As we can see in the H4 chart, the ascending tendency continues. By now, XAUUSD has completed several reversal patterns, including Hammer, close to the support level. At the moment, the pair is reversing and may later grow towards 1475.50. At the same time, we shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling towards 1445.50.
NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After forming several reversal patterns, including Doji, near the support level, NZDUSD has reversed; right now, it is moving in the middle of the channel. Later, the market may complete another slight correction, which may later be followed by further growth to reach 0.6455. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may fall towards 0.6385 and test the channel’s downside border.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The EUR/USD currency pair is in a flat. The local support and resistance levels are 1.10050 and 1.10300, respectively. Investors expect additional drivers. The spotlight is on the US deal with China. It became known that Vice Premier of the State Council of the PRC Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steve Mnuchin reached an agreement on solving the problems during a telephone conversation. Open positions from these levels.
The Economic News Feed for 26.11.2019:
– CB Consumer Confidence Index (US) – 17:00 (GMT+2:00).
– Primary Real Estate Sales (US) – 00:00 (GMT+2:00);
The price fixed below 50 MA and 100 MA, which signals the strength of sellers.
The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.
The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.10050, 1.09900
Resistance levels: 1.10300, 1.10550, 1.10800
f the price consolidates above1.10300, expect the quotes to rise toward 1.10550-1.10700.
Alternatively, the quotes could descend toward 1.09800-1.09600.
The GBP/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.28515
Open: 1.28982
% chg. over the last day: +0.35
Day’s range: 1.28668 – 1.28824
52 wk range: 1.1959 – 1.3385
Yesterday, the GBP/USD currency pair began to win some losses back. The British pound has moved to growth. However, today GBP/USD quotes are again falling. The technical pattern is ambiguous, investors expect additional drivers. At the moment, the trading instrument is testing the support level of 1.28700. The key resistance level is 1.29000. Open positions from them.
The Economic News Feed for 26.11.2019 is calm.
Indicators do not give accurate signals: the price is trading between 50 MA and 100 MA.
The MACD histogram is close to 0.
The Stochastic Oscillator is near the oversold zone, the %K line crosses the %D line. There are no signals at this time.
Trading recommendations
Support levels: 1.28700, 1.28400, 1.28100
Resistance levels: 1.29000, 1.29250, 1.29550
If the price consolidates above 1.29000, expect the quotes to rise toward 1.29250-1.29550.
Alternatively, the quotes could descend toward 1.28400-1.28100.
The USD/CAD currency pair
Technical indicators of the currency pair:
Prev Open: 1.32828
Open: 1.32954
% chg. over the last day: -0.17
Day’s range: 1.32698 – 1.32882
52 wk range: 1.2727 – 1.3664
The USD/CAD currency pair is still being traded in a flat. There is no defined trend. The local support and resistance levels are 1.33000 and 1.33200, respectively. USD demand is recovering due to news of the likely conclusion of the first stage of the US-China agreement. We expect the release of important statistics. Open positions from key levels.
The Economic News Feed for 26.11.2019 is calm.
Indicators point to a bullish sentiment: the price is trading above 50 MA and 100 MA.
The MACD histogram is in the positive zone and continues to rise, which gives a strong signal to buy USD/CAD.
The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.
Trading recommendations
Support levels: 1.33000, 1.32800, 1.32600
Resistance levels: 1.33200, 1.33350
If the price consolidates above 1.33200, expect the quotes to rise toward 1.33350-1.33500.
Alternatively, the quotes can descend toward 1.32800-1.32600.
The USD/JPY currency pair
Technical indicators of the currency pair:
Prev Open: 108.660
Open: 108.923
% chg. over the last day: +0.25
Day’s range: 108.879 – 108.965
52 wk range: 104.97 – 114.56
During yesterday’s trading, bullish sentiment was observed on the USD/JPY currency pair. The trading tool has updated local highs. At the moment, USD/JPY quotes are consolidating in the range of 108.850-109.100. Demand for safe haven currencies has weakened against the backdrop of the prospects for resolving a trade conflict between Washington and Beijing. We recommend you to pay attention to the dynamics of yield on US government bonds. Open positions from key levels.
The Economic News Feed for 26.11.2019 is calm.
Indicators point toward a bullish sentiment: the price is trading above 50 MA and 100 MA.
The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/JPY.
The Stochastic Oscillator is in the oversold zone, the %K line crosses the %D line. There are no signals.
