Mandatory News

Friday, June 24, 2016

Gold Price Today Surges to Two-Year High After Brexit Vote

Wyckoff: $1,308 Gold Price Possible Post-FOMC

By Peter Krauth, Resource Specialist, Money Morning June 24, 2016

The gold price today (Friday, June 24) rocketed past the $1,300 mark after the results of the Brexit vote sent global markets into a wild tailspin.

As of 1:35 p.m., gold prices were up 4.6% to $1,321.10. That puts the yellow metal on track for its largest one-day gain since February and its highest close since August 2014.

The results of the UK referendum are now clear Britain has voted to leave the EU. And while the price of gold is benefiting the most from the controversial decision, markets around the world are in turmoil.

European markets all plunged on the news. The UK"s main stock index, the FTSE 100, fell 3.2% on the day, while Germany"s and France"s main indices were down 6.8% and 8%, respectively. Here in the United States, the Dow Jones Industrial Average is down 2.8%.

It"s clear the Brexit will be all everybody talks about in the coming weeks. Today, I"m going to discuss where we can expect gold prices to move in the wake of this massive frenzy.

First, here"s a recap of the gold price"s wild week

Gold Price Today Soars Following Lackluster Week

The price of gold kicked this past week off with a session of volatility. On Monday, June 20, prices fell 0.1% to close at $1,290.

Gold"s headwinds blew even stronger the following day. The metal immediately dropped by nearly $20 to $1,271 when markets opened. Gold prices eventually closed at $1,268 and logged a loss of 1.7%.

Wednesday was more of the same, though less dramatic. Gold traded flat throughout the day and closed just 0.2% lower at $1,266.

For comparison, here"s how the U.S. Dollar Index (DXY) has been trading this week

Notice how both the price of gold and the U.S. dollar declined on Wednesday. Remember, this kind of short-term behavior where both move in tandem is not typical.

This pointed toward an easing of fear regarding the likeliness of the Brexit vote producing a win for the "Leave" side.

Yesterday, the polls opened and British citizens voted on whether or not their country would leave the EU. During the day, gold prices trended lower and closed at $1,263.10 for a 0.2% loss. Again, this movement showed how investors were anticipating the country to remain in the bloc.

Then, the UK shocked the world with a Brexit, sending the gold price today to its highest level since 2014.

With today"s rally, investors want to know if gold prices will maintain these gains in the coming months.

Here"s my specific gold price target following the Brexit results

Despite the Rise in the Gold Price Today, This Is Where It"s Headed

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About the Author

Peter Krauth is the Resource Specialist for Money Map Press and has contributed some of the most popular and highly regarded investing articles on Money Morning. Peter is headquartered in resource-rich Canada, but he travels around the world to dig up the very best profit opportunity, whether it"s in gold, silver, oil, coal, or even potash.

Read full bio

Source: http://moneymorning.com/2016/06/24/gold-price-today-surges-to-two-year-high-after-brexit-vote/

NHL draft blog

Oilers select Puljujarvi 4th overall at NHL Draft

BUFFALO -- The Blues traded goalie Brian Elliott to Calgary in exchange for the Flames second round pick, the 35th overall.

The Blues traded up to get the 26th pick in the draft from the 28th spot and took center Tage Thompson from the University of Connecticut. He"s 6-6, 194 pounds, who scored 14 goals as a freshman. The Blues also gave up a third-round pick along with the 28th pick.

Elliott was the Blues" goalie in the playoffs, but was the No. 2 goalie in the first half of the season when he and Jake Allen were both healthy. Elliott was going to be an unrestricted free agent after the 2016-17 season. Allen is now the clear No. 1 goalie for the Blues.

"I"m ready for it," Allen said Friday night. "I feel like I"ve had two really good years. I felt that this year I was a lot better than I was my first year. I just want to progress again. I"m looking forward to it. If I get the full opportunity, it"s going to be fun. I think that"s when I play my best, when I play all the time, and hopefully that can be the situation. The last three years with Brian I learned a lot. I couldn"t have asked for a better partner."

