(Kitco News)- October’s equity correction, the biggest drop since the 2008financial crisis, wasn’t enough to derail the Federal Reserve’s plan togradually raise interest rates.As expected, the Federal Reserve left interest ratesunchanged following Thursday’s monetary policy meeting; however, manyeconomists noted that the central bank did not mention at all October’s e...Read More
(Kitco News) - Silver is looking to outperform gold for the rest of the year, according to one gold bull, who is seeing strength in the precious metal that has struggled this year.“With gold/silver ratio close to its all-time high, silver is poised to surprise, to the upside, most investors into year-end,” Metal Bulletin precious metals analyst Boris Mikanikrezai wrote in a Seeking Alp...Read More
(Reuters) - High-profile U.S. electoral races in Georgia, Florida and Arizona remained unresolved on Thursday, two days after the vote, with the prospect of legal challenges, recounts and ballot reviews setting the stage for possible weeks of uncertainty.In Georgia, where Republican Brian Kemp declared victory in the governor’s contest on Wednesday on a narrow lead, campaign officials for De...Read More
OTTAWA (Reuters) - Canada is pushing back against U.S. attempts to change the text of their September trade pact and the issue may have to be referred to ministers to settle, a Canadian source with direct knowledge of the matter said on Thursday.“Some of the stuff they (the Americans) have been putting forward is not at all what we agreed to,” said the source, who requested anonymity g...Read More
X-Terra Resources (TSXV: XTT) today announced, in connection with NBGold Inc., the acquisition by way of an option of a 100% ownership interest in 34 mining claims comprising four mining properties in New Brunswick, Canada.The company says is has completed due diligence on the acquisition of the properties and the initial submission has been filed with the Exchange. X-Terra has commissioned the pr...Read More
Fed Chair Jerome Powell will speak on WednesdayFollowing a hectic run of Election Day results and a Fed meeting, the economic calendar next week doesn't take much of a breather. There is plenty on tap to whet investors' appetites, including more remarks from Fed Chair Jerome Powell, additional speeches from Fed presidents, and a full earnings slate. Several notables are poised to step into the ear...Read More
LONDON (Reuters) - Media reports suggesting that Britain could seal a divorce deal with the European Union in the next few days should be taken “with a very large pinch of salt”, a senior UK government source told the Press Association on Thursday.Both sides have indicated that they are nearing a deal in recent days but a government source told Reuters earlier on Thursday that Prime Mi...Read More
The shares of the Amazon rival hit a record high earlierThe U.S. stock market has made a decisive turn lower after the Fed reiterated its plan for gradual rate hikes in today's policy statement, but cautioned over slowing business investment. Among individual names making big moves are online retailer Etsy Inc (NASDAQ:ETSY), gene therapy specialist Voyager Therapeutics Inc (NASDAQ:VYGR), and telec...Read More
Mr. Glen Williams reportsSPROTT INC. DECLARES THIRD QUARTER 2018 DIVIDEND Sprott Inc. has declared an eligible dividend of three cents per common share for the quarter ended Sept. 30, 2018, payable on Dec. 4, 2018, to shareholders of record at the close of business on Nov. 19, 2018. About SprottInc. Sprott is an alternative asset manager and a global leader in precious metal and real asset investm...Read More
Mr. Nav Dhaliwal reportsBONTERRA RESOURCES ANNOUNCES CLOSING OF $21.8 MILLION PRIVATE PLACEMENT Bonterra Resources Inc. has closed its previously announced brokered private placement for gross proceeds of $21,817,100.Sprott Capital Partners acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp., Red Cloud Klondike Strike Inc., Canaccord Genuity Corp. and Haywood...Read More
The SPX just did something we haven't seen in two yearsThe S&P 500 Index (SPX) jumped back above its 200-day moving average on Wednesday, after spending more than two weeks below this closely watched trendline. It marked the index's longest stretch below the moving average since the first quarter of 2016. However, what really piqued our interest was last week's SPX surge while trading beneath the...Read More
Gold prices suffered a fourth loss in five sessions on Thursday, then struggled for direction in electronic trading with the U.S. dollar extending earlier gains as the latest policy update from the Federal Reserve yielded no surprises. The U.S. central bank held interest rates steady, in a 2% to 2.25% range and signaled that it will stay the course and move rates up at a gradual pace in coming mo...Read More
(Reuters) - Saudi Arabia's top government-funded think-tank is studying the possible effects on oil markets of a breakup of OPEC, the Wall Street Journal reported on Thursday, citing people familiar with the matter.The research project doesn't reflect an active debate inside the government over whether to leave the Organization of the Petroleum Exporting Countries in the near term, the Journal rep...Read More
NEW YORK (Reuters) - The U.S. Federal Reserve held interest rates steady on Thursday and said ongoing strong job gains and household spending had kept the economy on track.“The labor market has continued to strengthen and ... economic activity has been rising at a strong rate,” the Fed said in its latest policy statement, leaving intact its plans to continue raising rates gradually.The...Read More
SBLK is oversold amid this recent pullbackAt last check, Star Bulk Carriers Corp. (NASDAQ:SBLK) was up 2.2% to trade at $10.69. The shipping stock had a rough October along with the rest of the broader equities market, but amid SBLK's recent struggles, one analyst suggests the stock could be on sale at current levels. More specifically, Deutsche Bank earlier today reiterated its "buy" rating and...Read More
(Reuters) - The S&P 500 inched lower on Thursday, as disappointing results from a slew of companies, including Qualcomm Inc, countered gains in bank stocks ahead of the Federal Reserve’s interest rate decision.Among the biggest decliners on the benchmark index were Perrigo Co (PRGO.N), Wynn Resorts Ltd (WYNN.O) and D.R. Horton Inc (DHI.N), all falling on disappointing quarterly results.Q...Read More
KROKOS, Greece (Reuters) - Every autumn, Zisis Kyrou is more often found plucking flowers in northern Greece’s purple saffron fields than in his office as a civil engineer.Saffron - the spice so expensive it’s called “red gold” - has brought jobs and money to a region better known for coal mines and unemployment. A year ago, its producers began exporting to the United State...Read More
• A follow-through USD buying/Fed rate hike expectations kept exerting downward pressure. • The prevalent cautious mood underpins safe-haven demand and helped limit deeper losses. • Investors now eye the latest FOMC monetary policy update for a fresh directional impetus. Gold continued with its steady intraday decline and refres...Read More
Kinross Gold (TSE: K) has released its third quarter results, which indicate company achieved solid production and generated a positive cash flow. The company has operations in Nevada, Brazil, Ghana and Russia and they all performed well, said the company.On the production side, the company produced 586,260 gold equivalent oz. in Q3 2018, compared to 653,993 oz. in the same quarter in 2017. The pr...Read More
Mr. Guy Goulet reports CERRO DE PASCO APPOINTS DAVID SHAW, PH.D TO BOARD OF DIRECTORSThe board of directors of Cerro de Pasco Resources Inc. has appointed Dr. David Shaw, PhD, a highly accomplished independent geological consultant, to the company's board of directors.Dr. David Shaw has in excess of three decades of experience in the resource and finance industries with specific emphasis on techni...Read More