Trading recommendations
Support levels: 108.850, 108.650, 108.450
Resistance levels: 109.100, 109.300
If the price consolidates above 109.100, expect the quotes to rise toward 109.300-109.500.
Alternatively, the quotes could descend toward 108.650-108.450.
During yesterday’s trading, the US dollar strengthened slightly against a basket of currency majors. The dollar index (#DX) closed in the green zone (+0.06%). Trade negotiations between the US and China are still in the focus of attention. It became known that Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Secretary of the Treasury Steven Mnuchin reached an agreement on resolving core issues. These events caused a decrease in demand for safe haven currencies. We recommend following the current information.
Fed Chairman Jerome Powell said the regulator planned to keep interest rates unchanged. It should be recalled that this year the Central Bank reduced the range of key interest rates three times. At the moment, the indicator is at the level of 1.50%-1.75%. British Prime Minister Boris Johnson promised to submit a Brexit deal to Parliament before Christmas. Today, financial market participants will assess important economic releases from the US.
There is the bullish sentiment in the “black gold” market. Currently, futures for the WTI crude oil are testing the $58.05 mark per barrel.
Market Indicators
Yesterday, the major US stock indices closed in the positive zone: #SPY (+0.78%), #DIA (+0.70%), #QQQ (+1.18%).
The 10-year US government bonds yield has been declining. At the moment, the indicator is at the level of 1.74-1.75%.
The Economic News Feed for 26.11.2019:
– CB consumer confidence index in the US at 17:00 (GMT+2:00).
Every country in the world has their own opinion when it comes to cryptocurrencies. Some countries have wholeheartedly accepted blockchain technology and cryptocurrencies, while others shun it. India for example, has banned the use of cryptocurrencies altogether! There are some countries which happily embrace Bitcoin, and recognize the many benefits it can bring, while others are not ready to adapt the cryptocurrency yet (or probably never!). Bitcoin is the most popular cryptocurrency out there, and there is no question that its popularity will continue to grow with time.
Funnily enough, 10,000 Bitcoins were worth the equivalent of two Papa John’s pizza on the 22nd of May, 2010, and Bitcoin is worth $7,118 as of the 25h of November, 2019! If we look at Europe as a continent, several European countries have adopted Bitcoin, and Europe has a positive approach overall, when it comes to Bitcoin and the possible Bitcoin revolution that might come with it. In fact, several Governments have legalized Bitcoin and other cryptocurrencies. Which are the most Bitcoin-friendly European countries though? Let’s find out!
Malta
Known as the ‘Mecca of Gambling’, no wonder Malta has emerged as the most Bitcoin-friendly European country! It makes perfect sense, as Bitcoin, and other cryptocurrencies are making an impact in the gambling sector. Malta has emerged as one of the most progressive cryptocurrency countries in Europe, and hosts several blockchain-related events, and summits. Malta has formed the Malta Digital Innovation Authority (MDIA), to welcome blockchain and cryptocurrency businesses to the fore – to setup projects and establishments in Malta.
Estonia
The home of the popular app Skype, Estonia is a Northern European country that embraced Bitcoin much earlier than several other countries in Europe. The Government of Estonia is a keen supporter of Bitcoin, and its applications, as well as blockchain technology as a whole. As blockchain technology is expanding to several sectors, including health and tourism, the Government of Estonia wants to use Bitcoin to their advantage – in health care and banking.
In fact, Estonia also plans on developing their own cryptocurrency in the future, as is the case with some other countries around the world. In a practical move to say the least, and profits obtained on Bitcoin in Estonia are taxable. This essentially means that these deductions are pumped back into the Government.
Switzerland
Switzerland too, has fully embraced blockchain technology, cryptocurrencies, and foremost, Bitcoin. As Switzerland is not a part of the European Union, it gives them an edge over other countries. The Government is pro-Bitcoin, and this has led to some dubbing the country ‘CryptoValley’. Several top blockchain and Bitcoin companies find their home in the beautiful country of Switzerland. The country is also a haven for traders, if they are willing to pay capital gains tax that is (another smart strategic move!). Do not forget to gorge on Swiss chocolate when you are in Switzerland!
Belarus
Belarus as a country are big believers in cryptocurrencies, blockchain technology, and most importantly, Bitcoin. They legalized Bitcoin and some other cryptocurrencies in 2017, when Bitcoin peaked in price and popularity. The step was taken by the President of Belarus, Alexander Lukashenko, and it has paid dividends. Proving to have been a right move, Belarus openly encourages cryptocurrency-based businesses to set up camp in Belarus, and start/expand their businesses.
