Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
SHANGHAI (Reuters) - Chinese President Xi Jinping promised on Monday to lower tariffs, broaden market access and import more from overseas at the start of a trade expo designed to demonstrate goodwill amid mounting frictions with the United States and others.The Nov. 5-10 China International Import Expo, or CIIE, brings thousands of foreign companies together with Chinese buyers in a bid to demons...Read More
CoT large speculators are in a rare net long position on VIX futures, which means volatility could decline"'At some point, maybe now, this 200-day breach will signal bearish activity to come. But there have been many 'false negatives' along the way too in which the break of this trendline occurred around major lows.'"...That said, there is often a volatile, choppy phase that equity markets endure...Read More
Lara Exploration (TSXV: LRA) and Capstone Mining Corp (TSE: CS) signed a Letter of Intent granting the latter an exclusive option to earn up to a 70% interest in the Lara's Planalto Copper Project.Planalto is a 4,726-hectare property located in the Caraj??s Province of northern Brazi, near Vale's Sossego copper mine and Oz Minerals Antas copper mine. The exploration licenses cover meta-volcano-sed...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), which last month announced it was buying Randgold Resources (LON:RRS) in a $6.1-billion deal, is said to have resumed talks with rival Newmont Mining (NYSE:NEM) aimed at merging their gold operations in Nevada, US."They have been trying to negotiate for years but Newmont couldn't agree with Barrick, now that you have a new management team, it's certain they...Read More
* Specs increase net short positions in gold to highest in 3weeks * Platinum scales more than 4-month peak * GRAPHIC-2018 asset returns: (Recasts, updates prices, adds quotes)By Sumita LayekBENGALURU, Nov 5 (Reuters) - Gold fell on Monday asinvestors took some profits following a rally over the pastweek, but the market is cautious ahead of the U.S. midtermelections this week.Spot gold was down 0.3...Read More
ANKARA, Nov 5 (Reuters) - Turkey has no worries aboutreaching its year-end budget deficit target of 1.9 percent ofgross domestic product, Finance Minister Berat Albayrak said onMonday. Speaking in a broadcast interview on A Haber, Albayrak saidborrowing costs, which at one point hit around 40 percent forcommercial and consumer loans, will fall further with thenormalisation of the economy. (Reporti...Read More
* World stocks fall after four-day rally * Italy leads Europe down as banks slide * Crude slides as waivers dilute Iran sanctions * Investors cautious before U.S. midterms * Sterling jumps on Brexit deal hopes By Helen Reid LONDON, Nov 5 (Reuters) - World stocks slipped on Monday,halting a four-day recovery rally as anxiety surrounding globaltrade conditions and rising U.S. interest rates dampene...Read More
Published 21 Hours AgoUpdated5 Hours AgoReuters Edgar Su | ReutersGold inched lower within a narrow range on Monday ahead of the U.S. congressional elections, which may fuel interest in bullion as a hedge against risk if the result sparks volatility in financial markets.Spot gold was down 0.18 percent at $1,230.21 per ounce, trading in an $8 range. U.S. gold futures settled at $1,232.30 per ounce...Read More
ANKARA, Nov 5 (Reuters) - Turkish authorities have orderedthe arrest of gold trader Reza Zarrab, a prosecution witness inthe New York trial of a Turkish banker, over unlawful buildingwork, Anadolu news agency said on Monday. Zarrab, 34, a dual national of Iran and Turkey, was agovernment witness in the trial of Mehmet Hakan Atilla, a formerdeputy general manager at Turkey's state-owned Halkbank wh...Read More
The Gold Shares ETF is stabilizing above monthly and quarterly value levels of $111.60 and $110.26, respectively.The commodities ETF has a negative weekly chart but is above its "reversion to the mean" and my annual value level.The long dollar ETF has been rising around its "reversion to the mean" since the week of July 30, 2017. Here are the weekly charts for the gold, commodities and dollar exch...Read More
* AngloGold and partner look at selling Sadiola mine in Mali * Sees FY production towards top end of guidance * Shares jump as costs and debt also fall(Recasts with plan to sell Sadiola, adds shares) By Tanisha Heiberg JOHANNESBURG, Nov 5 (Reuters) - AngloGold Ashanti Ltd and its joint venture partner are looking at selling amine in Mali after failing to reach an agreement with the westAfrican cou...Read More
CloseGain/LossGold $1230.50-$2.60Silver$14.64-$0.11XAU67.14-0.07%HUI149.83+0.26%GDM544.17-0.37%JSE Gold1162.02+28.85USD96.34-0.11Euro114.11+0.16Yen88.41UNCHOil$63.10-$0.0410-Year3.201%-0.014T-Bond137.50+0.34375Dow25461.70+0.76%Nasdaq7328.85-0.38%S&P2738.31+0.56% The Metals: Gold gained $1.30 to $1234.40 in Asia before it dropped back to $1227.00 in London and bounced back...Read More
By Ira EpsteinGold drifts in front of tomorrow's mid-term election results.https://www.iraepstein.com/ Read More
By Clint SiegnerAmericans will be headed to the polls to cast ballots in the midterm elections. Polling suggests that Democrats will return to power in the House of Representatives. Republicans are favored to hold on to the Senate.However, political polls have proven less than reliable. There are plenty of people expecting a surprise once the votes are counted.But there are many policies that wo...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12November 5, 2018''Stocks are super-attractive when the Fed is loosening and interest rates are falling. In sum: Don`t fight the Fed!'' Martin Zweig, fund manager, Winning on Wall Street ''You know a country is falling apart when even the governmen...Read More
By Frank Holmes StrengthsThe best performing metal this week was platinum, up 4.29 percent as hedge funds cut their bearish platinum view to the lowest in seven months. Gold ended October with a gain for the first month in seven. The Bloomberg Intelligence (BI) Global Senior Gold Valuation Peer Group Index is headed for its biggest monthly increase since August 2017, reports Bl...Read More
By Ronan Manlyhttps://www.bullionstar.com/There has been a lot of media coverage recently about the re-emergence of central bank gold buying and the overall larger quantity of gold than central banks as a group have been buying recently compared to previous years. For example, according to the World Gold Council's Gold Demand Trends for Q3 2018, net purchases of gold by central banks in the thir...Read More
The Precious Metals sector continues to be viewed with disdain and skepticism by the vast majority of investors, which is exactly what you want and expect to see at the earliest stages of a major bullmarket. However, the charts continue to shape up well, as we will now see. Starting with the long-term 10-year chart for gold, we see that it is approaching completion of a more or less symmetrical...Read More
By Keith WeinerTerry Goodkind wrote an epic fantasy series. The first book in the series is entitled Wizard's First Rule. We recommend the book highly, if you're into that sort of thing. However, for purposes of this essay, the important part is the rule itself:"Wizard's First Rule: people are stupid.""People are stupid; given proper motivation, almost anyone will believe almost anything. Becaus...Read More