(Kitco News) - 2018 Halloween candy prices in the U.S. are expected to rise 0.5% compared to last year, after two past consecutive years of price deflation, according to British data provider IHS Markit. Halloween candy spending is expected to increase 4.2% year-on-year, up from last year's 2.4% growth. Candy spending is projected to total $2.5 billion, translating to around $20 per household in...Read More
Last month in this space, I penned an essay titled "Are Silver and Gold 'at the Flood'"?. A few weeks later, two other essays on another widely-read site discussed this topic from the same perspective and sourcing – a case of "great minds thinking along similar lines"? Please take time to read or review that Money Metals Exchange Post of August 28. I made the case...Read More
BOSTON (Reuters) - TIG Advisors on Wednesday said it has bought a piece of Canadian mortgage investor Romspen Investment Corporation, marking the first time it has taken a stake in another hedge fund.Romspen, a Toronto-based credit manager, invests C$2.5 billion in assets, providing first mortgage bridge lending to commercial real estate projects in North America.“We invested with Romspen be...Read More
NEW YORK (Reuters) - U.S. stocks rebounded for a second day on Wednesday, as investors snapped up beaten-down technology and internet favorites and strong company results lifted spirits after equities had been spooked this month.Shares of Facebook Inc (FB.O) gained 4.6 percent after the social media giant said margins would stop shrinking after 2019 as costs from scandals ease. [nL2N1XA27I]The S&a...Read More
LONDON (Reuters) - Prime Minster Theresa May’s spokesman declined to say whether an EU exit deal was expected by Nov. 21, as indicated in a letter by her Brexit minister Dominic Raab earlier on Wednesday, but said government was working to get a deal as soon as possible.Asked about Raab’s letter, the spokesman said: “I can’t go beyond repeating, as I have done many times, t...Read More
The world's fastest-growing vertically integrated global cannabis company could net investors a huge return in the months to come.The worldwide trend toward marijuana legalization has triggered a wave of growth opportunities for investors around the globe.Beyond the explosive Canadian market - this diversified cannabis operator maintains production, processing, and distribution facilities worldwid...Read More
(Kitco News) - Gold’s tight negative correlation with the U.S. dollar will help prices go higher within the next 12 months, according to Wells Fargo, which forecasts weaker greenback to come.“We see higher gold prices ahead as we expect commodity prices in general to increase and the U.S. dollar to weaken. Our rolling 12-month target price for gold remains $1,250 - $1,350 per ounce,&rd...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
LONDON/NEW YORK (Reuters) - Bitcoin, the world’s first and most famous cryptocurrency, celebrates its tenth birthday on Wednesday.Its emergence has spawned a multitude of other digital currencies, brought blockchain technology to global attention, and vexed regulators worried about its crime misuse and weakness to hacking.The following are some major milestones in bitcoin’s first decad...Read More
LONDON (Reuters) - Bitcoin was heading toward a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year’s bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying.By 1300 GMT, bitcoin BTC=BTSP was trading at $6,263 on the BitStamp exchange, leaving investors who had bought it on Halloween 2017 fa...Read More
The cybersecurity firm posted impressive third-quarter earningsThe shares of FireEye Inc (NASDAQ:FEYE) are up 10.8% to trade at $18.88 -- headed toward their best day since May 2017 -- after the cybersecurity company reported third-quarter adjusted earnings of 6 cents per share on $211.65 million in revenue, more than analysts were expecting. The impressive results came as FireEye shifted to a sub...Read More
ZURICH (Reuters) - Rising global trade tensions could buffet the Swiss franc, Swiss National Bank Chairman Thomas Jordan warned on Wednesday, adding Switzerland would be among the countries hardest hit if full-scale trade war broke out.If higher tariffs made consumers and producers expect steadily rising prices, this could force central banks to tighten monetary policy to head off inflationary ris...Read More
LONDON (Reuters) - A Brexit deal is now firmly in sight and should be finalised by Nov. 21, Brexit Secretary Dominic Raab said in a week-old letter to a lawmaker that was published on Wednesday and briefly sent sterling sharply higher.With just five months until Britain is due to exit the European Union, little is clear: Prime Minister Theresa May has yet to clinch a divorce deal and rebels in her...Read More
WASHINGTON (Reuters) - U.S. national security adviser John Bolton said on Wednesday Washington wants to apply maximum pressure on Iran with sanctions on its crude exports, but does not want to harm countries that are friends and allies that depend on the oil.Bolton also said the Trump administration understands that a number of countries, some close geographically to Iran, and others “may no...Read More
Skeena Resources (TSX.V: SKE)(OTCQX: SKREF) today announced drill results for six holes from the Phase I drilling program at the Eskay Creek Project in British Columbia's Golden Triangle.Drill results returned high grades: up to 10 grams per tonne gold equivalent at 45 metres, and up to 502 grams per tonne silver equivalent at 12 metres. The Phase I drilling program at Eskay Creek continues to...Read More
(Adds economist, Albayrak comments, updates lira)ANKARA, Oct 31 (Reuters) - Turkey’s lira weakened more than two percent against the dollar on Wednesday after the government unexpectedly announced a plan to cut taxes on several sectors, including cars, white goods and furniture, until the end of the year.The tax cuts, announced by Finance Minister Berat Albayrak, came hours after the central...Read More
Vancouver-based explorer Golden Arrow Resources (TSX-V: GRG) has entered into a Definitive Agreement with Mineria Activa SpA to acquire up to 100% of the Indiana gold-copper project in Chile. Indiana is located approximately 35 kms from Golden Arrow's new Atlantida copper-gold project.The advanced-stage gold-copper project features a near surface deposit of high-grade gold and copper vein-hos...Read More
LONDON (Reuters) - OPEC has boosted oil production in October to the highest since 2016, a Reuters survey found, as higher output led by the United Arab Emirates and Libya more than offset a cut in Iranian shipments due to U.S. sanctions.The 15-member Organization of the Petroleum Exporting Countries has pumped 33.31 million barrels per day this month, the survey on Wednesday found, up 390,000 bpd...Read More
RIYADH (Reuters) - A senior Saudi Arabian prince who recently appeared to criticize the king and crown prince has returned to Riyadh, in what some sources close to the royal family say is a sign it wants to form a united front amid its worst political crisis in a generation.Prince Ahmed bin Abdulaziz, a younger brother of King Salman and uncle of Crown Prince Mohammed bin Salman, arrived on Tuesda...Read More
• Improving risk-appetite continue to dent the commodity’s safe-haven demand. • Resurgent USD demand/firming Fed rate hike prospects add to the selling pressure. • Technical selling further contributes towards accelerating the ongoing downfall. Gold kept losing ground through the early North-American session and drop...Read More