What’s more, unlike some other countries mentioned on this list, mining, trading and capital gains are tax-free until 2023! Belarus presents the perfect opportunity to pitch up in the country, if you own a cryptocurrency-based business, or plan on starting one soon. This also sets it up nicely to be placed higher on the list, in years to come.
Slovenia
Slovenia is a Central European country, which is home to several respected Bitcoin exchanges. Its exchanges have put it on the radar of many cryptocurrency enthusiasts and experts. In fact, a town in Slovenia called Krani, is home to the world’s first Bitcoin monument, such is the Bitcoin frenzy in Slovenia. This goes on to show how appreciated the coin is in the country, and its acceptance. The Government has been pushing on the message that they are Bitcoin-friendly, since 2017. Slovenia is open to welcoming cryptocurrency start-ups and cryptocurrency-based businesses. Slovenia aims at being a blockchain leader, and they are certainly on the right track.
Conclusion on the most bitcoin-friendly European countries
Bitcoin is more likely than not to be accepted in a whole host of other European countries in years to come. Once touted as a bubble which will not survive the trial time presents, blockchain technology has stood tall, with Bitcoin standing as its proudest exponent. As of now, the above mentioned countries are the most Bitcoin-friendly European countries, but I wouldn’t bet on this remaining the same in the future! With the rise in blockchain powered movements and projects, like a Veganism-based ecosystem, expect more countries to jump aboard the cryptocurrency wagon.
About the Author:
Michael is an experienced financial trader using Forex, Commodities and Cryptocurrencies. In addition to trading, he runs businesses, trains traders and develops trading technology products. His other passions are boxing and traveling.
On Monday the 25th of November, the euro finished five points down come the end of trading. The single currency was pushed down to the 1.10 mark by a buoyant GBP. At the end of the day, the GBPUSD pair finished up by 70 points. The driving force behind the pound’s strength has been the positive news coming out of Westminster as regards the upcoming UK General Election. The Conservatives are confidently ahead in the latest polls, and this helps to reduce feelings of uncertainty towards the future within the industry.
Monday was a slow day, as underlined by yesterday’s relatively scarce economic calendar. As a result, the consolidation range moved from 1.1023 to 1.1010. With that said, let’s move on to the technical analysis.
Day’s news (GMT+3):
12:30 UK: BBA Loans for House Purchase (Oct).
16:30 USA: Advance Goods Trade Balance (Oct).
17:00 USA: S&P/Case-Shiller US Home Price Index (Sep).
21:00 USA: Fed’s Brainard Discusses Policy Framework Review, U.S. to Sell 2-Year FRNs Reopening, U.S. to Sell 5-Year Notes.
Current situation:
Our expectations for the “Monday vs. Friday” movement failed to materialise. The latest political news out of the UK increased interest in the British pound. As a result of these events, the single currency found itself under pressure and trades passed under the 67th degree marker (Gann level).
Improved US-China relations brought an upturn in market sentiment in both the stock markets, and in pairs containing risky assets. The “bullish” mood did not alter the EURUSD pair’s technical picture, which remained “bearish“.
How should you act in this situation? Well, if you do not understand what is happening on the market, then reduce the risk factor of your transactions, or wait for another market situation to arise.
The price is below the balance line (LB), which goes through 1.1029. If a channel is constructed by correction, then its upper line meets the LB at 1.1030. Since the stochastic on 4H and 8H is looking up, we can allow a breakthrough to the LB. Disagreements between timeframes (TF) are set to be a key factor today. The older the TF, the stronger the effect.
But, also bear in mind that changes in the younger TFs also influence the situation with the older TFs. For example, if negative changes take place at the cellular level, then most likely your condition and mood will change for the worse, due to poor health. Since the stochastic on the hourly TF is on top, we might even dare to consider a fall to 1.0990 – the bottom line of the channel.
Global equity bulls welcome fresh trade talk momentum
Dollar searches for new directional catalyst
Gold weighed by risk-on sentiment
A wave of positivity is sweeping across financial markets on renewed signs of momentum in trade talks between the United States and China.
