial-system plumbing is in fine working order ahead of the end of the quarter.
By now, just about everyone has heard the explanations for this persistent liquidity squeeze, which has lasted long enough to refute the earlier notion that it was merely a one-day confluence of unfortunate events. To some, the main structural issue is that banking regulations are disrupting the financial system’s inner workings. Others say the Fed has simply found the lower bound for reserves necessary to control short-term rates and can move forward accordingly.
In addition to those two assessments, I’d offer another angle that’s largely flown under the radar: The chaos in repo markets was a long time coming given the widening U.S. budget deficits and the lenders that are financing that shortfall.
Deficits, while nothing new, add up over time. And while they declined each year from 2011 through 2015, both overall and as a percentage of gross domestic product, the gap has widened again under President Donald Trump. Put it all together, and the amount of U.S. Treasury securities outstanding has roughly tripled since the financial crisis:
This growth was mostly under control in the years after the financial crisis because the Fed had been buying up large chunks of the Treasury market through its quantitative easing...