If Elliott re-signs with Calgary or is traded, the Blues will get a third-round draft pick in 2018 as well.

He had a 2.07 goals-against average and a .930 save percentage in the regular season. He had a 2.44 GAA and a .921 save percentage in the playoffs.

The Blues now need a No. 2 goalie. They can re-sign Anders Nilsson, a restricted free agent, give the job to minor-leaguers Pheonix Copley or Jordan Binnington or acquire another one elsewhere. The move potentially saves the Blues about $1.5 million against the cap, assuming his replacement makes about $1 million.

Elliott is the franchise leader in shutouts with 25, save percentage (.925) and GAA (2.01).

Matthew Tkachuk made St. Louis hockey history on Friday night, being taken by Calgary with the sixth pick, making him the first player from the region to be chosen in the first round of the NHL draft.

Tkachuk was projected to go fourth in most pre-draft projections, but two surprising picks ahead of him left him in position to be taken by Calgary.

"It was awesome, especially with my dad (former Blue Keith Tkachuk) and my mom and brother and sister ... it was so special," Matthew Tkachuk said. "I told my brother to get a picture of it, so hopefully he got that. My mom, she was starting to cry and my dad, he was just saying how proud he was and how much he loved me."

Tkachuk, the former Blue, was asked about his son, Matthew.

"He has some similarities," his father told NBCSN. "One thing he has is a good head on his shoulders. He makes good plays. It"s a proud moment for the whole family right now."

Keith was the 19th pick in the draft, so Matthew gets bragging rights. "He"s got bragging rights, he deserves it," Keith said. "He"s better. He always wanted to come to the rink. He put the work in. It"s paying off right now."

Another St. Louis player, Clayton Keller, was taken with the seventh pick by Arizona, one pick behind Tkachuk.

"I grew up playing on the same line and we had tons of success as younger kids, so it was awesome to see us picked back-to-back," Keller said. "He"s a great friend of mine and I"m just really happy for him. It"s just something that you dream about and work so hard for. It"s awesome to finally get this feeling."

Keller may still go to college at Boston University and delay going to juniors.

The third St. Louis player to get chosen was center Logan Brown, who was taken with the 11th pick by Ottawa, which traded up a spot to get him. Brown"s father, former Blue Jeff Brown, is coaching the junior team in Ottawa.

Then with the No. 15 overall pick, Minnesota selected forward Luke Kunin. At that point, six Americans had been taken, and four were from St. Louis and each had played for the AAA Blues. Kunin said he will play one more year at Wisconsin before starting his professional career.

"It"s a big moment for St. Louis and I hope a few more come," Tkachuk said. "It"s a huge day for St. Louis hockey. I hope they"re watching back home. I know they are."

Added Keller: "It"s unbelievable. I think four of us could be picked in the first round. So it"s awesome to see that."

St. Louis had a fifth player go in the first round when Boston took Trent Frederic with the 29th pick. A record 12 Americans went in the first round, with almost half of them from St. Louis.

With the first pick, Toronto, as expected, took center Auston Matthews, who"s from Arizona but has been playing in Switzerland. He"s the seventh American to go No. 1 in the draft. Last American to go No. 1 was Patrick Kane by Chicago in 2007. The year before that, the Blues took Erik Johnson.

There were two trades. Chicago sent Andrew Shaw to Montreal for two second round picks. Washington sent Lars Eller, once a Blue, to Montreal for two second-round picks, one in 2017 and one in 2018.

With the second pick, Winnipeg took right wing Patrik Laine from Finland. (He"s Finnish, so it"s pronounced Line-Ay, not Lane.) Columbus made a surprising move by taking left wing/center Pierre-Luc Dubois with the third pick. He was expected to go a few spots later. That let right wing Jesse Puljujarvi fall to Edmonton at No. 4, where many people thought Tkachuk might go. Vancouver then took Olli Juolevi, a defenseman with Tkachuk"s London Knights junior team.

Rutherford reported from Buffalo and Timmermann from St. Louis.

