Featured Video Play Icon

Why This Is Stealing Gold’s Safe haven Thunder

Why This Is Stealing Gold’s Safe haven Thunder

Why This Is Stealing Gold’s Safe haven Thunder

Buz Investors Stealing Gold’s Safe haven Of all the headwinds hurting the gold market right now, it is really this newfound optimism over the global economy that is hurting the metal’s prices most, this according to Societe Generale’s head of metals research Robin Bhar. Speaking with Kitco News, he shared the French bank’s outlook for the yellow metal for 2017,

Other Stories Buz Traders Follow

Stealing Gold’s Safe haven

which expects prices to average around $1,300 an ounce. ‘We’re looking to revise that lower given gold’s very disappointing performance since the U.S. elections but we still retain an overall positive bias, we think gold can find a bottom. ‘Could the U.S. dollar just be stealing gold’s safe-haven thunder? ‘I think that must be the answer,’ he said. February Comex gold futures last traded at $1,158.5, up 0.3% on the day. Meanwhile, the U.S. dollar index last traded at 102.28.

major currencies: (EUR-USD) (USD-JPY) (GBP-USD) (USD-CHF), (USD-CAD), (AUD-USD)

Penny Stock Check Safe Bulkers Inc. (SB)

Penny Stock Check Safe Bulkers Inc. (SB)

Penny Stock Check Safe Bulkers Inc. (SB)

Penny Stock Check Safe Bulkers Inc. <span data-recalc-dims=(SB)" width="300" height="160" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2016/10/ship22.jpg?resize=300%2C160 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2016/10/ship22.jpg?w=685 685w" sizes="(max-width: 300px) 100vw, 300px" />

Safe Bulkers Inc. (SB) bounced to $9.64 after the bear market ended in 2009 and turned lower in a trading range that tested resistance in 2011 and 2014, with aggressive sellers taking control after each breakout attempt. It finally broke multi-year range support at $3.00 in November 2015 and plunged to an all-time low at 30-cents in January 2016.

Price action since that time has carved a two-legged recovery, with a swift advance to $1.53 in April, followed by a shallow rising channel that’s now posted a 10-month high. However, April resistance remains in place, with the broad pattern carving an ascending triangle (blue lines) that should yield a much stronger rally in coming weeks. Look for a final reward target at the unfilled breakaway gap between $3.01 and $2.78 (red circle).

 Other Stories Buz Traders watch

The Company’s subsidiaries provide marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of such services.

As of July 25, 2016, the Company’s operational fleet comprised of 37 drybulk vessels, with an average age of 6.24 years and an aggregate carrying capacity of 3.3 million dwt. The fleet consists of 14 Panamax class vessels, 8 Kamsarmax class vessels, 12 Post-Panamax class vessels and 3 Capesize class vessels, all built from 2003 onwards.

As of July 25, 2016, the Company had contracted to acquire four eco-design newbuild vessels. The newbuild vessels comprising of one Japanese Panamax class vessel, two Japanese Kamsarmax class vessels and one Chinese Kamsarmax class vessel, have been contracted to be delivered at various times through 2018.

The Company’s common stock is listed on the NYSE where it trades under the symbol “SB.” The Company’s preferred stock “Series B” and “Series C” and “Series D” are listed on the NYSE, trading under the symbols “SB.PR.B.” and “SB.PR.C.” and “SB.PR.D.” respectively.