(Kitco News) - Gold prices are modestly lower in early U.S. trading Wednesday, on a normalcorrective pullback from recent solid gains that saw prices hit a 10-week highearlier this week. Bulls still have the near-term technical advantage. December gold futures were last down $2.30 an ounce at $1,228.70. December Comex silver was last down $0.016 at $14.685 an ounce. TheU.S. economic highlight at m...Read More
Mr. Jeffrey Pontius reportsCORVUS GOLD EXPANDS GOLD MINERALIZATION TO THE NORTHWEST AT THE MOTHER LODE PROJECT, NEVADACorvus Gold Inc. has received further positive results from the phase 3 resource expansion drilling program at the Mother Lode project, Nevada.Results include a stepout hole to the northwest of the currently defined deposit along the Western Feeder zone (ML18-083, 65.5 metres at 1....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
Both gold and silver stalled onTuesday. Was it because the equities rallied big or was it because they wereboth at resistance? From a technical perspective, they were both at resistance.It's that simple.The metals have had a nice runfrom the recent lows and it should be no surprise that a slight pause or someselling pressure would come in at these resistance levels. All markets do thesame thing on...Read More
* U.S. Fed minutes in focus * European shares hit by weakness in auto sector * Nervous investors using dips to cover short postions-analyst(Recasts, updates prices and quotes)By Sumita LayekBENGALURU, Oct 17 (Reuters) - Gold rose on Wednesday as arally in global equities ran out of steam, denting the appeal ofriskier assets, while bullion investors used recent price dipsto cover short positions.Sp...Read More
(Updates with closing prices)By Peter HobsonLONDON, Oct 17 (Reuters) - Copper prices held steady onWednesday as better than forecast Chinese lending datasignalling solid economic growth in the world's biggest metalsconsumer was offset by signs that a supply squeeze in China wasreceding.Aluminium meanwhile fell after a second day of large inflowsof metal into London Metal Exchange warehouses."...Read More
MOSCOW, Oct 17 (Reuters) - The Russian rouble eased onWednesday as strong U.S. industrial production data boosted theU.S. dollar and investors' confidence in dollar assets.At 0743 GMT, the rouble was 0.2 percent weaker against thedollar at 65.45 and had lost 0.06 percent totrade at 75.66 versus the euro.As data showed that U.S. industrial production increased fora fourth straight month in Septembe...Read More
JOHANNESBURG, Oct 17 (Reuters) - South Africa's randweakened in early trade on Wednesday as the dollar strengthenedagainst most major peers, with the market awaiting domesticretail sales figures and minutes from the U.S. Federal Reserve'slatest policy meeting. * At 0614 GMT, the rand traded at 14.2150 perdollar,0.32 percent weaker than its New York close on Tuesday. * "Current levels are like...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose sharply on Tuesday after slipping in four out of the past five sessions.Goldman Sachs Group Inc.'s (GS) third-quarter earnings of $6.28 a share handily beat analysts' estimates. Walmart Inc. (WMT) , the world's largest retailer, lowered earnings guidance for 2019 following its&n...Read More
The Tuesday Market Minute Global stocks edge cautiously higher, but Saudi tensions, weak China data keep a lid on gains as U.S. earnings season kicks into high gearSecretary Pompeo arrives in Riyadh to meet with King Salman amid reports that Saudi Arabia may admit some responsibility for the disappearance of prominent journalist Jamal KhashoggiChina stocks fall into bear market territory ahead o...Read More
* Asia stocks register modest gains * Spot gold may fall into $1,208-$1,217/oz range -technicals (Updates prices, adds quotes)By Vijaykumar VedalaBENGALURU, Oct 16 (Reuters) - Gold prices held steady onTuesday near last session's 2-1/2-month high as risk-averseinvestors sought refuge in the metal amid rising politicaltensions and economic uncertainty.Spot gold was little changed at $1,226.71 an ou...Read More
Bob Moriarty ArchivesOct 17, 2018Amazing Energy (AMAZ-OTCQX) holds rights to over 70,000 acres in the Permian Basin. Recently theyreleased results from drilling and completion of their #30 well. The market yawned at the results going from $.225 to a blistering $.2384, almost up 6% in ten days. Volume in the shares requires a reservation two weeks in advance in order to buy or sell a $1000 position...Read More
CloseGain/LossGold $1223.80-$1.10Silver$14.63-$0.03XAU69.86-0.35%HUI155.23-0.06%GDM554.76-0.52%JSE Gold1190.39-23.73USD95.58+0.52Euro115.05-0.76Yen89.35-0.03Oil$69.75-$2.1710-Year3.191%+0.034T-Bond137.90625-0.59375Dow25706.68-0.36%Nasdaq7642.70-0.04%S&P2809.21-0.03% The Metals: Gold dipped $4.20 to $1220.70 in Asia before it climbed up to $1229.50 by late morning in New Y...Read More
By Ira EpsteinGold gives ground to Fed Minutes.https://www.iraepstein.com/ Read More
The Bank for International Settlements has just published its September statement of account, giving summary information on its use of gold swaps and other gold-related derivatives in that month: https://www.bis.org/banking/balsheet/statofacc180930.pdf The information provided in BIS monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps...Read More
By Frank HolmesYou've likely seen the reports: A whopping 44 percent of Americans wouldn't be able to afford a $400 emergency expense without borrowing it or selling something. That's according to the Federal Reserve's findings in 2017. And earlier this year, financial services firm Bankrate reported that only 39 percent of Americans would be able to pay off an unexpected expense of $1,000 from...Read More
I chimed in on the capriciousness of copper in the late spring (Mercenary Musing, May 28, 2018). Since then, copper prices hit a 3.5 year high at $3.29/lb in early June but then lagged over the summer months. Weakness continues unabated with Friday's close at $2.86 equating to a 13% loss from its ephemeral high in June: The downtick has occurred despite strong fundamentals: ?...Read More
By Stefan GleasonIs the Trump agenda in peril? It's a question investors should consider ahead of the mid-term elections.Up to now, the Trump economic agenda has certainly been great for Wall Street and much of the broader economy. The Dow Jones Industrials continues to defy all naysayers - notching yet another new record high in the first week of October before correcting.Meanwhile, the latest...Read More
Ah, Saudi Arabia, land of heat and contradictions. One day they're jailing women's rights activists for wanting to drive, the next day they're dismembering still-living Washington Post journalists. And yet they can count the world's capitalist democracies as friends, because today's dysfunctional economic/geopolitical system depends on both Saudi oil and Saudi willingness to help keep their (app...Read More