Stocks in Asia pushed higher on Tuesday, elevated by Wall Street’s record closing highs overnight as investors became increasingly optimistic over the signing of the “phase one” trade deal on the horizon. Given how China’s Ministry of Commerce has stated that Beijing and Washington “reached consensus on properly resolving relevant issues” during a telephone conversation on Tuesday morning Beijing time, the is some light at the end of the trade war tunnel. However, market players should stay alert, especially when factoring the unpredictable nature of the trade talks. If the two largest economies in the world are unable to find a middle ground before the December 15th deadline when US tariffs are set to increase by 15%, trade tensions may intensify.
Dollar on standby ahead of consumer confidence data
The US Dollar struggled for direction Tuesday in Asia after Federal Reserve Chairman Jerome Powell hinted that the Federal Reserve is unlikely to cut interest rates anytime soon. With the central bank pausing on further monetary policy easing, the Dollar will be influenced by trade developments and economic data from the United States. This means investors will direct their attention towards the CB Consumer confidence report scheduled for release on Tuesday afternoon. Appetite towards the Dollar is likely to receive a boost if the report exceeds market expectations. With regards to the technical picture, the Dollar Index has the potential to test 98.50 in the near term if 98.20 proves to be reliable support.
Commodity spotlight – Gold
Gold remains one of the casualties of trade talk optimism and improving global sentiment. The precious metal is likely to depreciate further on fresh signs of the United States and China signing a “phase one” trade deal. Nevertheless, there is still hope for bulls to make a return if both sides are unable to come to an agreement before the December tariff deadline. Focusing on the technical picture, Gold is under pressure on the daily charts thanks to the improving market mood. A solid daily close below the $1450 support level could invite a decline towards $1430.
Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.
US stocks march to records was intact on Monday with investor optimism buoyed by US national security adviser Robert O’Brien Saturday comment that a “phase-one” deal between the US and China by the end of the year still appeared possible. The S&P 500 finished 0.75% higher at new record 3133.64. Dow Jones industrial advanced 0.7% to new record 28066.47. The Nasdaq rallied 1.3% to 8632.49. The dollar strengthening slowed as the Chicago Fed’s national activity index for October fell to a reading of negative 0.71, from negative 0.45 in the previous month. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.05% to 98.28 and is higher currently. Futures on US stock indices point to higher openings.
FTSE 100 still ahead other European indexes
European stock indexes extended gains on Monday with positive German data providing their support. The slide of EUR/USD was intact while GBP/USD turned higher yesterday with both pairs reversing currently. The Stoxx Europe 600 index ended 1.1% higher led by travel and leisure shares up 2.0%. The DAX 30 gained 0.6% to 13246.45 as Ifo business climate index’s gain indicated German business sentiment improved in November. France’s CAC 40 advanced 0.5% while UK’s FTSE 100 rose 0.95% to 7396.29.
Australia’s All Ordinaries Index leads Asian indexes gains
Asian stock indices are mostly higher today. Nikkei extended gains 0.4% to 23373.32 as yen’s decline against the dollar slowed. Markets in China are mixed after Beijing announced new stronger guidelines for protecting intellectual property rights. The Shanghai Composite Index is up 0.1% and Hong Kong’s Hang Seng Index is 0.1% lower. Australia’s All Ordinaries Index added 0.8% despite resumed Australian dollar’s climb against the greenback.
Note: This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
EyeGate Pharmaceuticals shares opened nearly 85% higher today after the company reported select topline data demonstrating that it met its primary endpoint in its cornea wound repairs pivotal photorefractive keratectomy study using the firm’s Ocular Bandage Gel eye drop.
This morning, late-stage clinical specialty pharmaceutical company Eyegate Pharmaceuticals Inc. (EYEG:NASDAQ), which is focused on developing products for treating disorders of the eye, announced that “it has received select topline data, specifically the primary endpoint, demonstrating superiority over standard-of-care in its corneal wound repair pivotal study using the Ocular Bandage Gel (OBG) eye drop.”
The company reported that “the results of this critical study demonstrated that EyeGate’s OBG eye drop provided a greater improvement in corneal re-epithelialization than those treated with the standard-of-care, a bandage contact lens.” The firm advised that the study was composed of 234 randomized subjects who received a large 9 mm corneal epithelial wound required for photorefractive keratectomy (PRK) surgery. EyeGate noted that next week it expects to receive additional topline data along with the full data package in mid-December.
Vance Thompson M.D., of Vance Thompson Vision in Sioux Falls, S.D. commented, “The proven effectiveness and well tolerated safety profile of EyeGate’s OBG eye drop is a major step for the corneal wound repair market…I believe that the OBG eye drop will not only benefit patients with large corneal defects, but also patients with moderate to small corneal abrasions and epitheliopathies.”
