(Kitco News) - Gold prices aresolidly higher and have hit a nearly three-month high in early U.S. tradingTuesday, boosted by safe-haven demand amid keener geopolitical uncertainty inthe marketplace. December gold futures were last up $17.20 an ounce at $1,241.70.December Comex silver was last up $0.223 at $14.805 an ounce. Buckleyour seat belts today, folks. Global stock markets were mostly lower...Read More
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
Here we go again. After two weeksof consolidation, gold is trying to break out to the upside, $13 higher and sittingat resistance. This action was expected; big breakouts are typical out of thecongestion pattern.The bigger question is where doesgold from here? The key level is now $1,240, as a break above brings $1,275into play. With the global tension and markets selling off, money is lookingfor...Read More
(Kitco News)- Just returned from an investment conference in Bermuda,where the mood among some of the biggest names in the industry was definitelybullish. To be taken in context, most players in the metals space are generallyneutral in a worst-case scenario but almost always bullish albeit sometimeswith the caveat “if you are a long-term investor”. Metals dealers do not makemoney telli...Read More
Under-the-radar moving averages can provide unexpected support on pullbacksThe disappearance of journalist Jamal Khashoggi has cast a distinctly unwelcome spotlight onto the Kingdom of Saudi Arabia, as the international community grapples with the political, economic, and moral implications of Khashoggi's fateful Oct. 2 visit to the Saudi consulate in Istanbul. While the U.S. has yet to respond fo...Read More
Shares in Caterpillar (NYSE: CAT), the world's no.1 heavy machinery maker, fell more than 7% in pre-market trading Tuesday, despite the company beating earnings estimates for the tenth time in a row.The stock lost as much as $9.76 by 8:48 a.m. EST, dropping to $118.95, after closing at $128.71 on Monday, the lowest so far this year. The drop followed the mining and construction equipment manufact...Read More
(Adds shares, details, background)STOCKHOLM, Oct 23 (Reuters) - Sweden's Sandvik said on Tuesday order intake had improved significantly andbroadly with stable activity also seen in an automotive industryhit by recent wobbles as it posted quarterly core earnings justahead of forecast.Worries over slowing global growth has hit the industrialstocks in recent months in the wake of weakening purchasin...Read More
ANKARA, Oct 23 (Reuters) - Turkey's ruling AK Party will notform an alliance with the nationalist party for the 2019 localelections, but cooperation between the two parties willcontinue, President Tayyip Erdogan said on Tuesday, after thenationalists pulled out of the alliance earlier.Erdogan's AK Party and the Nationalist Movement Party (MHP)formed an alliance ahead of June elections, but have si...Read More
* Gold hits highest since July 17 * Palladium hits record high * EU executive rejects Italian 2019 draft budget(Updates throughout, adds quotes, prices, details)By Swati VermaBENGALURU, Oct 23 (Reuters) - Gold jumped 1 percent to amore than three-month peak on Tuesday, with investors spurred onby a slide in global equities and rising political and economicuncertainty, including concerns over Italy...Read More
$200 million revolving line of credit is undrawn at quarter endCompany Website: http://www.hecla-mining.comCOEUR D'ALENE, Idaho -- (Business Wire)Hecla Mining Company (NYSE:HL) today announced certain preliminary results ? for the third quarter of 2018.HIGHLIGHTSSilver production of 2.5 million ounces, and gold production of 72,995 ounces.Silver equivalent production of 10.9 million ounces or gold...Read More
Gold is trapped in a narrow range of $1,220 to $1,230, as the bulls are likely having a breather, having pushed the metal to a 2.5-month high of $1,233 last week. Also, the consolidation is happening in the positive zone above the six-month-long falling trendline. It is worth noting that the trendline hurdle was breached last week. A break above $1,230 (upper edge of the range) would signal a rev...Read More
Canada's IAMGOLD Corp. (TSX IMG), (NYSE: IAG) plans to apply for a mining concession before year-end after releasing a robust feasibility study for its near-2 million ounce Boto gold exploration project in Senegal.President and CEO Steve Letwin said while a final investment decision on the $254-million project was yet to be made, Boto represented a "high-value" one, which would add to the company'...Read More
Christopher Lewis21 hours agoGold markets of course are highly influenced by the US dollar, so keep that in mind before placing any types of trades. At this point, I think that the market probably looks at the $1220 level as massive support. At this point, I believe the Gold markets are a bit extended for the short term, but I would be willing to take a small position at $1220 as it has been somew...Read More
London-listed explorer Greatland Gold (LON:GGP) has detected copper, silver, gold and pathfinder elements at its Scallywag target of the company's Paterson project in Western Australia.The sampling results, said Greatland on Tuesday, reinforce the potential of both precious metals and copper mineralization at the site, located within its Havieron licence.Copper, silver and gold detected in the fi...Read More
London-listed explorer Greatland Gold (LON:GGP) has detected copper, silver, gold and pathfinder elements at its Scallywag target of the company's Paterson project in Western Australia.The sampling results, said Greatland on Tuesday, reinforce the potential of both precious metals and copper mineralization at the site, located within its Havieron licence.Copper, silver and gold detected in the fi...Read More
James Hyerczyk22 hours agoComex GoldGold futures are trading slightly higher early Tuesday after finishing lower on Monday due to a spike to the upside by the U.S. Dollar. Traders have been looking for clues as to the next major move after rallying to a multi-month high over a week ago. However, a mixed trade by U.S. Treasurys and U.S. equity futures has encouraged many gold traders to take a ...Read More
(Adds LNG imports data, background)BEIJING, Oct 23 (Reuters) - China's September diesel andgasoline exports fell sharply from August as robust domesticdemand curbed overseas shipments.Gasoline exports were 730,000 tonnes last month, the lowestsince the same month a year ago when shipments were 568,000tonnes, data from the General Administration of Customs showedon Tuesday.Diesel exports in Septemb...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average traded lower Monday after closing last week with a gain of 0.4%.The S&P 500 also fell into negative territory. The S&P 500 has closed lower in 10 of the past 12 sessions.Hasbro Inc. (HAS) tumbled 3.1% after the toymaker posted third-quarter earnings and revenue that missed expectat...Read More
Bob Moriarty ArchivesOct 23, 2018Investors are funny. You can go to the chat boards and read about Novo Resources that had an incredible run in 2017 and read about how unhappy investors are that the price of shares has gone down. It’s my entire fault or it’s Quinton’s fault or it’s Eric Sprott’s fault. It’s everyone’s fault except the investors who wanted...Read More
Jack ChanPosted Oct 22, 2018GLD – on buy signal.***SLV – on buy signal.***GDX – on buy signal.***XGD.TO – on buy signal.***CEF – on buy signal.***GDXJ – on buy signal.***Speculation remains at multi decade low, but short covering has begun.Speculation remains at multi decade low, but short covering has begun.A tradable bottomis now in place.Need to see a breakou...Read More