Judge denies Trump Org and Allen Weisselberg’s motion to dismiss tax fraud indictment

Judge denies Trump Org and Allen Weisselberg’s motion to dismiss tax fraud indictment

Judge Juan Merchan said he would grant a hearing to hear arguments over whether statements Weisselberg made while in custody the day of his arrest in July 2021 could be suppressed. The Manhattan district attorney’s office did not oppose the hearing but opposed the motion. Weisselberg and the Trump Organization were indicted last year on … Read more

Gold price jumps as US inflation cools a bit in July but key core metric pace remains unchanged

Gold price jumps as US inflation cools a bit in July but key core metric pace remains unchanged

(Kitco News) Gold rallied after inflation in the US cooled slightly in July, coming in at 8.5%, which is still close to its highest annual rate in four decades. The US Consumer Price Index (CPI) came in at 8.5% in July and was lower than the market expectation of 8.7%. The most recent data follows … Read more

John Heinzl’s model dividend growth portfolio as of July 31, 2022

John Heinzl’s model dividend growth portfolio as of July 31, 2022

John Heinzl’s model dividend growth portfolio as of July 31, 2022 Company Ticker No. of shrs Shr price $** Purchase Price $ Market Value $*** Book Value $*** Gain/Loss % Yield % Algonquin Power & Utilities Corp.* AQN-T 485 17.91 13.62 8,686.35 6,606.95 31.47% 5.18% BCE Inc.* ECB-T 80 64.70 57.97 5,176.00 4,637.70 11.61% 5.69% … Read more

CFTC charges World Series of Poker player with manipulating gold and silver markets

CFTC charges World Series of Poker player with manipulating gold and silver markets

(Kitco News) In another spoofing case, the Commodity Futures Trading Commission (CFTC) charged a Nevada metals trader who has a lucrative poker side-gig with spoofing the gold and silver futures markets. The CFTC said that Daniel Shak, who heads a small hedge fund SHK Management LLC, entered large orders for gold and silver futures that … Read more

Gold price in rally mode on latest geopolitical tensions but Friday’s jobs report could disrupt momentum – analysts

Gold price in rally mode on latest geopolitical tensions but Friday’s jobs report could disrupt momentum – analysts

(Kitco News) Gold breached the coveted $1,800 an ounce level Thursday on increased geopolitical tensions between the US and China. But the upcoming Friday’s employment report could disrupt momentum, according to analysts. December gold futures rose $33 on Thursday, touching a daily high of $1,812. At the time of writing, prices were at $1,808.20 an … Read more

Is this ‘weird’ time for gold finally over? Gold price is about to rally and now is ‘the perfect time’ to buy, says Jim Cramer

Is this ‘weird’ time for gold finally over?  Gold price is about to rally and now is ‘the perfect time’ to buy, says Jim Cramer

(Kitco News) CNBC’s Jim Cramer just updated his gold outlook, saying that now is the perfect time to get into the gold trade after what he described as a “bizarre period” for precious metals. Cramer shared the disappointment experienced by many gold bugs after gold failed to bring much-anticipated returns this year after peaking at … Read more

Gold price to drop to $1,650 by year-end but a revival is coming in 2023, says Capital Economics

Gold price to drop to ,650 by year-end but a revival is coming in 2023, says Capital Economics

(Kitco News) Despite this week’s gains, gold is still likely to drop to $1,650 by the year-end before staging a recovery, according to the latest forecast from Capital Economics. “Having fallen sharply in Q2, we think that the gold price is now close to a cyclical trough. What’s more, the price should revive a little … Read more

Warren Buffett has another reason to hate Robinhood

Warren Buffett has another reason to hate Robinhood

A recent paper by three academics may have made it more personal, though. At more than $440,000 per share, there typically isn’t a lot of trading activity around Buffett’s prized Berkshire Hathaway A (BRKA) stock: Between 2010 and 2020, an average of 375 shares were exchanged daily. Then, in February 2021, trading volume shot up … Read more

Gold price takes a step back after Fed speak

Gold price takes a step back after Fed speak

(Kitco News) The gold market’s price action is taking a breather following hawkish commentary from the Federal Reserve speakers, with prices pulling further away from the $1,800 an ounce target. The gold price jumped to a daily high of $1,805 an ounce Tuesday morning, led by increased geopolitical tensions as House Speaker Nancy Pelosi landed … Read more

Why China-Taiwan tensions moved to the forefront of financial market worries

Why China-Taiwan tensions moved to the forefront of financial market worries

It’s an island off the coast of China, with a land area comparable to Maryland and Delaware combined. Its population is about 1 million higher than that of Florida. Often overlooked in world headlines, Taiwan is grabbing the financial market’s attention as the biggest macro risk of the day, prompting many traders and investors to … Read more