EyeGate’s CEO Stephen From remarked, “We are thrilled with the results of this pivotal study…This allows us to submit a de novo application for commercialization, which we plan to do in H2/20. OBG, if approved, will be the first product indicated to repair corneal defects, as well as the first prescription Hyaluronic Acid (“HA”) eye drop in the U.S., providing a huge opportunity for EyeGate.”
EyeGate indicated that “its lead product, Ocular Bandage Gel (OBG), is based on a modified form of the natural polymer hyaluronic acid, which is a gel that possesses unique properties providing hydration and healing when applied to the ocular surface…the objective of OBG is to re-epithelialize the cornea, reduce the risk of infection, improve symptoms, and improve ocular surface integrity. Often current treatments fall short as they are ineffective in protecting and enabling corneal re-epithelialization.”
The company stated in the release that “if EyeGate receives FDA approval following successful completion of the PRK pivotal study, it believes OBG will be the only prescription hyaluronic acid eye drop in the U.S. and the only eye drop in the U.S. approved for the healing of corneal epithelial defects.”
EyeGate Pharmaceuticals is headquartered in Waltham, Mass., and is a late-stage clinical specialty pharmaceutical company focused on developing and commercializing therapeutics and drug delivery systems for treating eye disorders. EyeGate’s leading product is Ocular Bandage Gel (OBG). The firm notes that it is currently working on clinical trials for two different patient populations: photorefractive keratectomy (PRK) surgery to demonstrate corneal wound repair; and punctate epitheliopathies (PE), which includes dry eye.
EyeGate is developing its other product EGP-437, which incorporates a topically active corticosteroid dexamethasone phosphate for treatment of various inflammatory conditions of the eye, including uveitis, a debilitating form of intraocular inflammation of the anterior portion of the uvea such as the iris and/or ciliary body, and macular edema, an abnormal thickening of the macula associated with the accumulation of excess fluids in the extracellular space of the neurosensory retina. EGP-437 is delivered into the ocular tissues through the company’s proprietary innovative drug delivery system called the EyeGate II Delivery System, which is designed to deliver optimal quantities of drugs to the anterior or posterior segments of the eye.
EyeGate Pharmaceuticals started off today with a market capitalization of about $17.4 million with approximately 3.636 million shares outstanding. EYEG shares opened 85% higher today at $8.86 (+$4.79, +84.97%) over the prior day’s closing price of $4.79. The stock set a new 52-week high price this morning and has traded today between $6.64 to $9.50 per share on very high relative volume. The shares are currently trading at $6.88 (+$2.09, +43.63%).
Disclosure: 1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. 6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
Year end is drawing closer and investors are thinking about their retirement accounts. Many of them are looking at nice gains in their stock portfolios and wondering if the extraordinary run in equities can continue.
The bull market is getting long in the tooth, but next year is an election year… and that can be good for stocks. But if one of the avowed socialists currently competing in the Democratic primaries should manage to become president, it could be bad news for stocks.
Those who want to diversify and pull some chips off the table should take a look at a self-directed IRA. This type of retirement account allows you to switch some or all of your conventional paper assets for tangible assets such as gold, silver, and real estate.
Precious metals IRAs represent true diversification. Brokers and financial planners often talk about putting together a good mix of investment assets, but they generally recommend a portfolio stuffed with nothing but Wall Street securities.
Conventional advisors focus almost exclusively on stocks, bonds, and mutual funds — the types of investments that could suffer badly during the next financial crisis.
It is easy to transfer funds from a conventional IRA. And precious metals IRAs often cost less than plans being offered by Wall Street banks and brokerages.
Annual maintenance and storage fees for $100,000 in IRA funds invested in physical gold, including the storage at Money Metals Depository, are approximately 35 basis points (.0035) for the first year and 20 basis points (.002) ongoing. The maintenance and management fees built into ETFs and mutual funds can be triple that amount.
There are a number of good IRA companies offering self-directed plans. Picking one is easy.
Start by evaluating the basics. Choose a firm with a reputation for providing great service and competitive fees. You might give extra points for a firm that is well established in the industry. A bit of online research will tell you what you need to know.
We do not recommend using custodians charging more than $150 in annual fees or those charging more than $50 to process a transaction.
There are some very good IRA firms we vetted who charge fees significantly below those levels. Some are listed here.