Source: http://www.stltoday.com/sports/hockey/professional/nhl-draft-blog/article_b1e0ff1c-e1e0-5804-92f7-2b831f74a3b8.html

Twitter hilariously reacts to ASOS being down

ASOS Haul & Try On | Dollybowbow

Thats right people, ASOS is down and people are absolutely freaking out.

Following the news that Britain have voted to leave the EU and theprice of the British pound has plummeted people suspect that ASOS is down because of this.

Although the popular site has been down since yesterday, people are still speculating that its got something to do with Brexit and they are NOT taking it lightly.

Take a look at some of these (hilarious) tweets:

Comments

comments

Source: http://goss.ie/twitter-reacts-asos/

US futures tumble after UK votes to quit EU; David Cameron plans to resign

Germany"s Brexit Strategy | Squawk Box | CNBC

A bid for "safe-haven" assets early on Friday saw 10-year U.S. Treasury note yields hit a low of 1.406 percent, its lowest since July 26, 2012. The yield recovered to near 1.49 percent as of 6:57 a.m. ET.

The 2-year yield hit a low of 0.499 percent, its lowest level since April 17, 2015.

Spot gold prices rose about 5 percent to near $1,327 an ounce, after earlier hitting its highest in more than 2 years.

Brent and WTI crude futures for August fell about 5 percent, to around $48.28 a barrel and $47.63, respectively.

U.S. stocks closed more than 1 percent higher on Thursday, with the pound near year-to-date highs against the dollar, as expectations rose that the U.K. would vote to remain in the EU.

Source: http://www.cnbc.com/2016/06/24/us-futures-tumble-after-uk-votes-to-quit-eu-uk-pm-says-plans-to-resign.html

Memorial service for Merle Haggard today at Valley Baptist Church

Lake Isabella Fire California Captured Video Many Building Destroyed

BAKERSFIELD, Calif.

He"s the music icon responsible for the Bakersfield Sound and this morning Kern County will have its opportunity to say farewell.

Today"s public memorial service for Merle Haggard will focus on his spirituality throughout his music.

I had the opportunity to sit down with Merle"s oldest sister, Lillian Haggard Rea, yesterday. During our candid conversation, she explained that many attending today"s service might be surprised to learn about her brother"s deep roots in Gospel music responsible for igniting his spirituality.

Faith is not a foreign concept to the Haggard family. Merle Haggard"s oldest sister, Lillian Haggard Rea, explains the families upbringing.

"Church was just part of our lives and it was just part of Merle"s life," said Haggard Rea. Lillian says Merle grew older so did his musical interests spanning into Gospel music.

"In almost every song there is a spiritual element in it," said the 95-year-old Haggard Rea. So interested, in fact, that Merle brought his band on the road for a church tour throughout the U.S. beginning in the south.

"That turned into an album called "The Land of Many Churches" which was one of his earliest gospel music records and one of his most popular," said Haggard Rea.

Lillian still has her brother"s personal bible which traveled alongside with him on the road. Inside the fragile pages is his favorite verse that is still underlined.

"As I sat by him, I was with him when he died, I read to him the 15th Psalm," said Haggard Rea.

When asked what her brother would say to his Maker at the pearly gates, Lillian knew exactly what Merle"s reply would be. "I"m here to occupy my cabin in the hills and I hope it has trees around it, maybe a lake with some fish in it and it wouldn"t be bad to have a guitar handy. He expects to find a cabin in the hills; the hills of Heaven that is," said Haggard Rea.

The public is encouraged and invited to attend the 70-minute memorial service at Valley Baptist on Fruitvale Avenue. Doors open at 9:30 a.m. The service begins at 10:30 a.m.

Source: http://www.kerngoldenempire.com/news/memorial-service-for-merle-haggard-today-at-valley-baptist-church

The top trade targets heading into the 2016 NHL draft

The 2015 NHL Entry Draft Round 1 June 26, 2015 - Full
The St. Louis Blues could move defenseman Kevin Shattenkirk in a trade. USATSI

The biggest NHL trades do not happen before the trade deadline. They happen at the NHL draft when all 30 general managers are in one place, have a chance to deal with one another face to face, and have an incentive -- the draft itself -- to be aggressive when it comes to making moves.

