TORONTO, Feb 22 (Reuters) - Barrick Gold predicted annual production of more than 4 million ounces of bullion between 2023 and 2027 on Thursday, a long-term view following last week's near-term forecast of lower output and higher costs from the world's biggest producer.The Toronto-based company also said its Chief Operating Officer, Richard Williams, will step down and take on a new role that will...Read More
Mr. Mark Kolebaba reportsADAMERA COMPLETES SECOND DRILL HOLE ON SE-01 TARGET SULFIDE-MAGNETITE ZONE INTERSECTEDAdamera Minerals Corp.'s second drill hole on the SE-01 VTEM target at its Cooke Mountain project in Washington State has intersected a zone of sulphides and magnetite mineralization. The drill core is currently being logged and prepared for assay. Assays are pending for both drill holes...Read More
TOKYO (Reuters) - One of the Federal Reserve's newest policymakers on Thursday added his voice to the majority at the U.S. central bank calling for interest rate hikes amid rising business optimism and faster growth in the world's biggest economy."I anticipate further gradual increases in the policy rate will be appropriate to both sustain a healthy labor market and stabilize inflation around...Read More
Stock futures are slightly higher this morning, but held in check amid concerns over rising interest rates following yesterday'sFed meeting minutes.However, St. Louis Fed President James Bullard this morning warned that "a bunch of rate hikes this year" could slow the economy. Investors will have their ears trained toward additional Fed speakers throughout the day.Continue reading for more on toda...Read More
CAMBRIDGE, Mass. (Reuters) - Billionaire investor Ray Dalio, who founded world's largest hedge fund Bridgewater Associates, thinks there is a relatively high chance the U.S. economy will stumble into a recession before the next presidential election in 2020.Dalio said the U.S. economy is not currently in a bubble. But he reasoned that it might not take long to get there and then to move on to a &q...Read More
MoneyWire's Matt McCall just uncovered a secret stock play that will let traders profit from Bitcoin's dramatic rise for just under $45 a share.With one Bitcoin selling for over $8,500, this is an opportunity that must be jumped on NOW.This pick profits directly from Bitcoin's underlying blockchain technology that's driving the boom in digital currencies.And its stock price is set to rise 1,000%...Read More
Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, is stepping up efforts to hike output of the yellow metal by advancing a number of projects expected to add more than one million ounces a year starting in 2021.The Toronto-based company, which is now only 50,000 ounces - or about 125 gold bars - ahead of rival Newmont Mining (NYSE:NEM) in terms of annual production, said C...Read More
Mr. Robert Carrington reportsNEWRANGE GOLD SAMPLES UP TO 130 GRAMS GOLD, EXTENDS MERRITT ZONE AND BEGINS PHASE III DRILLING AT PAMLICO Newrange Gold Corp.'s systematic program of mapping and sampling at Pamlico has identified another very prospective, high-grade gold drill target referred to as Tom's Hammer where rock chip samples yielded up to 130 grams gold per tonne in mineralized sedimentary r...Read More
Retail stocks dipped with the broader equities market earlier this month, and a lackluster earnings showing from Walmart Inc (NYSE:WMT) earlier this week didn't help matters. However, just like now looks like an opportune time to buy the Walmart dip, the SPDR S&P Retail ETF (XRT) could also rebound soon, if history is any indicator. With a slew of the sector's earnings expected next week, we decid...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold prices remainedon the defensive after a Labor Department report Thursday showing that initial weeklyU.S. jobless claims fell by 7,000 to a seasonally adjusted 222,000 in theweek to Saturday.Consensusexpectations compiled by various news organizations called for initial claimsto be around 230,000. The gover...Read More
* Dollar index touches its highest in more than a week* More dollar weakness seen likely* Focus moves to Fed chief Powell's congressional testimony* Yen rises broadly as stock markets falter* Graphic: World FX rates in 2018 By Jemima KellyLONDON, Feb 22 (Reuters) - The dollar inched up to a 10-day high on Thursday after minutes from the U.S. Federal Reserve's January meeting showed policymakers co...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
(Kitco News) - Gold and silver prices are moderately lower in early U.S. trading Thursday. Bothsafe-haven metals are seeing some selling pressure in a present environment ofnot much risk aversion in the marketplace. The recent rebound in the U.S.dollar index is also a bearish outside market force working against theprecious metals. April Comex gold futures were last down $5.90 an ounce at $1,326.3...Read More
The company listed a netloss of $17.7 million, or 4 cents per share, compared to a loss of $5.3million, or a penny, in the fourth quarter of 2016. The company citedhigher income-tax expenses of $31.3 million, partially offset by improvements in otherareas. Excluding special items, thecompany posted an adjusted net loss of $13.8 million, or 3 cents, comparedto adjusted earnings of $3.3 mi...Read More
Mr. Jeffrey Pontius reportsCORVUS GOLD DRILLS 39.6 METRES OF 2.45 G/T GOLD EXPANDING MOTHER LODE DEPOSIT TO THE WEST, WITH INITIAL 2018 DRILL RESULTSCorvus Gold Inc. has received initial results from the first four holes of its 2018 phase 2 Mother Lode drill program. The results are from three holes evaluating the western extension of the Mother Lode deposit and one hole evaluating the southern ex...Read More
LONDON, Feb 22 (Reuters) - The euro reversed a brief spike on Thursday and was flat on the day after minutes from a European Central Bank meeting last month showed policymakers felt it was too early to change their communication stance to signal a policy shift.The single currency was flat on the day after briefly rising 0.2 percent to the day's highs at $1.23085. Discussion over tweaking the bank'...Read More
Newmont Mining Corp.'s NEM, -1.39% shares dropped 1.5% premarket Thursday even after the company topped expectations with its fourth-quarter earnings. Here's what you need to know: EARNINGS: The gold producer reported a net loss of $534 million, or 99 cents a share. Excluding the impact of the new tax law and one-time items, the company earned 40 cents a share. Analysts polled by Thomson Reuters h...Read More
Buoyed by booming commodity prices and lower costs, Anglo American PLC doubled its net profit in 2017, slashed debt and said it would pay its highest dividend in a decade. Anglo American's results mark a decisive turnaround from two years ago, when the British mining giant, hammered by plunging commodities and hamstrung by a debt load of nearly $13 billion, began a dramatic corporate downsizing. N...Read More
Gold Short Term Elliott Wave view suggests that the yellow metal is still correcting cycle from 12.13.2017 low ($1236.30) as a double three Elliott Wave structure. Down from 1.25.2018 high ($1366.06), the decline is unfolding as a double three where Minor wave W ended at $1306.96 and Minor wave X bounce ended at $1361.81. Minor wave Y is in progress and the subdivision is also unfolding...Read More
About 50,000 ounces - or about 125 gold bars - is all that stood in the way of Newmont Mining Corp. claiming the title of world's biggest bullion producer.The Greenwood Village, Colorado-based miner said Thursday its 2017 gold production was 5.27 million ounces, ending the year in a near dead-heat with industry leader Barrick Gold Corp., which produced 5.32 million ounces.However, Newmont reitera...Read More