Firms which have a website where users can enroll, view, and manage transactions online will be a major consideration for investors who prefer the convenience of managing their affairs electronically.
If you prefer to deal in person, inquire by phone. See if it is easy to reach someone live and evaluate whether they seem knowledgeable and service oriented.
Avoid IRA custodians that attempt to steer you into particular products or programs. Some “rare” and “proof” coin dealers have special arrangements with custodians in order to pitch investors on high-premium “rare” coins.
Those over-hyped coins generally do not perform well for anyone but the dealers selling them and should be avoided like the plague. (The Wall Street Journalpublished an extremely damning article about the proof coin market in 2017.)
Likewise, investors should avoid “self-storage” metals IRAs. The cost to set up and administer these plans tends to be very high.
But the real problem is that taking physical possession of metals held inside an IRA involves significant risk. The IRS has indicated it will disqualify these types of plans.
The rules state that IRA assets must be held at arm’s length by a third party. IRS officials are signaling their disapproval of the self-storage IRA scheme. When they disqualify an investor’s IRA, taxes and penalties on the entire IRA balance are imposed.
Moreover, you should choose a reputable depository which offers segregated storage, outside of the COMEX vault system. There is good evidence that the non-segregated metal in COMEX vaults has been rehypothecated, or pledged as a sort of collateral, multiple times.
No investor wants to find out they are basically an unsecured creditor after another party makes claim to the precious metals they thought they owned outright.
That isn’t the only issue with non-segregated storage. We know from experience that investors can be victim to a costly switch. They buy coins or other bullion products which are in good condition but store them within a pooled account. Later, when it is time to sell, the depository staff arbitrarily ships some scratched, dented, or tarnished items from the pool.
Lastly, a good depository takes physical security very seriously.
Money Metals Depository is an excellent choice when it comes to all of the above criteria.
We built a custom, state-of-the-art Class III vault located directly below a County Sheriff’s department. Our facility in Idaho is located far away from the COMEX system, Wall Street bankers, and Washington DC politicians.
Fully segregated storage is the only type we offer. And our IRA storage fees are the lowest in the industry.
If you store your IRA metals with Money Metals Depository, you can take advantage of zero shipping costs and instant delivery from Money Metals Exchange. For best value and service, we suggest New Direction IRA, Advanta IRA, or Mountain West in Idaho.
If you need a specific recommendation based on your circumstances, please give one of our no pressure and non-commissioned Specialists a call at 1-800-800-1865.
To get started now with a precious metals IRA, just click here.
The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.
The financial results are reviewed in a ROTH Capital Partners report.
In a Nov. 6 research note, ROTH Capital Partners analyst Jake Sekelsky reported that Kirkland Lake Gold Inc. (KL:TSX; KL:NYSE) in Q3/19 “beat our estimates on both the top and bottom line, and Macassa and Fosterville continue to drive strong cash flow generation.”
Sekelsky relayed that Kirkland Lake, reported in Q3/19, a “strong quarter,” an adjusted net earnings of $0.84 per share on revenue of $381.4 million, which exceeded ROTH’s projection of $0.74 earnings on revenue of $371.2 million. He added that “while the company beat our earnings estimate, we attribute the majority of this to increased capitalization of exploration expenditures.”
Costs were roughly consistent with estimates at the Fosterville and Macassa mines, Sekelsky pointed out, but higher than expected at the Holt complex. As such, Kirkland Lake is considering longer term options there.
The gold company ended Q3/19 with $615.7 million in cash and no debt. “[We] believe the company’s strong cash balance and currency places Kirkland Lake in a strong position to pursue both organic and inorganic growth opportunities heading into 2020,” commented Sekelsky.
The company increased its quarterly dividend by 50% to $0.06 per share. Test processing in progress at the Union Reefs mill indicates Kirkland Lake is advancing its Northern Territory assets. Further, ROTH expects a positive production decision in 2020.
Kirkland Lake is expected to release exploration results from Fosterville by year-end 2019, Sekelsky noted. ROTH believes the market has already considered they will be favorable and has factored that into the stock price. Therefore, the investment banking firm maintained its Neutral rating and US$50 per share 12-month price target on the gold producer, whose current share price is around $47.62.
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Disclosures from ROTH Capital Partners, Kirkland Lake Gold, Company Note, November 6, 2019
Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
ROTH makes a market in shares of Kirkland Lake and as such, buys and sells from customers on a principal basis.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.