Most of that action will probably take place on the draft floor on Friday night in Buffalo, so let"s take a look at some of the players that could be on the move during the 2016 NHL draft.

The defenseman that should draw the most interest this weekend is St. Louis Blues defenseman Kevin Shattenkirk.

He also might be the most attractive player on the market that actually has a realistic chance of being traded.

His name has been mentioned in trade talks for about a year now, mostly because of his contract situation as he enters the final year of his current deal and the Blues likely not being able to -- or not wanting to -- re-sign him at his market price.

Obviously, there are a lot of teams that can use a 22-minute per night, 45-point, possession driving defenseman and the Blues should be able to cash in if they do move him. The New York Rangers, if they can make the money work, have a desperate need for a player like Shattenkirk, as do the Boston Bruins (they have a desperate need for anybody that can play defense, actually).

If a team like Buffalo is going to go all in on adding a veteran defenseman this offseason they might be better off going for Shattenkirk over a player like Anaheim"s Cam Fowler (more on him in a bit). The contract situation is a little more complicated, but Buffalo has both the salary cap space and the deep pockets to get him signed, and he is simply a better player.

Common sense says the Montreal Canadiens will not trade P.K. Subban because he is one of their best players, one of the best players in the league, and players like him do not typically get traded unless they demand it.

But because he has a no-trade clause that kicks in on July 1 teams have apparently been calling Montreal over the past few days in an effort to see if the Canadiens want to take advantage of that window and the rumor mill started to go crazy over the previous 48 hours so we should probably at least address it.

General manager Marc Bergevin has not come out and said he absolutely will not trade Subban, but the chances of this actually happening seem to be close to zero simply because nobody is going to make an offer that is good enough.

There are maybe five defensemen in the NHL that can play on Subban"s level and you are not getting one of them back in a trade. Any move Montreal makes here is going to be a quantity for quality deal, and that never works out in a team"s favor.

One rumored offer that was floated out there was the Edmonton Oilers" No. 4 overall pick and Leon Draisaitl.

That is not even close to appealing enough for a proven player like P.K. Subban that is in the prime of his career and still has seven years on his contract.

You keep the superstar.

The combination of an expansion draft coming in one year, the fact that Marc-Andre Fleury would have to be protected based on the rules of expansion draft due to his no-trade clause, and Matt Murray"s run to the Stanley Cup this spring all make Fleury a pretty obvious trade candidate this offseason, and especially this weekend.

The problem for the Penguins if they want to go in that direction: There is going to be almost no market for hin because most teams already have a starting goaltender in place, and the one team that is in the market for a starting goalie -- Calgary -- is going to have plenty of options.

Keeping both Murray and Fleury for another season would, from a hockey standpoint, be the best possible outcome for Pittsburgh in the short-term because they will have an opportunity to give both goalies a rest, see who is playing the best down the stretch, and have a safety net in case Murray regresses a bit.

That said, the additional cap space and clearing things up from an expansion standpoint would be beneficial.

Tampa Bay will have same problem that Pittsburgh is going to have if they want to move a goalie: There is almost no market for a starting goaltender at this point other than maybe the Calgary Flames.

Tampa Bay doesn"t have to worry about the expansion draft (Bishop is an unrestricted free agent after this season) but they have an emerging star ready to take over in net in Andrei Vasilevskiy and would probably like to get some sort of a return on Bishop before he leaves for nothing. They could also use the salary cap space ($5.95 million) in the short-term with Steven Stamkos" free agency looming and the fact they have to re-sign restricted free agents Nikita Kucherov, Alex Killorn, Cedric Paquette, and Vladislas Namestnikov this summer.

Those guys -- especially Kucherov and Killorn and Stamkos if they can keep him -- will not be cheap and will quickly eat up their remaining salary cap space.

