Global markets are generally positive going into todays trading session, with the USA futures at this point insignificantly in the red. Brent has dropped under $50 in today's trading. Pundits claim markets will be on hold until Fed Chair Yellen speaks in Jackson Hole, Wyoming, on Friday
Here is the current market situation from CNN Money
European markets are higher today with shares in Germany leading the region. The DAX is up 0.76% while France's CAC 40 is up 0.71% and London's FTSE 100 is up 0.63%.
WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen may struggle later this week to convince financial markets she can steer a divided U.S. central bank to raise interest rates at least once in 2016 after it started the year with four hikes on its radar.
BERLIN (Reuters) - Volkswagen and two of its parts suppliers on Tuesday resolved a contract dispute that had hit output at more than half of the carmaker's German plants and threatened to undermine its recovery from a diesel emissions scandal.
LONDON (Reuters) - Oil fell below $49 a barrel on Tuesday, giving up part of August's strong rally, as signs of rising supply outweighed hopes that producing nations will agree steps to support prices.
HONG KONG (Reuters) - Anbang Insurance Group Co is planning to list its life insurance business in Hong Kong and has invited investment banks to make pitches to win advisory mandates in the coming weeks, people familiar with the matter told Reuters.
(Reuters) - Cobalt International Energy Inc said the proposed $1.75 billion sale of a 40 percent stake in two offshore oil blocks in Angola to the state oil company was terminated as it did not get the necessary approvals from the country's government.
(Reuters) - Pfizer Inc , beating out numerous other bidders, said it agreed to buy U.S. cancer drug company Medivation Inc for $14 billion in cash, adding its blockbuster prostate cancer drug Xtandi to the company's growing oncology roster.
(Reuters) - A U.S. national security panel has cleared ChemChina's $43 billion takeover of Swiss pesticides and seeds group Syngenta , the companies said, boosting chances that the largest foreign acquisition ever by a Chinese company will go through.
The purpose of today's very brief article is just to reassure everyone that this current pullback in gold and silver prices is not anything to worry about, but will just provide another opportunity to buy some of your favorite gold and silver stocks that perhaps you do not yet own.
On 14 July 2016, after we purchased many gold and silver stocks in early June to add to very solid positions in physical PMs we've established since 2007, I sent this bulletin to our Platinum Members: "We may receive some weakness in the share prices of many of the stocks we hold now as they have increased quite strongly in a fairly short period of time, but we will continue to hold them unless stronger evidence arises in the immediate future that the support levels above for gold and silver prices may not hold." Indeed from 15 July to 26 July, many gold and silver stocks pulled back in price to a fair degree.
On 26 July 2016, after the HUI Gold Bugs Index had pulled back by 9.4%, silver had pulled back 8.8%, and gold had pulled back 4.7% in a month's time, there was chatter in the mainstream media, as always, of a much greater possible fall in gold and silver prices. In response, I wrote Part 1 of this article to dispel that notion, in which I stated my belief that the pullback we were experiencing at the time was only a temporary lull in a continuing uptrend in gold and silver prices that started at the end of last year.
While Hillary Clinton continued her press conference radio silence, having avoided media Q&A for over 260 days, last night the Democratic candidate did appear on ACB's Jimmy Kimmel live show where she responded to recent reports that her health is deteriorating, saying she feels like she is in an "alternative universe" and laughed off any questions about her health and stamina, arguing that the current speculation "makes no sense" because she doesn't "go around questioning Donald Trump's health."
"I do feel sometimes like this campaign has entered into an alternative universe," she told Jimmy Kimmel Live. "I have to step into the alternative reality, answer questions about am I alive, how much longer will I be alive." Clinton was for the first time responding to allegations made by Trump and some of his backers that she is suffering health problems that could be problematic in the White House should she win the Nov. 8 election. Both Clinton and Trump have released notes from doctors declaring them physically fit for the presidency.
After Kimmel asked whether there was any truth to the rumors most recently raised by former New York City Mayor Rudy Giuliani, the Democratic nominee for president extended her wrist and told the late night host to take her pulse "to make sure I'm alive." Kimmel obliged, taking Clinton's pulse with his thumb and joking: "Oh my God, there's nothing there!" We assume that was a joke.
Kimmel then asked Clinton to open a jar of pickles as a test of her strength (she did so successfully).
"Back in October, the National Enquirer said I'd be dead in six months. So with every breath I take I feel like it's a new lease on life," she quipped..
After the results of the Brexit referendum, many EU governments and officials went out of their way to emphasize that the vote did not herald the end of the European Union and could even make it stronger. For these officials, presenting the vote as an oddity is essential to preserving the bloc. After all, if the Brexit is not an exception, then it could become an example for other countries to follow. The specter of the British precedent will shape relations between the bloc and the United Kingdom for years to come, throughout the negotiations process and afterward.
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