The Ducks have collected quite a group of young defensemen over the past few years and one of them -- Fowler -- has had his name dropped into the trade rumor mill over the past week. The salary cap itself isn"t a huge issue for the Ducks because they have a lot of their younger players signed to some pretty solid long-term deals, but this is a team that does not generally spend to the cap, while they also have to reach a new deal with perhaps their best young defenseman -- Hampus Lindholm -- this summer in restricted free agency. The Ducks already have two picks in the first round (their own pick at No. 24, and the No. 30 overall pick acquired from Toronto in the Frederik Andersen trade) and they seem to be hoping they can get a third one.

Yeah, he is no longer playing in the NHL but his contract still has value, whether it"s a team that is looking to just simply reach the salary floor without having to waste a roster spot (Arizona?) or a team that will use it as an opportunity to basically "buy" an asset from the Red Wings, this is a trade that could happen. We saw it happen a year ago at the draft when the Philadelphia Flyers moved Chris Pronger"s contract to Arizona, and twice since then with Marc Savard"s contract moving from Boston, to Florida, to New Jersey.

Shortly after Datsyuk announced he is leaving the NHL Red Wings general manager Ken Holland said he was not optimistic about moving Datsyuk"s contract (and the incentive for them is obvious -- they do not want to have $7.5 million in salary cap space going to a player that will no longer play for them) and did not want to give up a significant asset, whether it be a first-round pick or a top-prospect.

Columbus" first-round draft pick

Every year we hear about teams at the top of the draft that want to move back, or teams lower in the draft that want to move higher. When it comes to top-5 or top-10 picks, it almost never happens. The team in the middle of the speculation this year is the Columbus Blue Jackets with the No. 3 overall pick. That seems like a bit of a surprise when the consensus is that there are three players that have separated themselves from the pack in Auston Matthews, Patrik Laine and Jesse Puljujarvi. Blue Jackets general manager Jarmo Kekalainen would seem to be pretty familiar with the latter two given their connections to the Finnish hockey program.

The issue though is they are both wingers and the Blue Jackets seem to have a desire to add a center after trading Ryan Johansen during the season. Moving back a few spots could help them do that while also landing a few extra assets.

Source: http://www.cbssports.com/nhl/news/the-top-trade-targets-heading-into-the-2016-nhl-draft/

Thursday, June 23, 2016

Germany to Brits: "66 World Cup Goal Was Valid If You Stay in EU

EXPLORING GERMANY!

For five decades, Germany and England have been at odds over the crucial goal in the 1966 soccer World Cup final; Germans say it never crossed the goal line, Brits say it did. Bild, Germanys top-selling newspaper, has an offer for Britain as the country votes on its membership in the European Union: Choose to remain, and Germany will accept that the goal was valid.

Dear Brits, if you stay in the EU, well even acknowledge the Wembley goal, Bild wrote on its front page Thursday, in a nod to Sir Geoff Hursts extra-time goal at Londons Wembley stadium that gave England its first--and only--World Cup trophy.

The soccer pledge is one of 11 promises Bild is making to persuade Britain to stay in the EU. The paper says Germans will no longer make fun of Prince Charless ears, theyll provide unlimited bad guys for James Bond movies, and--important for British sun worshipers on holiday in Spain or Greece--will use their beach towels to reserve poolside lounge chairs for Brits.

The pro-remain sentiment of the tongue-in-cheek story fits squarely with the mood in Germany as Britain goes to the polls Thursday. Der Spiegel this month published a special edition adorned with an image of the Union Jack and the plea Bitte geht nicht!, alongside the English translation, Please dont go!

Berliner Zeitungechoed Thelma Houstons 1977 disco hit on its front page Thursday with a photo of a Union Jack balloon and the captionDont leave us this way! Tagesspiegel, a Berlin daily, led with a picture of a kissing couple, their faces painted with the EU and British flags, and the English headline Love or Leave.

Bilds soccer promise comes as the two countries could soon face off again in international competition. Both England and Germany have reached the knockout stage of the European championship in France and assuming both advance, they could meet in the semi-finals. If that match were decided by penalty kicks, England may want to call in another of Bilds promises: We will drop our goalkeeper for the next penalty decision, for more excitement!

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Source: http://www.bloomberg.com/news/articles/2016-06-23/germany-to-brits-66-world-cup-goal-was-valid-if-you-stay-in-eu